MIS 180 Chapter 1 SDSU
Core Drivers of the Information Age
-Data -Information -Business Intelligence -Knowledge
Chief Information Officer (CIO)
-Oversees all uses of IT -ensures the strategic alignment of IT with business goals and objectives.
Management Information Systems
A business function, like accounting and human resources, which moves information about people, products, and processes across the company to facilitate decision-making and problem-solving.
Business Strategy
A leadership plan that achieves a specific set of goals or objectives such as: -Developing new products -Entering new markets -Increasing customer loyalty -Attracting new customers - Increasing sales
Business Process
A standardized set of activities that accomplish a specific task, such as a specific process.
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.
Inbound logistics
Acquires raw materials and resources and distributes
Technology Development
Applies MIS to processes to add value
Information
Data converted into a meaningful and useful context.
Outbound logistics
Distributes goods and services to customers.
Threat of Substitute products or services
High- MANY alternatives to a product or service low- FEW alternatives.
Rivalry among existing competitors
High- competition is fierce in a market low- competitors are more complacent
Threat of new entrants
High- when its EASY for new competitors to enter a market Low- when there are SIGNIFICANT entry barriers.
Knowledge Worker
Individual valued for their ability to interpret and analyze information.
Business Intelligence
Information that analyzes patterns, trends, and relationships for strategic decision making.
Product Differentiation
Occurs when a company develops unique differences in its products or services with the intent to influence demand.
First-Mover Advantage
Occurs when an organization can significantly impact its market share by being first to market with a competitive advantage. -Competitive intelligence tools: -Porter's 5 Forces Model -Porter's Three Generic Strategies -Porter's Value Chain Analysis
Marketing and Sales
Promotes, prices, and sells products to customers. (transactional data)
Service
Provide customer support after the sale of goods and services.
Human Resource Management
Provides employees training, hiring, and compensation
Procurement
Purchases inputs such as raw materials, resources, equipment, and supplies.
Data
Raw facts that describe the characteristics of an event or object.
Chief Knowledge Officer (CKO)
Responsible for collecting, maintaining, and distributing the organization's knowledge.
Chief Privacy Officer (CPO)
Responsible for ensuring the ethical and legal use of information.
Chief Security Officer (CSO)
Responsible for ensuring the security of IT systems.
Chief Technology Officer (CTO)
Responsible for ensuring the speed& accuracy of MIS
Loyalty Program
Rewards customers based on the amount of business they do w/ a particular organization. -keeps people from switching to other business
Knowledge
Skills, experience, and expertise coupled with information and intelligence that creates a persons's intellectual resources.
Buyer Power
The ability of buyers to affect the price of an item.
Fact
The confirmation or validation of an event or object. ex- Water is boiling at 100 degrees celcius
Supplier Power
The supplier's ability to influence the prices they change for supplies.
Operations
Transforms raw materials or inputs into goods and services.
Supply Chain
all parties involved in the making of a product/ raw material.
Switching Cost
costs that make customers reluctant to switch to another product.
Firm Infrastructure
includes -company format/ departmental structures -environment -systems
Information Age
infinite quantities of facts widely available to anyone who can use a computer.
Entry Barrier
product/ service that customers expect and entering competitors must offer the same for survival.
Competitive Advantages
product/ service that customers place a greater value on than similar offerings from a competitor.
Value Chain Analysis
series of business processes that add value to the product or service.