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Definition
| The number of transistors per square inch on an integrated chip doubles every 18 months |
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Term
| Because of Moore's Law the ratio of price to performance has |
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Definition
| Fallen from something like $4000 for a standard computing device to a fraction of a cent |
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Term
| Impact of rapid technology growth on job security |
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Definition
| Since the cost of sotring processing and communicating data is almost zero any routine skill can and will be outsourced to the lowest bidder. |
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Term
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Definition
| Ability to make and manipulate models |
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Term
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Definition
| Ability to model the components of a system, to connect the inputs and outputs among those components into a sensible whole that reflects the structure and dynamics of the phenomenon observed |
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Term
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Definition
| Activity of 2 or more people working together to achieve a common goal, result or work product. |
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Term
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Definition
| Making a reasoned analysis of an opportunity, evaluating those possibilities and developing the most promising ones, consistent with the resources you have |
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Term
| Five component framework on an information system includes |
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Definition
| Hardware, software, data, procedures and people |
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Term
| What is a critical responsibility for business professionals in using information systems? |
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Definition
| They need to take an active role in developing the system |
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Term
| Information technology (IT) |
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Definition
| Products, methods, inventions and standards that are used for the purpose of producing information. (Hardware, software and data) |
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Term
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Definition
| An assembly of hardware, software, data, procedures and people that produce information |
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Term
| What differentiates IT and IS? |
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Definition
| You can buy IT but you can't buy IS |
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Term
| What is proper password etiquette? |
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Definition
| Never write down your password or share it with others. Never ask others for their passwords and never give your password to someone else |
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Term
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Definition
Circle with faint border
Circle with thick border |
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Term
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Definition
| Rectangles with rounded corners |
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Term
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Definition
| Dashed lines in a business process model |
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Term
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Definition
| Sequence flows in a business process model |
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Term
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Definition
| Activity with a boxed plus sign inside it (Used when the work to be done is sufficiently complex as to require a process diagram of its own.) |
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Definition
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Term
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Definition
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Term
| Solid line in a business process model |
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Definition
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Term
| How are roles in a business process represented in BPM? |
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Definition
| They are represented in swimlane format in which all the acitvities for a given role (found at the tope of the column) are shown in a single vertical lane |
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Term
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Definition
| Specific tasks that need to be accomplished as part of a business process. |
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Term
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Definition
| Subset of the activities in a business process that is performed by an actor |
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Term
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Definition
| Person, group, department, organization or information system that performs roles |
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Term
| Which components of an information system are the actors? |
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Definition
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Term
| What components of an information system are the instructions? |
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Definition
| The procedures and software |
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Term
| What serves as the bridge between the left computer side of an information system and the right human side of an information system? |
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Definition
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Term
| Impacts of using IS to improve process quality |
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Definition
| IS saves buyer labor, improves process efficiency and can improve process effectiveness. |
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Term
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Definition
| Knowledge derived from data (Information is data presented in a meaningful context OR Information is data processed by summing, ordering, averaging, grouping, comparing or other similar operations.) |
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Term
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Definition
| Recorded facts or figures |
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Term
| What are characteristics of good information? |
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Definition
Accurate
Timely
Relevant (To context and subject)
Just barely sufficient
Worth its cost (Appropriate relationship must exist between the cost of data and its value) |
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Term
| What is the relationship between industry structure and competitive strategy? |
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Definition
| Based on an industry's structure they choose their competitive strategy which in turn, determines the structure of its value chain |
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Term
| What does each of the three competitive forces of the five forces model concern? |
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Definition
| The danger of a customer taking business elsewhere. Competition from vendors of substitutes, new competitors and existing rivals |
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Term
| If the cost of switching to another vendor are high then the strength of the competitive forces is |
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Definition
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Term
| If customer are loyal to the company or brand than the strength of the competitive forces is |
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Definition
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Term
| The threat of a substitute is stronger if the substitute's price is |
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Definition
| Lower and the perceived benefits of the substitute are similar |
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Term
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Definition
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Term
| The strength of the bargaining powers depends on what? |
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Definition
| The availability of substitutes and the relative size of the firm compared to the size of suppliers or customers |
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Term
| Competitive strategies: Industry Low cost |
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Definition
| Organization can choose to offer the lowest prices across an industry |
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Term
| Competitive strategies: Industry Differentation |
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Definition
| Organization can choose to add value to its products to differentiate them from those of its competition in the industry |
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Term
| Competitive strategies: Focus Cost |
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Definition
| Organization chooses to offer the lowest cost within an industry segment |
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Term
| Competitive strategies: Focus Differentiation |
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Definition
| Organization chooses to offer added value to its products within an industry segment |
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Term
| What are the strength factors that relate to all three competitive forces? |
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Definition
Substitutes
New Entrants
Rivalry |
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Term
| How does an industry respond to the structure of its industry? |
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Definition
| By choosing a competitive strategy |
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Term
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Definition
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Term
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Definition
| Network of value-creating activities |
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Term
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Definition
| Business functions that relate directly to the production of the organization's products or services. |
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Term
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Definition
| The business functions that assist and facilitate the primary activities. |
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Term
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Definition
| Receiving, storing and disseminating inputs to the product |
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Term
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Definition
| Transforming inputs into the final product |
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Term
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Definition
| Collecting, storing, and physically distributing the product to the buyers |
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Term
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Definition
| Inducing buyers to purchase the product and providing a means for them to do so |
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Term
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Definition
| Assisting customer's use of the product and thus maintaining and enhancing the product's value |
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Term
| How can organizations gain a competitive advantage? |
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Definition
| By creating new products or services, by enhancing existing products or services and by differentiating their products and services from those of their competitors |
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Term
| How to use IS to provide competitive advantage? |
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Definition
| Information systems can be part of a new product or service or it can provide support for a product or service |
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Term
| How can organizations lock in customers? |
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Definition
| By making it difficult or expensive for customers to switch to another product |
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Term
| How can organizations lock in suppliers? |
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Definition
| BY making to difficult to switch to another organization |
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Term
| Competitive advantage can be gained by creating what? |
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Definition
| Entrance barriers that make it difficult and expensive for competition to enter the market or to establish alliances with other organizations. |
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Term
| How can organizations gain competitive advantage by reducing costs? |
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Definition
| By creating better business processes |
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