Download Lecture Exam 2 Study Guide - The Computer in Business | BUS and more Study notes Introduction to Business Management in PDF only on Docsity!
Topics Covered in Lecture 8 Slides
Material Covered
- Knowledge Management
- Strategic Initiatives & Enterprise Information Systems a. Supply Chain Management b. Customer Relationship Management c. Enterprise Resource Planning
Knowledge Management and Strategic Initiatives
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.
Knowledge Management Systems
Enterprise Information Systems (EIS) Supply Chain Management (SCM) Customer Relationship Management (CRM) Enterprise Resource Planning (ERP)
Topics Covered in Lecture 9 Slides
Material Covered
- Software Development
- Project Management a. The Triple Constraint b. Change Management
- IT and Strategic Planning a. SWOT Analysis
Systems Development, Project Management, and
Strategic Planning
Systems Development Life Cycle (SDLC)
Developing Software - Consequences of software Success and Failure: Increase or Decrease Revenue Repair or Damage Reputation Prevent or Incur Liabilities Increase or Decrease Productivity
Systems Development Life Cycle
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
SDLC Methodologies
Principles for developing successful Agile Software Development:
Slash the budget
If it doesn’t work, Kill it
3. Lack of Support from Business Management
4. Lack of Resources
5. Lack of Support from IT Management
6. Change in Technology during project
Managing Change
Efficiently Managing Change
1. Institute Change Management Policies
2. Anticipate Change
3. Seek Change
IT and Strategic Planning
Reactionary IT Strategic IT
Desired Outcome : Revenue Growth through improved customer
retention and new customers.
Strategy = Long Term Planning
The SWOT Matrix
Strengths (Good Now)
Maintain
Build
Leverage
Weaknesses (Bad Now)
Remedy
Stop Altogether
Opportunities (Good in Future)
Prioritize
Optimize
Threats (Bad in Future)
Counter
Project Management
Choosing Strategic Projects
Steps:
1. Focus on Organizational Goals
2. Categorize Projects
3. Perform a Financial Analysis
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.
Decision-Making Process
Basic Steps to Decision Making:
- Define the problem and develop goals.
- Gather necessary data and convert it to information.
- Develop Alternatives.
- Using Information, rate Alternatives.
- Make Decision Step 1: Define Problem & Develop Goals Gather Info about current Problem. Create a Descriptive Model. Use SWOT Analysis Results. Step 2: Gather Data & Convert to Information Consult those who will be affected and those who implement the decision.
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.
Strengths – Maintain, Build, Leverage
Weaknesses – Remedy or Stop
Opportunities – Prioritized and Optimized
Threats – Counter or Minimize
Data Analysis Applied
- Define Problem & Develop Goals
- Gather Data and Convert to Information (Charts)
- Develop Alternatives
- Using Information, Rate Alternatives
- Make Decision *Graphing/Charting is important because it reveals trends
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.
