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Questions and Answers
What is a key characteristic of a fully digital firm?
What is the primary goal of investing heavily in information systems?
What is the purpose of the output activity in an information system?
What is an important aspect of the feedback process in an information system?
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What is the primary difference between a computer and an information system?
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What is a major reason businesses invest in technology?
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What is the primary goal of time shifting and space shifting in business?
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What is the relationship between the ability to use information technology and the ability to implement corporate strategies?
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What is the primary purpose of the input activity in an information system?
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What is the primary focus of the business perspective on information systems?
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Study Notes
The Role of Information Systems in Business Today
- In a fully digital firm, significant business relationships are digitally enabled and mediated, core business processes are accomplished through digital networks, and key corporate assets are managed digitally.
- Digital firms offer greater flexibility in organization and management.
Time Shifting and Space Shifting in Business
- Time shifting refers to the ability to conduct business at any time, and space shifting refers to the ability to conduct business from any location.
The Importance of Information Systems in Business
- The ability to use information technology is closely tied to the ability to implement corporate strategies and achieve corporate goals.
- Business firms invest heavily in information systems to achieve six strategic business objectives:
- Operational excellence
- New products, services, and business models
- Customer and supplier intimacy
- Improved decision making
- Competitive advantage
- Survival
What is an Information System?
- Information vs data: data is raw, while information is the result of organizing and analyzing data.
- Perspectives on information systems include the three activities that produce information:
- Input: capturing raw data from the organization or external environment
- Processing: converting raw data into meaningful form
- Output: transferring processed information to people or activities that use it
- Feedback: output is returned to appropriate members of the organization to help evaluate or correct the input stage.
Business Perspective on Information Systems
- Information systems are more than just computers and software; they require a business perspective.
- The major business functions in an organization include:
- Operations
- Finance
- Marketing
- Human Resources
- Accounting
- Businesses invest in technology to improve their operations and achieve strategic objectives.
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Description
Learn about the role of information systems in business, including digital enablement, digital networks, and digital asset management. Understand the concepts of time shifting and space shifting in business.
