Term
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Definition
| Information technology (IT) – a field concerned with the use of technology in managing and processing information |
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Term
| MIS Management information systems |
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Definition
-Management information systems (MIS) – a general name for the business function and academic discipline covering the application of people, technologies, and procedures – collectively called information systems – to solve business problems
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Definition
| raw facts that describe the characteristic of an event |
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Definition
| data converted into a meaningful and useful context |
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Definition
O– applications and technologies that are used to gather, provide access to, and analyze data and information to support decision-making efforts
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Definition
OA product or service that an organization’s customers place a greater value on than similar offerings from a competitor
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| Porter’s Five Forces Model |
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Definition
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Buyer
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Supplier
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Threat of Substitute Products or Services
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Threat of New Entrants
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Rivalry
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Term
| What are the three generic strategies and how would you apply this to a specific industry |
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Definition
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Term
| What are the Primary Value Activities |
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Definition
OPrimary value activities
OInbound logistics - Acquires raw materials and resources, and distributes
OOperations - Transforms raw materials or inputs into goods and services
OOutboundlogistics - Distributes goods and services to customers
OMarketing and sales - Promotes, prices, and sells products to customers
OService - Provides customer support
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| What are the Support Value Activities |
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Definition
OSupport value activities
OFirm infrastructure – Includes the company format or departmental structures, environment, and systems
OHuman resource management – Provides employee training, hiring, and compensation
OTechnology development – Applies MIS to processes to add value
OProcurement – Purchases inputs such as raw materials, resources, equipment, and supplies
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Definition
Oinvolves the management of information flows between and among stages in a supply chain to maximize total supply chain effectiveness and profitability
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Definition
Oinvolves managing all aspects of a customer’s relationship with an organization to increase customer loyalty and retention and an organization's profitability
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Definition
Othe analysis and redesign of workflow within and between enterprises
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Term
What is ERP? How does it apply to an organization?
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Definition
OEnterprise resource planning (ERP) – integrates all departments and functions throughout an organization into a single IT system so that employees can make decisions by viewing enterprisewide information on all business operations
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