Final Exam Flashcards
An information system is an organized collection of ________, ______________, ______________ _______________, and ______________ _______________, designed to transform inputs into outputs, in order to achieve a goal.
people information business processes information technology
What is the IPO model of an information system?
A business process is a sequence of tasks or activities that take a set of inputs and convert them into desired outputs.
What are FIVE other components of IT?
1) Accepting and storing data and information 2) Performing mathematical calculations 3) Applying logic to make decisions 4) Retrieving, displaying, and sending information 5) Consistently repeating the above actions many times
Is the internet a network or an application?
NETWORK
Is the World Wide Web a network or an application?
APPLICAˇION
_-_____________ is the use of _______________ ___________, _______________, and ______________ ______________ by individuals and organizations to carry out ______________ in order to create or support the creation of ______________ _________.
E-commerce information systems technologies computer networks transactions business value
There are 4 stages of E-Commerce. What are these four generations?
1st - Establishing a web presence 2nd - Providing interaction 3rd - Secure order and pay 4th - Transforming processes
What are the four organizational structures?
1) Functional 2) Decentralized by product 3) Decentralized by geography 4) Matrix structures
How are the lines of authority oriented in functional and decentralized organizational structures?
Vertically
What is a matrix organization and it’s important element?
It is a blend of functional and decentralized organizations where an important element is the use of teams.
What is a Value Chain?
is a connected series of activities, each of which adds value or supports the addition of value to the firm’s goods and services.
Every action an organization takes is either a ___________ or ____________ activity.
primary support
___________ __________ are directly related to the production and distribution of the organization’s products and services that create _____________ ____________ for the organization and its ___________.
Primary activities business value customers
Activities that an organization conducts to support the creation of business value.
Support activities
What information system is specific to enterprises and what are the two particular parts?
Enterprise systems centralized database and coordinated software modules
IT can be applied to value chain activities and impact change in what three ways?
Automating Informating Transforming
Automating
Uses technology to perform tedious or repetitive tasks faster, cheaper, more consistently, and with greater accuracy.
Informating
Recognizing the executing process also creates new data and information
Transforming
Seeks to use IT to acquire or continue a competitive advantage over competition.
What are the two advantages of transforming IT for a company?
Cost advantage - when it delivers the same benefits to customers as its competitors at a lower cost. Differentiation advantage - when it delivers superior benefits to customers.
A ______________ consists of interrelated records that are stored in files for easy access of specific pieces of data.
Database
A collection of software that allows users to create and work with a database.
Database Management System (DBMS)
Advantages of Database Management Systems for Data Organization (2)
Data organization is independent of any one software application. Data can be organized in a manner that reduces redundancy.
Advantages of Database Management Systems (3 Features)
Maintaining quality Handling security Synchronizing access by simultaneous users
Advantages of Database Management Systems (3 Capabilities)
Improved data access Allowing different views of data for different users Report generation
What is Business Intelligence?
A process for gaining competitive advantage through the intelligent use of data and information in decision-making.
What are the FIVE stages data and information go through to be used in decision-making?
1) Data sourcing 2) Data analysis 3) Situation awareness 4) Risk assessment 5) Decision support
What is data sourcing?
Mining data and information from text documents, images, media files, and Web pages.
What is Data Analysis?
Producing useful knowledge from collected data and information
What is Situation Awareness?
Culling out and relating the useful facts and knowledge in the decision-making process.
Risk Assessment
Identifying decision options and evaluating them.
Decision Support
Using interactive software tools to identify and select intelligent decisions and strategies.
The application of knowledge skills, tools, and techniques to project activities to deliver requirements in order to meet or exceed stakeholder needs and expectations.
Project Management
Project Management is the application of ___________ _______, _______, and ___________ to project activities to deliver requirements in order to meet or exceed _____________ needs and expectations.
Knowledge skills Tools Techniques Stakeholders
What three things are included in project management?
1) developing the project plan 2) executing the project plan 3) coordinating changes to the project plan
The job of _______ _________________ is to ___________, _____________, and ___________ sources of risk before they become a threat to the successful completion of the project.
risk management recognize address eliminate
What are FIVE common areas of project risk?
1) Feature creep 2) Shortchanged quality 3) Inadequate design 4) Overly optimistic schedule 5) Weak personnel
What are functional information systems? What do they support and benefit?
Information systems that only support ONE functional area of an organization.
They can help a functional area be more efficient but they lack the ability to communicate to other functional area systems to help complete the entire process efficiently.
What are the process problems with functional approach?
Delays
Excess Inventory
Lack of visibility across the process
How do enterprise systems differ from functional systems?
They support processes across the entire organization rather than just parts of the organization. They integrate all functional areas together, enhancing effectiveness and speed of the process. Also provides better visibility, reduces delays and inventories, and improve service.
What are the three roles of the Enterprise System?
1) execute the process
2) capture and store process data
3) monitor performance
Key Process Flows
Physical flows refer to … ?
What is created as the process steps are executed and what is it captured in?
Physical flows are the physical steps executed in the process.
Data is what is created and accumulated, which is captured in documents.
Activities and Financial Impact
Must involve what? And exchange what?
Must involve an external entity
An exchange of value
What is a Balance Sheet?
Information is categorized by what three things?
Represents the state of an organization at a point in time.
Information is categorized as: Assets, Liabilities, and Shareholder Equity.
What is an Income Statement?
Information is categorized by what two things?
Represents the state of an organization of a given period of time, such as one year.
Information is categorized as Revenue and Expense.
What are the three stages of evolution for enterprise systems?
Stage 1: Stand-alone Mainframe Systems
Stage 2: Client-Server Architecture
Stage 3: Service-Oriented Architecture
Hierarchical Perspective
What are the three information systems?
Who are they managed by?
What are the three types of enterprise systems?
1) Enterprise Resource Planning
2) Supply Chain Management
3) Customer Relationship Management
What is Enterprise Resource Planning?
A set of information system tools used to manage an organization’s resources enabling information flow within and between processes and departments.
Enterprise Resource Planning support intergration by using what three things?
Modules
Integrated Data
Centralized Database
What is Supply Chain Management?
Involves managing the flow of goods in the supplier and distribution channels with a primary focus of reducing inventory costs.
How can Supply Chain Management improve an organization’s relationships with its partners in the supply chain?
More accurately and timely communcation about the flow of products, information, and financial flow.
A good Supply Chain Management provides what capability for inventory?
Just-In-Time inventory that allows a company to maintain the lowest level of inventory by producing or delivering goods or services at the time needed to fulfill demand.
What are the three goals of Customer Relationship Management?
1) Manage multiple channels of interaction with customer
2) Provide a unified view of customer across the enterprise
3) Analyze information collected to improve marketing, services, and products
What are the three components of Customer Relationship Management?
1) Operational - helps improve daily interactions with customers
2) Collaborative - help interact and collaborate with customers
3) Analytical - technologies to analyze customer data
What is the Customer Service Life Cycle?
One framework might involve what 4 phases?
A framework to help understand the various tasks that one can use a CRM for by identifying a series of phases through which a customer will pass.
- Enage - create customer awareness of product or service
- Transact - complete the purchase process
- Fulfill - deliver product or service to customer
- Service - post-sales support
What are Customer Managed Interactions in CRM systems?
Focus on existing data that the company chooses to collect.
Customers store and manage data about themselves.
In this way companies acquire information about customer activities that are unforseeable unless the customer tells the company about it.
What three types of DATA are in Enterprise Systems?
- Organizational Data - defines the organizational structure of the enterprise
- Master Data - not related to any specific process but defines key entities in an organization (customers, venders/suppliers, products, employees)
- Transaction Data - data that is the consequence of day-to-day business process activities or task
What are the SIX processes of the Procurement Process Flow and what documents are involved?
- Recognition of need and creation of a purchase requisition
- Purchasing approves, creates a purchase order and sends to supplier
- Supplier ships material accompanied by a packing list
- Goods Receipt Document is created internally
- Accounting receives invoice, matches to PO and Goods Receipt, and schedules payment
- Payment to supplier closes the process
Three-Way Match
- Manual
- Automated
- Manual - the person who recieves the invoice for an order checks to make sure the total on the invoice is accurate with the information on the purchase order and goods receipt document.
- Automated - when the invoice data is entered, the system checks to make sure the invoice has the same terms and price per unit as the purchase order and also checks to see if the quantity of products that were invoiced match up with the quantity received on the goods receipt.
Free-On-Board (FOB)
The point at which ownership of the material in the shipment legally transfers from one company to other.
Payment Terms
Define how the company is to pay the vendor. In most cases, payment is due so many days after the date the company receives the invoice or the date it receives the shipment, whichever is later. Declared by buyer in Purchase Order and by seller in Quotation.
Quantity Discount
Price reductions that suppliers offer when customers purchase large quantities of materials.
Backordered Quantity
Quantity of the order that has not been shipped with that packing list. These goods will be shipped at a later date.
Mode of Shipment
Preferred way of sending the requested products.
What are the two points in the Procurement process where there is financial impact and what document is affected?
- When the buyer receives the goods that were ordered
- When the buyer pays the invoice
- The Balance sheet is affected in both cases. No effect on Income Statement
What are the EIGHT steps of the Fulfillment Process Flow and what documents are involved?
- May start with customer sending an inquiry
- Company responds with a quotation
- If interested in buying, customer sends a Purchase Order
- Sales order is created internally
- Based on sales order, a picking document tells what items are required
- Packing list is created to accompany shipment
- Shipment triggers the creation of an invoice
- Customer payment closes the process
Sell-from-Stock
Sell products directly from finished goods inventory
Typically higher volume, low-cost products
Configure-to-Order
Base product that can be customized to customer requirements.
Typically higher cost, lower volume products
Stock-Out
Insufficient products to meet requested delivery date
Storage Location
Where products are stored in warehouse
Open Quantity
Remaining amount on a backorder to be delivered
Delivered Quantity
Quantity on Packing List
What are the two points in the fulfillment process where there is financial impact and what documents are affected?
- When the seller ships the goods that were ordered
- When the seller receives payment of the invoice
- In the first case, both the Balance Sheet and Income Statement are affected but in the second case only the Balance Sheet is affected.
