Info Systems In Business

Question 1

Computer literacy

Answer 1

Skills in using productivity software, as well as having knowledge of hardware/software, the internet & collab tools

Question 2

Information literacy

Answer 2

Understanding the role of information in generating and using business intelligence

Question 3

Business intelligence (BI)

Answer 3

Provides historical, current, and predictive views of biz operations $ environments & gives orgs a competitive advantage in the market

Question 4

Transaction processing systems (TPSs)

Answer 4

Focuses on data collection & processing, major reason for use of cost reduction

Question 5

Management information systems (MIS)

Answer 5

An organization of hardware & software tech, data, human process and human elements designed to create useful info for decision making

Question 6

Data

Answer 6

Raw facts, and a component of an information system

Question 7

Database

Answer 7

A collection of all relevant data organized in a series of integrated files

Question 8

Process

Answer 8

This part of a info system generates the more useful type of info for decision making

Question 9

Information

Answer 9

Facts that have been analyzed by the process component & is an output of an information system

Question 10

Strategic Information Systems (SISs)

Answer 10

Focus on big-picture, only term goals and objective to assist an org or decision maker to achieve them

Question 11

Information technologies

Answer 11

Support information systems that use the internet, computer networks, database systems, POS systems, and RFID tags.

Question 12

Five Forces Model

Answer 12

Analyzes an org & its position in market, and how info systems can be used to make it more competitive.

Question 13

Information is the ____ most important resource

Answer 13

2nd, after the human element

Question 14

4 M’s of resources

Answer 14

Manpower, machinery, materials, money

Question 15

PIS and HRIS

Answer 15

Personal information system/Human resource information system. Provides info for personnel to do task effectively.

Question 16

LIS

Answer 16

Logistics information system. Reduce cost of transporting material & maintains safe and reliable delivery

Question 17

MFIS

Answer 17

Manufacturing Info System. Reduces costs, increases product quality, improve inventory decisions, manage manufacturing resources

Question 18

FIS

Answer 18

Financial Information system. Provides info to financial executives

Question 19

MKIS

Answer 19

Marketing info system. Improve marketing decisions, 4 P’s, provides good info about marketing

Question 20

4 P’s

Answer 20

Price, promotion, place, and product

Question 21

Three strategies for successfully competing in the market

Answer 21

Overall cost leadership, differentiation, focus

Question 22

Five Forces Model breakdown

Answer 22

Buyer power, supplier power, threat of substitute products/services, threat of new entrants, rivalry among existing competitors.

Question 23

Cost leadership strategy: bottom line & top line

Answer 23

Bottom: improve efficiency by reducing costs . Top: generate new revenue by offering new products & services

Question 24

Buyer power

Answer 24

High when customers have many choices and low when customers have few choices

Question 25

Supplier power

Answer 25

High when cust have few options, and low when cust have more options.

Question 26

Threat of substitute products or services

Answer 26

High when many alternatives to an organization’s products and services are available

Question 27

Threat of new entrants

Answer 27

Low when duplicating a company’s product or service is difficult, focus strats are used to ensure threat remains low

Question 28

Rivalry among existing competitors

Answer 28

High when competitors occupy same marketplace position, low when there are few competitors