MGMT 345 1st EditionExam # 1 Study Guide Lectures: 1 - 10Lecture 1 (1/20/15)I. Weekly Homework:In a typical week there will be 4 items to be turned in.Tuesdays- Chapter Quizzes are due by 5pm on MyMISLabWednesdays- Lab Assignments are due by 5pm to the D2L dropboxThursdays- Chapter DLMs close at 3pm, and Lab Quizzes are due when class startsII. Exam Dates:2/26/15: Exam 1 covers chapters 1, 2, 3, and 11 & Excel 1-54/09/15: Exam 2 covers chapters 4-7 & Access 1-45/14/15: Final Exam at 2:45pm, covers chapters 8-10 & SAP 1-4III. Extra Info:- Mr. Guggenheim will be in the Computer Lab in Rehn 17 every Wednesday from 12pm-5pm to help with Lab assignments. - A study guide will be given out before every exam. It consists of 120 questions of which 40 are on the actual exam. 10 questions on the exam will come from lab quizzes and 2 bonus questions will come from in class material. - When signing up for MyMISLab use your SIU ID minus the SIU. Ex: 85…- A calendar can be found on D2L under “overview” containing all course dates. Lecture 2 (1/22/15)Managing in the Digital World:The information age followed the industrial age, which followed the agricultural/handiwork age.When thinking of these “ages” in waves, although the book considers cloud computing to be thenext wave, Mr. Guggenheim believes that it will be artificial intelligence and machine learning. Alan Turing said that he test of a computer was whether it could be distinguished from a humanin a blind test. IBM’s “Watson” has already passed that test. 65% of data processing jobs can be replaced by artificial intelligence.*Remember*: Toyota uses a company called Lithium Technologies (which uses artificial intelligence) to scan all social media in real time and interpret the posts so that they can be countered in a way that keeps customers happier.5 IT Megatrends:1) Mobile Computing- in the post PC era we are currently in, increased collaboration is a given. The ability to manage in real time is now available and there are many new ways to reach customers.2) Social Media- Facebook currently has over 800 million active users. Organizations use social media to connect with customers and encourage employee connection.3) Big Data- IDC estimates that in 2011, 1.8 zettabytes of data were generated and consumed. In perspective that is 1.8 trillion gigabytes, or 57 billion 32GB ipods. That number is estimated to grow by 50x by 2020. 4) Cloud Computing- Web technologies enable the internet to be used as the platform for applications and data. *Remember* Virtualization (virtual environment on hardware), SOA (service oriented architecture), WSDL (access a program through one app, but manyusers use it) *Remember* Cloud: IAAS, PAAS, & SAAS5) Consumerization- This may be the most significant trend affecting organizational IT personnel. Today’s employees bring their own devices to work, and use their own email,social networking, etc. Key Factors Enabling Globalization:- Fall of the Berlin Wall- Windows operating system- Internet (Netscape Web Browser)- Falling telecommunications costsRise of Information Outsourcing: (moving business processes or tasks to another company)- Facilitated by declining telecommunication costs- Driven by cost reductiono Reduced labor cost for low-skilled laboro Reduced labor cost for relatively high-skilled labor- Outsourcing hurts the company when knowledge is outsourced (this is one reason that cloud computing is so helpful! It keeps all the knowledge with the original company.)- Falling transportation cost enable outsourcing. For example, shipping a bottle of wine from Australia to Europe costs only a few cents.Challenges to Reaching Global Markets:- Government (political instability, regulations, privacy, standards, censorship, etc.)- Geopolitical (time zones, infrastructure, workforce, demographics, expertise, etc.)- CulturalDefining Information Systems:Data- raw numbersInformation- formatted dataKnowledge- data relationships5 Components of Information Systems:1) People2) Telecommunication3) Hardware4) Data5) SoftwareAdditional Things to Remember:In 2005 Piccoli and Ives did a study to determine the connections between IT and competitive advantage. 2 things were shown to be connected: IT Managerial Skills & Relationships between IT and other units/departmentsThe first computer was credited to Charles Babbage who handled all of the hardware stuff, but his assistant, a woman named Ada Lovelace, invented the software.A Sony PS3 contains a processor called “The Cell.” If you link 8 of these together you can create a supercomputer.The group hiring the most Computer Science PHDs is the NSA, the second most is Wall Street.The Garter Group says that by 2017 marketing will spend more on IT that IT spends on IT.Lecture 3 (1/27/15)Lab Assignment Information:The Excel Lab 1 is due on D2L by 5pm, Wednesday 1/28/15. If there is a mistake in the work, Mr.Guggenheim will trace it back to its root source and give partial credit if the rest of the work is correct based on the original mistake. The mistake must be corrected in subsequent Labs or points will be taken off.When turning in the assignment on D2L, if it is submitted without the excel file, it doesn’t count.If you only turn in the excel file and not the Word document, 2 points are automatically taken awayTips For Excel:For all Excel Labs, save the document as a “.xlsx” This enables any computer program to read the formatting correctly.From Yahoo Finance, use the “download to spreadsheet” option rather than typing each cell individually. Once the data is downloaded, invert it by date and copy it into your spreadsheet.After typing in the first formula, select the cell with the formula, hover over the corner of the cell and left click to fill the rest of the cells with their formulas.Every Wednesday Mr. Guggenheim is in Rehn 17 to help with Lab assignments from 1pm-5pm.Lecture 4 (1/29/15)Organizational Decision Making Levels:Executive/strategy- upper management (exterior)Managerial/ tactical- middle level managementOperational Level- operational level4 Decision Styles:Rational- Data and #sIntuitive- subconsciously processing the informationAvoidant- not wanting to make a decision out of fear of being wrongSpontaneous- the worst kind of decision making! * Perlow et all 2002- the company was meeting every 2 weeks to make decisions on the spot, and they ended up going bankrupt. If youhave 7 days to decide, wait 6 days, 23 hours, and 59 minutes