Management Information Systems Overview

These flashcards cover key concepts related to Management Information Systems, Elon Musk's compensation package, monetary comparisons, job outlook in MIS, and current challenges in the field.

What was approved last week regarding Elon Musk's compensation package?

The Tesla board approved a compensation package involving Tesla stock over the next 10 years with 12 tranches.

What is the projected future valuation of Tesla associated with Musk's compensation?

$8.5 Trillion.

What are the conditions for Elon Musk's compensation package?

Production of 20 million electric vehicles, deployment of 1 million humanoid robots, 1 million robotaxis, and full self-driving subscriptions.

How tall is $1 billion in $100 bills?

It would be 350 feet tall.

How long would it take to accumulate $1 million at a rate of $1 per second?

11.5 days.

How long would it take to accumulate $1 billion at a rate of $1 per second?

31.7 years.

What would be the time to accumulate $1 trillion at a rate of $1 per second?

31,700 years.

If you placed dollar bills end to end, how many times would they go around the earth?

3,892 times.

How far would dollar bills travel if dropped out of a jet going 500 mph to accumulate $1 trillion?

It would have to travel 96.9 million miles.

What is the projected job growth rate for MIS careers from 2023 to 2033?

17% growth.

What is the average starting salary for a career in Management Information Systems?

$63,500.

What roles are projected to grow faster than average in the MIS field?

Business Analyst, IT Project Manager, Systems Analyst, Database Manager, Cybersecurity Analyst.

What are the core responsibilities of MIS professionals?

Organizing and interpreting business data, coordinating between IT teams and business departments, implementing software solutions, and managing data flow.

What kind of student thrives in the MIS field?

A student who likes solving problems with tech, is curious about how things work, and enjoys improving systems.

What is the definition of Management Information Systems (MIS)?

Using technology and information systems to help businesses run better.

What are key components of an MIS?

People, Processes, Technology, and Data.

What tools are examples of MIS systems?

ERP (Enterprise Resource Planning), CRM (Customer Relationship Management), BI (Business Intelligence), and Decision Support Systems.

What are major current challenges in Management Information Systems?

Cybersecurity threats, data overload, integrating new technologies, and user adoption.

What is the financial impact of data breaches as mentioned in the lecture?

In 2025, the average cost of a data breach was over $4.4 million.

What was the result of the unauthorized access/data breach at AT&T?

Personal info of ~109 million customer accounts exposed, resulting in a settlement of US$177 million.