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Management Case Study > P2 - 12. Information Systems > Flashcards

P2 - 12. Information Systems Flashcards

1
Q

What is a Business Information Strategy?

A

The overall plan a business has to create and develop it’s information systems, focusing on information that the board requires

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2
Q

What are the 3 elements to an effective information strategy?

A
  1. Information Systems strategy
  2. Information Technology strategy
  3. Information Management strategy
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3
Q

What is Information Systems strategy?

A

The long term plan to exploit an entity’s information systems in order to support business strategy, ensuring information is acquired, retained and shared effectively

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4
Q

What is Information Technology strategy?

A

The specific systems that are required to satisfy the information needs of the organisation, including the hardware, software and operating systems, with adequate processing power and storage

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5
Q

What is Information Management strategy?

A

Methods by which information is stored and how that is collected and provided to users, as well as protection and backup

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6
Q

What are the 5 major costs of investment in information systems?

A
  1. Hardware and software
  2. Installation
  3. Development
  4. Personnel
  5. Intangible costs (e.g. incompatibilities)
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7
Q

What are the 3 major financial benefits of investment in information systems?

A
  1. Efficiency savings (better cost control)
  2. The ability to provide better goods or services
  3. Staff time and cost saved reducing manual input
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8
Q

What are the 4 main intangible benefits of investment in information systems?

A
  1. Better management information and decision making
  2. Better staff morale
  3. Less time spent on routine tasks
  4. Better relationships with stakeholders
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9
Q

What are the 4 levels of the strategic framework that information systems are employed at?

A
  1. Operational
  2. Business
  3. Corporate
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10
Q

What are the 5 ISs used at operational level?

A
  1. Transaction processing systems
  2. Expert systems
  3. Computer Aided Manufacturing
  4. Computer Integrated Manufacturing
  5. Flexible Manufacturing Systems
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11
Q

What are the 3 ISs used at business level?

A
  1. Strategic Enterprise Management Systems
  2. Management Information Systems
  3. Decision Support Systems
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12
Q

What is a Strategic Enterprise Management System?

A

A system which provides data in formats that assist managers in setting strategic goals, measuring performance in light of these goals and measuring and managing human resources

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13
Q

What KPI system is a strategic enterprise management system linked to?

A

The balanced scorecard

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14
Q

Where does a Strategic Enterprise Management System store data?

A

In a data warehouse

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15
Q

What is a Management Information System?

A

A system that draws data from the underlying TPS and summarises it to provide more useful information for middle management decisions

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16
Q

What it the draw back of management information systems?

A

Not always useful for planning or decision making as they do not provide a holistic view

17
Q

What is a Decision Support System?

A

One that contains data analysis models that allow managers to simulate different scenarios and then form conclusions on the results e.g. what if analysis

18
Q

What is the IS used at corporate level?

A

Executive Information Systems

19
Q

What does an Executive Information system do?

A

Provides high level overviews of an organisation by aggregating data from various internal and external sources

20
Q

What is a major useful feature of EIS?

A

Graphs

21
Q

What is an Enterprise Resource Planning System?

A

A system that captures accounting, operational, customer and supplier data in a data warehouse for use in reporting

22
Q

What are the 3 uses of balanced scorecards that are formed from ERP systems?

A
  1. Strategic planning
  2. Customer relationship management
  3. Supply chain management
23
Q

What is an Electric Data Interchange?

A

System for exchanging data electronically with suppliers directly

24
Q

What is an extranet?

A

A secure link from an organisation’s computer to an authorised external system

25
Q

When is having an extranet/using EDI particularly useful?

A

When operating with JIT inventory systems

26
Q

What are the 5 main risks in IS/IT systems?

A
  1. Obsolescence
  2. Physical threat
  3. Hacking
  4. Human Error
  5. Infrastructure failure
27
Q

What is big data?

A

Capturing and processing bot structured and unstructured data on a vast scale and converting it into information that is able to be utilised by the organisation

28
Q

What are the 4 Vs of big data?

A
  1. Volume
  2. Velocity
  3. Variety
  4. Veracity
29
Q

What are the 5 main benefits/uses of big data?

A
  1. Identifying opportunities to increase revenue
  2. Building a more complete picture of customers
  3. Building a more complete picture of competitions
  4. Uncovering unexpected relationships
  5. Insights into business performance

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Management Case Study (36 decks)

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