BUS 303 SAYLOR EXAM 150 QUESTIONS AND CORRECT ANSWERS GRADED A+
Information System - answer-An integrated and cooperating set of software directed information
technologies
supporting individual, group, organizational, or societal goals.
SWOT - answer-An organization's strengths, weaknesses, opportunities, and threats. Used to evaluate
their business strategy.
Effectiveness - answer-"Doing the right thing" A more effective firm can make better decisions and carry
them out more successfully.
Efficiency - answer-"Doing things right". Less input effort but same output, or same amount of input
effort producing more output.
Fifth Wave - answer-The current state in time where computers are so fast and so inexpensive that they
have become ubiquitous—woven into products in ways few imagined years before.
Information Technology - answer-Hardware, software and telecommunication equipment that is used to
capture, process, store
and distribute information.
Moore's Law - answer-Means that next generation chips should be twice as fast in eighteen months, but
cost the same as today's models .
Porter's Five Forces - answer-Supplier Power
Buyer Power
Threat of Substitution
Threat of New Entry
affect your Competitive Rivalvry
Also known as Industry and Competitive Analysis.
,Regulatory Compliance - answer-An organization's adherence to laws, regulations, guidelines and
specifications relevant to its business.
Return on Investment - answer-Measures the amount of return on an investment, relative to the
investment's cost.
(Gain from Investment - Cost of Investment) / Cost of Investment
Data Standardization - answer-The critical process of bringing data into a common format that allows for
collaborative research, large-scale analytics, and sharing of sophisticated tools and methodologies.
Sustained Competitive Advantage - answer-A long-term competitive advantage that is not easily
duplicable or surpassable by the competitors.
Business Process - answer-A series of tasks that are repeated in order to produce a measurable output.
Strategic management - answer-is concerned with creating the general framework in which the business
process are executed.
Operational management - answer-creates the workflow for formalizing and automating business
processes and applying information systems, as appropriate, to support process execution.
Administrative management - answer-, typically the role of the IS unit, is responsible for developing the
organizational and information systems infrastructure to support business processes.
Data mart / warehouse - answer-Repositories for large amounts of transactional data awaiting analytics
and reporting.
ePK - answer-event controlled chain of process diagrams
, Business process management - answer-This integrates an organization to make individual processes
more efficient and can be used to fix one problem or create a unifying system to consolidate problems.
Data mining - answer-The process of analyzing data warehouses for information that can be used in
management decision making.
Notable applications:
Voice recognition
Classification of DNA sequences
Natural Language processing
Enterprise Resource Planning - answer-The true value with this system is integration between the
different systems and different aspects of a company, with integration between selling, sourcing,
producing, delivering, and invoicing.
Business process reengineering - answer-The complete and radical redesign of a business process, which
is difficult because of resistance to change, the expense, and the high probability of failure with the
implementation of an entirely new system.
OLAP - answer-Leverages data cubes, which take data from standard relational databases, calculating
and summarizing data for super-fast reporting access.
What factors limit business intelligence initiatives? - answer-Firms that mismanage their customer data
assets risk lawsuits, brand damage, lower sales, fleeing customers, and can prompt more restrictive
legislation.
Strategic Information Systems Planning (SISPM) - answer-seeks to integrate and to align strategic
objectives with an existing IS plan or business need.
Business Process Re-engineering (BPRM) - answer-is used to maximize corporate profitability by
redesigning and transforming the organization's business processes.
Information System - answer-An integrated and cooperating set of software directed information
technologies
supporting individual, group, organizational, or societal goals.
SWOT - answer-An organization's strengths, weaknesses, opportunities, and threats. Used to evaluate
their business strategy.
Effectiveness - answer-"Doing the right thing" A more effective firm can make better decisions and carry
them out more successfully.
Efficiency - answer-"Doing things right". Less input effort but same output, or same amount of input
effort producing more output.
Fifth Wave - answer-The current state in time where computers are so fast and so inexpensive that they
have become ubiquitous—woven into products in ways few imagined years before.
Information Technology - answer-Hardware, software and telecommunication equipment that is used to
capture, process, store
and distribute information.
Moore's Law - answer-Means that next generation chips should be twice as fast in eighteen months, but
cost the same as today's models .
Porter's Five Forces - answer-Supplier Power
Buyer Power
Threat of Substitution
Threat of New Entry
affect your Competitive Rivalvry
Also known as Industry and Competitive Analysis.
,Regulatory Compliance - answer-An organization's adherence to laws, regulations, guidelines and
specifications relevant to its business.
Return on Investment - answer-Measures the amount of return on an investment, relative to the
investment's cost.
(Gain from Investment - Cost of Investment) / Cost of Investment
Data Standardization - answer-The critical process of bringing data into a common format that allows for
collaborative research, large-scale analytics, and sharing of sophisticated tools and methodologies.
Sustained Competitive Advantage - answer-A long-term competitive advantage that is not easily
duplicable or surpassable by the competitors.
Business Process - answer-A series of tasks that are repeated in order to produce a measurable output.
Strategic management - answer-is concerned with creating the general framework in which the business
process are executed.
Operational management - answer-creates the workflow for formalizing and automating business
processes and applying information systems, as appropriate, to support process execution.
Administrative management - answer-, typically the role of the IS unit, is responsible for developing the
organizational and information systems infrastructure to support business processes.
Data mart / warehouse - answer-Repositories for large amounts of transactional data awaiting analytics
and reporting.
ePK - answer-event controlled chain of process diagrams
, Business process management - answer-This integrates an organization to make individual processes
more efficient and can be used to fix one problem or create a unifying system to consolidate problems.
Data mining - answer-The process of analyzing data warehouses for information that can be used in
management decision making.
Notable applications:
Voice recognition
Classification of DNA sequences
Natural Language processing
Enterprise Resource Planning - answer-The true value with this system is integration between the
different systems and different aspects of a company, with integration between selling, sourcing,
producing, delivering, and invoicing.
Business process reengineering - answer-The complete and radical redesign of a business process, which
is difficult because of resistance to change, the expense, and the high probability of failure with the
implementation of an entirely new system.
OLAP - answer-Leverages data cubes, which take data from standard relational databases, calculating
and summarizing data for super-fast reporting access.
What factors limit business intelligence initiatives? - answer-Firms that mismanage their customer data
assets risk lawsuits, brand damage, lower sales, fleeing customers, and can prompt more restrictive
legislation.
Strategic Information Systems Planning (SISPM) - answer-seeks to integrate and to align strategic
objectives with an existing IS plan or business need.
Business Process Re-engineering (BPRM) - answer-is used to maximize corporate profitability by
redesigning and transforming the organization's business processes.
