K201 Lecture: Excel portion – Flashcards
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True or False? Information Systems exist to help organizations achieve their strategies.
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True
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Competitive Strategy
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Determines the structure, features, and functions of an information system used in a company. Also determines an organizations goals and objectives
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Used to assess industry structure
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Porter's Five Forces Model
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What does the intensity of each of the forces in Porter's Five Forces Model determine?
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It determines the characteristics of the industry, how profitable it is and how sustainable that profitability will be.
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True or false? A business that selects a differentiation strategy would invariably structure itself around low-cost activities
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False
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True or False? A business with a differentiation strategy will add cost to an activity only as long as the activity has a positive margin.
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True
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Margin
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The difference between the value that an activity generates and the cost of the activity.
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Inbound Logistics
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The activity that involves receiving and handling of raw materials and other inputs to the product.
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Outbound Logistics
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The activity that involves collecting, storing, and physically distributing the product to buyers.
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Linkages
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Ex: a service company checking the availability of resources before planning its projects
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Business Process
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A network of activities that generate value by transforming inputs into outputs
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True or False? Most business process designs require people to work in new ways.
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True
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High Switching Costs
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The process of locking in customers by making it difficult or expensive for customers to move to another product
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Purchasing raw materials is an example of what type of process?
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A structured process
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Structured Processes
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formally defined, standardized processes that involve day to day operations (Ex: accepting a return, placing an order, purchasing raw materials)
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Dynamic Processes
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flexible and informal and adapt as you go along, more strategic activities and often require a human judgement Ex: Nike using Facebook and Twitter to generate buzz about its new line of running shoes, whether to open up a new store location or not)
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Enterprise Processes
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Span an organization and support activities in multiple departments
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Process Efficiency
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A measure of the ratio of process outputs and inputs
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Information Silo
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Exists when data are isolated in separated information systems
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Customer Relationship and Management System
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A suite of applications, a database, and a set of inherent processes for managing all the interactions with the customer, from lead generation to customer service
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Marketing
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A phase of the customer life cycle that focuses on sending messages to the target market to attract customer prospects
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Enterprise Application Integration
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Connects system "islands" via a new layer of software
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Application Provider Examples
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Facebook, Twitter, LinkedIn, and Google are all social media (SM) application providers
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Content Data
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Data and responses to data that are contributed to social media sites by users and social media sponsors
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Social CRM
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Customer Relationship Management: uncontrolled but structured process
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Crowdsourcing
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The dynamic social media process of employing users to participate in product design or product redesign
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Social Capital
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The investment in social relations with the expectation of returns in the marketplace
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The Value of Social Capital
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(# of relationships)(relationship strength)(entity resources)
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Freemium
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The revenue model that offers users a basic service for free, and then charges a premium for upgrades or advanced features.
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What do most social media companies rely on for revenue?
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Advertising
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Enterprise 2.0
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The application of social media to facilitate the cooperative work of people inside organizations
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Five Forces in Porter's Five Forces Model
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Industry Structure--Competitive Strategy--Value Chains--Business Processes--Information Systems
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Which Five Forces Determine Industry Structure?
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Bargaining Power of Customers--Threat of Substitutions--Bargaining Power of Suppliers--Threat of New Entrants--Rivalry
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Bargaining Power of Customers: Strong example and Weak example
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Strong: Toyota's purchase of auto paint Weak: Your power over the procedures and policies at your university
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Threat of Substitutions: Strong example and Weak example
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Strong: Frequent traveler's choice of auto rental Weak: Patients using the only drug effective for their type of cancer
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Bargaining Power of Suppliers: Strong example and Weak example
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Strong: New car dealers Weak: Grain farmers in a surplus year
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Threat of New Entrants: Strong example and Weak example
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Strong: A Corner Latte stand Weak: A professional football team
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Rivalry: Strong example and Weak example
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Strong: Used car dealers Weak: Google or Bing
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True or False? According to Porter, in order to be effective the organization's goals, objectives, culture, and activities must be consistent with the organizations strategy.
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True
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Value
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The amount of money that the customer is willing to pay for a resource, product, or service
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Value Chain
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A network of value-creating activities, a generic chain consists of five primary activities and four support activities
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Primary Activities
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Activities that contribute directly to the production, sale, or service of a product. In Porter's model they are inbound logistics, operations and manufacturing, outbound logistics, sales and marketing, and customer service.
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Support Activities
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In Porter's value chain model the activities that contribute indirectly to value creation: procurement, technology, human resources, and the firm's infrastructure.
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Operations/Manufacturing
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Transforming inputs into the final products
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Sales and Marketing
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Inducing buyers to purchase the products and providing a means for them to do so
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Customer Service
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Assisting customers' use of the products and thus maintaining and enhancing the product's value
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Activity
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A business function that receives inputs and produces outputs
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Repository
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a collection of something
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How do organizations gain a competitive advantage?
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By creating new products/services, by enhancing existing products or services, and by differentiating their products and services from those of their competitors.
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Locking in Customers
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Making it difficult or expensive for customers to switch to another product.
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Locking in Suppliers
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Making it difficult or to switch to another organization or by making it easy to connect to and work with the organization
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Creating Entry Barriers
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Makes it difficult and expensive for new competition to enter the market.
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Establishing Alliances
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Such alliances establish standards, promote product awareness and needs, develop market size, reduce purchasing costs, and provide other benefits.
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Workgroup Process
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Exists to enable workgroups to fulfill the charter, purpose, and goals of a particular group or department.
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Workgroup Information System
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Exists to support one or more processes within the workgroup. (AKA Functional Information Systems)
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Functional Application
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The program component of a functional information system
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Inter-Enterprise Process
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Span two or more independent organizations (More difficult to change)
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Enterprise Information Systems
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Support one or more enterprise processes
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Inter-Enterprise Information Systems
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Support one or more inter-enterprise processes
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How can information systems improve process quality?
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By performing an activity, augmenting a human who is performing an activity, and by controlling data quality and process flow
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How can processes be improved
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By changing the process structure, resources, or both
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Data Integrity
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When an organization has inconsistent duplicated data
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Business Process Reengineering
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The activity of altering existing and designing new business processes to take advantage of new information systems
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Inherent Processes
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Predesigned procedures for using the software products, saved organizations from the expense, delays, and risks of business process reengineering
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Four Stages of the Customer Life Cycle
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Marketing, customer acquisition, relationship management, and loss/churn.
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Enterprise Resource Planning
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(ERP) a suite of applications called modules, a database, and a set of inherent processes for consolidating business operations into a single, consistent, computing platform.
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Enterprise Application Integration
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(EAI) a suite of software applications that integrates existing systems by providing layers of software that connect applications together.
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What does EAI do?
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Connects system "Islands" via a new layer of software/system Enables existing applications to communicate and share data Provides integrated information Leverages existing systems Enables a gradual move to ERP
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Stored Procedure
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A computer program that is stored in the database that is used to enforce business rules
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consists of the processes of finding vendors, setting up contractual agreements, and negotiating prices?
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Procurement
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Value chain linkage
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A manufacturing system that reduces inventory costs
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how to solve the problem of information silos
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integrate data into a single database and revise applications and business processes, also, allow for isolation but manage it effectively to avoid problems
