Chapter 1 ; 2 Manage Enterprise Info Systems – Flashcards
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Porter's Five Forces Model
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Analyzes the competitive forces within the environment in which a company operates to assess the potential for profitability in an industry
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Efficiency MIS Metrics
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Measure the performance of MIS itself such as throughput, transaction speed, and system availability
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Threats of New Entrants
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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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Unstructured Decision
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Occurs in situations at the strategic level, in which no procedures or rules exist to guide decision makers toward the correct choice
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Rivalry Among Existing Competitors
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High when competition is fierce in a market and low when competitors are more complacent
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Effectiveness MIS Metrics
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Measure the impact MIS has on business processes and activities including customer satisfaction and customer conversion rates
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Business Process Modeling
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The activity of creating a business process model, which is a graphical depiction of a detailed flowchart or process map of a work process that shows its inputs, tasks, and activities in a structured sequence
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Chief Privacy Officer (CPO)
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Responsible for ensuring the ethical and legal use of information within a company
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Decision Support System (DSS)
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Model information using online analytical processing (OLAP), which provides assistance in evaluating and choosing among different courses of action
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Chief Security Officer (CSO)
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Responsible for ensuring the security of business systems and developing strategies and safeguards against attacks from hackers and viruses
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Threat of Substitute Products or Services
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High when there are many alternatives to a product or service and low when there are few alternatives from which to choose
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Chief Technology Officer CTO)
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Responsible for ensuring the throughput, speed, accuracy, availability, and reliability of an organization's information technology
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First-Mover Advantage
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An organization can significantly increase its market share by being first to market with a competitive advantage
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Loyalty Program
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A program to reward customers based on spending (which can also reduce buyer power)
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Workflow
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Includes the tasks, activities, and responsibilities required to execute each step in a business process
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Operational Level
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The level at which employees develop, control, and maintain core business activities required to run the day-to-day operations
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Data
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Raw facts (like order dates, amounts, or quantities) that describe the characteristics of an event or object
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Business Process Reengineering (BPR)
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Looks beyond automation and streamlining as part of the analysis and redesign of workflow within and between enterprises
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Online Analytical Processing (OLAP)
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The manipulation of information to create business intelligence in support of strategic decision-making
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Transaction Processing System (TPS)
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The basic business system that serves the operational level (analysts) and assists in making structured decisions; an example is an operational accounting system such as payroll or an order-entry system
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Buyer Power
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The ability of buyers to affect the prices they must pay for an item; it is high when buyers have many choices of whom to buy from and low when their choices are few
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Executive Information System
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A specialized DSS that supports senior-level executives and unstructured, long-term, non-routine decisions requiring judgment, evaluation, and insight at the strategic level
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System
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A collection of parts that link to achieve a common purpose
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Analytics
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The science of fact-based decision making
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Primary Value Activities
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Found at the bottom of the value chain, these include business processes that acquire raw materials and manufacture, deliver, market, sell, and provide after-sales services
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Business Process
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A standardized set of activities that accomplishes a specific task, like processing a customer's order or registering a student for classes
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Key Performance Indicators (KPI)
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The specific quantifiable metrics a company uses to evaluate progress toward critical success factors
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Product Differentiation
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An advantage that occurs when a company develops unique differences in its products with the intent to influence demand
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To-Be Process Model
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Shows the results of applying change improvement opportunities to the current as-is process model
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Supplier Power
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The suppliers' ability to influence the prices they charge for their supplies. It's high when buyers have few choices of whom to buy from and low when their choices are many.
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SWOT Analysis
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Evaluates an organization's strengths, weaknesses, opportunities and threats to identify
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As-Is Process Model
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This represents what the current state of the operation that has been mapped without any specific changes or improvements
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Chief Information Officer (CIO)
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Responsible for (1) overseeing all uses of information technology and (2) ensuring the strategic alignment of IT with business goals and objectives
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Digital Dashboard
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A common tool that supports visualization (the graphical displays of patterns and complex relationships in large amounts of date); it tracks key performance indicators and critical success factors by compiling information from multiple sources and tailoring it to meet user needs
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Competitive Advantage
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A product or service that an organization's customers place a greater value on than similar offerings from a competitor
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Granularity
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This refers to the level of detail in the model or the decision-making process. High levels of this indicates deeper levels of detail or fineness of data.
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Support Value Activity
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Found along the top of the value chain and includes business processes, such as firm infrastructure, human resource management, technology development, and procurement, that support the primary value activities
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Stakeholder
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A person or group that has an interest or concern in an organization
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Internet of Things (IoT)
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A world in which interconnected, Internet-enabled devices or things, can collect and share data without human intervention (often, machines connect directly to other machines in what is known as machine-to-machine, or M2M
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Information
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Data converted into a meaningful and useful context (like the best customer last month, the slowest-selling product, and the strongest or weakest sales rep)
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Business Intelligence
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Information collected from multiple sources such as suppliers, customers, competitors, partners, and industries that analyzes patterns, trends, and relationships for strategic decision-making
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Knowledge
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Includes the skills, experience, and expertise, coupled with information and intelligence, that create a person's intellectual resources
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Customer-Facing Process
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Also called front-office processes, it results in a product or service received by an organization's external customer; these include fulfilling orders, communicating with customers, and sending out bills and marketing information.
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Managerial Level
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The level at which employees are continuously evaluating company operations to hone the firm's abilities to identify, adapt to and leverage change
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Business Strategy
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A leadership plan that achieves a specific set of goals or objectives
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Strategic Level
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The level at which managers develop overall business strategies, goals and objectives as part of the company's strategic plan
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Typical Departments in a Company
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Accounting, Finance, Human Resources, Marketing, Operations Management, and Sales (and Management Information Systems/Information Technology!)
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Critical Success Factors (CSFs)
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Crucial steps companies perform to achieve their goals and objectives and implement their strategies
