CIS Vocab #2- Chp 1, 2, 4

Information Governance

A method or system of government for information management or control; an example is the Information Technology Infrastructure Library (ITIL) that we are using as a way to organize our course!

Stakeholder

A person or group that has an interest or concern in an organization

Information Privacy Policy

Contains general principles regarding information privacy

Ethical Computer Use Policy

Contains general principles to guide computer use behavior

Switching Costs

Costs that make customers reluctant to switch to another product or service (and therefore buyer power is reduced); these include financial as well as intangible values

Critical Success Factors (CSFs)

Crucial steps companies perform to achieve their goals and objectives and implement their strategies

Rivalry Among Existing Competitors

High when competition is fierce in a market and low when competitors are more complacent

Threats of New Entrants

High when it is easy for new competitors to enter a market and low when there are significant entry barriers to entering a market

Threat of Substitute Products or Services

High when there are many alternatives to a product or service and low when there are few alternatives from which to choose

To-Be Process Model

Shows the results of applying change improvement opportunities to the current as-is process model

Workplace (Employee) Monitoring Policy

States explicitly how, when, and where the company monitors its employees (which occurs when employee keystrokes, error rates and numbers of orders processed are tracked)

Business Strategy

A leadership plan that achieves a specific set of goals or objectives

Authentication

A method for confirming user's identities

BYOD

Bring your own device

First Line of Defense (People)

A big security problem for organizations is caused by insiders who are employees and legitimate users who purposely or accidentally misuse their access to data and cause some kind of business-affecting incident; information security policies and plans can help defend insider attacks

Information Security

A broad term encompassing the protection of information from accidental or intentional misuse by persons inside or outside an organization Information Security Plan This details how an organization will implement the information security policies

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

System

A collection of parts that link to achieve a common purpose

Digital Dashboard

A common tool that supports visualization (the graphical displays of patterns and complex relationships in large amounts of date); it tracks key performance indicators and critical success factors by compiling information from multiple sources and tailoring it to meet user needs

Entry Barrier

A product or service feature that customers have come to expect from companies in a particular industry and must be offered by an new entering competitor to order to survive

Competitive Advantage

A product or service that an organization's customers place a greater value on than similar offerings from a competitor

Loyalty Program

A program to reward customers based on spending (which can also reduce buyer power)

Executive Information System

A specialized DSS that supports senior-level executives and unstructured, long-term, non-routine decisions requiring judgment, evaluation, and insight at the strategic level

Business Process

A standardized set of activities that accomplishes a specific task, like processing a customer's order or registering a student for classes

Systems Thinking

A way of monitoring the entire system by viewing multiple inputs being processed or transformed to produce outputs while continually gathering feedback on each part

Internet of Things (IoT)

A world in which interconnected, Internet-enabled devices or things, can collect and share data without human intervention (often, machines connect directly to other machines in what is known as machine-to-machine, or M2M

Typical Departments in a Company

Accounting, Finance, Human Resources, Marketing, Operations Management, and Sales (and Management Information Systems/Information Technology!)

Business-Facing Process

Also called back-office processes, these are invisible to the external customer but essential to the effective management of the business; these include goal setting, day-to-day planning, giving performance feedback, and rewards

Customer Facing Process

Also called front-office processes, it results in a product or service received by an organization's external customer; these include fulfilling orders, communicating with customers, and sending out bills and marketing information.

Threat

An act or object that poses a danger to assets; it can be caused by a hacker (those who use their knowledge to break into computers and networks for profit or for the challenge of it); and it can be caused by viruses (software written with malicious intent to cause annoyance or damage, like worms, adware, spyware and ransomware)

Product Differentiation

An advantage that occurs when a company develops unique differences in its products with the intent to influence demand

First Mover Advantage

An organization can significantly increase its market share by being first to market with a competitive advantage

Porters Five Forces Model

Analyzes the competitive forces within the environment in which a company operates to assess the potential for profitability in an industry

Business Process Improvement

Attempts to understand and measure the current process and make performance improvements accordingly

Information

Data converted into a meaningful and useful context (like the best customer last month, the slowest-selling product, and the strongest or weakest sales rep)

Email Privacy Policy

Details the extent to which email massages may be read by others

SWOT Analysis

Evaluates an organization's strengths, weaknesses, opportunities and threats to identify

Support Value Activity

Found along the top of the value chain and includes business processes, such as firm infrastructure, human resource management, technology development, and procurement, that support the primary value activities

Primary Value Activities

Found at the bottom of the value chain, these include business processes that acquire raw materials and manufacture, deliver, market, sell, and provide after-sales services

Information Ethics

Governs the ethical and moral issues arising from the development and use of information technologies as well as the creation, collection, duplication, and distribution, and processing of information itself and is different from ethics (the principles and standards which guide our behavior toward other people)

Second Line of Defense (Technology)

Includes the following three areas: 1) authentication and authorization, which prevents identity theft; phishing (usually fraudulent emails that often ask for account names and passwords) and pharming (which reroutes requests for legitimate websites to false websites) scams; and 2) prevention and resistance, which stop intruders from accessing and reading data through content filtering (often filters emails to remove sensitive information), encryption (scrambling information into an alternative form that requires a key or password to decrypt), and firewalls (hardware or software that guards a private network by analyzing incoming and outgoing information for the for the correct markings); and 3) detection and response, which often uses intrusion detection software

Knowledge

Includes the skills, experience, and expertise, coupled with information and intelligence, that create a person's intellectual resources

Workflow

Includes the tasks, activities, and responsibilities required to execute each step in a business process Acceptable Use Policy Requires a user agree to follow it in order to be provided access to corporate email, information systems, and the internet; this policy often contains a "nonrepudiation clause" which is a ontractual stipulation to ensure that ebusiness participants do not deny their online actions

Business Intelligence

Information collected from multiple sources such as suppliers, customers, competitors, partners, and industries that analyzes patterns, trends, and relationships for strategic decision-making

Intellectual property

Intangible creative work that is embodied in physical form and includes copyrights (the legal protection afforded an expression of an idea), trademarks, and patents (an exclusive right granted by the government to an inventor to make, use or sell an invention)

Structured Decision

Involves situations, where established processes offer potential solutions; these operational decisions are made frequently and are repetitive in nature

Business Process Reengineering (BPR)

Looks beyond automation and streamlining as part of the analysis and redesign of workflow within and between enterprises

Effectiveness MIS Metrics

Measure the impact MIS has on business processes and activities including customer satisfaction and customer conversion rates

Efficiency MIS Metrics

Measure the performance of MIS itself such as throughput, transaction speed, and system availability

Decision Support Systems (DSS)

Model information using online analytical processing (OLAP), which provides assistance in evaluating and choosing among different courses of action

Unstructured Decision

Occurs in situations at the strategic level, in which no procedures or rules exist to guide decision makers toward the correct choice

Social Media Policy

Outlines the corporate guidelines or principles governing employee online communications

Data

Raw facts (like order dates, amounts, or quantities) that describe the characteristics of an event or object

Chief Information Officer (CIO)

Responsible for (1) overseeing all uses of information technology and (2) ensuring the strategic alignment of IT with business goals and objectives

Chief Knowledge Officer (CKO)

Responsible for collecting, maintaining, and distributing company knowledge

Chief Privacy Officer (CPO)

Responsible for ensuring the ethical and legal use of information within a company

Chief Security Officer (CSO)

Responsible for ensuring the security of business systems and developing strategies and safeguards against attacks from hackers and viruses

Chief Technology Officer CTO)

Responsible for ensuring the throughput, speed, accuracy, availability, and reliability of an organization's information technology

Three Techniques for Authentication and Authorization

Something the user knows (ID and password); something the user has (such as a smart card, which is a credit card device storing info, or a token, a small electronic device that changes user passwords automatically); or something that is part of the user (such as biometrics, which identify the user based on physical characteristics such as a fingerprint or voice/face recognition

Electronic Discovery (Ediscovery)

The ability of a company to identify, search, gather, seize, or export digital information in responding to a litigation, audit, investigation, or information inquiry

Buyer Power

The ability of buyers to affect the prices they must pay for an item; it is high when buyers have many choices of whom to buy from and low when their choices are few

Business Model Processing

The activity of creating a business process model, which is a graphical depiction of a detailed flowchart or process map of a work process that shows its inputs, tasks, and activities in a structured sequence

Confidentiality

The assurance that messages and information remain available only to those authorized to view them

Transaction Processing System (TPS)

The basic business system that serves the operational level (analysts) and assists in making structured decisions; an example is an operational accounting system such as payroll or an order-entry system

Online Transaction Processing (OLTP)

The capturing of transaction and event information using technology to 1) process the information according to defined business rules, 2) store the information, and 3) update existing information to reflect the new information

Managerial Level

The level at which employees are continuously evaluating company operations to hone the firm's abilities to identify, adapt to and leverage change

Operational Level

The level at which employees develop, control, and maintain core business activities required to run the day-to-day operations

Strategic Level

The level at which managers develop overall business strategies, goals and objectives as part of the company's strategic plan

Online Analytical Processing (OLAP)

The manipulation of information to create business intelligence in support of strategic decision-making

Competitive Intelligence

The process of a company gathering information about the competitive environment, including competitor's plans, activities and products in order to improve the company's ability to succeed

Authorization

The process of providing a user with permission including access levels and abilities such as file access, hours of access, and amount of allocated storage space

Analytics

The science of fact-based decision making

Key Performance Indicators (KPI)

The specific quantifiable metrics a company uses to evaluate progress toward critical success factors

Supplier Power

The suppliers' ability to influence the prices they charge for their supplies. It's high when buyers have few choices of whom to buy from and low when their choices are many.

Semistructured Decisions

These often managerial level decisions occur in situations in which a few established processes help to evaluate potential solutions, but not enough to lead to a definite recommendation decision

Granularity

This refers to the level of detail in the model or the decision-making process. High levels of this indicates deeper levels of detail or fineness of data.

As-Is Process Model

This represents what the current state of the operation that has been mapped without any specific changes or improvements

Value Chain Analysis

Views a firm as a series of business processes that each add value to the product or service