IS 300 - EXAM 1 QUESTIONS ANSWERED CORRECTLY LATEST UPDATE 2026
IS - Answers system that collects and processes data/info & provides it to managers at all levels for
decision making, planning, program implementation, and control
IT - Answers studies technology and the management & process of information
3 dimension of IS - Answers organizations, technology, management
e-tailer - Answers an online retail store for goods (Amazon)
content provider - Answers provides digital content (ESPN)
transaction broker - Answers facilitates online transactions, business to consumer (Expedia)
market creator - Answers provides a trading platform for individuals and firms (eBay)
community provider - Answers provides an online community to focused groups (Facebook)
portal - Answers provides initial point of entry to Web, specialized content, services (MSN)
service provider - Answers provides online services, including search service (flickr, PayPal)
Advantages of regular shopping - Answers customer reaction/attitude, invisible transaction costs, low
delayed gratification
properties of information goods - Answers Varied marketing/inventory/delivery costs
Information-based
Big fixed cost
Easy versioning and pricing
Small/negligible variable cost
IT investment vs Total Investment - Answers in the US, the fluctuation of the total business
investment from year to year is primarily accounted for by fluctuation in IT investment
Variation in ROI of IT - Answers IT itself does not guarantee good returns; must be accompanied by
complementary assets
complementary assets - Answers organizational, managerial, social
MIS - Answers Management Information System
ESS - Answers Executive Support System
DSS - Answers Decision Support System
TPS - Answers Transaction Processing System
Executive Support System - Answers computer system that performs and records the daily routine
transactions necessary to conduct business (payroll, gives the dashboard view)
Management Information System - Answers provide middle managers with reports on the
organizations current performance (ex: balance sheets)
Decision Support System - Answers heavier on data, works with MIS
webpage - Answers one document in html
website - Answers a collection of webpages
outsourcing - Answers when a business delegates its supply chain management to an external firm in
Asia on a contractual basis
the leavitt diamond - Answers relates a firm's IT use to its business processes, organizational form,
and requisite people skills
ERP - Answers Enterprise Resource Planning
CRM - Answers Customer Resource Management
SCM - Answers Supply Chain Management
ERP Benefits - Answers creates a database that is one language
e-business - Answers using technology to execute major business processes in the enterprise
e-commerce - Answers type of e-business; buying and selling goods and services over the internet
Effect of the internet on the marketplace - Answers reduces information asymmetry, flexible, delays
gratification, increases market segmentation, strong network effect, more disintermedition
IS - Answers system that collects and processes data/info & provides it to managers at all levels for
decision making, planning, program implementation, and control
IT - Answers studies technology and the management & process of information
3 dimension of IS - Answers organizations, technology, management
e-tailer - Answers an online retail store for goods (Amazon)
content provider - Answers provides digital content (ESPN)
transaction broker - Answers facilitates online transactions, business to consumer (Expedia)
market creator - Answers provides a trading platform for individuals and firms (eBay)
community provider - Answers provides an online community to focused groups (Facebook)
portal - Answers provides initial point of entry to Web, specialized content, services (MSN)
service provider - Answers provides online services, including search service (flickr, PayPal)
Advantages of regular shopping - Answers customer reaction/attitude, invisible transaction costs, low
delayed gratification
properties of information goods - Answers Varied marketing/inventory/delivery costs
Information-based
Big fixed cost
Easy versioning and pricing
Small/negligible variable cost
IT investment vs Total Investment - Answers in the US, the fluctuation of the total business
investment from year to year is primarily accounted for by fluctuation in IT investment
Variation in ROI of IT - Answers IT itself does not guarantee good returns; must be accompanied by
complementary assets
complementary assets - Answers organizational, managerial, social
MIS - Answers Management Information System
ESS - Answers Executive Support System
DSS - Answers Decision Support System
TPS - Answers Transaction Processing System
Executive Support System - Answers computer system that performs and records the daily routine
transactions necessary to conduct business (payroll, gives the dashboard view)
Management Information System - Answers provide middle managers with reports on the
organizations current performance (ex: balance sheets)
Decision Support System - Answers heavier on data, works with MIS
webpage - Answers one document in html
website - Answers a collection of webpages
outsourcing - Answers when a business delegates its supply chain management to an external firm in
Asia on a contractual basis
the leavitt diamond - Answers relates a firm's IT use to its business processes, organizational form,
and requisite people skills
ERP - Answers Enterprise Resource Planning
CRM - Answers Customer Resource Management
SCM - Answers Supply Chain Management
ERP Benefits - Answers creates a database that is one language
e-business - Answers using technology to execute major business processes in the enterprise
e-commerce - Answers type of e-business; buying and selling goods and services over the internet
Effect of the internet on the marketplace - Answers reduces information asymmetry, flexible, delays
gratification, increases market segmentation, strong network effect, more disintermedition
