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WGU C724 Information Systems Management Vocabulary 2022| 100% Verified Vocabulary
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WGU C724 Information Systems Management Vocabulary 2022| 100% Verified Vocabulary
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WGU C724 Information Systems Management Vocabulary1. Executive information system: A system that facilitates and
supports senior managerial decisions.
2. Data: Unorganized data that lacks meaning.
3. Information: Data that has been organized in a meaningful manner.
4. Information system: An integrated network of components
working together to convert data into useful information; includes an
input, a process, and an output; comprised of people, processes,
machines, and information technology.
5. Knowledge: The practical application of information.
6. Data, Information, and Knowledge example: Data: The number
of people below the poverty line in the region is 50,000.
Information: The number of people below the poverty line increases
between 2010 and 2018.
Knowledge: The number of people below the poverty line has
increased due to stagnating wages and cuts to social programs.
7. Decision support system: This system uses models and
statistical analysis to help decision makers solve problems
,8. Management information system (MIS): Provides timely and
accurate infor- mation that enables managers to manage their
departments more efficiently; analyzes performance.
9. Transaction processing system: information system used for
processing pa- tient admissions, employee time cards, and purchase
orders
10. Information management: The management of organizational
processes and systems; helps the organization reduce costs and
adds value to products; helps the organization make better
managerial decisions; stores and processes data.
11. Information technology: The use of computer and
telecommunications sys- tems for storing, retrieving, and sending
information; comprised of hardware, software, data, and networks.
12. information technology management: the management of
hardware, soft- ware, data, networks, and people that facilitate
access to information and allow the organization to achieve
business objectives.
13. Strategic information system: provide tools used by an
organization to ac- complish specific tasks to gain competitive
advantage.
, 14. Social Networking and interpersonal skills.: Enhances
interpersonal and relationship-forming skills.
15. Porters 5 competitive forces: Intensity
competitive rivalry bargaining power of customers
bargaining power of
suppliers threat of new
entrants
threat of substitutes
16. Network economics (network-based strategy): the cost of
adding another business participant to a business venture is small,
the potential gain is great.
17. Business ecosystems: Network of businesses involved in
delivering a prod- uct through mutual cooperation.
18. Product differentiation (business strategy): offering a higher
quality product to differentiate from others in the market
19. growth (business strategy): adding new products or new
enhancements to existing products
20. Enterprise Resource Planning (ERP): Involves utilizing computer
technology to link various aspects of a business; a very complex
resource planning system that spans the entire business; companies
often have difficulty implementing the system.
21. Customer Relationship Management (CRM): Allows for
personalized com- munication to customers.
, 22. Knowledge Management (KM): These systems provide tools to
help manage organizational knowledge and create value to meet
business requirements and strategic goals.
23. chief executive officer (CEO): also called president or managing
director, is responsible for the success or failure of the company,
creating the company culture, selecting the senior management
team, setting strategy and vision, and selecting projects to fund.
24. chief operations officer (COO): is the director of operations,
responsible for the oversight of internal operations on a day-to-day
basis and for monitoring production quotas
25. chief financial officer (CFO): manages the company's cash flow
and evalu- ates and communicates financial risks.
26. chief information officer (CIO): a business leader who analyzes
internal business processes such as payroll and billing, reshapes
the physical infrastruc-
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