What are the four skills that Robert Reich suggests you have in business?
- ) Abstract Reasoning
- ) Systems Thinking
- ) Collaboration
- ) Ability to Experiment
Moore’s Law
Gordon Moore stated that because of technology improvements, “The number of transistors per square inch on an integrated chip doubles every 18 months.”
• Because of Moore’s Law, the cost of data processing, communications, and storage is essentially zero.
Abstract Reasoning
The ability to make and manipulate models
Systems Thinking
The ability to model the components of the system and to connect the inputs & outputs into a sensible whole
Collaboration
The activity of 2 or more people working together to achieve a common goal, result, or work product
Experimentation
Making a reasoned analysis of an opportunity, envisioning potential solutions, evaluating those possibilities, and developing the most promising ones, consistent with the resources you have.
Tradable Job
Defined by Spence and Hlatshwayo as a job that is not dependent on a particular location; can be outsourced
What are the 4 reasons MIS is the most important course in the business school?
- ) Future business professionals need to be able to assess, evaluate, and apply emerging information technology to business.
- ) It will give you the background you need to assess, evaluate, and apply emerging information systems technology to business.
- ) It can give you the ultimate in job security–marketable skills– by helping you learn abstraction, systems thinking, collaboration, and experimentation.
- ) Many MIS-related jobs are available.
System
A group of components that interact to achieve some purpose
Information System (IS)
A group of components that interact to produce information
- hardware, software, data, procedures, & people
- You can NOT buy it
Name the components in the 5-Component Framework of Information Systems.
- ) Hardware
- ) Software
- ) Data
- ) Procedures
- ) People
Management of Information Systems
To develop, maintain, and adapt (information systems)
When a company decides to create a Facebook page, what questions should be answered first?
- ) What is the purpose of our Facebook page?
- ) What is it going to do for us?
- ) What is our policy for employees’ contributions?
- ) What should we do about critical customer reviews?
- ) Are the costs of maintaining the page sufficiently offset by the benefits?
Information Technology (IT)
The products, methods, inventions, and standards that are used for the purpose of producing information
- hardware, software, & data components
- You can BUY IT
Information
- Knowledge derived from data
- Data presented in a meaningful context
- Processed data; data processed by surmising, ordering, averaging, grouping, comparing, or other similar operations
- Gregory Bateson: “a difference that makes a difference”
Data
Recorded facts or figures
What Are the 5 Characteristics Data Should Have for Good Information?
- ) Accurate
- ) Timely
- ) Relevant– to context & subject
- ) Just Barely Sufficient
- ) Worth Its Cost
Define MIS and what it stands for.
- Management Information Systems.
* The management and use of information systems that help organizations achieve their strategies
