MANAGEMENT EXAM 2026/2027 LATEST
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Executive information system A system that facilitates and supports senior
managerial decisions.
Data Unorganized data that lacks meaning.
Information Data that has been organized in a meaningful
manner.
Information system 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 The practical application of information.
,Data, Information, and Knowledge Data: The number of people below the poverty line
example 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 This system uses models and statistical analysis to
help decision makers solve problems
Management information system Provides timely and accurate information that
(MIS) enables managers to manage their departments
more efficiently; analyzes performance.
Transaction processing system information system used for processing patient
admissions, employee time cards, and purchase
orders
Information management 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 The use of computer and telecommunications
systems for storing, retrieving, and sending
information; comprised of hardware, software,
data, and networks.
,information technology management 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 provide tools used by an organization to
accomplish specific tasks to gain competitive
advantage.
Social Networking and interpersonal Enhances interpersonal and relationship-forming
skills. skills.
Porters 5 competitive forces Intensity competitive rivalry
bargaining power of customers
bargaining power of suppliers
threat of new entrants
threat of substitutes
Network economics (network-based the cost of adding another business participant to a
strategy) business venture is small, the potential gain is great.
Business ecosystems Network of businesses involved in delivering a
product through mutual cooperation.
Product differentiation (business offering a higher quality product to differentiate
strategy) from others in the market
growth (business strategy) adding new products or new enhancements to
existing products
, Enterprise Resource Planning (ERP) 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 Allows for personalized communication to
(CRM) customers.
Knowledge Management (KM) These systems provide tools to help manage
organizational knowledge and create value to
meet business requirements and strategic goals.
chief executive officer (CEO) also called president or managing director, is
responsible for the success or failure of the
company, creating the company culture, selecting
the senior management team, setting strategy and
vision, and selecting projects to fund.
chief operations officer (COO) is the director of operations, responsible for the
oversight of internal operations on a day-to-day
basis and for monitoring production quotas
chief financial officer (CFO) manages the company's cash flow and evaluates
and communicates financial risks.
chief information officer (CIO) a business leader who analyzes internal business
processes such as payroll and billing, reshapes the
physical infrastructure and network purchases to
meet business goals, and leads the workforce to
implement critical IT internal projects; responsible
for information systems strategic thinking and
planning.