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Lecture Exam 2 Study Guide Material Type: Notes; Professor: Anderson; Class: THE COMPUTER IN BUSINESS; Subject: Business; University: Indiana University - Bloomington; Term: Fall 2011;
Typology: Study notes
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Material Covered
Information & Knowledge Data Information Knowledge *Data = Raw facts *Information = Data with organization, meaning, and relevance *Knowledge = Applied Information Decisions based on Information can lead to competitive advantage Knowledge Management Knowledge Management Systems – Collect, Organize, Maintain, and Distribute: Human Capital/Tacit Knowledge Intellectual Assets/Explicit Knowledge Intellectual Property
Knowledge Management Challenges Costly (time consuming + resources) Must overcome people’s natural resistance Employees prefer competition Must create Corporate Structure Texas Instruments Story: 13 semiconductor manufacturing facilities. Each facility excelled in certain areas. The procedures from these areas were shared with all other plants. This allowed production to be increased to a level where an additional plant would have been needed under the old system without KM. Texas Instruments saved $1 billion dollars.
Enterprise Information Systems (EIS) Supply Chain Management (SCM) Customer Relationship Management (CRM) Enterprise Resource Planning (ERP)
Material Covered
Developing Software - Consequences of software Success and Failure: Increase or Decrease Revenue Repair or Damage Reputation Prevent or Incur Liabilities Increase or Decrease Productivity
Traditional Waterfall Methodology Agile Software Development Traditional approach Each SDLC phase performed sequentially Doesn’t accommodate midcourse changes Success Rate: 1 in 10 Iterative Continuous Delivery to Clients Get rapid feedback as functionality is introduced Fewer features, shorter projects
The SWOT Matrix
Why Use Decision-Making Information Systems? (DMIS) Analyze Large Amounts of Info Make Decisions Quickly Apply Sophisticated Analysis Techniques Protect the Corporate Asset of Organizational Info. Strategy = Long term direction and scope of an organization to achieve Competitive Advantage.
Basic Steps to Decision Making:
Methods o Statistical Analysis (Min, Max, Median, Standard Deviation) o Graphing/Charting o Spreadsheet Modeling Forecasts/Simulation Optimization Sensitivity Analysis Step 3: Develop Alternatives Current Available Alternatives Non-Existent Alternatives (you develop) DO NOTHING Step 4: Rate Your Alternatives Use information (charts) from Step 2 Rate your Alternatives by how well they meet your goals from Step 1 Step 5: Make Your Decision Things to Consider Change Management Evaluation Use Acquired Knowledge! Remember Knowledge = Applied Information
Finding Opportunities Using BPR
How to do a SWOT Analysis: Strategic Planning Made Easy Step 1: In the here and now… List all Strengths List all Weaknesses Step 2: What might be… List all Opportunities (Potential Future Strengths) List all Threats (Potential Future Weaknesses) Step 3: Plan of Action… Review your SWOT Matrix with a view of creating an action plan to address each element of SWOT.
Data Analysis Applied
Tips Go through all of the PowerPoints online while you look over this guide. Go over the podcasts and any other links on that page after LE1. If you like definitions go to studyblue.com or quizlet.com and search k201 to get premade notecards for the class.