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K201 > K201 Lecture Final > Flashcards

K201 Lecture Final Flashcards

1
Q

Social Media Information System (SMIS)

A

An IS that promotes the sharing of content among network users.

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2
Q

Three Main Uses of SMIS

A
  1. User communities - Groups of people separated by various characteristics. 2. Social Media Sponsors - companies that choose to support a presence on one or more sites 3. Social Media Application - companies that operate SM sites. Facebook, Twitter and Google are all SM application providers. (Most make money from advertisements)
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3
Q

Do SMIS cost money?

A

YES! Labor, development, implementation, etc. all cost money

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4
Q

Which two “communities” are important to commerce?

A

Defenders of Belief and Seekers of the Truth

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5
Q

Defenders of Belief

A

Share a common belief and form a hive around that belief. They seek conformity and want to convince others of this belief. Strong bonds to an organization.

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6
Q

Seekers of the Truth

A

Share a common desire to learn something, solve a problem, or make something happen. Common problem but not a common solution yet. Incredible problem solvers and excel at innovation.

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7
Q

Five Primary Value Chain Activities

A
  1. Sales and Marketing 2. Customer Service 3. Inbound and Outbound Logistics 4. Manufacturing and Operations 5. Human Resources
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8
Q

Sales and Marketing (Defender of Belief)

A

Social CRMs become important as the relationship between the organization and the customer emerge in a dynamic process as they both create and process content.

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9
Q

Customer Service (Seeker of the Truth)

A

Product users are amazingly willing to help each other with product problems and will always “seek the truth” even if that means recommending another company’s product over yours.

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10
Q

Inbound and outbound logistics (Seeker of the Truth)

A

Seekers of the truth communities provide better and faster problem solutions to complex supply chain problems. Loss of privacy is risk…

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11
Q

Manufacturing and Operations (Seekers of the Truth)

A

Dominated by structured processes: crowd-sourcing, Enterprise 2.0, SLATES, Folksonomy

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12
Q

Crowd-sourcing

A

Social media process of employing users to participate in product design or redesign

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13
Q

Enterprise 2.0

A

Application of social media to facilitate the cooperative work of people inside the organization. Potential problem is the quality of its dynamic process

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14
Q

SLATES

A

Acronym that refers to Enterprise 2.0 meaning search, link, author, tagged, extensions and signaled

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15
Q

Folksonomy

A

Content structured that has emerged from the processing of many user tags

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16
Q

Human Resources (Defender of Belief)

A

Risks of using social media in HR is the error of forming conclusions about employees from their SM. Also if they are a defender of a belief, it could conflict with the company’s belief as well

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17
Q

Capital

A

The investment of resources for future profit

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18
Q

Human Capital

A

The investment in human knowledge and skills for future profit

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19
Q

Social capital

A

The investment in social relations with the expectation of returns in the marketplace

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20
Q

In what four ways does social capital add value?

A
  1. Information 2. Influence 3. Social credentials 4. Personal reinforcement
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21
Q

Elements of social capital

A

Number of relationships, strength of relationships, and resources controlled by “friends”

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22
Q

Strength of Relationship

A

The likelihood that that person or organization will do something to benefit the organization.

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23
Q

Social capital equation

A

of Relationships x Relationship strength x Entity resources

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24
Q

Hyper-social organization

A

An organization that uses social media to transform its interactions with customers, employees and partners into mutually satisfying both sides. Process laid out like this: Consumers –> humans Market segments –> tribes Channels –> networks Structure/Control –> messiness

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25
Q

Tribes

A

They defend beliefs or seek the truth and it the company can support a tribe they improve morale, solve the problem and increase social capital

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26
Q

Channels vs. networks

A

Channels transmit data while networks transmit knowledge

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27
Q

SEAMS

A

How hyper-social organizations define their process: *Sense important communities *Engage in relationships (Key users - trained to perform SM tasks) *Activate - connect community to value chain *Measure success in terms of social capital (Active Lurker) *Story tell - publicize community success

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28
Q

Active Lurker

A

Someone who reads/observes activity in one social medium and broadcasts it in some other medium

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29
Q

Social Media Policy

A

A statement that delineates employees’ rights and responsibilities

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30
Q

User generated content (UGC)

A

Content on your SM site that is contributed by non-employee users is the essence of SM relationships.

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31
Q

Porter’s Five Forces (Why its used and what are they?)

A

Used to help companies determine a market strategy after analyzing the undistry structure

32
Q

Value and margin

A

Value is the amount of money a customer is willing to pay for a resource, product or service. The margin is the difference between the value and the costs of making it.

33
Q

Value Chain

A

A network of value-creating activities consisting of five primary activites and four support activities.

34
Q

Five primary activities of a value chain (Name and define)

A
  1. Inbound logistics - receiving, storing, and disseminating inputs to the products
  2. Operations/manufacturing - transforming inputs into final products
  3. Outbound logistics - collecting, storing, and physically distributing products to drivers
  4. Sales and marketing - Inducing buyers to purchase the products and providing a means for them to do so
  5. Customer service - Assisting customers’ use of the products and thus maintaining and enhancing products’ value
35
Q

Four support activites of value chain (Name and give role)

A
  1. Procurement - finding vendors, setting up contractual agreements, and negotiating prices (different from inbound logisitcs because it is based on what procurement says)
  2. Technology - research, development, developing new techniques, methods, etc.
  3. Human resources - recruiting, compensation, evaluation, and training of employees
  4. Firm infrastructure - general management, finance, accounting, legal, and government affairs.
36
Q

Business process

A

Network of activities that generate value by transforming inputs into outputs.

37
Q

Repository

A

A collection of something - data repository, raw material repository, etc.

38
Q

Linkages

A

Interactions across value activities to help reduce costs of the overall process. For example, sales forecasts can be used to plan production, which then lower investory size and in return, costs.

39
Q

Three ways companies acquire competitive advantage

A
  1. Create new product or service
  2. Enhancing exisitng products or services
  3. Differentiating their products and services from those of their competitors
40
Q

How do information systems provide competitive advantage?

A

They can either help by being a part of the product like a car with a navigation system or support the product like a system that schedules maintence appointments

41
Q

What are the five aspects of competitive advantage via business processes? (Define as well)

A
  1. Lock in customers by creating switching costs, making it hard to for customers to switch organizations
  2. Lock in suppliers - Make it difficult for a supplier to swtich to another company or make it really easy to connect and work with your company
  3. Create entry barriers that make it difficult and expensive for new competition to enter the market
  4. Establish alliances to establish standards, promote product awareness, develop market size, etc.
  5. Reduce costs or increase profitability - help yourself and the shareholders who are the backbone of the company
42
Q

Structured processes

A

Formally defined, standardized processes that involve dat to day operation: accepting a return, placing an order, purchasing materials, etc.

43
Q

Dynamic processes

A

Flexible, informal and adaptive processes that normally involve strategic and less structured activties like deciding whether to open a new store location and how to solve the problem of excessive product returns

44
Q

Workgroup information system

A

Supports one or more processes within the workgroup. Also known as a functional information system. Program component is called a functional application

45
Q

Enterprise process and IS

A

Support one or more enterprise processes in multiple departments that span an organization

46
Q

Inter-enterprise processes and IS

A

Spans two or more independent organizations and typically involves thousands of users. Difficult to change due to complexity.

47
Q

Process efficiency and effectiveness

A

Efficiency is the ratio of inputs to outputs, so either producing more at the same cost or produce the same at a lower cost. Effectiveness is a measure of how well a process achieves organizational strategy, which means they successfully fulfill their promise to their customers (speed, cusomter service, high quality, etc.)

48
Q

How can processes be improved? (3 ways)

A

Change the process structure ( strategy, infrastructure, etc.)

or

Change the process resources, which consist of humans and information systems (allocate appropriately to balance costs and effectiveness)

49
Q

What are the three ways information systems can improve process quality?

A

Performing an activity itself

Augmenting a human who’s performing an activity

Controlling data quality process flow

50
Q

Information silo

A

When data are isolated in separated information systems

51
Q

Data integrity

A

When an organization has inconsistent duplicated data, so when data is modified or deleted many problems can arise

52
Q

Process reengineering

A

Altering existing and designing new business processes to take advantage of new information systems. However, this process is slow, difficult, and expensive because they need to transfer tons of data then train their employees how to use the new system.

53
Q

Inherent processes

A

Predesigned processes for organizations to license from another company that specializes in such fields. This eliminates expense and delays and avoids business process reengineering

54
Q

Customer Relationship Management (CRM)

A

Suite of applications, a databse, and a set of inherent processes for managing all the interactions with the customer and ensures a positive experience.

55
Q

4 stages of customer life cycle

A

Marketing, customer acquisition, relationship management, and loss/churn of customers (like customer support)

56
Q

Enterprise resource planning (ERP)

A

A suite of applications called “modules,” a database, and a set of ingerent processes for consolidating business operations into a single platform. Consists of CRM applications plus accounting, inventory, and human resources apps.

57
Q

Enterprise Application Integration (EAI)

A

Software applications that integrate existing systems by providing layers of software that connect applications together. For example:

  • connects system “islands” via a new layer of software
  • Integrates information
  • Leverages existing systems by not changing applications but by providing an integration layer over top
  • Gradual move to ERP as well
58
Q

Applications of a “true” ERP product must intgrate what 5 components? (Describe all 5 briefly with examples)

A

Supply chain (procurement, inventory, supplier management)

Manufacturing (scheduling, capacity planning, quality control)

CRM (sales prospecting, customer management, marketing, customer support)

Human resources (payroll, time and attendance, HR management, commission calculations)

Accounting (general ledger, accounts receivable, cash and asset management)

59
Q

Define and contrast: PaaS vs. SaaS

A

PaaS: when an organization replaces their hardware infrastructure with hardware in the cloud and then install the ERP software in the cloud. The user then manages their own ERP (bigger companies)

SaaS: when an organization acquires a cloud-based ERP solution but through a company that offers their cloud and their service throughout use (smaller companies)

60
Q

Trigger

A

A computer program stored within the database that runs to keep the database consistent when certain conditions arise

61
Q

Stored Procedure

A

A computer program stored int eh database that is used to enforce business rules

62
Q

Two types of computer code used in ERP

A

Trigger

Stored procedure

63
Q

Process blueprints

A

Inherent processes that are built into the ERP before getting to the user

64
Q

“Train the trainer”

A

People within the organization called Super Users are trained by the ERP vendor to be trainers for the user’s company

65
Q

Industry specific solutions

A

Starter kits that are provided by the ERP vendor that are already configurated to fit a company in specific industries

66
Q

5 Major ERP Vendors

A

SAP, Oracle, Infor, Microsoft Dynamics, Epicor

67
Q

Self-efficacy and relevance to ERP

A

A person’s belief that he or she can be successful as his or her job. This is often threatened when a company switches to an ERP, which requires training and positive buzz

68
Q

Why visualize data?

A

Fastest way to absorb information is through the eyes

We suffer from data overload

We can see patterns and connection easier

69
Q

Infrographics

A

Facts or numbers or events that are enhanced visually, which makes it easier to understand

70
Q

Difference between data visualization and infographics

A

Data visualization is putting data into visual charts, tables, creative charts, etc. Infographics is displaying text and ideas in a visually pleasing way

71
Q

How can infographics be misleading?

A

Do not draw conclusions based on colors because the data behind the colors could be difference

Check axis values to make sure you understand the difference in values

Varify source is unbiased, check for documentation to see if data was removed and why, misleading statistics

72
Q

What is good chart design?

A

LESS IS MORE
Remove unnecessary aspects like special effects, bright and vibrant colors, lots of lines and axis, borders, etc. Even add direct labels to the lines/blocks on the chart instead of values on the axis

73
Q

What is a spreadsheet?

A

A mathematical representation of real world happenings, it describes the current state and analyzes past data as well.

74
Q

Prescriptive vs. descriptive spreadsheet models

A

Prescriptive models analyze past events and data while descriptive describes what is going on right now

75
Q

Characteristics of a good spreadsheet model

A

Accuracy, clarity, flexibility, efficiency and documentation

76
Q

Principles of good spreadsheet design

A

Named ranges, comment and text boxes, typography for readability and colors for organization and prevent errors with data validation rules

77
Q
A

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