ITM 102 Lecture Notes - Lecture 2: Cash Flow, Accounts Receivable, Accounts Payable

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

Document Summary

1. 1 the role of information systems in business today. Three interrelated changes in the technology area: mobile phone platform, use of big data, cloud computing. Digital firm: nearly all organization business relationships are digitally enabled, core business processes linked through multiple networks and organizations. Business processes: set of tasks developed over time to produce business results, e. g. Developing a new product, generating and fulfilling an order, creating a market plan, and hiring an employee. Operational excellence: businesses improve operational efficiency for higher profitability. New products and services: is/it create new products and services and entirely new business models. Business model describes how a company produces, delivers, and sells a product or service. Customer and supplier intimacy: customs return and purchase more when the business serves them well, the more a business engages its suppliers, the better the suppliers can provide vital inputs, lowers costs. Improved decision making: poor outcomes raise costs and loses customers, is/it improve decision making.