ITSS 3300 Midterm Exam with 100%
Answers
What are the organizational factors in planning a new system? - ✅✅
Environment, culture, structure, business processes, politics, management
decisions.
What are Porter's 5 competitive forces? - ✅✅ Bargaining power of the customer,
threat of substitutions, bargaining power of suppliers, threat of new entrants
rivalry.
What are the four generic strategies for dealing with competitive forces? - ✅✅
Focus, Industry-wide, cost, differentiation.
Locking in - ✅✅ makes a customer dependent on a sole vendor for products and
services.
Locking out - ✅✅ making it so no other vendor can service your product due to
design.
Switching cost - ✅✅ cost to replace what you have
Creating entry barriers - ✅✅ When a company copyrights a new program or
product.
Threat of substitution - ✅✅ a product from another industry that offers same
benefits to the customer
Rivalry among existing firms - ✅✅ the degree to which firms respond to
competitive moves of other firms in the industry.
Bargaining power of customer/suppliers - ✅✅ the ability of the
customer/supplier of the industry to influence the price and terms of purchase.
What are the different parts of the Value chain and their activities? - ✅✅ Value,
money customer is willing to pay margin, difference between value and cost
linkages, interactions across value activities
, What are the effects of information systems on business and their relationship to
globalization? - ✅✅ The provide competitive advantages for business, expedites
the infill process and raise the barrier to globalization.
Explain why information systems are so essential in business today. - ✅✅ They
can be the foundation for new products, services and ways of conducting business
that provide firms with a strategic advantage.
Define information system and describe its management, organization, and
technology components. - ✅✅ Any structured arrangement of hardware,
communication networks, people, software, data resources, policies and procedures
that stores, transforms, retrieves and disseminates information in an organization.
Produces the information that organizations need to make decisions, control
operations, analyze problems, and create new products or services.
What are the six strategic business objectives? - ✅✅ Operational excellence,
New products services and business models, customer and supplier intimacy,
improved decisions making, competitive advantage, survival
Define data. - ✅✅ Raw material for processing. Relates to facts, events and
transactions. Refers to unprocessed information.
Define information. - ✅✅ Data that has been processed in such a way as to be
meaningful to the person who receives it.
What are the 3 activities used by information systems to produce information.
Provide examples. - ✅✅ Input, process, output. A manufacturing process that
takes raw materials as inputs, applies a manufacturing process, and produces
manufactured goods as output.
Define business process. - ✅✅ A network of activities that generates value by
transforming inputs into outputs.
How can information systems help businesses to achieve competitive advantages?
- ✅✅ This helps an organization focus on being the cost leader, or focus on
differentiating its products or services from those of the competition. Further, the
organization can employ the cost of differentiation strategy across an industry, or it
can focus its strategy on an industry segment.
Answers
What are the organizational factors in planning a new system? - ✅✅
Environment, culture, structure, business processes, politics, management
decisions.
What are Porter's 5 competitive forces? - ✅✅ Bargaining power of the customer,
threat of substitutions, bargaining power of suppliers, threat of new entrants
rivalry.
What are the four generic strategies for dealing with competitive forces? - ✅✅
Focus, Industry-wide, cost, differentiation.
Locking in - ✅✅ makes a customer dependent on a sole vendor for products and
services.
Locking out - ✅✅ making it so no other vendor can service your product due to
design.
Switching cost - ✅✅ cost to replace what you have
Creating entry barriers - ✅✅ When a company copyrights a new program or
product.
Threat of substitution - ✅✅ a product from another industry that offers same
benefits to the customer
Rivalry among existing firms - ✅✅ the degree to which firms respond to
competitive moves of other firms in the industry.
Bargaining power of customer/suppliers - ✅✅ the ability of the
customer/supplier of the industry to influence the price and terms of purchase.
What are the different parts of the Value chain and their activities? - ✅✅ Value,
money customer is willing to pay margin, difference between value and cost
linkages, interactions across value activities
, What are the effects of information systems on business and their relationship to
globalization? - ✅✅ The provide competitive advantages for business, expedites
the infill process and raise the barrier to globalization.
Explain why information systems are so essential in business today. - ✅✅ They
can be the foundation for new products, services and ways of conducting business
that provide firms with a strategic advantage.
Define information system and describe its management, organization, and
technology components. - ✅✅ Any structured arrangement of hardware,
communication networks, people, software, data resources, policies and procedures
that stores, transforms, retrieves and disseminates information in an organization.
Produces the information that organizations need to make decisions, control
operations, analyze problems, and create new products or services.
What are the six strategic business objectives? - ✅✅ Operational excellence,
New products services and business models, customer and supplier intimacy,
improved decisions making, competitive advantage, survival
Define data. - ✅✅ Raw material for processing. Relates to facts, events and
transactions. Refers to unprocessed information.
Define information. - ✅✅ Data that has been processed in such a way as to be
meaningful to the person who receives it.
What are the 3 activities used by information systems to produce information.
Provide examples. - ✅✅ Input, process, output. A manufacturing process that
takes raw materials as inputs, applies a manufacturing process, and produces
manufactured goods as output.
Define business process. - ✅✅ A network of activities that generates value by
transforming inputs into outputs.
How can information systems help businesses to achieve competitive advantages?
- ✅✅ This helps an organization focus on being the cost leader, or focus on
differentiating its products or services from those of the competition. Further, the
organization can employ the cost of differentiation strategy across an industry, or it
can focus its strategy on an industry segment.
