ITM 102 Lecture Notes - Lecture 2: Resource Allocation, Financial Statement, Decision-Making

• School: Ryerson University
• Department: Information Technology Management
• Course: ITM 102
• Professor: Franklyn Prescod

Document Summary

Increasing efficiency of existing processes: automating steps that were manual. Business processes: flows of material, information, knowledge, sets of activities, steps, may be tied to functional area or be cross-functional. Businesses: can be seen as collection of business processes. Examples of functional business processes: manufacturing and production. Assembling the product: sales and marketing. Transaction processing systems: serve operational managers and staff, perform and record daily routine transactions necessary to conduct business. E. g. , sales order entry, payroll, shipping: allow managers to monitor status of operations and relations with external environment, serve predefined, structure goals and decision making. Tps: input: event, process: simple, table generation sorting, output: detailed reports, feedback. Management information systems (mis: serve middle management, provide reports on firm"s current performance, based on data from tps, provide answers to routine questions with predefined procedure for answering them, typically have little analytic capability. Mis: input: tps output, process: summarizing, visualizing, output: average, std (standard deviation), graphs.