MIS 290 Exam 1 with complete solutions graded A+

MIS 290 Exam 1What are Information Systems? - correct answer formal, sociotechnical, organizational systems designed to collect, process, store, and distribute information. In a sociotechnical perspective, information systems are composed by four components: task, people, structure, and technology. An integrated set of components for collecting, storing, and processing data and for providing information, knowledge, and digital products. Why do companies invest in Information Systems? - correct answer operational excellence, higher profitability, higher efficieny How do business professionals in Finance use information systems? - correct answer investment banking. Many i-bankers will work on IPOs (initial public stock offerings), valuing merger and acquisition (M&A) deals, lending to tech firms and evaluating the role of technology in firms in an investment portfolio How can your technical skills contribute to company success? - correct answer What is Sarbanes-Oxley Act? - correct answer raises the executive and board responsibilities and ties criminal penalties to certain accounting and financial violations What is the difference between information systems and information technology? - correct answer information systems incorporates the technology, people and processes involved with information Information technology is the design and implementation of information, or data, within the information system What are the skills required to work in an IS career? - correct answer programming, designing, process, project management, privacy and strategy RFID - correct answer radio frequency identification form of wireless communication that incorporates the use of electromagnetic or electrostatic coupling in the radio frequency portion of the electromagnetic spectrum to uniquely identify an object, animal or person