Organization

Technology

Management

Data- stored representation of meaningful objects/events (i.e. numbers, text, images, video, POS data)

Information- the data is processed to increase knowledge in the person using it

-Hierarchy of authority (operational, middle, and senior management)

-Business functions (sales and marketing, human resources, finance/accounting, manu & production)

-Business Processes

-Strategy/Planning

-Controlling

-Coordinating

-Decision Making

-Hardware and software

-Data mgmt technology

-Networking and telecommunications tech (internet)

IT= the handling of information using computers

IS= how firms utilitize IT to create business value

General Purpose Technology

Technologies that can drastically alter society at a global level through their impact on preexisting economic and social structures

(i.e. railroads, electricity, IT)

1. Operational Excellence (> efficiency =  >profit)

2. New products, services, and business models

3. Customer and supplier intimacy (serving customers

better means more $, better comm w/ suppliers lowers $)

4. Improved decision making

-Serve operational mgmt

-perform and record routine transactions

-ex. sales order entry, payroll, shipping

-Serve middle management

-provide reports based on data from TPS

-provide answers to routine questions with predefined procedure for answering them

-Serve middle mgmt

-Support non-routine decision making

-Ex: what is the impact of x if y were doubled?

-Serves senior mgmt

-addresses non-routine decisions

-requires a lot of thought

-incorporates data about external events with info from internal MIS and DSS

-incorporates TPS, MIS, DSS, and ESS into 1 system

-resolves problems of fucked up or redundant data

-Enables coordination

-Stores info in one central database

-Manages firms relationship with suppliers

-Shares info about orders, production, inventory levels, delivery of products

-GOAL: right amount of products to destination with lowest time and cost

-Gets info on customers in sales, marketing, and service to optimize revenue, customer satisfaction

-integrate the firms customer related processes

-Aims to acquire, create, store, distribute, apply, and integrate all the company's knowledge

-Collect knowledge within firm and make available to all employees

-Operational Excellence

-Product Leadership

-Customer Intimacy

-Views firms as series of activites that add value to products or services

-highlights activities where competitive strategies can best be applied

-Determine how IS can improve operational efficiency and improve customer and supplier intimacy

-Utilize benchmarking, industry best practices

1. Entrants

2. Buyers

3. Suppliers

4. Substitutes

5. Competitors

-Resources: tangible and intangible assets of a firm

-Capabilities: subset of resources that enable a firm to take advantage of other resources

-Financial

-Physical

-Human

-Organizational

ECommerce= the process of buying, selling, or exchanging products, services, or info via computer

EBusiness= broader defintion of EC, not just buying and selling but also servicing customers , collaborating with business partners, and conducting electronic transactions

-Brick and mortar: physical products through physical stores

-Virtual (pure-play): business solely online

-Click and mortar: conduct some e-commerce some not

B2B

B2C

C2C

Transaction  fees

Subscription fees

Advertising fees

Affiliate fees

Sales

-Social Networks

-Lets users share information in whole new ways!

auctioneer raises price higher until one bidder remains

Everyone bids on multiples of the same item, the top bidders of that many items paid what they bid

(think of James' iPod story)

An online futures market where contract payoffs are based on real world events (ie political outcomes, stock prices, etc)

It's essentially a nonprofit game that academia uses