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Level 34

Management Information Systems


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Digital Systems
Computers and related devices that use the binary system (two digits)
Problem
A matter or situation regarded as unwelcome or harmful and needing to be dealt with and overcome
Decision
arises when more than one solution to problem exists
Purpose of Info systems
TO HELP PEOPLE IN ORGANIZATIONS MAKE BETTER DECISIONS.
data
Business __________ theft involves stealing proprietary business INFORMATION such as research for a new drug or a list of customers that competitors are eager to acquire.
Information
Data converted into a meaningful and useful context
Process
Human activities used to create, invent, design, transform, produce, control, maintain, and use products or systems; a sequence of actions that combines resources to produce an output.
System
A collection of resources that work in a regular and coherent fashion to convert a set of inputs into a set of outputs that contribute to the achievement of some goals.
Subsystem
component of larger system
Systems thinking
A manager will essentially require __________ skills to clearly understand how the resources that his or her company uses are converted to desired outputs
database
A collection of data organized in a manner that allows access, retrieval, and use of that data.
Synergy
1+1=3 - The attainment of output, when two factors work together, that is greater or better than the sum of their products when they work separately
Computer-Based Information System
An information system that uses computer hardware and software to perform its information processing activities.
Trends in IS
Growing power/decreasing cost of computers
Input
...A collection of raw data from the outside world that is put into the computer
Transaction
a business event, usually entered as input
Transaction Processing System (TPS)
a system that records transactions and processes transactions
Data processing
performs calculations on input
Output
...The results of processed data; examples: a printed paper, a presentation, audio, video, etc.
Storage
...The place where data is held when it is not needed for processing
Telecommunications
communication technologies are used to support the four data processing functions (receive input, process data, display information, store data, transfer data)
management information system
a computer system that supports managers by providing information, reports, schedules, plans, and budgets that can be used for making decisions
Supply Chain
Consists of all parties involved, directly, or indirectly, in the procurement of a product or raw material
Supply Chain Management Systems (SCM)
systems that support the sequence of activities involved in producing and selling products or services and are linked to become one large IS providing information on any stage of a business process.
Enterprise Resource Planning Systems
systems that occur inside the walls of business and mainly serve managers in monitoring and modifying business practices; also supports the planning of shipping resources such as personnel, funds, raw materials, and vehicles.
Customer Relationship Management Systems (CRM)
systems for managing relations with customers
Business Intelligence Systems (BI)
Systems that glean relationships and trends from raw data to help organization compete better
Data Warehouse
A large data base with historical copies of data from each organisation's operational data base. They are typically static and read only - a snapshot of a database at one point in time.
Decision support system (DSS)
A computer-based system that helps decision makers confront problems through direct interaction with databases and analytical software programs
Expert system (ES)
system that supports knowledge-intensive decision making; uses artificial intelligence techniques
Geographic Information System (GIS)
a computer system capable of assembling, storing, manipulating, and displaying geographic information - data identified according to its location
Functional Business Area
SERVICES WITHIN A COMPANY THAT SUPPORT MAIN BUSINESS; includes accounting, finance, marketing, and human resources
E-Commerce
buying and selling goods and services through the Internet
Help desk technician
supports end users in their daily use of IT; often provides help via telephone
Systems Analyst
Interviews company personnel and observes current procedures looking for ways to improve the system
Database Administrator (DBA)
creates and maintains the data dictionary, manages security of the database, monitors the performance of the database, and checks backup and recovery procedures
Network administrator
acquires, implements, manages, maintains, and troubleshoots networks; implements security
System administrator
manages an organization's computer operating systems; must ensure that operating systems work together, support business requirements, and function properly
Webmaster
creates and maintains Web site
Chief security officer (CSO)
supervises security of information system; usually reports to chief information officer (CIO)
Chief information officer (CIO)
responsible for all aspects of information system; often a corporate vice president
Chief technology officer (CTO)
has similar duties as CIO
Strategy
framework, or approach, to obtaining an advantageous position
Business strategy
a plan to help an organization outperform its competitors; often done by creating new opportunities, not beating rivals
Strategic Information system (SIS)
an information system that helps seize opportunities; company-wide and crosses departments
Strategic Advantage
A position in which one dominates a market - also called competitive advantage
Competitive Advantage
A point of difference or superiority held over one's competitors
Switching costs
expenses incurred when customer stops buying from one company and starts buying from another
First mover
organization that is first to offer a new product or service; usually results in superior brand name, better technology, more experience, or critical mass
Critical mass
body of clients that is large enough to attract other clients
Product differentiation
persuading customers that your product is better than competitors'; usually achieved through advertising and customer experience
Alliance
two companies combining services; makes product more attractive; reduces costs; provides one-stop shopping
Affiliate program
linking to other companies and rewarding the linker for click-throughs
Bargaining power
leverage to influence buyers and suppliers; achieved by being major competitor or eliminating competitors; uses purchase volume as leverage over suppliers
Reengineering
ELIMINATING AND REBUILDING OPERATIONS FROM THE GROUND UP; often involves new machinery and elimination of management layers; frequently involves information technology
JetBlue
airline company that entered a formerly hurting market with great success
Late Mover
An organization that adopts a technology or method after competitors have adopted it
Bleeding edge
FAILURE OCCURRING BECAUSE OF COMPANY TRYING TO BE ON LEADING EDGE; no prior experience from which to learn; implementation costs are greater than anticipated; technology ends up losing money for company
Effectiveness
Focuses on doing the things that matter
Efficiency
A measure of how well an organisation uses resources to achieve objectives
Productivity
A measure of the functioning and efficiency of a production system and relates to the level of output obtained from a set level of inputs.
Productivity tools
software applications that improve productivity
SYSTEM THAT SERVES CUSTOMERS
Customer Relationship Management system (CRM)
Accounting information system
receives information from transaction processing systems (TPSs); automatically routes purchases to accounts payable; automatically routes sales to accounts receivable
Cost accounting systems
accumulate data about costs involved in producing specific products
Time to Market
The time between generating an idea for a product and completing a prototype that can be mass-manufactured
Brainstorming
a decision-making approach that consists of members offering ideas "off the top of their heads" fostering creativity and free thinking
Computer Aided Design (CAD)
A computer program that facilitates the creation and modification
Rapid prototyping
creating one-of-a-kind products to test design in three dimensions
Computer Aided Manufacturing (CAM)
Also referred to as Computer Numerical Control (CNC), involves the control of machinery, tools and equipment through a computer. Machines are fed programmed instructions from a central
Supply Chain Management
Is the management of the range of suppliers from which the organisation purchases materials and resources.
Material Requirements Planning (MRP)
a set of inventory-control techniques that help coordinate thousands of inventory items when the demand of one item is dependent on the demand for another
Bill of materials (BOM)
list of all raw materials and subcomponent demands to produce a product
Economic order quantity (EOQ)
optimal quantity of a raw material that minimizes overstocking and saves cost, without missing production deadlines
Manufacturing resource planning (MRP II)
combines MRP with other related activities to plan the entire manufacturing process; uses master production schedule
Master production schedule
specifies how production capactity is to be used to meet customer demands
Just in time manufacturing
suppliers ship parts directly to assemply lines as needed; avoids warehousing costs
Radio frequency identification (RFID)
a technology containing circuity that allows recording of information about a product
Electronic product code (EPC)
a code on an RIFD tag that provides more information than the universal product code (UPC); information may include date of manufacturing, plant location, expiration date, destination
Customer Relationship Management (CRM)
Customer Relationship management refers to the systems that organisations are introducing maintain customer contact. eg. Flybuys
Market research
helps discover populations and regions that are most likely to purchase product
Targeted marketing
promotes to people most likely to purchase products
Customer service
web provides automated service 24/7, includes FAQs, tracking systems, maintenance of customer profiles
Salesforce Automation
Equips traveling salespeople with information technology to improve productivity
Telemarketing
marketing over the telephone; caller has large database of consumer data
Computer telephony integration
allows computer to use telephone lines as input; caller ID can be used to locate customer data
Data Mining
__________ is the application of statistical techniques to find patterns and relationships among data for classification and prediction.
Inventory turns
the number of times the business sells its inventory per year
Enterprise Resource Planning system (ERP)
manages daily operations and facilities planning