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DSS > 2 > Flashcards

2 Flashcards

1
Q

What does Porter’s five forces model suggest entering the market with?

A

Competitive advantage in

  1. Cost leadership
  2. Product differentiation
  3. Focus
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2
Q

What is the most difficult decision managers face?

A

Making decisions

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3
Q

What are the three main problems managers face in decision making?

A
  1. analyzing large amounts of information
  2. quick decisions
  3. sophisticated analysis techniques
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4
Q

What has increased the number of variables a person has to consider when making a decision?

A

improvments in communication and globalization

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5
Q

What is the science of fact-based decision making?

A

analytics

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6
Q

What is the six-step decision making process?

A
  1. Problem Identification
  2. Data collection (facts about case)
  3. Solution Generation
  4. Solution Test
  5. Solution Selection
  6. Solution Implementation (feedback)
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7
Q

At what level do employees develop, control, and maintain core business activity required for day-to-day operations

A

Operational Level

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8
Q

what kinds of decisions do operational level employees make?

A

Structured (Programmed) decision

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9
Q

What are some examples of structured decisions?

A

how many out sick? How much needs to be made today?

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10
Q

What is the time frame of operational level decisions?

A

short, day-to-day

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11
Q

What is the focus of operational level decisions?

A

internal, functional

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12
Q

What is the MIS type of operational level decisions?

A

information

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13
Q

What is the key metric of operational level decisions?

A

focused on efficiency

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14
Q

At what level of decision making are employees constantly evaluating company operations to help indentify, adapt to, and leverage change

A

managerial decision making

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15
Q

What does a company that has a competitive advantage need to do?

A

constantly adjust and revise its strategy

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16
Q

What kinds of decisions do managers make?

A

semistructured decisions

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17
Q

What are semistructured decisions?

A

few established processes help to evaluate situations, but no definite answer

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18
Q

What is the focus of managerial level decisions?

A

Internal, crossfunctional (sometimes external)

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19
Q

What is the time frame of managerial level decisions?

A

short term, daily, weekly, monthly, yearly

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20
Q

What is the MIS type of managerial level decisions?

A

Business Intelligence

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21
Q

What are the metrics of of managerial level decisions?

A

efficiency and critical success factors of effectiveness

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22
Q

What are some examples of managerial level decisions?

A

Who are our best customers by region, product type. . .

What was the impact of last month’s marketing campaign?

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23
Q

At what level do managers develop overall business strategies, goals, and objectives as part of the company’s strategic plan

A

Strategic level

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24
Q

What type of decisions do strategic level managers make?

A

Unsctructured (Non-program) decisions

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25
Q

What are some examples of strategic level decisions?

A

What is the industry trend for the next 3 years?
Which trends are worth analyzing
How can we prepare for new tax laws.

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26
Q

A temporary activity a company undertakes to create a unique product, service, or result

A

project

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27
Q

measurements that evaluate results to determine whether a project is meeting its goals

A

metrics

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28
Q

What are two core metrics?

A

critical success factors and key performance indicators

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29
Q

the crucial steps companies perform to achieve their goals and objectives and implement their strategies

A

Critical success factors

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30
Q

quantifiable metrics a company uses to evaluate progress toward critical success factors

A

Key performance indicators

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31
Q

Are KPIs or CSFs more specific?

A

KPIs

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32
Q

What is a common extermal KPi which tells the proportion of the market that a firm captures?

A

Market share

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33
Q

How is market share determined?

A

firm’s sales/total market sales in industry

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34
Q

What is a common internal KPI which indicates the earning power of a project

A

return on investment

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35
Q

What are the most successful solutions or problem-solving methods that have been developoed by a specific organization or industry?

A

best practices

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36
Q

Wha tmeasure the perfrormance of MIs itself, such as throughput, transaction speed, and system availability

A

Efficiency MIS metrics

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37
Q

What measure the impact MIS has on Business process and activities, including cutomer satisfaction and customer conversion rates

A

Effectiveness MIS metrics

38
Q

baseline values a system seeks to attauin

A

benchmarks

39
Q

process of continuously measuring system results, comparing those results to optimal system performance, and identifying steps and procedures to improve system proformance

A

Benchmarking

40
Q

a simplified representation or abstraction of reality

A

model

41
Q

What emcompasses all the information contained within a single business process or unit of work, and supports the performance of daily operation or structured decisions

A

Transactional information

42
Q

When is transcational information created?

A

Purchasing stock, making airline reervation, ATM use

43
Q

What is the capture of transaction and event information?

A

Online transaction processing OLTP

44
Q

What are the goals of OLTP?

A
  1. Process the information according to defined business rules
    2 Store the information
  2. Update existing information to reflect the new information
45
Q

the basic business system that serves the operation level and assists in making structured

A

Transaction processing system TPS

46
Q

What is a common example of a TPS?

A

payroll system

47
Q

What are the inputs for a TPS?

A

source documents

48
Q

What are source documents?

A

the original transcation record (time sheets, etc)

49
Q

What are theprocesses a TPS engages in?

A

Creating, reading, updating, and deleting (CRUD)

50
Q

What is the output of a tPS?

A

reports

51
Q

emcompasses all the organizational information

A

Analytical information

52
Q

What is the primary purpose of analytical information?

A

support the perfomance of managerial analysis or semistructured decision

53
Q

What are examples of analytical information?

A

trends, sales, product, statistics, etc

54
Q

What is the manipulation of information to create business intelligence in support of strategic decision making?

A

Online analytical processing (OLAP)

55
Q

what model information using OLAP, which provides assistance in evaluating and choosing among different courses of action?

A

Decision support systems (DSSs)

56
Q

What are four common DSS analysis techniques?

A

What-if Analysis
Sensitivity Analysis
Goal Seeking Analysis
Optimization Analysis

57
Q

checks the impact of a change in a variable or assumption of the model

A

What-if analysis

58
Q

a special case of what-if analysis, is the study of the impact of other variables when one variable is changed repeatedly

A

sensitivity analysis

59
Q

finds the inputs necessary to achieve a goal such as a desired level of output.

A

goal seeking analysis

60
Q

an extension of goal-seeking analysis, finds the optimum value for a target variable by repeatedly changing other variables, subject to specific constraints

A

optimization analysis

61
Q

What is a specialized DSS that supports senior-level executives and unstructured, long-term nonroutine decisions requiring judgment, evaluation and insight

A

executive information system

62
Q

What refers to the level of detail in the model or decision-making process

A

granularity

63
Q

prodcues graphical display of patterns and complex relationships in large amounts of detail

A

visualization

64
Q

what tracks KPIs and CDFs by compiling information from multiple sources and tailoring it meet user needs?

A

digital dashboard

65
Q

What simulates human thinking and behavior, such as the ability to learn and reason

A

artificial intelligence.

66
Q

What are commercial applications of AI called?

A

Intelligent Systems

67
Q

What are expert systems?

A

computerized advisory programs that imitate the reasoning of experts.

68
Q

Which Intelligent System is most common in business?

A

Expert Systems

69
Q

What are some examples of Expert Systems

A

Chess, Doctor

70
Q

What form of AI tries to emulate human nueral processes?

A

Neural Network

71
Q

Who relies heavily on Neural Networks?

A

Finance, Credit Card Fraud

72
Q

What is a mathematical method of handling imprecise or subjective information?

A

fuzzy Logic (investments)

73
Q

Artificial intelligence that mimics evolutionary survival-of-the-fittest process to create better and better solutions through mutations

A

Genetic Algorithm

74
Q

What are some examples of genetic algorithms?

A

Investment decision, competitive intelligence

75
Q

special purpose, knowledge-based infromation system that accomplishes specific tasks for users

A

intelligent agent

76
Q

A type of intelligent agent software that searches retailer websites for buying and selling at the best price

A

shopping bot

77
Q

computer simulated environment that can be a simulation of the real world or an imaginary world

A

Virtual Reality

78
Q

viewing the world with computer generated layers of info added

A

augmented reality

79
Q

What type of process results in a product or service received by an organization’s external customer

A

Customer facing (front office) process

80
Q

What type of process is invisible to the external consumer but are essential to the effective managing of a business (goal setting, planning)

A

Business facing (back office) process

81
Q

business processes, such as manufacturing, selling, and providing services that make up the primary activities in the value chain

A

core processes

82
Q

uses a systematic approach in an attempt to improve business effectiveness and efficiency continuously

A

static process

83
Q

continuously changing process and provides business solutions to ever changing business operations

A

dynamic process

84
Q

What is creating a flowchart or process map of a business process that contains inputs, tasks, and activities in a structured sequence

A

Business process modeling, mapping

85
Q

a graphic description of a business process

A

business prcoess model

86
Q

a graphical notation that depicts the steps of a business process

A

Business process model and notation

87
Q

includes the tasks, activities, and responsibilities required to execute each step of the business process

A

workflow

88
Q

monitors processes to ensure tasks, activities, and responsibilities are executed as specified

A

workflow control system

89
Q

static, routine, daily business processes such as stocking inventory?

A

operational business process

90
Q

How are operational level processes improved?

A

automation

DSS (6 decks)

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