IS 301 UNR REED EXAM 1- 2 QUESTIONS
Data - Answers -Lowest level of detail you can collect about anything
*Can't do much with it until you make information
Information - Answers -Answers we got FROM the data
Business Intelligence (BI) - Answers -Information collected from multiple sources such
as:
—suppliers
—customers
—competitors
—partners
—industries
*Analyzes patterns, trends, and relationships for strategic decision making
Knowledge - Answers -Information & Intelligence
+
Skills, Experience, & Expertise
The Challenge: Departmental Companies - Answers -common departments working
independently
The Core Drivers of The Information Age - Answers -data, information, business
intelligence, knowledge
The Solution - Answers -Management Information Systems
—To facilitate decision-making and problem solving
—Common departments working INTERdependently
Information Technology (IT) - Answers -Hardware + Software
Information System - Answers -Hardware & Software
+ Data + Processing + People
How is IS transforming business? - Answers -—Growth in cloud computing
—Growing use of "big data"
,Globalization Opportunities - Answers -—Internet has drastically reduced costs of
operating on global scale
—Increases in foreign trade, outsourcing
—Presents both challenges and opportunities
Cloud Computing - Answers -an environment of servers that house and provide access
to resources that users access through the internet
Benefits of Cloud Computing - Answers -—Financial Benefit
—Convenience
—Safety of Data
—Collaboration
—Up-to-Date Software
***SECURITY
Drawbacks of Cloud Computing - Answers -—Unnecessary for some
—Reliance = control
—Access to internet
***SECURITY, don't know who has access
Six Strategic Business Objectives - Answers -1. Operational excellence
2. New products, services, and business models
3. Customer and supplier intimacy
4. Improved decision making
5. Competitive advantage
6. Survival
Operational Excellence - Answers -Improvement of efficiency to attain higher
profitability
Ex: Walmart & Amazon
Business Model - Answers -describes how a company produces, delivers, and sells a
product or service to create wealth
Customer & Supplier Intimacy - Answers -Ex: Trump International Hotel
Improved Decision Making - Answers -WITHOUT ACCURATE INFO:
Managers must use forecasts, best guesses, luck
Results in:
—Overproduction, underproduction
—Misallocation of resources
—Poor response times
—Poor outcomes raise costs, lose customers
, Competitive Advantage - Answers -A product or service that an organization's
customers place a greater value on than similar offerings from a competitor
Complementary Assets - Answers -—Organizational assets
—Managerial assets
—Social assets
Organizational Assets - Answers -For example:
—Efficient Business Process
—Appropriate Business Model
Managerial Assets - Answers -For Example:
—hire the right people
—teamwork & collaborative environment
Social Assets - Answers -For Example:
—Technology standards
—Internet and telecommunications infrastructure
Business Process - Answers -—Flow of material, information, knowledge
—Sets of activities, steps
—May be tied to a functional area, or be CROSS-FUNCTIONAL
Examples of Functional Business Processes - Answers -Manufacturing & Production
—Assembling a Product
Sales & Marketing
—Identifying customers
Finance & Accounting
—Creating financial statements
Human Resources
—Hiring employees
How does IS enhance business processes? - Answers -—Increasing efficiency of
existing business processes
—Enabling entire new business processes
Intranet - Answers -Internal company websites accessible only by employees
Data - Answers -Lowest level of detail you can collect about anything
*Can't do much with it until you make information
Information - Answers -Answers we got FROM the data
Business Intelligence (BI) - Answers -Information collected from multiple sources such
as:
—suppliers
—customers
—competitors
—partners
—industries
*Analyzes patterns, trends, and relationships for strategic decision making
Knowledge - Answers -Information & Intelligence
+
Skills, Experience, & Expertise
The Challenge: Departmental Companies - Answers -common departments working
independently
The Core Drivers of The Information Age - Answers -data, information, business
intelligence, knowledge
The Solution - Answers -Management Information Systems
—To facilitate decision-making and problem solving
—Common departments working INTERdependently
Information Technology (IT) - Answers -Hardware + Software
Information System - Answers -Hardware & Software
+ Data + Processing + People
How is IS transforming business? - Answers -—Growth in cloud computing
—Growing use of "big data"
,Globalization Opportunities - Answers -—Internet has drastically reduced costs of
operating on global scale
—Increases in foreign trade, outsourcing
—Presents both challenges and opportunities
Cloud Computing - Answers -an environment of servers that house and provide access
to resources that users access through the internet
Benefits of Cloud Computing - Answers -—Financial Benefit
—Convenience
—Safety of Data
—Collaboration
—Up-to-Date Software
***SECURITY
Drawbacks of Cloud Computing - Answers -—Unnecessary for some
—Reliance = control
—Access to internet
***SECURITY, don't know who has access
Six Strategic Business Objectives - Answers -1. Operational excellence
2. New products, services, and business models
3. Customer and supplier intimacy
4. Improved decision making
5. Competitive advantage
6. Survival
Operational Excellence - Answers -Improvement of efficiency to attain higher
profitability
Ex: Walmart & Amazon
Business Model - Answers -describes how a company produces, delivers, and sells a
product or service to create wealth
Customer & Supplier Intimacy - Answers -Ex: Trump International Hotel
Improved Decision Making - Answers -WITHOUT ACCURATE INFO:
Managers must use forecasts, best guesses, luck
Results in:
—Overproduction, underproduction
—Misallocation of resources
—Poor response times
—Poor outcomes raise costs, lose customers
, Competitive Advantage - Answers -A product or service that an organization's
customers place a greater value on than similar offerings from a competitor
Complementary Assets - Answers -—Organizational assets
—Managerial assets
—Social assets
Organizational Assets - Answers -For example:
—Efficient Business Process
—Appropriate Business Model
Managerial Assets - Answers -For Example:
—hire the right people
—teamwork & collaborative environment
Social Assets - Answers -For Example:
—Technology standards
—Internet and telecommunications infrastructure
Business Process - Answers -—Flow of material, information, knowledge
—Sets of activities, steps
—May be tied to a functional area, or be CROSS-FUNCTIONAL
Examples of Functional Business Processes - Answers -Manufacturing & Production
—Assembling a Product
Sales & Marketing
—Identifying customers
Finance & Accounting
—Creating financial statements
Human Resources
—Hiring employees
How does IS enhance business processes? - Answers -—Increasing efficiency of
existing business processes
—Enabling entire new business processes
Intranet - Answers -Internal company websites accessible only by employees
