MIS 200 CORRECT EXAMS ANSWERS AND
QUESTIONS SET A+
✔✔Ability to experiment - ✔✔create and test promising new alternatives, consistent with
available resources
✔✔Experimentation - ✔✔Careful and reasoned analysis of an opportunity, envisioning
potential products or solutions or applications of technology then developing those ideas
that seem to have the most promise consistent with the resources you have
✔✔Technology Skills Gap: - ✔✔the mismatch between the high level of tech skills
demanded by employers and the low level of tech skills held by employees
✔✔Management Information Systems (MIS) - ✔✔the management and use of
information systems that help organizations achieve their strategies
✔✔Information System (IS) - ✔✔Assembly of hardware, software data procedures, and
people that produce information
✔✔Information Technology (IT) - ✔✔Refers to the products, methods, inventions,
standards used for the purpose of producing information
✔✔System - ✔✔Group of components that interact to achieve some purpose
✔✔Five-Component Framework - ✔✔hardware, software, data, procedures, people
✔✔Data Characteristics - ✔✔accurate, timely, relevant, just sufficient, worth its cost
✔✔Digital Divide - ✔✔Result of internet and IT, information rich/poor
✔✔Information Literacy - ✔✔understanding role of information in generating historical,
current, and predictive views of business operations and environments
, ✔✔Computer Literacy - ✔✔Basic knowledge of hardware, software, internet and
collaboration tools
✔✔Competitive Strategy - ✔✔Determines an organization's goals an objectives
✔✔Five Forces Model - ✔✔Michael Porter Proposed a model that assesses industry
characteristics and profitability by means of five competitive forces bargaining power of
suppliers, threat of substitution, bargaining power of customers, rivalry among firms,
threat of new entrants (there are strong forces vs weak forces)
✔✔Four Competitive Strategies include - ✔✔Differentiation, cost, industry-wide, focus
✔✔Value - ✔✔amount of money that a customer is willing to pay for a resource, product
or service
✔✔Margin - ✔✔The difference between the value that an activity generates and the
cost of the activity
✔✔Value Chain - ✔✔Network of value creating activities (how something is made)
✔✔Primary Activities - ✔✔Porter's Value Chain Model contribute directly to the
production sale or service of a product there are 5, inbound logistics, operations and
manufacturing, outbound logistics, sales and marketing, customer service
✔✔Support Activities - ✔✔Contribute indirectly to value: procurement, technology,
human resources, firm's infrastructure
✔✔Inbound Logistics - ✔✔receiving, storing, and disseminating inputs to the products
✔✔Operations/Manufacturing - ✔✔Transforming inputs into the final products
✔✔Outbound Logistics - ✔✔Collecting, Storing, and physically distributing the products
to buyers
✔✔Sales and Marketing - ✔✔inducing buyers to purchase the products and providing a
means for them to do so
✔✔Customer Service - ✔✔assisting customer's use of the products and thus
maintaining and enhancing the products value
✔✔Linkages - ✔✔Interactions across value activities
✔✔Business Process - ✔✔generate value by transforming inputs into outputs
QUESTIONS SET A+
✔✔Ability to experiment - ✔✔create and test promising new alternatives, consistent with
available resources
✔✔Experimentation - ✔✔Careful and reasoned analysis of an opportunity, envisioning
potential products or solutions or applications of technology then developing those ideas
that seem to have the most promise consistent with the resources you have
✔✔Technology Skills Gap: - ✔✔the mismatch between the high level of tech skills
demanded by employers and the low level of tech skills held by employees
✔✔Management Information Systems (MIS) - ✔✔the management and use of
information systems that help organizations achieve their strategies
✔✔Information System (IS) - ✔✔Assembly of hardware, software data procedures, and
people that produce information
✔✔Information Technology (IT) - ✔✔Refers to the products, methods, inventions,
standards used for the purpose of producing information
✔✔System - ✔✔Group of components that interact to achieve some purpose
✔✔Five-Component Framework - ✔✔hardware, software, data, procedures, people
✔✔Data Characteristics - ✔✔accurate, timely, relevant, just sufficient, worth its cost
✔✔Digital Divide - ✔✔Result of internet and IT, information rich/poor
✔✔Information Literacy - ✔✔understanding role of information in generating historical,
current, and predictive views of business operations and environments
, ✔✔Computer Literacy - ✔✔Basic knowledge of hardware, software, internet and
collaboration tools
✔✔Competitive Strategy - ✔✔Determines an organization's goals an objectives
✔✔Five Forces Model - ✔✔Michael Porter Proposed a model that assesses industry
characteristics and profitability by means of five competitive forces bargaining power of
suppliers, threat of substitution, bargaining power of customers, rivalry among firms,
threat of new entrants (there are strong forces vs weak forces)
✔✔Four Competitive Strategies include - ✔✔Differentiation, cost, industry-wide, focus
✔✔Value - ✔✔amount of money that a customer is willing to pay for a resource, product
or service
✔✔Margin - ✔✔The difference between the value that an activity generates and the
cost of the activity
✔✔Value Chain - ✔✔Network of value creating activities (how something is made)
✔✔Primary Activities - ✔✔Porter's Value Chain Model contribute directly to the
production sale or service of a product there are 5, inbound logistics, operations and
manufacturing, outbound logistics, sales and marketing, customer service
✔✔Support Activities - ✔✔Contribute indirectly to value: procurement, technology,
human resources, firm's infrastructure
✔✔Inbound Logistics - ✔✔receiving, storing, and disseminating inputs to the products
✔✔Operations/Manufacturing - ✔✔Transforming inputs into the final products
✔✔Outbound Logistics - ✔✔Collecting, Storing, and physically distributing the products
to buyers
✔✔Sales and Marketing - ✔✔inducing buyers to purchase the products and providing a
means for them to do so
✔✔Customer Service - ✔✔assisting customer's use of the products and thus
maintaining and enhancing the products value
✔✔Linkages - ✔✔Interactions across value activities
✔✔Business Process - ✔✔generate value by transforming inputs into outputs
