COMM 226 Final Exam Questions and
Answers Verified Solutions Latest
Update
Question:
What is Moore's Law and why does it matter?
Answer:
Moore's Law says computer power (transistors on a chip) doubles every 18 months.
This makes tech faster and cheaper. It leads to powerful, affordable tools for business.
Question:
What are the results of cheaper technology?
Answer:
Costs for storing, processing, and communicating data are almost $0. Helps new tech
grow: AI, blockchain, VR, Big Data, etc. Most jobs now need IT knowledge.
Question:
What is the Information Age and how does it affect jobs?
Answer:
Businesses must keep up with fast-changing tech. Data is growing fast, and decisions
are data-driven. Success requires adaptable, tech-savvy workers.
Question:
What 4 skills does MIS help you develop?
Answer:
Abstract reasoning (create models) Systems thinking (see how everything connects)
Collaboration (work with others effectively) Experimentation (test ideas, learn from
failure)
,Question:
Why is IT important for every business area?
Answer:
IT is used in marketing, accounting, finance, management. It's not just for "IT people"
— all business students need to understand it.
Question:
What are processes, info systems, and information?
Answer:
Processes: Steps to do business tasks (like taking orders) Information systems: Tools
and systems that collect, store, and process data Information: What we learn from the
data to make decisions
Question:
What does MIS help businesses do?
Answer:
MIS helps businesses create, monitor, and adapt processes and systems to support
strategies. All three — processes, systems, and info — need constant improvement.
Question:
What does MIS stand for and why is it important?
Answer:
MIS = Management Information Systems. It's essential for helping businesses use
technology to run efficiently, make decisions, and stay competitive. Every business
student should understand it.
Question:
How does MIS help with business strategy?
Answer:
It aligns tech with business goals. Bad example: starting a social media page just to
copy others. Good strategy: use tech that serves a purpose and adds value.
, Question:
What are the 5 forces that shape industries?
Answer:
Threat of substitutes Threat of new entrants Existing rivals Bargaining power of
suppliers Bargaining power of customers
Question:
What is a competitive strategy?
Answer:
It's how a business responds to competition. Porter says there are 4 options: Lowest
cost across the whole industry Best product across the whole industry Lowest cost in a
niche Best product in a niche
Question:
What are the 4 competitive strategies?
Answer:
Cheap for all (like Walmart) Best for all (like Apple) Cheap for a niche (like Ryanair)
Best for a niche (like Lululemon) Choose one only! Don't mix strategies.
Question:
How does a company's strategy affect its MIS?
Answer:
Industry Structure ➔ Strategy ➔ Value Chain ➔ Business Processes ➔ Info Systems.
Each step shapes the next. MIS must support the company strategy.
Question:
What is a value chain?
Answer:
It's the full set of steps a company takes to make and deliver a product or service.
Every step should add value!
Answers Verified Solutions Latest
Update
Question:
What is Moore's Law and why does it matter?
Answer:
Moore's Law says computer power (transistors on a chip) doubles every 18 months.
This makes tech faster and cheaper. It leads to powerful, affordable tools for business.
Question:
What are the results of cheaper technology?
Answer:
Costs for storing, processing, and communicating data are almost $0. Helps new tech
grow: AI, blockchain, VR, Big Data, etc. Most jobs now need IT knowledge.
Question:
What is the Information Age and how does it affect jobs?
Answer:
Businesses must keep up with fast-changing tech. Data is growing fast, and decisions
are data-driven. Success requires adaptable, tech-savvy workers.
Question:
What 4 skills does MIS help you develop?
Answer:
Abstract reasoning (create models) Systems thinking (see how everything connects)
Collaboration (work with others effectively) Experimentation (test ideas, learn from
failure)
,Question:
Why is IT important for every business area?
Answer:
IT is used in marketing, accounting, finance, management. It's not just for "IT people"
— all business students need to understand it.
Question:
What are processes, info systems, and information?
Answer:
Processes: Steps to do business tasks (like taking orders) Information systems: Tools
and systems that collect, store, and process data Information: What we learn from the
data to make decisions
Question:
What does MIS help businesses do?
Answer:
MIS helps businesses create, monitor, and adapt processes and systems to support
strategies. All three — processes, systems, and info — need constant improvement.
Question:
What does MIS stand for and why is it important?
Answer:
MIS = Management Information Systems. It's essential for helping businesses use
technology to run efficiently, make decisions, and stay competitive. Every business
student should understand it.
Question:
How does MIS help with business strategy?
Answer:
It aligns tech with business goals. Bad example: starting a social media page just to
copy others. Good strategy: use tech that serves a purpose and adds value.
, Question:
What are the 5 forces that shape industries?
Answer:
Threat of substitutes Threat of new entrants Existing rivals Bargaining power of
suppliers Bargaining power of customers
Question:
What is a competitive strategy?
Answer:
It's how a business responds to competition. Porter says there are 4 options: Lowest
cost across the whole industry Best product across the whole industry Lowest cost in a
niche Best product in a niche
Question:
What are the 4 competitive strategies?
Answer:
Cheap for all (like Walmart) Best for all (like Apple) Cheap for a niche (like Ryanair)
Best for a niche (like Lululemon) Choose one only! Don't mix strategies.
Question:
How does a company's strategy affect its MIS?
Answer:
Industry Structure ➔ Strategy ➔ Value Chain ➔ Business Processes ➔ Info Systems.
Each step shapes the next. MIS must support the company strategy.
Question:
What is a value chain?
Answer:
It's the full set of steps a company takes to make and deliver a product or service.
Every step should add value!
