Management Information Systems: Managing the Digital Firm Chapter 1 Information Systems in Business Today Learning Objectives • • • 1-1 How are information systems transforming business, and why are they so essential for running and managing a business today? 1-2 What is an information system? How does it work? What are its management, organization, and technology components? Why are complementary assets essential for ensuring that information systems provide genuine value for organizations? 1-3 What academic disciplines are used to study information systems, and how does each contribute to an understanding of information systems? Figure 1.1: Information Technology Capital Investment What’s New In Management Information Systems (1 of 2) • Technology – Cloud computing – Big data and the Internet of Things (IoT) – Mobile digital platform • Management – Online collaboration and social networking software – Business intelligence – Virtual meetings What’s New In Management Information Systems (2 of 2) • Organizations – Social business – Telework – Co-creation of business value How Information Systems Are Transforming Business – Mobile digital platform – Systems used to improve customer experience, respond to customer demand, reduce inventories, and more – Growing online newspaper readership – Expanding e-commerce and Internet advertising – New federal security and accounting laws Globalization Challenges and Opportunities: A Flattened World • Internet has reduced costs of operating on global scale • Increases in foreign trade, outsourcing • Presents both challenges and opportunities The Emerging Digital Firm • In a fully digital firm: – Significant business relationships are digitally enabled and mediated – Core business processes are accomplished through digital networks – Key corporate assets are managed digitally • Digital firms offer greater flexibility in organization and management – Time shifting, space shifting Strategic Business Objectives of Information Systems (1 of 2) • Growing interdependence between: – Ability to use information technology and – Ability to implement corporate strategies and achieve corporate goals Strategic Business Objectives of Information Systems (2 of 2) • Firms invest heavily in information systems to achieve six strategic business objectives: 1. 2. 3. 4. 5. 6. Operational excellence New products, services, and business models Customer and supplier intimacy Improved decision making Competitive advantage Survival

Information Systems in Business Today Lecture 1

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