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K201 LECTURE MIDTERM STUDY GUIDE AND ANSWERS.
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- ACCOUNTING
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- ACCOUNTING
K201 LECTURE MIDTERM STUDY GUIDE AND ANSWERS.
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K201 LECTURE MIDTERM STUDYGUIDE AND ANSWERS
Q1-1: Why is intro to MIS the most important class in the
business school? - CORRECT ANSWER-- It will give you the
background you need to assess, evaluate, and apply emerging
information systems technology to business
- Can give you the ultimate in job security--marketable skills--by
helping you learn abstraction, systems thinking, collaboration,
and experimentation
- Many well paid MIS related jobs are in high demand
Ch 1: Information age - CORRECT ANSWER-- Production,
distribution, and control of information is the primary driver of
the economy
- Started in the 1970's with the Digital revolution (conversion
from mechanical and analog devices to to digital devices)
Ch 1: Bells Law - CORRECT ANSWER-A new computer class
forms roughly each decade establishing a new industry
Ch 1: Moore's Law - CORRECT ANSWER-- 1965, Gordon
Moore, cofounder of Intel Corporation
- The number of transistors per square inch on an integrated
chip doubles every 18 months
Ratio of price to performance of computer processors has fallen
dramatically. Cost of processing data is approaching zero
Ch 1: Metcalfe's Law - CORRECT ANSWER-- Robert Metcalfe,
inventor of ethernet cable
,- The value of a network is equal to the square of the number of
users connected to it
- As more digital devices are connected together, the value of
the network will increase
Ch 1: Nielsen's Law - CORRECT ANSWER-- Network
connection speeds for high end users will increase by 50%
each year
- Network connection is increasing---higher speeds = new
products, platforms, companies
Ch 1: Kryder's Law - CORRECT ANSWER-- Storage density on
magnetic discs are increasing exponentially
- Cost of storing data is approaching zero
Q1-2: How will MIS affect me? - CORRECT ANSWER-Job
security
- Only job security that exists is "a marketable skill and the
courage to use it"
Strong routine (Cognitive skills)
Abstract reasoning
- Construct a model or representation
Systems thinking
- Model system components and show how components inputs
and outputs relate to each other
Collaboration
- Develop ideas and plans with others. Provide and receive
critical feedback
, Ability to experiment
- Create and test promising new alternatives, consistent with
available resources
Technology Skills Gap
- Mismatch between the high levels of tech skills demanded by
employers and the low level of tech skill held by employees
As the price of computer technology plummets, the value of
jobs that benefit from it increase dramatically
Q1-3: What is MIS? - CORRECT ANSWER-- MIS =
management information systems (the management and use of
information systems that help organizations achieve their
strategies
- Not to be confused with Information systems (IS) ( assembly
of hardware, software, data, procedures, and people that
produces information) or Information technology (IT) (the
products, methods, inventions, and standards used for the
purpose of producing information)
- Cannot buy and IS but you can buy and IT (can buy or lease
hardware, can license programs and databases, can obtain
predesigned procedures
- Example: Organization wants to create a facebook page--
Facebook provides the IT but you must provide the IS
Ch 1: Components of an information system - CORRECT
ANSWER-- System: Group of components that interact to
achieve some purpose
- Five-component framework: a model of the components of an
information system
- Computer hardware, software, data, procedures, and people
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