MIS 304 Exam 1 (A+ Graded)

Which of the following is true? correct answers A. The key component of Information Systems is naturally "information" B. Information systems have exactly 3 components: data, hardware, software C. Information systems have exactly 2 components: technology and organizations D. Information systems have exactly 3 components: information, software, MIS professionals E. Data is a component of information systems answer E A grocery store checkout cash register with a connection to a network is an example of correct answers transaction processing system big data is usually associated with correct answers large data volumes and data variety what is true about operation in the digital world correct answers access to a larger pool of skilled workers is an opportunity which of the following is true about customer privacy correct answers a vendor is not required by law to respect your privacy which of the following is true about data information correct answers A. Data and information are identical B. Data is processed information C. When data is understood and used for decisions it is called information D. When information is understood and used for decisions it is called data E. None of the above answer E systems allow companies to integrate different business areas in a single system correct answers transaction processing what is an information system correct answers people + information technology organized to create, collect, process, store and distribute useful data how can organizations benefit from IS correct answers use of barcodes, UAcccess for schedule Firms analyze the value chain to highlight opportunities where IS can make an organization more effective and efficient. Activities in the value chain include: correct answers Sales and marketing Porter's competitive forces framework includes which of the following sources of competition correct answers -rivalry among existing firms in the industry -existence of substitute products/services (from other industries) that customers can switch to -bargaining power buyers have in an industry -threat of potential new entrants into an industry