Management 3300 - Mizzou, Exam 1, Christianson
Questions with Correct Answers
6 major roles of information systems Correct Answer-1. supporting
customer interactions
2. making decisions
3. collaborating on teams
4. gaining competitive advantage
5. improving individual productivity
6. managing operations
operations management Correct Answer-involves the design, operation,
and improvement of the systems and processes the organization uses to
deliver its goods and services
is the management of systems and processes that create goods and/or
provide services
commercial produced information system Correct Answer-many
organizations choose ________ to handle their back-office information
needs, relying on software packages
India became known as the world's "back office" because so many
companies moved these applications there
,customer relationship management (CRM) systems Correct Answer-
build and maintain relationships and support all the processes that
underlie them
churn Correct Answer-= number of customers lost in period / number of
total customers at beginning of period
customer lifetime value Correct Answer-= average revenue per user /
churn rate
tactics to reduce churn Correct Answer-call your customers; find out
why they cancelled
measure customer engagement; happiness
figure out what features make your product sticky
allocate your best reps to the job of saving customers that call to cancel
consider testing a longer term contract
look for other factors that correlate with churn
,virtual team Correct Answer-refers to a group of individuals who work
together from different geographic locations and rely on communication
technology to collaborate
competitive advantage (class notes) Correct Answer-anything that gives
a firm a lead over its rivals
can be gained through the development and application of innovative
information systems
competition is for losers
new companies should always strive for monopoly
data driven decision making Correct Answer-draws on billions of pieces
of data to reveal important trends and patterns
business intelligence Correct Answer-refers to all the information
managers use to make decisions, and it can come from many sources
beyond the organization's own information systems
decision support systems and business intelligence encompass a growing
and varied category that blends rapid analysis of information sources
with artificial intelligence and human knowledge
, social networking sites Correct Answer-support online communities of
people who create profiles for themselves, form ties with others with
whom they share interests, and make new connections based on those
ties
the information systems that support virtual teamwork are in some
respects still in their infancy -- especially compared with the more
mature systems used to manage operations
competitive advantage Correct Answer-anything that gives a firm a lead
over its rivals, can be guided through the development and application of
innovative information systems
value and meaning Correct Answer-knowledge > information > data
data Correct Answer-refers to individual facts or pieces of information
ex: a patient's single high-temp reading at a 24 hour walk in clinic
information Correct Answer-refers to data or facts that are assembled
and analyzed to add meaning and usefulness
ex: table showing flu diagnoses in region during December
knowledge Correct Answer-ex: worldwide map of flue outbreaks
suggesting pandemic
Questions with Correct Answers
6 major roles of information systems Correct Answer-1. supporting
customer interactions
2. making decisions
3. collaborating on teams
4. gaining competitive advantage
5. improving individual productivity
6. managing operations
operations management Correct Answer-involves the design, operation,
and improvement of the systems and processes the organization uses to
deliver its goods and services
is the management of systems and processes that create goods and/or
provide services
commercial produced information system Correct Answer-many
organizations choose ________ to handle their back-office information
needs, relying on software packages
India became known as the world's "back office" because so many
companies moved these applications there
,customer relationship management (CRM) systems Correct Answer-
build and maintain relationships and support all the processes that
underlie them
churn Correct Answer-= number of customers lost in period / number of
total customers at beginning of period
customer lifetime value Correct Answer-= average revenue per user /
churn rate
tactics to reduce churn Correct Answer-call your customers; find out
why they cancelled
measure customer engagement; happiness
figure out what features make your product sticky
allocate your best reps to the job of saving customers that call to cancel
consider testing a longer term contract
look for other factors that correlate with churn
,virtual team Correct Answer-refers to a group of individuals who work
together from different geographic locations and rely on communication
technology to collaborate
competitive advantage (class notes) Correct Answer-anything that gives
a firm a lead over its rivals
can be gained through the development and application of innovative
information systems
competition is for losers
new companies should always strive for monopoly
data driven decision making Correct Answer-draws on billions of pieces
of data to reveal important trends and patterns
business intelligence Correct Answer-refers to all the information
managers use to make decisions, and it can come from many sources
beyond the organization's own information systems
decision support systems and business intelligence encompass a growing
and varied category that blends rapid analysis of information sources
with artificial intelligence and human knowledge
, social networking sites Correct Answer-support online communities of
people who create profiles for themselves, form ties with others with
whom they share interests, and make new connections based on those
ties
the information systems that support virtual teamwork are in some
respects still in their infancy -- especially compared with the more
mature systems used to manage operations
competitive advantage Correct Answer-anything that gives a firm a lead
over its rivals, can be guided through the development and application of
innovative information systems
value and meaning Correct Answer-knowledge > information > data
data Correct Answer-refers to individual facts or pieces of information
ex: a patient's single high-temp reading at a 24 hour walk in clinic
information Correct Answer-refers to data or facts that are assembled
and analyzed to add meaning and usefulness
ex: table showing flu diagnoses in region during December
knowledge Correct Answer-ex: worldwide map of flue outbreaks
suggesting pandemic
