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