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ISA 235 EXAM 1 Question and answers rated A+ ISA 235 EXAM 1 What are the drivers of information age? - correct answer -knowledge, data, information, business intelligence Explain systems thinking and how management information systems enable business communications. - correct answer - S...

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  • November 8, 2024
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  • 2024/2025
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ISA 235 EXAM 1
What are the drivers of information age? - correct answer ✔-knowledge,
data, information, business intelligence


Explain systems thinking and how management information systems enable
business communications. - correct answer ✔- Systems thinking is a way of
monitoring the entire system by viewing multiple inputs being processed to
outputs while continuously collecting feedback. Input-process-output
(feedback overall). MIS enables business communications by moving
information across the company to facilitate decision making and problem
solving.


What is information silo? How can system thinking overcome the negative
effect of information silo? - correct answer ✔-information silo is where
isolated data is stored. Unable to communicate with other info management
systems. The communication in an information silo is always vertical, meaning
it is almost impossible to work with unrelated systems. System thinking can
overcome the negative effect of information silo because it overlooks an entire
system at once and communicates with each other.


Clearly explain what I mean when I say "Supply Chains are interlinked Value
Chains which are sets of Business Processes". Be sure to demonstrate your
understanding of all three in your reply. - correct answer ✔-supply chains
include everything involved In a good or service, how the product goes from
the producer to the consumer. Value chains are sets of activities to finish
tasks such as receiving a raw material then they add value to them, go
through processes and finally sell it. A value chain creates a competitive
advantage for a company/value added to company. Business processes are
sequences of activities or tasks which will result in a good or service for a
consumer.

, What is SWOT analysis? Why do we perform it? - correct answer ✔-swot
analysis is strengths, weaknesses, opportunities, threats. We perform it to
measure these different areas in a given situation in order to make it better
and identify what's going well.


Give one example of the following Porter's strategies. Cost leadership in a
broad market, Differentiation in a broad market, Cost leadership in a
narrow/focused market, Differentiation in a narrow/focused market. (see the
support slides of chapter 1) - correct answer ✔-cost leadership in a broad
market: Walmart
-differentiation in a broad market: neiman marcus, Nordstrom
-cost leadership in a narrow/focused market: payless shoes
-differentiation in a narrow/focused market: tiffany and co


Demonstrate how a company can add value by using Porter's value chain
analysis. - correct answer ✔-a company can add value using Porter's value
chain analysis by using it to identify competitive advantages in their company.
Ex: healthcare industry- primary value of service adds value, etc


What are the different ways companies can increase the entry barrier for new
entrants? - correct answer ✔-companies can increase the entry barrier for
new entrants by having patents, licensing, high technology production
processes, negotiating exclusive contracts with retailers or suppliers, brand
loyalty. (1. Legal 2. Technical 3. Strategic 4. Brand loyalty)


Why is it important for a company to operate cross-functionally? - correct
answer ✔-it is important for a company to operate cross-functionally because
if one piece is removed from a business it will not operate properly. So, if a
company is not performing cross-functionally then it wont be integrating all
operations in all departments, therefore not being as effective as possible.

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