Midterm Flashcards
(26 cards)
System thinking
Way of monitoring entire system by viewing multiple inputs being or transformed to produce outputs while continuously gathering feedback
Competitive advantage
Feature of product that sets above other companies
Business intelligence
Info collected from multiple sources to analyze patterns, trends, and relationships for strategic decision making
SWOT
Strength. Weakness. Opportunities. Threats
Porters five forces
Analyzes competitive forces within the environment which company operates to asses the potential for profitability in an industry
Operational level
Day to day
Employees develop, control and maintain core business activities required to run day to day operations
Efficiency MIS metrics
Measures performance of MIS
- transactional speed
- system availability
Key performance indicators
Qualifiable metrics with company uses to evaluate progress toward critical success factors
Streamlining
Improves business process efficiencies by simplifying or eliminating unnecessary steps
E commerce
Buying and selling of goods and services over the Internet
EBusiness
Includes eCommerce along with activities related to Internet and external business operations
Trade mark
Distinctive mark
Information ethics
Govern ethical and moral issues arising from development and use of information
Information security
Protect info from accidental misuse of personal info of an organization
Structured decisions
Also considered operational. Made frequently and are almost repetitive in nature, short term business strategies
Managerial levels
Middle of triangle
Employees continuously evaluating company operations to hone firms abilities to identify, adapt and leverage change
Effectiveness
Measure impact of MIS has on business process and activities
- customer satisfaction
Transactional info
Encompasses all the info contained within a single business process or unit of work
Streamlining
Improves business process efficiencies by simplifying or eliminating unnecessary steps
E commerce
Buying and selling of goods and services over the Internet
EBusiness
Includes eCommerce along with activities related to Internet and external business operations
Information property
Protect property that is primarily part of mental creativity rather than physical
Copyright protect expensive ideas
Fixed
Original
Creative
EPolicies
Policies and procedures that address the info management along with ethical use of computers and Internet in business environment
