Business IS in Your Career Flashcards
Businesses invest in IT to achieve six important business objectives. What are these 6 objectives?
- Operational excellence
- New products, services, and business models
- Customer and supplier intimacy
- Improved decision making
- Competitive advantage
- Survival
Information systems and technologies help improve efficiency and productivity.
This relates to which of the following business objectives?
1. Operational excellence
2. New products, services, and business models
3. Customer and supplier intimacy
4. Improved decision making
5. Competitive advantage
6. Survival
OPERATIONAL EXCELLENCE
Infromation systems and technologies enable firms to create new products, services, and business models.
This relates to which of the following business objectives?
1. Operational excellence
2. New products, services, and business models
3. Customer and supplier intimacy
4. Improved decision making
5. Competitive advantage
6. Survival
New products, services, and business models
__________________ describes a how a company produces, delivers, and sells it products and services.
BUSINESS MODEL
Customers who are served well become repeat customers who purchase more.
Close relationships with suppliers result in lower costs.
This relates to which of the following business objectives?
1. Operational excellence
2. New products, services, and business models
3. Customer and supplier intimacy
4. Improved decision making
5. Competitive advantage
6. Survival
Customer and supplier intimacy
Real-time data improves ability of managers to make decisions.
This relates to which of the following business objectives?
1. Operational excellence
2. New products, services, and business models
3. Customer and supplier intimacy
4. Improved decision making
5. Competitive advantage
6. Survival
Improved decision making
Business may need to invest in information systems out of necessity, simply the cost of doing business.
Survival
______________________ the hardware and software a business uses to achieve objectives.
INFORMATION TECHNOLOGY
___________________________ are interrelated components that manage information to: support decision making and control and help with analysis, visualization, and product creation.
INFORMATION SYSTEM
________________ are streams of raw facts.
DATA
______________ are data shaped into meaningful, useful form.
INFORMATION
What are the four activities in an information system that produce information?
- Input
- Processing
- Output
- Feedback
What are the three basic activities that produce the information organizations need?
- Input
- Processing
- Output
- Feedback
__________________ is output returned to appropriate people or activities in the organization to evaluate and refine the output.
FEEDBACK
What are the three roles of people and organizations in terms of information system?
- Information systems literacy
- Computer literacy
- Management informations system
What are the three dimensions of information systems?
- Organizations
- People
- Technology
What is the four-step process of problem solving?
- Problem identification
- Solution design
- Choice
- Implementation
This problem solving step includes: agreement that problem exists, definition of problem, cause of problem, and what can be done given resources of firm.
PROBLEM IDENTIFICATION
What are six typical organizational problems?
- outdated business processes
- unsupportive culture and attitudes
- political in-fighting
- turbulent business environment
- complexity of task
- inadequate resources
What are six typical technology problems?
- insufficient or aging software
- outdated software
- inadequate database capacity
- insufficient telecommunications capacity
- incompatibility of old systems with new technology
- rapid technological change
What are six typical people problems?
- lack of employee training
- difficulties of evaluating performance
- legal and regulatory compliance
- work environment
- poor or indecisive management
- lack of employee support and participation
Problem solving is a single event, not a continuous process. True or False?
FALSE. Problem solving is a continuous process, not a single event.
_________________ involves sustained suspenstion of judgment with an awareness of multiple perspectives and alternatives.
Critical thinking
Without ___________________, its easy to jump to conclusions, misjudge a problem, and waste resources.
critical thinking
What are the four elements of critical thinking?
- Maintaining doubt and suspending judgment
- Being aware of different perspectives
- Testing alternatives and letting experience guide
- Being aware of organizational and personal limitations
What are business careers that are affected by informatio systems?
- Accounting
- Finance
- Equities analysts
- Marketing
- Operations management
- Management
- Information systems
____________________ is a fast-changing and dynamic profession because information technologies are among the most important tools for achieving busines firms’ key objectives.
INFORMATION SYSTEMS
What are some common requirements relating to how information systems will affect business careers?
- How IT helps achieve six business objectives
- Central role of databases
- Information analysis, impact of environment
- Working with specialists and systems designers
- Ethical, social, legal environment and issues.
