Business Driven Management Information Systems: A Study Guide Essay

Submitted By jls6424
Words: 4338
Pages: 18
Open Document
ISYS210 (Fall 2013) Exam 1 Study Guide
Chapter 1

Section 1.1 – Business Driven MIS
1) Information Age – when infinite quantities of facts are widely available to anyone who can use a computer

2) Core Drivers of the Information Age
A)
Data- raw facts that describe the characteristics of an event or object

Information- data converted into a meaningful and useful context

Business Intelligence- (BI)- Information collected from multiple sources such as suppliers, customers, competitors, partners, and industries that analyze patterns, trends, and relationships for strategic decision-making. B)
Variable- a data characteristic that stands for a value that changes or varies over time

3) Departmental Companies

a) Accounting-Records, measures, and reports, monetary Transactions

Finance- Deals with strategic financial issues including money, banking, credit

Human Resources- Maintains policies, plans, and procedures for the effective management of employees.

Marketing- Supports sales by planning, pricing, and promoting goods or services. Operations Management- Manages the process of converting or transforming or resources into goods or services.

Sales- Performs the function or selling of selling goods or services
4) Management Information Systerms-(MIS) is 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.
MIS incorporates systems thinking to help companies operate cross-functionally

5) 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 (4 PARTS)

1. Inputs
2. Processing
3. Outputs
4. Feedback- information that returns to its original transmitter (input, transform, or output) and modifies the transmitter’s actions.

6) MIS Roles and Responsibilities

Chief Information Officer- (CIO) – Oversees all uses of IT and ensures the strategic alignment of IT with business goals and objectives

Chief Knowledge Officer- (CKO) - Responsible for collecting, maintaining, and distributing the organization’s knowledge

Chief privacy officer (CPO) – Responsible for ensuring the ethical and legal use of information

Chief security officer (CSO) – Responsible for ensuring the security of IT systems

Chief technology officer (CTO) – Responsible for ensuring the throughput, speed, accuracy, availability, and reliability of IT

Section 1.2 – Business Strategy

1) Comparative Advantage- A product or service that an organization’s customers place a greater value on than similar offerings from a competitor

First Mover Advantage- Occurs when a company can significantly increase its market share by being the first with a new competitive advantage.

2) Competitive Intelligence- The process of gathering information about the competitive environment to improve the company’s ability to succeed

Competitive intelligence tools
Porter’s Five Forces Model
Porter’s Three Generic Strategies
Porter’s Value Chain Analysis

3) Porter’s Five Forces Model- analyzes the competitive forces within the environment in which a company operates to assess the potential for profitability in an industry. Its purpose it to combat these competitive forces by identifying opportunities, competitive advantages, and competitive intelligence.

If the Forces are STRONG they INCREASE competiton
If the Forces are WEAK they DECREASE competition

The 5 Forces

1) Buyer Power- is the ability of buyers to affect the price they must pay. Factors used to assess buyer power include number of customers, their sensitivity to price, size of orders, differences between competitors, and availability of substitute products.
Switching Costs- Manipulating costs that make customers reluctant to switch to another product
Loyalty Programs- Rewards customers based on the amount of
Show More

Related Documents: Business Driven Management Information Systems: A Study Guide Essay

Research Business Research Paper

Current Research Business Research Project Paper University of Phoenix Jeanette Carey Res/341 November 10, 2011 Kenneth Le Cour, M.B.A & M.S.Q.A. Current Research Business Research Project Paper The health care service is the business, such as hospitals, doctor offices, and urgent care clinics across the board safety issues for the human factors. “Research that addresses human factors issues in health care has made good progress since the…

Words 433 - Pages 2

Key Factors That Have Been The Remote Environment Trends That Determine The Current Profitability Of The Industry

Are you able to identify the stage of the industry life-cycle? • What have been the remote environment trends that have driven the industry to its current state? Are these factors changing? What will be their impact on future growth in the industry? Use PESTEL to analyse these trends – in particular using the “Issues for consideration” within each factor in the Study Guide. • What are the forces within the industry that determine the current profitability of the industry? Are these forces changing…

Words 948 - Pages 4

Melnyk et al.2014 Essay

This article was downloaded by: [BI Norwegian Business School] On: 27 May 2014, At: 03:37 Publisher: Taylor & Francis Informa Ltd Registered in England and Wales Registered Number: 1072954 Registered office: Mortimer House, 37-41 Mortimer Street, London W1T 3JH, UK International Journal of Production Research Publication details, including instructions for authors and subscription information: http://www.tandfonline.com/loi/tprs20 Supply chain design: issues, challenges, frameworks and…

Words 6142 - Pages 25

Enterprise Architecture Justification Paper Va Dmv

Virginia Department of Motor Vehicles Enterprise Architecture Justification Paper Case Study Written by: June 14, 2000 IFSM 311 Professor To consider what enterprise architecture means, it is important to understand its origin. All architecture within information technology can track its ancestry back to the lessons learned from building architecture. Enterprise Architecture is the description and visualization of the structure, a blueprint if you will, of a given area of contemplation…

Words 982 - Pages 4

Business Ethics: Principles, Values, And Behavior In The World Of Business

LEARNING STUDY GUIDE 1. Ethics defined: Study of Morals; The standards by which we determine what is right or wrong, good or bad/evil, ethical or unethical; inquiry into the nature and grounds of morality where the term morality is taken to mean moral judgments, standards and rules of conduct.; the study and philosophy of human conduct, with an emphasis on determining right and wrong. 2. Business ethics defined: the principles, values, and standards that guide behavior in the world of business. 3…

Words 1627 - Pages 7

Essay about Proposal Exemplar Distinction

Master of Arts Business Management (Top Up) Commercial Awareness in the NHS MBT7105 Research Proposal 1 IMBT7105 Abstract The context of this study is a large National Health Service (NHS) Community Provider within the North West operating within a market driven environment. The aim is to explore what ‘being commercial’ means to the organisation. Whilst literature exists on what commercial means within a conventional business environment little has been written on how this translates to the unique…

Words 4012 - Pages 17

Essay on Seminar 1

Words of Wisdom “The secret of a good [seminar] is to have a good beginning and a good ending; and to have the two as close together as possible.” (George Burns) 2 Business and Economics Welcome to the wonderful world of ... Advanced Strategic Management Presented by Ralph Kober Accounting ACF5100 Advanced Strategic Management Accounting Can you pass it? YES YOU CAN! “Learning is not attained by chance, it must be sought for with ardour and attended to with diligence” (Abigail Adams, 1744…

Words 3552 - Pages 15

Essay on Literature Review on Performance Management

CHAPTER TWO 2.0 LITERATURE REVIEW 2.1 Introduction Over the last two decades, Performance Information, its implementation and presentation to the end users which directly refers to the subject of performance measurement (PM) has gained increasing interest and recognition in the general management literature, leading Neely (1999), when referring to the many contributions on the subject, to talk about the Performance Measurement Revolution. He demonstrated that between…

Words 9206 - Pages 37

Swot Analysis Of Hntechno

and director of oprations, The management team is small group of experts whose main obsession is studying Business and corporate characteristics. HNTECHNO is an innovative technology industry focused, business driven Professional service…

Words 1475 - Pages 6

Essay Change Control

factors. The patterns together comprised participants’ enactment of an answer to the existential question, “To have or to be?” Research limitations/implications – While interpretive research does not elicit generalizable results, the findings of this study illuminate the importance of choosing change strategies appropriate for the intended change, addressing what the change may mean to all involved, and confronting the contextual factors that undermine the change. Practical implications – New strategies…

Words 7958 - Pages 32