BUSINESS MANAGEMENT SYSTEMS

When did human resource management (HR) originate?

HR management has existed as along as recorded history

Nearly all BI software platforms have a(n)________ that displays an overview of the data that is presented

dashboard presentation

a key component of how business processes generate value is the concept of division of ___

labor

The strategic use of employees to allow organizations to operate efficiently and gain competitive advantage is referred to as human _____ management

resource

What is conducted in the process design step of business process management?

activities are examined and divided into their individual components

a specific step within a process is called a business

activity

integrating database management systems (DBMS) with predictive analytics, to give managers a recommended course of action is the focus of ____

decision making management information systems

Today's employees expect to be able to go online and see a record of their compensation and make adjustments such as their tax withholding. Twenty years ago they would have planned to meet with their human resources department representative to make such changes. This is one example of how expectations change as advancements in business ________ systems occur.

management

Decision making management information systems became necessary because

the amount of information available far exceeds

LeAnn is implementing a new business management system for her firm. She wants to minimize start-up costs and her business's management system needs are similar to many other organizations. LeAnn wisely chooses a Software-as-a- _______ (SaaS) system.

service

Select three examples of the impact of advancements in business management systems on the expectations of users.

- A manager expects to view changing sales projections from different stores from a computer in her office. - Employees expect to make changes to their tax withholding online. - Students expect to be able to view a syllabus, from any course, at any time from their phone.

Business management systems need three major components in order to provide the services expected by today's managers. These include:

- A predictive information system - A decision-making information system - A database management system (DBMS)

What business management option is used to maximize a sale force's efficiency and effectiveness, managers use

CRM

The software and processes that allow organizations to capitalize on the power of big data and predictive analytics is referred to as business _____ (BI)

Intelligence

The technology and processes used to gain intelligent, usable information from applicable databases across the internet is referred to as _________.

big data analytics

Providing estimates of how accurate the re-ordering point and order quantity levels forecast will be (confidence levels), based on historical trends are examples of the efficiencies associated with today's ______ management systems

inventory

By allowing managers to automate business processes through modeling, analyzing, and improving efficiencies, business ________ management (BPM) systems streamline organizations' activities

process

managers are able to visualize the entire process and see how each activity interacts with other activities and the business process itself during business _______.

process management development

Wesley has decided to implement a new business management system. What are three advantages of using a Software-as-a-Service (SaaS) solution?

- Security concerns are minimized as the SaaS provider undoubtedly has greater resources and expertise in security management than most firms. - They are updated by a third-party that has a major financial incentive in ensuring that the software is in compliance with the latest regulations - A SaaS solution minimizes initial start-up costs

Three categories of HR management systems

- employee evaluation software - compensation management software - employee benefits administration software

Which business management system provides the lowest initial start-up expenses

Software-as-a-service (SaaS)

Which principle of finance states that a dollar in your hand today is worth more than a dollar you will receive in the future because a dollar in hand today can be invested to turn into more money in the future?

TVM (Time Value of Money)

which manager has the role of managing employee grievances, absences, sick days, and paid-time-off days?

HR manager

The use of machinery to assist in employee management began during the late 19th century when time clocks with punch __________ were developed to track employee work hours.

cards

In the second step in business process management, analysts use flow-charts and other tools to depict the workflow, the sequence of operations, and the decision points. This is called the process _______ step

modeling

3 reasons why managers use customer relationship management systems

- to target profitable customers - improve pricing decisions - to customize marketing messages

Calculating re-ordering points and order quantity levels are key advantages of modern ____

Inventory management systems

Which business management system typically begins by collecting customer information such as email, telephone, and social media data, and then combines this with information regarding the customer's buying habits, so that the management team can better anticipate customer desires?

customer relationship management (CRM)