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ISA 235 Final Question and answers already passed

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ISA 235 Final Question and answers already passed ISA 235 Final Information age - correct answer The information age is the present time, during which infinite quantities of fact are widely available to anyone who can use a computer. Drivers of the Information Age - correct answer o Da...

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  • November 8, 2024
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  • 2024/2025
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  • isa 235 final question and answers already passed

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ISA 235 Final
Information age - correct answer ✔The information age is the present time,
during which infinite quantities of fact are widely available to anyone who can
use a computer.


Drivers of the Information Age - correct answer ✔o Data: raw facts that
describe the characteristics of a event or object
o Information: data converted into a meaningful and useful context
o Business intelligence: information collected from multiple sources such as
suppliers, customers, competitors, partners, and industries that analyzes
patters, trends, and relationships for strategic decision making
o Knowledge: skills, experience, and expertise couple with information and
intelligence that creates a person' intellectual resources (knowledge worker-
individual valued for their ability to interpret and analyze information)


Systems Thinking - correct answer ✔Process for understanding how
seemingly independent units within a larger entity interact with and influence
one another. (system>sum of parts)


Management Information Systems (MIS) - correct answer ✔the management
and use of information systems that help organizations achieve their
strategies. Facilitate communication and collaboration among departments
within a business. They act as the backbone for gathering, processing, and
disseminating information across various levels of the organization


SWOT analysis - correct answer ✔a planning tool used to analyze an
organization's strengths, weaknesses, opportunities, and threats


Five Forces Model - correct answer ✔Helps understand the five competitive
forces that determine the level of competition and profitability in an industry.

,The model encourages organizations to look beyond direct competitors and
instead consider broader environmental forces.
§ Competitive rivalry
§ Supplier power
§ Buyer power
§ Threat of substitution
§ Threat of new entry


Three Generic Strategies - correct answer ✔chooses business focus. o Help
the company set the direction of their strategy regarding the overall
industry/market.
o Chooses business focus.
§ Cost leadership
§ Differentiation
§ Focus


Value Chain Analysis - correct answer ✔a systematic way of examining all of
the activities a firm performs and determining how they interact to form a
source of competitive advantage.
· views a firm as a series of business processes that each has value to the
product or service.
o Helps companies understand what parts of their value chain will be
impacted by executing their strategy
o Executes business strategy


Different types of business strategies: - correct answer ✔o Evaluate- five
force models(industry), SWOT(company)
o Set- 3 generic strategies (narrow /bord, price/quality) a model that helps set
direction of strategy

, o Execute-value chain analysis (build processes to complete strategies and
always analysis)


Competitive Advantage - correct answer ✔an advantage over competitors
gained by offering greater customer value, either by having lower prices or
providing more benefits that justify higher prices. The competitive advantage
sequence starts with either a problem or opportunity. Then the company
makes a major move and whether or not the customer acceptance the
change. Once they accept other competitors try to catch up and then it
becomes a standard for the market.


Explain the statement Supply Chains are interlinked Value Chains which are
sets of Business Process - correct answer ✔Supply chains are made up of
multiple companies working together in order to develop and deliver products
or economic value to a customer. Each individual company within the supply
chain represents a value chain, a network of value adding activities. These
value adding activities are also known as business processes, a standardized
set of activities that accomplish a specific task within a business.


Business Process - correct answer ✔a standardized set of activities that
accomplish a specific task, such as processing a customer's order


Value Chain - correct answer ✔The set of activities through which a product
or service is created and delivered to customers.
o Views an organization as a series of integrated value adding business
processes, each of which adds value to the product or service


Supply Chain - correct answer ✔o A network of organizations and facilities
that transform raw materials into products delivered to customers
o A set of business process that allow multiple independent entities, such as
suppliers, manufacturers, and retailers to function as one 'virtual' organization
to develop and deliver products or economic value to consumers

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