mis 250 exam 1 terms (ch 1,2,3)

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Chief information officer

exec position who is responsible for leading the overall information systems component within an organization and integrating new technologies into the organization's business strategy

Collaboration system

software designed to enable people to communicate, collaborate, and coordinate with each other

Competitive advantage

firm's ability to do something better, faster, cheaper, or uniquely than a rival in the same market

Data

raw material, recorded, unformatted information such as words and numbers

Downsizing

practice of slashing costs and streamlining operations by laying off employees

Hardware

physical computer equipment

Information

representation of reality

Information systems/Computer-based information systems

combinations of hardware software and telecommunications networks that people use to collect, create, and distribute useful data in organizational settings

Information technology

machine technology that is controlled by or uses information

Internetworking

connecting host computers and their networks together to form even larger networks

Knowledge

understand relationships between different pieces of information

Knowledge society

growth in knowledge workers that eventually become important and thus become leaders; education is the cornerstone

Knowledge worker

professionals who are relatively well educated, who create, modify, and synthesize knowledge as a fundamental part of their jobs

New economy

alternative term to knowledge society

Office automation system

collection of software and hardware that automates office tasks

Outsourcing

moving of routine jobs and/or tasks to people in another firm, at less cost.

Service mentality

belief among information systems personnel that their chief goal is satisfying their systems customers within the firm while fundamentally believing that the customers own the tech and info

Software

program that tells a computer to perform certain processing functions

Strategic

way of thinking in which plans are made to accomplish specific goals

Systems integration

connecting separate information systems and data to improve business processes and decision making

Technology

any mechanical/electrical means to supplement, extend, or replace human, manual operations or devices

Telecommunications networks

group of two or more computer systems linked together with communications equipment

Wisdom

accumulated knowledge

Concept of time

longer and shorter term orientation

Culture

collective programming of the mind that distinguishes the members of one group or category from people of another

Domestic company

companies within the US(mostly small to local businesses)

Embargoes

type of export regulation concerning the flow of goods and services, typically limiting trade with one particular country

Export regulations

regulations directed at limiting the export of certain goods to other countries

Geoeconomic

economic and political factors that influence a region

Global business strategy

company trying to achieve economies of scale by producing identical products in large quantities for a variety of different markets (Sony)

Globalization

integration of economies throughout the world, enabled by innovation and technological progress

Globalization 1.0

first stage of globalization (15th century to 1800s), power from horses, wind, and steam. European countries were globalization shrinking the world from large to medium. Industries changed slowly and globalization effects were barely noticed.

Globalization 2.0

second stage of globalization (1800s to 2000), driven by reduction of transportation and communication costs. Mainly American and European countries were globalizing shrinking the world from medium to small. Changes still happening at a slow pace.

Globalization 3.0

third stage of globalization(from 2000 on) driven by convergence of ten "flatterers" shrinking world from size small to tiny, changes are happening at a faster pace making people readily feel the effects of industry changes

Home replication strategy

most basic form, business views international operations as secondary to their home operations (Porsche)

Individualism/collectivism

reflects the extent to which a society values the position of an individual versus the position of a group

In-forming

allows individuals to utilize search engines to build their "own personal supply chain of information, knowledge, and entertainment"

In-sourcing

refers to the delegation of a company's logistics operations to a subcontractor that specializes in that operation

International business strategy

strategy for competing in different global markets

Life focus

what extent a culture focus on the quantity versus the quality of life

Maquiladoras

assembly plants located on the Mexican side of US-Mexican border to take advantage of lower wages and less stringent regulations

Masculinity/femininity

male: assertiveness, or female: nurturance

Multidomestic business strategy

Offshoring to retain knowledge in specific market

Nearshoring

use of locations closer to the home country in terms of geographical, political, linguistic, economic, or cultural distance

Offshoring

having certain functions performed by the same company but in a different country

Offshore outsourcing

outsourcing of business processes on a global scale

Power distance

how different societies handle the issue of human inequality and sheds light on inherent power structure whining organizations and teams

Quotas

regulation permitting foreign businesses to export only a certain number of products into a specific country

Tariffs

government imposed fees to regulate the flow of goods and services in and out of a country

Transborder data flows

data flowing across national boundaries

Transnational business strategy

business that determines which aspect of the business should be under central control, and which aspect not in central control(decentralized)

Uncertainty avoidance

risk taking of a culture

Uploading

ability of individuals and companies to actively participate in content generation on the web, allowing anyone to be a producer of information instead of a consumer

Wiki

websites allowing users to add, remove, edit content

Work flow software

software applications that allows for software-to software interaction

Automating

completing tasks within an organization faster, more cheaply, and perhaps with great accuracy

Best-cost provider strategy

strategy to offer products or services of reasonably good quality are competitive prices

Break-even analysis

type of cost-benefit analysis to identify at what point tangible benefits equal tangible costs

Business processes

activities organizations perform in order to reach their business goals, consisting of core processes and supporting processes

Cost-benefit analysis

techniques the contrast the total expected tangible costs versus the tangible benefits for an investment

Differentiation strategy

strategy in which an organization differentiates itself by providing better products or services

Discount rate

rate of return used by an organization to compute the present value of future cash flows

Disruptive innovations

new technology, product, or service that eventually surpasses the existing dominate technology, product, or service in a market

E-business

variety of types of IT and systems to support every part of business

E-business innovations cycle

extent to which an organization derives value from a particular IT over time

Economic opportunities

opportunities that a firm finds for making more money or money in new ways

Enabling technology

IT that enables a firm to accomplish a task or goal or to gain or sustain a competitive advantage in some way

Freeconmics

leverage of digital technologies to provide free goods and services to customer as a business strategy

Informing

ability of IT to provide information about operation within a firm and underlying work process

Innovator's dilemma

notion that disruptive innovations can cause establish firms to lose market dominance

Intangible benefit

benefit of using a particular system or technology

Intangible cost

cost of using a particular system or technology

Learning organization

organization that is skilled at creating, acquiring, and transferring knowledge and at modifying its behavior to reflect new knowledge and insights

Low-cost leadership strategy

strategy to offer the best prices in the industry on gods and services

Making the business case

process of identifying, quantifying, and presenting the value provided by an IS

Net-present value analysis

type of cost-benefit analysis of cash flow streams associated with an investment

Nonrecurring costs

onetime costs that are not expected to continue after a system is implemented

Organizational learning

ability of an organization to learn from past behavior and information improving as a result

Organizational strategy

firm's plan to accomplish its mission and goals as well as to gain or sustain competitive advantage over rivals

Productivity paradox

observation that productivity increases at a rate that is lower than expected when new tech is introduced

Proxy variables

alternative measurements of outcomes, used when it is difficult to determine and measure direct effects

Recurring costs

ongoing costs that occur throughout the life cycle of a systems development, implementation and maintenance

Strategic necessity

something an organization must do to survive

Strategic planning

process of forming a vision of where the organization needs to head,

System effectiveness

extent in which a system enables people/firm to accomplish goals or tasks well

System efficiency

extent to which a system enables people or firm to do things faster, at lower cost, or with relatively little time and effort

Tangible benefit

benefit of using a particular system or technology

Tangible cost

cost of using a particular system of technology

Total cost of ownership(TCO)

cost of owning and operating a system, including the total cost of acquisition as well as all costs associated with its ongoing use and maintenance

Value chain

set of primary and support activities in an organization where value is added to a product or service

Value chain analysis

process of analyzing an organizations activities to determine where value is added to products or services and the costs that are incurred

Value proposition

what a business provides to a customer and what that customer is willing to pay for that produce or service

Weighted multicriteria analysis

method for deciding among different IS investment or alternative designs for a given system

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