Notes for Week of 8/31
Notes for Week of 8/31 MIST 2090
Popular in Introduction to Information Systems
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This 4 page Class Notes was uploaded by Jordan Jarrett on Tuesday September 8, 2015. The Class Notes belongs to MIST 2090 at University of Georgia taught by Janine E. Aronson and Nikhil Srinivasan in Fall 2015. Since its upload, it has received 65 views. For similar materials see Introduction to Information Systems in Business, management at University of Georgia.
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Date Created: 09/08/15
9115 The quotsystem development cyclequot SDLC 1 Analyze current situation 2 Set up goalsvision a Must accomplish smaller goals before you achieve your big one 3 Design more than one 4 Development develop out the product Customer segments 0 The rst thing that matters is the customer who is it that you39re trying to sell something to 0 Mass market having the intention of selling to everyone isn39t always the best approach Niche identify a speci c set of people to sell something to Segmenting the population creating groups o If an organization pays you 60K they want 200K plus worth of work to make up for the cost of hiring you as an employee Value proposition 0 After you have identi ed your customer segment what are you going to offer them 0 Identify what value you re providing your customer segment 0 Technology isn t a good value proposition 0 Value proposition of eHarmony is that you will nd love 0 Price can be a value proposition ChanneB How do you deliver the value proposition to the customer 0 Channel the different way the product or the service value proposition is delivered to you 0 Car companies deliver their products through dealerships Customer relationships 0 How does a business connect with the consumer 0 Being directed to help desk or online support communities 0 Top of mind awareness businesses want for you to recognize their brand they want you to instinctively connect with their product they want it to be on the top of your mind 0 This is accomplished by establishing relationships with customer Revenue streams Revenue streams the ways the money comes in 0 Asset sale a company sells you something that they have and you pay money for it Dropbox doesn t t sell you hard disk space but a service Key resources Key resources things within organization that allow them to make value proposition Capital nancial money human labor intellectual organization knows how to do something Key activities Key activities things an organization does to change key resources that allow an organization to make value proposition Practice Key pa rtners Key partners supporting institutions who partner with organizations to deliver value proposition WalMart s key partners are their suppliers its up to them to make sure every WaIMart is stocked If WaIMart doesn t t have toilet paper we cant buy toilet paper Sometimes other organizations might know something that you don t know Cost structure Cost structure what are the costs that an organization has to incur to deliver the value proposition Fixed costs employees wages If you get paid 60000 a year it costs the company 180000 a year Companies have to pay employment taxes social security HR person desk of ce space You need to be willing to do 200K plus worth of work even if you only get paid 60K so the company can make up for the cost of hiring you as an employee 9315 Answers to quiz from 9115 1 2 3 lm Which of the following is not one of the 5 areas of technology based transformation of ce automation Attackers advantage refers to the ability of newcomers to take advantage of new technologies to be pro table Smart creative person is one that combines business expertise technical knowledge creativity Creative destruction refers to the rise of innovation with the demise of the old way of doing things Which of the following isn t true of a lean start up favors elaborate planning over experimentation BYOD stands for bring your own device Which of these is not a disadvantage of cloud computing to an organization the organization focuses on its core competency a This is actually an advantage 8 According to KPMG the digital era was based on the introduction of what disruptive technology the internet 9 The C in SMAC stands for cloud computing 10 The lnnosight reading recommends which strategy for big companies innovating in the context of creative destruction create operate and trade System development cycle 0 After guring out the detaillevel elements you start designing a system 0 Technology isn t the only thing that s key to an info system it needs to work with the right people processes and info in order to succeed Business modeling the canvas 0 Business model canvas is one way to do things but not the only one 0 Right side customer facing relationships 0 Left side organizational end 0 When lling in use as few words as possible 0 Use pictures when you can 0 Color coding allows you to associate speci c value propositions with speci c customer segments 0 Can also be used to identify where money is coming from Common business models 0 Industrial manufacturing large companies that make a lot of stuff 0 Product development designing products apple 0 Retail instore and magazine WalMart 0 Can be segmented Credit union value chain 0 They don t have inbound production but they bent the model enough in order to make it apply to them The digital revolution complicated business models 0 Traditional business models don t work as well anymore bc of technology Bait and hook trying to sell you something Freemium gives you something for free but then you have to pay to upgrade 2 sided market Have to convince people to subscribe to credit cards and then they have to convince companies to accept cards