FMGT 2701 - Management information systems 18E - Midterm 1,2,3,5 set

How did ConocoPhilips combat issues in their extreme climate business ventures

they used 3d printing to combat part shortages, and uses a host of data analytics & visualization, automation and AI/ML to improve operational performance.

How have management information systems changed business

through data analytics, and large scale data collections, business can track and respond to rapidly changing consumer demand.

How has MIS changed jobs

Business professionals are expected to know how to use IT and business dashboards, making technology a minimum requirement.

What business challenges does cloud computing pose

what are the costs and benefits of cloud computing, and how much can we move onto the cloud.

What business challenges does big data pose

does your firm have the ability to analyze big data

What business challenges does AI pose

where can your company use AI, where can you find expertise to implement it, cost?

What business challenges does the mobile platform pose

Is your firm optimizing mobile use-cases for employees and customers

What is globalization

the flow of goods, services, capital, people, and ideas across international boundaries

What has enabled globalization today

the advances in information technology, such as the internet, communication systems, etc.

What are ways globalization can benefit your company

increased profitability, lower costs, wider customer base

How can globalization hurt your business

Increased competition, and a more complex marketplace

What is a digital firm

a firm's significant relationships with customers, suppliers, and employees are digitally enabled and corporate access managed through digital means

What are business processes

set of logically related tasks and behaviours that organizations develop overtime to produce specific business results and the unique way these activities are organized and coordinated

What is digital transformation

refers to larger-scale change efforts to capture the benefits of digital technology

What is a business model

describes how a company produces, delivers, and sells a product or service to create wealth

How does Ritz-Carlton use MIS

they automatically store customers information in a cloud based CRM system to tailor the guests next stay to their history.

What is IT

consists of all the hardware and software that firm needs to use to achieve its business objectives

What is an IS

a set of interrelated components that collect, process, store, and distribute info.

What does an Input do in a IS

captures or collects raw data from within the organization or from its external environment

what does processing do in a IS

converts raw input into a meaningful form by classifying, arranging, and performing calculations on it

What does an Output do in a IS

transfers the processed information to the people who will use it or to the activities for which it will be used

What are the functions of an IS

they help regulatory agencies, stockholders, competitors, customers, and suppliers by making decisions and better understanding processes.

What is senior management

the top of the firm hierarchy, they make long term strategic decisions about products and services as well as ensures financial performance of the firm.

What is middle management

below senior management on the pyramid, they carry out programs and plans of senior management

What is operational management

the bottom of the manager hierarchy, they are responsible for monitoring the daily activities of the business

What are knowledge workers

engineers, scientists, architects, they design products or services, and create new knowledge for the firm, often working with middle management.

What are data workers

typically overseen by operational management, such as bookkeepers or clerks, they assist with administrative work at all levels of the firm.

What are production and service workers

workers who product the product and deliver the service.

what are some business functions

sales, marketing, manufacturing, finance, etc.

What is computer hardware

the physical equipment used for input, processing, and output activities in an information system.

What is computer software

the detailed pre-programmed instructions that control and coordinate the computer hardware competencies in an information system.

What is data management technology

the software governing the organization of data on storage media

What is networking and telecommunications technology

both physical devices and software, that links hardware and transfers data from one physical location to another

What is a network

links two or more computers together to share data, or resources.

What is the intranet

an internal corporate communication network that uses internet technology to link company departments, employees, and databases

What is the extranet

a private intranet extended to authorized user outside the firm

What is IT infrastructure

provides the foundation on which the firm can build its specific information systems

What is the internet of things

a world where interconnected, Internet-enabled devices or "things" can collect and share data without human intervention

what is cloud computing

the practice of using a network of remote servers hosted on the Internet to store, manage, and process data, rather than a local server or a personal computer.

what is artificial intelligence

the study of computer systems that attempt to model and apply the intelligence of the human mind

what is machine learning

a type of AI that is focused on building computer systems that can learn and improve on their own

What is generative AI

able to identify patterns in existing content to generate text, art, music, video, and software code

What is agentic AI

AI agents that act autonomously toward goals, with planning, memory, and tool integration

What are complementary assets

assets required to derive value from a primary investment

What are organizational assets

appropriate business model, efficient business processes, decentralized authority, distributed decision-making rights

What are managerial assets

incentives for management innovation, teamwork and collaborative work environments, training programs to enhance management decision skills

What are social assets

internet and telecommunications infrastructure, IT enriched educational programs raising labour force computer literacy, laws and regulations

What are the technical approaches of MIS

management science, computer science, operations research

what are the behavioural approaches of MIS

psychology, economics, sociology

What is the technical approach to MIS

emphasizes mathematically based models to study information systems, as well as the physical technology and formal capabilities of these systems

What is the behavioural approach to MIS

uses development and long-term maintenance to address issues of strategic business integration, design, implementation, utilization, and management

What is the sociotechnical view of systems

optimal organizational performance is achieved by optimizing both the social and technical systems used in production

What business process does manufacturing and production fulfill

assembly, quality assurance, material bills

What business process does sales and marketing fulfill

identifying customers, making customers aware of the product, selling the product

What business process does finance and accounting fulfill

paying creditors, creating financial statements, managing cash accounts

What business process does human resources fulfill

hiring employees, evaluating employees, enrolling employees in benefits plans

what are the steps in the order fulfillment process

sales: generate order > submit order, accounting: check credit > approve credit > generate invoice, manufacturing: assemble product > ship product

What is business intelligence

contemporary term for data and software tools for organizing, analyzing, and providing access to data to help managers and other enterprise users make more informed decisions

what is a decision-support system (DSS)

an information system that combines data and sophisticated, analytical models or data analysis tools to support decisions making

What is an example of who may use a DSS

managers who bid on shipping contracts

What is an executive support system (ESS)

it's used to address non-routine decisions requiring judgment, evaluation, and insight because there is no agreed-on procedure for arriving at a solution

What is a portal

a web interface to present integrated personalized business content from a variety of sources

What is SabreMosaic's dashboard an example of

a business interface dashboard which displays on a single screen graphs and charts of key performance indicators for a managing a company

What are enterprise applications

systems that can coordinate activities, decisions and knowledge across many different functions, levels, and business units in a firm

Why do firms use an enterprise system

they integrate business processes in manufacturing and production, finance and accounting, sales and marketing, and human resources into a single software system

What is a supply chain management system

It helps manage relationships with their suppliers, they help suppliers, purchasing firms, distributors, and logistics companies share logistics information

What is an interorganizaitonal system

a system that automates the flow of information across organizational boundaries and links a company to its customers, distributors, or suppliers

What is a customer relationship management system

this helps firms manage their relationships with their customers

What is a knowledge management system

This system supports the creation, capture, storage, and dissemination of firm expertise and knowledge

What is collaboration

working with others to achieve shared and explicit goals

What is a team

a group that has been assigned a specific mission by someone in the business

Why is collaboration and teamwork more important today than ever

changing nature of work, growth of professional work, changing organization of the firm, changing scope of the firm, emphasis on innovation, changing culture & location of work, increasing use of AI

What is social business

Use of social networking platforms to engage employees, customers, and suppliers

How do social networks help businesses

Connect businesses with customers, partners, and employees through professional and brand profiles, strengthening relationships and visibility

How does crowdsourcing help businesses

Leverages collective intelligence from users or employees to generate innovative ideas, solve problems, and improve products or services

How do shared workspaces help businesses

Enable teams to coordinate tasks, collaborate in real time, and efficiently co-create and manage content

How do blogs and wikis help businesses

Allow organizations to publish knowledge, share expertise, and support internal learning and external communication

How does social commerce help businesses

Influences purchasing decisions by enabling customers to share reviews, recommendations, and buying experiences on social platforms

How does file sharing help businesses

Facilitates easy distribution, collaboration, and feedback on digital documents and media across teams

How does social marketing help businesses

Helps organizations engage customers, build brand awareness, and gather insights to improve marketing strategies

How do communities help businesses

Provide forums for discussion, customer support, and knowledge sharing that strengthen loyalty and expertise

What are the requirements for collaboration

open culture, decentralized structure, breadth of collaboration, use of collaboration and social business for planning and operations.

What is telepresence

an integrated audio and visual environment that allows people to give the appearance of being present at a location other than their actual physical location

What is Human-AI collaboration

the interactions between humans and AI systems that combine their respective complementary strengths to achieve shared goals

What are virtual worlds

online, 3d environments populated by residents who have built graphical representations of themselves known as avatars

What are face-to-face interactions

Same-time, same-place collaboration where individuals work together in person using tools such as meeting rooms, shared tables, wall displays, and interactive software to support immediate discussion and decision-making

What is continuous task collaboration

Different-time, same-place collaboration where teams contribute to ongoing work using shared spaces and tools such as team rooms, project displays, project management systems, and AI tools

What are remote interactions

Same-time, different-place collaboration where participants communicate in real time from different locations using videoconferencing, instant messaging, shared screens, multi-user editors, and AI tools

What is communication and coordination

Different-time, different-place collaboration where individuals work asynchronously using tools such as email, bulletin boards, blogs, calendars, workflow systems, version control, wikis, and AI tools

What is knowledge management

refers to the set of business processes developed in an organization to create, store, transfer, and apply knowledge

What is structured knowledge

Explicit knowledge that exists in formal documents, as well as in formal rules.

What is tacit knowledge

knowledge that is in the minds of employees & is based on their experiences & backgrounds (shared only with the consent and participation of the individual)

What are enterprise-wide knowledge management systems

Integrated systems that help organizations collect, store, share, and use knowledge across the firm

What are knowledge work systems

Specialized systems that help knowledge workers create, analyze, and develop new knowledge

What are intelligent techniques

Advanced tools that identify patterns in data and support decision-making and problem-solving

What is an enterprise wide knowledge management systems

include general purpose firm-wide systems that collect, store, distribute, and apply digital content and knowledge

What is a knowledge work system

a specialized information system that aids knowledge workers in the discovery, creation, and integration of new knowledge into an organization

What is an enterprise content management system

helps collect and manage structured, semi-structured and unstructured types of information

What is a taxonomy

method of classifying things according to a predetermined system

What is a learning management system

provides tools for the management, delivery, tracking, and assessment of various types of employee learning and training