INFORMATION TECHNOLOGY AND E-COMMERCE MANAGING INFORMATION, KNOWLEDGE, AND BUSINESS RELATIONSHIP 1

INFORMATION A SET OF DATA, FACTS, NUMBERS, AND WORDS THAT HAS BEEN ORGANIZED IN SUCH A WAY THAT IT PROVIDES ITS USERS WITH KNOWLEDGE. EXAMPLE: 20, 11. 5, 8, 49, 12, 38 5, 8, 11, 12, 20, 38, 49 2

KNOWLEDGE WHAT A PERSON PERCEIVES, RECOGNIZES, IDENTIFIES, OR DISCOVERS FROM ANALYZING DATA AND INFORMATION 3

LEARNING AN INCREASE IN THE STORE OR STOCK OF PEOPLE’S XPERTISE OR KNOWLEDGE. 4

INFORMATION TECHNOLOGY THE MANY DIFFERENT KINDS OF COMPUTER AND COMMUNICATIONS HARDWARE AND SOFTWARE AND THE SKILLS OF THEIR DESIGNERS, PROGRAMMERS, MANAGERS, TECHNICIANS WHO CREATE AND MANAGE IT 5

ORGANIZATIONAL LEARNING MANAGING INFORMATION AND KNOWLEDGE TO ACHEIVE A BETTER FIT BETWEEN A COMPANY’S BUSINESS MODEL AND THE FORCES IN ITS ENVIRONMENT 6

USEFUL INFORMATION AND KNOWLEDGE COMPLETE, A COMPLETE PICTURE OF A SITUATION, SALIENT FACTS OR DATA THAT WOULD ALTER A MANAGER’S ASSESSMENT OF A SITUATION CANNOT BE OMMITED. ACCURATE AND RELIABLE, THE USEFULNESS OF INFORMATIONA IS A FUNCTION OF ITS ACCURACY AND RELIABILITY. THE GREATER ITS PRECISION AND FREEDOM FROM ERROR, THE MORE LIKELY THE INFORMATION IS TO BE TRULLY INSIGHTFUL, AND THE MORE CONFIDENT MANAGERS CAN BE BASING THEIR DECISION ON IT. 7

RELEVANT, INFORMATION THAT MANAGER TRULLY NEEDS AND WHAT IS RELEVANT IN A PARTICULAR PROBLEM- SOLVING SITUATION. TIMELY, INFORMATION THAT IS AVAILABLE WHEN IT IS NEEDED. REAL- TIME INFORMATION: INFORMATION THAT IS CONSTANTLY UPDATED. 8

CHARACTERISTICS OF USEFUL INFORMATION USEFUL INFORMATION COMPLETE RELEVANT TIMELY ACCURATE AND RELIABLE 9

GAINING A COMPETITIVE ADVANTAGE WITH IT SUPERIOR PRODUCTIVITY, WITH I.T., MANAGERS CAN IMPROVE PRODUCTIVITY OF A PARTICULAR FUNCTION USING DATA AND INFORMATION ABOUT EACH INDIVIDUAL TASK AND OPERATION INVOLVED IN A FUNCTIONAL ACTIVITY. SUPERIOR QUALITY, WITH I.T., MANAGERS ARE ABLE TO ACCURATELY ANALYSE THE INDIVIDUAL OPERATION NEEDED TO MAKE A PRODUCT TO IDENTIFY THE POSSIBILITY PROBLEMS AND TAKING A CORRECTION ACTION. 10

SUPERIOR INNOVATION, I.T. CAN SPEED UP PRODUCT INNOVATION. SUPERIOR CUSTOMER RESPONSIVENESS, I.T. FACILITATES A COMPANY’S RESPONSIVENESS TO ITS CUSTOMERS. I.T. SYSTEMS CAN CREATE A PROPFILE OF EACH OF THEIR CSTOMERS: LIKES AND DISLIKES, BUYING HABITS. 11

MAJOR INFORMATION TECHNOLOGY APPLICATION TRANSACTION PROCESSING SYSTEMS, AN I.T. SYSTEM DESIGNED TO COLLECT, RECORD, AND MANIPULATE THE DATA RELATED TO A COMPANY,S DAY-TO-DAY BUSINESS OPERATIONS. KNOWLEDGE MANAGEMENT SYSTEM, AN I.T. SYSTEM THAT ANALYZES THE INFORMATION COLLECTED FROM THE TP SYSTEM BUT FILTERS AND ANALYZES IT TO MAKE IT MORE USEFUL TO MANAGERS 12

EXPERT SYSTEMS, AN ADVANCED I.T. SYSTEM THAT CAN REASON THROUGH A COMPANY’S INFORMATION, DIAGNOSE PROBLEMS, AND SUGGEST SOLUTIONS. ARTIFICIAL INTELLIGENCE, AN I.T. SYSTEM THAT REASONS AND LEARNS LIKE A HUMAN BEING ENTERPRISE RESOURCE PLANNING SYSTEMS, MULTIMODULE APPLICATIONS SOFTWARE PACKAGE THAT COORDINATE ALL OF A COMPANY’S FUNCTIONAL ACTIVITIES. ERP SYSTEMS: 1) HELP INDIVIDUAL FUNCTIONS IMPROVE THEIR OPERATIONS, 2) IMPROVE THE INTEGRATION BETWEEN FUNCTIONS E-COMMERCE, TRADE THAT TAKE PLACE BETWEEN COMPANIES, AND BETWEEN COMPANIES AND INDIVIDUAL CUSTOMERS VIA THE INTERNET. 13