3.5 - Business System

Question 1

What is a Management Information System (MIS)?

Answer 1

A system for collecting, storing, and analyzing organizational data.

Question 2

What are the functions of MIS?

Answer 2

Displays financial status, highlights areas of improvement, and generates sales forecasts.

Question 3

What is the purpose of MIS?

Answer 3

Processes large amounts of data and organizes it in databases to provide managers with the information they need to make decisions.

Question 4

How can MIS be used in a bank?

Answer 4

To track the number of customers visiting each branch, identify unregistered customers for targeting, profile customers, and forecast takings.

Question 5

What is decision making in the context of MIS?

Answer 5

The process of making choices based on data analysis and highlighting areas that require improvement in a company.

Question 6

What is an integrated system?

Answer 6

A system that shares large amounts of data from multiple departments.

Question 7

What is data backup?

Answer 7

Centralized storage of data to prevent loss.

Question 8

What is powerful analysis in MIS?

Answer 8

Uses large datasets to provide accurate data analysis, such as trend patterns.

Question 9

What are the positives of MIS?

Answer 9

Integrated system, decision making, powerful analysis, and backup capabilities.

Question 10

What are the limitations of MIS?

Answer 10

Expensive, requires technical knowledge, relies on accurate data, and training can be time-consuming.

Question 11

What is Customer Relationship Management (CRM)?

Answer 11

A system to collect customer data and analyze it to improve relationships and increase customer loyalty.

Question 12

Where is CRM used?

Answer 12

In marketing teams to track promotions and in customer service to respond to complaints.

Question 13

What are the benefits of CRM?

Answer 13

Centralizes customer data, increases worker productivity, enables automatic emails, and builds long-lasting relationships.

Question 14

What are the limitations of CRM?

Answer 14

Security issues with sensitive data and the need for extensive planning when shifting from manual to digital systems.

Question 15

What is the purpose of a Sales Operating Procedure (SOP)?

Answer 15

Provides step-by-step instructions for employees to carry out tasks.

Question 16

Why do organizations use SOP?

Answer 16

To follow legal requirements at a high quality.

Question 17

What are the benefits of a Sales Operating Procedure?

Answer 17

Ensures consistency and reduces errors by having all employees follow the same procedures.

Question 18

What are the limitations of a Sales Operating Procedure?

Answer 18

Can be inflexible and requires updates for legal changes.

Question 19

What is the purpose of the Sales Ordering Process (SOP)?

Answer 19

To process customer purchases and review orders.

Question 20

What are the steps in the Sales Ordering Process?

Answer 20

1) Customer orders product through phone/network. 2) Order confirmed, sales order created. 3) Order sent to relevant departments. 4) Customer receives invoice.

Question 21

What is an invoice?

Answer 21

A document/receipt indicating the type of order and payment amount, sent via email.

Question 22

What is a help desk?

Answer 22

A system that allows employees to provide real-time support for client problems.

Question 23

How does the help desk process work?

Answer 23

User sends a ticket for help, technician receives it, follows service level agreements, and closes the ticket once resolved.

Question 24

What are the benefits of a help desk?

Answer 24

Keeps track of issues, prioritizes problems, archives tickets for future reference, and facilitates communication.

Question 25

What are the limitations of a help desk?

Answer 25

Technician availability, time-consuming formal structure, need for ongoing training, and pressure for timely responses.