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CHAPTER 1 : BUSINESS DRIVEN TECHNOLOGY OVERVIEW - Coggle Diagram
CHAPTER 1 : BUSINESS DRIVEN TECHNOLOGY OVERVIEW
Students who understand technology have an advantage in business, and all students, regardless of the level of studies, should obtain a thorough understanding of information technology.
IT is everywhere in business world, anyone learning about business will benefit greatly by understanding information technology.
IT'S IMPACT ON BUSINESS OPERATIONS
• Customer services
• Finance
• Sales and Marketing
• IT Operations
• Operations management
• HR
• Security
IT PROJECT GOALS
• Reduce cost / improve productivity
• Improve customer satisfaction
• Create competitive advantage
• Generate growth
• Streamline supply chain
• Global expansion
Accounting
provides quantitative information about the finances of the business including recording, measuring, and describing financial information
Finance
deals with the strategic financial issues associated with increasing the value of the business, while observing applicable laws and social responsibilities
Sales
function of selling a good or service and focuses on increasing customer sales, which increases company revenues
Human Resources
includes the policies, plans, and procedures for the effective management of employees
Marketing
process associated with promoting the sale of goods or services. The marketing department supports the sales department by creating promotions that help sell the company’s products
Operations Management
also called production management ) includes the methods, tasks, and techniques organizations use to produce goods and services. Transportation (also called logistics) is part of operations management
Management Information System (MIS)
function that plans for, develops, implements, and maintains IT hardware, software, and the portfolio of applications that people use to support the goals of an organization
IT BASICS
IT :question: a field concerned with the use of technology in managing and processing information.
Business success and innovation rely heavily on information technology.
Spending a lot of money on IT will not guarantee an organization's success. To be successful, organisations must allocate resources to the right forms of IT that support their business operations.
WHAT IS MIS ?
a broad term for the business function and academic study that deals with the use of people, technologies, and procedures to solve operational problems.
MIS is not technology but a business function, similar to Accounting, Finance, Operations, and Human Resources
DATA, INFORMATION & BUSINESS INTELLIGENCE
Data
is a collection of basic facts that describe an event's characteristics.
Data that has been converted into a meaningful and helpful context is referred to as
information
.
IT RESOURCES
IT is useless unless the right people are trained to utilise and manage it efficiently and effectively.
If one fails, they all fail
People use
Information technology
1 more item...
IT CULTURES
Information-functional culture
Information-sharing culture
1 more item...
Employees use information to exert influence or control over others, which would harm an organization's culture.
Business intelligence (BI)
is a term that refers to software and technologies that help people make better decisions.