Managerial Applications of Information Technology
Professor: Mark Martinez
Terminal Course Objectives: TCO’s
Week 1: Information Systems in the Digital Firm .
* Explain why information technologies and systems are so essential in business today.
The emergence of a global economy, transformation of industrial economies, transformation of the business enterprise, and the emergence of digital firm make information systems essential in business today. Information system is a foundation for conducting business today. In many businesses, survival and the ability to achieve strategic business goals is difficult without extensive use of information technology. There are three reasons or objectives why businesses use information system:
1. Operational excellence. Business improves the efficiency of their operations in order to achieve higher profitability. Information systems are important tools available to managers for achieving higher levels of efficiency and productivity in business operations.
2. New products, services, and business models. Information system is a major tool for firms to create new products and services, and also an entirely new business models. A business model describes how a company produces, delivers, and sells a product or service to create wealth.
3. Customer/supplier intimacy. When a business serves its customers well, the customers generally respond by returning and purchasing more. this raises revenue and profits. The more a business engages its suppliers, the better the suppliers can provide vital inputs.
* Define information systems from both technical and business perspectives.
* Identify and describe the three dimensions of information system technologies.
* Assess the complementary assets required for information technology to provide value to a business.
* Identify and describe contemporary approaches to the study of information systems and distinguish between computer...