Info System chapter 1 – Flashcards
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Why do students need to study information technology
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it is everywhere you go in business and organizations.
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What is data?
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Raw facts, such as an employee number, total hours worked in a week, inventory part numbers, or sales orders
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What is business intelligence
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information collected from multiple sources such as suppliers customers competitors partners and industries that analyzes patterns trends and relationships for decision making
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Which of the following represents the core drivers of the information age?
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Data, Information, Business Intelligence, Knowledge.
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Which of the following is typically performed by the sales or marketing department
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Maintain transactional data.
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Which four elements are included in systems thinking
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Input, Process, Output, and Feedback. IPOF
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Who is responsible for ensuring the ethical and legal use of information within a company
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CPO Chief Privacy Officer
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Which of the following is a tool a manager can use to analyze competitive intelligence and identify competitive advantages?
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The three generic strategies
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What is a competitive advantage?
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feature of a product or service on which customers place a greater value than they do on similar offerings from competitors.
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What are costs that make customers reluctant to switch to another product or service?
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Switching costs
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In the center of Porter's Five Forces model is competition. Which of the below represents the four outer boxes?
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Buyer power, supplier power, threat of new entrants, and threat of substitute products or services
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When buyer power is low, supplier power is typically ______.
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High
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Which one of Porter's Five Forces is high when it is easy for new competitors to enter a market and low when there are significant entry barriers to joining a market?
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Threat of new entrants.
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Which of the following analyzes a company's business processes and is useful for determining how to create the greatest possible value for customers?
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Value chain analysis.
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What is a standardized set of activities that accomplishes a specific task?
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Business process
