midterm strategic issues Flashcards
What is the total number of marks for the midterm?
35 marks
Part A: 20 marks (5 questions), Part B: 15 marks (3 questions).
What is a business value chain?
A framework that describes the full range of activities needed to create a product or service
Examples can be drawn from the aviation sector or Amazon’s value chain.
List two examples of primary activities in a value chain.
- Inbound Logistics
- Operations
- Outbound Logistics
- Marketing & Sales
- Service
List two examples of support activities in a value chain.
- Firm Infrastructure
- Human Resources Management
- Technology Development
- Procurement
What is an Information System (IS)?
A combination of hardware, software, data, people, and processes that work together to collect, process, store, and distribute information.
What are the main components of an Information System?
- Hardware
- Software
- Database
- Network
- Human Resource
Fill in the blank: The process flow of an Information System is Input → Processing → _______ → Output → Feedback.
Storage
What are Transaction Processing Systems (TPS)?
Systems that record, process, and manage routine business transactions.
What does a Management Information System (MIS) do?
Converts raw transactional data into structured reports for managerial decision-making.
True or False: Executive Information Systems (EIS) provide detailed operational data.
False
EIS provide high-level overviews of company performance.
What is the role of Information Systems in sales & marketing?
Enhances customer relationship management and digital marketing analytics.
What is a Strategic Information System (SIS)?
An IS that provides organizations with competitive advantages by aligning technology with business strategy.
What are two strategic business objectives achieved by investing in information systems?
- Competitive advantage
- Operational excellence
What is the importance of information systems in online business transactions?
- Secure payment gateways
- Automated inventory management
- AI-driven personalized recommendations
- Compliance with data protection regulations
What are the major functional areas in a business?
- Sales & Marketing
- Manufacturing & Production
- Finance & Accounting
- Human Resources
Fill in the blank: Cybersecurity risks include vulnerabilities to hacking, ________, and data breaches.
phishing
What is Cost-Benefit Analysis (CBA)?
A method to evaluate the total expected costs versus benefits of IS implementation.
What does the term ‘Return on Investment (ROI)’ refer to?
A measure of the financial return of an IS investment relative to its cost.
What is an example of an inward strategic system?
Enterprise Resource Planning (ERP)
What is an example of an outward strategic system?
Customer Relationship Management (CRM)
What is the definition of data quality issues?
Problems arising from incomplete, outdated, or inconsistent data leading to poor decision-making.
What are the characteristics of Strategic Information Systems (SIS)?
- Supports business goals
- Enhances decision-making
- Facilitates innovation
What are disruptive technologies related to Information Systems?
- Artificial Intelligence (AI)
- Blockchain
- IoT (Internet of Things)
- Augmented & Virtual Reality (AR/VR)
- Big Data Analytics
