Lecture 1

Question 1

What is an Information System?

Answer 1

A set of integrated components for collecting, processing, and storing data.

Question 2

What is Cloud Computing?

Answer 2

Delivery of computing services over the internet.

(e.g databases, networking, storage, etc)

Question 3

What is E-Commerce?

Answer 3

Buying and selling of goods and services online.

Question 4

What defines a Digital Firm?

Answer 4

A firm where core processes are digitally enabled.

Question 5

What is Operational Excellence?

Answer 5

The improvement in efficiency and tools to attain higher profitability and organizational performance.

Question 6

What is Customer Intimacy?

Answer 6

Building strong relationships with customers for loyalty.

Question 7

What is Supplier Intimacy?

Answer 7

Close relationships with suppliers for cost reduction.

Question 8

What is Decision Making?

Answer 8

Process of making choices based on information.

Question 9

What is Competitive Advantage?

Answer 9

Factors that allow a company to produce goods or services better or more cheaply than its rivals.

Question 10

What is Survival in a business context?

Answer 10

Necessity of information technologies for business.

Question 11

What are New Business Models?

Answer 11

Innovative ways to create, deliver, and capture value.

Question 12

What is Big Data?

Answer 12

Large volumes of data analyzed for insights.

Question 13

What does AI stand for?

Answer 13

Simulation of human intelligence in machines.

Question 14

What is the Internet of Things (IoT)?

Answer 14

Network of interconnected devices communicating data.

Question 15

What are Management Changes?

Answer 15

Shifts in management practices due to technology.

Question 16

What is Globalization?

Answer 16

Integration of economies through global communication.

Question 17

What is Time Shifting?

Answer 17

Ability to work across different time zones.

(Business being conducted continuously 24/7)

Question 18

What is Space Shifting?

Answer 18

Ability to work from various locations.

(In global workshop within national boundaries)

Question 19

What is the Retail Link System?

Answer 19

Walmart’s system linking suppliers for efficient replenishment.

Question 20

What is a Business Model?

Answer 20

Framework for how a company creates value.

Question 21

What is Real-Time Data?

Answer 21

Information available immediately for decision making.

Question 22

What is Management Consulting?

Answer 22

Advisory services to improve business performance.

Question 23

What are Virtual Meetings?

Answer 23

Online gatherings using digital communication tools.

Question 24

What is Business Intelligence?

Answer 24

Technologies for analyzing business data.

Question 25

What is Information Technology?

Answer 25

Hardware and software for achieving business objectives.

Question 26

What is Data?

Answer 26

Raw facts collected for processing.

Question 27

What is Information?

Answer 27

Data shaped into meaningful form.

Question 28

What are ATMs?

Answer 28

Automated teller machines introduced by Citibank.

Question 29

What is the Toxic Substances Control Act?

Answer 29

Regulation requiring record-keeping for hazardous substances.

Question 30

What is the Sarbanes-Oxley Act?

Answer 30

Law enhancing corporate governance and accountability.

Question 31

What is the Dodd-Frank Act?

Answer 31

Regulation aimed at financial stability and consumer protection.

Question 32

What is Input in an information system?

Answer 32

Raw data provided to an information system.

Question 33

What is Processing?

Answer 33

Conversion of raw data into meaningful information.

Question 34

What is Output?

Answer 34

Information supplied to users or other systems.

Question 35

What is Feedback?

Answer 35

Output returned for evaluation or correction.

Question 36

What is the Business Information Value Chain?

Answer 36

Stages transforming raw data into valuable information.

Question 37

What are Complementary Assets?

Answer 37

Assets enhancing value from primary investments.

Question 38

What is the Technical Approach?

Answer 38

Focus on mathematically based models in information systems.

Question 39

What is the Behavioral Approach?

Answer 39

Focus on human factors in information systems.

Question 40

What is the Sociotechnical Approach?

Answer 40

Optimizing both social and technical systems together.

Question 41

Who are Industry Leaders?

Answer 41

Companies excelling in using information systems effectively. ## Footnote (e.g Apple, Walmart, UPS)

Question 42

What is Real-Time Response?

Answer 42

Immediate reaction to customer and supplier needs.

Question 43

What are Organizational Dimensions?

Answer 43

Hierarchy, culture, and processes within a business.

Question 44

What are Management Dimensions?

Answer 44

Strategic decision-making and product/service creation.

Question 45

What are Technology Dimensions?

Answer 45

Hardware, software, and data management infrastructure.