Chapter 6

Question 1

what is a management information system

Answer 1

a system to convert data from external and internal sources into info and to communicate the info to management to enable them to make timely and effective decisions

Question 2

how can be integrate management systems

Answer 2

an enterprise resource planning system such as SAP or Oracle

Question 3

what teams can access ERP system

Answer 3

finance, HR, marketing, accounting, can also link to customers and suppliers

Question 4

what is lean information

Answer 4

aims to get the right info, to the right people, at the right time with minimum waste

Question 5

what is the 5s model used for

Answer 5

to evaluate current systems or to implement lean systems

Question 6

what are the 5 S’s

Answer 6

Structurise - prioritise
Systemise - so things can be found easily
Sanitise - keep environment tidy
Standardise - set standards
Self discipline - ensure staff are motivated to keep making improvements

Question 7

things to consider of an industry of their method of processing and recording data

Answer 7

volume and complexity of data

level of accuracy

speed of info required

size and structure

nature of the industry

Question 8

what else is ERP known as

Answer 8

unified corporate databases

Question 9

benefits of unified corporate databases

Answer 9

integrates data from different functions

all deps share the same info

its in real time

Question 10

what is radio frequency identification

Answer 10

a tag on an asset to track them - can be used on patients in a hospital

Question 11

what does network technology enable

Answer 11

people to log into the network as if they were in the office

Question 12

what is cloud computing

Answer 12

on demand network access that requires minimal effort from management and minimal communication with the service provider

Question 13

what is process automation

Answer 13

use of digital technology to automate business processes

Question 14

what is big data

Answer 14

high volume, high velocity and or high variety information assets that demand cost effective, innovative forms of information processing that enable enhanced insight, decision making and process automation

Question 15

what can big data analytics improve

Answer 15

understanding of customer behaviour - identifying potential ways to improve service from what customers are saying on social media

targeted marketing messages - tailored recommendations of products

decision making

new products and services - amazon recommend products to you based on what similar customers buy

Question 16

risks and challenges with big data

Answer 16

quality - could be unreliable
veracity - needs to be cleaned for any fake
cost
skills - need employees who know how to analyse it
loss and theft of data - can face legal action if this happens

Question 17

what is artificial intelligence

Answer 17

systems that sense, comprehend, act and learn

Question 18

example of IA - product development

Answer 18

data collected from sensors to make prototypes

Question 19

example of IA - manufacturing

Answer 19

robotic arms on an assembly line can develop their own approach to production

Question 20

example of IA - delivery

Answer 20

robots deliver things round warehouse

Question 21

drawbacks of IA

Answer 21

distrust from customers

system malfunctions

misuse - humans do things their own way

Question 22

what needs to be considered when designing a performance report

Answer 22

strategic relevance - does it provide info on KPI’s relevant to the companies objectives

audience - is there an appropriate level of detail for who will be using it - there will need to be narrative explanations

non financial info such as customer satisfaction is hard to present - percentages should be compared to total figures to assess relevance

layout - is it clear

Question 23

what are the 6 capitals

Answer 23

financial - funds available
human - alignment and support for business objectives
manufactured - physical assets
natural - areas where a business impacts the environment
social - stakeholder relationships
intellectual - intangible assets