MIS 200 Complete Study Guide With Verified Answers.

Data - correct answer raw facts that describe the characteristic of an event Information - correct answer data converted/ organized into useful context Intelligence - correct answer applications and technologies that are used to support decision making efforts System - correct answer set of elements or components that interact to accomplish goals Components: input, processing, output, feedback What is an Information system? - correct answer • An information system is a group of components that work together to accomplish a goal o Hardware: use computer to type o Software: word, access o Data: the words, sentences, being typed o Procedures: methods you use to start the program, printing, entering reports o People: you What is MIS? - correct answer • Development and use of information systems that help businesses achieve goals and objectives o Development and use: every system must be developed, even if you are not an IS or IT specialist you still have a large part in development through systems requirement, help them know what to construct o Achieving business goals and objectives: exist to help the people who work in a business to more conveniently achieve their goals. Should not create systems for the wrong reasons, in order to succeed must have a good reason to create a system and good use. How does IS differ from IT? - correct answer • Information Technology: methods, inventions, standards, products, raw materials, hardware and software only • Information systems: hardware, software, data, procedures, people • IT alone cannot help company achieve goals, only together with IS can a company's systems work properly How do successful businesses professionals use IS? - correct answer • Successful business professionals use IS anywhere from searching the web, to printing out reports, to blogging in an effort to reach all of their employees with the information that they want to reach them with, essentially they integrate technology into their work environment alignment - correct answer Aligning business technology to achieve business goals and objectives Why is there a gap between IT and non-IT people? - correct answer IT people work specifically on the hardware and software aspect of the company. They do not work well with the functional departments. The Functional departments need IT people to assist them but they usually just solve the technical problem without explaining anything. How can value be created? - correct answer Value can be created by creating strong value chains How does MIS help in filling the gap and creating the value? - correct answer MIS people because they specialize in both software and hardware, as well as the people data and procedures that are involved with running a successful company. They help the functional departments use their technology in the most efficient ways, which adds value because the company runs more smoothly Why is MIS a critical component of you? - correct answer MIS is critical to me because whatever field I enter into in the future I will need to work with the management of the information systems that I am using. Information systems surround us in the business world as well as in our everyday lives, and we need to have a relationship with those who specialize in MIS in order to most effectively work. Abstraction - correct answer describes how to use a model to assess the scope of a new information system Systems thinking - correct answer model system components, connect inputs and outputs, and to reflect on the structure of a system; illustrate system, critique, compare system to others.. Collaboration - correct answer two or more people working together to achieve goals and objectives Experimentation - correct answer Reasoned analysis of an opportunity; developing and evaluation possibly solutions Moore's Law - correct answer Cost of data communications storage is essentially zero Number of transistors per square inch on an integrated chip doubles every 18 months How does organizational strategy determine information systems structure? - correct answer The organizational strategy of a company is when the company examines the structure of their company in order to fit competitively into their industry. Competitive strategy determines value chains, which determines business processes. Business processes determine design of the information systems What five forces determine industry structure? - correct answer • Bargaining power of customers • Threat of substitution • Bargaining power of suppliers • Threat of new entrant • Rivalry Competitive Strategy - correct answer • The strategy a company chooses to use to compete within the industry: o Industry-wide low cost o Focus low cost o Industry-wide Differentiation o Focus Differentiation Value Chain - correct answer A network of value creating activities Primary Activities - correct answer receiving raw materials and turning them into a finished product, marketing that product, and servicing customers- directly helping company o Marketing and sales o In-bound logistics o Operations o Out-bound logistics o Service Support activities - correct answer contribute indirectly to the production, sale, and service; Human resources, training, compensation How do value chains determine business processes and information systems? - correct answer Business processes support value chains. Value chains are created to help the business processes run most efficiently so they are directly dependent on each other. Value chains can be the same for multiple companies but their difference lies within competitive strategies. How do information systems provide competitive advantages? - correct answer Via products (product implementation): creating new products and services, enhancing existing products, and differentiating products from competitors, all of which use information technology Via Business processes (process implementation): o Lock in customers, making it difficult to switch to another product (High switching costs: easier to fix car then buy a different one) o Lock in suppliers: making it difficult to switch to another company aka making it very easy to work with o Creating entry barriers: make it difficult for new entrants o Establishing alliances: promotes product awareness o Reducing costs: increases profitability What is hyper competition? - correct answer The