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- professionals who are relatively well educated and who create, modify, and/or synthesize knowledge as a fundamental part of their job. Peter Drucker coined this term in 1959. Better paid, well educated, stronger skills.
Result in a Knowledge Society
New Economy- (Digital World)
A world which people work with their brains instead of thier hands. A world where communications technology creates global competition. Innovation is more important than mass production.
The gap which offers an advantage to those who have access to information technology over those without access to information technology.
integration of economies througout the world, enabled by technological progress.
Effects of Globalization/ digital world on: economy, culture, & technology.
Economic- There is an increase in international trade, in the development of global financial systems and currency (creation of the Euro), and in the outsourcing of labor (Dell computer).
Cultural- increase in the availability of multiculturalism through television and movies; the frequency of international travel, tourism, and immigration; the availability of ethnic foods and restaurants; and the frequency of worldwide fads and phenomena.
Technological- the development of low-cost computing platforms and communication technologies or systems (e-mail, IM, text), low cost global telecommunications infrastructure (Internet), the enforcement of global patent and copyright laws to spur further innovation.
Information systems (IS)
the combination of the hardware, software, and telecommunications networks that people build and use to collect, create, and distribute useful data.
Used to make organizations be more productive and profitable.
physical computer equipment. (moniter, CPU, keyboard.)
Program or set of programs that tell the computer to perform certain tasks.
a group of 2 or more computer systems linked together with communications equipment.
recorded, unformatted information, such as words and numbers, that often has no meaning in and of itself.
data that has been formatted and/or organized in some way as to be useful to people.
a body of governing procedures, such as guidelines or rules, that are used to organized or manipulate data to make it suitable for a given task.
accumulated knowledge, gained through a combination of academic study and personal experience, that goes beyond knowledge by representing broader, more generalized rules and schemas for understanding a specific domain or domains; wisdom allows you to understand how to apply concepts from one domain to new situations or problems.
(data relationships for multiple domains)
mechanical and/or electrical means to supplement, extend, or replace human, manual operations, or devices.
Information Technology (IT)
machine technology that is conrolled by or uses information.
connecting separate information systems and data to improve business processes and decision making.
late 15 century- 1800
World shrunk medium to small
Globalization 3.0- 2000- present
World- small to tiny.
Enablers- Fall of Berlin wall, Netscape web browser, Work-flow software, uploading, outsourcing, offshoring, supply chaining, in-sourcing (UPS/Nike), in-forming (Yahoo), the steriods (skype).
combination of economic and political factors that influence a region.
(reducing the need to travel accross the world for business trips will save companies money in the long run.)
how different societies handle the issue of human inequality and sheds light on the inherent power structure within organizations and teams.
helps in understanding the risk-taking nature of a culture. May result in some cultures not too eager to adopt new technologies and techniques.
- Uncertainty avoidance
- Power Distance
- Concept of Time
- Life FOcus
- WOrk Culture
- Religion, beliefs, and attitudes
- Social organizations
International Business Stratagy
an international business stratagy employed to achieve economies of scale by producing identical products in large quantities for a variety of different markets.
international business strategy that views the international business as extension of the home business. The company only places a secondary emphasis on international operations. requires a low level of global intergration.
Global Business strategy
attempting to achieve economies of scale by producing identical products in large quantities for a variety of different markets. Companies specifically develop products for the global market instead of the home market.
Multidomestic Business Strategy
uses a loose federation of assocciated business units, each rather independent in thier strategic decesions. Very flexible and responsive to the needs of local markets.
Transnational Business Strategy
allows companies to leverage the flexibility offered by a decentralized organization (to be more responsive of local conditions), while at the same time reaping economies of scare enjoyed by centralization.