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MBUS 302 Chapter 1 notes

by: Aimee Castillon

MBUS 302 Chapter 1 notes MBUS 302

Aimee Castillon
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About this Document

Lecture notes for Chapter 1
Managing information in a global environment
Class Notes
businessminor, information, gmu, #Chapter1, week 1




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This 6 page Class Notes was uploaded by Aimee Castillon on Thursday September 15, 2016. The Class Notes belongs to MBUS 302 at George Mason University taught by Majumdar in Summer 2016. Since its upload, it has received 13 views. For similar materials see Managing information in a global environment in Minor In Business at George Mason University.


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Date Created: 09/15/16
        George Mason University        Aimee Castillon  Managing Information Systems  MBUS 302  • Fall 2016     Heading: 8/30/16  Notes: Chapter 1    1.1­ Business Driven MIS  What you have learned  ­ Competing in the information age  from video  ­ Examples  What you think about it  ­ Amazon­ not a technology company; primary business focus    is selling books    ­ Netflix­ not a technology company; primary business focus is    renting videos    ­ Zappos­ not a technology company; primary business focus    is selling shoes    ­ Core drivers of the information age    ­ Data​­ ​ raw facts describing the characteristics of an event or  What’s the difference  an object  between data and  ­ Information­ ​ ​ ata converted into a meaningful and useful  information?  context    ­ Business intelligence  ​ (i.e. tailoring users’ recent searches    to give them recommendations)­ i​ nformation collected from    multiple sources such as suppliers, customers, competitors,    partners, and industries that analyzes patterns, trends, and    relationships for strategic decision making    ­ Knowledge­ ​  skills, experience, and expertise coupled with    information and intelligence that creates a person’s    intellectual resources    ­ Knowledge worker­  ​ individual valued for their ability    to interpret and analyze information    ­ The Challenge: Departmental Companies                                                5 forces is heavily used with  SWOT      ­     ­ The solution: management information system                            ­       Directly impacts company  ­   ­   ­ 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  ­ Managing information systems (MIS)­ ​  business function, like  accounting and HR, which moves info about ppl, products, and  processes across the company to facilitate decision­making and  problem­solving  ­ MIS department roles and responsibilities  ­ Chief information officer (CIO)­ oversees all uses of IT and ensures  that 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  1.2­ Business Strategy  ­ Identifying competitive advantages  ­ Business strategy­ ​  leadership plans that achieve a specific set of  goals or objectives  ­ Develop new products or services  ­ Entering new markets  ­ Increasing customer loyalty  ­ Attracting new customers  ­ Increasing sales  ­ Competitive advantage­ p ​ roduct or service that an organization’s  customers place a greater value on than similar offerings from a  competitor  ­ First­mover advantage­ o ​ ccurs when an organization can  significantly impact its market share by being the first to market with  a competitive advantage (i.e. Apple’s iPhone → launch of  smartphones)  ­ Competitive intelligence­ p ​ rocess of gathering information about the  competitive environment to improve the company’s ability to succeed  ­ Tools include:  ­ The Five Forces Model­ evaluating industry attractiveness  ­   ­ Buyer power­ ​  ability of buyers to affect the price of an  item  ­ Switching cost​­ manipulating costs that make  customers reluctant to switch to another  product  ­ Loyalty program​­ reward customers based on  the amount of business they do with a  particular organization  ­ Supplier power­​ supplier’s ability to influence the  prices they charge for supplies  ­ Supply chain­ ​  consists of all parties involved  in the procurement of a product or raw material  ­ 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  ­ Threat of new entrants is high when it’s easy for new  competitors to enter a market and low when there are  significant entry barriers (i.e. airline industry)  ­ Entry barrier​­ feature of a product or service  that customers have come to expect and  entering competitors must offer the same for  survival  ­ Rivalry among existing competitors  ​ is high when  competition is fierce in a market and low when  competitors are more complacent  ­ Product differentiation​ occurs when a  company develops unique differences in its  products or services with the intent to influence  demand (i.e. Amazon Prime)  ­ The Three Generic Strategies­ Choosing a Business Focus  ­   ­ Value Chain Analysis­ Executing Business Strategies  ­ Business process­ ​  a standardized set of activities  that accomplish a specific task, such as a specific  process  ­ Value chain analysis  ​ views a firm as a series of  business processes that each add value to the  product or service  ­ Primary value activities  ­ Inbound logistics­ acquires raw  materials and resources, and  distributes  ­ Operations­ transforms raw materials  or inputs into goods and services  ­ Outbound logistics­ distributes goods  and services to customers  ­ Marketing and sales­ promotes, prices,  and sells products to customers  ­ Service­ provides customer support  ­ support value activities  ­ Firm infrastructure­ includes the  company format or departmental  structures, environment, and systems  ­ HR management­ provides employee  training, hiring, and compensation  ­ Technology development­ applies MIS  to processes to add value  ­ Procurement­ purchases inputs such  as raw materials, resources,  equipment, and supplies  ­   ­   The World is Flat notes  World economy is being leveled  The World Is Flat  ­ While you were sleeping  ­ Three stages globalization  ­ 1­ imperialism  ­ 2 (1800s­early 2000s) ­ companies  ­ 3­ individuals and small groups globalizing  Five Forces video  ­ “Internet is a force” 


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