Final study guide (Lecture)
Final study guide (Lecture) BUS-K 201
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CSCI A110: Intro to Computers and Computing
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This 7 page Study Guide was uploaded by Austin Courter on Tuesday September 29, 2015. The Study Guide belongs to BUS-K 201 at Indiana University taught by Cynthia Stone in Fall 2014. Since its upload, it has received 34 views.
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Date Created: 09/29/15
K201 lecture review guide Chapter 3 0103 01 An organizations goals are determined by Competitive Strategywhich in turn determines structure features and functions of every IS Structure of business processes Industry StructuregtCompetitive StrategygtValue ChainsgtBusiness Processesgt Info Sys 02 Five Forces that determine Industry Structure 1 Bargaining force of Customers high when customers have lots of choices to choose from 2 Threat of substitutions high when the company is in an industry wtoo many other similar products being sold 3 Bargaining Power of suppliers Low when there are lots of suppliers for a business to pick from High strong when one company controls most of the industry so they charge however much they want 4 Threat of New Entrants Strong when it is easy to enter some industry Such as starting a corner latte stand where it is really easy to start This is weak when the barriers of entry are high 5 Rivalry occurs with competition with the same product Really aggressive High rivalry with things like car dealers bc there are so many of them Low when there aren39t a lot of companies that are alike yousuch as the IRS or BMV Q3 How does Analysis of Industry Structure determine competitive strategy Four competitive strategies 1 Cost wIndustrywidecompany seeks to have lowest cost across industry Hyundaimake a variety of mid quality products 2 Cost wFocusD Company seeks lowest cost within an industry segmentlowest car rental prices for a speci c segment like business travelers 3 Differentiation wIndustryWidebetter product across industry Mercedes make a variety of higher quality products 4 Differentiation wFocusDBetter productservice across industry segment Ferrari better product higher price Chapter 3 04 07 Q4 How does competitive strategy determine value chain structure Cost leader when a business strives to provide essential functions at the lowest possible cost Differentiation Strategy a Company may choose to have higher costs so those processes provide bene ts that outweighed the costs Margin Difference between the value that an activity generates and the cost of the activity Value Chain network of valuecreating activities Consists of 5 primarv activities and 4 suoport ones Primary Activities Inbound logistics Receiving and storing raw materials that will go in to making the product 0 Operations making materials into nal product 0 Outbound logistics shipping 0 Sales and Marketing Inducing buyers to purchase the products and providing a means to do so 0 Customer Service Assisting customers use of the products thus maintaining and enhancing value of product Support Activities Contribute indirectly to the production sale and service of the product 0 Procurement process of nding vendors setting up contractual agreements and negotiating prices 0 Technology Research and development as well as new techniques and methods and procedures 0 Human Resources Recruiting compensation etc of employees Firm Infrastructure nance accounting legal management Linkages interactions across value activities Manufacturing systems use them to reduce inventory costs 05 How do business processes generate value Business Process network of activities performed by people or computers that generate value by transforming inputs into outputs Cost cost of inputs plus cost of activities Activity Any Business function that receives inputs and produces outputsget and put data resources from and to databases Repository Collection of something a database is a repository of data and a raw material repository is an inventory of raw materials 06 How does Competitive strategy determine business processes and the structure of IS The strategy determines the business process and IS Company will study the industry and determine a competitive strategy then have a business process that covers all the business activities What are some competitive advantages a company would want to create 0 Bring in a new product or service make a product bettermake the product different from competitionmake IS part of the product itself or make the IS support the product Q7How do IS provide competitive Advantages IS tools can help lock in your customers create high switching costs lock in suppIiers create entry barriersform aIIiances reduce costs Product Implementations 1 Create a new product or service 2 Enhance products or services 3 Differentiate products or services Process Implementations Lock in customersbuyers expensive to switch Lock in suppliersdifficult to switch Raise barriers to market entry Establish aIIiances Reduce costs Chapter 8 0104 06 Pquot39gt 01 What is a Social Media Information System Social Media use of IT to support the sharing of content among networks of users Enables people to form communities tribes or hives aII of which refer to a group of people related by a common interest SMIS is an IS that supports the sharing of content among networks of users Three SMIS Roles User Communities based on mutual interests and transcend familial geographic and organizational boundaries you and your friends You and I when we give feedback share content create stuff respond and review 0 Social media sponsors Any company that supports a presence on social media 0 Social media application providers Companies like Twitter Facebook etc that run them SMIS Components 0 Hardware any computing device 0 Software browser 0 Data User uses Connection Data data about relationships ex connection to your friends on FB Content Datadata and response to data that are contributed by users and SM sponsors 0 Procedures informal Do what your friends do for users Sm sponsors create remove content 0 People can run the application on the provider part but for users can be irrational Behave certain was and observe consequences 0 NOT FREE someone needs to develop and maintain it which costs money 02 How do SMIS Advance Organizational Strategy Two kinds of communities that are important to commerce Defenders of belief share a common belief and form their hive around that belief They seek conformity and want to convince others of the wisdom of their belief People who believe that Google is better than Facebook want to push that belief onto you Seekers of the Truth share a common desire to learn something solve a problem or make something happen Want to nd the truth or solve a problem Social Customer Relationship Management CRM is a dynamic SMbased CRM process The relationships bw organizations and customers emerge in a dynamic process as both parties create and process content How is Social CRM different from Traditional CRM A SM CRM is lots of backforth more dynamic and has a atter balance of power both partners create content and it has risks Traditional CRM more structured and has more control over its customers Enterprise 20 application of SM to facilitate the cooperative work of people within organizations Search nd company resources with ease Links links to important or commonly used company resources Authoring create enterprise content via blogs wikis discussion groups etc Tags tag content of relevance Extensions suggest add39l content based on tags created Signals Relevant content pushed to individuals automatically QB how do SMIS increase social capital Capital the investment of resources for future pro t Human Capital the investment in human knowledge and skills for the future pro t Social Capital investment in the social relations with the expectation of returns in the marketplace What SC helps you gain 0 Information about opportunities alternatives problems 0 In uence decision makers at one s employer or in other organizations who are critical to your success 0 Social Credentials making connections with respected professionals 0 Personal Reinforcement Seeing yourself in the context of the professionals in your Social Network Value of Social Capital determined by the number of relationships in a social network by the strength of those relationships and by the resources controlled by those related Q4 What roles do SMIS play in hypersocial organization Hypersocial organization org that uses social media to form its interactions with customers employees in a relationship oriented way Consumers become humans channels become networks market segments become tribes structure and control become messy QG What are Risks for organizations in SM A company may not manage the SM very well negative feedback trolls SPAM incident w Chick l a and how that doesn39t help them sell Chicken Organizations need to know how to deal with problematic content before engaging in SM User Generated Content content on your SM site that is contributed by nonemployee users Problems with UGC Junk and Crackpot contributions Basically unrelated shit that has nothing to do with the goal of the site Inappropriate content Unfavorable reviews Mutinous movements extension of bad reviews Unwanted results from things like a certain hashtag on twitter Responding to SM problems Leaveit Respond to it 0 Delete it Chapter 7 0106 Ql What are basic types of processes Structured formay de ned standardized processes that involve daytoday ops Accepting a return placing an order purchasing raw materials Dynamic ProcessesFexibe informal and adaptive processes that involve strategic decisions and activities Usuay requires human judgment Whether to open a new store location how to solve problems with excessive returns THE WIDER THE SCOPE THE MORE DIFFICULT IT IS TO CHANGE in order of least wide to most wide Workgroup ProcessIS exists to enable workgroups to ful ll the charter purpose and goals of a particular orouo or departmentexists to support 1 or more processes wworkgroup Enterprise ProcessesIS Support activities in multiple departmentssupport one or more enterprise pro Interenterprise processesIS 2 or more independent organizationssupport one or more Inter process QZ How can IS improve process Quality Process ef ciency a measure of the ratio of process inputs to outputs Process of ful lling an order wless money and resources is an example of improving this Process Effectiveness measure of how well a process achieves organizational strategy Turning a prospective customer into an actual customer Organizations can improve the quality of a process in 3 ways 0 Change the Process AS a 3rd Option you could structure Change the process do both resources QB How do IS eliminate the problems of Info Silos Information Silo the condition that exists when data are isolated in separated information systems Problems with Info silos 1 Data integrity inconsistent or duplicated data How to solve the problem of Info silos Integrate data into a single database and revise applications and business processes 0 Allow for isolation but manage it effectively to avoid problems Q4 How do CRM ERP and EAI support Enterprise Processes Business process Reengineering activity of altering and designing business processes to take advantage of new Info systems This process is dif cult slow and expensive Customer Relationship Management CRM system suite of applications a database and a set of inherent processes for managing all the interactions with the customer from lead generation to customer service Customer Life cycle 4 phases marketing send messages to the target market to attract customer prospects customer acquisition when prospects order they become customers who need to be supported relationship management increase the value of existing customers by selling them more product and loss when the company loses a customer and try to win them back Which phase should companies attempt to increase their value of a customer relationship management Enterprise Resource Planning a suite of application called modules a database and a set of inherent processes for consolidating business ops into a single consistent computing platform Primary purpose is for integration Enterprise Application Integration EAI suite of software applications that integrates existing systems by providing layers of software that connect applications together Connects islands via new later of softwaresystem Enables existing apps to communicate and share data Provides integrated info Leverages existing systems Enables gradual move to ERP
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