Management 366 - Kansas State University (Final Exam) UPDATED ACTUAL
Questions And Correct Answers
Terms in this set (130)
What is Bell's Law, and what does it mean for today's A new class of computers establishes a new industry each decade. Successful
successful businesses? businesses could go bankrupt quickly because technology changed and it didn't
Abstract Reasoning? Construct a model or representation
Systems Thinking? Model system components and show how components' inputs and outputs relate
to one another
Collaboration? Develop ideas and plans with others. Provide and receive critical feedback
Ability to Experiment? Create and test promising new alternatives, consistent with available resources
Management Information Systems? (MIS) The management and use of information systems to achieve business strategies
Why is it important for business professionals to take an - To make sure the systems meet their needs
active role in developing and managing information - Understand how IS are constructed
systems? - Consider users' needs during development
- Learn how to use IS
- Understand ancillary requirements
Information Technology? (IT) Any computer-based tool that people use to work with information and support
the information and information-processing needs of an organization
Information Systems? (IS) collects, processes, stores, and analyzes information for a specific purpose
What is a Business Process? A network of activities for accomplishing a business function
What is the difference between Efficiency and Efficiency explains how much it costs and how great the benefits are, and
Effectiveness? Can IS improve process quality? Effectiveness is how well is it being portrayed. Yes
Automation? The use of technology to ease human labor or to extend the mental or physical
capabilities of humans
Data? Facts and statistics collected together for reference or analysis
Information? Knowledge derived from data, where data are recorded facts and figures
, What are the 5 components in the information systems 1. Hardware
framework? What side is the computer side and which 2. Software
side is the human side? What side does the work move 3. Data
from right-to-left or left-to-right? 4. Procedures
5. People
Computer side - Hardware, software
Human side - Procedures, people
Right-to-Left
Value Chain? The set of activities through which a product or service is created and delivered
to customers
Margin? A border or edge; a limit in condition or ability; an amount or degree of difference
What are Porter's generic competitive strategies? - Cost
- Differentiation
- Industry-wide
- Focus
How does competitive strategy determine value chain Depending if the company wants to be a low-cost store or a high-cost store. If
structure? they are low-cost they will base everything they do about saving money, if it is a
high-cost store then they will base everything they do around luxury and detail
Which should come first: The information system or Competitive strategy
competitive strategy?
Central Processing Unit? (CPU) Reads data and instructions from memory, and stores results of computation in
memory
Bit? (Binary Digit) The smallest unit of computer data with a binary value of either 1 or 0. Represents
(On/Off, Yes/No)
Byte? A group of 8 bits, the smallest number of bits needed to represent a single
character
Operating System? (OS) Provides an interface between the user or application program and the computer
hardware
Internet of Things? (IoT) Everyday objects embedded with hardware capable of sensing, processing, and
transmitting data
Source Code? Human-readable computer code
What are the types of Virtualization? - PC Virtualization
- Server Virtualization
- Desktop Virtualization
Virtualization? Creates multiple "virtual" machines on a single computing device
Questions And Correct Answers
Terms in this set (130)
What is Bell's Law, and what does it mean for today's A new class of computers establishes a new industry each decade. Successful
successful businesses? businesses could go bankrupt quickly because technology changed and it didn't
Abstract Reasoning? Construct a model or representation
Systems Thinking? Model system components and show how components' inputs and outputs relate
to one another
Collaboration? Develop ideas and plans with others. Provide and receive critical feedback
Ability to Experiment? Create and test promising new alternatives, consistent with available resources
Management Information Systems? (MIS) The management and use of information systems to achieve business strategies
Why is it important for business professionals to take an - To make sure the systems meet their needs
active role in developing and managing information - Understand how IS are constructed
systems? - Consider users' needs during development
- Learn how to use IS
- Understand ancillary requirements
Information Technology? (IT) Any computer-based tool that people use to work with information and support
the information and information-processing needs of an organization
Information Systems? (IS) collects, processes, stores, and analyzes information for a specific purpose
What is a Business Process? A network of activities for accomplishing a business function
What is the difference between Efficiency and Efficiency explains how much it costs and how great the benefits are, and
Effectiveness? Can IS improve process quality? Effectiveness is how well is it being portrayed. Yes
Automation? The use of technology to ease human labor or to extend the mental or physical
capabilities of humans
Data? Facts and statistics collected together for reference or analysis
Information? Knowledge derived from data, where data are recorded facts and figures
, What are the 5 components in the information systems 1. Hardware
framework? What side is the computer side and which 2. Software
side is the human side? What side does the work move 3. Data
from right-to-left or left-to-right? 4. Procedures
5. People
Computer side - Hardware, software
Human side - Procedures, people
Right-to-Left
Value Chain? The set of activities through which a product or service is created and delivered
to customers
Margin? A border or edge; a limit in condition or ability; an amount or degree of difference
What are Porter's generic competitive strategies? - Cost
- Differentiation
- Industry-wide
- Focus
How does competitive strategy determine value chain Depending if the company wants to be a low-cost store or a high-cost store. If
structure? they are low-cost they will base everything they do about saving money, if it is a
high-cost store then they will base everything they do around luxury and detail
Which should come first: The information system or Competitive strategy
competitive strategy?
Central Processing Unit? (CPU) Reads data and instructions from memory, and stores results of computation in
memory
Bit? (Binary Digit) The smallest unit of computer data with a binary value of either 1 or 0. Represents
(On/Off, Yes/No)
Byte? A group of 8 bits, the smallest number of bits needed to represent a single
character
Operating System? (OS) Provides an interface between the user or application program and the computer
hardware
Internet of Things? (IoT) Everyday objects embedded with hardware capable of sensing, processing, and
transmitting data
Source Code? Human-readable computer code
What are the types of Virtualization? - PC Virtualization
- Server Virtualization
- Desktop Virtualization
Virtualization? Creates multiple "virtual" machines on a single computing device
