ITM 102 Chapter Notes - Chapter 2: Accounts Payable, Social Business, Chief Information Officer

• School: Ryerson University
• Department: Information Technology Management
• Course: ITM 102
• Professor: Franklyn Prescod

Document Summary

Major business functions: manufacturing & production, sales and marketing, finance and accounting, human resources. Refer to the manner in which work is organized, coordinated, and focused to produce a valuable product/service: these activities are supported by flows of material, information, and knowledge. Refer to the unique ways which organizations coordinate work, information, and knowledge and the ways in which management chooses to coordinate work. Business performance -> depends on how well its business processes are designed and coordinated. Can be a source of competitive strength if they enable the company to innovate or to execute better than its rivals. Can be a liability if they are outdated and serve as an obstacle to organization responsiveness and efficiency. Can change the flow of information -> allow many people to access and share information, replacing sequential steps with tasks that can be performed simultaneously, and eliminate delays in decision making.