Shared Flashcard Set

Details

IS 300
Introduction Information Systems
34
Business
Undergraduate 3
04/26/2011

Additional Business Flashcards

 


 

Cards

Term
What 3 domains does IS encompass?
Definition

Organization

Technology

Management

Term
What is the difference between data and information?
Definition

Data- stored representation of meaningful objects/events (i.e. numbers, text, images, video, POS data)

 

Information- the data is processed to increase knowledge in the person using it

 

Term
what is the Organizational dimension of IS?
Definition

-Hierarchy of authority (operational, middle, and senior management)

-Business functions (sales and marketing, human resources, finance/accounting, manu & production)

-Business Processes

 

 

Term
what is the Management dimension of IS?
Definition

-Strategy/Planning

-Controlling

-Coordinating

-Decision Making

Term
what is the Technology dimension of IS?
Definition

-Hardware and software

-Data mgmt technology

-Networking and telecommunications tech (internet)

Term
What is the difference between IS and IT?
Definition

IT= the handling of information using computers

 

IS= how firms utilitize IT to create business value

Term
what is GPT?
Definition

General Purpose Technology

 

Technologies that can drastically alter society at a global level through their impact on preexisting economic and social structures

 

(i.e. railroads, electricity, IT)

Term
What are the 4 roles of Information Systems?
Definition

1. Operational Excellence (> efficiency =  >profit)

 

2. New products, services, and business models

 

3. Customer and supplier intimacy (serving customers

better means more $, better comm w/ suppliers lowers $)

 

4. Improved decision making

Term
Transaction Processing System
Definition

-Serve operational mgmt

-perform and record routine transactions

-ex. sales order entry, payroll, shipping

Term
Management Information Systems
Definition

-Serve middle management

-provide reports based on data from TPS

-provide answers to routine questions with predefined procedure for answering them

Term
Decision Support System
Definition

-Serve middle mgmt

-Support non-routine decision making

-Ex: what is the impact of x if y were doubled?

Term
Executive Support System (ESS)
Definition

-Serves senior mgmt

-addresses non-routine decisions

-requires a lot of thought

-incorporates data about external events with info from internal MIS and DSS

Term
Enterprise System (ES)
Definition

-incorporates TPS, MIS, DSS, and ESS into 1 system

-resolves problems of fucked up or redundant data

-Enables coordination

-Stores info in one central database

Term
Supply Chain Management Systems (SCM)
Definition

-Manages firms relationship with suppliers

-Shares info about orders, production, inventory levels, delivery of products

-GOAL: right amount of products to destination with lowest time and cost

Term
Customer Relationship Management Systems (CRM)
Definition

-Gets info on customers in sales, marketing, and service to optimize revenue, customer satisfaction

-integrate the firms customer related processes

Term
Knowledge Management Systems (KMS)
Definition

-Aims to acquire, create, store, distribute, apply, and integrate all the company's knowledge

-Collect knowledge within firm and make available to all employees

Term
Value Disciplines of IS
Definition

-Operational Excellence

-Product Leadership

-Customer Intimacy

Term
Value Chain Model
Definition

-Views firms as series of activites that add value to products or services

-highlights activities where competitive strategies can best be applied

-Determine how IS can improve operational efficiency and improve customer and supplier intimacy

-Utilize benchmarking, industry best practices

Term
Porter's 5 Force Model
Definition

1. Entrants

2. Buyers

3. Suppliers

4. Substitutes

5. Competitors

Term
Resource Based View
Definition

-Resources: tangible and intangible assets of a firm

-Capabilities: subset of resources that enable a firm to take advantage of other resources

Term
4 categories of resources
Definition

-Financial

-Physical

-Human

-Organizational

Term
What is the difference between ECommerce and EBusiness?
Definition

ECommerce= the process of buying, selling, or exchanging products, services, or info via computer

 

EBusiness= broader defintion of EC, not just buying and selling but also servicing customers , collaborating with business partners, and conducting electronic transactions

Term
Types of E-Commerce Organizations
Definition

-Brick and mortar: physical products through physical stores

-Virtual (pure-play): business solely online

-Click and mortar: conduct some e-commerce some not

Term
E-Commerce Transaction Types:
Definition

B2B

B2C

C2C

Term
E-Commerce Business Models
Definition

Transaction  fees

Subscription fees

Advertising fees

Affiliate fees

Sales

Term
Web 2.0
Definition

-Social Networks

-Lets users share information in whole new ways!

Term
English Auction
Definition

auctioneer raises price higher until one bidder remains

 

Term
Ducth Auction
Definition
auctioneer starts high and goes lower till one bidder accepts
Term
First-Price Sealed Bid
Definition
Buyers submit sealed bids, highest one wins
Term
Second-Price Sealed Bid (Vickrey Auction)
Definition
The item is awarded to the highest sealed bidder but given the price of the second highest bidder
Term
Yankee Auction
Definition

Everyone bids on multiples of the same item, the top bidders of that many items paid what they bid

(think of James' iPod story)

Term
Iowa Electronic Market
Definition

An online futures market where contract payoffs are based on real world events (ie political outcomes, stock prices, etc)

 

It's essentially a nonprofit game that academia uses

Term
Hollywood Stock Exchange
Definition
-Users can buy fictional stock in actors, upcoming movies, etc
Supporting users have an ad free experience!