Management 3300 - Mizzou, Exam 1,
Christianson UPDATED Exam Questions
and 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
3 characteristics that make information valuable - CORRECT ANSWER - 1. timeliness
--- near real-time information costs more
--- is the information current with respect to the business requirements? updated weekly, daily,
hourly?
2. accuracy
--- the more accurate, the longer it may take to obtain
--- are all values correct?
3. completeness
--- adds value, particularly as a means to avoid bias or spin
--- are there any values missing?
--- ex: mall survey isn't complete bc of online shoppers
information system - CORRECT ANSWER - a system that brings together four critical
components to collect, process, manage, analyze, and distribute information
the four components are people, technology, processes, and data
people - CORRECT ANSWER - the design, development, launch, and maintenance of any
information system involve teams of people
user generated content
leaders, managers and staff, information technology team
Christianson UPDATED Exam Questions
and 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
3 characteristics that make information valuable - CORRECT ANSWER - 1. timeliness
--- near real-time information costs more
--- is the information current with respect to the business requirements? updated weekly, daily,
hourly?
2. accuracy
--- the more accurate, the longer it may take to obtain
--- are all values correct?
3. completeness
--- adds value, particularly as a means to avoid bias or spin
--- are there any values missing?
--- ex: mall survey isn't complete bc of online shoppers
information system - CORRECT ANSWER - a system that brings together four critical
components to collect, process, manage, analyze, and distribute information
the four components are people, technology, processes, and data
people - CORRECT ANSWER - the design, development, launch, and maintenance of any
information system involve teams of people
user generated content
leaders, managers and staff, information technology team
