MIS E2

Question 1

What Gets Measured Gets Done

Answer 1

Measuring tasks help managers hold workers accountable for their responsibilities

Question 2

Tragedy of the Commons

Answer 2

People acting independantly towards their own interest work contrary to the benefit of everyone in the community together

Question 3

Group Norms

Answer 3

Small groups have difficulties influencing a large group - o Punishing everyone together for one person’s actions will ensure everyone reinforces the same norms

Question 4

Moral Hazard

Answer 4

When someone takes huge risks because they wont bare the consequences

Question 5

Informational Asymmetry

Answer 5

When the person taking a risk knows more than the party that will bare consequences

Question 6

Principal Agent Problem

Answer 6

When an agent takes risk on behalf of principals, who know less because they cant monitor the agents actions

Question 7

Enforcing Behavior Requirements

Answer 7

All individuals have an equal chance of getting caught, the punishment is significant enough that everyone cares, there is a reasonable chance of the punishment being enforced

Question 8

Naive Averages

Answer 8

Uses the previous years data to forcast trends

Question 9

Trend Line Forcast

Answer 9

Simple linear trends based on slope, no casual analysis (?)

Question 10

Best Case - Worst Case

Answer 10

(Best) what we can achieve 10% of the time if we work REALLY hard, (worst) what we are LIKELY to exceed 90% of the time

Question 11

Model Inputs

Answer 11

Assumptions and relationships/interactions

Question 12

Business Model

Answer 12

Use business model assumptions to make forcasts, explicity of assumptions lead to more company transperacy

Question 13

Black Box Model

Answer 13

No transparany, may be functional but no one understands why - this makes it difficult to achieve success outside tested parameters

Question 14

Partial Sensitivity Analysis

Answer 14

Take one variable and test it under all conditions, evaaluate how much the forcast changes

Question 15

Monte Carlo Analysis

Answer 15

Multiple simulation runs, where the input is generated based on probability distributions

Question 16

Breakeven Analysis

Answer 16

When revenues equal expenses

Question 17

High Sensitivity

Answer 17

When a small change in input creates a drastic change in the output

Question 18

Low Sensitivity

Answer 18

When any change in input creates a small change in output

Question 19

10 Reasons for ERP Failure

Answer 19

Doing it when not needed, no goals set, a good plan or not? (all resources, stakeholders, and requirements should be planned out), part time projust management (needs accountability, transparicy, decisiveness), underestimating resources needed, over reliance of consultants (you should be making the final decision), customization (constantly recreating the design adds more work because you have to create new codes), lack of job training, insufficient testing, not enough user training

Question 20

What causes a business the most money when systems fail?

Answer 20

An inability to ship goods and lost revenue

Question 21

Cntrl X

Answer 21

Cut function

Question 22

Sorting and Filtering

Answer 22

Quick A-Z sort, sorting with headers, removing duplicates, adding customized filters

Question 23

VLOOKUP

Answer 23

Looking down a table for a match in the first column (=vlookup(lookup value, table array, column, [range lookup])

Question 24

HLOOKUP

Answer 24

Looking across a table for a match in the first column, =hlookup(lookup value, table array, row, [range lookup]

Question 25

Pivot Tables

Answer 25

Focuses on the intersection of data

Question 26

Procure to Pay

Answer 26

Steps to aquiring goods and materials necessary to function a business, STEPS: Negociate price/purchase, issue purchase order, recieve goods, recieve invoice, settle payment

Question 27

Procure and Pay SUPPORT Functional Areas

Answer 27

Enable core activities to function efficiently, INCLUDES: Administration, organization, human resources, technology, purchasing

Question 28

Procure and Pay CORE Functional Areas

Answer 28

Focused on value creation, INCLUDES: Inbound logistics, operations, outbound logistics, marketing and sales, customer services

Question 29

Internally Focused Systems

Answer 29

Create information flows between departments and processes, streamlining operations

Question 30

Integrated Enterprise Systems

Answer 30

Integrated across the value chain, making the flow of informaton easy and smooth

Question 31

Make to Stock

Answer 31

Products are made with a forecast

Procure inputs - schedule production - production - quality control - stock production

Question 32

Make to Order

Answer 32

Products are made when ordered

Process sales order - design product - inputs - schedule production - quality control - ship product

Question 33

Value System

Answer 33

Multiple companies working together

Question 34

Externally Focused Systems

Answer 34

Focus on improving communication and coordination with other businesses in the value system, INCLUDES: supply chain management and customer relationship management

Question 35

KPI

Answer 35

Key performance indicator

Question 36

Dual Monitors

Answer 36

Increases multitasking ability, and improves efficiency

Question 37

5 Information System Elements

Answer 37

Hardware, software, network, data, processing

Question 38

Modern Hardware Features

Answer 38

Smaller, house racked storage, internetworked, task specialized, more powerful

Question 39

Information System Silos

Answer 39

?

Question 40

2 Tier

Answer 40

Client to server

Question 41

3 Tier

Answer 41

Client, application server, data server

Question 42

n Tier

Answer 42

Client, web server, application server, data server

Question 43

Client Server Advantages

Answer 43

…

Question 44

Cloud Storage

Answer 44

Requires specialized clients to access conviniently,

Question 45

Enterprise Paradigm

Answer 45

Specialization, utilization, standards