Information Systems in Organizations study guide easing your revisions

Information Systems in Organizations study guide easing your revisions Organization - a group of people that is structured and managed to meet its mission or set of group goals Value Chain - a series (chain) of activities that an organization performs to transform inputs into outputs Supply Chain - key value chain in a manufacturing organization Supply Chain Management (SCM) - encompasses all the activities required to get the right product into the right consumer's hands in the right quantity at the right time and at the right cost Physical flows - supplies and raw materials Information flows - participants communicating their plans, coordinating their work, and managing the efficient flow of goods and material Virtual Team - a group of individuals whose members are distributed geographically, but work as a coherent unit through the use of information systems technology Innovation - the application of new ideas to the products, processes, and activities of a firm, leading to increased value Types of Innovation - 1. Sustaining innovation 2. Disruptive innovation 3. Re-engineering 4. Continuous improvement Sustaining innovation - results in enhancements to existing products, services, and ways of operating Disruptive innovation - one that initially provides a lower level of performance than the marketplace has grown to