Ch. 2 Key Terms

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  1. ´╗┐automating
    using information systems to do an activity faster, cheaper, and perhaps more accurately and/or consistently
  2. best-cost provider strategy
    strategy to offer products or services of reasonably good quality at competitive prices
  3. business processes
    activities organizations perform in order to reach their business goals; core processes + supporting processes
  4. business/IT alignment
    the alignment of information systems with a business's strategy
  5. differentiation strategy
    strategy in which an organization differentiates itself by providing better products or services than its competitors
  6. disruptive innovation
    a new technology, product, or service that eventually surpasses the existing dominant technology, product, or service in a market
  7. domestic company
    a company operating solely in its domestic market
  8. e-business
    term used to refer to the use of a variety of types of information technologies and systems to support every part of the business
  9. e-business innovation cycle
    a model suggesting that the extent to which modern organizations use information technologies and systems in timely, innovative ways is the key to success
  10. economic opportunities
    opportunities that a firm finds for making more money and/or making money in new ways
  11. enabling technology
    information technology that enables a firm to accomplish a task or goal or to gain or sustain a competitive advantage in some way
  12. executive level
    the top level of the organization, where executives focus on long-term strategic issues facing the organization
  13. freeconomics
    the leveraging of digital technologies to provide free goods and services to customers as a business strategy for gaining a competitive advantage
  14. functional area information system
    a cross-organizational-level information system designed to support a specific functional area
  15. global business strategy
    an int'l business strategy employed to achieve economies of scale by producing identiacal products in large quantities for a variety of diff market
  16. home-replication strategy
    int'l business strategy that views the int'l business as an extension of the home business
  17. informating
    the ability of information technology to provide info about the operation within a firm and/or about the underlying work process that the system supports
  18. innovator's dilemma
    the notion that disruptive innovations can cause established firms or industries to lose market dominance, often leading to failure
  19. international business strategy
    set of strategies employed by organizations operating in different global markets
  20. key performance indicator (KPI)
    a metric deemed critical to assessing progress toward a certain organizational goal
  21. learning organization
    an organization that is skilled at creating, acquiring, and transferring knowledge and at modifying its behavior to reflect new knowledge and insights
  22. low-cost leadership strategy
    strategy to offer the best prices in the industry on goods or services
  23. managerial level
    the middle level of the organization, where functional managers focus on monitoring and controlling operational-level activities and providing info to higher levels of the organization
  24. multidomestic business strategy
    a decentralized international business strategy using a federation of associated business units, employed to be flexible and responsive to needs and demands of heterogeneous local markets
  25. organizational learning
    the ability of an organization to learn from past behavior and information, improving as a result
  26. organizational strategy
    a firm's plan to accomplish its mission and goals as well as to gain or sustain competitive advantage over rivals
  27. semistructured decisions
    decisions that require judgment and expertise; not clear-cut solution
  28. strategic necessity
    something an organization must do in order to survive
  29. strategic planning
    the process of forming a vision of where the organization needs to head, converting that vision into measurable objectives and performance targets, and crafting a plan to achieve the desired results
  30. structured decisions
    decisions where the procedures to follow for a given situation can be specified in advance; operational level
  31. transnational business strategy
    an int'l business strategy that allows companies to leverage the flexibility offered by a decentralized organization (to be more responsive to local conditions) while at the same time reaping economies of scale enjoyed by centralization; characterized by a balance between centralization and decentralization and interdependent resources
  32. unstructured decisions
    decisions where few or no procedures to follow for a given situation can be specified in advance
  33. value chain
    the set of primary and support activities in an organization where value is added to a product or service
  34. value chain analysis
    the process of analyzing an organization's activities to determine where value is added to products and/or services and the costs that are incurred for doing so
  35. value proposition
    what a business provides to a customer and what that customer is willing to pay for that product or service
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Ch. 2 Key Terms
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