MIS Chapter 1

To what degree has technology permeated every management discipline? Be able to give a few examples of how technology has changed areas such as finance, marketing, operations, accounting, etc.

Finance- modern finance simply wouldn't exist without tech. When someone arranges for a bridge to be built in Shanghai, those funds aren't carried over in a suitcase—they're digitally transferred from bank to bank. Marketing- the ability to track customers, analyze campaign results, and modify tactics has amped up the return on investment of marketing dollars, with firms increasingly shifting spending from tough-to-track media such as print, radio, and television to the Web Operations- Quality programs, process redesign, supply chain management, factory automation, and service operations are all tech-centric. Accounting- The numbers used by accountants are all recorded, stored, and reported by information systems, and the reliability of any audit is inherently tied to the reliability of the underlying technology. Human Resources- Knowledge management systems are morphing into social media technologies—social networks, wikis, and Twitter-style messaging systems that can accelerate the ability of a firm to quickly organize and leverage teams of experts Law- Intellectual property, patents, piracy, and privacy are all areas where activity has escalated dramatically in recent years.

In the past decade, how has technology helped bring about radical changes across industries and throughout societies?

New technologies have fueled globalization, redefined our concepts of software and computing, crushed costs, fueled data-driven decision making, and raised privacy and security concerns.

What kinds of jobs are available to someone with an IT background?

While the job market goes through ebbs and flows, recent surveys have shown there to be more IT openings than in any field except health care.

Disruptive Technology

a technology that begins by satisfying a distinct (often low-end) niche market, but eventually overtakes the dominant technology and replaces it in its main market

What is the impact of a disruptive technology?

eventually disrupts an existing market and value network (over a few years or decades), displacing an earlier technology.