MIS 2020 Notes Week 1
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This 6 page Class Notes was uploaded by Jenna Worden on Tuesday January 19, 2016. The Class Notes belongs to MIS 2020 at a university taught by Levallet in Winter 2016. Since its upload, it has received 20 views.
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Date Created: 01/19/16
Unit 0 1. What is MIS? 2. What are the components of Information Systems? 3. How is IS different that IT? 4. What is the SDLC? And how is it used? 5. As a business professional why do you need to understand MIS? IS Triangle- people, process and information technology Functional Knowledge- what information technology can do for businesses Program- build IS- design information technology IT- builds the system SDLC- system development lifecycle Business process is a predefined way in which an organization performs its -functions. Produce information (e.g., reports) that are then used by employees to perform other business processes Information system is a set interrelated business components that create, collect, process, store, distribute and produce information. Components: 1) Business processes that determine how we do business, 2) Information technologies (IT) (hardware and software) that support and enable business processes, and of course 3) People that use and manage these systems The Information Systems Architecture: 1. Enterprise systems (ES)- the core transaction systems, a. ERP Enterprise Resource Planning System 2. Business intelligence systems (BI) - utilize consolidated transaction and other business data to support decision-making. a. Data Mining 3. Collaboration systems (CS).- facilitating sharing of information, ideas and knowledge SDLC: 1. Planning- project team prioritizes the project, prepares a budget, and determines the schedule 2. Analysis- current or “As Is” situation then develop requirements of how the business should operate in the improved or “To Be” system. 3. Design- blueprints for the development phase (next phase) are drawn up 4. Development- the IT (software application) is actually built or programmed 5. Implementation Unit 1 Strategies: designed to position companies to achieve, strengthen and protect their competitive advantage. Information systems contribute to business strategy and competitive advantage by: Identify new markets and products, Shorten new product development cycles, Drastically cut costs through decreasing inventory levels and shortening manufacturing and order lead times, Share ideas across the globe, Preserve what is learned in the process so that it can be used in the future. Business: is an organized effort to convert resources into a product or service for customers with a goal of making profit Business process: is a systematic way of organizing resources and effort to ensure the appropriate flow of information and materials and produce a product or service Most essential is understanding the business goals Strategy: is the means (game plan or blue print) by which the business achieves its goals. Competitive advantage: product or service which customers value more highly than similar offerings from the business’ competitors Example: A business can essentially offer lower pricing because it uses inventory management information systems that cut costs of raw materials. First-mover advantage: occurs when an organization can significantly impact its market share by being first to market with a competitive advantage Example: Microsoft maintained this dominance in the operating systems market because it is difficult to switch operating systems. Strategic planning: is a systematic process by which the company sets its goals based on internal and external analyses of its industry and resources, draws up its plans to achieve these goals, and then implements these plans. Environmental scanning: is a process of acquiring and analyzing events and trends, industry and related markets within which the business operates and competes. Internal analysis: identifying the strengths and weaknesses of its resources and processes. External analysis is done through a study of the industry and market environment. Porter’s Five Forces model: assesses the competitive nature of an industry. 1. The bargaining power of buyers (customers) CRM Buyers (or customers) are individuals or organizations who make up the demand in an industry. Buyer power is high when buyers have many choices of whom to buy from and low when their choices are limited. 2. The bargaining power of suppliers SCM Suppliers are businesses that supply materials, products or services for an industry. Supplier power – high when buyers have few choices of whom to buy from and low when their choices are many. 3. The threat of new entrants (competitors) An industry is attractive to potential entrants if the barriers to entry for new competitors are low. Threat of new entrants is high when it is easy for new competitors to enter a market and low when there are significant entry barriers to entering a market. Barriers: Capital investment required (e.g., expensive information systems) Customer switching costs Access to industry distribution channels The power of existing competitors 4. The threat of substitute products or services Threat of substitute products or services is high when there are many alternatives to a product or service and low when there are few alternatives from which to choose. 5. The level of rivalry among competitors ERP Factors that influence this rivalry include: Structure of competition-‐‐ competition is intense when there are a number of equal size Competitors versus when there is a clear industry leader. Degree of differentiation-‐‐ industries where there is less differentiation between Competing products and services have greater rivalry versus industries where there is More differentiation. Switching costs-‐‐ there is less rivalry when buyers have higher switching costs, Strategic objectives-‐‐ when businesses are pursuing aggressive growth strategies in Newer industries, rivalry is intense. Competition is usually less intense in mature Markets where competitors are enjoying continuing profits. Exit barriers-‐‐ when the costs of closing a business are high due to the high level of initial Investments (e.g., manufacturing), rivalry is also high. Rivalry among existing competitors is high when competition is fierce in a market and low when competition is more complacent Value chain- chain of basic activities that add value to a product or service Primary processes (processes that make, deliver, market and sell, and service an organization’s products or services) Support processes (processes such as management, accounting, finance, legal, human resources, research and development, and purchasing).
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