MIS Test One

Two competitive advantage decisions a company can make after completing a value chain analysis

1. target high value adding activities to further enhance their value 2. target low value-adding activities to increase their value

Primary difference between KPIs and CSFs

KPIs are far more specific than CSFs

business analysis tool with purpose- SWOT, five forces model, value chain, three generic strategies

SWOT_ evaluate project position five forces model- evaluate industry attractiveness value chain-executes business strategy three generic strategies-choose business focus

method whereby new problems are solved based on the solutions from similar cases solved in the past

core-based reasoning

broad strategies reach a large market segment, while focused strategies target a niche or unique market with either____ leadership or differentiation

cost

The goal of value chain analysis is to identify processes in which the firm can add value for the customer and create a competitive advantage for itself, with a ________ or ________________.

cost advantage, product differentiation

According to Porter companies that wish to dominate broad markets should operate using a ________ strategy.

cost leadership with a low cost

________-facing processes result in a product or service received by an organization's external customer

customer

what results in a product or service received by an organization's external customer

customer-facing processes

the internet of thing is a world where interconnected, internet enabled devices or "things" can collect and share_____ without human intervention

data

what is the large part of the internet that is inaccessible to conventional search engines

deep web

what enables users to view details, and details of details, of information

drill-down

two unstructured decisions

entering a new market, entering a new industry

a feature of a product or service that customers have come to expect and entering competitors must also offer is an

entry barrier

three steps to improve business processes

establish measures, follow process, document as-is process

BPMN _______ is anything that happens during the course of a business process

event

what consists of anything that can be documented, archived, and codified, often with the help of MIS

explicit knowledge

three purposes of a business process model

focus attention on the process model interfaces, encourage conciseness and accuracy in describing the process model, expose process detail gradually and in a controlled manner

BPMN _____ is used to control the flow of a process

gateway

_______ algorithm is an artificial intelligence system that mimics the evolutionary, survival-of-the-fittest process to generate increasingly better solutions to a problem

genetic

what uses technology allowing humans to interact with a computer through bodily sensations and movements-for example, a cell phone vibrating in your pockets

haptic interface

what function does feedback serve within a system

helps maintain stability

chart or graph that presents grouped data with rectangular bars with lengths proportional to the values they represent

histogram

select 3 goals or objectives that a leadership plan might include to achieve a solid business strategy

increasing sales, attracting new customers, decreasing costs

two names for the assets that reside within the minds of members, customers, and colleagues and include physical structures and recorded media

intellectual capital, knowledge assets

_____ systems are various commercial applications of artificial intelligence

intelligent

knowledge facilitators help acquire and catalog the _______ in the organization

knowledge assets

who helps harness the wealth of knowledge in the organization

knowledge facilitators

what supports the capturing, organization, and dissemination of knowledge

knowledge management system

three features of a neural network

lending themselves to massive parallel processing, coping with huge volumes of information with many dependent variables, learning and adjusting to new circumstances on their own

three things a supplier can do to influence an industry if it has high supplier power

limit quality or services, charge higher prices, shift costs to industry participants

what is a type of artificial intelligence that enables computers to both understand concepts in the environment and also to learn

machine learning

at what level are employees continuously evaluating company operations to hone the firm's abilities to identify, adapt to, and leverage change

managerial

what are semi dynamic, semi routine, monthly business processes such as resource allocation, sales strategy, or manufacturing process improvements

managerial business processes

four challenges facing ebusiness

managing consumer trust, adhering to taxation rules, ensuring consumer protection, identifying limited market segments

examples of dynamic processes

managing layoff of employees, canceling business travel due to extreme weather, changing order levels based on currency rates

what are WYSIWYG tools

mashup editors

what are measurements that evaluate results to determine whether a project is meeting its goals

metrics

three characteristics of managerial decisions

middle management and director employee types, short term/daily/monthly, semistructured

online marketing concept in which the advertiser attempts to gain attention by providing content in the context of the user's experience

native advertising

three types of clickstream data metrics

number of abandoned registrations, demographics of registered visitors, length of stay on the website

at what level do employees develop, control, and maintain core business activities required to run the day-to-day operation

operational

combines art alone with science to determine how to make URLs more attractive to search engines resulting in higher search engine ranking

optimization

what is a common type of transaction processing system

order entry system

customer facing process

order processing, customer service, sales process, customer billing, order shipping

expert systems neural network genetic algorithm intelligent agents

playing chess credit card companies checking for fraud investment companies in trading decisions environmental scanning and competitive intelligence

what type of analytics takes past purchasing data as inputs into a model that recommends the best pricing strategy across all flights allowing an airline company to maximize revenue

prescriptive analytics

what uses techniques that create models indication the best decision to make or course of action to take

prescriptive analytics

which company used business process reengineering to create a competitive advantage

progressive insurance

business process _____ is the analysis and redesign of workflow within and between enterprises

reengineering

what are critical success factors

retain competitive advantages, reduce product costs, create high-quality products

what is a component of web 3.0 that describes things in a way that computers can understand

semantic web

what stimulates human thinking and behavior, such as the ability to reason and learn

artificial intelligence

what allows a business to generate commissions or referral fees when a customer visiting its website clicks on a link to another merchant's website

associate program

what are key performance indicators

average customer spending, number of new customers, turnover rate of employees

four pressure that Porter identified as potential challenges to the profitability of a company

1. new markets entrants can steal investment capital, substitute products can steal customers, competition can steal customers, influential suppliers can drive down profits by charging higher prices for suppliers

in BPMN notation, what displays the path in which the process flows

BPMN flows

who is responsible for overseeing all uses of MIS and ensuring that MIS strategically aligns with business goals and objectives

CIO (chief information officer)

Two types of DSS systems

a system to diagnose and treat patients, a system that identifies risks for insurance companies

the process of collecting, analyzing and reporting aggregate data about which pages a website visits-and in what order

clickstream analytics

department records, measures, and reports monetary transactions

accounting

BPMN ______ is anything that happens during the course of a business practice

activity

what is the science of fact-based decision making

analytics

program that runs within another application such as a website

applet

three business 2.0 communication and collaboration tools

blog, mashup wiki

occurs when resources reach full capacity and cannot handle any additional demands; they limit throughput and impede operations

bottlenecks

online marketplace

bring together buyers and sellers of products and services

select the three generic business strategies that Porter identified for entering a new market

broad cost leadership, broad differentiation, focused strategy

How will a business estimate the impact on profits from increases or decreases in costs

by manipulating variables

Examples of static processes

calculating taxes, payroll, creating financial statements

example of a semistructured decision

changing employee benefits

the person responsible for ensuring the ethical and legal use of information within a company is the

chief privacy officer

the person responsible for ensuring the security of business systems and developing strategies and safeguards against attacks by hackers and viruses is the

chief security officer

two sources that represent machine-generated data

sensor data, point-of-sale data

Factors that are used to assess buyer power

size of orders, number of customers, sensitivity to price

______ is the ability to look at information from different perspectives

slice-and-dice

interconnection of relationships in a social network

social graphs

what are two sources of unstructured data

social media data and satellite images

what maps group contracts identifying who knows each other and who works together

social networking analysis

_____ decisions involve higher level issues concerned with the overall direction of the organization;these decisions define the organizations overall goals and aspirations for the future

strategic

at what level do managers develop overall business strategies, goals, objectives as part of the company's strategic plan

strategic

what are dynamic, non routine, long-term business processes such as financial planning, expansion strategies, and stakeholder interactions

strategic business processes

what improves business efficiencies by simplifying or eliminating unnecessary steps

streamlining

A (n) ________ lane layout arranges the steps of a business process into a set of rows depicting the various elements

swim

web format used to publish frequently updated works, such as blogs, news headlines, audio, and video, in a standardized format

syndication

what drives an end-to-end view of how operations work together to create a product or service

systems thinking

select two support value activities

technology development and firm infrastructure

______ is a massive network that connects computers all over the world and allows them to communicate with one another

the internet

three interactivity measurements

time spent viewing the ad, number of pages viewed, number of repeat visits to an ad

a _____ processing system is the basic business system that serves the operational level and assists in making structured decisions

transaction

_____ data encompasses all raw facts contained within a single process and its purpose is to support daily operational tasks

transactional

four characteristics of web 2.0

user-contributed content, collaboration inside the org, collaboration outside the org, content sharing through open sourcing

website ebusiness analytics

uses clickstream data to determine the effectiveness of the site as a channel-to-market

three challenges of business 2.0

violations of copyright and plagiarism, technology dependence, information vandalism

terms representing the next generation of internet use

web 2.0, business 2.0

two terms that blends videoconferencing with document sharing and allows user to deliver a presentation over the web to a group of geographically dispersed participants

web conferencing, webinar

disintermediation

when a business sells directly to the customer online and cuts out the intermediary

a ______ is a type of collaborative web page that allows users to add, remove, and change content, which can easily be organized and reorganized as required

wiki