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MIS Ch.2

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Managerial Decision-making
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1) Managers need to analyze large amounts of information 2) Managers mud make decisions quickly 3) Managers must apply sophisticated analysis techniques to make strategic decisions
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Decision making process
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problem identification, data collection, solution generation, solution test, solution selection, solution implementation
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Common company structure
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Strategic Managerial Operational
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Operational level
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Employees develop, control, and maintain core business activities required to run the day to day operations (internal/functional, structures, short term, information)
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Managerial level
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Employees are continuously evaluation company operations to hone the firm’s abilities to identify, adapt to, and leverage change (Internal/cross-functional, daily/monthly/yearly, semistructured, business intel)
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Strategic level
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Managers develop overall business strategies, goals, and objectives as part of the company’s strategic plan (Long term, Unstructured, knowledge)
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Project
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Temporary activity a company undertakes to create a unique product, service, or result
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Metrics
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Measurements that evaluate results to determine whether a project s meeting its goals
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Critical success factors (CSFs)
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Crucial steps companies perform to achieve their goals and objectives and implement their strategies
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Key performance indicators
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the quantifiable metrics a company uses to evaluate progress toward critical success factors
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Efficiency MIS metrics
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MEasures performance of MIS itself (throughput, transaction speed, system availability, info accuracy, response time)
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Effectiveness MIS metrics
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Measure impact MIS has of business processes and activities (Usability, customer satisfaction, conversion rates, financial)
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Benchmarks
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Baseline values the system seeks to attain
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Benchmarking
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A process of continuously measuring system results, comparing those results to optimal system performance, and identifying steps and procedures to improve system performance
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Online Transaction Processing (OLTP)
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Basic business system that serves the operational level and assists in making structured decisions; operational support
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Transaction Processing system (TPS)
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Capturing of transaction and event information using technology to process, store, and update; operational support
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Source documents
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The original transaction record; operational support
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Online Analytical Processing (OLAP)
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Manipulation of information to create business intelligence in support of strategic decision making; Managerial support
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Decision Support systems(DSS)
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Models information to support managers and business professionals during the decision-making process; Managerial support
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Executive information system (EIS)
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A specialized DSS that supports senior level executives within the organization; Granularity, Visualization, digital dashboard; strategic
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Granularity
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The level of detail in the model or the decision making process
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Visualization
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Produced graphical displays of patterns and complex relationships in large amounts of data
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Digital dashboard
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Tracks KPIs and CSFd by compiling information from multiple sources and tailoring it to meet user needs
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Artificial intelligence (AI)
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stimulates human thinking and behavior
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Expert System
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Computerized advisory programs that imitate the reasoning processes of experts in solving difficult problems
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Intelligent agent
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Special-purpose knowledge-based information system that accomplishes specific tasks on behalf of its users
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Virtual reality
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A computer-simulated environment that can be a simulation of the real world or an imaginary world
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Neural Network
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Attempts to emulate the way the human brain works
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Generic algorithm
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An artificial intelligent system that mimics the evolutionary, survival-of-the-fittest process to generate increasingly better solutions to a problem
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Model
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A simplified representation/abstraction of reality
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Customer facing process
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Results in a product/service that is received by an organizations external customer
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Business facing process
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Invisible to the external customer but essential to the effective management of the business
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Business Process modeling
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The activity of creating a detailed flow chart/process map of a work process showing its inputs, tasks, and activities, in a structured sequence
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Business Process model
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A graphic description of a process, showing the sequence of process tasks, which is developed for a specific purpose and from a selected viewpoint; as-is process model and to-be process model
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As-is process model
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Represents the current state of the operation that has been mapped, w/o any specific improvements/changes to existing processes
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To-be process model
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Shoe results of applying change improvement opportunities to the current as-is process model
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Workflow
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Includes the tasks, activities, and responsibilities required to execute each step in a business process
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Automation
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Improves operational business; Process of computerizing manual tasks, making them more efficient and effective and dramatically lowering operational costs
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Business Process improvement
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Improves Operations; Attempts to understand and measure the current process and make performance improvements accordingly
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Streamlining
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Improves managerial; simplifying/eliminating unnecessary steps
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Bottleneck
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Improves managerial; Occurs when resources reach full capacity and cannot handle any additional demands
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Redundancy
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Improves managerial; Task.activity is unnecessarily repeated
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Business process reengineering (BPR)
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Improves Strategic; Analysis and redesign of workflow within and between enterprises
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Business process management
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Future; focuses on evaluating and improving processes that include both person to person workflow and system to system communications