SDSU - MIS 180 EXAM 1 QUESTIONS
WITH COMPLETE SOLUTIONS
What is a fact? - ANSWERthe confirmation or validation of an event or object
What are the core drivers of the information age? - ANSWER1. data
2. information
3. business intelligence
4. knowledge
What is the information age? - ANSWERthe present time, during which infinite
quantities of facts are widely available to anyone who can use a computer
What is data? - ANSWERthe raw facts that describe the characteristics of an even or
object
What is information? - ANSWERdata converted into meaningful and useful context
What is business intelligence (BI)? - ANSWERinformation collected from multiple
sources such as suppliers, customers, competitors, partners, and industries that
analyzes patterns, trends, and relationships for strategic decision making
What is knowledge? - ANSWERthe skills, experience, and expertise, coupled with
information and intelligence, that creates a person's intellectual resources
What are knowledge workers? - ANSWERindividuals valued for their ability to interpret
and analyze information
What is systems thinking? - ANSWERA way of monitoring the entire system by viewing
multiple inputs being processed or transformed to produce outputs while continuously
gathering feedback on each part
What is feedback? - ANSWERinformation that returns to its original transmitter (input,
transform, or output) and modifies the transmitter's actions
What are management information systems (MIS)? - ANSWERA business function, like
accounting and human resources, which moves information about people, products,
and processes across the company to facilitate decision-making and problem-solving
chief Information Officer (CIO) - ANSWERresponsible for overseeing all uses of MIS
and ensuring that MIS strategically aligns with business goals and objectives
chief knowledge officer (CKO) - ANSWERresponsible for collecting, maintaining, and
distributing company knowledge
, chief privacy officer (CPO) - ANSWERresponsible for ensuring the ethical and legal use
of information within a company
chief security officer (CSO) - ANSWERresponsible for ensuring the security of business
systems and developing strategies and safeguards against attacks by hackers and
viruses
chief technology officer (CTO) - ANSWERresponsible for ensuring the speed, accuracy,
availability, and reliability of the MIS
What is a business strategy? - ANSWERA leadership plan that achieves a specific set
of goals or objectives such as:
- developing new products or services
- entering new markets
- increasing customer loyalty
- attracting new customers
- increasing sales
- decreasing costs
What is a competitive advantage? - ANSWERA product or service that an organization's
customers place a greater value on than similar offerings from a competitor
what are ways that companies duplicate competitive advantages? - ANSWER-
acquiring the new technology
- copying the business operations
- hiring away key employees
What is first-mover advantage? - ANSWEROccurs when an organization can
significantly affect its market share by being first to market with a competitive advantage
What is competitive intelligence? - ANSWERThe process of gathering information about
the competitive environment to improve the company's ability to succeed
What are the three common tools to analyze competitive intelligence and develop
competitive advantages? - ANSWER1. The Five Forces Model (for evaluating industry
attractiveness)
2. the three generic strategies (for choosing a business focus)
3. Value chain analysis (for executing business strategies)
What is buyer power? - ANSWERThe ability of buyers to affect the price of an item
What is switching costs? - ANSWERManipulating costs that make customers reluctant
to switch to another product
WITH COMPLETE SOLUTIONS
What is a fact? - ANSWERthe confirmation or validation of an event or object
What are the core drivers of the information age? - ANSWER1. data
2. information
3. business intelligence
4. knowledge
What is the information age? - ANSWERthe present time, during which infinite
quantities of facts are widely available to anyone who can use a computer
What is data? - ANSWERthe raw facts that describe the characteristics of an even or
object
What is information? - ANSWERdata converted into meaningful and useful context
What is business intelligence (BI)? - ANSWERinformation collected from multiple
sources such as suppliers, customers, competitors, partners, and industries that
analyzes patterns, trends, and relationships for strategic decision making
What is knowledge? - ANSWERthe skills, experience, and expertise, coupled with
information and intelligence, that creates a person's intellectual resources
What are knowledge workers? - ANSWERindividuals valued for their ability to interpret
and analyze information
What is systems thinking? - ANSWERA way of monitoring the entire system by viewing
multiple inputs being processed or transformed to produce outputs while continuously
gathering feedback on each part
What is feedback? - ANSWERinformation that returns to its original transmitter (input,
transform, or output) and modifies the transmitter's actions
What are management information systems (MIS)? - ANSWERA business function, like
accounting and human resources, which moves information about people, products,
and processes across the company to facilitate decision-making and problem-solving
chief Information Officer (CIO) - ANSWERresponsible for overseeing all uses of MIS
and ensuring that MIS strategically aligns with business goals and objectives
chief knowledge officer (CKO) - ANSWERresponsible for collecting, maintaining, and
distributing company knowledge
, chief privacy officer (CPO) - ANSWERresponsible for ensuring the ethical and legal use
of information within a company
chief security officer (CSO) - ANSWERresponsible for ensuring the security of business
systems and developing strategies and safeguards against attacks by hackers and
viruses
chief technology officer (CTO) - ANSWERresponsible for ensuring the speed, accuracy,
availability, and reliability of the MIS
What is a business strategy? - ANSWERA leadership plan that achieves a specific set
of goals or objectives such as:
- developing new products or services
- entering new markets
- increasing customer loyalty
- attracting new customers
- increasing sales
- decreasing costs
What is a competitive advantage? - ANSWERA product or service that an organization's
customers place a greater value on than similar offerings from a competitor
what are ways that companies duplicate competitive advantages? - ANSWER-
acquiring the new technology
- copying the business operations
- hiring away key employees
What is first-mover advantage? - ANSWEROccurs when an organization can
significantly affect its market share by being first to market with a competitive advantage
What is competitive intelligence? - ANSWERThe process of gathering information about
the competitive environment to improve the company's ability to succeed
What are the three common tools to analyze competitive intelligence and develop
competitive advantages? - ANSWER1. The Five Forces Model (for evaluating industry
attractiveness)
2. the three generic strategies (for choosing a business focus)
3. Value chain analysis (for executing business strategies)
What is buyer power? - ANSWERThe ability of buyers to affect the price of an item
What is switching costs? - ANSWERManipulating costs that make customers reluctant
to switch to another product
