ISM3003 - Quiz #1Chapter 1 - Overview of MIS and StrategyMIS: Management Information System• MIS people bridge technical people and business people• The planning, development, management, and use of IT tools and services• 3 Key Resources1. Information Technology is pervasive and ubiquitous (everywhere, every time) Data: plural, raw facts• Ex. 50, 43, 20 Datum: one, singular, raw fact• Ex. 50 Information: data with meaning in context; quality and context matters• Ex. 50ºF  Business Intelligence• Collective information about customers, competitors, environment• Cross functional boundaries within the organization Knowledge• Provides context for “Business Intelligence”; explains why• Guides decision making; individual knowledge combined with “BI”• Quality matters2. People Users; employees, customers, suppliers Technology-literate knowledge workers Information-literate knowledge workers3. Technology Hardware and software put together is a computer Hardware• Consists of the physical devices that make up a computer, for instance, keyboard mouse, modem, flash memory drive, and printer Software• Set of instructions the hardware executes to carry out a specific task such as creating a graph or surfing the webVideo: “How Technology is Changing Markets, Industries, and Lives” By Robert X. Cringely• How have computing power and technology changed over time?o Nowadays, we have more computing power in our mobile phone than all of NASA did when they sent the first man up to the moon. Smarter, faster, and cheaper.• How has technology transformed the office?o It has reduced the roles in an office, and made physical locations unnecessary. Technology is replacing people and putting those people in other areas of work. Shifted the roles of people.• How has technology made us more mobile?o We are now able to receive and send information through our mobile devices virtually anywhere and anytime. Not necessary for having a physical location.• What is the Halo Room, and who developed it?o The Halo Room is a virtual conference room that allows people have live conferences while being in two different locations. Much like Skype. Developed by Mark Gorzynski from Hewlett Packard.• What is Google trying to achieve with Google Apps?o Have a bundle of apps that allows companies/people operate more efficientlyPorter’s Five Forces1. Rivalry among existing competitors2. Bargaining power of supplierso Power increases when buyers have fewer choiceso Power decreases when buyers have more choices3. Bargaining power of buyerso Power increases when buyer have more choiceso Power decreases when buyer have fewer choices4. Threat of new entrantso Threat increases when it easy for a competitor to enter the marketo Threat decreases when it is hard for a competitor to enter the market5. Threat of substitute products or serviceso Threat increases when buyers have more choices or alternativeso Threat decreases when buyers have less choices or alternativesPorter’s Three Generic Strategies1. Focus Strategya. Narrow market scopeb. Offer products or services to a particular market, segment, geographic areac. Firefly cellphones for kids2. Differentiation Strategya. Unique competencyb. Offer a unique product or servicec. Hummer, iPhone3. Overall Cost Leadershipa. Low-cost competencyb. Offer same or better quality at a lower costc. Wal-Mart, Dollar StoreVideo: The Transformation Age• How is technology transforming the marketplace?o Through digital transaction, more control; greater pools of potential customers for business; more selections and cheaper prices for consumers• What problems did IT solve in the convenience store industry? How does IT level the playing field in this industry?o IT kept track of where and when a product is purchased. It assists inventory turnover calculations. Can change the price of a product in real-time.• What are RFIDs? How are they being used?o RFIDs are Radio Frequency Identification Device and it is used to keep track of products or pallets of products. In the past, it was expensive but now the cost is coming down making the product less expensiveo Military can track enemy movement through this technology by laying it on the ground• How is virtual shopping different from shopping on the Web?o Virtual shopping is a digital way of shopping in real life such as going to the mall and walking around with a virtual character. An example of virtual shopping is Second Life. Shopping on the Web is just going on a website and purchasing products.• How did Kodak miss a significant transformation in their industry? What was this transformation?o Kodak did not recognize that technology was changing and stuck to its traditional strategy; it could have been the pioneer of digital camerasExtras• Business strategy drives technology decisions• Value Chain Analysis: sequence of activities that company does to get to some producto Look through each step to see if there are value• Digital Divide: the segment of society that does not have the needs or access to have technology•Appendix A - Computer Hardware and SoftwareHardware• Input Deviceso Tools used to enter information and commandso Any hardware that facilitates information to a computero Mouse, video camera, keyboard, microphone• Output Deviceso Tools used to see, hear, or otherwise recognize the results of your information-processing requestso Facilitates information back to the usero Speakers, printers, screen monitor, etc…• Storage Deviceso Tools used to store information for use at a later timeo Jump drive, external hard drive, USB drive• Processing Componentso The brain of the computero CPU: central processing unit, is the actual hardware that interprets and executes the software instructions and coordinates the operation of all other hardwareo RAM: random access memory is a temporary holding area for the information you’re working witho AMD, Intel, etc…• Telecommunications Deviceso Device that connects you to the interneto A tool used to send information to and receive it from another person or computer in a networko WiFi router, cable modem, DSL modem, etc…• Connecting Deviceso HDMI cables, USB cables, input/output device cables, Ethernet cables, firewireo Bluetooth deviceSoftware• System Softwareo Handles tasks specific to technology management and coordinates the interaction of all technology deviceso Operating System: a system