COMM 226 TEST COMPLETE STUDY GUIDE
WITH SOLVED QUESTIONS
◉ What does MIS help businesses do?
Answer: MIS helps businesses create, monitor, and adapt processes
and systems to support strategies. All three — processes, systems,
and info — need constant improvement.
◉ What does MIS stand for and why is it important?
Answer: MIS = Management Information Systems. It's essential for
helping businesses use technology to run efficiently, make decisions,
and stay competitive. Every business student should understand it.
◉ How does MIS help with business strategy?
Answer: It aligns tech with business goals. Bad example: starting a
social media page just to copy others. Good strategy: use tech that
serves a purpose and adds value.
◉ What are the 5 forces that shape industries?
Answer: Threat of substitutes
Threat of new entrants
Existing rivals
,Bargaining power of suppliers
Bargaining power of customers
◉ What is a competitive strategy?
Answer: It's how a business responds to competition. Porter says
there are 4 options:
Lowest cost across the whole industry
Best product across the whole industry
Lowest cost in a niche
Best product in a niche
◉ What are the 4 competitive strategies?
Answer: Cheap for all (like Walmart)
Best for all (like Apple)
Cheap for a niche (like Ryanair)
Best for a niche (like Lululemon) Choose one only! Don't mix
strategies.
◉ How does a company's strategy affect its MIS?
Answer: Industry Structure ➔ Strategy ➔ Value Chain ➔ Business
Processes ➔ Info Systems. Each step shapes the next. MIS must
support the company strategy.
, ◉ What is a value chain?
Answer: It's the full set of steps a company takes to make and deliver
a product or service. Every step should add value!
◉ What are the 5 main value chain steps?
Answer: Inbound logistics: Getting materials
Operations: Making the product
Outbound logistics: Delivering it
Sales/marketing: Selling it
Customer service: Supporting buyers
◉ What are support activities in the value chain?
Answer: Procurement (buying from suppliers)
Tech development (innovation)
HR (hiring, training)
Infrastructure (finance, legal, etc.)
◉ What are linkages in the value chain?
Answer: It's how different steps work together. Example: Sales
forecasts help decide how much to produce (saves inventory costs).
This enables just-in-time inventory = less waste + more efficiency.
WITH SOLVED QUESTIONS
◉ What does MIS help businesses do?
Answer: MIS helps businesses create, monitor, and adapt processes
and systems to support strategies. All three — processes, systems,
and info — need constant improvement.
◉ What does MIS stand for and why is it important?
Answer: MIS = Management Information Systems. It's essential for
helping businesses use technology to run efficiently, make decisions,
and stay competitive. Every business student should understand it.
◉ How does MIS help with business strategy?
Answer: It aligns tech with business goals. Bad example: starting a
social media page just to copy others. Good strategy: use tech that
serves a purpose and adds value.
◉ What are the 5 forces that shape industries?
Answer: Threat of substitutes
Threat of new entrants
Existing rivals
,Bargaining power of suppliers
Bargaining power of customers
◉ What is a competitive strategy?
Answer: It's how a business responds to competition. Porter says
there are 4 options:
Lowest cost across the whole industry
Best product across the whole industry
Lowest cost in a niche
Best product in a niche
◉ What are the 4 competitive strategies?
Answer: Cheap for all (like Walmart)
Best for all (like Apple)
Cheap for a niche (like Ryanair)
Best for a niche (like Lululemon) Choose one only! Don't mix
strategies.
◉ How does a company's strategy affect its MIS?
Answer: Industry Structure ➔ Strategy ➔ Value Chain ➔ Business
Processes ➔ Info Systems. Each step shapes the next. MIS must
support the company strategy.
, ◉ What is a value chain?
Answer: It's the full set of steps a company takes to make and deliver
a product or service. Every step should add value!
◉ What are the 5 main value chain steps?
Answer: Inbound logistics: Getting materials
Operations: Making the product
Outbound logistics: Delivering it
Sales/marketing: Selling it
Customer service: Supporting buyers
◉ What are support activities in the value chain?
Answer: Procurement (buying from suppliers)
Tech development (innovation)
HR (hiring, training)
Infrastructure (finance, legal, etc.)
◉ What are linkages in the value chain?
Answer: It's how different steps work together. Example: Sales
forecasts help decide how much to produce (saves inventory costs).
This enables just-in-time inventory = less waste + more efficiency.
