MGMT 303 EXAM 1 Hollier questions with
complete solutions
MIS (Management Information Systems) - VERIFIED ANSWER✔✔-planning for, development,
management, and use of information technology to help people perform all tasks related to
information processing and management
3 resources of MIS - VERIFIED ANSWER✔✔-People, Information, Technology
the synergy - VERIFIED ANSWER✔✔-use information based technology tools to
1- do things cheaper and faster
2- increase revenue
3-innovative new process
Data - VERIFIED ANSWER✔✔-raw facts that describe the characteristics of an event or object
Big Data - VERIFIED ANSWER✔✔-a collection of large, complex data sets, including structured and
unstructured data, which cannot be analyzed using traditional database methods and tools
knowledge - VERIFIED ANSWER✔✔-Skills, experience, and expertise coupled with information and
intelligence that creates a person's intellectual resources
Core drivers of the information age - VERIFIED ANSWER✔✔-1. Data
2. Information
3. Business Intelligence
4. Knowledge
four characteristics of big data - VERIFIED ANSWER✔✔--Variety: Different forms of structured and
unstructured data
, -Veracity: The uncertainty of data, including biases, noise, and abnormalities
-Volume: The scale of data
-Velocity: The analysis of streaming data as it travels around the Internet
Functions of MIS - VERIFIED ANSWER✔✔-1. Collect
2. process
3. present
high-profile strategic initiatives - VERIFIED ANSWER✔✔-Business process reengineering (BPR)
Supply chain management (SCM)
Customer relationship management (CRM)
Enterprise resource planning (ERP)
Business Process - VERIFIED ANSWER✔✔-a standardized set of activities that accomplish a specific
task, such as processing a customer's order
Business Process Reengineering (BPR) - VERIFIED ANSWER✔✔-the analysis and redesign of workflow
within and between enterprises
Supply Chain Management (SCM) - VERIFIED ANSWER✔✔-The management of information flows
between and among activities in a supply chain to maximize total supply chain effectiveness and
profitability
Customer Relationship Management (CRM) - VERIFIED ANSWER✔✔-managing all aspects of a
customer's relationship with an organization to increase customer loyalty and retention and an
organization's profitability
Enterprise Resource Planning (ERP) - VERIFIED ANSWER✔✔-integrates all departments and functions
throughout an organization into a single IT system so that employees can make decisions by viewing
enterprise-wide information on all business operations
complete solutions
MIS (Management Information Systems) - VERIFIED ANSWER✔✔-planning for, development,
management, and use of information technology to help people perform all tasks related to
information processing and management
3 resources of MIS - VERIFIED ANSWER✔✔-People, Information, Technology
the synergy - VERIFIED ANSWER✔✔-use information based technology tools to
1- do things cheaper and faster
2- increase revenue
3-innovative new process
Data - VERIFIED ANSWER✔✔-raw facts that describe the characteristics of an event or object
Big Data - VERIFIED ANSWER✔✔-a collection of large, complex data sets, including structured and
unstructured data, which cannot be analyzed using traditional database methods and tools
knowledge - VERIFIED ANSWER✔✔-Skills, experience, and expertise coupled with information and
intelligence that creates a person's intellectual resources
Core drivers of the information age - VERIFIED ANSWER✔✔-1. Data
2. Information
3. Business Intelligence
4. Knowledge
four characteristics of big data - VERIFIED ANSWER✔✔--Variety: Different forms of structured and
unstructured data
, -Veracity: The uncertainty of data, including biases, noise, and abnormalities
-Volume: The scale of data
-Velocity: The analysis of streaming data as it travels around the Internet
Functions of MIS - VERIFIED ANSWER✔✔-1. Collect
2. process
3. present
high-profile strategic initiatives - VERIFIED ANSWER✔✔-Business process reengineering (BPR)
Supply chain management (SCM)
Customer relationship management (CRM)
Enterprise resource planning (ERP)
Business Process - VERIFIED ANSWER✔✔-a standardized set of activities that accomplish a specific
task, such as processing a customer's order
Business Process Reengineering (BPR) - VERIFIED ANSWER✔✔-the analysis and redesign of workflow
within and between enterprises
Supply Chain Management (SCM) - VERIFIED ANSWER✔✔-The management of information flows
between and among activities in a supply chain to maximize total supply chain effectiveness and
profitability
Customer Relationship Management (CRM) - VERIFIED ANSWER✔✔-managing all aspects of a
customer's relationship with an organization to increase customer loyalty and retention and an
organization's profitability
Enterprise Resource Planning (ERP) - VERIFIED ANSWER✔✔-integrates all departments and functions
throughout an organization into a single IT system so that employees can make decisions by viewing
enterprise-wide information on all business operations
