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X 201

by: Edward Wuckert I

X 201 BUS

Edward Wuckert I
GPA 3.89

Karen Banks

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Karen Banks
Class Notes
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This 0 page Class Notes was uploaded by Edward Wuckert I on Sunday November 1, 2015. The Class Notes belongs to BUS at Indiana University taught by Karen Banks in Fall. Since its upload, it has received 23 views. For similar materials see /class/233443/bus-indiana-university in Business at Indiana University.


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Date Created: 11/01/15
Internet Properties 123 Mediating Technology being able to connect with other users in the world Universality enlarges and shrinks the world Network Externaities more users more valuablemore useful Metcalf s law Distribution Channel digitized information eBooks versus physical books Time Moderator time is relativefew to no constraints Makes things faster and more accessible Information Asymmetry when any person has information that another does not so more people know or learn important information ex Price of a car Infinite virtual capacity perception that memorycomputer space is limitless Low Cost Standard cheaper to start business on internet rather than open store licenses etc Creative Destroyer the new pushes out the old Transaction Cost Reducer costs a lot less to have a transaction Decision Support Systems 130 Types of Models Descriptive describes the situation being addressed currently Deterministic models explicitly built with no uncertainty User input allowing to determine decision making ex How much fuel you think you ll use in 5 years Compare and chose cheapest car Optimization describes the optimal way to utilize resources to produce the best possible bottom line Simulation models uncertain future events based on past data or intelligent forecasting Spreadsheet Modeling Good for making intelligent decisions forecasting and preparing for any situation 0 Provides support Outputs 0 Revenue Cost or Profit Questionll What type of analysis would find inputs necessary to achieve a goal such as a desired level of output Sensitivity analysis whatif analysis or goalseeking DecisionMaking IT Systems Decision Making IT Systems Executive Information Systems EIS Digital Dashboard a common features Drill Down Artificial Intelligence system continues to learn from itself 0000 Data Mining Decision Support Systems DSS Transaction Processing Systems TPS Supply Chain Management 26 Project 1 Tips On part b refer to note when using subtotal functions or creating charts on the top of the worksheets Set table up for data filter using table and then start answering questions Don t be afraid to create pivot table and create chart from that No histogramsscatterplots with categorical data numerical continuous 1var datascatter 2 variable Format data analysis tool pack histogram Make things clear concise visually appealing Business process management trying to find out how to best satisfy the customer without increasing costsinefficiency too muchBPM looks at both short term return on investment and longterm value Reduce steps to create efficiency The right product at the right time going to the right people Supply Chain all the value chains of a company linked together Suppliers 9 Manufacturers 9 Warehousedistribution9 Customers Each part has specific objectives Supply Chain Management the process of monitoring the supply chain Supply Chain Strategies Pushbased pushing the productsuppier pushing what they want the customer to have Don t consider customer needs Pullbased influenced by customer demands Business Enterprise Systems 213 Question on Exam MTV has expanded their business Model by distributing info through net and letting students create programs for company lnternet property that describes relationship of interconnecting MTV to audience is what Mediating Technology CRM Customer Relationship Management lnvolves managing all aspects of a customer relationship with an organization to increase customer loyalty and retentionand an organization s profitability RFM Recency Frequency Monetary value So how recent a customer purchased products how frequently they shop and how much money they spend CRM allows organizations to 0 Operational CRM business operations list generators campaign management sales management 0 Analytical CRM accounts HR Drivers efficiency competitive advantage customer demands increase profit decrease cost Business value and time increasingreporting project 1 9 analyzing customer segmentation Categorizeswho buys what 9 Predicting ex Customer kid ages wants to buy different toys so target customer based on those toys by predicting what they want ERP Enterprise Resource Planning Integrated software system that helps manage information and business processes in all aspects of the business sales marketing production shipping customer relationssupport Same set of data out of the same database Transition takes 818 months before benefits can be seen Lots of data being collected on multiple platforms bridges the quotsilosquot of an enterprise Estimated 70000 ERP installations and 35 million users worldwide Enterprise Application Primary Users Primary Business Benefit Sales forecasts Sales strategies Marketing campaigns I Sales Marketing Customer Service Market demand Resource and capacity constraints Realtime scheduling Forecasting Planning Accounting Finance asmg 39 4 Materialmanagement Logistics Production i Inventory Distribution Integration Production 9 inventory 9 purchase 9 shipping outinvolving other companies Eiiiiiliiylas liesrllers v Cusiiiiiiuis Business Process Management integrates all ofan organization s business process to make individual processes more efficient Business Models 220 Read for lecture examll Business Model Business Model an architecture for products service and information flows Includes a description of various business actors their benefits and a description of howthe business will generate revenue ECommerce the buying and selling of goods and services over the web EBusiness the conducting of business on the web EBusiness Model an approach to conduction electronic business on the internet Examples of EBusiness Models BZB Business to business BZC Business to consumer Target Old Navy CZB Consumer to Business Pricelinethis is what I m going to pay and businesses ok CZC Consumer to consumer eBay Craigslist What type of onine auction occurs when buyers use it to purchase a product or service selecting the seller with the lowest bid 1 Electronic auction 2 Forward Auction 3 Reverse auction 4 All of the above Encyclopedia Britannica Creative Destruction Reference ppt for case study The Economics of Things vs Information Things When a thing is sold the seller no longer has it A thing has a location distribution costs may be substantial and is subject to jurisdiction laws and taxes Things wear out Things have a market value whatever someone is willing to pay for it It costs money to make replicate things Information When information is sold the seller stiII possesses it Information never wears out although its usefulness might Information has a market value if there is a way to limit its access to others copyrights patents DRM Information is costly to produce but cheap to reproduce Once the first copy has been produced most costs are sunk and cannot be recovered There are no natural limits for additional copies Stages of Transformation Technology 9 social pressure primarily college students 9 Transformation 39 Changes in business models Changes in labormarkefs Egtlt fendedperiod of uncerfainfy Transform ali on Threshold 39 Necessary bufnofsufficienf More difficulffo predicfand confrol 1 Social Forces 39 Necessary bufnof sufficienf Usually comes firsf Technology J Social ForcesDiffusion of Innovation Diffusion the process by which an innovation is communicated through certain channels over time among members of a social system Adopter Categories the classification of members of a social system on the basis of innovativeness the degree to which an individual or other unit of adoption is relatively earlier in adopting new ideas than other members of a system 0 Innovator 0 Early adopter 0 Early majority 0 Late majority o Laggard Transformation occurs when adoption leads to change in the business model


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