MGT 300
What results from a greater flow of information and knowledge among functions and divisions?
A company's knowledge and expertise is developed. More learning can take place.
What is it called when two or more companies who share similar interests enter into a formal agreement to exchange resources in order to produce or market a product?
A strategic alliance
In what capacity do managers use the results of decision support systems?
As an aid to decision making
In order for large companies to function successfully in a global economy, they form a series of formal global strategic alliances with suppliers, manufacturers, and distributors to produce and market a product in a ______ network structure.
B2B
The trading platform used to connect business buyers and business sellers is the ______ marketplace.
B2B
Participating in a(n) ______ means that companies are willing to be part of an Internet-based trading platform that connects them as buyers and or sellers within their industry.
B2B marketplace
Demand for a product starts to fall
Decline stage
What happens during the growth stage in the product life cycle?
Demand for the product increases markedly.
A product has yet to gain widespread acceptance
Embryonic stage
The acronym ERP stands for ______.
Enterprise Resource Planning
True or false: A disadvantage of knowledge management systems is consultants cannot gain access to them because they are company-specific virtual information systems.
False
Many consumers are entering the market and buying the product for the first time, and demand increases rapidly
Growth stage
ERP systems do the following:
Help each individual function improve its functional-level skills Improve integration among all functions so they work together to build a competitive advantage
How does a product's life cycle change over time?
It changes in a predictable pattern.
Begins when market demand peaks because most customers have already bought the product
Maturity stage
What are the two important advantages that the network structure gives Nike?
Nike can quickly respond to changes in sports shoe fashion Low costs because wages in Southeast Asia are lower than in the United States
What is the result of a successful B2B network structure?
Reduced costs and increased quality of products
What are considered drawbacks of hierarchies, the traditional information system?
The "tall" resulting organizational structure can make the hierarchy an expensive management information system. When an organization has many layers of management, it takes a long time for information to flow up and down the hierarchy.
How do virtual, company-specific knowledge management systems benefit employees and their organizations through real-time information technology?
They systematize knowledge and foster sharing of knowledge among those with the same expertise.
Increasing globalization and the use of new IT have brought about strategic alliances and B2B network structures that are sweeping through ______ companies.
U.S. European
A decision support system gives managers:
a chance to manipulate information in a variety of ways. model-building capability.
Rapid advances in IT have been associated with:
a move toward horizontal information flows within organizations. the concept of the boundaryless organization. a move toward greater decentralization.
Nike utilized their growing technological network by storing all design and manufacturing information electronically, which allows designers and manufacturers to ______.
access information quickly
Reliability and ______ determine the quality of ______.
accuracy; information
The B2B network structure has made it easier to:
allow managers to share information. manage strategic alliances.
An strategic alliance is a commitment between two or more companies who believe that this formal agreement will ______.
allow them to exchange or share resources in order to produce and market a product
With a decision support system, managers could run models and use the results as ______.
an aid to decision making
The maturity phase occurs when the customers ______.
are replacing older versions of the product
Behavior performed by a machine that, if performed by a human being, would be called "intelligent" is ________.
artificial intelligence
Behavior performed by a machine that, if performed by a human, would be called "intelligent" is known as ______.
artificial intelligence
An organization whose members are linked by computers, faxes, computer-aided design systems, and video teleconferencing and who rarely, if ever, see one another face-to-face is a ______ organization.
boundaryless
When businesses transact with each other through information technology they are engaging in ______ electronic commerce.
business-to-business
Knowledge management systems are designed for internal use; that is, they are a ______-specific virtual information system.
company
The greater the flow of information and the more knowledge and expertise that has developed within an organization, the better the chances are that the organization will have a ______.
competitive advantage
The four principal tasks of management are planning, organizing, and
controlling leading
Real-time information reflects ______ conditions.
current
Facts that are raw, unsummarized, or unanalyzed are defined as ______; when organized in a meaningful way, these facts become useful ______.
data;information
To help managers decide whether to cut prices for a product, they might use a(n) ______ support system.
decision
An interactive computer-based management information system, with model building capability, that managers can use when they must make nonroutine decisions is known as a(n) ______ system.
decision support
A(n) ______ system provides computer-built models that help managers make better nonprogrammed decision.
decision support system
Rapid advances in IT are associated with the ______ of the organizational hierarchy.
delayering
Nike uses a B2B network structure in the ______ of their shoes.
design production
To produce and market a product, the B2B network structure is a series of IT-supported strategic alliances that an organization creates with:
distributors. suppliers. manufacturers.
To achieve organizational goals, another basic task of management is coordinating:
divisional activities departmental activities
When IT is used by companies to trade with other companies, and when customers use the Internet to purchase goods or services, this is called ______.
e-commerce
Increasing globalization and the use of new IT have resulted in:
electronically managed strategic alliances. B2B network structures.
The stage in the product life cycle in which the product has yet to gain widespread acceptance is called the ______.
embryonic stage
The role of the ______ is to move the product from the initial design to product delivery to the customer.
enterprise resource planning system
A management information system that applies human knowledge, embedded in computer software, to solve problems that ordinarily require human expertise is an _____.
expert system
By reducing the need for hierarchy, modern IT can directly increase an organization's efficiency because ______.
fewer employees are required
The goal of a B2B marketplace is to connect buyers and sellers by adopting a common software tool with the end result being that they can ______.
find ways to improve quality
The most common network arrangement, consisting of PDAs, laptops, client servers, and mainframes, is part of a ______ network system.
four-tier
Management information technology is information technology that has been ______.
generated using specific information that managers select in order to perform their jobs effectively
Advancing IT allows companies to ______.
improve responsiveness to customers
E-commerce encompasses using information technology for businesses to do business with other companies, and businesses to do business with ______.
individuals
In order to achieve a high level of coordination between departmental and divisional activities, managers use IT systems to gather and process quality ______.
information
The length of a product's life cycle is shortening as a result of advances in ______.
information technology
The set of methods for accessing, acquiring, organizing, transmitting, exchanging, and storing information is ______.
information technology
To make effective decisions, managers need information from:
insides the organization external stakeholders
IT strategic alliances are formed when companies believe both can benefit from cooperating and sharing similar ______.
interests
To solve a problem, there are three requirements of an expert system: (1) it must recognize, formulate, and solve a problem; (2) it must explain the solution; and (3) ______.
it must learn from experience
Examples of artificial intelligence that solve problems and that can perform simple managerial tasks are:
knowbots softbots
A company-specific virtual information system that systematizes the expertise of its employees and facilitates the sharing and integrating of their expertise is a(n) ______ system.
knowledge management
Systems that enable employees to share their knowledge and expertise and provide them with virtual access to other employees with expertise to help solve problems, are ______ systems.
knowledge management
The four principal tasks of management are planning, organizing, and:
leading controlling
IT affects the ______ of a product's life cycle.
length
Information technology affects the ______ of the product life cycle.
length
The demand for a product changes in a predictable pattern over a period of time; this is referred to as a product's ______ cycle.li
life
The predictable pattern over time that defines the way demand for a product changes is known as the product ______.
life cycle
The most successful companies today are trying to simultaneously pursue ______ and ______ strategies.
low-cost; differentiation
Information technology systems that are specific to managers' needs in order to provide the information they need to acquire, share, organize, and manipulate is referred to as ______.
management information systems (MIS)
Planning, organizing, leading, and controlling are the four principal ______ tasks.
managerial
The exchange of information through a group of interlinked computers is a(n) ______.
network
A drawback of some hierarchical information systems can be the distortion of information as it moves from ______.
one layer to the next
The system that typically accesses data gathered by a transaction-processing system, and processes and organizes the data into useful information for managers to review is a(n) ______ system.
operations
The MIS that gathers, organizes, and summarizes comprehensive data into a form that managers can use in their nonroutine coordinating, controlling, and decision-making tasks is a(n) ______ system.
operations information
A managers' ability to make effective decisions rests on their ability to:
process information acquire information
ERP systems are software packages that allow a company to link and coordinate the entire set of functional activities to move products from ______
product design to the customer
ERP systems are software packages that allow a company to link and coordinate the entire set of functional activities to move products from ______.
product design to the customer
The factors that determine the usefulness of information to a manager are:
quality timeliness relevance completeness
When sales numbers have been gathered, but have not yet been analyzed, the numbers are, for the time being, ______.
raw data
The university's planned expansion was put on hold for another month due to some possible environmental concerns that had been discovered. The administration's decisions were based on ______ information that was coming to them on a week-to week basis
real-time timely
The university's planned expansion was put on hold for another month due to some possible environmental concerns that had been discovered. The administration's decisions were based on ______ information that was coming to them on a week-to week basis.
real-time timely
The quality of information is determined by:
reliability accuracy
The value of strategic alliances between companies is ______.
sharing resources in order to produce and market a product
An agreement in which managers pool or share their organization's resources and know-how with a foreign company, and the two organizations share the rewards and risks of starting a new venture is a ______ alliance.
strategic
The B2B network structure is a series of global ______ alliances.
strategic
Some of the attributes of a boundaryless organization are:
the members are linked by computers and video teleconferencing. the members rarely, if ever, see one another face-to-face.
How is information exchanged from computer to computer and to phones, mainframes, and laptops?
through a network
Modern IT has become a central part of an organization's structure by improving the ability of managers:
to coordinate activities. to make more effective decisions.
Most managers in large organizations use a system to handle tasks such as payroll preparation and payment and customer billing. This is typically a ______ system.
transaction-processing
The information gathered from the ______ system is often used for the operations information system, where it is then organized into useful information for managers to use.
transaction-processing
The system that was designed in the 1960s and was the first type of computer-based IT adopted by many organizations was the ______ system.
transaction-processing
True or false. Artificial intelligence has made it possible to write programs that can solve simple problems.
true
True or false: An operations information system is a management information system that gathers, organizes, and summarizes vast amounts of data that can be provided to managers in an accessible fashion.
true
E-commerce is trade that takes place between:
two companies. companies and individual customers.
Advances in IT have enabled managers to
use information in more effective ways make significant leaps in the way they can collect more timely, complete, relevant, and high-quality information.
The four factors of quality, timeliness, completeness, and relevance help determine the ______ to a manager.
usefulness of information
The goal of the B2B marketplace includes:
using Internet-based trading platforms to connect buyers and sellers. adopting a common software standard to allow companies to work together, over time. finding ways to reduce costs.
A company that has an online reporting structure, assignments distributed electronically, and employees and managers linked via a centralized database is referred to as a(n)______ organization.
virtual
