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Chapter 1

Chapter 1: IT for Business and Business Professionals

3 Pages
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Department
Information Technology Management
Course Code
ITM 102
Professor
David Atkinson

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CHAPTER 1 IT FOR BUSINESS AND BUSINESS
PROFESSIONALS
Moores Law: computing power (as measured by the maximum number of transistors
in an integrated circuit) roughly doubles every 18 months
The underlying changes in the pace of technology with consumer access to
lower cost and higher performance computing over time
Information technology (IT): is a part of any information system, is a key enabler
to all organizations (large and small, private or public sector) and impacts all
business disciplines (accounting, marketing, etc)
Knowledge work: involves the discovery, analysis, transformation, synthesis, and
communication of data, information, and knowledge
WHAT IS AN INFORMATION SYSTEM?
Information system (IS): is an organization collection of people, information,
business processes, and information technology (IT), designed to transform inputs
into outputs, in order to achieve a goal
IT is simply a collection of tools hardware, software, and connectivity that enable
individuals or businesses to achieve a goal
IT is irrelevant without the context of a clear goal, processes, and people
Productivity zone occurs that the intersection of people, processes, and
technology; a successful IS system integrates all three of these components to create
business value
Internet: become a integral part of personal and business lives for:
communication, information, and commerce
COMMUNICATION generates business value by making it possible for
professionals to share information both between themselves and with
business partners
Internet allows communication through newsgroups, chat rooms,
bulletin boards, text messaging using mobile phones, email and
instant messaging
INFORMATION internet (world wide web) dramatically reduced the effort
required to make information available and to find information in a timely
manner
COMMERCE the buying and selling of goods
E-commerce: the use of information systems, technology, and computer
networks by individuals and organizations to create business value
Information overload: caused by the ease of creating and distributing information
and an absence of quality control means not all web sources are created equal
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Description
CHAPTER 1 IT FOR BUSINESS AND BUSINESS PROFESSIONALS • Moore’s Law: computing power (as measured by the maximum number of transistors in an integrated circuit) roughly doubles every 18 months • The underlying changes in the pace of technology with consumer access to lower cost and higher performance computing over time • Information technology (IT): is a part of any information system, is a key enabler to all organizations (large and small, private or public sector) and impacts all business disciplines (accounting, marketing, etc) • Knowledge work: involves the discovery, analysis, transformation, synthesis, and communication of data, information, and knowledge WHAT IS AN INFORMATION SYSTEM? • Information system (IS): is an organization collection of people, information, business processes, and information technology (IT), designed to transform inputs into outputs, in order to achieve a goal • IT is simply a collection of tools – hardware, software, and connectivity that enable individuals or businesses to achieve a goal • IT is irrelevant without the context of a clear goal, processes, and people • Productivity zone occurs that the intersection of people, processes, and technology; a successful IS system integrates all three of these components to create business value • Internet: become a integral part of personal and business lives for: communication, information, and commerce • COMMUNICATION generates business value by making it possible for professionals to share information both between themselves and with business partners • Internet allows communication through newsgroups, chat rooms, bulletin boards, text messaging using mobile phones, email and instant messaging • INFORMATION internet (world wide web) dramatically reduced the effort required to make information available and to find information in a timely manner • COMMERCE the buying and selling of goods • E-commerce: the use of information systems, technology, and computer networks by individuals and organizations to create business value • Information overload: caused by the ease of creating and distributing information and an absence of quality control means not all web sources are created equal www.notesolution.com WHAT’S IN IT FOR AN ORGANIZATION? • Organizations use IT to increase sales by calculating and compiling data to understand customer behaviour • Use IT to increase revenue per customer or gain new customers, increase efficiency and reduce cost. • Helps lower input costs, which can either be taken back in form of higher margins on products and services sold, or by enabling them to reduce selling price to preserve competitive advantage and retain market share or open new markets • Business, any organization with one or more people who: 1. Decide on common goals to pursue 2. Work together to locate and organize resources 3. Create processes to achieve the desired goals • Business environment: a complex collection of political, economic, social, and technological factors that organizational leaders must consider when making decisions regarding goals, organizational forms, and the creation of business value • Rely on digital information to gain competitive advantage and to respond quickly to opportunities TYPES OF INFORMATION SYSTEMS FOUND IN BUSINESS IS TYPE WHAT DOES IT DO? HOW DOES IT HELP TO CREATE BUSNESS VALUE? TPS (
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