Expert Answer :”Why is it challenging for businesses to align MIS

  

Solved by verified expert:Most companies would like to be in the market-leading position of JetBlue, Dell, or Walmart, all of which have used management information systems to secure their respective spots in the market place. These companies are relentless about keeping the cost of technology down by combining the best of MIS and business leadership. The future belongs to those organizations perceptive enough to grasp the significance of MIS and resourceful enough to coordinate their business and management information systems.1. Use the textbook and Internet resources to answer the question (in your own words), “Why is it challenging for businesses to align MIS and their other operations?” Use the following questions to begin your analysis:a. How do companies monitor competitive intelligence and create competitive advantages?b. What are some of the greatest MIS challenges for most firms?c. What drives MIS decisions?d. Who or what is the moving force behind MIS decisions for most companies?Double spaced, 500 words, all questions must be answered within document.
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CHAPTER ONE
MANAGEMENT
INFORMATION
SYSTEMS
BUSINESS DRIVEN
MIS
© The McGraw-Hill Companies, All Rights Reserved
2
CHAPTER ONE OVERVIEW
▪ SECTION 1.1 – BUSINESS DRIVEN MIS
• Competing in the Information Age
• The Challenge of Departmental Companies and the MIS
Solution
▪ SECTION 1.2 – BUSINESS STRATEGY
• Identifying Competitive Advantages
• The Five Forces Model – Evaluating Industry
Attractiveness
• The Three Generic Strategies – Choosing a Business
Focus
• Value Chain Analysis – Executing Business Strategies
SECTION 1.1
BUSINESS
DRIVEN MIS
© The McGraw-Hill Companies, All Rights Reserved
4
LEARNING OUTCOMES
1. Describe the information age and the
differences between data, information,
business intelligence, and knowledge
2. Explain systems thinking and how
management information systems enable
business communications
5
COMPETING IN THE
INFORMATION AGE
Did you know . . .
▪ Avatar, the movie, took over 4 yrs
to make and cost $450 million
▪ Lady Gaga’s real name is Joanne
Angelina Germanotta
▪ It costs $2.6 million for a 30second advertising time slot
during the Super Bowl
6
COMPETING IN THE
INFORMATION AGE
▪ Fact – The confirmation or validation
of an event or object
▪ Information age – The present time,
during which infinite quantities of facts
are widely available to anyone who
can use a computer
7
COMPETING IN THE
INFORMATION AGE
▪ Examples of the power of business
and technology
• Amazon – Not a technology company;
primary business focus is selling books
• Netflix – Not a technology company;
primary business focus is renting videos
• Zappos – Not a technology company;
primary business focus is selling shoes
8
COMPETING IN THE
INFORMATION AGE
▪ The core drivers of the information age
• Data
• Information
• Business intelligence
• Knowledge
9
Data
▪ Data – Raw facts that describe the characteristics
of an event or object
10
Information
▪ Information – Data converted into a meaningful
and useful context
11
Business Intelligence
▪ Business intelligence Information collected from
multiple sources such as
suppliers, customers,
competitors, partners, and
industries that analyzes
patterns, trends, and
relationships for strategic
decision making
12
Knowledge
▪ Knowledge – Skills, experience,
and expertise coupled with
information and intelligence that
creates a person’s intellectual
resources
▪ Knowledge worker – Individual
valued for their ability to interpret
and analyze information
13
THE CHALLENGE:
DEPARTMENTAL COMPANIES
Common Departments Working Independently
14
THE MIS SOLUTION
Common Departments Working Interdependently
15
THE MIS SOLUTION
16
THE MIS SOLUTION
17
SYSTEMS THINKING
▪ Systems thinking – A way of monitoring the entire
system by viewing multiple inputs being processed
or transformed to produce outputs while
continuously gathering feedback on each part
18
SYSTEMS THINKING
▪ Management Information Systems (MIS) –
A business function, like accounting and human
resources, which moves information about
people, products, and processes across the
company to facilitate decision-making and
problem-solving
19
MIS Department
Roles and Responsibilities
▪ Chief information officer (CIO) – Oversees all
uses of IT and ensures the strategic alignment
of IT with business goals and objectives
▪ Chief knowledge officer (CKO) – Responsible
for collecting, maintaining, and distributing the
organization’s knowledge
▪ Chief privacy officer (CPO) – Responsible for
ensuring the ethical and legal use of
information
20
MIS Department
Roles and Responsibilities
▪ Chief security officer (CSO) –
Responsible for ensuring the security of IT
systems
▪ Chief technology officer (CTO) –
Responsible for ensuring the throughput,
speed, accuracy, availability, and
reliability of IT
21
MIS Department
Roles and Responsibilities
SECTION 1.2
BUSINESS
STRATEGY
© The McGraw-Hill Companies, All Rights Reserved
23
LEARNING OUTCOMES
3. Explain why competitive advantages are
temporary
4. Identify the four key areas of a SWOT analysis
5. Describe Porter’s Five Forces Model and
explain each of the five forces
6. Compare Porter’s three generic strategies
7. Demonstrate how a company can add value
by using Porter’s value chain analysis
24
IDENTIFYING COMPETITIVE
ADVANTAGES
▪ Business strategy – A leadership plan that
achieves a specific set of goals or objectives
such as

Developing new products or services

Entering new markets

Increasing customer loyalty

Attracting new customers

Increasing sales
25
IDENTIFYING COMPETITIVE ADVANTAGES
26
IDENTIFYING COMPETITIVE
ADVANTAGES
▪ Competitive advantage – A product or service
that an organization’s customers place a greater
value on than similar offerings from a competitor
▪ First-mover advantage – Occurs when an
organization can significantly impact its market
share by being first to market with a competitive
advantage
27
IDENTIFYING COMPETITIVE
ADVANTAGES
28
SWOT ANALYSIS
▪ A SWOT analysis evaluates an organization’s
strengths, weaknesses, opportunities, and
threats to identify significant influences that
work for or against business strategies
29
THE FIVE FORCES MODEL –
EVALUATING INDUSTRY ATTRACTIVENESS
Porter’s Five
Forces Model
30
Buyer Power
▪ Buyer power – The ability of
buyers to affect the price of an item
• Switching cost – Manipulating costs
that make customers reluctant to
switch to another product
• Loyalty program – Rewards
customers based on the amount of
business they do with a particular
organization
31
Supplier Power
▪ Supplier power – The suppliers’ ability to
influence the prices they charge for supplies
• Supply chain – Consists of all parties involved in
the procurement of a product or raw material
32
Threat of Substitute
Products or Services
▪ Threat of substitute
products or services – High
when there are many
alternatives to a product or
service and low when there
are few alternatives
33
Threat of New Entrants
▪ Threat of new entrants – High when it is
easy for new competitors to enter a market
and low when there are significant entry
barriers
• Entry barrier – A feature of a product or service
that customers have come to expect and
entering competitors must offer the same for
survival
34
Rivalry Among
Existing Competitors
▪ Rivalry among existing competitors –
High when competition is fierce in a
market and low when competitors are
more complacent
• Product differentiation – Occurs when a
company develops unique differences in its
products or services with the intent to
influence demand
35
Analyzing the Airline Industry
▪ Perform a Porter’s Five Forces analysis of each of
the following for a company entering the
commercial airline industry
• Buyer power
• Supplier power
• Threat of substitute products/services
• Threat of new entrants
• Rivalry among competitors
36
THE THREE GENERIC STRATEGIES
CHOOSING A BUSINESS FOCUS
Porter’s Three Generic Strategies
37
THE THREE GENERIC STRATEGIES
CHOOSING A BUSINESS FOCUS
Porter’s Three Generic Strategies
38
VALUE CHAIN ANALYSIS –
EXECUTING BUSINESS STRATEGIES
▪ Business process – A
standardized set of activities that
accomplish a specific task, such as
a specific process
▪ Value chain analysis – Views a
firm as a series of business
processes that each add value to
the product or service
39
VALUE CHAIN ANALYSIS –
EXECUTING BUSINESS STRATEGIES
▪ Primary value activities
• Inbound logistics – Acquires raw materials and
resources, and distributes
• Operations – Transforms raw materials or inputs into
goods and services
• Outbound logistics – Distributes goods and services to
customers
• Marketing and sales – Promotes, prices, and sells
products to customers
• Service – Provides customer support
40
VALUE CHAIN ANALYSIS –
EXECUTING BUSINESS STRATEGIES
▪ Support value activities
• Firm infrastructure – Includes the company format or
departmental structures, environment, and systems
• Human resource management – Provides employee
training, hiring, and compensation
• Technology development – Applies MIS to processes
to add value
• Procurement – Purchases inputs such as raw materials,
resources, equipment, and supplies
41
VALUE CHAIN ANALYSIS –
EXECUTING BUSINESS STRATEGIES
Porter’s Value Chain
42
VALUE CHAIN ANALYSIS –
EXECUTING BUSINESS STRATEGIES
Value Chain and Porter’s Five Forces Model
43
LEARNING OUTCOME REVIEW
▪ Now that you have finished the chapter
please review the learning outcomes in
your text

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