ITM 102 Lecture Notes - Lecture 1: Information System, Information Technology, Competitive Advantage

• School: Ryerson University
• Department: Information Technology Management
• Course: ITM 102
• Professor: Robert Hudyma

Document Summary

The role of information systems in business today. Information systems/technology an important tool in achieving greater efficiency and productivity. Wal(cid:373)art"s retail li(cid:374)k s(cid:455)ste(cid:373) li(cid:374)ks suppliers to stores for superior reple(cid:374)ish(cid:373)e(cid:374)t s(cid:455)ste(cid:373) Business model: describes how many company produces, delivers, and sell product or service to create wealth. Information systems and technology a major enabling tool for new products, services, business models. Serving customers well leads to customers returning, which raises revenues and profits (e. g. high-end hotels that use computers to track customer preferences and used to monitor and customize environment) Intimacy with supplies allows them to provide vital inputs, which lowers costs (e. g. nygard"s i(cid:374)for(cid:373)atio(cid:374) s(cid:455)ste(cid:373) (cid:449)hi(cid:272)h li(cid:374)ks sales re(cid:272)ords to (cid:272)o(cid:374)tra(cid:272)t (cid:373)a(cid:374)ufa(cid:272)turer(cid:895) Managers must use best guesses which results in. Responding to customers and supplies in real time (e. g. apple, ups) Collect, process, store and distribute information (microsoft word) The hardware and software that a firm need to achieve business objectives.