1 Chapter 1

system

a collection of parts that link to achieve a common purpose

Porter's Five Forces

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

systems thinking

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

Internet of Things

a world where interconnected, Internet-enabled devices or "things" can collect and share data without human intervention

information

data converted into a meaningful and useful context

SWOT Analysis

evaluates an organization's strengths, weaknesses, opportunities, and threats to identify significant influences that work for or against business strategies

support value chain activities

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 chain 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

business intelligence

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

data

raw facts that describe the characteristics of an event or object

Chief Information Officer

responsible for (1) overseeing all uses of MIS and (2) ensuring that MIS strategically aligns with business goals and objectives

knowledge

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

analytics

the science of fact-based decision making