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Information and entertainment products that are digitized (documents, graphics, audios,
videos, software)
Symbols, tokens and concepts (tickets and reservations, financial instruments)
Processes and services (government services, electronic services, social networks, etc.)
The new economy brings not only digitization, but also the opportunity to use new business
models. A business model is a method of doing business by which a company can generate
revenue to sustain itself. A comprehensive business model comprises of 6 elements:
1.
2.
3.
4.
5.
6.
Information System (IS) collects, processes, stores, analyzes and disseminates information for a
specific purpose. It processes the input using technology and produces the output to be sent to
users via electronic networks. Although, not all IS are necessarily computerized but the
computerized systems include hardware, software, data, a network, procedures and people.
Information Technology (IT) is a collection of computing systems used by an organization. It
includes the technological side of an IS. It includes the hardware, software, data and database,
networks and other electronic devices. IT is a subsystem of an IS.
Business Performance Management
1. Decide on desired performance levels
2. Determine how to attain these levels
3. Monitor performance
Porters Value Chain Model: The activities conducted in any manufacturing organization can
be divided into primary activities and support activities. Primary activities include:
a.
b.
c.
d.
e.
Inbound logistics
Operations
Outbound logistics
Marketing and sales
Services
Primary activities are supported by (1) The Firms Infrastructure, (2) Human Resource
Management, (3) Product and Technology Development and (4) Procurement.
Adaptive Enterprises are organizations that can respond in a timely manner to environmental
changes and to be agile they must also have a flexible IT architecture. To be adaptive, IT needs to
be synchronized with business processes.
Social Computing is computing that is concerned with the intersection of social behavior and
ISs. E.g. Blogs, instant messaging, social network services, etc. It concentrates on improving
collaboration and interaction among people.
Learning about IT is essential because the role of IT is increasing rapidly in support of
organizations. Over the years, we have become dependent on IT and the same would continue in
the coming future. Also, IT related jobs with high salary packages have been made available.