MIS CHAPTER 1: connect
Firm infrastructure
Includes the company format or departmental structures, environment, and systems
Competitive advantage
Is a feature of a product or service on which customers place a greater value than they do on similar offerings from competitors. Competitive advantages provide the same product or service either at a lower price or with additional value that can fetch premium prices.
Static report
Is created once based on data that does not change. Static reports can include a sales report from last year or salary report from five years ago.
Chief knowledge officer (CKO)
Is responsible for collecting, maintaining, and distributing the organizations knowledge
The chief data officer (CDO)
Is responsible for determining the types of information the enterprise will capture, retain, analyze, and share
Chief Privacy Officer (CPO)
Is responsible for ensuring the ethical and legal use of information within an organization
Chief Security Officer (CSO)
Is responsible for ensuring the security of MIS systems and developing strategies and MIS safeguards against attacks from hackers and viruses
The chief technology officer (CFO)
Is responsible for ensuring the throughput, speed, accuracy, availability, and reliability of an organizations information technology
MIS skills gap
Is the diff between existing MIS workplace knowledge and the knowledge required to fulfill the business goals and strategies
Competitive intelligence
Is the process of gathering information about the competitive environment, including competitor's plans, activities, and products, to improve a company's ability to succeed.
human resources
Maintains policies, plans, and procedures, for the effective management of employees
Operations management
Manages the process of converting or transforming or resources into goods or services
Sales
Performs the function of selling goods or services
Procurement
Purchases inputs such as raw materials, resources, equipment, and supplies
Accounting
Records, measures, and reports monetary transactions
Structured data
Stored in a traditional system such as a relational database or spreadsheet and accounts for about 20% of the data that surrounds us
Marketing
Supports sales by planning, pricing, and promoting goods or services
A dynamic report changes automatically during creation. Dynamic reports can include updating daily stock market prices or the calculation of available inventory
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Stakeholder
Who is a person or group that has an interest or concern in an organization
Porters 3 generic strategies
Broad cost leadership, broad differentiation, focused strategy
Switching Costs
Costs that make customers reluctant to switch to another product or service.
Chief user experience officer
Creates the optimal relationship between user and technology
Finances
Deals with strategic financial issues including money, banking, credit, investments, and assets