Conestoga College Institute Of Technology And Advanced Learning (Conestoga )
International Business
COMP72370
Class notes
Information Management Class Notes
11 views 2 purchases
Course
COMP72370
Institution
Conestoga College Institute Of Technology And Advanced Learning (Conestoga )
This course is an overview of the nature of information and its use in business. Topics will include: computer hardware and software architecture, telecommunications and the Internet, database management, decision support systems, ecommerce, systems acquisition process, and security, global and eth...
Conestoga College Institute of Technology and Advanced Learning (Conestoga )
International Business
COMP72370
All documents for this subject (1)
Seller
Follow
AndreaMcDonald
Reviews received
Content preview
Chapter 1: MIS – Management Information Systems
What is an Information System?
• An information system (IS) is a group of components that interact to produce information
• Five fundamental components of computer-based information systems are:
1. Hardware
2. Software
3. Data
4. Procedures
5. People
What is MS?
• Management Information Systems (MIS) comprise the development and use of information
systems that help organizations achieve their goals and objectives
• Key elements:
1. Development and use
2. Information systems
3. Goals and objectives
Development and Use of Information Systems
• You need to:
– Take an active role in order to ensure that system will meet your needs
– Learn how to acquire information systems
Figure out how the system works
– Learn how to use information systems
Security, backup, recovery
Achieving Business Goals and Objectives
• MIS aids businesses in achieving objectives
– Organizations themselves don’t do anything, so MIS allows them to run operations
• MIS empowers users to reach goals
– Need to be developed to actually assist rather than for the sake of having tech
,Social Media: Changing the Relationship Between Customers and
Business
• Social media allows people to connect and share their opinions about the world
• Social Media/Networking, where often ignored by companies at first – but it allows good press
and bad press to be shared to millions within seconds
• Now, organizations are creating strategies that incorporate social networking tools
How is IS Different from IT?
• Information system (IS) is a system of hardware, software, data, procedures, and people that
produces information
• Information technology (IT) represents raw technology, components of IS
– Hardware
– Software
– Data components
• IT refers to:
– Methods
– Inventions
– Standards
– Products
• IT must be embedded into an IS to help accomplish objectives
– Technology must be combined with people and procedure components
– IS includes people, which impacts the design and implementation of the system
– Successful business people utilize differences between IT and IS to improve their
systems
Why Are Information Systems Important for Our Economy?
• Information and Communications Technology (ICT) sector is the most closely related to use of
IS in Canada.
• ICT sector provides products and services that other industries rely on such as software,
manufacturing wholesaling, telecommunications, computer services
,How Do Successful Business Professionals Use IS?
• Consumers are accustomed to yearly advances in devices, services, and pricing
• Products should be
• Free – free or delivered at no cost (Twitter, Instagram, Facebook)
• Perfect – Contain no errors or competitive with alternatives
• Now – Delivered almost immediately, usable, and available 24/7
• Today, every business professional uses numerous information systems, some basic ones are:
• Email
• Accessing webpages
• Using word processors, spreadsheets, presentations
• Instant messaging and location-based services on smart phones
• To be successful business professionals need to learn to use the following:
• Use of mobile devices and applications, and collaborative systems
• Use of project-management software – Microsoft Project, OpenProject
• Business graphics – MS Visio, SmartDraw
Gaining a Competitive Advantage
Five key transformative technologies will be in demand:
1. Virtual and augmented reality
2. 5G mobile
3. 3D printing
4. Blockchain
5. Artificial intelligence
Communication, business skills and technical knowledge are paramount
Five occupations predicted to have above-average growth rates:
• Computer programmers and interactive media developers
, • Graphic arts technicians
What is the Shape of Things to Come?
• Moore’s Law noted that the density of circuits on an integrated chip was doubling
approximately every two years or so
• Prediction is accurate for past five decades, one of few accurate predictions
• Same amount of money can buy increased computer capacity than 50 years ago
Networks Effects and Lock-in
• The value that is received from using certain technologies increases significantly as the
number of users increases.
• Examples:
– Fax machines: couldn’t have sold just one
– Social networks: need others to join
• Once established, network effects can lock-in users and make it harder for them to switch
technologies
Business of IT and IS
• How will the changes in IT and IS affect the way we live and work?
– Business is changing because of advances in IS and IT
– Mobility devices will change what it means to go to work, allow remote working
anywhere, anytime
– Ability to handle (find, process, understand, communicate) data is going to be important
skill for decades to come
• Within the next decade:
– Unlimited storage will be almost free
– Analytical software will reveal hidden information
– The real and virtual world will collide as wide-area networks (WANs) become cheap,
reliable, and widely available
– These technology trends will enable deep, powerful, performance-enhancing
innovations that will be felt in almost every industry
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller AndreaMcDonald. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $10.49. You're not tied to anything after your purchase.
