Show ISTM 209 BUSN INFO SYSTEM CONCEPT Texas A & M University-College Station A ___ is the confirmation or validation of an event or object. The ___ is the present time, during which infinite quantities of facts are widely available to anyone who can use a computer.
What are 3 examples of the power of business and technology?
What are the 4 core drivers of the information age? ___ are raw facts that describe the characteristics of an event or object. A fundamental role of all business managers is to be able to take the ___ and analyze it to make great business decisions. ___ is data that is converted into meaningful and useful context. If you were building a system to track students, height, name, and hair color would be examples of ___. If you were building a system to track students, student to professor ratio, number of students who pass the course, and percentage of marketing majors who are female would be examples of ___. If you were building a system to track inventory, chair manufacturer, chair color, and chair size would be examples of ___. If you were building a system to track inventory, number of chairs required for students in each class and average number of chairs replaced per year would be examples of ___. ___ is information collected from multiple sources such as suppliers, competitors, customers, partners, and industries that analyzes patterns, trends, and relationships for strategic decision making. ___ manipulates multiple variables, including interest rates, weather conditions, and gas prices. Managers use tools such as Pivot Tables in Excel to find ___ in data. ___ are skills, experience, and expertise coupled with information and intelligence that creates a person's intellectual resources. A ___ is an individual valued for their ability to interpret and analyze information. Imagine that Tony analyzes his data and finds his weakest sales representative for this period is Craig Schultz. If Tony considered only this information, he might conclude that firing Craig was a good business decision. However, because Tony has ___ about how the company operates, he knows Craig has been out on medical leave for several weeks. The ___ department maintains policies, plans, and procedures for the effective management of employees. The ___ department supports sales by planning, pricing, and promoting goods or services. The ___ department performs the function of selling goods or services. The ___ department records, measures, and reports monetary transactions. Successful companies operate ___, integrating the operations of all departments. Management Information Systems ___ are the primary enabler of cross-functional operations. ___ data in MIS comes from the accounting department/ ___ data in MIS comes from the finance department. ___ data in MIS comes from the human resources department. ___ data in MIS comes from the marketing department. ___ data in MIS comes from the operations management department. ___ data in MIS comes from the sales department. ___ are material items or products that customer's will buy to satisfy a want or need. Clothing, groceries, cell phones, and cars are all examples of ___. ___ are tasks performed by people that customers' will buy to satisfy a want or need. Waiting tables, teaching, and cutting hair are all examples of ___. ___ is the process where a business takes raw materials and processes them or converts them into a finished product for its goods or services. ___ is the rate at which goods and services are produced based upon total output given total inputs. The ___ in the process of making a hamburger include the bun, lettuce, tomato, and ketchup. The ___ in the process of making a hamburger include cooking the patty, chopping the lettuce and tomato, and placing all items on the bun. The ___ in the process of making a hamburger include the hamburger. ___ is 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 ___ is information that returns to its original transmitter (input, transform, or output) and modifies the transmitter’s actions. An example of ___ is a car’s system continuously monitors the fuel level and turns on a warning light if the gas level is too low. A ___ is a collection of parts that link to achieve a common purpose Management Information Systems (MIS) ___ is a business function, like accounting and human resources, which moves information about people, products, and processes across the company to facilitate decision-making and problem-solving Is MIS a business function? Chief Information Officer (CIO) The ___ oversees all uses of IT and ensures the strategic alignment of IT with business goals and objectives Chief Knowledge Officer (CKO) The ___ is responsible for collecting, maintaining, and distributing the organization’s knowledge Chief Privacy Officer (CPO) The ___ is responsible for ensuring the ethical and legal use of information.
Some famous CEO's are ___ of Amazon, ___ of GE, ___ of Microsoft, and ___ of Dell. Chief Security Officer (CSO) The ___ are responsible for ensuring the security of IT systems Chief Technology Officer (CTO) The ___ is responsible for ensuring the throughput, speed, accuracy, availability, and reliability of IT ___ is a product or service that an organization’s customers place a greater value on than similar offerings from a competitor ___ occurs when an organization can significantly impact its market share by being first to market with a competitive advantage First-Mover = temp Competitive = perm ___ advantage is temporary, while ___ advantage is more permanent. ___ is the process of gathering information about the competitive environment to improve the company’s ability to succeed One of Porter's Five Forces, ___ is the ability of buyers to affect the price of an item ___ manipulate costs that make customers reluctant to switch to another product. A ___ rewards customers based on the amount of business they do with a particular organization. Buyer power can also be called ___. On of Porter's Five Forces, ___ is the supplier;s ability to influence the prices they charge for supplies. A ___ consists of all parties involved in the procurement of a product or raw material.
If supplier power is high, the supplier can influence the industry by ___ (3). Threat of substitute products or services The ___ is high when there are many alternatives to a product or service and low when there are few alternatives. The ___ is high when it's easy for new competitors to enter a market and low when there are significant entry barriers. An ___ is a feature or a product or service that customers have come to expect and entering competitors must offer the same for survival.
What industries have high entry barriers?
What are 3 industries with low entry barriers? ____ occurs when a company develops unique differences in its products or services with the intent to influence demand
What are Porter's Five Forces?
Organization's must choose 1/3 generic strategies when entering a new market, which are ___. Focused strategies reach a ___ market. Walmart employs a ___ generic strategy. Neiman Marcus employs a ___ generic strategy. A ___ is a standardized set of activities that accomplish a specific task, such as a specific process A ___ views a firm as a series of business processes that each add value to the product or service ___ are when a company separate the it's activities into two categories: 1) primary value activities and 2) support value ___ acquires raw materials and resources, and distributes. ___ transforms raw materials or inputs into goods and services. ___ distributes goods and services to customers. ___ promotes, prices and sells products to customers. ___ provides customer support. ___ purchases inputs such as raw materials, resources, equipment, and supplies. What age are we currently living in when infinite quantities of facts are widely available to anyone who can use a computer quizlet?We live in the information age, when infinite quantities of facts are widely available to anyone who can use a computer. The core drivers of the information age include data, information, business intelligence and knowledge.
What is data that humans in interaction with computers generate?∙ Human-generated data is data that humans, in interaction with computers, generate. Human-generated structured data includes input data, click-stream data, or gaming data.
What is a world where interconnected InternetPredictive analytics is a world where interconnected, Internet-enabled devices or "things" can collect and share data without human intervention.
What are two sources of unstructured data?Unstructured data just happens to be in greater abundance than structured data is. Examples of unstructured data are: Rich media. Media and entertainment data, surveillance data, geo-spatial data, audio, weather data.
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In the ___ age infinite quantities of facts are widely available to anyone who can use a computer.
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