OMIS 350 Exam 1
CHAPTER 1 - correct answer ✔
The 6 Important Business Objectives of information technology (IT): - correct
answer ✔
1. Operational excellence: - correct answer ✔-Improvement of efficiency to
attain higher profitability
-Information systems, technology an important tool in achieving greater
efficiency and productivity
-Walmart's Retail Link system links suppliers to stores for superior
replenishment system
2. New products, services, and business models: - correct answer ✔-
Business model: describes how company produces, delivers, and sells
product or service to create wealth
-Information systems and technology a major enabling tool for new products,
services, business models
Examples: Apple's iPad, Google's Android OS, and Netflix
3. Customer and supplier intimacy: - correct answer ✔-Serving customers
well leads to customers returning, which raises revenues and profits.
-Example: High-end hotels that use computers to track customer preferences
and used to monitor and customize environment
-Intimacy with suppliers allows them to provide vital inputs, which lowers
costs.
-Example: JCPenney's information system which links sales records to
contract manufacturer
, 4. Improved decision making: - correct answer ✔-Without accurate
information:
Managers must use forecasts, best guesses, luck
Results in:
Overproduction, underproduction
Misallocation of resources
Poor response times
Poor outcomes raise costs, lose customers
-Example: Verizon's Web-based digital dashboard to provide managers with
real-time data on customer complaints, network performance, line outages,
and so on
5. Competitive advantage: - correct answer ✔-Delivering better performance
-Charging less for superior products
-Responding to customers and suppliers in real time
-Examples: Apple, Walmart, UPS
6. Survival: - correct answer ✔-Information technologies as necessity of
business
-Industry-level changes
Example: Citibank's introduction of ATMs
-Governmental regulations requiring record-keeping
-Examples: Toxic Substances Control Act, Sarbanes-Oxley Act , Dodd-Frank
Act
Information system: - correct answer ✔-Set of interrelated components
-Collect, process, store, and distribute information
CHAPTER 1 - correct answer ✔
The 6 Important Business Objectives of information technology (IT): - correct
answer ✔
1. Operational excellence: - correct answer ✔-Improvement of efficiency to
attain higher profitability
-Information systems, technology an important tool in achieving greater
efficiency and productivity
-Walmart's Retail Link system links suppliers to stores for superior
replenishment system
2. New products, services, and business models: - correct answer ✔-
Business model: describes how company produces, delivers, and sells
product or service to create wealth
-Information systems and technology a major enabling tool for new products,
services, business models
Examples: Apple's iPad, Google's Android OS, and Netflix
3. Customer and supplier intimacy: - correct answer ✔-Serving customers
well leads to customers returning, which raises revenues and profits.
-Example: High-end hotels that use computers to track customer preferences
and used to monitor and customize environment
-Intimacy with suppliers allows them to provide vital inputs, which lowers
costs.
-Example: JCPenney's information system which links sales records to
contract manufacturer
, 4. Improved decision making: - correct answer ✔-Without accurate
information:
Managers must use forecasts, best guesses, luck
Results in:
Overproduction, underproduction
Misallocation of resources
Poor response times
Poor outcomes raise costs, lose customers
-Example: Verizon's Web-based digital dashboard to provide managers with
real-time data on customer complaints, network performance, line outages,
and so on
5. Competitive advantage: - correct answer ✔-Delivering better performance
-Charging less for superior products
-Responding to customers and suppliers in real time
-Examples: Apple, Walmart, UPS
6. Survival: - correct answer ✔-Information technologies as necessity of
business
-Industry-level changes
Example: Citibank's introduction of ATMs
-Governmental regulations requiring record-keeping
-Examples: Toxic Substances Control Act, Sarbanes-Oxley Act , Dodd-Frank
Act
Information system: - correct answer ✔-Set of interrelated components
-Collect, process, store, and distribute information
