Wk2 2 Slides PG

INFS5978 Accounting Information Systems
Wk 2 S1 2014
INFS5978
Accounting Information Systems
School of Information Systems Technology and Management
INFS 5978 Accounting Information Systems AIS
Ch 1: COMPETING IN THE INFORMATION AGE SECTION 1.1 INFORMATION SYSTEMS IN BUSINESS

Business and the information age The role of IT in business Data, information, BI and knowledge ITs impact on business operations Systems thinking Roles and responsibilities in IT IT R Resources Global IT
SECTION 1.2 BUSINESS STRATEGY

Identifying competitive advantages The Five Forces Model: evaluating industry attractiveness The three generic strategies: choosing a business focus Value chain analysis: executing business strategies
Copyright 2013 McGraw-Hill Australia Pty Ltd
INFS 5978 AIS S1 2014 Wk 2 Slide 2
Ch 1: COMPETING IN THE INFORMATION AGE
LEARNING OUTCOMES
1.1 Describe the information age and the differences among data, information, business intelligence and knowledge. 1.2 Identify the different departments in a company and h th t work kt th to t achieve hi why they must together success. 1.3 Explain systems thinking and how management information systems enable business communications. 1.4 Describe and compare the different roles and responsibilities in information technology.
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BUSINESS AND THE INFORMATION AGE

Fact a confirmed or validated piece of data or information
Information age the present time, when infinite numbers of facts are widely available to anyone who can use a computer
BUSINESS AND THE INFORMATION AGE

Examples of the power of business and technology
Amazon not a technology company; primary business focus was selling g books, , nowsells everything! Netflix not a technology company; primary business focus is renting videos Zappos not a technology company; primary business focus is selling shoes
THE ROLE OF INFORMATION TECHNOLOGY (IT) IN BUSINESS

Management Information Systems (MIS) a general name for the business function and academic discipline covering the application of people, technologies and procedures (collectively called information systems [IS]) to solve business problems
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DATA, INFORMATION, BUSINESS INTELLIGENCE AND KNOWLEDGE

The core drivers of the information age
Data Information Business intelligence Knowledge
Data raw facts that describe the characteristics of an event or object
Information data converted into a meaningful and useful context
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Business intelligence information collected from multiple sources, such as suppliers, customers, competitors, partners and industries, that analyses patterns, trends and relationships for strategic decision making
Knowledge includes the skills,

experience and expertise, coupled with information and intelligence, that creates a persons intellectual resources Knowledge workers individuals valued for their ability to interpret and analyse information
ITs IMPACT ON BUSINESS OPERATIONS

Challenge: departmental companies
Common departments working independently
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SYSTEMS THINKING
Solution: management information systems
Common departments working interdependently
Systems thinking a way of monitoring the

entire system by viewing multiple inputs being processed or transformed to produce outputs, while continuously gathering feedback on each part
ROLES AND RESPONSIBILITIES IN IT

Chief information officer (CIO) oversees all uses of IT and ensures the strategic alignment of IT with business goals and objectives Chief technology officer (CKO) responsible for ensuring the speed, accuracy, availability and reliability of the organisations IT Chief security officer (CSO) responsible for ensuring the security of IT systems, and for developing strategies and IT safeguards against attacks from hackers and viruses
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ROLES AND RESPONSIBILITIES IN IT continued

Chief privacy officer (CPO) responsible for ensuring the ethical and legal use of information
Chief knowledge officer (CKO) responsible for collecting, maintaining and distributing the organisations knowledge
IT RESOURCES
GLOBAL IT
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Ch 1: COMPETING IN THE INFORMATION AGE GLOBAL IT continued Global IT and business strategies Business in the global environment
Cultural business challenges Political business challenges Geo-economic business challenges
Ch 1: COMPETING IN THE INFORMATION AGE SECTION 1.1 INFORMATION SYSTEMS IN BUSINESS

Business and the information age The role of IT in business Data, information, BI and knowledge ITs impact on business operations Systems thinking Roles and responsibilities in IT IT R Resources Global IT

Identifying competitive advantages The Five Forces Model: evaluating industry attractiveness The three generic strategies: choosing a business focus Value chain analysis: executing business strategies
Wk 2 S1 2014
LEARNING OUTCOMES
1.5 Explain why competitive advantages are temporary. 1.6 Describe Porters Five Forces Model and explain each of the five forces. 1.7 Compare Porters three generic strategies. 1.8 Demonstrate how a company can add value by using Porters value chain analysis.
IDENTIFYING COMPETITIVE ADVANTAGES

Business strategy a leadership plan that achieves a specific set of goals or objectives, such as:
d developing l i a new product d t or service i entering a new market increasing customer loyalty attracting new customers increasing sales

continued Competitive advantage a product or service that an organisations customers place a greater value on than similar offerings from a competitor
First-mover advantage occurs when an organisation can significantly affect its market share by being first to market with a competitive advantage
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continued Competitive intelligence the process of gathering information about the competitive environment to improve the companys ability to succeed Competitive intelligence tools
Five Forces Model three generic strategies value chain analysis
THE FIVE FORCES MODEL EVALUATING INDUSTRY ATTRACTIVENESS
BUYER POWER
Buyer power high when buyers have many choices of whom to buy from and low when their choices are few Switching cost costs that make customers reluctant to switch to another product Loyalty program rewards customers based on the amount of business they do with a particular organisation
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SUPPLIER POWER
Supplier power suppliers ability to influence the prices they charge for supplies Supply chain consists of all parties involved, directly or indirectly, in the procurement of a product or raw material
THREAT OF SUBSTITUTE PRODUCTS OR SERVICES

Threat of substitute products or services high when there are many alternatives to a product or service, and low when there are few alternatives
THREAT OF NEW ENTRANTS

Threat of new entrants high when it is easy for new competitors to enter a market, and low when there are significant entry barriers
Entry barrier a feature of a product or service that customers have come to expect and that entering competitors must also offer for survival
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RIVALRY AMONG EXISTING COMPETITORS

Rivalry among existing competitors high when competition is fierce in a market, and low when competitors are more complacent
Product differentiation occurs when a company develops unique differences in its products or services with the intent to influence demand
Ch 1: COMPETING IN THE INFORMATION AGE USING THE FIVE FORCES MODEL TO ANALYSE THE AIRLINE INDUSTRY Perform a Porters Five Forces analysis of each of the following for a company entering the commercial airline industry:
Buyer power Supplier power Threat of substitute products/services Threat of new entrants Rivalry among competitors
Ch 1: COMPETING IN THE INFORMATION AGE THE 3 GENERIC STRATEGIES CHOOSING A BUSINESS FOCUS
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VALUE CHAIN ANALYSIS EXECUTING BUSINESS STRATEGIES

Business process a standardised set of activities that accomplish a specific task, such as a specific p process p
Value chain analysis views a firm as a series of business processes that each add value to the product or service
Ch 1: COMPETING IN THE INFORMATION AGE VALUE CHAIN ANALYSIS EXECUTING BUSINESS STRATEGIES continued
Primary value activities Inbound logistics acquires raw materials & resources, & distributes transforms raw materials or inputs into g goods Operations p p & services Outbound logistics distributes goods & services to customers Marketing and sales promotes, prices & sells products to customers Service provides customer support
Ch 1: COMPETING IN THE INFORMATION AGE VALUE CHAIN ANALYSIS EXECUTING BUSINESS STRATEGIES continued Support value activities
Firm infrastructure includes the company format or departmental structures, environment and systems Human resource management provides employee training, hiring and compensation Technology development applies MIS to processes to add value Procurement purchases inputs such as raw materials, resources, equipment and supplies
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Preparation for Week 3 Access Moodle e-Business Reading for Wk 3 3 e Business and Mobile Business Baltzan Text Chapter 3 Prepare for Lab 2 Week 3 MYOB
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INFS5978 Accounting Information Systems

INFS 5978 Accounting Information Systems AIS

Ch 1: COMPETING IN THE INFORMATION AGE SECTION 1.1 INFORMATION SYSTEMS IN BUSINESS

SECTION 1.2 BUSINESS STRATEGY

Copyright 2013 McGraw-Hill Australia Pty Ltd

INFS 5978 AIS S1 2014 Wk 2 Slide 2

Ch 1: COMPETING IN THE INFORMATION AGE

Copyright 2013 McGraw-Hill Australia Pty Ltd

INFS 5978 AIS S1 2014 Wk 2 Slide 3

INFS5978 Accounting Information Systems

Ch 1: COMPETING IN THE INFORMATION AGE

BUSINESS AND THE INFORMATION AGE

Copyright 2013 McGraw-Hill Australia Pty Ltd

INFS 5978 AIS S1 2014 Wk 2 Slide 4

Ch 1: COMPETING IN THE INFORMATION AGE

BUSINESS AND THE INFORMATION AGE

INFS 5978 AIS S1 2014 Wk 2 Slide 5

Ch 1: COMPETING IN THE INFORMATION AGE

THE ROLE OF INFORMATION TECHNOLOGY (IT) IN BUSINESS

Copyright 2013 McGraw-Hill Australia Pty Ltd

INFS 5978 AIS S1 2014 Wk 2 Slide 6

INFS5978 Accounting Information Systems

Ch 1: COMPETING IN THE INFORMATION AGE

DATA, INFORMATION, BUSINESS INTELLIGENCE AND KNOWLEDGE

Copyright 2013 McGraw-Hill Australia Pty Ltd

INFS 5978 AIS S1 2014 Wk 2 Slide 7

Ch 1: COMPETING IN THE INFORMATION AGE

Data raw facts that describe the characteristics of an event or object

Copyright 2013 McGraw-Hill Australia Pty Ltd

INFS 5978 AIS S1 2014 Wk 2 Slide 8

Ch 1: COMPETING IN THE INFORMATION AGE

Information data converted into a meaningful and useful context

Copyright 2013 McGraw-Hill Australia Pty Ltd

INFS 5978 AIS S1 2014 Wk 2 Slide 9

INFS5978 Accounting Information Systems

Ch 1: COMPETING IN THE INFORMATION AGE

Copyright 2013 McGraw-Hill Australia Pty Ltd

INFS 5978 AIS S1 2014 Wk 2 Slide 10

Ch 1: COMPETING IN THE INFORMATION AGE

Knowledge includes the skills,

Copyright 2013 McGraw-Hill Australia Pty Ltd

INFS 5978 AIS S1 2014 Wk 2 Slide 11

Ch 1: COMPETING IN THE INFORMATION AGE

ITs IMPACT ON BUSINESS OPERATIONS

Copyright 2013 McGraw-Hill Australia Pty Ltd

INFS 5978 AIS S1 2014 Wk 2 Slide 12

INFS5978 Accounting Information Systems

Ch 1: COMPETING IN THE INFORMATION AGE

Copyright 2013 McGraw-Hill Australia Pty Ltd

INFS 5978 AIS S1 2014 Wk 2 Slide 13

Ch 1: COMPETING IN THE INFORMATION AGE

Systems thinking a way of monitoring the

Copyright 2013 McGraw-Hill Australia Pty Ltd

INFS 5978 AIS S1 2014 Wk 2 Slide 14

Ch 1: COMPETING IN THE INFORMATION AGE

ROLES AND RESPONSIBILITIES IN IT

Copyright 2013 McGraw-Hill Australia Pty Ltd

INFS 5978 AIS S1 2014 Wk 2 Slide 15

INFS5978 Accounting Information Systems

Ch 1: COMPETING IN THE INFORMATION AGE

ROLES AND RESPONSIBILITIES IN IT continued

Copyright 2013 McGraw-Hill Australia Pty Ltd

INFS 5978 AIS S1 2014 Wk 2 Slide 16