Executive information system - A system that facilitates and supports senior
managerial decisions.
Data - Unorganized data that lacks
... [Show More] meaning.
Information - Data that has been organized in a meaningful manner.
Information system - An integrated network of components working together to
convert data into useful information; includes an input, a process, and an output;
comprised of people, processes, machines, and information technology.
Knowledge - The practical application of information.
Data, Information, and Knowledge example - Data: The number of people below the
poverty line in the region is 50,000.
Information: The number of people below the poverty line increases between 2010
and 2018.
Knowledge: The number of people below the poverty line has increased due to
stagnating wages and cuts to social programs.
Decision support system - This system uses models and statistical analysis to help
decision makers solve problems
Management information system (MIS) - Provides timely and accurate information
that enables managers to manage their departments more efficiently; analyzes
performance.
Transaction processing system - information system used for processing patient
admissions, employee time cards, and purchase orders
Information management - The management of organizational processes and
systems; helps the organization reduce costs and adds value to products; helps the
organization make better managerial decisions; stores and processes data.
Information technology - The use of computer and telecommunications systems for
storing, retrieving, and sending information; comprised of hardware, software, data,
and networks.
information technology management - the management of hardware, software, data,
networks, and people that facilitate access to information and allow the organization
to achieve business objectives.
Strategic information system - provide tools used by an organization to accomplish
specific tasks to gain competitive advantage.
Social Networking and interpersonal skills. - Enhances interpersonal and
relationship-forming skills.
Porters 5 competitive forces - Intensity competitive rivalry
bargaining power of customers
bargaining power of suppliers
threat of new entrants
threat of substitutes
Network economics (network-based strategy) - the cost of adding another business
participant to a business venture is small, the potential gain is great.
Business ecosystems - Network of businesses involved in delivering a product
through mutual cooperation.
Product differentiation (business strategy) - offering a higher quality product to
differentiate from others in the market
growth (business strategy) - adding new products or new enhancements to existing
products
Enterprise Resource Planning (ERP) - Involves utilizing computer technology to link
various aspects of a business; a very complex resource planning system that spans
the entire business; companies often have difficulty implementing the system.
Customer Relationship Management (CRM) - Allows for personalized
communication to customers.
Knowledge Management (KM) - These systems provide tools to help manage
organizational knowledge and create value to meet business requirements and
strategic goals.
chief executive officer (CEO) - also called president or managing director, is
responsible for the success or failure of the company, creating the company culture,
selecting the senior management team, setting strategy and vision, and selecting
projects to fund.
chief operations officer (COO) - is the director of operations, responsible for the
oversight of internal operations on a day-to-day basis and for monitoring production
quotas
chief financial officer (CFO) - manages the company's cash flow and evaluates and
communicates financial risks.
chief information officer (CIO) - a business leader who analyzes internal business
processes such as payroll and billing, reshapes the physical infrastructure and
network purchases to meet business goals, and leads the workforce to implement
critical IT internal projects; responsible for information systems strategic thinking and
planning. [Show Less]