MISY Test 1 Questions and Answers Correctly Solved 2024.

MISY Test 1 Questions and Answers Correctly Solved 2024. MIS is a business function, like accounting or sales, which moves information about people, products, and processes across the company to facilitate decision making and problem solving. What does MIS stand for? - correct answer Management Information System How are the majority of companies today typically organized? - correct answer By departments or functional areas. Which of the following is a common approach to closing an MIS skills gap? - correct answer Off-site training. Mentoring services. Social recruiting. A grilled cheese sandwich is considered the final output of a making-a-sandwich process. - correct answer True Which of the following is considered a good? - correct answer Milk and eggs What is buyer power? - correct answer The ability of buyers to affect the price they must pay for an item What are business analytics? - correct answer The scientific process of transforming data into insight for making better decisions What type of report can include a sales report from last year or salary report from five years ago? - correct answer Static report. Broad differentiation, broad cost leadership, and ________ create the three generic strategies identified by Porter. - correct answer Focused strategy An overview of systems thinking includes input, process, output, and finances. - correct answer False What is business intelligence? - correct answer Information collected from multiple sources that analyzes patterns, trends, and relationships for strategic decision making. MIS skills gap is the difference between existing MIS workplace knowledge and the knowledge required to fulfill the business goals and strategies. - correct answer True What are Porter's three generic strategies? - correct answer Generic business strategies that are neither organization nor industry specific and can be applied to any business, product, or service.