MIS 250

Mckinseys Twelve disruptive technologies to watch

-Mobile Internet -Automation of knowledge work -The internet of things -Cloud Technology -Advanced Robotics -Autonomous and Near-Autonomous Vehicles -Next generation genomics -Energy storage -3D printing -Advanced Materials -Advanced oil and gas exploration & recovery -Renewable Energy

What is a management information system?

-The study of information systems -How people, technology, process, and data work together -Used to describe a special type of information system that supports tactical decision making at the managerial level

Describe Porter's five competitive forces that shape industry competition.

-Threat of new entrants -Power of buyers -Power of suppliers -Threat of substitutes -Rivalry among existing competitors

Describe three characteristics that make information valuable.

-Timeliness: realtime, summary, usefulness, immediacy, transaction -Accuracy: reliability, precision, future versus past -Completeness: Information shadow, sources, procedures, objectives versus subjective

Describe the main roles that information systems play in organizations

-support strategy and reduce cost. -supports: payrole, benefits, accounting, procurement, inventory tracking, and asset management.

Explain how disruptive innovations, government policies, complementary products and services, and other factors affect how the competitive forces operate.

-transform industry, legislate and regulate decisions, accelerate trends and call for changes in strategy.

Identify the components of the value chain

Support activities- Administration and management, Human resources, Technology support, and Procurement Primary Activities- Bring in raw resources -> Make the product or service -> Market the product or service -> Deliever the product or service -> Provide customer support

Describe the Internet

The Internet is a global network connecting millions of computers. More than 190 countries are linked into exchanges of data, news and opinions.

What are Strategic Information Systems?

There is no single strategic IS. It is the theory that IS is needed to support a firms strategy. IS can also be a source of new strategy or maintain existing strategy.

How do we create value through IS?

Through support and primary activities

Transmission media the internet uses

WiMax

Knowledge:

awareness or familiarity gained by experience of a fact or situation.

Compare the terms data, information, and knowledge

data: is both and input and a product of a system. Data is processed by the system and presented information: data or facts that are assembled and analyzed to add meaning and usefulness knowledge: data or facts that are assembled and analyzed to add meaning and usefulness

A model of Information Systems

multistore model

Circuit Switched Network

network in which the nodes communicate by first establishing a dedicated channel between them

Introduce Moores Law

-Advances in computer technology, such as processing speed or storage capabilities doubles every 18 months -New businesses are created and old disappear -capabilities increase as price decreases

Explain why the role of information systems in organizations shifts depending on whether the systems are deployed to run, grow, or transform the business.

-Calculating the profit of the business, if the business is growing or shrinking, etc. but using the data information systems collect and put out

Identify examples of disruptive innovation

-A new product or service, often springing from technological advances, that has potential to reshape an industry. -Ex. Digital camera replaced film cameras.

Identify disruption and strategies for dealing and responding to disruption

-A new product or service, often springing from technological advances, that has potential to reshape an industry. -finding error in the new product and sue. -The internet can spread these new ideas

Describe Information System

-A system that brings together four critical components to collect, process, manage, analyze, and distribute information - the four components are people, technology, processes and data.

Describe the four hardware components of a computer, giving examples of each component.

1. Input- keyboard, touch screens, digital cameras 2. Processing- CPU or SoC, controls the activities or functions that a computer preforms. 3. Storage- Primary-Temporary- RAM, ROM, EPROM. Secondary- Permanent, Portable, High Capacity 4. Output- Monitor, Projectors, printers, speakers.

Describe how information systems apply to competitive strategies for business

1. Low cost leadership strategy-offering a similar product at a lower price compared to competitors. 2. Product differentiation strategy-adding special features to a product or unique add-ons for which customers are willing to pay more 3. Focused niche strategy- differentiating a product or service for a particular market niche.

What is a system?

A collection of interrelated elements or components that are interdependent with a defined boundary (input, output, feedback, and control)

Client server Network

A network in which the workload for running applications is shared between the server and the client devices, such as desktop computers, laptops, or smart phones.

Peer to peer

A network in which there is no central server and computers can share files printer and an Internet connection with one another

Enterprise Architecture

A roadmap created by an organization to describe its current situation and where it should head to achieve its mission, focusing on business strategy and the technology infrastructure required to achieve it.

Packet switched Network

A technology used by networks in which data is broken into segments, called packets, for transmission. The packets contain information about their destination and position in the whole message, and they are reassembled at the receiving end.

Define a Computer

Any electronic device that can accept, manipulate, store, and output data & whose instructions can be programed

The process of IT value creation

Brings raw resources from suppliers, transforms them, and then markets the products/service to buyers

Types of Networks

Circuit switched Packet switched Client server Peer to peer

How is hardware and software used in the organization

Companies want to choose an operating system that already has a wise and wide selection of business oriented software available

Information

Data or facts that are assembled and analyzed to add meaning and usefulness (TIMELINESS, ACCURACY, COMPLETENESS,)

Define a network

Group of interconnected devices such as computers or phones that can share resources and communicate using standard protocol

Compare Information Systems to Information Technology

Information systems have four forces, while Information technology only has one, technology.

Data

Is both and input and a product of a system. Data is processed by the system and presented

Use the framework to analyze a firms ability to support strategy with IS.

Manage Risks (market, financial, legal, operational) <-> Reduce Costs (transactions and processes) Add value (Customers and Markets) <-> Create New Reality (New Products, Services, Business Ideas)

Identify and provide examples of the three major types of software, and briefly describe how they work.

Operating Systems- Computer Operating Systems: Windows 10, OS X, Linux. Mobile Operating Systems: iOS 8, Android Applications- Personal Productivity (Office), Business Applications Programming Languages- Cobol, Java, C++, Python, PHP

Describe the four main components of an information system and the role that each plays.

People: You need to identify and understand the roles and people involved in a system Technology: You need to identify and understand the roles and people involved in a system Data: Data is both and input and a product of a system. Data is processed by the system and presented Processes:a set of activities designed to achieve a task

Extended value chain

The chain does not end when the buyer pays for the product or service. Supplier <-> Internal Value Chain (5 steps) <-> Buyer ex. reviews on Amazon can influence the popularity of a product

What is information technology?

The hardware, software, and telecommunication that make up the technology component of information ex: laptops, cell phones, navigation systems.

Examples of network protocols.

Transmission Control Protocol and Internet Protocol (TCP/IP)