Management of Information Systems
What is MIS? - correct answer-the management and use of information systems that help
organisations achieve strategies
Information Systems - correct answer-assembly of hardware, software, data, procedures and
people that produce information
Information Technology - correct answer-refers to the products, methods, inventions, and
standards used for purpose of producing information
What is a system? - correct answer-a group of components that interact to achieve some
purpose
Five-Component Framework - correct answer-a model of the components of an information
system: computer hardware, software, data, procedures, and people
Business Professionals need to: - correct answer--take an active role
-understand how IS is constructed
-consider needs during development
-Learn how to use IS
-remember ancillary requirements (security, responsibilities, backups)
What is the most important component? - correct answer-Your mind and your thinking are
merely a component of the information systems you use
What is information? - correct answer-knowledge derived from data, whereas data is defined
as record facts or figures
What are necessary data characteristics? - correct answer-Good information is conceived
from accurate, correct, and complete data
Timely - correct answer-good information requires that data be timely - available in time for
its intended use
Relevant - correct answer-data should be relevant both tot he context and to the subject
Just barely sufficient - correct answer-data needs to be sufficient for the purpose for which it
is generated, but just barely so
Worth Its Cost - correct answer-for data to be worth its cost, an appropriate relationship must
exist between the cost of data and its value
How does organizational strategy determine information systems structure? - correct
answer-an organization's goals and objectives are determined by its competitive strategy
, Five Forces Model - correct answer-A framework that identifies five forces that determine the
profit potential of an industry and shape a firm's competitive strategy.
Bargaining Power Forces - correct answer-pressure on our ability to set the prices we want
on our products/services
Five Forces Model Components - correct answer--Bargaining power of buyers
-Bargaining power of suppliers
-Rivalry among existing competitors
-Threat of new entrants
-Threat of substitutes
How does analysis of industry structure determine competitive strategy? - correct answer-An
organization can focus on being the cost leader, or it can focus on differentiating its products
or services from the competition
What is Competitive Strategy? - correct answer--goals, objectives, culture and activates
must be consistent with its strategy
-information systems must facilitate competitive strategy
Value - correct answer-the amount of money that a customer is willing to pay for a resource,
product, or services
Margin - correct answer-the difference between the value that an activity generates and the
cost of the activity is called the margin
value chain - correct answer-a network of value-creating activites
Inbound logistics - correct answer-receiving, storing, and disseminating inputs to the
products
Operations/manufacturing - correct answer-transforming inputs into the final products
Outbound logistics - correct answer-collecting, storing, and physically distributing the
products to buyers
Sales and Marketing - correct answer-Inducing buyers to purchase the products and
providing a means for them to do so
Customer Service - correct answer-Assisting customers' use of the products and thus
maintaining and enhancing the products' value
Support activities in the value chain - correct answer-Support activities in the generic value
chain contribute indirectly to the production, sale, and service of the product
Value chain linkages - correct answer-interaction across value activities
What is MIS? - correct answer-the management and use of information systems that help
organisations achieve strategies
Information Systems - correct answer-assembly of hardware, software, data, procedures and
people that produce information
Information Technology - correct answer-refers to the products, methods, inventions, and
standards used for purpose of producing information
What is a system? - correct answer-a group of components that interact to achieve some
purpose
Five-Component Framework - correct answer-a model of the components of an information
system: computer hardware, software, data, procedures, and people
Business Professionals need to: - correct answer--take an active role
-understand how IS is constructed
-consider needs during development
-Learn how to use IS
-remember ancillary requirements (security, responsibilities, backups)
What is the most important component? - correct answer-Your mind and your thinking are
merely a component of the information systems you use
What is information? - correct answer-knowledge derived from data, whereas data is defined
as record facts or figures
What are necessary data characteristics? - correct answer-Good information is conceived
from accurate, correct, and complete data
Timely - correct answer-good information requires that data be timely - available in time for
its intended use
Relevant - correct answer-data should be relevant both tot he context and to the subject
Just barely sufficient - correct answer-data needs to be sufficient for the purpose for which it
is generated, but just barely so
Worth Its Cost - correct answer-for data to be worth its cost, an appropriate relationship must
exist between the cost of data and its value
How does organizational strategy determine information systems structure? - correct
answer-an organization's goals and objectives are determined by its competitive strategy
, Five Forces Model - correct answer-A framework that identifies five forces that determine the
profit potential of an industry and shape a firm's competitive strategy.
Bargaining Power Forces - correct answer-pressure on our ability to set the prices we want
on our products/services
Five Forces Model Components - correct answer--Bargaining power of buyers
-Bargaining power of suppliers
-Rivalry among existing competitors
-Threat of new entrants
-Threat of substitutes
How does analysis of industry structure determine competitive strategy? - correct answer-An
organization can focus on being the cost leader, or it can focus on differentiating its products
or services from the competition
What is Competitive Strategy? - correct answer--goals, objectives, culture and activates
must be consistent with its strategy
-information systems must facilitate competitive strategy
Value - correct answer-the amount of money that a customer is willing to pay for a resource,
product, or services
Margin - correct answer-the difference between the value that an activity generates and the
cost of the activity is called the margin
value chain - correct answer-a network of value-creating activites
Inbound logistics - correct answer-receiving, storing, and disseminating inputs to the
products
Operations/manufacturing - correct answer-transforming inputs into the final products
Outbound logistics - correct answer-collecting, storing, and physically distributing the
products to buyers
Sales and Marketing - correct answer-Inducing buyers to purchase the products and
providing a means for them to do so
Customer Service - correct answer-Assisting customers' use of the products and thus
maintaining and enhancing the products' value
Support activities in the value chain - correct answer-Support activities in the generic value
chain contribute indirectly to the production, sale, and service of the product
Value chain linkages - correct answer-interaction across value activities
