MIS Exam One Flashcards
(47 cards)
What is MIS?
the management and use of information systems that help organizations achieve their strategies
Information
Data converted into a meaningful and useful context. People perceive data, and then conceive that data into information.
Characteristics of Data
- Accurate- correct and complete
- Timely- available when decisions need to be made
- Relevant- useful to management to make decisions
- Worth its cost
- Just Sufficient
What is the Primary Collaborative System we use in MIS?
Microsoft Teams
Bell’s law
a new computer class forms roughly each decade establishing a new industry
Nielson’s Law
network connection speeds for high-end users will increase by 50% per year
Metcalfe’s law
the value of a network is equal to the square of the number of users connected to it
Moore’s Law
The number of transistors per square inch on an integrated chip doubles every 18 months
Kryder’s Law
Storage capacity is increasing exponentially. The cost of storing data is approaching zero.
Components of Every Information System
Hardware, Software, Data, Procedures, People.
It is harder to implement change in people, but easier to do so in hardware.
Characteristic of a Strong Password
- must contain at least 12+ characters
- Must not contain a whole dictionary word.
- Contains both upper and lower-case letters, numbers, and special characters (@#><.,)
- Must be different from other passwords
- Doesn’t contain whole personal info (names, birthdays, company names).
What is the primary function of IT & IS in Collaboration?
Communication and Content Sharing
Collaboration
a group of people working together to achieve a common goal via a process of feedback and iteration
Cooperation
a group of people working together, all doing essentially the same type of work, to accomplish a job
Why are Iteration and Feedback key characteristics for Collaboration?
They provide constructive criticism and learning opportunities for members in a group.
Collaboration Needs for Decision Making
Strategic, Managerial, Operational. Strategic requires the most collaboration, while operational is more structured and therefore requires less.
Strategic Decisions
decisions that support broad-scope, organizational issues
Managerial Decisions
decisions about the allocation and utilization of resources
Operational Decisions
those that support operational, day-to-day activities
5 Forces that determine Industry Structure
- Bargaining power of customers
- Threat of substitutions
- Bargaining power of suppliers
- Threat of new entrants
- Rivalry
Competitive Advantage
- Lowest Cost Across Industry
- Better product/service across Industry
- Lowest Cost within an industry segment
- Better product/service within an industry segment
Buyer Power
One of Porter’s Five forces; measures the ability of buyers to affect the price they must pay for an item. High when customers have many choices and low when customers have few choices.
Supplier Power
One of Porter’s Five Forces; measures the suppliers’ ability to influence the prices they charge for supplies (including materials, labor, and services). High when customers have fewer options and low when customers have many options.
Threat of Substitue Products/Services
One of Porter’s Five Forces; High when alternatives to an organization’s product or service is available. Customers will generally (ignoring brand loyalty) choose between cost or quality when deciding to buy an item.
