Information Systems Management
The purpose of information systems - correct answer-is to get useful information to the right
people within an organization to support decision making and operations.
Transaction processing systems (TPS) - correct answer-collect, store, update, and retrieve
transaction data within an organization. Common business transactions include employee
payroll, customer sales, and supplier payments.
Management information systems (MIS) - correct answer-represent a category of information
systems that serve lower to middle managers.
provide performance reports based on the results from transaction processing systems, such
as product cost data, sales data, and expense data.
This information guides managers with tactical decisions and predictions for future business
performance.
computer-based systems that provide managers with tools to organize, evaluate, and
manage their departments; they also provide performance reports.
Decision-support systems (DSS) - correct answer-These systems focus on unique problems
that arise and procedures for arriving at a solution, using information from both the
transaction processing systems and the management information system, along with
external factors such as stockholders requirements, regulations, product pricing, and
competition.
Decision-support systems - correct answer-use information from both the transaction
processing systems and the management information system, along with external factors
such as stockholders requirements, regulations, product pricing, and competition.
Examples of decisions that might be made at this level are "What types of products should
our company be making in five years?" and "Which shipping method should we use to
maximize profit and maintain our current customer service?"
Middle to upper level managers use models to help with decision making needs for a
business. Decision systems are most concerned with understanding how business decisions
will impact the future.
Info 1 - correct answer-While MIS are generally applied to structured problems at the
organizational level, DSS are often developed to handle unstructured problems at all levels
(i.e., single user, group, or organization).
Further, MIS typically replace the decision maker by making automatic decisions. In contrast,
DSS support the entire decision-making process, but the actual decision is ultimately made
by a human.
,Executive information systems (EIS) - correct answer-are a specific class of DSS that
support the strategic decision-making process of top-level executives.
These systems help executives make strategic business decisions, incorporating
summarized information from decision support systems and management information
systems, along with external factors to forecast and analyze trends.
These systems incorporate summarized information from decision support systems and
management information systems, along with external factors to forecast and analyze
trends.
An example of an executive information system is a digital dashboard, which displays charts
and graphs showing up-to-the-moment performance indicators on sales, profit, expenses,
and inventory on an executive's computer.
information technology - correct answer-refers to the non-human, non-process components
of an information system (e.g., hardware including network devices, software applications
and data). Hardware, software, data, and networks make up information technology.
Information systems - correct answer-provide managerial and operational support to
businesses by collecting and processing data into useful information as well as providing for
storage, retrieval, and security of data and the information it's transformed into.
Information systems components - correct answer-People, processes, hardware, software,
networks, and data comprise the six major components of a computer-based information
system.
Information management - correct answer-is concerned with collecting, managing,
manipulating, organizing and reorganizing, and distributing information from a variety of
sources to a variety of audiences.
Information technology management - correct answer-is concerned with the management of
resources that facilitate access to information.
resources include computers and the technical infrastructures such as software, hardware,
networking, and data center technologies, and staff that support them, including the
technicians, analysts, project managers, and others.
strategic information system - correct answer-provide tools used by an organization to
accomplish specific tasks to gain competitive advantage.
Threat of New Entrants - correct answer-High when it is easy for new competitors to enter a
market and low when there are significant entry barriers
Threat of Substitute Products or Services - correct answer-High when there are many
alternatives to a product or service and low when there are few alternatives
, Bargaining Power of Customers (Buyers) - correct answer-Buyer power is high when buyers
have many choices from whom to buy and low when buyers have few choices.
Bargaining Power of Suppliers - correct answer-Suppliers can exert power by threatening to
raise prices or reduce the quality of purchased goods and services
Intensity of Competitive Rivalry - correct answer-When there are many competitors in an
industry, this threat is high.When there are many competitors, firms have to compete
aggressively for market shares, which can result in lower profits.
If a product is proprietary, belonging to a single organization, then this threat is low.
value chain - correct answer-is a set of inputs used by a strategic information system and put
into meaningful outputs to help a company gain a competitive advantage in the marketplace.
business ecosystem - correct answer-Loosely coupled but interdependent networks of
suppliers, distributors, outsourcing firms, transportation service firms, and technology
manufacturers.
that provide related products and services across many industries.
Virtual Company Model - correct answer-Networks of people and resources join together to
provide a service or create a product without the traditional storefront boundaries.
Two types of business strategies include - correct answer-product differentiation and growth.
Product differentiation strategy - correct answer-a marketing strategy that involves creating a
difference in consumers' minds between a particular product and competing products.
This strategy is built on a business identifying a core competency and basing their business
strategy around that core competency.
core competency - correct answer-a set of knowledge and skills that make the organization
superior to competitors and create value for customers
acquisition - correct answer-where one business purchases another.
Enterprise Resource Planning (ERP) internal use - correct answer-provide communication
between the various systems that are integral to a business, allowing standardization of
business procedures across all business units.
Customer Relationship Management (CRM) - correct answer-systems use technology to
merge marketing with business processes to strengthen customer relationships and
organize customer information.
Supply chain management (SCM) - correct answer-provides tools to help the business
manage supplier relationships, develop strategies to ensure quality products or services,
The purpose of information systems - correct answer-is to get useful information to the right
people within an organization to support decision making and operations.
Transaction processing systems (TPS) - correct answer-collect, store, update, and retrieve
transaction data within an organization. Common business transactions include employee
payroll, customer sales, and supplier payments.
Management information systems (MIS) - correct answer-represent a category of information
systems that serve lower to middle managers.
provide performance reports based on the results from transaction processing systems, such
as product cost data, sales data, and expense data.
This information guides managers with tactical decisions and predictions for future business
performance.
computer-based systems that provide managers with tools to organize, evaluate, and
manage their departments; they also provide performance reports.
Decision-support systems (DSS) - correct answer-These systems focus on unique problems
that arise and procedures for arriving at a solution, using information from both the
transaction processing systems and the management information system, along with
external factors such as stockholders requirements, regulations, product pricing, and
competition.
Decision-support systems - correct answer-use information from both the transaction
processing systems and the management information system, along with external factors
such as stockholders requirements, regulations, product pricing, and competition.
Examples of decisions that might be made at this level are "What types of products should
our company be making in five years?" and "Which shipping method should we use to
maximize profit and maintain our current customer service?"
Middle to upper level managers use models to help with decision making needs for a
business. Decision systems are most concerned with understanding how business decisions
will impact the future.
Info 1 - correct answer-While MIS are generally applied to structured problems at the
organizational level, DSS are often developed to handle unstructured problems at all levels
(i.e., single user, group, or organization).
Further, MIS typically replace the decision maker by making automatic decisions. In contrast,
DSS support the entire decision-making process, but the actual decision is ultimately made
by a human.
,Executive information systems (EIS) - correct answer-are a specific class of DSS that
support the strategic decision-making process of top-level executives.
These systems help executives make strategic business decisions, incorporating
summarized information from decision support systems and management information
systems, along with external factors to forecast and analyze trends.
These systems incorporate summarized information from decision support systems and
management information systems, along with external factors to forecast and analyze
trends.
An example of an executive information system is a digital dashboard, which displays charts
and graphs showing up-to-the-moment performance indicators on sales, profit, expenses,
and inventory on an executive's computer.
information technology - correct answer-refers to the non-human, non-process components
of an information system (e.g., hardware including network devices, software applications
and data). Hardware, software, data, and networks make up information technology.
Information systems - correct answer-provide managerial and operational support to
businesses by collecting and processing data into useful information as well as providing for
storage, retrieval, and security of data and the information it's transformed into.
Information systems components - correct answer-People, processes, hardware, software,
networks, and data comprise the six major components of a computer-based information
system.
Information management - correct answer-is concerned with collecting, managing,
manipulating, organizing and reorganizing, and distributing information from a variety of
sources to a variety of audiences.
Information technology management - correct answer-is concerned with the management of
resources that facilitate access to information.
resources include computers and the technical infrastructures such as software, hardware,
networking, and data center technologies, and staff that support them, including the
technicians, analysts, project managers, and others.
strategic information system - correct answer-provide tools used by an organization to
accomplish specific tasks to gain competitive advantage.
Threat of New Entrants - correct answer-High when it is easy for new competitors to enter a
market and low when there are significant entry barriers
Threat of Substitute Products or Services - correct answer-High when there are many
alternatives to a product or service and low when there are few alternatives
, Bargaining Power of Customers (Buyers) - correct answer-Buyer power is high when buyers
have many choices from whom to buy and low when buyers have few choices.
Bargaining Power of Suppliers - correct answer-Suppliers can exert power by threatening to
raise prices or reduce the quality of purchased goods and services
Intensity of Competitive Rivalry - correct answer-When there are many competitors in an
industry, this threat is high.When there are many competitors, firms have to compete
aggressively for market shares, which can result in lower profits.
If a product is proprietary, belonging to a single organization, then this threat is low.
value chain - correct answer-is a set of inputs used by a strategic information system and put
into meaningful outputs to help a company gain a competitive advantage in the marketplace.
business ecosystem - correct answer-Loosely coupled but interdependent networks of
suppliers, distributors, outsourcing firms, transportation service firms, and technology
manufacturers.
that provide related products and services across many industries.
Virtual Company Model - correct answer-Networks of people and resources join together to
provide a service or create a product without the traditional storefront boundaries.
Two types of business strategies include - correct answer-product differentiation and growth.
Product differentiation strategy - correct answer-a marketing strategy that involves creating a
difference in consumers' minds between a particular product and competing products.
This strategy is built on a business identifying a core competency and basing their business
strategy around that core competency.
core competency - correct answer-a set of knowledge and skills that make the organization
superior to competitors and create value for customers
acquisition - correct answer-where one business purchases another.
Enterprise Resource Planning (ERP) internal use - correct answer-provide communication
between the various systems that are integral to a business, allowing standardization of
business procedures across all business units.
Customer Relationship Management (CRM) - correct answer-systems use technology to
merge marketing with business processes to strengthen customer relationships and
organize customer information.
Supply chain management (SCM) - correct answer-provides tools to help the business
manage supplier relationships, develop strategies to ensure quality products or services,
