MIS EXAM !

Knowledge Workers

Value created through ideas and information

Success measured by impact of insights

Skills focused on analysis and creativity

Traditional Worker

Value created through production

Success measured by output

Skills focused on technical operation

digital divide

the advantage those with access to information systems have compared to those without access.

What impact has the digital divide had>

Education, World events, Limitations on work

Digital Density

The number of people connected digitally

Digital Density Impact

Value-added interactions, innovative business models

Digital density Compound

More network value increases exponentionally

IOT

The ability for physical objects to relay data to each other without human interaction, increasing the network of data

Is Systems

Hardware, People, Software, Data, Procedures

Data Collection

Information systems gather raw data from various sources

Data orginization

Systems organize and store data in accesible formats

Data synthesis

Anaylsis transforms data into actionable insights

Purpose

Find value and gain competitive advantage

Data vs Knowledge

Raw facts vs Information used for understanding and decision making

what precent of data has been created in the last 2 years

90%

Information

Is refined data that has been sorted and organized

Organizational Levels

Strategic, Tactical, Operational

Strategic

Executives, i.e future plans

Tactical

Middle Managers. Regional managers

Operational

Team leads

How does IS impact the operational level

Procces autonamation - Real time info - Audit Trails

How does IS impact the tactical level

Preforamance monitoring process optimization resource planning

How does IS impact the Strategic level

Market intelligence, strategic foresight, RIsk mitigation

Porters 5 competitive forces

Competitive rivalry, Threat of substitution, Bargaining power of buyers, Threat of new entrants, Bargaining power of suppliers

Competitive rivalry

Factors like number of competitors and industry growth rate

Threat of new entry

How easy it is for new competiton to enter your market

Higher barrier to entry

A companys threat of new entry is low if the market has a high barrier to entry. i.e. Sams club/Large grocery stores

Buyer Power

The ability of the buyer to impact price or quality

Supplier Power

Suppliers gain power if they can increase prices eaisly

Determinants of supplier power

if suppliers have little competition they have higher supplier power

Threat of substituiton

is the product unique?

Porters Generic Strategies

Cost Leadership, Differentiation, Cost Focus, Differentiation Focus

Cost Leadership

Become the lowest cost producer in the industries.

Ways to achieve cost leadership

Efficient Production, Economies of scale

Differentiation

Making your product unique

Cost Focus

Looking for a niche market

Differentiation Focus

Higher cost nice markets

Three competitive strategies

Leadership Cost differentation

What creates the need for IS?

A competitve edge over competitors, a adaptation to technology, a change in effiency

Strategic alignment

Does adding the technology enable competitive strategy

Orginizational Readiniess

Do you have the ability to implement succesfully

Value Creation

Does this create measurable business value

Risk vs Reward

is implementing said technology worth the risk

Why is strategic Fit important

It can decide whether or not a new technology is worth adapting into your current business

Value proposition

The products or services that solve customer problems or satisfy their needs

Customer segments

The different groups of people or organizations a business aims to reach and serve

Revenue model

The way a company generates income from each customer segment