100% satisfaction guarantee Immediately available after payment Both online and in PDF No strings attached
logo-home
Previously searched by you
Previously searched by you
logo
OMIS 350 Exam 1 Question and answers verified to pass $13.99   Add to cart
Quickly navigate to
Preview
  2.  
  3. OMIS
  4.  
  5. OMIS

Exam (elaborations)

OMIS 350 Exam 1 Question and answers verified to pass
 4 views  0 purchase
  • Course
  • OMIS
  • Institution
  • OMIS

OMIS 350 Exam 1 Question and answers verified to pass 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 profitabil...

[Show more]

Preview 2 out of 11  pages

Document information

  • November 5, 2024
  • 11
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

Subjects

Written for

  • OMIS
  • OMIS

Seller

avatar-seller
Academia199

Reviews received

Content preview

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

The benefits of buying summaries with Stuvia:

Guaranteed quality through customer reviews

Guaranteed quality through customer reviews

Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.

Quick and easy check-out

Quick and easy check-out

You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.

Focus on what matters

Focus on what matters

Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!

Frequently asked questions

What do I get when I buy this document?

You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.

Satisfaction guarantee: how does it work?

Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.

Who am I buying these notes from?

Stuvia is a marketplace, so you are not buying this document from us, but from seller Academia199. Stuvia facilitates payment to the seller.

Will I be stuck with a subscription?

No, you only buy these notes for $13.99. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews)

72042 documents were sold in the last 30 days

Founded in 2010, the go-to place to buy study notes for 14 years now

Start selling
$13.99
  • (0)
  Add to cart