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Chapter 1

MGAC70H3 Chapter Notes - Chapter 1: Barcode Reader, Flash Memory

Financial Accounting
Course Code
Tim Richardson

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Chapter 1 Notes
Management Information Systems
management information systems (MIS) deals with the planning for, and development, management, and use of information
technology tools to help people perform all tasks related to information processing and management
people use information technology to work with information
Information as a Key Resource
data are raw facts that describe a particular phenomenon
information is data that have a particular meaning within a specific context
business intelligence (BI) is collective information—about customers, competitors, business partners, competitive environment,
and own internal operation—that gives you the ability to make effective, important, and often strategic business decisions
knowledge is broad term that can describe many things; (1) it can provide contextual explanation for business intelligence; (2) it
can point toward actions to take to affect business intelligence; (3) it can include intellectual assets such as patents and
trademarks; and (4) it includes organizational know-how for things such as best practices
some information attributes that help define its quality are timeliness, location, form, and validity
garbage-in garbage-out (GIG) if the information coming into the decision-making process is in bad form (i.e., garbage-in),
then the decision maker will more than likely make a poor decision (i.e., garbage-out)
information must be organized, managed, and disseminated effectively for the information to exhibit quality
within an organization, information flows in four basic directions—upward, downward, horizontal, and outward/inward
1) Upward. Upward information flows describe the current state of the organization based on its daily transactions. Along the
way, the information takes on a finer level of granularity. At lower organization levels, information exhibits fine granularity
because people need to work with information in greater detail. At the upper organizational levels, information becomes
coarser because it is summarized or aggregated in some way.
2) Downward. Strategies, goals, and directives that originate at a higher level are passed to lower levels in downward
information flows. The upper level of an organization develops strategies; the middle levels of an organization convert them
into tactics; and the lower levels of an organization deal with the operational details.
3) Horizontal. Information flows horizontally between functional business units and work teams. The goal here is to eliminate
the old dilemma of “the right hand not knowing what the left hand is doing”. In general, everyone in a company needs to
know everything relevant in a business sense (personal and sensitive data not included).
4) Outward/inward. Information is communicated from and to customers, suppliers, distributors, and other partners for the
purpose of doing business. These flows of information are really what electronic commerce is all about.
information granularity the extent of detail within the information
another organizational perspective on information concerns what information describes—internal or external, objective or
subjective, and various combinations of these options
ointernal information describes specific operational aspects of an organization
oexternal information describes the environment surrounding the organization
oobjective information quantifiably describes something that is known
osubjective information attempts to describe something that is unknown
People as a Key Resource in MIS
the single most information resource in any organization is its people
a technology-literate knowledge worker knows how and when to apply technology
the “how” aspect includes knowing which technology to purchase, how to exploit the many benefits of application software, and
what technology infrastructure is required to get businesses connected to each other, just to name a few
a technology-literate knowledge worker also knows “when” to apply to technology
an information-literate worker can define what information is needed; knows how and where to obtain information; understands
the information once it is received (i.e., can transform the information into business intelligence); and can act appropriately based
on the information to help the organization achieve the greatest advantage
ethics are the principles and standards that guide our behaviour toward other people
being ethically and socially responsible in the information age involves not only the actions you initiate yourself but also what
you do to protect yourself and your organization against cyber crimes
Information Technology as a Key Resource in MIS
the third key resource for management information systems (MIS) is information technology (IT), any computer-based tool that
people use to work with information and support the information and information-processing needs of an organization
one simple—yet effective—way to categorize technology is as either hardware or software
hardware is the physical devices that make up a computer
software is the set of instructions that your hardware executes to carry out a specific task for you
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