MIS 6713 Midterm Exam Questions and Answers | 100% Guaranteed Success

MIS 6713 Midterm Exam Questions and Answers | 100% Guaranteed Success General Manager - answer-manages entire organization or business unit Functional Manager - answer-knowledge worker in charge of a functional area or team End User - answer-Individuals who have direct use of software and content to complete tasks Data Scientist - answer-Knowledge worker able to exploit the availability of data to their advantage. Do not choose data architect Information Systems Professional - answer-Programmer, Network Administrator, Webmaster Why is there an Information Systems Course in the MBA Curriculum? - answer-Manger of many resources and many people, need to understand the tools that are being given to people. Need to interact with IT staff. CEOs, CFOs, CIOs. Why are more CIOs becoming CEOs? - answer-CEO historically has background in operations. CIOs recognize that information is the primary driver of value for organizations and CIOs are best equipped to run an organization. Moore's Law - answer-Computer processing power doubles roughly every 18 months (transistors on a chip). Trend has persisted since the 1960s.Information System - answer-Formal sociotechnical organizational system designed to college, process, store information (Formal implies that it has rules that are outlined and specified. Sociotechnical implies technical and human interaction. An organizational sponsor builds) Information Technology - answer-Tools that knowledge workers to find and create information Business Process - answer-series of steps needed to complete a business activity Systemic Effects - answer-interdependence and feedback between components 4 IS Components - answer-(People, technology, structure, processes) How do you know if an Information System Implementation has failed? - answer-People don't use it. Project or system is abandoned. What measures can you use to assess Information System Outcomes - answer-Use, efficiency, effectiveness First Order of Change - answer-only technical components change Second Order - answer-people change Third Order - answer-most disruptive, most dramatic - entire system changes STRUCTURE Business Process Reengineering - answer-managerial approach calling for a process view of organization activities, focusing on internal business integrationEnterprising Resource Planning - answer-Overcomes silos by integration, usually by putting data into one place. A modular integrated software application that spans all business functions and relies on one database at its core. Oracle and SAP are examples. Knowledge Management - answer-A set of activities and processes that an organization enacts to manage the wealth of knowledge that it possesses and to ensure that it is properly safeguarded and put to use to achieve its objective. Business Intelligence - answer-A set of techniques, processes, and technologies that are designed to gather and interpret data about a business in order to improve decision making and advance business interests. Hierarchical IS Classification - answer-worst - classify IS by organizational level they support. Functional IS Classification - answer-intermediate - classifies IS by business units they support Process Perspective - answer-best - classifies IS by business processes they support. Changing Nature of Knowledge Management - answer-Previous focus was to put all data into one place and later use it. Now we try to connect people (experts to novices being connected) to share knowledge as needed rather than a central knowledge repository. Similar to social media. Descriptive Analytics - answer-what has happened (current sales, etc) Can be used to perform predictive analytics Predictive Analytics - answer-What will occur (future sales, etc) Prescriptive Analytics - answer-What to do about predictive - respond to future trends3 Vs of Big Data - answer-Volume, Velocity, Variety Volume - answer-bigger amount of data Velocity - answer-real time data measurement Variety - answer-type of data being collected. New kinds of data. Andres Weigend quote - answer-Today in a single day we create more data than mankind did from its beginning through the year 2000. Positive Feedback - answer-self reinforcing mechanism by which the strong get stronger and the weak get weaker Competitive Advantage - answer-actual condition in which some organizations perform better than others. Evangelist Effect - answer-idea that some users spread the word about a network which causes others to join the network Disruptive Technology - answer-Offers a different set of attributes than the technology currently used, and offers higher performance improvement rates Sustaining Technology - answer-S curve. A sustaining technology improves (maintains or rejuvenates) an existing technology.The relationship between network value and size - answer-Bigger networks tend to convey more value. Tippy Markets - answer-a market in which the influence of positive feedback and network effects are strong and one organization is more likely to emerge and win Difference between Data and Information - answer-Data is raw recorded facts. Information has been put into context and can be used by individual users. Characteristics of Information Goods - answer-no natural capacity limits, not consumed by use, high production costs, low replicable & distribution costs, costs are sunk Web 2.0 - answer-a perceived wave of innovation and evolution occurring on the internet in which nontechnical users are able to create information on the web Ubiquity - answer-users can access from anywhere Electronic Commerce - answer-process of distrbuing, buying, selling, products and services using computer networks such as internet Brick and Mortar - answer-physical store Bricks and Clicks - answer-physical store and also online transactions Pure Play - answer-just online only Disintermediation - answer-removing the middle man in distribution. Process by which a distribution chain is shortened.Reintermediation - answer-putting a new or different intermediate into the supply chain Crowd Sourcing - answer-asking the "internet of people" to do things for you. Opportunity that modifies the internet of people beyond advertisement. Characteristics of the Internet - answer-distributed ownership (shared), multiplicity of devices, open standards, connected networks (networks of networks) Characteristics of Mobile Devices - answer-ubiquity, identifiability (who's using the device), context awareness (changing environment based on what user is doing) Business Model Canvas Elements - answer-Customer segmentation (define where customers are based on what is observable and predictable), Value Proposition (generate value for each segment), Channels (how to reach customers), Customer Relationships, Revenue Streams, Key Resources, Key Activities, Key Partnerships, Cost Structure B2B - answer-Business to Business B2C - answer-Business to Consumer (Walmart is an example) C2B - answer-Consumer to Business (sells something to business like ad spaces) C2C - answer-Consumer to Consumer (Ebay is an example)