COMPREHENSIVE REVIEW PACK COMPLETE
VERIFIED SOLUTIONS A+
◉ data. Answer: raw facts that describe characteristics of an event or
object. ex: order date, amounts sold, phone numbers of customers
◉ knowledge. Answer: skills, experience, and expertise, coupled with
information and intelligence that creates a person's intellectual
resources. (knowing what to do with data/info)
◉ functional business areas. Answer: - sales
- marketing
- accounting
- finance
- operations
- human resources
◉ sales. Answer: deals with customer data, sales report, commission
data
◉ marketing. Answer: deals with promotional data, sales data,
advertising data
,◉ accounting. Answer: deals with transactional data, purchasing data,
payroll data, taxation data
◉ finance. Answer: deals with investment data, monetary data, reporting
data
◉ operations. Answer: deals with manufacturing data, distribution data,
production data
◉ human resources. Answer: deals with employee data, promotion data,
vacation data
◉ parts of a business information system. Answer: - people
- hardware
- software
- data
- networks
◉ stakeholders. Answer: a person or group that has an interest or
concern in an organization
◉ interests of stakeholders. Answer: partners/suppliers -
contracts/production
,shareholders/investors - maximize profits, grow market share
community - associations, ethical recycling, increase employment
employees - fair compensation, job security, ethical treatment
customers - exceptional customer service, high quality products, ethical
dealing
government - coherence to laws/regulations, increase employment,
ethical taxation reporting
◉ system. Answer: an organized purposeful structure that consists of
interrelated, and interdependent elements
all _____ have a purpose or a goal
all _____ at their core, have processes
◉ 7 parts of a system. Answer: 1) inputs
2) processes (that transform inputs)
3) outputs
4) controls
5) feedback
, 6) purpose/function that guides controls
7) time
◉ 5 parts of a process. Answer: 1) inputs
2) processes
3) outputs
4) feedback
5) control
◉ process. Answer: - looks for a particular end goal
- performance can be measured
◉ system. Answer: - does not always produce a particular end
- performance can't always be measured
◉ what computers are good at. Answer: - high speed, high volume,
numerical computation
- fast, accurate, inexpensive communication within and between
organizations
- storing huge amount of information in an easy to access, yet small
space
- quick and inexpensive access to vast amounts of information,
worldwide