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Flashcards in Midterm Deck (81)
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1

Competitive Advantage

anything that gives a firm a lead over its rivals

2

Automation

Using information systems to do activity faster, cheaper with more accuracy and consistency.

3

Organizational Learning

focuses on using information systems to improve business processes based on the analysis of past behavior

4

Data

Raw symbols, such as characters and numbers that have no meaning in and of themselves, and are of little value until processed. Ex- 123456789=??

5

Information

formatted data. Ex-123-45-6789 =SSN

Ex- a list of potential donors who live in Seattle and enjoy sports

6

Knowledge

When information is understand and can be used, it becomes knowledge

7


Which describes the relationship between data and information?

Data are raw facts with no meaning in and of themselves

information is data that has been transformed to be useful

8

CIO

responsible for strategic planning and IS use throughout the firm

9

Internet of Things-

network of a broad range of physical objects that can automatically share data over the Internet

10

Big Data

concerned with the generation, collection and analysis of vast quantities of unstructured data

11

Information Technology

hardware, software and networks

12

Information Systems-

hardware, software, data, processes, people

13

Business competency

sets an IS professional apart from other and may help protect a person’s job.

14

Executive Level of Organization

- EIS system

unstructured Decisions

long-term strategic questions

presidents, VP, chief information officers

15

Managerial Level of Organization

-MIS/DSS systems

semi structured decisions

controlling of operational events

midlevel managers and functional managers

16

Operational Level of Organization

TPS system

Structured Decisions

automate routine and repetitive actives and events

Foremen and supervisors.

17

What are the 3 primary types of management information systems available to support decision making across company levels?

TPS, DSS, EIS

18

What type of organizational strategy is used by Porsche?

Differentiation

19

What is a standard set of activities that accomplishes a specific task?

Business Process

20


Organizations offering a free basic subscription that can be upgraded to a fee based system….

Freemium

21

___ is high in an industry when alternative products that offer attractive savings are available

Threat of substitutes

22

TPS

Transaction Processing System. Technology used to make transactions

23

MIS

Managerial Information System. Used by mid-level managers, larger, more data.

24

DSS

Decision support system. Used at the mid-level.

25

EIS

Executive Information System. Condensed, succinct.

26

Structured Decisions

processing certain information in a specified way so that you will always get the right answer

27

Unstructured Decisions

one for which there may be several “right” answers, without a sure way to get the right answer

28

Business Process

a method of improving functioning of an organization

29

Freemium

is a marketing approach companies use to obtain customers by offering something for free to build a large customer base and then charge a premium for unrestricted versions with more functionality

30

Porter's 5 forces (definition)

evaluates the attractiveness of an industry

-Bargaining Power of Suppliers
-Bargaining Power of Buyers
-Threat of new entrants
-Threat of Substitute Products or Services
-Rivalry among existing firms