C724 WGU INFORMATION SYSTEMS
MANAGEMENT FINAL EXAM UPDATE
THIS YEAR
QUESTIONKnowledge - answer-The practical application of information.
QUESTIONData, Information, and Knowledge example - answer-Data: The number of
people below the poverty line in the region is 50,000.
Information: The number of people below the poverty line increases between 2010
and 2018.
Executive information system - answer-A system that facilitates and supports senior
managerial decisions.
QUESTIONData - answer-Unorganized data that lacks meaning.
QUESTIONInformation - answer-Data that has been organized in a meaningful
manner.
QUESTIONInformation system - answer-An integrated network of components
working together to convert data into useful information; includes an input, a
process, and an output; comprised of people, processes, machines, and information
technology.
,Knowledge: The number of people below the poverty line has increased due to
stagnating wages and cuts to social programs.
QUESTIONDecision support system - answer-This system uses models and
statistical analysis to help decision makers solve problems
QUESTIONinformation technology management - answer-the management of
hardware, software, data, networks, and people that facilitate access to information
and allow the organization to achieve business objectives.
QUESTIONStrategic information system - answer-provide tools used by an
organization to accomplish specific tasks to gain competitive advantage.
QUESTIONSocial Networking and interpersonal skills. - answer-Enhances
interpersonal and relationship-forming skills.
QUESTIONPorters 5 competitive forces - answer-Intensity competitive rivalry
bargaining power of customers
bargaining power of suppliers
threat of new entrants
threat of substitutes
QUESTIONNetwork economics (network-based strategy) - answer-the cost of adding
another business participant to a business venture is small, the potential gain is
great.
,QUESTIONBusiness ecosystems - answer-Network of businesses involved in
delivering a product through mutual cooperation.
QUESTIONProduct differentiation (business strategy) - answer-offering a higher
quality product to differentiate from others in the market
QUESTIONgrowth (business strategy) - answer-adding new products or new
enhancements to existing products
QUESTIONManagement information system (MIS) - answer-Provides timely and
accurate information that enables managers to manage their departments more
efficiently; analyzes performance.
QUESTIONTransaction processing system - answer-information system used for
processing patient admissions, employee time cards, and purchase orders
QUESTIONInformation management - answer-The management of organizational
processes and systems; helps the organization reduce costs and adds value to
products; helps the organization make better managerial decisions; stores and
processes data.
QUESTIONInformation technology - answer-The use of computer and
telecommunications systems for storing, retrieving, and sending information;
comprised of hardware, software, data, and networks.
QUESTIONEnterprise Resource Planning (ERP) - answer-Involves utilizing computer
technology to link various aspects of a business; a very complex resource planning
, system that spans the entire business; companies often have difficulty implementing
the system.
QUESTIONCustomer Relationship Management (CRM) - answer-Allows for
personalized communication to customers.
QUESTIONKnowledge Management (KM) - answer-These systems provide tools to
help manage organizational knowledge and create value to meet business
requirements and strategic goals.
QUESTIONchief executive officer (CEO) - answer-also called president or managing
director, is responsible for the success or failure of the company, creating the
company culture, selecting the senior management team, setting strategy and vision,
and selecting projects to fund.
QUESTIONchief operations officer (COO) - answer-is the director of operations,
responsible for the oversight of internal operations on a day-to-day basis and for
monitoring production quotas
QUESTIONchief financial officer (CFO) - answer-manages the company's cash flow
and evaluates and communicates financial risks.
QUESTIONchief information officer (CIO) - answer-a business leader who analyzes
internal business processes such as payroll and billing, reshapes the physical
infrastructure and network purchases to meet business goals, and leads the
workforce to implement critical IT internal projects; responsible for information
systems strategic thinking and planning.
MANAGEMENT FINAL EXAM UPDATE
THIS YEAR
QUESTIONKnowledge - answer-The practical application of information.
QUESTIONData, Information, and Knowledge example - answer-Data: The number of
people below the poverty line in the region is 50,000.
Information: The number of people below the poverty line increases between 2010
and 2018.
Executive information system - answer-A system that facilitates and supports senior
managerial decisions.
QUESTIONData - answer-Unorganized data that lacks meaning.
QUESTIONInformation - answer-Data that has been organized in a meaningful
manner.
QUESTIONInformation system - answer-An integrated network of components
working together to convert data into useful information; includes an input, a
process, and an output; comprised of people, processes, machines, and information
technology.
,Knowledge: The number of people below the poverty line has increased due to
stagnating wages and cuts to social programs.
QUESTIONDecision support system - answer-This system uses models and
statistical analysis to help decision makers solve problems
QUESTIONinformation technology management - answer-the management of
hardware, software, data, networks, and people that facilitate access to information
and allow the organization to achieve business objectives.
QUESTIONStrategic information system - answer-provide tools used by an
organization to accomplish specific tasks to gain competitive advantage.
QUESTIONSocial Networking and interpersonal skills. - answer-Enhances
interpersonal and relationship-forming skills.
QUESTIONPorters 5 competitive forces - answer-Intensity competitive rivalry
bargaining power of customers
bargaining power of suppliers
threat of new entrants
threat of substitutes
QUESTIONNetwork economics (network-based strategy) - answer-the cost of adding
another business participant to a business venture is small, the potential gain is
great.
,QUESTIONBusiness ecosystems - answer-Network of businesses involved in
delivering a product through mutual cooperation.
QUESTIONProduct differentiation (business strategy) - answer-offering a higher
quality product to differentiate from others in the market
QUESTIONgrowth (business strategy) - answer-adding new products or new
enhancements to existing products
QUESTIONManagement information system (MIS) - answer-Provides timely and
accurate information that enables managers to manage their departments more
efficiently; analyzes performance.
QUESTIONTransaction processing system - answer-information system used for
processing patient admissions, employee time cards, and purchase orders
QUESTIONInformation management - answer-The management of organizational
processes and systems; helps the organization reduce costs and adds value to
products; helps the organization make better managerial decisions; stores and
processes data.
QUESTIONInformation technology - answer-The use of computer and
telecommunications systems for storing, retrieving, and sending information;
comprised of hardware, software, data, and networks.
QUESTIONEnterprise Resource Planning (ERP) - answer-Involves utilizing computer
technology to link various aspects of a business; a very complex resource planning
, system that spans the entire business; companies often have difficulty implementing
the system.
QUESTIONCustomer Relationship Management (CRM) - answer-Allows for
personalized communication to customers.
QUESTIONKnowledge Management (KM) - answer-These systems provide tools to
help manage organizational knowledge and create value to meet business
requirements and strategic goals.
QUESTIONchief executive officer (CEO) - answer-also called president or managing
director, is responsible for the success or failure of the company, creating the
company culture, selecting the senior management team, setting strategy and vision,
and selecting projects to fund.
QUESTIONchief operations officer (COO) - answer-is the director of operations,
responsible for the oversight of internal operations on a day-to-day basis and for
monitoring production quotas
QUESTIONchief financial officer (CFO) - answer-manages the company's cash flow
and evaluates and communicates financial risks.
QUESTIONchief information officer (CIO) - answer-a business leader who analyzes
internal business processes such as payroll and billing, reshapes the physical
infrastructure and network purchases to meet business goals, and leads the
workforce to implement critical IT internal projects; responsible for information
systems strategic thinking and planning.
