Intro to BIS Exam #1

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Cloud
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Terms in this set (56)
Cloud
Trend that refers to the mass storage of information saved over the internet and used by major companies such as Amazon, Apple, and Microsoft.
Big Data
Trend that provides a treasure of analytics on market trends, customers, products, etc. to allow companies to gear their marketing towards the appropriate audience.
Social
Trend that allows companies to build and maintain customer relationship quicker and more efficiently as well as gives them a good opportunity to increase brand recognition.
Mobility
Trend that allows people to work from anywhere they can get a signal or connection.
Globalization
the process by which businesses or other organizations develop international influence or start operating on an international scale, movement occurred as a result of the internet reducing costs of operating internationally.
Information System
Computer system or set of components for collecting, processing, storing and distributing information used to assist in achieving a business objective.
Execute the Process
First Activity of Info Systems- Involves informing people when and how to complete a task, as well as providing the necessary data.
Capture and Store Process(or Transaction) Data
Second Activity of Info Systems- Involves processes that create data such as dates, times, quantities, prices, etc. as well as who did what, when and where.
Monitor Process Performance
Third Activity of Info Systems- Involves evaluating the information about a process, indicating how well a processing is currently being executed, and assisting in detecting any problems.
Internet of Things
describes a system in which everyday objects are connected to the internet with the switch of an on/off button, and in turn are able to communicate information throughout an interconnected system.
Primary ActivitiesActivities of the value chain that relate directly to the physical creation, sale, maintenance and support of a product or service. Including, inbound and outbound logistics, operations, marketing and sales, and service.Support activitiesActivities of the value chain that either add value by themselves or add value through important relationships including procurement, technology development, human resource management, and general administration.Information Processing ActivitiesThese components of the value chain fall under which category? Data Collection and Storage, Transformation into Business Systems, and Dissemination.Business ProcessesThese components of the value chain fall under which category? Supply Chain Management, Enterprise Management, Customer Management, and Knowledge Management.Management ActivitiesThese components of the value chain fall under which category? Planning, Coordinating, Controlling, Modeling, and Decision MakingComplementary AssetsDerive value from IT assets, firms supporting their primary investment with smaller side investments in things that affect the value of the primary investment to the customerOperational excellence(Business Objective): involves a firm's focus on efficient operations and excellent supply chain managementNew products, services, and business models(Business Objective): Describes how company produces, delivers, and sells product or service to create wealth -Information systems and technology a major enabling tool for new products, services, business models -Examples: Apple's iPad, Google's Android OS, and NetflixCustomer and supplier intimacy(Business Objective): -Customers who are served well become repeat customers who purchase more -Close relationships with suppliers result in lower costsImproved decision making(Business Objective):If managers rely on forecasts, best guesses, and luck, they will misallocate employees, services, and inventory. Real-time data improves ability of managers to make decisions.Competitive advantage(Business Objective): a set of unique features of a company and its products that are perceived by the target market as significant and superior to those of the competitionSurvival(Business Objective): the process of staying aliveOrganization: Technical DefinitionA stable, formal, social structure that takes resources from the environment and processes them to produce outputs.Organization: Behavioral DefinitionA collection of rights, privileges, obligations, and responsibilities that is delicately balanced over a period of time through conflict and conflict resolutionBehavioral DefinitionWhich of the two definitions of an Organization is easier to change because there are no humans in the model, or the humans are simple if so.RoutinesPrecise rules, procedures and practices that have been developed to cope with virtually every expected situation.Business ProcessCollection of routines- set of tasks and activities that produce a desired outcomeStandard Operating Procedures (SOPs)Specific sets of written instructions about how to perform a certain aspect of a taskDisruptive TechnologiesIT changes relative costs of capital and costs of information and affects the price and quantity of info available, allowing for these to proceed... (Hint Past and Present)Transaction theoryFirms seek to economize on the cost of participating in markets. I.e. Vertical Integration, Hiring more employees, Buying supplies and DistributorsAgency Theorya theory that views the firm as a nexus of legal contracts, firm experiences the cost of managing and supervising which rise as the firm grows.Traditional competitorsPorters Competitive Forces Model: All firms share market space with competitors who are continuously devising new products, services, efficiencies, and switching costsNew Market EntrantsPorters Competitive Forces Model: Some industries have high barriers to entry, for example, computer chip business New companies have new equipment, younger workers but little brand recognitionSubstitute products and servicesPorters Competitive Forces Model: Substitutes customers might use if your prices become too high, for example, iTunes substitutes for CDsCustomersPorters Competitive Forces Model: Can customers easily switch to competitor's products? Can they force businesses to compete on price alone in transparent marketplace?SuppliersMarket power of suppliers when firm cannot raise prices as fast as suppliersLow-cost leadership-Produce products and services at a lower price than competitors -Example: Walmart's efficient customer response systemproduct differentiationEnable new products or services, greatly change customer convenience and experienceFocus on market nicheUse information systems to enable specific market focus, and serve narrow target market better than competitorsCustomer and supplier intimacyUse information systems to develop strong ties and loyalty with customers and suppliersComputer hardware platformsComponent of IT Infrastructure: Client machines. - Desktop PCs, laptops. - Mobile computing: smartphones, tablets. Servers. - Blade servers: ultrathin computers stored in racks. Mainframes: - IBM mainframe equivalent to thousands of blade servers. Top chip producers: Intel, AMD.Operating SystemsComponent of IT Infrastructure: Provide an interface between the user or application program and the computer hardware. Server Level: - 65% run Unix or Linux - 35% run Microsoft Windows Client Level PC: -90% run WindowsEnterprise software applicationsComponent of IT Infrastructure: ___________ application providers: SAP and Oracle. These applications are considered to be part of IT infrastructure. Traditionally, large firms were the most prominent users of the specific software. Middleware providers: IBM, Oracle.Data Management and StorageComponent of IT Infrastructure: Structured and Unstrctured DATA to consider. Database software: IBM (DB2), Oracle, Microsoft (SQL Server), Sybase (Adaptive Server Enterprise), MySQL. Physical data storage: EMC Corp (large-scale systems), Seagate, Western Digital. Storage area networks (SANs): Connect multiple storage devices on dedicated network.Networking and Telecommunications PlatformsComponent of IT Infrastructure: Cable and Telephone company charges for voice lines and internet access.Internet PlatformsComponent of IT Infrastructure: Hardware, software, management services to support company Web sites (including Web-hosting services), intranets, extranets. Internet hardware server market: IBM, Dell, Sun (Oracle), HP. Web development tools/suites: Microsoft (Visual Studio and .NET), Oracle-Sun (Java), Adobe, Real Networks.Consulting and system integration servicesComponent of IT Infrastructure: Even large firms do not have resources for full range of support for new, complex infrastructure. Leading consulting firms: Accenture, IBM Global Services, HP, Infosys, Wipro Technologies. Software integration: ensuring new infrastructure works with legacy systems. Legacy systems: older TPS created for mainframes that would be too costly to replace or redesignGreen Computing (Green IT)Refers to practices and technologies for designing, manufacturing, using, and disposing of computers, servers, and associated devices such as monitors, printers, storage devices, and networking and communications systems to minimize impact on the environment.ScalabilityRefers to how well a system can adapt to increased demandsVirtualizationAllows single physical resource to act as multiple resources (i.e., run multiple instances of OS) Reduces hardware and power expenditures Facilitates hardware centralizationMoore's LawLaw that states the observation that computing power roughly doubles every eighteen months (two years)LinuxAn open source software operating system used in high-performance computing Used in mobile devices, local are networks, web servers, Android OSOpen Source Software (OSS)The programs distributed and licensed so that the source code making up the program is freely available to anyone who wants to examine, utilize, or improve upon it.N-tier client/server architecturesthe work of the entire network is balanced over several levels of servers, depending on the kind of service being requestedNanotechnologyshrinks size of transistors to size comparable to size of a virusSaaS (Software as a Service)Pay for software as you use it. Not installed locally, instead it is 'Hosted'software e.g. Google Docs