Chapter 3

3 Pages
Unlock Document

Ryerson University
Information Technology Management
ITM 102
Muhammad Shahbaz

thThursday July 7 2011 Chapter 3 Creating Business Value Business Organizations and Business Processes A number of different tasks need to be coordinated to deliver a product or service therefore a company needs a business strategy A strategy is a broadbased formula for how a business is going to compete what its goals should be and what plans and policies will be needed to carry out those goals strategy becomes a road map for what needs to be done in order to create business values and competitive advantageBusinesses as Open Systems Organizations use various resources processes and structure to create business organizations use various resources processes and structures to create business value input process output model is used to define IS now we expand the model into a general mode of an organization known as open systems model open systems model indicates that business operates by transforming inputs into outputs and formatting inputs into outputs and by interacting with its environments2 significant components of business environmentsStakeholdersBoundariesStakeholders and Boundaries in the Business Environment A stakeholder is a person or entity that has an interest and an influence on how a business will function A stakeholder can be external or internal relative to the business All open systems have an organizati
More Less

Related notes for ITM 102

Log In


Don't have an account?

Join OneClass

Access over 10 million pages of study
documents for 1.3 million courses.

Sign up

Join to view


By registering, I agree to the Terms and Privacy Policies
Already have an account?
Just a few more details

So we can recommend you notes for your school.

Reset Password

Please enter below the email address you registered with and we will send you a link to reset your password.

Add your courses

Get notes from the top students in your class.