Information Technology (IT)
A field concerned with the use of technology in managing and processing information. It is important to enabler of business success and innovation.
Information Technology's Role in Business :
i) Understanding information technology provides great insight to anyone learning about business.
ii) Business functions receiving the greatest benefit from information technology
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| Technology in BusinessWeek and Fortune |
i) Management information systems (MIS)
- Covering the application of people, technologies, and procedures to solve business problems.
- MIS is a business function, similar to Accounting, Finance, Operations and Human Resources.
ii) It is important to understand :
- Data, information, and business intelligence IT resources.
- It cultures.
Information :
i) Data - Raw facts that describe the characteristic of an event.
ii) Information - Data converted into a meaningful and useful context.
iii) Business intelligence - Decision made after knowing the info.
IT Cultures :
i) Information Functional Culture
- Employees use information as a mean of exercising influence or power over others.
This causes marketing to need the sales manager's input each time a
new sales strategy is developed.
ii) Information Sharing Culture
- Employees across department trust each other to use information to improve perfomances.
iii) Information Inquiring Culture
- Employees across department search for information to better understand the future and align themselves with current trends and new direction.
iv) Information Discovery Culture
- Employees across department are open to new insights about crisis and radical changes and seek ways to create competitive advantages.
Functional Organization - Each functional area has its own systems and communicates with every other functional area. |
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| Diagram shows Marketing communicating with all other functional areas in the organization. |
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