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BUS 303 Saylor Questions and Correct Answer
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Elscores 8/19/2024 9:53:51 AMBUS 303 Saylor Questions and Correct
Answer
Information System
~: An integrated and cooperating set of software directed information technologies
supporting individual, group, organizational, or societal goals.
SWOT
~: An organization's strengths, weaknesses, opportunities, and threats. Used to evaluate their
business strategy.
Effectiveness
~: "Doing the right thing" A more effective firm can make better decisions and carry them out
more successfully.
Efficiency
~: "Doing things right". Less input effort but same output, or same amount of input effort
producing more output.
Fifth Wave
~: The current state in time where computers are so fast and so inexpensive that they have
become ubiquitous—woven into products in ways few imagined years before.
Information Technology
~: Hardware, software and telecommunication equipment that is used to capture, process, store
and distribute information.
, Elscores 8/19/2024 9:53:51 AM
Moore's Law
~: Means that next generation chips should be twice as fast in eighteen months, but cost the
same as today's models .
Porter's Five Forces
~: Supplier Power
Buyer Power
Threat of Substitution
Threat of New Entry
affect your Competitive Rivalvry
Also known as Industry and Competitive Analysis.
Regulatory Compliance
~: An organization's adherence to laws, regulations, guidelines and specifications relevant to its
business.
Return on Investment
~: Measures the amount of return on an investment, relative to the investment's cost.
(Gain from Investment - Cost of Investment) / Cost of Investment
, Elscores 8/19/2024 9:53:51 AM
Data Standardization
~: The critical process of bringing data into a common format that allows for collaborative
research, large-scale analytics, and sharing of sophisticated tools and methodologies.
Sustained Competitive Advantage
~: A long-term competitive advantage that is not easily duplicable or surpassable by the
competitors.
Business Process
~: A series of tasks that are repeated in order to produce a measurable output.
Strategic management
~: is concerned with creating the general framework in which the business process are executed.
Operational management
~: creates the workflow for formalizing and automating business processes and applying
information systems, as appropriate, to support process execution.
Administrative management
~: , typically the role of the IS unit, is responsible for developing the organizational and
information systems infrastructure to support business processes.
Data mart / warehouse
~: Repositories for large amounts of transactional data awaiting analytics and reporting.
, Elscores 8/19/2024 9:53:51 AM
ePK
~: event controlled chain of process diagrams
Business process management
~: This integrates an organization to make individual processes more efficient and can be used
to fix one problem or create a unifying system to consolidate problems.
Data mining
~: The process of analyzing data warehouses for information that can be used in management
decision making.
Notable applications:
Voice recognition
Classification of DNA sequences
Natural Language processing
Enterprise Resource Planning
~: The true value with this system is integration between the different systems and different
aspects of a company, with integration between selling, sourcing, producing, delivering, and
invoicing.
Business process reengineering
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