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Management Of Information Systems > Concepts before midterm > Flashcards

Concepts before midterm Flashcards

1
Q

Porters competitive forces model

A

Threat of new competitors
Bargaining power of suppliers
Bargaining power of buyers
Threat of substitutes
Rivalry among existing firms

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2
Q

Strategies for competitive advantage

A

Cost leadership
Differentiation
Innovation
Operational effectiveness
Customer orientation

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3
Q

Strategies for competitive advantage

A

Cost leadership
Differentiation
Innovation
Operational effectiveness
Customer orientation

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4
Q

Types of computer based systems

A

functional area information systems FAIS
Payroll and accounting

Enterprise resource planning ERP
Integrates all organizational systems

Transaction Processing systems TPS
Monitor day-to-day operations

Interorganizational systems IOS
Support supply chain management and ecomerce

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5
Q

Types of computer based systems

A

functional area information systems FAIS
Payroll and accounting

Enterprise resource planning ERP
Integrates all organizational systems

Transaction Processing systems TPS
Monitor day-to-day operations

Interorganizational systems IOS
Support supply chain management and ecomerce

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6
Q

4 types of information systems

A
  1. TPS
    (Transaction Processing Systems): Automates routine transactions.
  2. MIS
    (Management Information Systems): Provides information for decision-making.
  3. DSS
    (Decision Support Systems): Helps make decisions by analyzing data.
  4. EIS
    (Executive Information Systems): Supports higher-level decision-making.
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7
Q

Information system : FAIS

A

functional area information systems

            Payroll and accounting
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8
Q

ERP information system

A

Enterprise resource planning
Integrates all organizational systems

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9
Q

Data Hierarchy 6:

A

Bit → Byte → Field → Record → Table → Database.

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10
Q

KMS Cycle:

A

CCRSMD

	a. Create: Generate new knowledge.
	b. Capture: Document knowledge.
	c. Refine: Improve and ensure knowledge is accurate.
	d. Store: Keep knowledge safe and accessible.
	e. Manage: Maintain the knowledge system.
	f. Disseminate: Share knowledge across the organization.
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11
Q

Limitations of E-Commerce:

A
  1. Security concerns: Lack of universally accepted standards in protecting transactions
  2. Telecommunications bandwidth issues in less-developed countries.
  3. How people feel about the insecurity in e-commerce.
  4. Legal issues remain unresolved.
  5. Lack of critical mass of buyers/sellers in some regions.
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12
Q

Ethical approaches 5

A

a. Utilitarian Approach: Ethical action does the most good or least harm.

b. Rights Approach: Protects and respects the rights of affected parties.

c. Fairness Approach: Treats all humans equally, or fairly if unequal treatment is necessary.

d. Common Good Approach: Respect and compassion for others.

e. Deontology Approach: Actions are right or wrong based on rules, not consequences.

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13
Q

steps for ethics in decision making

A
  1. Recognize the ethical issue
  2. Get the facts
  3. Evaluate alternative actions
  4. Make a decision

5.Act and reflect on the outcome.

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14
Q

Privacy Codes, opt-out and opt-in models

A
  1. Opt-out Model: Users are automatically included unless they opt out.
  2. Opt-in Model: Users must actively choose to participate.
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15
Q

International Privacy Standards

A
  1. Europe: Strong privacy laws (e.g., GDPR).
  2. USA: Less regulated, some state laws (e.g., COPPA, HIPAA).
  3. Canada: PIPEDA governs personal information handling.
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16
Q

Types of Resources for cloud computing

A

a. Virtualized servers: Divides physical servers into virtual ones.

b. Server farms: Large-scale networked servers in data centers.

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17
Q

what are virualized servers?

A

Virtualized servers use software to split a single physical server into multiple virtual ones, maximizing efficiency.

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18
Q

what are server farms?

A

Server farms are large-scale groups of physical servers working together in data centers to handle enormous computing tasks.

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19
Q

six Components of IT Infrastructure:

A

a. Hardware

b. Software

c. Networks

d. Databases

e. People

f, Procedures

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20
Q

Types of Clouds

A
  1. Public Cloud: Available to the general public (e.g., Amazon EC2).
  2. Private Cloud: Exclusive to one organization (e.g., private cloud for Gmail).
  3. Hybrid Cloud: Combination of public and private clouds.
  4. Multicloud: Services from multiple vendors.
  5. Vertical Cloud: Cloud services optimized for specific industries (e.g., automotive).
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21
Q

Cloud Computing Services

A
  1. Infrastructure as a Service (IaaS):
    a. Provides physical infrastructure (CPU, storage).
    b. E.g., Amazon EC2, S3.
  2. Platform as a Service (PaaS):
    a. Application development platforms.
    b. E.g., Google App Engine.
  3. Software as a Service (SaaS):
    a. Complete business applications (end-user focus).
    b. E.g., Google Docs, Salesforce.
  4. Function as a Service (FaaS):
    a. Executes specific functions (e.g., AWS Lambda).
  5. Security as a Service (SECaaS):
    a. Provides security solutions (e.g., AWS Cloud Security).
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22
Q

Benefits of Cloud Computing

A
  1. Improved Accessibility: Employees can access data from any device, anywhere.
  2. Cost Savings: Long-term savings compared to on-premise infrastructure.
  3. Flexibility: Quickly scale resources based on business needs.
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23
Q

Concerns and Risks with Cloud Computing

A
  1. Legacy Systems: Older systems may not easily migrate to the cloud.
  2. Reliability: Cloud systems can suffer from getting old, unlike on-premise setups.
  3. Privacy: Data stored by cloud providers can pose privacy risks.
  4. security
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24
Q
  1. The “Big Three” Cloud Vendors
A
  1. Amazon Web Services (AWS)
  2. Microsoft Azure
  3. Google Cloud
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25
Q

Key Features of cloud computing

A

a. On-demand self-service:

b. Efficient use of resources (grid computing):

c. Fault tolerance and redundancy:

d. Easy scalability (up/down):

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26
Q

CCS

A

I
P
S
F
SEC

27
Q

what do websites that use cloud computing do?

A

Websites that use cloud computing are essentially renting or outsourcing the infrastructure and services needed to run their website or application to a cloud provider, instead of running everything themselves.

28
Q

Types of E-Commerce:

A
  1. B2C (Business-to-consumer): E.g., Amazon.
    1. B2B (Business-to-business): E.g., Mohawk Medbuy, Dell.
    2. C2C (Consumer-to-consumer): E.g., eBay, Kijiji.
    3. B2E (Business-to-employee):
    4. E-Government: E.g., Service Ontario.
    5. M-commerce: Mobile commerce.
    6. Social commerce: E.g., Instagram ads.
    7. Conversational commerce: E.g., chatbots.
29
Q

big data main 3 characteristics

A

Data that is large in volume, generated at high velocity, and has variety in format

30
Q

What is a Transaction Processing System (TPS)?

A

A system supporting real-time data collection from business transactions (e.g., payroll, sales).

31
Q

Define Batch Processing in TPS.

A

Collects data in groups/batches and processes them periodically (e.g., nightly).

32
Q

What is Online Transaction Processing (OLTP)?

A

Processes data instantly as transactions occur, updating records in real-time.

33
Q

List Functional Area Information Systems (FAIS).

A

Accounting/Finance IS, Marketing IS, Production/Ops IS, HR IS.

34
Q

Core ERP modules include…

A

Financial management
operations management
human resources management.

35
Q

Difference between FAIS and ERP?

A

FAIS are department-specific; ERP integrates data organization-wide.

36
Q

Describe MRP and MRP-II.

A

MRP: Inventory control; MRP-II: Adds labor and cash flow to production planning.

37
Q

What’s the Vanilla ERP approach?

A

Minimal customization; standard implementation.

38
Q

What is the SaaS ERP approach?

A

Cloud-based ERP; scalable, lower cost but with security risks.

39
Q

Benefits of ERP?

A

Flexibility, better decision support, improved quality & efficiency.

40
Q

List some ERP limitations.

A

High cost, reliance on best practices, risk of implementation failure.

41
Q

Example of ERP failure risk?

A

FoxMeyer Drugs went bankrupt after a failed ERP implementation.

42
Q

ERP benefits decision-making by…

A

Providing real-time, organization-wide data for faster decisions.

43
Q

ERP system integration improves…

A

Order fulfillment, real-time inventory, and customer order tracking.

44
Q

Define Best-of-Breed ERP.

A

Mixes ERP modules from various vendors for customized fit.

45
Q

Why is CRM important?

A

Focuses on customer satisfaction, loyalty, and is cheaper to retain customers than acquire new ones.

46
Q

What does CRM stand for?

A

Customer Relationship Management.

47
Q

Describe the 80/20 Rule in CRM.

A

20% of customers generate 80% of profits.

48
Q

Key elements of a customer-centric approach?

A

Identification,
differentiation
interaction
customization.

49
Q

What is Collaborative CRM?

A

Integrates all customer interactions (marketing, sales, service).

50
Q

What does RFM stand for in CRM?

A

Recency, Frequency, Monetary value.

51
Q

List the CRM process steps.

A

Target customers → Segment into high/low-value → Reduce churn.

52
Q

Difference between CRM strategy and CRM system?

A

Strategy = customer focus; System = tools supporting strategy.

53
Q

Define Customer Touch Points.

A

Methods of customer interaction: traditional (calls) & digital (web, email).

54
Q

What is the 360-degree view in CRM?

A

Complete, integrated customer data accessible to all employees.

55
Q

Three phases of CRM evolution?

A

Reporting, Analysis, Predicting.

56
Q

Operational CRM vs. Analytical CRM?

A

Operational = front-office interactions; Analytical = back-office data analysis.

57
Q

Examples of Customer-Facing CRM?

A

Call centers, sales force automation (SFA), marketing campaigns.

58
Q

Examples of Customer-Touching CRM?

A

Self-service options like FAQs, loyalty programs, chatbots.

59
Q

Purpose of Analytical CRM?

A

Uses data analysis to improve decision-making and predict trends

60
Q

Define Cross-Selling.

A

Recommending related products based on past purchases.

61
Q

Role of AI in CRM?

A

Insights, automated support, lead scoring, sentiment analysis.

62
Q

What is Upselling?

A

Offering higher-value or premium products to customers.

63
Q

Example of CRM metrics?

A

Customer retention, revenue per customer, service costs.

Management Of Information Systems (11 decks)

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