ISA 235 Final Exam Gowins|224 Questions and Answers
Data - -Raw facts that describe the characteristics of an event or object
-Structured Data - -Stored in traditional system such as a relational data base or
spreadsheet
-Unstructured Data - -Not defined and does not follow specific format
-Big Data - -Collection of large, complex data sets including structured and unstructured
data.
-Information - -Data converted into meaningful and useful context
-Business Intelligence (BI) - -Information collected from multiple sources such as
suppliers, customers, competitors, partners, and industries that analyze trends and
relationship decision making.
-Knowledge - -Skills, experience, and expertise coupled with information and intelligence
that creates a person's intellectual resources.
-The Functional Structure - -Business processes are CROSS FUNCTIONAL (no group is
solely responsible for the execution
-Systems Thinking - -A way of monitoring the entire system by viewing multiple inputs
being processes or transformed to produce outputs while continuously gathering feedback
on each part
-Porter's 5 Forces - --Supplier power (influence the prices they charge for supplies)
-Threat of substitute products and services (high when there are many alternatives)
-Buyers Power (ability of buyers affect price of item)
-Threat of new entrants (High when easy for new competitors to enter market)
-Choosing a business process - --COST LEADERSHIP (low cost broad market)
-DIFFERENTIATION (high cost broad market)
-FOCUSED STRATEGY (narrow market)
-SWOT annalysis - -analysis evaluates an orgs strengths, weaknesses, opportunities, an
treats to identify significant influences that work for or against business strategies.
, -MIS - -a business FUNCTION, like accounting and hr, which moves info about people,
products, and processes across the company to facilitate decision making and problem
solving.
-Business Strategy - -a leadership plan that achieves a specific set of goals and objectives.
ex; developing new products
**SWOT, PORTERS 5 FORCES, VALUE CHAIN
-What is an information system - -hardware
software
data
procedures
people (interact to produce info)
-IT Organization and it's role - -The backbone of business functions
-ORGS - -evaluate, build strategy, and execute
-Value Chain Analysis - -Views a firm as a series of business processes that each add value
to product or service
-Business Process - -A standardized set of activities that accomplish a specific task, such as
a specific process.
-Value Chain Primary Activities - -how and where IT/IS can provide support
*BUY MAKE SELL
-inbound logistics
-opperations
-outbound logistics
-marketing
-service
-Value Chain Support Activities - --firm infrastructure
-hr
-technology (MIS)
-procurement
-Internet of things - -Use of the internet to connect a wide variety of devices, machines,
and sensors
-Analytics - -The science of fact based decision making
, -CIO - -Oversees all uses of IT and ensures the strategic alignment of IT with business
goals and objectives
-Operational Decision Making - -employees develop, control, and maintain core business
activities required to run the day to day operations.
*STRUCTURED
-Marginal Decision Making - -employees evaluate company operations to identify, adapt
to, and leverage change
*SEMISTRUCTURED
-Strategic Decision Making - -managers develop overall strategies, goals and objectives
*UNSTRUCTURED
-CSFs - -The crucial steps companies make to preform to achieve their goals and objectives
and implement strategies
*can have many KPIS
-KPIs - -Quantifiable metrics a company uses to evaluate progress toward CSFS (turnover,
product returns)
-Efficiency MIS metrics - -measure the performance of MIS itself, such as throughput,
speed, and system availability
-Effectiveness MIS metrics - -measures the impact MIS has on a business process and
activities, including customer satisfaction and consumer conversation rates.
-Metrics - -measurements that evaluate results to determine whether a project is meeting
its goals.
-Model - -simplified representation or abstraction of reality
-Artificial Intelligence - -Simulates human intelligence such as the ability to reason and
learn.
*expert systems, neutral network, genetic algorithm, virtual reality.
-Customer Facing BP - -results in a product or service that is received by an organization's
external customer
-Business Facing BP - -invisible to the external customer but essential to effective
management of the business
Data - -Raw facts that describe the characteristics of an event or object
-Structured Data - -Stored in traditional system such as a relational data base or
spreadsheet
-Unstructured Data - -Not defined and does not follow specific format
-Big Data - -Collection of large, complex data sets including structured and unstructured
data.
-Information - -Data converted into meaningful and useful context
-Business Intelligence (BI) - -Information collected from multiple sources such as
suppliers, customers, competitors, partners, and industries that analyze trends and
relationship decision making.
-Knowledge - -Skills, experience, and expertise coupled with information and intelligence
that creates a person's intellectual resources.
-The Functional Structure - -Business processes are CROSS FUNCTIONAL (no group is
solely responsible for the execution
-Systems Thinking - -A way of monitoring the entire system by viewing multiple inputs
being processes or transformed to produce outputs while continuously gathering feedback
on each part
-Porter's 5 Forces - --Supplier power (influence the prices they charge for supplies)
-Threat of substitute products and services (high when there are many alternatives)
-Buyers Power (ability of buyers affect price of item)
-Threat of new entrants (High when easy for new competitors to enter market)
-Choosing a business process - --COST LEADERSHIP (low cost broad market)
-DIFFERENTIATION (high cost broad market)
-FOCUSED STRATEGY (narrow market)
-SWOT annalysis - -analysis evaluates an orgs strengths, weaknesses, opportunities, an
treats to identify significant influences that work for or against business strategies.
, -MIS - -a business FUNCTION, like accounting and hr, which moves info about people,
products, and processes across the company to facilitate decision making and problem
solving.
-Business Strategy - -a leadership plan that achieves a specific set of goals and objectives.
ex; developing new products
**SWOT, PORTERS 5 FORCES, VALUE CHAIN
-What is an information system - -hardware
software
data
procedures
people (interact to produce info)
-IT Organization and it's role - -The backbone of business functions
-ORGS - -evaluate, build strategy, and execute
-Value Chain Analysis - -Views a firm as a series of business processes that each add value
to product or service
-Business Process - -A standardized set of activities that accomplish a specific task, such as
a specific process.
-Value Chain Primary Activities - -how and where IT/IS can provide support
*BUY MAKE SELL
-inbound logistics
-opperations
-outbound logistics
-marketing
-service
-Value Chain Support Activities - --firm infrastructure
-hr
-technology (MIS)
-procurement
-Internet of things - -Use of the internet to connect a wide variety of devices, machines,
and sensors
-Analytics - -The science of fact based decision making
, -CIO - -Oversees all uses of IT and ensures the strategic alignment of IT with business
goals and objectives
-Operational Decision Making - -employees develop, control, and maintain core business
activities required to run the day to day operations.
*STRUCTURED
-Marginal Decision Making - -employees evaluate company operations to identify, adapt
to, and leverage change
*SEMISTRUCTURED
-Strategic Decision Making - -managers develop overall strategies, goals and objectives
*UNSTRUCTURED
-CSFs - -The crucial steps companies make to preform to achieve their goals and objectives
and implement strategies
*can have many KPIS
-KPIs - -Quantifiable metrics a company uses to evaluate progress toward CSFS (turnover,
product returns)
-Efficiency MIS metrics - -measure the performance of MIS itself, such as throughput,
speed, and system availability
-Effectiveness MIS metrics - -measures the impact MIS has on a business process and
activities, including customer satisfaction and consumer conversation rates.
-Metrics - -measurements that evaluate results to determine whether a project is meeting
its goals.
-Model - -simplified representation or abstraction of reality
-Artificial Intelligence - -Simulates human intelligence such as the ability to reason and
learn.
*expert systems, neutral network, genetic algorithm, virtual reality.
-Customer Facing BP - -results in a product or service that is received by an organization's
external customer
-Business Facing BP - -invisible to the external customer but essential to effective
management of the business
