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BADM 7050
Test 1
26
Business
Graduate
10/05/2011

Additional Business Flashcards

 


 

Cards

Term
Information Resource
Definition
the available data, technology, people, and processes available to perform business processes and tasks.
Term
IT asset
Definition
anything, tangible or intangible, that can be used by a firm in its processes for creating, producing and/or offering its products (IT infrastructure is an asset).
Term
IT capability
Definition
something that is learned or developed over time in order for the firm to create, produce or offer it products.
Term
Information repository
Definition
Logically-related data that is captured, organized and retrievable by the firm
Term
IS infrastructure
Definition
includes data, technology, people, and processes
Term
CRM includes
Definition
management activities performed to obtain, enhance relationships with, and retain customers.
Term
CRM can lead to
Definition
better customer service, which leads to competitive advantage for the business.
Term
Supply Chain Management
Definition
An approach that improves the way a company finds raw components it needs to make a product or service, manufactures that product or service, and delivers it to customers.
Term
Strategic Alliances
Definition
An interorganizational relationship that affords one or more companies in the relationship a strategic advantage
Term
Potential Risks
Definition
Awakening a sleeping giant; Demonstrating bad timing; Implementing IS poorly; Failing to deliver what users what; Web-based alternative removes advantages; Running afoul of the law
Term
silo perspective
Definition
the business as discrete functions (accounting, sales, production, etc.).
Term
Advantages to Silo Perspective
Definition
Allows optimization of expertise.
Group like functions together for learning.
Term
DisAdvantages to Silo Perspective
Definition
Significant sub-optimization.
Tend to lose sight of overall organizational objectives.
Term
Process Perspective
Definition
Process is defined as an interrelated, sequential set of activities and tasks that turns inputs into outputs
Term
Advantages to Process Perspective
Definition
Helps avoid or reduce duplicate work.
Facilitate cross-functional communication.
Optimize business processes.
Term
Total Quality Management
Definition
a tool for change that uses small incremental changes
Term
Six Sigma
Definition
It seeks to eliminate defects from any process
Term
Business Process Reengineering (BPR)
Definition
Radical answer to TQM. Often not fully accepted by personnel.
Term
The different approaches for radical redesign all include
Definition
Begin with a vision of which performance metrics best reflect the success of overall business strategy.
Make changes to the existing process.
Measure the results using the predetermined metrics.
Term
Risks of Radical Redesign
Definition
Lack of senior management support.
Lack of a coherent communications program.
Introducing unnecessary complexity into the new process design.
Introducing unnecessary complexity into the new process design.
Combining reengineering with downsizing
Term
Agile processes
Definition
processes that iterate through a constant renewal cycle of design, deliver, evaluate, redesign, and so on
Term
Horizontal integration
Definition
term for looking beyond individual business processes and considering the bigger, cross functional picture of the corporation.
Term
Enterprise Systems
Definition
A set of information systems tools used to enable information flow within and between processes.
Term
Characteristics of Enterprise Systems
Definition
Integration – seamlessly integrate information flows throughout the company.
Packages – they are commercial packages purchased from software vendors (like SAP, Oracle, Peoplesoft, etc.).
Best practices – reflect industry best practices.
Some assembly required – the systems need to be integrated with the existing hardware, OS’s, databases, and telecommunications.
Evolving – the systems continue to change to fit the needs of the diverse marketplace.
Term
Benefits of Enterprise System
Definition
All modules easily communicate together.
Useful tools for centralizing operations and decision making.
Can reinforce the use of standard procedures.
Term
Disadvantages to Enterprise System
Definition
Implementation is an enormous amount of work.
Most require some level of redesigning business processes.
Hefty price tag (sold as a suite).
They are risky.
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