ACC200 Ch1 Set 4 Flashcards Preview

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Flashcards in ACC200 Ch1 Set 4 Deck (20):
1

How can an AIS add value to an organisation?

1) improving the quality & reducing costs of products or services
2) improving efficiency

3) sharing knowledge

4) improving efficiency & effectiveness of its supply chain

5) improving the internal control structure

6) improving decision-making

2

Steps to decision-making?

1) identify the problem
2) collect & interpret information

3) evaluate ways to solve the problem

4) select a solution methodology

5) implement the solution

3

How can an AIS help improve decision-making?

- it can identify situations requiring management action


- it can reduce uncertainty & thereby provide a basis for choosing among alternative actions

- it can store information about results of previous decisions, which provides valuable feedback that can be used to improve future decisions

- it can provide accurate information in a timely manner

4

How can an AIS help improve decision-making?

5

Factors influencing design of an AIS?

- organisational culture


- business strategy

- information technology

6

Predictive analysis

7

Value chain

a chain of activities that a firm operating in a specific industry performs in order to deliver a valuable  product  or  service  for the  market .

8

Primary activities

9

Value chain - five primary activities that directly provide value to customers?

1) Inbound logistics
2) Operations activities

3) Outbound logistics

4) Marketing & sales activities

5) Service activities

10

Inbound logistics

consist of receiving, storing & distributing materials an organisation uses to create services & products it sells

11

Operations activities

transform inputs into final products or services

12

Outbound logistics activities

distribute finished products or services to customers

13

Marketing & sales activities

help customers buy an organisation's products or services 

14

Service activities

provide post-sale support to customers

15

Support activities

allow the 5 primary activities to be performed efficiently and effectively 

16

Support activity categories

1) Firm infrastructure
2) Human resources activities

3) Technology activities

4) Purchasing activities

17

Firm infrastructure

usually made up of accounting, finance, legal and general administration activities that allow an organisation to function. An AIS is part of a firm's infrastructure

18

Human resources activities

19

Technology activities

improve a product or service

20

Purchasing activities

procure raw materials, supplies, machinery & buildings used to carry out primary activities