C724 INFORMATION SYSTEMS
MANAGEMENT UPDATED ACTUAL
QUESTIONS AND VERIFIED ANSWERS
●● Data
Answer: Unorganized data that lacks meaning.
●● Information
Answer: Data that has been organized in a meaningful manner.
●● Information system
Answer: An integrated network of components working together to
convert data into useful information; includes an input, a process, and an
output; comprised of people, processes, machines, and information
technology.
●● Knowledge
Answer: The practical application of information.
●● Data, Information, and Knowledge example
Answer: Data: The number of people below the poverty line in the
region is 50,000.
,Information: The number of people below the poverty line increases
between 2010 and 2018.
Knowledge: The number of people below the poverty line has increased
due to stagnating wages and cuts to social programs.
●● Decision support system
Answer: This system uses models and statistical analysis to help
decision makers solve problems
●● Management information system (MIS)
Answer: Provides timely and accurate information that enables
managers to manage their departments more efficiently; analyzes
performance.
●● Transaction processing system
Answer: information system used for processing patient admissions,
employee time cards, and purchase orders
●● Information management
Answer: The management of organizational processes and systems;
helps the organization reduce costs and adds value to products; helps the
organization make better managerial decisions; stores and processes
data.
,●● Information technology
Answer: The use of computer and telecommunications systems for
storing, retrieving, and sending information; comprised of hardware,
software, data, and networks.
●● information technology management
Answer: the management of hardware, software, data, networks, and
people that facilitate access to information and allow the organization to
achieve business objectives.
●● Strategic information system
Answer: provide tools used by an organization to accomplish specific
tasks to gain competitive advantage.
●● Social Networking and interpersonal skills.
Answer: Enhances interpersonal and relationship-forming skills.
●● Porters 5 competitive forces
Answer: Intensity competitive rivalry
bargaining power of customers
bargaining power of suppliers
threat of new entrants
, threat of substitutes
●● Network economics (network-based strategy)
Answer: the cost of adding another business participant to a business
venture is small, the potential gain is great.
●● Business ecosystems
Answer: Network of businesses involved in delivering a product through
mutual cooperation.
●● Product differentiation (business strategy)
Answer: offering a higher quality product to differentiate from others in
the market
●● growth (business strategy)
Answer: adding new products or new enhancements to existing products
●● Enterprise Resource Planning (ERP)
Answer: Involves utilizing computer technology to link various aspects
of a business; a very complex resource planning system that spans the
entire business; companies often have difficulty implementing the
system.
●● Customer Relationship Management (CRM)
MANAGEMENT UPDATED ACTUAL
QUESTIONS AND VERIFIED ANSWERS
●● Data
Answer: Unorganized data that lacks meaning.
●● Information
Answer: Data that has been organized in a meaningful manner.
●● Information system
Answer: An integrated network of components working together to
convert data into useful information; includes an input, a process, and an
output; comprised of people, processes, machines, and information
technology.
●● Knowledge
Answer: The practical application of information.
●● Data, Information, and Knowledge example
Answer: Data: The number of people below the poverty line in the
region is 50,000.
,Information: The number of people below the poverty line increases
between 2010 and 2018.
Knowledge: The number of people below the poverty line has increased
due to stagnating wages and cuts to social programs.
●● Decision support system
Answer: This system uses models and statistical analysis to help
decision makers solve problems
●● Management information system (MIS)
Answer: Provides timely and accurate information that enables
managers to manage their departments more efficiently; analyzes
performance.
●● Transaction processing system
Answer: information system used for processing patient admissions,
employee time cards, and purchase orders
●● Information management
Answer: The management of organizational processes and systems;
helps the organization reduce costs and adds value to products; helps the
organization make better managerial decisions; stores and processes
data.
,●● Information technology
Answer: The use of computer and telecommunications systems for
storing, retrieving, and sending information; comprised of hardware,
software, data, and networks.
●● information technology management
Answer: the management of hardware, software, data, networks, and
people that facilitate access to information and allow the organization to
achieve business objectives.
●● Strategic information system
Answer: provide tools used by an organization to accomplish specific
tasks to gain competitive advantage.
●● Social Networking and interpersonal skills.
Answer: Enhances interpersonal and relationship-forming skills.
●● Porters 5 competitive forces
Answer: Intensity competitive rivalry
bargaining power of customers
bargaining power of suppliers
threat of new entrants
, threat of substitutes
●● Network economics (network-based strategy)
Answer: the cost of adding another business participant to a business
venture is small, the potential gain is great.
●● Business ecosystems
Answer: Network of businesses involved in delivering a product through
mutual cooperation.
●● Product differentiation (business strategy)
Answer: offering a higher quality product to differentiate from others in
the market
●● growth (business strategy)
Answer: adding new products or new enhancements to existing products
●● Enterprise Resource Planning (ERP)
Answer: Involves utilizing computer technology to link various aspects
of a business; a very complex resource planning system that spans the
entire business; companies often have difficulty implementing the
system.
●● Customer Relationship Management (CRM)
