Management Info Systems quiz #1

Information Systems

Organized integration of hardware and software technologies, data, processes, and human elements designed to produce timely, integrated, relevant, accurate, and useful information for decision-making.

Computer Literacy

A skill in using productivity software such as word processors, spreadsheets, and database management.

Information Literacy

Understanding the role of information in generating and using business intelligence, including historical, current, and predictive views of business operations and environments.

Transaction-Processing Systems (TPSs)

Focus on data collection and processing, used for cost reduction and applied to structured tasks, requiring minimal human involvement when automated.

Management Information System (MIS)

An organized integration of hardware and software technologies, data, processes, and human elements designed for decision-making.

Major Components of an Information System

Includes data, database, process, and information.

Five Forces Model

A framework for analyzing the competitive forces within an industry, consisting of buyer power, supplier power, threat of substitutes, threat of new entrants, and rivalry among existing competitors.

Strategic Information Systems

Information systems that assist in implementing strategies and align with long-term goals and objectives.

Competitive Advantage

The ability of a business to outperform its competitors by utilizing resources, capabilities, and strategies effectively.

Database Management System (DBMS)

A system for managing databases, including functions like storage, modification, and extraction of data.

Personnel Information System (PIS)

Provides information necessary for personnel to perform tasks effectively within an organization.

Logistics Information System (LIS)

An information system that helps in improving the efficiency of transporting materials and maintaining reliable delivery.

Manufacturing Information System (MFIS)

Helps manage manufacturing resources and improve inventory and cost decisions.

Financial Information System (FIS)

Provides financial executives with information necessary for decision-making, including budget allocation and monitoring costs.

Marketing Information System (MKIS)

Improves marketing decisions by providing integrated information about the marketing mix, including pricing, promotion, place, and product.

Overall cost leadership strategy

Bottom-line strategy- improve efficiency by reducing costs

top-line- generate new revenue by offering new products and services

3 strategies for successfully competing in the marketplace

overall cost leadership

differentiation

focus

Differentiation strategy

make products and services different from competitors

Focus strategy

concentrating on a specific market segment

Porter’s 5 forces model

Buyer power

Supplier power

Threat of substitute products or services

Threat of new entrants

Rivalry among existing competitors

Chief technology officer

oversees long range planning and monitors new developments that can affect a company’s success

Manager of information systems services

responsible for managing all the hardware, software, and personnel within the information systems department

System analysts

responsible for the design and implementation of information systems

Network administrator

oversee, design, and implement internal and external network systems that deliver correct information

Data administrator

responsible for database design and implementation

Computer programmer

writes programs or software segments that allow the information system to perform a specific task

Webmaster

designs and maintains the organization’s web site

Computer literacy is understanding the role of information technology in generating and using business intelligence. True or false?

False- information literacy does

True or false. Strategic information systems focuses on the big picture, long-term goals

True

All of the following are among the future outlook of information systems except:

Hardware and software costs will continue to decline

The computer literacy of typical information systems users will improve

Hackers will become more sophisticated

All of the above

All of the above

Information technologies are used to gain a competitive advantage by doing all the following except:

Replacing all key decision makers in an organization

All of the following are among the new IT related jobs except:

Social media/ online community manager