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Chapter 1 THE INFORMATION AGE IN WHICH YOU LIVE Changing the Face of Business

Chapter 1 THE INFORMATION AGE IN WHICH YOU LIVE Changing the Face of Business. Presentation Overview. Today’s Economic Environment Information as a Key Resource People as a Key Resource Information Technology as a Key Resource Roles and Goals of Information Technology.

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Chapter 1 THE INFORMATION AGE IN WHICH YOU LIVE Changing the Face of Business

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  1. Chapter 1 THE INFORMATION AGE IN WHICH YOU LIVE Changing the Face of Business Management Information Systems for the Information Age

  2. Presentation Overview • Today’s Economic Environment • Information as a Key Resource • People as a Key Resource • Information Technology as a Key Resource • Roles and Goals of Information Technology Management Information Systems for the Information Age

  3. Opening Case StudyCan Technology Catch You Having An Affair? • Technology is pervasive, and often invasive. • How can technology be inadvertently used for “good” and “bad” purposes? Management Information Systems for the Information Age

  4. Introduction • Information age – a time when knowledge is power. • Knowledge worker – works with and produces information as a product. • Outnumber all other types of workers by a 4-to-1 margin. Management Information Systems for the Information Age

  5. Introduction • Management information systems(MIS) – deals with the planning for, development, management, and use of information technology tools to help people perform all tasks related to information processing and management. Management Information Systems for the Information Age

  6. Today’s Economic Environment • To be successful in today’s economic environment, you must: • Know your competition. • Know your customers. • Work closely with your business partners. • Know your organization inside and out. Management Information Systems for the Information Age

  7. Today’s Economic Environment The E.conomy • Electronic commerce – is commerce, but it is commerce accelerated and enhanced by information technology. • Telecommuting – the use of communications technologies to work in a place other than a central location. • Virtual Workplace – a technology-enabled workplace. No boundaries. Management Information Systems for the Information Age

  8. Today’s Economic Environment The E.conomy Percentage of Sites that Plan to Add Telecommuting Management Information Systems for the Information Age

  9. Today’s Economic Environment The “Now” Economy • Characterized by the immediate access customers have to the ordering of products and services. • An ATM is an example of a product in the “now” economy. Management Information Systems for the Information Age

  10. Today’s Economic Environment The “Now” Economy • M-commerce – electronic commerce conducted over a wireless device such as a cell phone or personal digital assistant. Team Work I Want It! (p. 7) Management Information Systems for the Information Age

  11. Today’s Economic Environment The Global Economy • Global economy – one in which customers, businesses, suppliers, distributors, and manufacturers all operate without regard to physical and geographical boundaries. • Transnational firms – produce and sell products and services in countries all over the world. Management Information Systems for the Information Age

  12. Today’s Economic Environment The Global Economy Management Information Systems for the Information Age

  13. Today’s Economic Environment The Arriving Digital Economy • Digital economy – marked by the electronic movement of all types of information including physiological information such as: • Voice recognition • Speech synthesization • Biometrics • Holograms Management Information Systems for the Information Age

  14. Information as a Key Resource • Information is one of the key components of management information systems. • We are in the “information” age, a time when knowledge is power. • Knowledge comes from information. Management Information Systems for the Information Age

  15. Information as a Key Resource Data Versus Information • Data – raw facts that describe a particular phenomenon. • Information – data that have a particular meaning within a specific context. Management Information Systems for the Information Age

  16. Information as a Key Resource Personal Dimensions of Information • The three personal dimensions of information include: • Time • Location • Form Management Information Systems for the Information Age

  17. Information as a Key Resource Personal Dimensions of Information • Time dimension • When you need it. • Specific time period. • Location dimension • No matter where you are. • Form dimension • Useable and understandable. • Free of errors. Management Information Systems for the Information Age

  18. Information as a Key Resource Organizational Dimensions of Information Management Information Systems for the Information Age

  19. Information as a Key Resource Organizational Dimensions of Information • Strategic management – provides overall direction and guidance. • Tactical management – develops the goals and strategies. • Operational management – manages and directs the day-to-day operations. • Nonmanagement employees – perform daily activities. Management Information Systems for the Information Age

  20. Information as a Key Resource Organizational Dimensions of Information • The four flows of information include: • Upward – describes the current state of the organization based on its daily transactions. • Downward – consists of the strategies, goals, and directives that originate at one level and are passed to lower levels. Management Information Systems for the Information Age

  21. Information as a Key Resource Organizational Dimensions of Information • Information flows continued • Horizontal – between functional business units and work teams. • Outward – information that is communicated to customers, suppliers, distributors, and other partners for the purpose of doing business. Management Information Systems for the Information Age

  22. Information as a Key Resource Organizational Dimensions of Information • Information granularity – refers to the extent of detail within the information. Management Information Systems for the Information Age

  23. Information as a Key Resource Organizational Dimensions of Information • What the information describes can include: • Internal information – specific operational aspects of the organization. • External information – the environment surrounding the organization. • Objective information – something that is known. • Subjective information – something that is unknown. Management Information Systems for the Information Age

  24. People as a Key ResourceInformation and Technology Literacy • The single most important resource in any organization is its people. • Technology-literate knowledge worker – a person who knows how and when to apply technology. Management Information Systems for the Information Age

  25. People as a Key ResourceInformation and Technology Literacy • Information-literate knowledge workers: • Define what information they need. • Know how and where to obtain information. • Understand the information. • Act appropriately based on the information to help the organization achieve the greatest advantage. Management Information Systems for the Information Age

  26. People as a Key ResourceYour Ethical Responsibilities • Ethics – the principals and standards that guide our behavior toward other people. • Ethics are different from laws as they are a matter of personal interpretation. • Ethics have a right and wrong outcome according to different people. Management Information Systems for the Information Age

  27. People as a Key ResourceYour Ethical Responsibilities • Hacker – very knowledgeable computer user who uses his or her knowledge to invade other people’s computers. Management Information Systems for the Information Age

  28. On Your Own E-Mail: Electronic Mail or Expensive Mail? (p. 16) People as a Key ResourceYour Ethical Responsibilities Management Information Systems for the Information Age

  29. Information Technology as a Key Resource • Information technology – any computer-based tool that people use to work with information and support the information and information-processing needs of an organization. Made up of: • Hardware – physical devices that make up a computer. • Software – set of instructions that the hardware executes to carry out a specific task. Management Information Systems for the Information Age

  30. On Your Own Identifying Hardware And Software (p. 19) IT as a Key ResourceKey Technology Categories • Hardware categories • Input devices • Output devices • Storage devices • Central processing unit • Random access memory • Telecommunications devices • Connecting devices Management Information Systems for the Information Age

  31. IT as a Key ResourceKey Technology Categories • Software categories • Application software • Operating system software • Utility software (See Figure 1.6 on page 18 for a complete overview of software categories.) Management Information Systems for the Information Age

  32. IT as a Key ResourceDecentralized Computing and Shared Information Management Information Systems for the Information Age

  33. IT as a Key ResourceDecentralized Computing and Shared Information • Decentralized computing – environment in which an organization splits computing power and locates it in functional business areas and on knowledge workers’ desktops. • Shared information – environment in which an organization’s information is organized in one central location. Management Information Systems for the Information Age

  34. Roles and Goals of Information Technology • Increase employee productivity • Enhance decision making • Improve team collaboration • Create business partnerships and alliances • Enable global reach • Facilitate organizational transformation Management Information Systems for the Information Age

  35. Roles and Goals of IT1 - Increase Employee Productivity • Online transaction processing (OLTP) – the gathering of input information, processing that information, and updating existing information to reflect the gathered and processed information. Management Information Systems for the Information Age

  36. Roles and Goals of IT1 - Increase Employee Productivity • Transaction processing system (TPS) – processes transactions that occur within an organization. • Customer-integrated system (CIS) – An extension of a TPS that places technology in the hands of an organization’s customers and allows them to process their own transactions. Management Information Systems for the Information Age

  37. Roles and Goals of IT1 - Increase Employee Productivity Management Information Systems for the Information Age

  38. Roles and Goals of IT2 - Enhance Decision Making • Online analytical processing (OLAP) – the manipulation of information to support decision making. • Artificial intelligence – the science of making machines imitate human thinking and behavior. • Neural network – an artificial intelligence that is capable of finding and differentiating patterns. Management Information Systems for the Information Age

  39. Roles and Goals of IT2 - Enhance Decision Making • Executive information system (EIS) – a highly interactive IT system that allows you to first view highly summarized information and then choose how you would like to see greater detail, which may alert you to potential problems or opportunities. Management Information Systems for the Information Age

  40. Roles and Goals of IT3 - Improve Team Collaboration • Collaboration system – designed specifically to improve the performance of teams by supporting the sharing and flow of information. • Groupware – software components that supports the collaborative efforts of a team. Management Information Systems for the Information Age

  41. Roles and Goals of IT3 - Improve Team Collaboration • Groupware contains support for: • Team dynamics • Document management • Group document database – acts as a powerful storage facility for organizing and managing all documents related to specific teams. • Applications development Management Information Systems for the Information Age

  42. Team Work Finding Business Partners and Alliances on The Web (p. 26) Roles and Goals of IT4 - Create Business Partnerships and Alliances • Interorganizational system (IOS) – automates the flow of information between organizations to support the planning, design, development, production, and delivery of products and services. Management Information Systems for the Information Age

  43. Roles and Goals of IT4 - Create Business Partnerships and Alliances • Electronic data interchange (EDI) – the direct computer-to-computer transfer of transaction information contained in standard business documents, such as invoices and purchase orders, in a standard format. Management Information Systems for the Information Age

  44. Roles and Goals of IT5 - Enable Global Reach • Business today is global business. • Culture – the collective personality of a nation or society, encompassing language, traditions, currency, religion, history, music, and acceptable behavior, among other things. Management Information Systems for the Information Age

  45. Roles and Goals of IT6 - Facilitate Organizational Transformation • Organizational transformation is necessary to respond to the ever-changing needs (and wants) of today’s marketplace. • Blockbuster now provides movies on a pay-per-view rental basis through cable. Management Information Systems for the Information Age

  46. Closing Case Study One You and Your Information • Information travels with you and is captured and stored by a number of organizations. • Trust and accuracy of information is important. • Do you trust organizations to maintain accurate information about you? Management Information Systems for the Information Age

  47. Closing Case Study TwoHow Much of Your Personal Information Do You Want Businesses to Know? • Businesses need information about you to provide the best possible products and services. • How much of your information do you want others to be able to access? Management Information Systems for the Information Age

  48. Summary Student Learning Outcomes • Describe the information age and the role of knowledge workers within it. • Define management information systems (MIS). • Describe key factors shaping today’s economic environment. • Validate information as a key resource and describe both personal and organizational dimensions of information. Management Information Systems for the Information Age

  49. Summary Student Learning Outcomes • Define how people are the most important organizational resource, their information and technology literacy challenges, and their ethical responsibilities. • Describe the important characteristics of information technology (IT) as a key organizational resource. • List and describe the six roles and goals of information technology in any organization. Management Information Systems for the Information Age

  50. Summary Assignments & Exercises • Surveying the global economy • Finding trust in TRUSTe • Reporting on Internet statistics by business sector • Learning about an MIS major • Reviewing the 100 best companies to work for • Redefining business operations through IT innovation Management Information Systems for the Information Age

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