science
Abhay
Terms
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- Accurate information
- good information
- Primary activities
- Main activities that improve margin
- MIS
- development and use of information systems that help businesses achieve their goals and objactives
- Competitive strategy
- strategy that gives an industry a competitive edge
- Resources
- items of value
- Activity
- transform resources and informaiton of one type into resources and information of another type
- Linkages
- interactions across value activities
- Information
- knowledge derived from data
- Five forces model
- determines industry profitability: bargaining power of customers, threat of substitution, bargaining power of suppliers, threat of new entrants, rivalry
- Switching costs
- cost of switching
- Information System
- group of components that interact to produce information
- Value chain
- network of value-creating systems
- Timely information
- good information produced in time for its intended use
- Facilities
- structures used within the business process
- Business process
- network of activities,resources, facilities, and information that interact to achieve some business function
- Information technology
- methods, inventions, standards, and products
- Business system
- Business process
- Five-component framework
- computer hardware, software, data, procedures, people
- Automated system
- business process handled by computers that now do the work the people used to do
- Sufficient information
- right for the purpose for which it is generated, but just barely so
- Margin
- net benefit
- Manual system
- system done by hand by people
- Moore's Law
- number of transistors per square inch on an integrated chip doubles every 18 months
- Worth-its-cost information
- appropriate relationship between the cost of information and its value
- Support activities
- Supports primary activities
- Just-barely-sufficient information
- Information that is beneficial in the least amount possible to be efficient
- Relevant information
- ties in both context and the subject