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Definition
a broad subject concerned with technology and
other aspects of managing and processing information, especially in large organizations.
In particular, IT deals with the use of electronic computers and computer software to convert, store, protect, process, transmit, and retrieve information. |
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| IT Specialists/IT Department |
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| Computer professionals who work in the division of a company/university that deals with software technology |
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| a system that collects and processes data and provides it to managers at all levels who use it for decision making, planning, program implementation and control. Comprised of all the components that collect, manipulate and disseminate data or information, usually including hardware, software, people and communication systems. |
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| functional support role, decision support role, strategic support role and performance monitoring role |
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| 1991-2011 IT as Environment |
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| machines that fit the human environment instead of forcing humans to enter theirs, people may not even be aware they are using the tech |
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| Artificial Linguistic Internet Computer Entity, programs that engage in text conversation with users |
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| IT Capital Investment over time |
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| IS are more than just computers |
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| Organizational dimension of IS |
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| People, Structure, Business processes, Culture, Politics |
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| Management division of is |
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| Managers are: sense makers, decision makers, planners, innovators of new processes, Leaders: set agendas |
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| Technology dimension of IS |
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tools managers use to cope with change:
hardware (physical equipment), software (detailed preprogrammed instructions), storage (physical media for storing data and the software), communications technology (transfers data from one physical location to another), networks (links computers to share data or resources) |
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| Strategic business objectives of IT |
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| Operational excellence (i.e. Wal-Mart), new products, services and business models (i.e. Netflix), customer and supplier intimacy (JCPenny & TAL), Improved decision making (Verizon), Competitive Advantage (Dell), Survival (Citibank and ATM's) |
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| Organizational Asstets (Culture, Business Model, Processes, IS Development), Managerial Assets (Management Support, Innovation, Teamwork, Training), Social assets (Society's investment, laws and regulations, internet, education, IT services) |
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| Systems from a functional perspective |
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| Sales & Marketing systems, Manufacturing and Production systems, Finance and accounting systems, HR Systems |
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| systems from a constituency perspective |
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| transaction processing systems, management information systems, decision support systems, executive support systems |
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| Major Types of Information Systems |
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| Constituency perspective of IS |
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| Operational level (support operational managers, keeping tack of the elementary activities and transactions), Management level (serve the monitoring, controlling, decision making and administrative activities), strategic level (help senior management tackle and address strategic issues) |
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| Management Information Systems (MIS) |
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| Relationship of systems to one another |
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| The Order Fulfillment Process |
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| Enterprise Application Architecture |
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| Enterprise Resource Planning (ERP) System |
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| A cross-functional enterprise system driven by an integrated suite of software modules that supports the basic internal business processes of a company |
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| Traditional View of Systems |
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| Enterprise system architecture |
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| interdependent software modules with a common central database that supports basic internal business processes for finance and accounting, human resources, manufacturing and production and sales and marketing. Data can be used by multiple functions and business processes for precise organizational coordination/control. Information that was previously fragmented in different systems can seamlessly flow throughout the firm so that it can be shared by business processes |
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| business value of enterprise systems |
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| help to unify the firms structure and organization (one organization), management (firm wide knowledge based management processes), Business, (more efficient operations and customer driven business processes |
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| Quality and Efficiency ERP Benefits |
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| creates a framework for integrating and improving a company's internal business processes that results in significant improvements in the quality and efficiency of customer service, production and distribution |
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| decreased costs benefits of ERP |
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| significant reductions in transaction processing costs and hardware, software and IT support staff |
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| Decision support ERP benefits |
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| provides vital cross-functional information on business performance quickly to managers to significantly improve their ability to make better decisions in a timely manner |
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| enterprise agility ERP benefits |
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| ERP breaks down many former departmental and functional walls of business processes, information systems and information resources |
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| Challenges of Enterprise systems |
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| difficult to build (require fundamental changes in the way the business operates), technology (Require complex pieces of software and large investments of time, money and expertise), Centralized organizational coordination and decision making (not the best way for the firms to operate) |
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| Supply Chain Management System (SCM) |
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| an enterprise application that helps businesses manage relationship with their suppliers |
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| Network of organizations and business processes for procuring raw materials, transforming into products, and distributing them to customers. Materials, information and payments flow through the supply chain in different directions. Coordination of business processes to speed information, product, and fund flows up and down a supply chain to reduce time, redundant effort and inventory costs. |
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| Key supply chain management processes |
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Decide when and what to produce, store and move.
Rapidly communicate orders.
Track the status of orders.
Check inventory availability and monitor inventory levels.
Reduce inventory, transportation and warehousing costs.
Track shipments.
Plan production based on actual customer demand.
Rapidly communicate changes in product design. |
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| scheduling system for minimizing inventory by having components arrive exactly at the moment they are needed and finished goods shipped as soon as they leave the assembly line. Distortion of information about the demand for a product as it passes from one entity to the next across the supply chain. |
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| production master schedules based on forecasts of demand for products and products are "pushed" to customers |
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| supply chain driven by actual customer orders or purchases |
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| Supply chain management systems |
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| automate flow of information between company and supply chain partners |
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| Supply chain planning systems |
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| generate demand forecasts for a product (demand planning) and help develop sourcing and manufacturing plans for that product |
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| supply chain execution systems |
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| manage the flow fo products through distribution centers and warehouses to ensure that products are delivered to the right locations in the most efficient manner |
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| Supply chain performance measurement*** |
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Fill rate (the ability to fill orders by the due date).
Average time from order to delivery.
The number of days of supply in inventory.
Forecast accuracy.
The cycle time for sourcing and making a product. |
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Close linkage and coordination of activities involved in buying, making and moving a product.
Integrates supplier, manufacturer, distributor, and customer logistics time.
Reduces time, redundant effort and inventory costs.
Network of organizations and business processes.
Helps in procurement of materials, transformation of raw materials into intermediate and finished products.
Helps in distribution of the finished products to customers.
Includes revers logistics-returned items flow in the reverse direction from the buyer back to the seller. |
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| Managing customers in the Information Era |
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| challenges and opportunities with IT: more "empowered" customers (consumer vigilantes), More "involved" customers (starbucks customer buzz) |
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| Customer Relationship Management (CRM) system |
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| an enterprise application that helps firms manage relationship with customers |
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| ...from your marketing class |
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Definition
Cost 6x more to sell to new customers than existing ones.
Typical dissatisfied customer tells 8-10 people.
Profits can be increased 85% by increasing customer retention by 5%.
Odds of selling to new customer=15%, odds of selling to existing customer=50% |
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Front Office is no longer the private domain of the sales department, focus of the entire company.
Shifts from a transaction based business model to a service based relationship business model.
Customer centricity: maximize value of every customer interaction |
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| Customer Relationship Management (CRM) |
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Definition
Manages all ways used by firms to deal with existing and potential new customers.
Uses information system to coordinate entire business processes of a firm.
Provides end-to-end customer care.
Provides a unified view of customer across the company.
Consolidates customer data from multiple sources and provides analytical tools for answering questions |
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| Customer Loyalty Management Process Map |
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Definition
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Capture and integrate customer data from all over the organization.
Consolidate and analyze the data.
Distribute results to various systems and customer touch points across the enterprise.
Decide touch points (method of interaction with a customer, such as telephone, e-mail, customer service desk, conventional mail, Web site or retail store |
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| How CRM Systems Support Marketing |
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| Partner Relationship Management (PRM) |
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| Automation of the firm's relationships with selling partners using customer data and analytical tools to improve coordination and customer sales |
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Customer-facing applications such as sales force automation, call center and customer service support and marketing automation.
Examples: Campaign management, e-marketing, account and contact management, lead management, telemarketing, tele-selling, e-selling, field sales |
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Applications that analyze customer data generated by operational CRM applications to provide information for improving business performance.
Examples: Develop customer segmentation strategies and customer profiles; analyze customer or product profitability; identify trends in sales length cycle; analyze leads generated and conversion rates. |
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| Business Value of CRM Systems |
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Increased customer satisfaction.
More effective marketing and reduced direct marketing costs.
Lower costs for customer acquisition and retention.
Increased revenue from identifying most profitable customers and segments for marketing, cross-selling, up-selling |
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| CRM Systems Reduce Churn Rate |
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| number of customers who stop using or purchasing products or services from a company |
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| Realizing Customer Lifetime Value (CLTV) (CRM) |
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| difference between revenues and expenses minus the cost of promotional marketing used to retain an account |
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| CRM performance measurement |
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| Cost per lead, Cost per sale, Number of repeat customers, Churn rate, sales closing rate |
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| The Changing Economies of Information |
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Definition
Ubiquity: shopping can take place anywhere.
Global Reach: the internet increases the number of customers across national boundaries.
Universal standards: Communication between different systems are seamless.
Increases richness: The internet increases the depth, detail and scope of information.
Interactivity: More interactions with customers.
Information Density: Reduces information cost and information asymmetry.
Personalization/Customization: Individualize Commerce.
Social Tech: User-generated content |
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| Revenue Options: Commerce |
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| product sales, commissions, sales or transaction fees |
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| Subscription fees, Document fees, Registration fees |
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| Revenue Options: Community |
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| Advertising fees, referral fees, membership fees |
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| Revenue Options: Infrastructure |
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| Software/hardware sales or license, maintenance/update, integration/install, hosting/access fees |
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| sells goods or services online (Amazon.com) |
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| provides information on products or services (edmunds.com) |
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| provides online transaction facility (eTrade.com, Expedia.com) |
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| provides a trading platform for individuals and firms (craigslist, ebay) |
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| creates revenue by providing content (WSJ.com, ESPN.com) |
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| provides online services including search service (google, paypal) |
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| provides an online community to focused groups |
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| provides initial point of entry to web, specialized content, services (yahoo.com, msn.com) |
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| Digital Market: Price Comparisons |
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| Prices onlineMenu cost onlinePrice dispersion online>conventional store |
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| Advantages of regular shopping |
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Affective processing (images, sounds, smells) vs cognitive faculties (price and feature comparison).
Transaction costs: visible vs invisible (gas etc.)
Delayed gratification high and low |
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| allows modeling and tracking of costs of items and goods |
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| Impacts of cost transparency |
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Low Profits (AT&T vs. Sprint)
Services and products as commodities (ameritrade, E-trade vs Merrill Lynch).
Customer loyalty (P&G).
Reputation damage by price unfairness (Auto industry in 1970's) |
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more information about prices, features and quality on internet.
Buyer-seller match (alibaba.com).
Proprietary information is now available (travelocity, edmunds)
price comparison is easy (pricescan,com) |
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| Price Wars: Brand Premium |
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Internet technology lowered the risk that buyers paid for inferior brands before.
National brand vs. inferior brand.
Risk premium for brand.
easily accessible information about other brands |
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| Price Wars: Brand Premium |
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Internet technology lowered the risk that buyers paid for inferior brands before.
National brand vs. inferior brand.
Risk premium for brand.
easily accessible information about other brands |
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| Price Wars: Price Floor Revealed |
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buyer led pricing and reverse auction allow buyers to see price floor easily.
Buyer led pricing (priceline.com)
buyer's motivation to bid lower next time
reverse auctions (dutch auctions, eBay, penny auction) |
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| Price Wars: Rational Shopping |
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| Affective vs cognitive processing, more rational shopping "impulse buy" less likely |
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| price war: new price structure |
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Location-based market segmentation becomes harder for e-commerce (comparing prices in store and online).
Other price discrimination practices (coupons, bargain hunters) (shipping and handling packages) |
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| price wars: building customer base |
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| rethinking about pricing: importance of gaining customer Ex: buy.com, free cell phones |
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