MIS chapter 2 key terms

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MIS chapter 2 key terms
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2013-10-14 17:18:35
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Mis chapter 2 key terms
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  1. Administrative heritage
    The corporate culture that has evolved in the environment of a firm's home country.
  2. Automating
    Using information systems to do an activity faster, cheaper, and perhaps with more accuracy and/or consistency.
  3. Best-cost provider strategy
    A strategy to offer products or services of reasonably good quality at competitive prices.
  4. Business/IT alignment
    The alignment of information systems with a business's strategy.
  5. Business model
    The summary of a business's strategic direction, outlining how the objectives will be achieved; a business model specifies how a company will create, deliver, and capture value.
  6. Business process
    A set of related activities an organization performs in order to reach its business goals.
  7. Capabilities
    An organization's ability to leverage its resources.
  8. Differentiation strategy
    A strategy in which an organization differentiates itself by providing better products or services than its competitors.
  9. Disruptive innovation
    A new technology, product, or service that eventually surpasses the existing dominant technology, product, or service in the market.
  10. Distinctive competency
    Any unique strength possessed by an organization that helps to pursue an organizational strategy.
  11. Domestic company
    A company operating solely in its domestic market.
  12. E-business
    A term used to refer to the use of a variety of types of information technologies and systems to support every part of the business.
  13. E-business innovation cycle
    A model suggesting that the extent to which modern
  14. Economic opportunities
    Opportunities that a firm finds for making more money and/or making money in new ways.
  15. Enabling technology
    An information technology that enables a firm to accomplish a task or goal to gain or sustain a competitive advantage in some way.
  16. Executive level
    The top level of the organization, where executives focus on long-term strategic issues facing the organization.
  17. First-mover advantage
    Being the first to enter a market.
  18. Freeconomics
    The leveraging of digital technologies to provide free goods and services to customers as a business strategy for gaining a competitive advantage.
  19. Functional area information system
    A cross-organizational-level information system designed to support a specific functional area.
  20. Global business strategy
    An international business strategy employed to achieve economies of scale by producing identical products in large quantities for a variety of different markets.
  21. Home-replication strategy
    An international business strategy that views the international business as the extension of the home business.
  22. Innovator's dilemma
    The notion that disruptive innovations can cause established firms or industries to lose market dominance, often leading to failure.
  23. International business strategy
    A set of strategies employed by organizations operating in different global markets.
  24. Key performance indicator (KPI)
    A metric deemed critical to assessing progress toward a certain organizational goal.
  25. Low-cost leadership strategy
    A strategy to offer the best prices in the industry on goods or services.
  26. Managerial level
    The middle level of the organization, where functional managers focus on monitoring and controlling operational-level activities and providing information to higher levels of the organization.
  27. Multidomestic business strategy
    A decentralized international business strategy using a federation of associated business units, employed to be flexible and responsive to the needs and demands of heterogenous local markets.
  28. Operational level
    The bottom level of an organization, where the routine, day-to-day business processes and interactions with customers occur.
  29. Organizational learning
    The ability of an organization to learn from past behavior and information, improving as a result.
  30. Organizational strategy
    A firm's plan to accomplish its mission and goals as well as to gain or sustain competitive advantage over rivals.
  31. Resources
    An organization's specific assets that are utilized to create cost or product differentiation from their competitors.
  32. Revenue model
    Part of a business model that describes how the organization will earn revenue, generate profits, and produce a superior return on invested capital.
  33. Semistructured decision
    A decision where problems and solutions are not clear-cut and often require judgment and expertise.
  34. Strategic necessity
    Something an organization must do in order to survive.
  35. Strategic planning
    The process of forming a vision of where the organization needs to head, converting that vision into measurable objectives and performance targets, and crafting a plan to achieve the desired results.
  36. Structured decision
    A decision where the procedures to follow for a given situation can be specified in advance.
  37. Transaction
    Anything that occurs as part of daily business of which an organization must keep a record.
  38. Transnational business strategy
    An international business strategy that allows companies to leverage the flexibility offered by a decentralized organization while at the same time reaping economies of scale enjoyed by centralization.
  39. Unstructured decision
    A decision where few or no procedures to follow for a given situation can be specified in advance.
  40. Value chain
    The set of primary and support activities in an organization where value is added to a product or service.
  41. Value chain analysis
    The process of analyzing an organization's activities to determine where value is added to products and/or services and the costs that are incurred for doing so.
  42. Value creation
    An organization providing products at a lower cost or with superior (differentiated) benefits to the customer.
  43. Value proposition
    The utility that the product/service has to offer to customers.

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