ISM3003 Quiz 1 Chapter 1 Overview of MIS and Strategy MIS Management Information System MIS people bridge technical people and business people The planning development management and use of IT tools and services 3 Key Resources Technology is pervasive and ubiquitous everywhere every time 1 Information Data plural raw facts Ex 50 43 20 Datum one singular raw fact Information data with meaning in context quality and context matters Ex 50 Ex 50 F Business Intelligence Knowledge Collective information about customers competitors environment Cross functional boundaries within the organization Provides context for Business Intelligence explains why Guides decision making individual knowledge combined with BI Quality matters 2 People 3 Technology Users employees customers suppliers Technology literate knowledge workers Information literate knowledge workers Hardware and software put together is a computer Hardware Software Consists of the physical devices that make up a computer for instance keyboard mouse modem flash memory drive and printer Set of instructions the hardware executes to carry out a specific task such as creating a graph or surfing the web Video 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 efficiently Porter s Five Forces 1 Rivalry among existing competitors 2 Bargaining power of suppliers o Power increases when buyers have fewer choices o Power decreases when buyers have more choices 3 Bargaining power of buyers o Power increases when buyer have more choices o Power decreases when buyer have fewer choices 4 Threat of new entrants o Threat increases when it easy for a competitor to enter the market o Threat decreases when it is hard for a competitor to enter the market 5 Threat of substitute products or services o Threat increases when buyers have more choices or alternatives o Threat decreases when buyers have less choices or alternatives Porter s Three Generic Strategies 1 Focus Strategy a Narrow market scope b Offer products or services to a particular market segment geographic area c Firefly cellphones for kids 2 Differentiation Strategy a Unique competency b Offer a unique product or service c Hummer iPhone 3 Overall Cost Leadership a Low cost competency b Offer same or better quality at a lower cost c Wal Mart Dollar Store Video 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 expensive o 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 cameras Extras Business strategy drives technology decisions Value Chain Analysis sequence of activities that company does to get to some product o 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 Software Hardware Input Devices o Tools used to enter information and commands o Any hardware that facilitates information to a computer o Mouse video camera keyboard microphone Output Devices processing requests o Facilitates information back to the user o Speakers printers screen monitor etc Storage Devices o Tools used to store information for use at a later time o Jump drive external hard drive USB drive Processing Components o Tools used to see hear or otherwise recognize the results of your information o The brain of the computer o CPU central processing unit is the actual hardware that interprets and executes the software instructions and coordinates the operation of all other hardware o RAM random access memory is a temporary holding area for the information you re working with o AMD Intel etc Telecommunications Devices o Device that connects you to the internet o A tool used to send information to and receive it from another person or computer in a network o WiFi router cable modem DSL modem etc Connecting Devices o HDMI cables USB cables input output device cables Ethernet cables firewire o Bluetooth device Software System Software o Handles tasks specific to technology management and coordinates the interaction of all technology devices o Operating System a system software that controls your application software and manages how your hardware devices work together Windows Mac o Utility software a software that provides additional functionality to your operating system software backup software virus