Management Information Systems Chapter 1 Vocabulary Questions And Answers Verified 100% Correct

Management Information Systems Chapter 1 Vocabulary Questions And Answers Verified 100% Correct E-Discovery - The process by which electronic data that might be used as legal evidence are requested, secured, and searched Management Information Systems (MIS) - The study of information systems--how people, technology, processes, and data work together. Also used to describe a special type of information system that supports tactical decision making at the managerial level Chief Information Officer (CIO) - The person who heads the department responsible for managing and maintaining information systems, and ensuring they support the organization's strategic goals Crisis Management Team - The team in an organization that is responsible for identifying, assessing,and addressing threats from unforeseen circumstances that can lead to crisis situations Summary Point 1 - Organizations rely on information systems for a host of reasons, and they play critical roles in several contexts: operations management, customer interactions, decision making, collaboration and teamwork, strategic initiatives, and individual productivity Summary Point 2 - Data, information, and knowledge are terms along a continuum that reflect how raw facts can be combined, assembled, and analyzed to add meaning and value. Characteristics of information that add to its value include timeliness, accuracy, and completeness Summary Point 3 - The four components of any information system are (1) people, (2) technology, (3) process, and (4) data. The "people" component encompasses far more than just the IT staff. it encompasses the human element and involves people from many different parts of the organization. Customers and suppliers also participate in improving processes and eliminating waste. Customers may become contributors through user-generated content and Web 2.0 applicatons Summary Point 4 - The young discipline of information systems attracts faculty and students from many fields, private-sector analysts, government workers, and more. Research trends show the changing nature of the field. Interest in subjects such as the role of IT in markets and in collaborative group work has increased considerably Summary Point 5 - Information systems contribute to success in every functional department and in all different types of organizations. Learning how they make these contributions, and how you can lead efforts to leverage their power, are important regardless of your specialization. This knowledge will also improve your own productivity Summary Point 6 - Although information systems hold extraordinary promise, they also present risks and ethical concerns, especially because of amplification effects. Privacy breaches occur frequently and the damage can affect millions. Reputations are also more vulnerable because messages, whether accurate or not, can spread so quickly Operation Management - The area of management concerned with the design, operation, and improvement of the systems and processes the organization uses to deliver its goods and services Customer Relationship Management (CRM) System - An information system used to build customer relationships, enhance loyalty, and manage interactions with custimers Data-Driven Decision Making - Decision making that draws on the billions of pieces of date that can be aggregated to reveal important trends and patters Business Intelligence - The information managers use to make decisions, drawn from the company's own information systems or external sources Social Networking Sites - Online communities of people who create profiles for themselves, form ties with other with whom they share interests, and make new connections based on those ties Competitive Advantage - Anything that gives a firm a lead over its rivals; it can be gained through the development and application of innovative information systems Data - The individual facts or pieces of information Information - Data or facts that are assembled and analyzed to add meaning and usefulness Information Systems - A system that brings together four critical components to collect, process, manage, analyze, and distribute information; the the four components are people, technology, processes, and data User-Generated Content (UGC) - The content contributed to a system by its users