MIS 102 Wooleyhan Exam 1 Study Guide (copy)

Abstract Reasoning

The ability to make and manipulate models

Bell’s law

a new computer class forms roughly each decade establishing a new industry

Collaboration

the activity of two or more people working together to achieve a common goal

Computer Hardware

the computer, storage disk, keyboard, and monitor

Computer based Information System

an information system that includes a computer

Data

recorded facts and figures, the words, sentences, and paragraphs in a report

Digital Revolution

The conversion from mechanical and analog devices to digital devices in the 1970s

Experimentation

making a reasoned analysis of an opportunity, envisioning potential solutions, evaluating those possibilities, and developing the most promising ones consistent with the resources you have

Five Component framework

a model of the components of an information system made up of computer hardware, software, data, procedures, and people

Information

knowledge derived from data, data presented in a meaningful context, processed data

Information Age

a period in history where the production, distribution, and control of information are the primary drivers of the economy

Information Systems

an assembly of hardware, software, data, procedures, and people that produces information

Information technology

refers to the products, methods, inventions, and standards used for the sole purpose of producing information

Kryder’s Law

the storage density on magnetic disks are increasing at an exponential rate

Management information systems

MIS or the management and use of information systems that help organizations achieve their strategies

Metcalfe’s law

the value of a network is equal to the square of the number of users connected to it

Moore’s law

the number of transistors per square inch on an integrated chip doubles every 18 months

Nielsen’s Law

network connections for high end users will increase by 50% per year

People

you, me, us, those using software/hardware and doing the procedures

Procedures

the methods you use to start a program, enter a report, print it, and save and back up your files

software

a program used, such as word, Microsoft Office, etc

strong password

has 12-14 characters, no usernames, real names, or company names, no real words, different from other passwords, uses upper/lowercase letters, numbers, and special characters

system

a group of components that interact to achieve some purposes

systems thinking

the ability to model the components of the system to connect the inputs and outputs among those components into a sensible whole that reflects the structure and dynamics of the phenomenon observed

technology skills gap

the mismatch between the high level of tech skills demanded by employers and the low level of tech skills held by employees

Goal of MIS

To help organizations achieve their strategies

Accurate, Timely, Relevant, Just barely sufficient, worth its cost

the five necessary data characteristics

Collaboration

a group of people working together to achieve a common goal via a process of feedback and iterationc

collaboration information system

an information system that supports collaboration

collaboration tool

the program component of a collaboration system

constructive criticism

both positive and negative advice given to improve an outcome

cooperation

a group of people working together, all doing essentially the same type of work, to accomplish a job

groupthink

a phenomenon in which the desire for group cohesion leads to poor decision making

iteration

a series of stages

managerial decision

decision about the allocation and utilization of resources

operational decision

decision that support operational, day-to-day activities

problem

a perceived difference between what is and what ought to be

project data

data that is part of the collaborations’s new work product

project metadata

data that is used to manage a product

strategic decisions

decisions that support broad-scope organizational issues

structured decisions

a decision for which there is an understood and accepted method for making the decision

unstructured decisions

a decision process for which there is no agree-on decision making method

Successful outcome, growth in team capability, meaningful and satisfying experience

the three criteria for successful collaboration

Become informed, make decisions, solve problems, manage projects

the four primary purposes of collaboration

activities

specific tasks that need to be accomplished as part of the process

actor

a person, group, department, organization, or information

business process

a network of activities that generate value by transforming inputs into outputs

business process modeling notation (BPMN)

an international standard of creating business process diagrams

competitive strategy

how an organization responds to the structure of its industry

cost

the cost of the inputs plus the cost of the activities

data flow

the labeled dashed lines in BPMN that represent the movement of data from one activity to another

first mover advantage

gaining market share by being the first to develop a new technology in a market segment, but doesn’t guarantee an advantage over rivals

five forces model

a model by porter that determines industry profitability by using bargaining power over customers, threat of substitution, bargaining power of suppliers, threat of new entrants, and rivalry

intelligent automation

the combination of using RPA to automate business processes, and using AI to improve decision making

linkages

interactions across value activities

low code systems

systems that require little to no programming to develop business applications

margin

the value of the outputs minus the cost

primary activities

business functions that relate directly to the production of the organization’s products or services

repository

a collection of data that is stored within the business process

robotic process automation (RPA)

using software robots to automate routine business processes

role

a subset of the activities in a business process that is performed by an actor

second mover advantage

gaining market share by following a pioneering company and imitating its product or service, thereby reducing costly R&D expenditures

sequence flow

the solid lines in BPMN that indicate the next flow of action

startup

a company that is in their initial stage of development

support activities

business functions that assist and facilitate the primary activities

switching costs

a practice of making it difficult or expensive for customers to switch to another product

swimlane format

a graphical arrangement in which all of the activities for a given role (job type) are shown in a vertical lane

unicorn

a tech company that reaches a $1 billion valuation in a short period of time

value

the amount of money a customer is willing to pay for a resource, product, or service

value chain

a network of value-creating activities

Industry wide, focus, cost, differentiation

Porter’s Four competitive strategies

Inbound logistics, operations/manufacturing, outbound logistics, sales and marketing, customer service

Primary Activities in the value chain

Procurement, technology, Human Resources, firm infrastructure

support activities in the value chain

Product implementation

1. create a new product or service
2. enhance products or services
3. differentiation of products or services

process implementations

1. lock in customers and buyers
2. lock in suppliers
3. raise barriers to market entry
4. reduce costs