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ITM 309: Exam 1
Exam 1 flashcards
74
Internet/New Media
10/05/2009

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Cards

Term
Define Data
Definition
Raw facts that describe the characteristics of an event (EG: date, item number, quantity)
Term
Define Information
Definition
Data converted into a meaningful and useful context (EG: best-selling item, best customer, worst-selling item)
Term
Define Efficiency
Definition
Measure the performance of the IT system itself (EG: throughput, speed, availability)
Term
Define Effectiveness
Definition
Measure the impact IT has on business processes and activities (EG: customer satisfaction, conversion rates, sell-through increases)
Term
Define Competitive Advantage
Definition
Product or service that an organization's customers place a greater value on than similar offerings from a competitor
Term
Define First-mover Advantage
Definition
Occurs when an organization can significantly impact its market share by being first to market with a competitive advantage
Term
Define Environmental Scanning
Definition
The acquisition and analysis of events and trends in the environment external to an organization
Term
What are Michael Porter's Five Forces
Definition
-Buyer power, -Supplier power, -Threat of substitutes, -Threat of new entrants, -Rivalry amount existing competitors
Term
Describe Buyer Power
Definition
High when buyers have many choices from whom to buy and low when choices are few
Term
How do businesses reduce buyer power?
Definition
Organization must make itself more attractive relative to competitors to reduce ____.
Term
Define Loyalty Programs
Definition
Reward customers based on the amount of business they do with that company
Term
Describe Supplier Power
Definition
High when buyers have few choices and low when choices are many
Term
Define Supply Chain
Definition
All parties involved, directly or indirectly, in the procurement of a product or raw material
Term
Define Business-to-Business Marketplace
Definition
Web-based service that brings together buyers and sellers
Term
Describe the Threat of Substitute Products or Services
Definition
High when there are many alternatives to a product and low when there are few alternatives
Term
Define Switching Costs
Definition
Costs that can make customers reluctant to switch to another product or service
Term
Describe the Threat of New Entrants
Definition
High when it is easy for new competitors to enter a market and low when there are significant entry barriers to entering a market
Term
Define Entry Barrier
Definition
A product or service feature that customers have come to expect in a particular industry and must
Term
Describe the Rivalry Amount Existing Competitors
Definition
High when competition is fierce in a market and low when competition is more complacent
Term
What are Porter's Three Generic Strategies
Definition
Broad cost leadership, broad differentiation, and focused strategy
Term
Describe Broad Cost Leadership
Definition
Low cost, broad market (EG: Hyundai- low cost vehicles in each model type, appealing to a large audience)
Term
Describe Broad Differentiation
Definition
High cost, broad market (EG: Audi- models available at different price points, in this case, differentiated by safety)
Term
Describe a Focused Strategy
Definition
Narrow market, cost varies (EG: Kia- focused cost leadership, only offer low cost, low end model) (EG: Hummer- focused differentiation, most focused, very niche market)
Term
Define Business Process
Definition
Standardized set of activities that accomplish a specific task
Term
Define Value Chain
Definition
Views an organization as a series of processes, each of which adds value to the product
Term
List examples of Primary Value Activities
Definition
Acquire raw materials, deliver, manufacture, market, sell
Term
List examples of Support Value Activities
Definition
Firm infrastructure, HR management, IT, procurement
Term
Ways to create value based on competitive advantages
Definition
-Target high value adding activities to further enhance their value, -Target low value adding activities to increase their value, -Perform some combo of the two
Term
What are the three levels of IT systems used in Enterprise?
Definition
-Executives: Executive Information Systems (EIS), -Managers: Decision Support Systems (DSS), -Analysts: Transaction Processing Systems (TPS)
Term
Define Transaction Information
Definition
All information contained within a single business process or unit of work, support performing of daily operational tasks (EG: purchasing stock, making airline reservations, withdrawing cash at ATM)
Term
Define Analytical Information
Definition
All organizational information, support performing of managerial analysis tasks (EG: trends, sales, statistics, future growth prediction)
Term
APPLE CASE
1) What might have happened to Apple if its top executives had not supported investment in iPods/iPhones
Definition
APPLE CASE
1) It would have fallen due to the Porter's Five Forces.

-Rivalry of Competitors: Microsoft could have introduced its Zune first, and Apple wouldn't enjoy its reputation
-Threat of New Entrants: New companies could have invented similar devices
Term
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Definition
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Term
APPLE CASE
2) Why would it be unethical for Apple to sell its iTunes customer information to other businesses
Definition
APPLE CASE
2) Because it would violate the users' trust and decrease Apple's reputation in the market
Term
APPLE CASE
3) Using Porter's Five Forces Model, analyze Apple's buyer power and seller poewr
Definition
APPLE CASE
3) -Apple's buyer power is relatively low, as the iPod is the dominant player in the portable music industry. Additionally, iTunes is the most popular music download service
-Apple's supplier power is probably pretty average, as there are a fair amount of technology suppliers, ...???
Term
APPLE CASE
4) Which of Porter's Five Forces did Apple address through its introduction of the iPod/iPhone
Definition
APPLE CASE
4) ...???
Term
What are the two drivers of firm profitability?
Definition
Industry Structure (Profitability of average competitor, Five Forces Model) & Sustainable Competitive Advantage (Profitability relative to average competitor, Value Chain Model)
Term
Systems thinking focuses on how ____ interacts with ____
Definition
____ focuses on how the thing being studied interacts with the other constituents in the system
Term
Systems thinking works by ____ to take into account larger and larger ____ as an issue is being studied
Definition
____ works by expanding its view to take into account larger and larger number of interactions as an issue is being studied
Term
Define Business Process Modeling
Definition
The activity of creating a detailed flow chart or process map of a work process
Term
Describe a Continuous Process Improvement
Definition
Attempts to understand and measure the current process, and make performance improvements accordingly
Term
Outline the steps of the Continuous Process Improvement Model
Definition
Document as-is process, establish measures, follow process, measure performance, identify and implement improvements
Term
For what two things is Process Improvement used
Definition
Eliminate unnecessary work and improve productivity
Term
Define Business Process Reengineering
Definition
Fundamental rethinking and radical redesign of business processes to achieve dramatic improvements in cost, quality, speed, and service (IE: to make all business processes best-in-class)
Term
Outline the steps of Business Process Reengineering (BPR)
Definition
Set project scope, study competition, create new processes, implement solution
Term
HARLEY-DAVIDSON CASE
1) How does Talon help Harley-Davidson employees improve their decision-making capabilities?
Definition
HARLEY-DAVIDSON CASE
1) Help share data, doesn't bypass dealer, track repeat customers and referrals
Term
What are the three levels of decisions?
Definition
Strategic (Executive), Tactical (Managers), and Operational (Analysts)
Term
Define a Transaction Processing System
Definition
The basic business system that serves the operational level (analysts) in an organization
Term
Define Online Transaction Processing (OLTP)
Definition
Capturing of transaction and event information using technology to: 1) Process information, 2) Store information, 3) Update existing information to match new information
Term
Define Online Analytical Processing (OLAP)
Definition
The manipulation of information to create business intelligence in support of strategic decision making
Term
Define Decision Support Systems (DSS)
Definition
Model information to support managers and business professionals during the decision-making process
Term
What are three quantitative models used by DSSs?
Definition
Sensitivity analysis, what-if analysis, and goal-seeking analysis
Term
Define Sensitivity Analysis
Definition
The study of the impact that changes in one or more parts of the model have on other parts of the model
Term
Define What-if Analysis
Definition
Checks the impact of a change in an assumption on the proposed solution
Term
Define Goal-Seeking Analysis
Definition
Finds the inputs necessary to achieve a goal, such as a desired level of output
Term
Define Executive Information System (EIS)
Definition
A specialized DSS that supports senior level executives within the organization
Term
What are three capabilities that EISs offer?
Definition
Consolidation, drill-down, and slice-and-dice
Term
Define Consolidation
Definition
Aggregation of information and features simple roll-ups to complex groups of interrelated information
Term
Define Drill-Down
Definition
Enables users to get details, and details, and details, etc...of information
Term
Define Slice-and-Dice
Definition
Looks at information from different perspectives
Term
Define Disruptive Technology
Definition
A new way of doing things that initially does not meet the needs of existing customers
Term
Define Sustaining Technology
Definition
Produces an improved product customers are eager to buy
Term
Define eBusiness
Definition
The use of the Internet nad other networks and ITs to support ecommerce
Term
What are the four tools for accessing Internet information?
Definition
Intranet, extranet, portal, and kiosk
Term
Define Intranet
Definition
Internalized portion of the Internet, protected from outside access, for employees
Term
Define Extranet
Definition
An intranet that is available to strategic allies
Term
What are the three common forms of service providers?
Definition
Internet service provider, online service provider, application service provider
Term
Define Internet Service Provider (ISP)
Definition
Provides individuals and other companies access to the Internet
Term
Define Online Service Provider (OSP)
Definition
Offers an extensive array of unique Web services
Term
Define Application Service Provider (ASP)
Definition
Offers access over the Internet to systems and related services that would otherwise have to be located in organizational computers
Term
Define Portal
Definition
Web site that offers a broad array of resources and services
Term
Define Kiosk
Definition
Publicly accessible computer system that allows interactive information browsing
Term
What are the five parts of a system?
Definition
Input, process, output, feedback, control
Term
Define Business Process Improvement
Definition
Attempts to understand and measure the current process and make performance improvements accordingly