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CIS > 1, 2, 3, 4 > Flashcards

1, 2, 3, 4 Flashcards

1
Q

balanced scorecard

A

A management system that enables organizations to clarify their vision and strategy and translate them into action.

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2
Q

benchmark

A

Baseline values the system seeks to attain.

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3
Q

benchmarking

A

The process of continuously measuring system results, comparing those results to optimal system performance (benchmark values), and identifying steps and procedures to improve system performance.

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4
Q

best practices

A

The most successful solutions or problem-solving methods that have been developed by a specific organization or industry.

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5
Q

business-facing process

A

Invisible to the external customer but essential to the effective management of the business and includes goal setting, day-to-day planning, performance feedback, rewards, and resource allocation.

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6
Q

business intelligence (BI)

A

Refers to applications and technologies that are used to gather, provide access to, and analyze data and information to support decision-making efforts.

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7
Q

business process

A

A standardized set of activities that accomplish a specific task, such as processing a customer’s order.

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8
Q

business process reengineering (BPR)

A

The analysis and redesign of workflow within and between enterprises.

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9
Q

business strategy

A

A leadership plan that achieves a specific set of goals or objectives.

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10
Q

buyer power

A

Is assessed by analyzing the ability of buyers to directly impact the price they are willing to pay for an item.

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11
Q

competitive advantage

A

A product or service that an organization’s customers place a greater value on than similar offerings from a competitor.

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12
Q

competitive intelligence

A

The process of gathering information about the competitive environment, including competitors’ plans, activities, and products, to improve a company’s ability to succeed.

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13
Q

critical success factor (CSF)

A

A factor that is critical to an organization’s success.

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14
Q

CRM reporting technologies

A

Help organizations identify their customers across other applications.

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15
Q

CRM analysis technologies

A

Help organizations segment their customers into categories such as best and worst customers.

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16
Q

CRM predicting technologies

A

Help organizations make predictions regarding customer behavior such as which customers are at risk of leaving.

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17
Q

customer-facing process

A

Results in a product or service that is received by an organization’s external customer.

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18
Q

customer relationship management (CRM)

A

Involves managing all aspects of a customer’s relationship with an organization to increase customer loyalty and retention and an organization’s profitability.

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19
Q

data

A

Raw facts that describe the characteristics of an event.

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20
Q

efficiency MIS metric

A

Measures the performance of the IT system itself including throughput, speed, and availability.

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21
Q

effectiveness MIS metric

A

Measures the impact IT has on business processes and activities including customer satisfaction, conversion rates, and sell-through increases.

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22
Q

enterprise resource planning (ERP)

A

Integrates all departments and functions throughout an organization into a single IT system (or integrated set of IT systems) so that employees can make decisions by viewing enterprisewide information on all business operations.

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23
Q

entry barrier

A

A product or service feature that customers have come to expect from organizations in a particular industry and must be offered by an entering organization to compete and survive.

24
Q

fact

A

The confirmation or validation of an event or object.

25
Q

feedback

A

Information that returns to its original transmitter (input, transform, or output) and modifies the transmitter’s actions.

26
Q

first-mover advantage

A

An organization can significantly impact its market share by being first to market with a competitive advantage.

27
Q

goods

A

Material items or products that customers will buy to satisfy a want or need. Clothing, groceries, cell phones, and cars are all examples of goods that people buy to fulfill their needs.

28
Q

information

A

Data converted into a meaningful and useful context.

29
Q

key performance indicator (KPI)

A

Measures that are tied to business drivers.

30
Q

knowledge

A

Skills, experience, and expertise coupled with information and intelligence that creates a person’s intellectual resources.

31
Q

knowledge workers

A

Individuals valued for their ability to interpret and analyze information.

32
Q

loyalty program

A

Rewards customers based on the amount of business they do with a particular organization.

33
Q

management information systems (MIS)

A

A general name for the business function and academic discipline covering the application of people, technologies, and procedures—collectively called information systems—to solve business problems.

34
Q

market share

A

Calculated by dividing the firm’s sales by the total market sales for the entire industry.

35
Q

metrics

A

Measurements that evaluate results to determine whether a project is meeting its goals.

36
Q

primary value activities

A

Found at the bottom of the value chain, these include business processes that acquire raw materials and manufacture, deliver, market, sell, and provide after-sales services.

37
Q

production

A

The creation of goods and services using the factors of production: land, labor, capital, entrepreneurship, and knowledge.

38
Q

productivity

A

The rate at which goods and services are produced based upon total output given total inputs.

39
Q

project

A

A temporary endeavor undertaken to create a unique product or service.

40
Q

product differentiation

A

An advantage that occurs when a company develops unique differences in its products with the intent to influence demand.

41
Q

return on investment (ROI)

A

Indicates the earning power of a project.

42
Q

rivalry among existing competitors

A

High when competition is fierce in a market and low when competition is more complacent.

43
Q

service

A

A business task.

44
Q

supplier power

A

High when one supplier has concentrated power over an industry.

45
Q

supply chain

A

Consists of all parties involved, directly or indirectly, in the procurement of a product or raw material.

46
Q

supply chain management (SCM)

A

Involves the management of information flows between and among stages in a supply chain to maximize total supply chain effectiveness and profitability.

47
Q

support value activities

A

Found along the top of the value chain and includes business processes, such as firm infrastructure, human resource management, technology development, and procurement that support the primary value activities.

48
Q

system

A

A collection of parts that link to achieve a common purpose.

49
Q

systems thinking

A

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.

50
Q

switching cost

A

The costs that can make customers reluctant to switch to another product or service.

51
Q

threat of new entrants

A

High when it is easy for new competitors to enter a market and low when there are significant entry barriers to entering a market.

52
Q

threat of substitute products or services

A

High when there are many alternatives to a product or service and low when there are few alternatives from which to choose.

53
Q

value chain analysis

A

Views a firm as a series of business processes that each add value to the product or service.

54
Q

variable

A

A data characteristic that stands for a value that changes or varies over time.

55
Q

workflow

A

Defines all the steps or business rules, from beginning to end, required for a business process.

CIS (9 decks)

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