Notes, summaries, assignments, exams, and problems for Other subjects

Differences Between IT and IS

What is the difference between IT and IS? Describe some of the functions of IS.

Information technology consists of all the hardware and software that a firm needs to use to achieve its business objectives. Information systems are more complex; an information system can be defined technically as a set of interrelated components that collect, process, store, and distribute information to support decision-making and control in an organization.

Information systems:

• Support decision-making, coordination, and control.
• Help employees analyze problems.
• Help employees visualize complex subjects.
• Help create new products.

Impact of IS on Corporate Strategies

How does a company's use of IS affect corporate strategies?

A firm's ability... Continue reading "Maximizing Business Value with Information Systems" »

Institutional Isomorphism in Organizations

Organizations often tend to look alike and behave similarly; this phenomenon is known as institutional isomorphism. It represents a natural tendency toward uniformity in sectors where actors share common structures, environments, and objectives.

3 Forms of Isomorphism

• Coercive: Driven by law, regulation, and political influence.
• Mimetic: Occurs between companies or competitors through the imitation of first movers or programs that become social norms (e.g., airline loyalty programs).
• Normative: Driven by professionals who establish industry standards to create a legitimate base for their activities (e.g., CRM software providers).

Loyalty Programs as Strategic Infrastructure

A loyalty program is both a tool... Continue reading "Institutional Isomorphism and Loyalty Program Strategies" »

Marketing Communications

1. Target Audience

Who are they?

2. Communication Objectives

Awareness, knowledge, preference, satisfaction

3. Effective Communications

Advertising, publicity, sales promotion, personal selling.

Effective Advertising: 10 Rules

1. Consumer-oriented
2. One selling idea
3. Emphasizes the most persuasive idea
4. Presents a unique proposition
5. Involves the consumer
6. Credible
7. Simple and clear
8. Associates the selling idea with the brand name
9. Exploits the medium
10. Makes the sale

5 M's of Advertising

• Mission
• Money
• Message
• Media
• Measurement

Sponsorship

• Credibility (provides validity)
• Imitation
• Image
• Bonding (involvement of customers)
• Retention (enduring awareness and exposure)

General Marketing

• Mass audience through mass media
• Impersonal communications
• Promotional programs
• Incomplete

Functional vs. Non-Functional Requirements

Functional Requirements define functionality for users, using natural language.

Non-Functional Requirements define quality attributes such as:

• Usability
• Reliability
• Efficiency & Performance
• Hardware & Software Constraints

Requirements

Requirements state what software does, not how it does it; this avoids unnecessary constraints.

Design Patterns

A design pattern is a reusable solution to a recurring problem.

Types of Requirements

• Business Requirements: High-level, describe business objectives, and do not describe functionality.
• User Requirements: Describe the tasks users need to accomplish. Multiple user requirements may relate to one business requirement.
• Software Features: Groups of logically related functional

Defining Marketing and Its Core Goals

Marketing is a business function dealing with customers. The simplest definition: marketing is engaging customers and managing profitable customer relationships. The goal of marketing is to:

• Attract new customers by promising superior value.
• Keep and grow current customers by delivering satisfaction.

Sound marketing is critical to the success of every organization. Both for-profit firms (such as Apple) and not-for-profit organizations use marketing. Marketing is all around you: at home, at university, and at work. Marketing is not only selling and advertising; it is satisfying customer needs.

Formal Definition of Marketing

The most complete definition: Marketing is the activity, set of institutions, and processes... Continue reading "Core Principles of Marketing and Customer Value" »

Effective Event Attendee Communication

Communication is an effective source of information and connection between event organizers and participants.

Types of Communication

• Initial Invitation: Usually the first communication, it will contain all details, values, propositions, and marketing messages to encourage registration.
• Follow-Up Marketing: Similar to the initial invitation but with a slightly different marketing message for those who did not respond the first time.
• Event Registration Confirmation: Sent to assure attendees that their registration has been received and processed correctly.
• Regret Message to Decline: Increases the positive perception of the event and helps forge stronger relationships even with those who cannot attend.
• Event Reminder:

Establish Goals and Objectives

Goals and objectives emerge from the visioning and prioritizing processes. Although the terms ‘goal’ and ‘objective’ tend to be used synonymously, we use the word ‘goal’ to refer to a qualitative outcome and ‘objective’ to refer to a measurable outcome. For example, a CRM goal might be to acquire new customers. A related CRM objective could be to generate 200 additional leads by the fourth quarter of the next financial year.

SMART Criteria for Objectives

• Specific: Details exactly what needs to be done.
• Measurable: Achievement or progress can be measured.
• Achievable: Objective is accepted by those responsible for achieving it.
• Realistic: Objective is possible to attain, important for motivational effect.

Social and Environmental Audits

Social audit: A formal review of a company's endeavors in social responsibility. It looks at factors such as the company’s record of charitable giving, volunteer activity, energy use, transparency, work environment, and worker pay. A social audit is optional.

Environmental audit: An independent third-party assessment of the current status of an organization’s compliance with local environmental laws and regulations. (Basically the same thing as a social audit in terms of process).

Span of Control

The number of subordinates that a manager or supervisor can directly control. For example, if one production manager has ten subordinates, his span of control is ten.

Narrow Span of Control

• Advantage for a firm of tight

Kanban: Flexible Planning

• No prescribed phase durations.
• Priorities are constantly reassessed based on the most recent information.
• The team starts new items in order of priority.
• Priorities can change throughout the project.
• The team decides what to do and when.
• Reduced lead times.

Core Values

1. Transparency: Sharing information openly and using clear vocabulary.
2. Balance: Maintaining equilibrium between demand and capability to prevent system breakdown.
3. Collaboration: Improving how people work together.
4. Customer Focus: Delivering value by understanding customer needs.
5. Flow: Visualizing and maintaining the flow of work.
6. Leadership: Encouraging leadership at all levels to achieve value delivery.
7. Understanding: Self-knowledge for both individuals and the organization.