Exam 1 (CH 1-4) Flashcards
(26 cards)
E-Commerce
the buying and selling of goods and services by using the Internet
E-Business
the use of the Internet to conduct and support day-to-day business activities
Object technology
a software technology that defines a system in terms of objects that consolidate data and behavior (into objects).
Systems Integration
process of building a unified information system out of diverse components of purchases software, custom-built software, hardware, and networking
Information technology
the hardware and software a business uses to achieve objectives
Information system
interrelated components that manage information to
Data
streams of raw facts
Information
data shaped into meaningful, useful form
input
activity of gathering and capturing raw data
processing
converting or transforming data into useful ouputs
output
production of useful information, usually in form of docs and reports
feedback
output used to make changes to input or processing activities
system variable
quantity or item controlled by the decision maker
system parameter
value or quantity that cannot be controlled
Computer-based information system (CBIS)
A single set of hardware, software, databases, telecommunications, people, and procedures that are configured to collect, manipulate, store, and process data into information
TPS
Transaction processing systems
organized collection of people, procedures, software, databases, and devices used to record completed business transactions
The TPS records the data from everyday operation throughout every division or department in the organization. Each division/department is tied together through the TPS to provide useful information to all management levels throughout the company
MIS
Management information systems
Help with monitoring, controlling, decision making, and administrative activities
An MIS is used by managers throughout the organization to help them in directing, planning, coordinating, communicating and decision making. The MIS will help answer structured questions.
E/DSS
Executive/Decision support systems
Help address strategic issues and long-term trends, both in firm and in external environment
DSS is used for complex “what if” questions that require internal and external data. Decisions at this mgt level are somehow semi-structured ==) the system should respond to non-routine questions and help managers with non-routine decisions.
Strategy
a set of decisions made to achieve competitive advantage
Competitive Advantage
ability of a firm to outperform its competitors in financial measures
measures:
Accounting profits - not a bad measure for firms in identical/very comparable businesses
Stock Price - can rflect values not in the accounting tables
Operational Effectiveness
performing the same tasks better than rivals perform them.
-lower cost
Strategic Positioning
performing different tasks than your rivals, or performing the same tasks in a different way.
-Higher value/revenue
Product Differentiation
Many possible dimensions to differentiate products
Physical attributes: color, size, …
Intangible attributes: service, quality
Two types of differentiation
Vertical - build a better product; products differ in quality (Civic vs. Acura)
Horizontal - position yourself in “product space” away from your competitors; used to appeal to distinct group of customers (red and blue cars)
Price discrimination
when sales of identical goods or services are transacted at differentpricesfrom the same provider.
In general, the practice of charging different customers different prices is calledprice discrimination
