ISA 235 - Exam 1 Questions And
Answers
/. Information Age - Answer-✅The present time, during which infinite quantities of facts
are widely available to anyone who can use a computer
/.Internet of Things (IoT) - Answer-✅A world where interconnected, Internet-enabled
devices or "things" can collect and share data without human intervention
/.Data - Answer-✅Raw facts that describe the characteristics of an event or object
/.Big Data - Answer-✅A collection of large, complex data sets, including structured and
unstructured data, which cannot be analyzed using traditional database methods and
tools
/.Information - Answer-✅Data converted into a meaningful and useful context
/.Business Intelligence (BI) - Answer-✅Information collected from multiple sources such
as suppliers, customers, competitors, partners, and industries that analyzes patterns,
trends, and relationships for strategic decision making
/.Analytics - Answer-✅The science of fact-based decision making
/.Business Analytics - Answer-✅The scientific process of transforming data into insight
for making better decisions
/.Knowledge - Answer-✅Skills, experience, and expertise coupled with information and
intelligence that creates a person's intellectual resources
/.Data Silo - Answer-✅Occurs when one business unit is unable to freely communicate
with other business units making it difficult or impossible for organizations to work cross-
functionally
/.System - Answer-✅A collection of parts that link to achieve a common purpose
/.Systems Thinking - Answer-✅A way of monitoring the entire system by viewing
multiple inputs being processed or transformed to produce outputs while continuously
gathering feedback on each part
, /.Value-added - Answer-✅The term used to describe the difference between the cost of
inputs and the value of price of outputs
/.Management Information Systems (MIS) - Answer-✅A business function, like
accounting and human resources, which moves information about people, products,
and processes across the company to facilitate decision-making and problem-solving
/.MIS Skills Gap - Answer-✅The difference between existing MIS workplace knowledge
and the knowledge required to fulfill the business goals and strategies
/.The drivers of the Information Age is data, information, business intelligence, and
knowledge. (True or False) - Answer-✅True
/.Systems Thinking involves (Input, Process, Output, and Feedback) True or False -
Answer-✅True
/.Value Chain Analysis - Answer-✅Views a firm as a series of business processes that
each add value to the product or service
/.SWOT Analysis - Answer-✅Evaluates an organization's strengths, weaknesses,
opportunities, and threats to identify significant influences that work for or against
business strategies
/.Porter's Five Forces Model - Answer-✅Analyzes the competitive forces within the
environment in which a company operates to assess the potential for profitability in an
industry (Threat of Substitute Products or Services, Supplier Power, Rivalry Among
Existing Competitors, Buyer Power, Threat of New Entrants).
/.Primary Value Activites - Answer-✅Found at the bottom of the value chain, these
include business processes that acquire raw materials and manufacture, deliver,
market, sell, and provide after-sales services. (Inbound logistics, operations, outbound
logistics, marketing and sales services).
/.Support Value Activities - Answer-✅Found along the top of the value chain and
includes business processes, such as firm infrastructure, human resource management,
technology development, and procurement, that support the primary value activities.
/.The Three Generic Strategies - Answer-✅Cost leader (the most cost-effective),
Differentiation (High-end), focused strategy (specialized in a certain area).
/.Metrics - Answer-✅Measurements that evaluate results to determine whether a project
is meeting its goals
Answers
/. Information Age - Answer-✅The present time, during which infinite quantities of facts
are widely available to anyone who can use a computer
/.Internet of Things (IoT) - Answer-✅A world where interconnected, Internet-enabled
devices or "things" can collect and share data without human intervention
/.Data - Answer-✅Raw facts that describe the characteristics of an event or object
/.Big Data - Answer-✅A collection of large, complex data sets, including structured and
unstructured data, which cannot be analyzed using traditional database methods and
tools
/.Information - Answer-✅Data converted into a meaningful and useful context
/.Business Intelligence (BI) - Answer-✅Information collected from multiple sources such
as suppliers, customers, competitors, partners, and industries that analyzes patterns,
trends, and relationships for strategic decision making
/.Analytics - Answer-✅The science of fact-based decision making
/.Business Analytics - Answer-✅The scientific process of transforming data into insight
for making better decisions
/.Knowledge - Answer-✅Skills, experience, and expertise coupled with information and
intelligence that creates a person's intellectual resources
/.Data Silo - Answer-✅Occurs when one business unit is unable to freely communicate
with other business units making it difficult or impossible for organizations to work cross-
functionally
/.System - Answer-✅A collection of parts that link to achieve a common purpose
/.Systems Thinking - Answer-✅A way of monitoring the entire system by viewing
multiple inputs being processed or transformed to produce outputs while continuously
gathering feedback on each part
, /.Value-added - Answer-✅The term used to describe the difference between the cost of
inputs and the value of price of outputs
/.Management Information Systems (MIS) - Answer-✅A business function, like
accounting and human resources, which moves information about people, products,
and processes across the company to facilitate decision-making and problem-solving
/.MIS Skills Gap - Answer-✅The difference between existing MIS workplace knowledge
and the knowledge required to fulfill the business goals and strategies
/.The drivers of the Information Age is data, information, business intelligence, and
knowledge. (True or False) - Answer-✅True
/.Systems Thinking involves (Input, Process, Output, and Feedback) True or False -
Answer-✅True
/.Value Chain Analysis - Answer-✅Views a firm as a series of business processes that
each add value to the product or service
/.SWOT Analysis - Answer-✅Evaluates an organization's strengths, weaknesses,
opportunities, and threats to identify significant influences that work for or against
business strategies
/.Porter's Five Forces Model - Answer-✅Analyzes the competitive forces within the
environment in which a company operates to assess the potential for profitability in an
industry (Threat of Substitute Products or Services, Supplier Power, Rivalry Among
Existing Competitors, Buyer Power, Threat of New Entrants).
/.Primary Value Activites - Answer-✅Found at the bottom of the value chain, these
include business processes that acquire raw materials and manufacture, deliver,
market, sell, and provide after-sales services. (Inbound logistics, operations, outbound
logistics, marketing and sales services).
/.Support Value Activities - Answer-✅Found along the top of the value chain and
includes business processes, such as firm infrastructure, human resource management,
technology development, and procurement, that support the primary value activities.
/.The Three Generic Strategies - Answer-✅Cost leader (the most cost-effective),
Differentiation (High-end), focused strategy (specialized in a certain area).
/.Metrics - Answer-✅Measurements that evaluate results to determine whether a project
is meeting its goals
