WGU C773 TASK 1 UPDATED QUESTIONS
AND CORRECT 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)
Answer: Allows for personalized communication to customers.
◉ Knowledge Management (KM)
AND CORRECT 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)
Answer: Allows for personalized communication to customers.
◉ Knowledge Management (KM)
