1 Chapter 1
system
a collection of parts that link to achieve a common purpose
Porter's Five Forces
a model for analyzing the competitive forces within the environment in which a company operates, to assess the potential for profitability in an industry
systems thinking
a way of monitoring the entire system by viewing multiple inputs being processed or transformed to produce outputs while continuously gathering feedback on each part
Internet of Things
a world where interconnected, Internet-enabled devices or "things" can collect and share data without human intervention
information
data converted into a meaningful and useful context
SWOT Analysis
evaluates an organization's strengths, weaknesses, opportunities, and threats to identify significant influences that work for or against business strategies
support value chain activities
found along the top of the value chain and includes business processes, such as firm infrastructure, human resource management, technology development, and procurement, that support the primary value activities
primary value chain activities
found at the bottom of the value chain, these include business processes that acquire raw materials and manufacture, deliver, market, sell, and provide after sales services
business intelligence
information collected from multiple sources such as suppliers, customers, competitors, partners, and industries that analyze patterns, trends, and relationships for strategic decision making
data
raw facts that describe the characteristics of an event or object
Chief Information Officer
responsible for (1) overseeing all uses of MIS and (2) ensuring that MIS strategically aligns with business goals and objectives
knowledge
skills, experience, and expertise coupled with information and intelligence that creates a person's intellectual resources
analytics
the science of fact-based decision making