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CSCI > Exam 1 > Flashcards

Exam 1 Flashcards

1
Q

An advantage over competitors gained by offering consumers greater value, by offering either lower prices or greater benefits and services that justify higher prices

A

Competitive advantage

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2
Q

SWOT

A

Strengths, Weaknesses, Opportunities, Threats

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3
Q

Five Forces Model

A

Threat of substitute products or services, buy power, threat of new entrants, supplier power > Rivalry among existing competitors

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4
Q

IS should ___________ the company’s strategy and mission/purpose.

A

complement/ enable

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5
Q

Reporting profit/ financial performance, business cash flow, and overall financial position

A

Financial Accounting (FI)

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6
Q

A federal accounting document that reports an organization’s revenues and expenses for a given period of time.

A

Income/ Profit Loss Statement. EX: Sales, earnings before interest and taxes.

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7
Q

Defining, recording, and reporting costs and other financial impacts associated with specific operating functions.

A

Cost/ Managerial Accounting (CO)

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8
Q

current assets, cash and cash equivalents, trade receivables, net of allowance for doubtful accounts, anything receivable, inventory

A

Assets

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9
Q

Anything payable, borrowings, long-term borrowings

A

Liabilities

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10
Q

Total equity

A

Equity

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11
Q

The direct costs attributable to the production of the goods/services sold in a company

A

Cost of Goods Sold (COGS)

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12
Q

The amount of money tat a company receives in exchange for goods or services during a specific period, including discounts and deductions for returned merchandise.

A

Sales (Revenue)

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13
Q

Assesses a company’s efficiency at using its labor and supplies in producing goods or services

A

Gross Profit/ Margin

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14
Q

Expenses a business incurs through its normal operations.

A

Operating Expenses (Opex or Overhead)

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15
Q

Measures the amount of profit realized from a business’s operations, after deducting cost of goods sold and operating expenses.

A

Net Profit ( Earnings) (EBIT)

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16
Q

A sequence of tasks or activities that take a set of inputs and convert them to desired outputs

A

Business Process Definition

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17
Q

A process that comprises all of the work that should be done to achieve the process goal. “Cross-functional” in nature. Eliminates as many middle layers or steps as possible to optimize performance and efficiency in any process.

A

End-to-End Business Process

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18
Q

Highly integrated, cross-functional business structure based on information sharing among various business process participants.

A

Enterprise Resource Planning (ERP)

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19
Q

Challenges of ERP

A

Configuration, Implementing

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20
Q

Students should inform instructors ahead of time if they will be absent

A

True

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21
Q

ERP Value

A

Better coordination of activities, information accuracy, better support for global business, Faster

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22
Q

The combination of practices, strategies and technologies that companies use to manage and analyze customer interactions and data throughout the customer lifestyle, with the goal of improving customer service relationships and assisting in customer retention and driving sales growth

A

Customer relationship management (CRM)

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23
Q

Procurement Proposals, Dependent requirements are?

A

MRP main tasks

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24
Q

Plans to EXTERNALLY Procure Raw Materials

A

Purchase Requisitions

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25
Q

Plans to INTERNALLY procure Finished Goods

A

Planned Production Orders

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26
Q

Functionality that looms at demand and checks to see if there is enough supply to meet demand

A

MRP

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27
Q

Demand is for finished goods which is synonymous with Independent Requirements

A

MRP

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28
Q

MRP is important because it…

A

Reduces Waste, Reduces cost, increases customer satisfaction

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29
Q

Buying and selling of goods and services over the internet

A

Ecommerce

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30
Q

Includes e-commerce along with all activities related to internal and external business operations.

A

Ebusiness

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31
Q

Advantages of Ebusiness

A

Expanding global reach, opening new markets, reducing cost, improve operations and effectiveness

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32
Q

Information systems used in manufacturing, to track and document the transformation of raw materials to finished goods. Real-time to enable the control of multiple elements of the production process. Decision makers understand how current conditions on the plant floor can be optimized to improve production output.

A

Manufacturing Information Systems

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33
Q

IT-based set of tools that create a workflow of info for specific teams and members. This allows an individual to share ideas and talents with other members so that the task can be finished both efficiently and effectively. Efficient sharing of documents and knowledge

A

Collaboration Systems

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34
Q

Email, news posts, instant messaging, and chat are all examples of…

A

Communication

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35
Q

groupware software tools consist of real-time collaboration of project members who are presented with a unified view screen.

A

Conferencing

36
Q

The most recdnt collaborative software type and the one with the highest growth potential today.

A

Coordination

37
Q

Productivity, reducing travel, bringing together distributed teams, and globalization are all examples of..

A

Enterprise Collaboration Systems

38
Q

A form of electronic communication through which people create online communities to interact with each other.

A

Social Media

39
Q

Practice of promoting/hosting a customer or employee network.

A

Social Networking

40
Q

Facilities identify who knows each other and who works together, to increase the size and quality of the community.

A

Social Networking Analysis

41
Q

Collecting data from social media sites and evaluating that data to make business decisions. A good way to understand real-time consumer choices, intentions and sentiments.

A

Social Media Analytics

42
Q

Benefits of Social Media to a Business

A

Brand awareness, customer satisfaction, brand loyalty, cost-effective, marketplace insights

43
Q

This class will help students understand “Domain knowledge” (business) and the appropriate application of the right “tools” (information systems)

A

True

44
Q

T/F This class will provide hands on experience with SAP ERP and Salesforce.com

A

True

45
Q

Enterprise Information Systems supports the entire process, not just one part of the process.

A

True

46
Q

ERP Challenges are…

A

Data Migration, Costly, Does not guarantee success

47
Q

SAP is an example of enterprise information system

A

True

48
Q

ERP

A

Enterprise Resource Planning

49
Q

In SAP only one person can change the price at a time

A

True

50
Q

Reports in SAP can be run by multiple users at the same time

A

True

51
Q

Fiori is a component of SAP that provides the user interface to the SAP transactions and data we utilize in the business simulation.

A

True

52
Q

In the SAP simulation, the sequence in which you release planned production orders is unimportant

A

Fasle, it is very important

53
Q

How many types/flavors of cereal can be manufactured simultaneously in the simulation

A

1

54
Q

In the business simulation, the business simulation software must be in operation in order for customer orders to be received by your company.

A

True

55
Q

to log into sap you must select

A

The client, user id, password

56
Q

Enterprise Information Systems supports the entire process, not just one part of the process.

A

True

57
Q

An income statement does not reset at the beginning of each year

A

False

58
Q

Describes what an organization believes in and how it will behave

A

Value statement

59
Q

Describes an organization as it would appear in the future successful state

A

Vission statement

60
Q

Explains the organizations reason for existence

A

Mission statement

61
Q

Performing a SWOT analysis may help a company understand that more investment is needed in information systems

A

True

62
Q

Uber, Airbnb, GrubHub are all examples of what kind of companies with what kind business model?

A

Network Orchestration

63
Q

Capturing financial data and analyzing financial performance is a major role in information systems

A

True

64
Q

What does a balance sheet create an overview of?

A

Assets, Liabilities, Equity. A=L+E

65
Q

MRP will create both planned purchase orders and purchase requisitions if needed

A

True

66
Q

You can release planned production orders even if you don’t have raw materials in stock

A

True

67
Q

MRP stands for

A

Materials requirements planning

68
Q

ERP stands for

A

Enterprise Resource Planing

69
Q

In the SAP sim it is unimportant in which order you release planned production orders

A

False, you need to do this in pairs

70
Q

When MRP is run all Planned Production Orders and Purchase Requisitions are deleted.

A

True

71
Q

Overtime the relationship between business and information systems has…

A

become more overlapping

72
Q

IS enables business through

A

Communication, decision making, business process automation, productivity, customer engagement.

73
Q

Students should contact instructors via email to set up an appointment

A

True

74
Q

If students commit academic misconduct they can..

A

Get a 0 for the assignment, a deduction in final grade, academic misconduct charges

75
Q

Students often give away points on assignments because they fail to read instructions

A

True

76
Q

What technology did the farming video have?

A

robotics, drones, data analytics, self-driving vehicles

77
Q

When leveraging IS…

A

IS should complement a company/ enable the business strategy, IS can benefit any size company, IS utilization should be based upon need, and the company must be able to support and sustain the IS.

78
Q

If two competing products are offered by different companies, the cheapest product will always have the advantage

A

False

79
Q

What is a business

A

An organization that provides goods or services to customers on a commercial bias

80
Q

What are goods

A

Goods are physical or tangible products, like consumer electronics, parts, or cars

81
Q

What are services

A

Services are intangible objects, such as insurance, dental services, and cleaning

82
Q

May be individuals or other businesses

A

Customers

83
Q

Information Systems are…

A

Interrelated components that work together to collect, process, store, and disseminate information, and support decision-making, coordination, control, analysis, and visualization.

84
Q

Four Interrelated IS Trends Improve Business Capability

A

Connectivity, Mobile Devices, Cloud Computing, Data Science

85
Q

Why do businesses exist?

A

To create a customer

CSCI (1 decks)

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