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isa 235 final gowins Question and answers rated A+

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isa 235 final gowins Question and answers rated A+ isa 235 final gowins data - correct answer raw facts that describe the characteristics of an event or object information - correct answer data converted into meaningful and useful context business intelligence - correct answer inf...

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  • November 8, 2024
  • 20
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

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  • ISA 235
  • ISA 235

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isa 235 final gowins
data - correct answer ✔raw facts that describe the characteristics of an event
or object


information - correct answer ✔data converted into meaningful and useful
context


business intelligence - correct answer ✔information collected from multiple
sources that are then analyzed for patterns, trends, and relationships for
strategic decision making


knowledge - correct answer ✔the skills, experience, and expertise, coupled
with information and intelligence, that creates a person's intellectual resources


management information systems - correct answer ✔a business function,
like accounting and human resources, which moves information about people,
products, and processes across the company to facilitate decision-making and
problem solving


system - correct answer ✔a collection of parts that link to achieve a common
purpose


feedback - correct answer ✔information that returns to its original transmitter
and modifies the transmitter's actions


systems thinking - correct answer ✔a way of monitoring the entire system by
viewing multiple inputs being processed or transformed to produce outputs
while continuously gathering feedback on each part

,business strategy - correct answer ✔a leadership plan that achieves a
specific set of goals or objectives


competitive advantage - correct answer ✔a product or service that an
organizations customers place a greater value on than similar offerings from a
competitor


SWOT analysis - correct answer ✔evaluates an organizations strengths,
weaknesses, opportunities, and threats to identify significant influences that
work for or against business strategies


porter's five forces model - correct answer ✔a model for analyzing the
competitive forces within the environment in which a company operates, to
assess the potential for profitability in an industry


porter's three generic strategies - correct answer ✔generic business
strategies that are neither organization or industry specific and can be applied
to any business, product, or service


porter's value chain analysis - correct answer ✔views a firm as a series of
business processes that each add value to the product or service


business process - correct answer ✔a standardized set of activities that
accomplish a specific task, such as a specific process


competitive advantage building blocks - correct answer ✔evaluate = SWOT,
five forces model
set strategy = three generic strategies
execution = value chain analysis

, how supply chains, values chains, and business processes connect - correct
answer ✔supply chains are interlinked values chains and each value chain is
comprised of business processes


managerial decision making processes - correct answer ✔- large amounts of
information
- need for sophisticated analysis techniques
- must make decisions quickly


business decision making process - correct answer ✔1. problem
identification
2. data collection
3. solution generation
4. solution test
5. solution selection
6. solution implementation


information levels throughout organization - correct answer ✔- strategic
(coarse, analytical)
- managerial
- operational (fine, transactional)


metrics - correct answer ✔measurements that evaluate results to determine
whether a project is meeting its goals


critical success factors - correct answer ✔crucial steps companies perform to
achieve their goals and objectives and implement their strategies

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