Information Systems Overview

This set of flashcards covers essential concepts related to Information Systems, their components, and functionalities as described in the lecture notes.

What is an Information System (IS)?

A set of interconnected components that collect, process, store, and distribute data and information to support decision-making and control in an organization.

What is a Decision Support System (DSS)?

A system designed to support non-routine decision-making for middle management.

What characteristic of valuable information ensures it is available when needed?

Timeliness.

What does the term 'Accuracy' of information refer to?

It means that the data is free from errors and bias.

What are the components that represent the hardware of an Information System?

Not hardware; hardware refers to the physical components, while software refers to the programs and instructions.

What does the term 'Networking' refer to in an Information System?

The Internet and Intranets are examples of the Networking component in an Information System.

What is a Database Management System (DBMS)?

A type of application software used to manage data efficiently.

What are Organizational Procedures within an Information System?

They are a non-technical component of an Information System.

What is the purpose of System Analysis and Design?

It is the process of planning and building an Information System.

What role does MIS play in an organization?

It helps managers monitor and control the business by providing periodic and exception reports.

What type of decision-making do Executive Support Systems (ESS) primarily address?

They are designed to address the tactical decision-making of operational managers.

What is a Knowledge Management System (KMS)?

A system used to help an organization capture and apply its employees' knowledge and expertise.

What is a key challenge of implementing Information Systems?

Balancing the high cost of implementation with the potential benefits.

What does 'Feedback' in a system refer to?

It is a critical component that helps determine whether the system is meeting its goals.

Why must a System have clearly defined boundaries?

To separate it from its environment.

What is the purpose of a Marketing Information System (MkIS)?

To support activities related to the firm's portfolio and financial transactions.

What is the focus of Supply Chain Management (SCM) Systems?

They primarily focus on managing the production and distribution of goods, not customer interaction.

What does the 'Controlling' function of management involve?

Setting goals and determining courses of action.

What is considered an organizational resource similar to capital and labor?

Information.

What is a Computer-Based Information System (CBIS)?

One where computers play a major role in processing and distributing information.

What must System Components do?

They must be interrelated and work together to achieve a common goal.

What is a key disadvantage of an MIS?

It can sometimes only be used by a single department within an organization.

What does 'Completeness' quality of information mean?

It means that information contains all the necessary facts.

What do ERP systems integrate?

They integrate the firm's financial, human resource, manufacturing, and other data into a single system.

What can be a consequence of poorly designed or managed Information Systems?

Information Overload.

What does Information Literacy refer to?

The ability to understand and evaluate information from various sources.

What is the focus of a Financial Information System (FIS)?

Managing the flow of money into, through, and out of the organization.

What does an HRIS primarily deal with?

It deals with various human resource functions, not just payroll processing.

What type of information does a Transaction Processing System (TPS) monitor?

Elementary activities and transactions of the organization.

What is the main goal of a TPS?

To process and record routine business transactions efficiently.

What is the typical focus of MIS reports?

Summarizing and reporting on organizational performance.

What is the primary intent of a Decision Support System (DSS)?

To support decision-making that is semi-structured or unstructured and non-routine.

What system integrates all aspects of a business including planning and sales?

ERP (Enterprise Resource Planning) System.

What systems support the creation and dissemination of organizational knowledge?

Knowledge Work Systems (KWS).

What are the five major components of an Information System (IS)?

People, procedures, data, software, and networks.

Which component of MIS is responsible for data processing?

Software.

What is the difference between data and information?

Data refers to raw facts and figures, while information is processed and organized to be meaningful.

What directs the hardware to process data in a computer system?

Software.

Who are the people involved in an MIS?

End-users and IS specialists (e.g., programmers, analysts).

What ensures information is available when needed for decision-making?

Timeliness.

What step in the information processing cycle involves converting raw data into meaningful output?

Processing.

What is a collection of related data or facts stored in an organized way called?

A Database.

What is the primary use of information in an MIS?

To provide managers with information and reports for decision-making.

What type of information do Tactical managers rely on?

Summary reports and exception reports for monitoring and controlling.

What characterizes information used for Strategic Planning?

It is often external, summarized, and future-oriented.

What level of information is typically detailed, real-time, and internal?

Information used at the Operational Level.

What does the control loop in a system do?

It involves comparing actual performance with established standards (or goals).

What is a Customer Relationship Management (CRM) System used for?

To help an organization target, acquire, retain, and serve customers.

Define a computer system.

A complete, working collection of hardware and software designed to process information, accept input, store data, and produce output.

What are the differences between hardware and software?

Hardware refers to the physical parts of the computer, while software refers to the intangible instructions that direct the hardware.

Why are hardware and software essential together?

Neither can function fully without the other; software directs hardware, and hardware provides the environment for software.

What is a GPU?

A specialized processor designed for quickly manipulating memory to accelerate graphics creation.