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Final Exam Study Guide

by: George Kanavos

Final Exam Study Guide BUS-K 201

Marketplace > Indiana University Northwest > BUS-K 201 > Final Exam Study Guide
George Kanavos
GPA 3.0
The Computer in Business
Cynthia Stone

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Great Final Exam Study Guide!
The Computer in Business
Cynthia Stone
Study Guide
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This 9 page Study Guide was uploaded by George Kanavos on Wednesday February 4, 2015. The Study Guide belongs to BUS-K 201 at Indiana University Northwest taught by Cynthia Stone in Fall2015. Since its upload, it has received 163 views.

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Date Created: 02/04/15
Chapter 2 1 Cooperation group of people working together all doing the same type of work to accomplish a goal Collaboration group of people working together to achieve a common goal via a process of feedback and iteration produce receive feedback 2 The three primary criteria are successful outcome growth and team capability and meaningful and satisfying experience 3 Structured Decisions is a process for one which there is an understanding of an accepted method of making the decision Example a formula for computing the reorder of the quantity of an item Unstructured Decisions is a process in which there is no agreed on decision making method Example The stock market or a model that cannot predict the direction of the economy 4 Structure decisions are expensive wasteful and frustrating and there is seldom a need for one person to comment on someone else s work 5 Strategic Decisions are unstructured Example ls assessing how well suited an employee is for performing a particularjob They are often collaborative 6 The four phases of a project are Starting phase Fundamental purpose to set the ground rules for the project and the team Planning Phase To determine when work activities are de ned and resources such as personnel budget and equipment are assigned to the work activities Doing phase To ensure that tasks are accomplished on time and if not to identify schedule problems as early as possible Finalizing Phase If the work is not nished the team needs to de ne more tasks and continue the doing phase 7 Synchronous communication occurs when all team members meet at the same time such as with conference calls or facetoface meetings Asynchronous communication occurs when team members do not meet at the same time such as when employees work different shifts or when team members work in different time zones around the world 8 Team Surveys another form of communication technology They are an effective way to obtain team opinions they are generally easy to complete so most team members will participate 9 Version control the process that occurs when the collaboration tool limits and sometimes even directs user activity It involves user activity limit by permissions document checkout version histories and work ow control 10 SharePoint Online An industrial strength product for content sharing It has deep and rich features and it can handle massive amounts of data and hundreds of users CHAPTER 8 1 Social Media SM The use of information technology to support the sharing of content among networks of users It enables people to form communities tribes or hives All of which are synonyms that refer to a group of people related by a common interest SMIS Social Media Information Systems An information system that supports the sharing of content among networks of users User communities Social media sponsors Social media application provider 2Social Media Sponsors Companies and other organizations that choose to support a presence on one or more SM cites Social Media Application Providers The companies that operate the SM cites 3Defenders of Belief Share common beliefs and form their hive around that belief They seek conformity and want to convince others of the wisdom of their belief Seekers of Belief They share a common desire to learn something solve a problem or make something happen They can be useful in customer service activity as long as they don t conclude that the best way to solve a product problem is to use another company s product 4SLATES Model a S Search People have more success searching than they do in nding from structured content b L Links Links to enterprise resources like on the web c A Authoring Create enterprise content by blogs wikis discussion groups and presentations d T Tags Flexible tagging results in folksonomies of enterprise content e E Extensions Using usage patterns to offer enterprise content via tag like the style of Pandora f S Signals Pushing enterprise content to users based on subscriptions and alerts 5 Business Literature a Capital The investment of resources for future pro t which also refers to investments into resources such as factories machines and manufacturing equipment b Human Capital The investment in human knowledge and skills for future pro t c Social Capital The investment in social relations with the expectation of returns in the marketplace Example Joining Linkedln or contributing to FacebookTwitter You are investing in social capital i Adds value with information Hn uence iii Social credentials iv Personal Reinforcement 6Hyper Social Organization An organization that uses social media to transform its interactions with customers and employees and partners into mutually satisfying relationships with them and their communities a Four Pillars i Consumers to Humans ii Market Segments to Tribes iii Channels to Networks iv Structure and Control to Messiness 7 To facilitate the transition from a structured process to a dynamic one the hyper social organization model de nes a dynamic process called SEAMS a Sense Important communities What they do Where they hangout What they care about and How your organization can relate to them Engage In relationships Talk with not to community members Customers Employees Partners Activate Connect communities to your internal value chains and processes Measure Success in terms of social capital Story tell Publicize community successes Take a backseat role to the community 8Web 20 It generally refers to a loose grouping of capabilities Technologies business models and philosophies Look at page 277 for differences 9lntel Corporation created an open and employee trusting SM policy that is a model for Hyper Social Organizations to emulate The six guiding principles are Stick to your area or expertise Post meaningful respectful comments Pause and think before posting Respect proprietary and content and con dentiality When disagreeing with others keep it appropriate and polite Know and follow company code of conduct and privacy policy 10 The major risks for businesses that indulge in commercial applications of social networking a Leave it b Respond to it c Delete it 09069 h 11 If the problematic content represents reasonable criticism of the organization s products or services the best response may be to leave it where it is This criticism indicates that the site is not just a shill for the organization A second alternative is to respond to the problematic content however this is dangerous The response should be constructed in any way as patronizing or insulting to the content contributor The response can enrage the community and generate a strong backlash 12 In the context of CRM Hyper Social means that the vender loses control of the customer relationship a Customer use all the venders touch points they can nd to crack their own relationships b Emergence in the context of management means loss of control of employees Chapter 11 1Maior functions of IS Department a Plan the use of IS to accomplish organizational goals and strategy e Manage outsourcing relationships c Protect information assets d Develop operate and maintain the organization s computing infrastructure Develop operate and maintain applications 2CIO chief information of cer the principal manager of the IS department of an organization CIO reports to the chief executive officer CEO or in some companies to the chief nancial officer CFO Also known as a b c Vice president of information services Director of information services Director of computer servies 3CTO chief technology of cer often heads the technology group Evaluates new technologies new ideas and new capabilities and identi es those that are most relevant to the organization CTO s job requires deep knowledge of information technology and the ability to envision and innovate applications in the organization 44 groups in IS department a Technology office that investigates new information systems technologies and determines how the organization can bene t from them Operations manages the computing infrastructure including individual computers inhouse server farms networks and communications media Development manages the process of creating new information systems as well as maintaining existing information systems Outsourcing relations group exists in organizations that have negotiated outsourcing agreements with other companies to provide equipment applications or other services 5Major IS planning functions a Align information systems with organizational strategy maintain alignment as organization changes Communicate ISIT issues to executive group Developenforce IS priorities within the IS department Sponsor steering committee 65teering committee a group of senior managers from the major business functions that works with the CIO to set the IS priorities and decide among major IS projects and alternatives 70utsourcing process of hiring another organization to perform a service Done to save costs to gain expertise and to free management time Advantages include a Can be an easy way to gain expertise b Avoid management problems c Free management time 8How does outsourcing help reduce costs a Organizations can obtain parttime services b Gain economies of scale 9Facilitatind risk reduction a Caps nancials exposure risk b lmproves quality c Reduces implementation risks 10 Outsourcing alternatives a Software as a service SaaS is another outsourcing alternative that provides hosted applications and data storage b Another way is to outsource an entire system vendor provides hardware software data and some procedures Company need provide only employee and work information payroll outsource vendor does rest laaS cloud hosting Hardware Licensed software Software SaaS Data System Procedures Business function People Web storefront another form of application outsourcing Ex Amazoncom provides a Web storefront for product vendors and distributors who choose not to develop their own Web presence rhme L0 11 Loss of control with outsourcing a Loss of control over important business functions loss of human capital and important management resources b Put s vendor in driver seat each vendor has methods and procedures for its service which the organization must abide by c Other problems are that the outsource vendor may change management adopt a different strategic direction or be acquWed 12 Bene ts of outsourcing outweighed by longterm costs a Initial bene ts of outsourcing can appear huge but unit xed cost contracts may prevent bene ts of 13 0390 14 15 e 1 Economies of scale 2 Vendor de facto sole source dif culty for other rms to compete for subsequent contracts 3 Changing price strategy 4 No easy exit 5 Dif cult to know if vendor is well managed Risk associated with ending and outsourcing agreement There is no easy exit Outsource vendor s employees have gained signi cant knowledge of the company They know server requirements patterns of usage and the best procedures for downloading operational data into the data warehouse Consequently lack of knowledge will make it dif cult to bring the outsourced service back inhouse Because the vendor is so tightly integrated into the business partying with company can be extremely risky Because of such risk the company must invest considerable work duplication of effort management time and expense to change to another vendor 4 rights of users of information systems Computer hardware and programs that allow you to perform your job pro ciently Reliable network and internet connections A secure computing environment Contribute to requirements for new system features and func ons 4 responsibilities of users of information systems Learn basic computer skills and standard techniques and procedures for the applications you use Follow security and backup procedures Use computer resources according to your employer s computer use policy Make no unauthorized hardware modi cations and install only authorized programs Apply software patches and xes when told to do so Strategic Decision Making Strategic IT and SWOT lllmportance of Information Systems in decision making a b c d Analyzing large amounts of information Making decisions quickly Applying sophisticated analysis techniques Protect the corporate asset of organizational information 25trategy the longterm direction and scope of an organization to achieve competitive advantage 3De cision making process of selecting a course of action from among multiple alternatives 45 s a teps involved in decision making process De ne the problem and develop goals 1 Gather info about current state of a situation 2 Could create a descriptive model 3 Could use SWOT analysis results Gather necessary data and convert it to information 1 You will never have all needed info 2 Consult those who will be affect and will implement decision 3 Methods statistical analysis graphingcharting spreadsheet modeling Develop alternatives 1 Current available alternatives 2 Nonexistent alternatives to develop 3 Do nothing Using the information rate the alternatives 1 Using info you have created in step 2 rate you alternatives 2 Rate your alternatives by how thoroughly they meet you goals as de ned in step 1 Make your decision 1 Things to consider when making a decision change management and evaluation 2 Use you acquired knowledge 5Reactionary IT does not have anything to offer business peers beyond the status of projects and tracking of performances against budget and servicelevel objectives Strategic IT IT strategy is a long term planning for your organization s IT sector to utilize IT for your organization39s long term success 6SWOT analysis a model broken down into 4 quadrants that analyze where you are now where you want to be and then ma ke an action plan to get there a Strengths bWeaknesses c Opportunities dTh reat mComponents of SWOT analysis aStrengths good now maintain build leverage bWeaknesses bad now remedy stop LOpportunity good future prioritize optimize dThreat bad future coutner Spreadsheet modeling and charts 15preadsheet model a Mathematical model that approximates a real world situation b Describes the current state of a given situation c Prescribes a course of action based on past experiencedata 2Descriptive spreadsheet good for representing the current state of a given business situation Ex a snapshot illustrating numerical values Prescriptive spreadsheet adapted from descriptive spreadsheets to help in decision making Optimization and simulation models are examples 3Components of a spreadsheet model a lnputs facts you have no control over b Outputs values that will be affected by and return a result c Formulasrelationships use data in input and calculate output d Decision variables type of input can be changed in order to see affected outcome of outputs 4Characteristics of a good spreadsheet model Accuracy Clarity Flexibility Efficiency Documentation DP00quot 5Principles of spreadsheet design Use named ranges Use comments and text boxes Choose typography for readability Use color for emphasis or organization Prevent errors with data validation rules DP00quot


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