IT Midterm Cheat Sheet
IT Midterm Cheat Sheet
Hult International Business School
Popular in IT Management
Popular in International Business
This 3 page Study Guide was uploaded by Mischa Rapt on Tuesday September 29, 2015. The Study Guide belongs to at Hult International Business School taught by Ted Ladd in Summer 2015. Since its upload, it has received 18 views. For similar materials see IT Management in International Business at Hult International Business School.
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Date Created: 09/29/15
creates and captures value right value leftexecutioncost Business Model Lean Canvas Social Venture Iwatch sample canvas K leu e Customer Annuities Pm pulelun Relationships I Problem Solullon Unique alue gurtamdvamage usmmer Prupusiti n Segments op problems an ealuves can I 2 835 y Single cle coried or bought Target customers Problem soiumiov Customer Veiue lLrnfesr 39 cw rg f fe 3ng Segments Pmpasition Cmnetiti39 Regular ans my 39 g Am39amage Key Metric amquot mquot Crannels Key ac wihcs you Pa39h In customers measure Metrics 5 1592 lt hannels Partner 39 l cullI Cost Structure 39 evenue 9 Distribution Costs lite Time Value Hnslrng R eeee ue Rawcm w People etc Gross Margin Fi rm Ices Casts an Il391139i gtlr i iquotl quotquot quotquot39quot quotF quotm PRODUCT MARKET NOT a business model Scenarios what if Contingencies if then CompetitionANY exogenous factorsStrategy Mass MarketPreconditions e g owns an iPhoneGeography Why for internet biz 2DemographyPsychographyBehaviorsEventsNetworks Why for internet biz 2 Usersdon t pay vs customerspay2Early vs late adopters 2Different segments in different colorsAvoid circular references ie people who want this Featare Benefit 2 Solution to an actual problem 2 Extra credit data to prove the problem exists it is painful aspirin vs Vitamin the solution solves the problem customers believe this solution Pull callreaching out to customers vs pushsending messages to theme g advaertising 2 Web Google AdWords for pickled herring Facebook Facebook ads for Danish gt40 males who have liked food groups Gold calls List of X database with Y salespeople making Z callsdayDave How do users find youAcquisition Do users have a great first experienceActivation Do users come backretentionHow do you make moneyRevenueDo users tell othersReferral quotDisintermediationquotcutting out all middle meninternet create new intermediaries instead of disintermediating Clicks and mortar Retampil storeApplebranded store next to X productsBestBuy in geographies with median income of X9nline steresAmazoncom under X keyword with Y promotion Units per hour per item per contract per GB Not actual s yet 41 unit Multiple streams for each segmentSalesAds SponsorshipData miningDifferent value prop for each streamDifferent price for each segment discrimination Partnershipsconsider what they can do for you can be empty but can be everywhere else in model eg cos AnonymityTransparency1 1 relationshipOnetomanySelfhelpCommunity creating contentNot a wish listImplication for channel and cost First resort Last resort Where do you appear in their business modelRevenue Cost ChannelHow do you compare to their other optionsRisk Size ReachDifferent interpretations What mature company would do and What you will do to make mature Lean steps IMHO less important unless nonobviousHard assetsSkills of existing foundersNecessary skills to be filledAdVisorsIntellectual PropertyRoleeFixed costs and variable unit costsEstimate at immaturity and maturity scale Prepare to connect to all other items Limitations of a Business Model Internal is arrogantNo context for leverageNo competition or contingencies for defensibilityBMC is unproven Lean Canvas By Maurya how do you know if you re right don t spend money first start with a business modelwith a set of hypotheses test with customer discoverystart with narrow focus on customers then more forward to other areas Refine decisions with experiments 1Business Model 2 Customer Discovery 3Experimentation ma system or application program which continues to be used because of the cost of replacing or redesigning it outdated hardware highly customized programs that would be expensive to recreate or budget constraints Inertia If it ain t broke don t x it hardwaresoftwarewifiall elements that do the work store retrieve transmit and manipulate data application software management of IT resources people and computers that processes or interprets information eg Raw data from a supermarket checkout counter can be processed and organized to produce meaningful information such as the total unit sales of dish detergent or the total sales revenue from dish detergent for a speci c store or sales territory Typical elements in Information System Inputs e g orders Outputs e g inventory report ProcessingActions Storage of Data and Information connections eg supplierswarehousecentral hq banking Internet of Things devices with common language that can connect together competitive disadvantage if you re not able to meet industry standards potential to be left outunable to participateconnect early days of automation of repetitive taskseliminated jobs 6 Strategic Business Objectives1 Wal Mart s RetailLink system links suppliers to stores for superior replenishment system Apple s iPod then iPad then WHAT the i Highend hotels that use computers to track customer preferences and use to monitor and customize Verizon s Webbased digital dashboard to provide managers with realtime data on customer complaints network Toyota s Production System enjoys a considerable advantage over competitors Information systems are Keep up with the competition Citibank s introduction of ATMs OR Meet government regulations gun database or environment performance line outages etc 5 critical to the implementation Sarbanes Oxley being able to respond to what is going on in your industry Being adaptable in new changing markets Benefits 1 Competitive advantage 2 Service excellence 3 ob Satisfaction IT doesn t matter should not be bought for technology s sake as long as it is aligned with business Mindset of company certain things needed to know to stay more agile and know customers around them If its easier to outsource why spend more Not always an obvious decision in reality there s always a cost to be paide g user fee Bene ts growth capabilities cost reduction accessible Risks security privacy issuesaccessibilityreliance on internet Cloud Environments Google Drive OneDrive iCloud apple Dropbox etc Store your les in the cloud Software as a Service Gmail Salesforce GoTo Meeting etc Use an application in the cloud Infrastructure as a ServiceAmazon Web Services Microsoft Azure GCE Google Compute EngRun YOUR 1 General Numlmsm a Cum bdean operations some or ALL in the cloud Platform as a SerVIceApplication Development using Cloud based middleware and development toolsDevelop or change applications integrating cloud rnctionality and services controlled migration and play Dyan discontinuity open u 7 ou can rent server s ace Instead of urchasm to I ld of server costs de ends on costs and differential need 2 harmonise if y p p g p 501me Wm O and the amount of resources you have access to preferred machine can control access to the data f fmd l a way to compare expected costs between two or more computer environments over mmgll urlcfm wm blimp T the coming 2 4 yearsMeasures locally managed computer resources with maintenance and support costs vs the 3937 7 r l I Emmgf pn m mf monthlyannual cost per user per application and for storage a computing needs Most Cloud vendors have TCO 5 rib if calculators to measure financial impact of moving all or a portion of operations to the Cloud icguuwa billiw L E Value of product for each user z of users Graph valueuser x users straight line increasing line mm lotjeai wummcn mM same side of transaction usually via communications Facebook Indirect impact on lm 1 mmmmmmm opposite side of transaction and then back usually via platforms iOS apps Wrof39lhe39sgnemconsidctcoums andbridgc brand technology Event downstream 1n value chaln 1mpacts upstream 11nk L Pw wmck is Mdymcm WWW product gtsat1sfact10ngtreputat10ngtother sales r other sales 1mpacts satlsfactlon the magazindd itweelrgoixweaktr 39 39 39 39 1 33mg digging in the W Mm m Re1nforc1ng change Pos1t1ve growth slope l legatlve decllne slope I I I I I I thm m Salim amdictabl c mm 3 stab111z1ng congest10n 1n ect10n p01nt and dechne Graph negatlve llne d1m1n1sh1ng shaped39 or quotlogistic path slow explosive mm Mung returns decllne 3 Consumers tech widely o as my WWW Winn admits with rm Value or harm not 1nc1uded 1n the pr1ce due to network effect Pos1t1ve valuegtprlce reach demandesitle or scale Negative valueltprice g l fear or c cmaiiiicsm a ggatmliuw feedback tum mum TSIDE of network effect Pos1t1ve valuegt0 Negative valuelt0 gt costgt0 m m lfeuinaCA39 39 admiring t Lwn D W Cost decreases as un1ts 1ncrease Graph FC VC AC MC 1h Production supply unitsl or MCI IAC arm maliceamid technologies Demand network effect I MC of demandl mm mmem m Innovators win With network effect rst movers gain users Wm M Switching costs Individual may be trivial Collective may be massive Lockin for incumbents lim m h hu withlads ms prade Temporary advantage gt temp monopoly Winpertakeall i I I 145 g mgrr Combatting Network Effect Fast Follower w1th Compat1b111ty Performance Revolutlon ng m Network Effect Jargon for Startups threshold for network effect Tipping point No easy way E W m id a jmg 1 PPSWBVME to predict it ahead of time Often a prefacto justification for product network effect for marketing buzz 115mqu memahues have med m the past word not network effec actlve users or customers AianB Company serviceSharing Economy Utilization of idle assets 2sided market Home owners for 1istingsRenters for rentals DirectFor renterowners during 1st and only transactionRatings of reputation by other users on same side of market Anticipate condition problems surroundings Indirect More listingsgtattract more rentersgtmore rentalsgtattract more ownersgtmore listings Price competition More renters increases bene ts to existing renter Externalitiesusers Vemore renters more competition prices decrease places increase nonusersveincreased tourist and dining activity vediruptive in apts Economiesof Scalesupplyhuge FC small VCcosts decrease as units increase demandusers creating more value without doing anything growing demand for each transaction Competitive Advantageno required constructionsjust use existing platformljsharing economy ConclusionValue for one user related to of users Designed into business model Feedback loops externalities monopolies Sharing economyIncreasing utilization of existing assets Making a marketLeveraging social In addition most apps have CONNECTIONS Order total to accounting or Product ordered to manufacturing Web server to web app Dropbox to cloud eGoogle to iPad CRM to laptop Apple store to iphone Online orders to PayPal business orders to supplier Daily Operationsreportsamptools for better managing the functional cross department data management and process coordinationesp ERP but also specialized systemsCRMSupplyChainManagementKM Decision support system Executive information system Value of Sharing Information WHY would a salesperson care if their customer is dealing with a major product or support issue WHY would an inventory manager care if one of their major suppliers had bills in Accounts Payable that were 45 days overdueWHY would a support manager care if a major upgrade sales deal was under discussion with a long time customerTHESE ARE ALL SITUATIONS where having an integrated view of the business can make employees more effective in their day to day responsibilities How to manage Data in IT environment can mean smallest unit a computer can collection of bits a letter a number quotcharactersquot group of characters for a speci c use nameAlal 147TRBUT quotnamequot 30 alpha characters collection of related elds student recordAl64 quotENTITYquot name enter date degree type etc Group of records of same type A Cohort or Teamre typically organized by related attributes student personal data vs nancial records for fees paid vs record of courses taken with grades earned consist of multiple les with related information Fies are LINKED by quotID codequot such as Student ID A quotStudent Status Report might use data from multiple les Student name and degree program grade point average fees Name phone address Hut graduation program Fields with de ned size amp type email content notes shipping instructions etc Fields with unde ned size or type text up to a max of xx characters A Centralizes and manages dataensures What can they NOT DO for usldentilj amp Fix an underlying business probem wrong product pricing process poor quality unresponsive service etc Design new products for marketMake HRHiringFiring decisions They CAN provide the supporting data to help us decide what we need to do to make our company grow thrive be more productive amp pro table What creates VALUE in an application For Customer OrganizationMPROVED ProcessesNCREASED ProductivitySHORTER Production timesBEiTER Prospect to Sales con version Vendor organizations have lots of data to help nd the quotpotential value of an application for YOUR business Business need and strategy should drive IT decisions NOT the other way around AND IT for IT s sake in business is an empty and often expensive investment The is a strategic planning and management system quotused extensively in business and industry government and nonpro t organizations helps to align business activities to the vision and strategy of the organization Helps improve internal and external communications and monitor organization performance against goalsLooking at Vision amp Strategy from 4 perspectivesLEARNING amp GROWTHBU5NE55 PROCESS CUS TOMER5FNANCAL MOORE MEDICALOptions CRMdemand planningERPbot onERP xesweb interface Problemneed to build relationship with customers losing COGS split ordershuge cost assumptions on customers pricesensitiveetcsales force did not check why customers have stopped ordering don t know why they39re losing customers haven t invested basic actions to nd whyCRM no real capacity to take a lot more change and don t really know why customers are leavinggtSolution Demand processing will drop costs to get right demand right product at right time Conclusion Have to know what your problem is before you throw softwareproblem isn39t well identi ed
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