Untitled Flashcards Set

Organizational Strategy: The plan of action designed to achieve long-term goals and objectives of an organization.

Information Systems Structure: The framework and components that make up an organization's information systems, including hardware, software, data, and processes.

Five Forces Model: A framework developed by Michael Porter to analyze the competitive forces within an industry: competition from existing rivals, new entrants, substitutes, bargaining power of suppliers, and bargaining power of customers.

Competitive Strategy: The approach a company takes to gain a competitive advantage over its rivals, such as cost leadership, differentiation, or focus strategies.

Value Chain: The series of activities that a company performs to deliver a valuable product or service to the market, including primary and support activities.

Business Processes: A set of structured activities or tasks that produce a specific service or product for a particular customer or market.

Competitive Advantage: The ability of a company to outperform its competitors by offering greater value, either through lower prices or by providing greater benefits and service.

Bargaining Power of Customers: The ability of customers to influence the price and terms of purchase.

Bargaining Power of Suppliers: The ability of suppliers to influence the price and terms of supply.

Threat of Substitutes: The risk that customers will switch to alternative products or services.

Threat of New Entrants: The risk of new competitors entering the market and increasing competition.

Cost Leadership: A competitive strategy where a company aims to be the lowest-cost producer in the industry.

Differentiation: A competitive strategy where a company offers unique products or services that are valued by customers.

Focus Strategy: A competitive strategy where a company targets a specific market segment or niche.

Primary Activities: In the value chain, these are the activities directly involved in the creation, sale, and delivery of a product or service (e.g., inbound logistics, operations, outbound logistics, marketing, and service).

Support Activities: In the value chain, these are the activities that support the primary activities (e.g., procurement, technology development, human resource management, and firm infrastructure).

Margin: The difference between the value created by the value chain and the cost of performing the value activities.

Business Process Reengineering: The redesign of business processes to achieve significant improvements in performance, such as cost, quality, service, and speed.

Information Systems Competitive Advantage: The use of information systems to achieve a competitive edge, such as through innovation, customer lock-in, or cost reduction.

Switching Costs: The costs that a customer incurs when switching from one supplier or product to another.

Lock-in: A strategy where customers become dependent on a product or service and face high switching costs if they try to switch to a competitor.

Barriers to Entry: Obstacles that make it difficult for new competitors to enter a market, such as high capital requirements or strong brand loyalty.

Alliances: Strategic partnerships between companies to achieve mutual benefits, such as sharing resources or entering new markets.

Augmented Reality (AR): A technology that overlays digital information onto the physical world, enhancing the user's perception of reality.

Self-Driving Cars: Autonomous vehicles that use sensors, cameras, and AI to navigate and drive without human intervention.

3D Printing: A manufacturing process that creates three-dimensional objects by layering material based on a digital model.

Internet of Things (IoT): A network of physical objects embedded with sensors, software, and other technologies to connect and exchange data with other devices and systems over the internet.

Hacking Smart Things: The unauthorized access or manipulation of IoT devices, which can pose security risks.

Amazon of Innovation: A case study highlighting Amazon's innovative strategies, such as its online retailing, order fulfillment, and cloud services.

Business Process Management (BPM): The discipline of managing and improving business processes to achieve organizational goals.

Business Process Modeling Notation (BPMN): A graphical representation of business processes using standardized symbols and diagrams.

Systems Development Life Cycle (SDLC): A structured approach to developing information systems, typically involving phases such as planning, analysis, design, implementation, and maintenance.

Scrum: An agile framework for managing complex projects, emphasizing iterative progress, collaboration, and flexibility.

Rapid Application Development (RAD): A software development methodology that emphasizes rapid prototyping and iterative development.

Unified Process (UP): An iterative and incremental software development framework that focuses on architecture and risk management.

Extreme Programming (XP): An agile software development methodology that emphasizes customer satisfaction, continuous feedback, and frequent releases.

Agile Development: A set of principles for software development under which requirements and solutions evolve through collaborative effort.

Work Breakdown Structure (WBS): A hierarchical decomposition of the total scope of work to be carried out by the project team.

Gantt Chart: A bar chart that illustrates a project schedule, showing the start and finish dates of various elements of the project.

Configuration Control: The process of managing and controlling changes to the project's scope, schedule, and resources.

Diseconomies of Scale: The increase in per-unit costs as the scale of production increases beyond a certain point.

Brooks' Law: The observation that adding more people to a late software project makes it later, due to increased communication overhead and training time.

Unexpected Events: Unforeseen occurrences that can impact the project, such as changes in management, technology, or market conditions.

Product Owner: In Scrum, the person responsible for defining the product backlog and ensuring the team delivers value to the customer.

Scrum Master: In Scrum, the facilitator who ensures the team follows Scrum practices and removes obstacles to progress.

Team Members: In Scrum, the individuals who perform the work of delivering the product increment.

Velocity: In Scrum, a measure of the amount of work a team can complete in a single sprint.

Sprint: In Scrum, a time-boxed period (usually 1-4 weeks) during which a specific set of work is completed and made ready for review.

Backlog: In Scrum, a prioritized list of tasks or features that need to be completed in a project.

Stand-Up Meeting: A short, daily meeting in Scrum where team members discuss progress, plans, and obstacles.

Iterative Development: A development approach where the project is broken into small increments, with each increment being developed and tested in iterations.

Incremental Development: A development approach where the product is developed in small, usable increments, with each increment adding new functionality.

SOA (Service-Oriented Architecture): A software design approach where services are provided to other components via a communication protocol over a network.

Web Services: A standardized way of integrating web-based applications using open standards such as XML, SOAP, and WSDL.

Singularity: A hypothetical point in the future when artificial intelligence surpasses human intelligence, leading to rapid technological growth.

Development Disasters: Large-scale failures in software development projects, often due to poor planning, mismanagement, or unrealistic expectations.

Global Competition: The competition among businesses operating on an international scale, driven by factors such as cost, quality, and innovation.

Information Revolution: The rapid increase in the use of information and communication technologies (ICT) to create, deliver, and use information.

Knowledge Worker: An employee whose primary role involves the creation, analysis, and dissemination of information and knowledge.

Business Processes: A series of steps or activities that take inputs and convert them into desired outputs, such as products or services.

Functional Organizational Structure: A traditional organizational structure where employees are grouped by function (e.g., sales, marketing, finance).

Process View: An organizational perspective that focuses on the flow of activities across functions to deliver value to customers.

Silo Effect: The lack of communication and collaboration between different functional areas in an organization, leading to inefficiencies.

Delays: The time lags that occur in business processes, often due to poor coordination or communication between functions.

Excess Inventory: The accumulation of more inventory than needed, often due to delays or inefficiencies in the supply chain.

Paper-Based Processes: Business processes that rely on physical documents and manual handling, often leading to delays and errors.

Functional Systems: Information systems that support a single functional area, such as sales or finance, but lack integration with other functions.

Enterprise Systems: Integrated information systems that support business processes across the entire organization, improving efficiency and visibility.

Physical Flow: The movement of physical goods or materials through a business process.

Data Flow: The movement of data through a business process, often captured and stored in information systems.

Document Flow: The movement of documents (e.g., purchase orders, invoices) through a business process.

Information Flow: The movement of information through a business process, often used for decision-making and monitoring.

Enterprise Resource Planning (ERP): A type of enterprise system that integrates core business processes, such as finance, HR, and supply chain management.

Supply Chain Management (SCM): The management of the flow of goods and services, including the movement and storage of raw materials, work-in-process inventory, and finished goods.

Customer Relationship Management (CRM): A system for managing a company’s interactions with current and potential customers, often using data analysis to improve business relationships.

Product Lifecycle Management (PLM): The process of managing the entire lifecycle of a product from inception, through design and manufacture, to service and disposal.

Best of Breed: A strategy where a company selects the best software applications for each functional area, rather than using a single integrated system.

Niche Applications: Software applications designed for specific industries or specialized business functions.

Software as a Service (SaaS): A software distribution model where applications are hosted by a vendor and made available to customers over the internet.

Organizational Data: Data that defines the structure of an organization, such as company hierarchy, divisions, and reporting relationships.

Master Data: Core data that is essential for business operations, such as customer, product, and vendor information.

Transaction Data: Data generated from day-to-day business transactions, such as sales orders, purchase orders, and production orders.

Procurement Process: The process of acquiring goods and services from external suppliers, including activities such as requisitioning, purchasing, and payment.

Fulfillment Process: The process of fulfilling customer orders, including activities such as order processing, shipping, and invoicing.

Production Process: The process of transforming raw materials into finished products, including activities such as production planning, manufacturing, and quality control.

Integrated Processes: Business processes that span multiple functional areas and are supported by integrated enterprise systems.

Human Capital Management (HCM): The process of managing an organization’s workforce, including recruitment, performance management, and employee development.

Asset Management: The process of managing an organization’s physical and financial assets, including acquisition, maintenance, and disposal.

Supply Chain Event Management: The process of monitoring and managing events in the supply chain to ensure timely and efficient delivery of goods.

Supplier Relationship Management (SRM): The process of managing interactions with suppliers to optimize value and reduce costs.

Product Lifecycle Data Management: The process of managing data related to the lifecycle of a product, from design to disposal.

Customer Relationship Data Management: The process of managing data related to customer interactions and relationships to improve customer satisfaction and loyalty.

Enterprise Systems (ES): Integrated software applications that support business processes across the entire organization, such as ERP, SCM, and CRM systems.

ERP (Enterprise Resource Planning): A type of enterprise system that integrates core business processes, such as finance, HR, and supply chain management.

SCM (Supply Chain Management): A system for managing the flow of goods and services, including the movement and storage of raw materials, work-in-process inventory, and finished goods.

SRM (Supplier Relationship Management): A system for managing interactions with suppliers to optimize value and reduce costs.

CRM (Customer Relationship Management): A system for managing a company’s interactions with current and potential customers, often using data analysis to improve business relationships.

PLM (Product Lifecycle Management): A system for managing the entire lifecycle of a product from inception, through design and manufacture, to service and disposal.

Best of Breed: A strategy where a company selects the best software applications for each functional area, rather than using a single integrated system.

Niche Applications: Software applications designed for specific industries or specialized business functions.

Software as a Service (SaaS): A software distribution model where applications are hosted by a vendor and made available to customers over the internet.

Organizational Data: Data that defines the structure of an organization, such as company hierarchy, divisions, and reporting relationships.

Master Data: Core data that is essential for business operations, such as customer, product, and vendor information.

Transaction Data: Data generated from day-to-day business transactions, such as sales orders, purchase orders, and production orders.

SAP: A leading provider of enterprise software, including ERP, SCM, and CRM systems.

SAP ERP Solution Map: A graphical representation of the various modules and functionalities offered by SAP’s ERP system.

SAP Supply Chain Management: A module within SAP’s ERP system that supports supply chain processes, such as demand planning, procurement, and logistics.

SAP Product Lifecycle Management: A module within SAP’s ERP system that supports product lifecycle processes, such as product development, quality management, and compliance.

SAP Customer Relationship Management: A module within SAP’s ERP system that supports customer relationship processes, such as sales, marketing, and customer service.

Super Skateboard Builders, Inc.: A hypothetical company used as a case study to illustrate the use of enterprise systems in business processes.

Procurement Process: The process of acquiring goods and services from external suppliers, including activities such as requisitioning, purchasing, and payment.

Purchase Requisition: A document that initiates the procurement process, specifying the goods or services needed.

Purchase Order (PO): A document that formalizes the agreement to purchase goods or services from a supplier, specifying the terms and conditions of the purchase.

Packing List: A document that accompanies a shipment, detailing the contents of the shipment.

Goods Receipt Document: A document that records the receipt of goods from a supplier, verifying the quantity and condition of the goods received.

Vendor Invoice: A document sent by a supplier requesting payment for goods or services provided.

Three-Way Match: A process in procurement where the purchase order, goods receipt document, and vendor invoice are compared to ensure accuracy before payment is made.

Instance-Level Information: Detailed information about a specific instance of a process, such as the status of a purchase order.

Process-Level Information: Aggregate information about the overall performance of a process, such as the average time to complete a procurement cycle.

Financial Impact: The effect of a business process on the financial statements, such as changes in inventory, accounts payable, or cash flow.

Fulfillment Process: The process of fulfilling customer orders, including activities such as order processing, shipping, and invoicing.

Customer Inquiry: A request from a customer for information about a product or service.

Quotation: A document provided to a customer in response to an inquiry, detailing the price and terms of a potential sale.

Customer Purchase Order: A document from a customer formalizing the agreement to purchase goods or services, specifying the terms and conditions of the purchase.

Sales Order: A document created by the seller to confirm the details of a customer’s purchase order.

Picking Document: A document used in the warehouse to guide the picking of items for a customer order.

Packing Document: A document that accompanies a shipment, detailing the contents of the shipment.

Customer Invoice: A document sent to a customer requesting payment for goods or services provided.

Customer Payment: The receipt of payment from a customer for goods or services provided.

Instance-Level Information: Detailed information about a specific instance of a process, such as the status of a customer order.

Process-Level Information: Aggregate information about the overall performance of a process, such as the average time to fulfill customer orders.

Production Process: The process of transforming raw materials into finished products, including activities such as production planning, manufacturing, and quality control.

Bill of Material (BOM): A document that lists the components and quantities needed to produce a finished product.

Work Center: A location where specific tasks or operations are performed in the production process.

Product Routing: A document that defines the sequence of operations and work centers required to produce a product.

Production Capacity: The maximum output that a production facility can achieve under normal operating conditions.

Planned Order: A document that initiates the production process, specifying the quantity and timing of production.

Production Order: A document that formalizes the agreement to produce a specific quantity of a product, specifying the terms and conditions of production.

Material Withdrawal Slip: A document used to withdraw raw materials from inventory for use in production.

Goods Receipt Document: A document that records the receipt of finished goods into inventory, verifying the quantity and condition of the goods received.

Instance-Level Information: Detailed information about a specific instance of a process, such as the status of a production order.

Process-Level Information: Aggregate information about the overall performance of a process, such as the average time to complete a production cycle.

Integrated Processes: Business processes that span multiple functional areas and are supported by integrated enterprise systems.

Intra-Organizational Processes: Processes that occur within a single organization, such as procurement, fulfillment, and production.

Inter-Organizational Processes: Processes that span multiple organizations, such as supply chain management and customer relationship management.

End-to-End Processes: Processes that cover the entire lifecycle of a product or service, from initial customer inquiry to final delivery and payment.

Human Capital Management (HCM): The process of managing an organization’s workforce, including recruitment, performance management, and employee development.

Asset Management: The process of managing an organization’s physical and financial assets, including acquisition, maintenance, and disposal.

Supply Chain Management (SCM): The management of the flow of goods and services, including the movement and storage of raw materials, work-in-process inventory, and finished goods.

Supplier Relationship Management (SRM): The process of managing interactions with suppliers to optimize value and reduce costs.

Product Lifecycle Management (PLM): The process of managing the entire lifecycle of a product from inception, through design and manufacture, to service and disposal.

Customer Relationship Management (CRM): A system for managing a company’s interactions with current and potential customers, often using data analysis to improve business relationships.

Artificial Intelligence (AI): Computer systems that can perform tasks that typically require human intelligence, such as problem-solving, learning, decision-making, and understanding natural language.

Large Language Model (LLM): A type of AI designed to process and generate human-like text, trained on massive amounts of data.

Generative Pretrained Transformer (GPT): A type of LLM that generates human-like text using the transformer architecture.

AI Value Creation: The economic value generated by AI technologies, estimated to be in the trillions of dollars by 2033.

Artificial Narrow Intelligence (ANI): AI systems designed to perform specific tasks, such as smart speakers, self-driving cars, and web search.

Generative AI: AI systems that can generate new content, such as text, images, or music, based on input data.

Artificial General Intelligence (AGI): AI systems that can perform any intellectual task that a human can do, representing a level of intelligence comparable to human intelligence.

AI Traps: Potential pitfalls or risks associated with AI, such as bias, ethical concerns, and unintended consequences.

AI in Retail: The use of AI technologies in the retail industry to improve customer experience, optimize inventory, and enhance supply chain management.

AI in Healthcare: The use of AI technologies in healthcare to improve diagnosis, treatment, and patient care.

AI in Manufacturing: The use of AI technologies in manufacturing to optimize production processes, improve quality control, and reduce costs.

AI in Agriculture: The use of AI technologies in agriculture to improve crop yields, optimize resource use, and enhance sustainability.

AI in Transportation: The use of AI technologies in transportation to improve logistics, optimize routes, and enhance safety.

AI in Finance: The use of AI technologies in finance to improve risk management, optimize investment strategies, and enhance customer service.

AI in Education: The use of AI technologies in education to personalize learning, improve student outcomes, and enhance administrative efficiency.

AI in Energy: The use of AI technologies in the energy sector to optimize energy production, improve grid management, and enhance sustainability.

AI in Telecommunications: The use of AI technologies in telecommunications to improve network management, enhance customer service, and optimize resource allocation.

AI in Government: The use of AI technologies in government to improve public services, enhance decision-making, and optimize resource allocation.

AI in Entertainment: The use of AI technologies in the entertainment industry to create personalized content, improve user experience, and enhance content production.

AI in Security: The use of AI technologies in security to enhance threat detection, improve surveillance, and optimize response strategies.