A business model describes how a company produces, delivers, and sells a product or service to create wealth.
Information Technology (IT)
Information technology ( IT) consists of all the hardware and software that a firm needs to use in order to achieve its business objectives.
Information System (IS)
information system ( IS) can be defined technically as a set of interrelated components that collect ( or retrieve), process, store, and distribute information to support decision making, coordinating, and control in an organization.
Business Application Skills
Use of both business and software skills in real- world business applications. Demonstrates both business knowledge and proficiency in spreadsheet, database, and Web page/ blog creation tools.
Ability to use Internet tools to access information, conduct research, or perform online calculations and analysis.
Analytical, Writing and Presentation Skills
Ability to research a specific topic, analyze a problem, think creatively, suggest a solution, and prepare a clear written or oral presentation of the solution, working either individually or with others in a group.
are streams of raw facts representing events occurring in organizations or the physical environment before they have been organized and arranged into a form that people can understand and use.
Input captures or collects raw data from within the organization or from its external environment.
Processing converts this raw input into a meaningful form.
Output transfers the processed information to the people who will use it or to the activities for which it will be used.
output that is returned to appropriate members of the organization to help them evaluate or correct the input stage.
Information Systems Literacy
Information systems literacy includes a behavioral as well as a technical approach to studying information systems.
focuses primarily on knowledge of information technology.
are logically related tasks and behaviors for accomplishing work.
the physical equipment used for input, processing, and out-put activities in an information system.
Data Management Technology
consists of the software governing the organization of data on physical storage media.
Networking and Telecommunications Technology
consists of both physical devices and software, links the various pieces of hardware and transfers data from one physical location to another.
Internal corporate networks based on Internet technology are called intranets.
Private intranets extended to authorized users outside the organization are called extranets,
Information Technology Infrastructure
All of these technologies, along with the people required to run and manage them, represent resources that can be shared throughout the organization and constitute the firm’s information technology ( IT) infrastructure.
Change management refers to the many techniques used to bring about successful change in a business.
Critical thinking can be briefly defined as the sustained suspension of judgment with an awareness of multiple perspectives and alternatives. It involves at least four elements:
• Maintaining doubt and suspending judgment
• Being aware of different perspectives
• Testing alternatives and letting experience guide
• Being aware of organizational and personal limitations
How are information systems transforming business, and what is their relation-ship to globalization?
E- mail, online conferencing, and cell phones have become essential tools for conducting business. Information systems are the foundation of fast- paced supply chains. The Internet allows businesses to buy, sell, advertise, and solicit customer feedback online. The Internet has stimulated globalization by dramatically reduc-ing the costs of producing, buying, and selling goods on a global scale.
Why are information systems so essential for running and managing a business today?
Information systems are a foundation for conducting business today. In many industries, survival and even existence is difficult without extensive use of information technology. Businesses use information systems to achieve six major objectives: operational excellence; new products, services, and business models; customer/ supplier intimacy; improved decision making; competitive advantage; and day- to- day survival.
What exactly is an information system? How does it work? What are its people, organization, and technology components?
From a technical perspective, an information system collects, stores, and disseminates information from an organization’s environment and internal operations to support organizational functions and decision making, communication, coordination, control, analysis, and visualization. Information systems transform raw data into useful information through three basic activities: input, processing, and output. From a business perspective, an information system provides a solution to a problem or challenge facing a firm and represents a combination of people, organization, and technology elements.
How will a four- step method for business problem solving help you solve information system- related problems?
Problem identification involves understanding what kind of problem is being presented, and identifying people, organizational, and technology factors. Solution design involves designing several alternative solutions to the problem that has been identified. Evaluation and choice entails selecting the best solution, taking into account its cost and the available resources and skills in the business. Implementation of an information system solution entails purchasing or building hardware and software, testing the software, providing employees with training and documentation, managing change as the system is introduced into the organization, and measuring the outcome. Problem solving requires critical thinking in which one suspends judgment to consider multiple perspectives and alternatives.
How will information systems affect business careers, and what information system skills and knowledge are essential?
Business careers in accounting, finance, marketing, operations management, management and human resources, and information systems all will need an understanding of how information systems help firms achieve major business objectives; an appreciation of the central role of databases; skills in information analysis and business intelligence; sensitivity to the ethical, social, and legal issues raised by systems; and the ability to work with technology specialists and other business profession-als in designing and building systems.
senior management, which makes long- range strategic decisions about products and services as well as ensures financial performance of the firm;
operational management, which is responsible for monitoring the daily activities of the business.
Production or Service Workers
Production or service workers actually produce the product and deliver the service.
Knowledge workers, such as engineers, scientists, or architects, design products or services and create new knowledge for the firm, whereas data workers, such as secretaries or clerks, assist with administrative work at all levels of the firm.
Transaction Processing Systems
Transaction processing systems ( TPS) provide this kind of information. A transaction processing system is a computerized system that performs and records the daily routine transactions necessary to conduct business, such as sales order entry, hotel reservations, payroll, employee record keeping, and shipping.
Management Information Systems
management information systems ( MIS) also designates a specific category of information systems serving middle management. MIS provide middle managers with reports on the organization’s current performance. This information is used to monitor and control the business and predict future performance.
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