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D075: Information Technology Management Essentials > The Role of IT in Business > Flashcards

The Role of IT in Business Flashcards

(101 cards)

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1
Q

refers to the network of businesses, individuals, organizations, resources, and activities that are involved in creating and delivering a product or service to customer

A

supply chain

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2
Q

management of a wide range of components and processes, such as storing raw materials, managing the inventory, warehousing, and moving finished products from the point of manufacture to the point of consumption

A

Supply chain management

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3
Q

are an integral part of any company that produces a product to sell to consumers, end users, or other companies

A

supply chains

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4
Q

plays an integral part of supply chain management

A

information technology (IT)

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5
Q

This process ensures that inventory is kept to a minimum, reducing costs and improving efficiency

A

just-in-time methodology

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6
Q

a form of inventory management that requires working closely with suppliers so that raw materials arrive as production is scheduled to begin, but no sooner

A

just-in-time methodology

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7
Q

The Five Business Departments

A
  • Accounting
  • Production or operations
  • Research and development
  • Marketing
  • Human resource
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8
Q

knows how many cars need to be sold for the business to be profitable

Business Department

A

accounting department

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9
Q

needs to know exactly how many cars to produce

Business Department

A

production department

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10
Q

is betting that its new innovations will sell more cars

Business Department

A

research and development department

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11
Q

knows which models of the Camaro certain people are most likely to buy and what the car’s appropriate price should be

Business Department

A

marketing department

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12
Q

knows how many people it takes to make a car

Business Department

A

human resources department

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13
Q

are accounting rules for preparing, presenting, and reporting financial statements so an organization and its investors can have a standard set of reports regarding a business’s well-being

A

generally accepted accounting principles (GAAP)

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14
Q

were enacted to counter fraudulent reporting

A

Sarbanes-Oxley Act of 2002 (SOX)

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15
Q

Many businesses make tangible products like cars and machinery

A

goods

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16
Q

Others create intangible products

A

services

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17
Q

focus their efforts on which goods and services to produce, how to produce them, and what it will cost to produce them

A

production departments

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18
Q

also focus their attention on the most efficient and cost-effective way to produce goods and services to maximize profits

A

production departments

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19
Q

take a creative and systematic approach to evolve a business’s original idea and devise new ones

A

research and development department

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20
Q

A review of the subject and what has already been done in the world of business to determine whether any of it has a commercial application for the business

A

Basic research

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21
Q

Research that is focused on developing a commercial product or process to meet customer or industry requirements and needs. This includes studying what other solutions exist in the market

A

Applied Research

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22
Q

The stage of R&D where the findings of the research are used for the production of products, including the results of the simulations run using IT to develop material requirements and methodologies of production

A

Development Research

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23
Q

the promotion of a business’s products and/or services is the fourth core business department

A

marketing

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24
Q

focus on customers and have core responsibilities like advertising and branding a business’s products and services

A

marketing departments

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25
a business will **charge less** for a product when the supply of the **product is plentiful** and **charge more** for the same product in a region where the **product is scarce**
economic theory
26
is a crucial aspect of IT that **aims to enhance a website's visibility** in search results when users look for relevant keywords
Search engine optimization (SEO)
27
Marketing advertisements within the results pages **have been paid for by businesses so that their products or services** are displayed prominently (usually at the top or side) of the search page based on the search criteria | search engine results pages (SERPs)
Paid search campaigns
28
**Displayed below or alongside the paid advertisements**, these query results are calculated algorithmically, based on factors such as keyword relevance, content quality, and site authority | search engine results pages (SERPs)
organic search results
29
where the brand is charged only when a user clicks on the advertisement
pay-per-click (PPC) or cost-per-click (CPC) advertising
30
the most important asset in any business
people
31
involve ensuring compliance with **employment laws and regulations**, managing **employee benefits and compensation**, **addressing employee grievances**, and **maintaining a healthy work environment**
human resources department
32
the practice of **using data analysis techniques** to understand, measure, and improve various aspects of **human resources management** within an organization
HR analytics or workforce analytics
33
involves two or more people or departments working together towards a common business goal
business collaboration
34
Measures and provides financial information about an organization | department
accounting
35
**Prepares goods and services** to be sold in the most efficient and cost-effective way | department
production/operations department
36
Presents a **creative and systematic approach** to evolve a business's original idea and devise new ones | department
research and development
37
**Focuses on customers** and is responsible for **advertising and branding a business's products** and services | department
marketing
38
Is responsible for the **administration of a business's personnel** | department
human resources
39
refers to the **acceptance of and commitment to a particular idea** or course of action
Buy-in
40
Which business department closely aligns with the customer-centric IT services aimed at enhancing core business functions in a cutting-edge organization known for implementing emerging technologies?
marketing
41
Which tool helps teams track progress, share documents, communicate effectively, and collaborate efficiently on projects, thereby supporting common business goals?
project management software
42
enables teams to track progress, share documents, communicate effectively, and collaborate efficiently on projects, thereby supporting their common business goals
project management software
43
Which term describes a private computer network for sharing corporate information, collaboration tools, and computing services?
intranet
44
for internal use only
intranet
45
are the most significant implementation of an IT system
transaction processing systems (TPS)
46
Services like **Apple Pay, Google Pay, and Square Cash** enable users to make contactless payments, transfer money, and manage transactions through their smartphones
Mobile wallets and peer-to-peer payment apps
47
Platforms like **Stripe, PayPal, and Adyen** facilitate online payment processing for businesses, handling transactions for a wide range of industries and currencies
E-commerce payment gateways
48
Solutions like **Marketo, Mailchimp, and Pardot process transactions** associated with email campaigns, lead generation, and customer engagement, helping businesses optimize their marketing efforts
Digital marketing automation tools
49
are typically **presented in a document format**, such as PDF or Word, and may include charts, graphs, and tables to illustrate data
executive reports
50
provide an **in-depth analysis** of specific **business** aspects, events, or metrics
executive reports
51
often **created periodically**, such as monthly, quarterly, or annually, to **review the company's performance**
executive reports
52
are used to **support tactical decisions** that refer to specific actions that serve a larger purpose
tactical reports
53
a **summary of the detailed TPS reports** and can sometimes be used for strategic decisions, but it is generally used for tactical decisions that require specific actions
Management reporting
54
are **visual representations of data**, typically displayed in a web-based or software application interface
Executive dashboards
55
provide a quick, real-time, and easily accessible overview of the company's performance
executive dashboards
56
focus on presenting a high-level view of the data, emphasizing key metrics and KPIs | platform
dashboards
57
information systems that **manage the information on a company's customers**, including all interactions with each customer
Customer relationship management systems (CRM)
58
A CRM is three things to a business:
1. technology 2. strategy 3. process
59
are information systems that are **interactive software-based systems** **designed to assist decision makers** in compiling useful information from business data and business models to make large business decisions
Decision support systems (DSS)
60
Decision support systems need three elements for accurate decision-making:
* business intelligence * data analytics * data management capabilities
61
a **framework for gathering, managing, and analyzing data**
geographic information system (GIS)
62
It analyzes locations and organizes layers of information into visuals using **computer-generated maps**
geographic information system (GIS)
63
How does a Customer Relationship Management (CRM) system benefit a business?
Facilitates targeted marketing strategies
64
can track customer interactions and preferences, providing insights that can inform targeted marketing strategies to increase sales
customer relationship management (CRM)
65
How can a business address the challenge of capturing excessive amounts of data in its IT systems?
Limit data capture to necessary information only
66
Which type of reporting should a company utilize when using customer relationship management (CRM) data on its call volume to determine call center staffing?
Tactical
67
What is the purpose of reporting systems in business?
Facilitate decision-making
68
focuses on **production requirements and simulation studies**
development research
69
a system that **collects** and stores **customer transactions data**.
Transaction processing system (TPS)
70
is a **type of online advertising and is not related to increasing a web page’s visibility** in search engine results
Search engine results page advertising (SERP)
71
is a marketing technique **used to increase a web page’s visibility** in search engine results
Search engine optimization (SEO)
72
the **primary language used to write database queries** that can retrieve data for reports
Structured Query Language (SQL)
73
a **server that listens for client requests** that serve web documents like **web pages**
web service
74
What is the process of using clustered servers to provide virtual resources that can accommodate the demand of a website?
cloud web hosting
75
What is a function of computer-aided design/computer-aided manufacturing (CAD/CAM) in the manufacturing process?
Reduce development time and provide detailed instructions for manufacturing
76
allows businesses to store, manage, and **access data and applications over the internet** rather than on local servers or computers
cloud computing
77
Social media **platforms like Facebook, Twitter, and Instagram** allow businesses to reach a wider audience and connect with customers in new and innovative ways.
Social media marketing
78
widely used technology that **enables devices to communicate** with each other **wirelessly** within a short range
bluetooth network
79
are designed to **receive signals from an app** on a phone, in a car, from other devices, and **from geostationary satellites so that a precise location can be determined**
Global positioning systems (GPS)
80
Which type of wireless network uses a short-range network for connection between a cell phone and another device, such as a speaker?
Bluetooth
81
How has the use of browser-based web development tools affected the demand for professional web developers?
It has decreased the need for professional web developers
82
the discipline dealing with what is good and bad and with moral duty and obligation
ethics
83
principles of right and wrong in human behavior and then conforming to them
Morals
84
involve issues such as **privacy, security, and data protection**, and they have become increasingly relevant with the rise of new technologies such as artificial intelligence and big data
Ethical dilemmas in information technology
85
A definitive **right given to the owner** of an original work
Copyrights
86
**Words, designs**, and so forth that **identify** a source of a product
Trademarks
87
Established to encourage innovation and technological advances and **protect the rights of the inventor**
Patents
88
Information that is **private or not known outside the company** and if disclosed would cause harm or loss to the corporation
Trade secret
89
let users on their network exchange music files (**MP3s**) with anyone in the world and **monetize the free service through advertising**
Napster's business model
90
Which ethical dilemma is created if music is shared on a website without the artist’s authorization or knowledge?
The user has bypassed an artist’s copyright
91
used to conduct analytics and business intelligence activities to gain insights into business through data.
Decision support system (DSS)
92
is essential for real-time connectivity and data transfer between devices
High-speed internet
93
available everywhere, and the drone can use GPS to find the correct location
GPS
94
A graphic designer creates a website for a small business using a browser-based web development platform. The graphic designer copies an image file of a large company's logo and places the words “Just Buy It” underneath the logo and places the logo prominently on the website. Which intellectual property law does this website violate?
Trademark
95
What do Internet of Things (IoT) devices need to be able to communicate with other devices?
Unique identifier on the internet
96
Which issue hinders the effective use of decision support systems (DSS)?
The collection of too much data
97
Why does management use transaction processing system (TPS) data?
Tactical decision-making
98
Which aspect of human resource management is supported by the IT department?
Administration of information on employees
99
What does the Sarbanes-Oxley Act of 2002 require of IT departments in companies located in the United States of America?
Ensure the accuracy and fair reporting of financial statements
100
What is the purpose of radio frequency identification (RFID)?
Tracking the inventory of the parts from a supplier
101
Which type of network configuration should be used when implementing a transaction processing system (TPS)?
Intranet

D075: Information Technology Management Essentials (6 decks)

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