Term
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Definition
| Raw facts that describe the characteristics of an event (EG: date, item number, quantity) |
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Term
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Definition
| Data converted into a meaningful and useful context (EG: best-selling item, best customer, worst-selling item) |
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Term
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Definition
| Measure the performance of the IT system itself (EG: throughput, speed, availability) |
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Term
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Definition
| Measure the impact IT has on business processes and activities (EG: customer satisfaction, conversion rates, sell-through increases) |
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Term
| Define Competitive Advantage |
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Definition
| Product or service that an organization's customers place a greater value on than similar offerings from a competitor |
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Term
| Define First-mover Advantage |
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Definition
| Occurs when an organization can significantly impact its market share by being first to market with a competitive advantage |
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Term
| Define Environmental Scanning |
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Definition
| The acquisition and analysis of events and trends in the environment external to an organization |
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Term
| What are Michael Porter's Five Forces |
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Definition
| -Buyer power, -Supplier power, -Threat of substitutes, -Threat of new entrants, -Rivalry amount existing competitors |
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Term
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Definition
| High when buyers have many choices from whom to buy and low when choices are few |
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Term
| How do businesses reduce buyer power? |
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Definition
| Organization must make itself more attractive relative to competitors to reduce ____. |
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Term
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Definition
| Reward customers based on the amount of business they do with that company |
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Term
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Definition
| High when buyers have few choices and low when choices are many |
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Term
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Definition
| All parties involved, directly or indirectly, in the procurement of a product or raw material |
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Term
| Define Business-to-Business Marketplace |
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Definition
| Web-based service that brings together buyers and sellers |
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Term
| Describe the Threat of Substitute Products or Services |
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Definition
| High when there are many alternatives to a product and low when there are few alternatives |
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Term
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Definition
| Costs that can make customers reluctant to switch to another product or service |
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Term
| Describe the Threat of New Entrants |
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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 |
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Term
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Definition
| A product or service feature that customers have come to expect in a particular industry and must |
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Term
| Describe the Rivalry Amount Existing Competitors |
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Definition
| High when competition is fierce in a market and low when competition is more complacent |
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Term
| What are Porter's Three Generic Strategies |
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Definition
| Broad cost leadership, broad differentiation, and focused strategy |
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Term
| Describe Broad Cost Leadership |
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Definition
| Low cost, broad market (EG: Hyundai- low cost vehicles in each model type, appealing to a large audience) |
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Term
| Describe Broad Differentiation |
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Definition
| High cost, broad market (EG: Audi- models available at different price points, in this case, differentiated by safety) |
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Term
| Describe a Focused Strategy |
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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) |
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Term
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Definition
| Standardized set of activities that accomplish a specific task |
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Term
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Definition
| Views an organization as a series of processes, each of which adds value to the product |
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Term
| List examples of Primary Value Activities |
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Definition
| Acquire raw materials, deliver, manufacture, market, sell |
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Term
| List examples of Support Value Activities |
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Definition
| Firm infrastructure, HR management, IT, procurement |
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Term
| Ways to create value based on competitive advantages |
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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 |
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Term
| What are the three levels of IT systems used in Enterprise? |
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Definition
| -Executives: Executive Information Systems (EIS), -Managers: Decision Support Systems (DSS), -Analysts: Transaction Processing Systems (TPS) |
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Term
| Define Transaction Information |
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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) |
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Term
| Define Analytical Information |
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Definition
| All organizational information, support performing of managerial analysis tasks (EG: trends, sales, statistics, future growth prediction) |
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Term
APPLE CASE
1) What might have happened to Apple if its top executives had not supported investment in iPods/iPhones |
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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 |
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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 |
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Definition
APPLE CASE
2) Because it would violate the users' trust and decrease Apple's reputation in the market |
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Term
APPLE CASE
3) Using Porter's Five Forces Model, analyze Apple's buyer power and seller poewr |
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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, ...??? |
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Term
APPLE CASE
4) Which of Porter's Five Forces did Apple address through its introduction of the iPod/iPhone |
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Definition
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Term
| What are the two drivers of firm profitability? |
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Definition
| Industry Structure (Profitability of average competitor, Five Forces Model) & Sustainable Competitive Advantage (Profitability relative to average competitor, Value Chain Model) |
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Term
| Systems thinking focuses on how ____ interacts with ____ |
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Definition
| ____ focuses on how the thing being studied interacts with the other constituents in the system |
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Term
| Systems thinking works by ____ to take into account larger and larger ____ as an issue is being studied |
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Definition
| ____ works by expanding its view to take into account larger and larger number of interactions as an issue is being studied |
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Term
| Define Business Process Modeling |
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Definition
| The activity of creating a detailed flow chart or process map of a work process |
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Term
| Describe a Continuous Process Improvement |
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Definition
| Attempts to understand and measure the current process, and make performance improvements accordingly |
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Term
| Outline the steps of the Continuous Process Improvement Model |
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Definition
| Document as-is process, establish measures, follow process, measure performance, identify and implement improvements |
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Term
| For what two things is Process Improvement used |
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Definition
| Eliminate unnecessary work and improve productivity |
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Term
| Define Business Process Reengineering |
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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) |
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Term
| Outline the steps of Business Process Reengineering (BPR) |
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Definition
| Set project scope, study competition, create new processes, implement solution |
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Term
HARLEY-DAVIDSON CASE
1) How does Talon help Harley-Davidson employees improve their decision-making capabilities? |
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Definition
HARLEY-DAVIDSON CASE
1) Help share data, doesn't bypass dealer, track repeat customers and referrals |
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Term
| What are the three levels of decisions? |
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Definition
| Strategic (Executive), Tactical (Managers), and Operational (Analysts) |
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Term
| Define a Transaction Processing System |
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Definition
| The basic business system that serves the operational level (analysts) in an organization |
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Term
| Define Online Transaction Processing (OLTP) |
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Definition
| Capturing of transaction and event information using technology to: 1) Process information, 2) Store information, 3) Update existing information to match new information |
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Term
| Define Online Analytical Processing (OLAP) |
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Definition
| The manipulation of information to create business intelligence in support of strategic decision making |
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Term
| Define Decision Support Systems (DSS) |
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Definition
| Model information to support managers and business professionals during the decision-making process |
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Term
| What are three quantitative models used by DSSs? |
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Definition
| Sensitivity analysis, what-if analysis, and goal-seeking analysis |
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Term
| Define Sensitivity Analysis |
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Definition
| The study of the impact that changes in one or more parts of the model have on other parts of the model |
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Term
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Definition
| Checks the impact of a change in an assumption on the proposed solution |
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Term
| Define Goal-Seeking Analysis |
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Definition
| Finds the inputs necessary to achieve a goal, such as a desired level of output |
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Term
| Define Executive Information System (EIS) |
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Definition
| A specialized DSS that supports senior level executives within the organization |
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Term
| What are three capabilities that EISs offer? |
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Definition
| Consolidation, drill-down, and slice-and-dice |
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Term
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Definition
| Aggregation of information and features simple roll-ups to complex groups of interrelated information |
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Term
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Definition
| Enables users to get details, and details, and details, etc...of information |
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Term
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Definition
| Looks at information from different perspectives |
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Term
| Define Disruptive Technology |
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Definition
| A new way of doing things that initially does not meet the needs of existing customers |
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Term
| Define Sustaining Technology |
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Definition
| Produces an improved product customers are eager to buy |
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Term
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Definition
| The use of the Internet nad other networks and ITs to support ecommerce |
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Term
| What are the four tools for accessing Internet information? |
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Definition
| Intranet, extranet, portal, and kiosk |
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Term
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Definition
| Internalized portion of the Internet, protected from outside access, for employees |
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Term
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Definition
| An intranet that is available to strategic allies |
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Term
| What are the three common forms of service providers? |
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Definition
| Internet service provider, online service provider, application service provider |
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Term
| Define Internet Service Provider (ISP) |
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Definition
| Provides individuals and other companies access to the Internet |
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Term
| Define Online Service Provider (OSP) |
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Definition
| Offers an extensive array of unique Web services |
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Term
| Define Application Service Provider (ASP) |
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Definition
| Offers access over the Internet to systems and related services that would otherwise have to be located in organizational computers |
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Term
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Definition
| Web site that offers a broad array of resources and services |
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Term
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Definition
| Publicly accessible computer system that allows interactive information browsing |
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Term
| What are the five parts of a system? |
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Definition
| Input, process, output, feedback, control |
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Term
| Define Business Process Improvement |
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Definition
| Attempts to understand and measure the current process and make performance improvements accordingly |
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