Omis 2000 Notes
CHAPTER 1 – Information Systems in Global Business Today
OPENING CASE
Pricing at the Canadian Wheat Board; A Little More Than Numbers
Farmers count on CWB to maximize revenues because they market grains for the best possible price
CWB created internal solution but found it couldn’t adopt to organization’s growth
Adopted Numerix and now relies on it for pricing structured products and sees it as a critical step in meeting it’s financial statement and risk management requirements
These challenges show why information systems are so important today
THE ROLE OF INFORMATION SYSTEMS IN BUSINESS TODAY
$562 billion on information systems hardware software/telecommunications equipment was spent in America in 2010
$800 billion spent on business and management consulting and services – much of which involved redesigning firms’ business operations to take advantage of new technologies
How Information Systems Are Transforming Business
More wireless cell phone accounts opened in 2009 than land lines installed
June 2010 more than 99 million businesses worldwide had dot come internet sites
2009 UPS moved over 15 million packages
Supply chains have become more fast – paced with companies depending on JIT inventory to reduce overhead costs and market faster
Businesses starting to use social networking to connect employees, customers, and managers
What is New in Management Information Systems?
Management information systems change in technology, management use of technology, and business success
Successful firms are those that learn how to use new technologies
Technology
1. Cloud computing platform emerges as business are of innovation – computers on Internet perform tasks traditionally performed on corporate computers
2. Growth in software as a service (SaaS) – business applications online vs. boxed software
3. Mobile digital platform emerges to compete with PC – business users can download applications for business productivity on portable
OPENING CASE
Pricing at the Canadian Wheat Board; A Little More Than Numbers
Farmers count on CWB to maximize revenues because they market grains for the best possible price
CWB created internal solution but found it couldn’t adopt to organization’s growth
Adopted Numerix and now relies on it for pricing structured products and sees it as a critical step in meeting it’s financial statement and risk management requirements
These challenges show why information systems are so important today
THE ROLE OF INFORMATION SYSTEMS IN BUSINESS TODAY
$562 billion on information systems hardware software/telecommunications equipment was spent in America in 2010
$800 billion spent on business and management consulting and services – much of which involved redesigning firms’ business operations to take advantage of new technologies
How Information Systems Are Transforming Business
More wireless cell phone accounts opened in 2009 than land lines installed
June 2010 more than 99 million businesses worldwide had dot come internet sites
2009 UPS moved over 15 million packages
Supply chains have become more fast – paced with companies depending on JIT inventory to reduce overhead costs and market faster
Businesses starting to use social networking to connect employees, customers, and managers
What is New in Management Information Systems?
Management information systems change in technology, management use of technology, and business success
Successful firms are those that learn how to use new technologies
Technology
1. Cloud computing platform emerges as business are of innovation – computers on Internet perform tasks traditionally performed on corporate computers
2. Growth in software as a service (SaaS) – business applications online vs. boxed software
3. Mobile digital platform emerges to compete with PC – business users can download applications for business productivity on portable