Management 3300 Mizzou Exam 1 Questions with
Correct Answers
6 Major Roles of Information Systems Correct Answer ✓✓ Supporting
customer interactions
managing operations
improving individual productivity
making decisions
collaborating on teams
gaining competitive advantage
operations management Correct Answer ✓✓ the management of
systems and processes that create goods and or provide services
virtual team Correct Answer ✓✓ a group of individuals who work
together from different geographic locations and rely on communication
technology to collaborate
competitive advantage Correct Answer ✓✓ anything that gives a firm a
lead over its rivals
it can be gained through the development and application of innovative
information systems.
losers Correct Answer ✓✓ competition is for
monopoly Correct Answer ✓✓ new companies should always strive for
, Customer Relations Management (CRM) Correct Answer ✓✓ acquiring
new relationships
enhancing existing relationships
retaining customer relationships
churn Correct Answer ✓✓ # of customers lost in a period/# of total
customers at beginning of period
or
$ of recurring revenue lost in period/ $ of total customers at beginning of
period
customer life time value (CLV) Correct Answer ✓✓ average revenue
per user/churn rate
data Correct Answer ✓✓ refers to individual facts or pieces of
information
raw ingredient for every information system
information Correct Answer ✓✓ refers to data or facts that are
assembled and analyzed to add meaning and usefulness
knowledge Correct Answer ✓✓ leads to a course of action or decision,
requires synthesizing info from various sources
Correct Answers
6 Major Roles of Information Systems Correct Answer ✓✓ Supporting
customer interactions
managing operations
improving individual productivity
making decisions
collaborating on teams
gaining competitive advantage
operations management Correct Answer ✓✓ the management of
systems and processes that create goods and or provide services
virtual team Correct Answer ✓✓ a group of individuals who work
together from different geographic locations and rely on communication
technology to collaborate
competitive advantage Correct Answer ✓✓ anything that gives a firm a
lead over its rivals
it can be gained through the development and application of innovative
information systems.
losers Correct Answer ✓✓ competition is for
monopoly Correct Answer ✓✓ new companies should always strive for
, Customer Relations Management (CRM) Correct Answer ✓✓ acquiring
new relationships
enhancing existing relationships
retaining customer relationships
churn Correct Answer ✓✓ # of customers lost in a period/# of total
customers at beginning of period
or
$ of recurring revenue lost in period/ $ of total customers at beginning of
period
customer life time value (CLV) Correct Answer ✓✓ average revenue
per user/churn rate
data Correct Answer ✓✓ refers to individual facts or pieces of
information
raw ingredient for every information system
information Correct Answer ✓✓ refers to data or facts that are
assembled and analyzed to add meaning and usefulness
knowledge Correct Answer ✓✓ leads to a course of action or decision,
requires synthesizing info from various sources
