Executive information system - Ans-A system that facilitates and supports senior managerial
decisions.
Data - Ans-Unorganized data that lacks meaning.
Information - Ans-Data that has been organized in a meaningful man
...
Executive information system - Ans-A system that facilitates and supports senior managerial
decisions.
Data - Ans-Unorganized data that lacks meaning.
Information - Ans-Data that has been organized in a meaningful manner.
Information system - Ans-An integrated network of components working together to convert
data into useful information; includes an input, a process, and an output; comprised of people,
processes, machines, and information technology.
Knowledge - Ans-The practical application of information.
Data, Information, and Knowledge example - Ans-Data: The number of people below the
poverty line in the region is 50,000.
Information: The number of people below the poverty line increases between 2010 and 2018.
Knowledge: The number of people below the poverty line has increased due to stagnating
wages and cuts to social programs.
Decision support system - Ans-This system uses models and statistical analysis to help decision
makers solve problems
Management information system (MIS) - Ans-Provides timely and accurate information that
enables managers to manage their departments more efficiently; analyzes performance.
Transaction processing system - Ans-information system used for processing patient admissions,
employee time cards, and purchase orders
Information management - Ans-The management of organizational processes and systems;
helps the organization reduce costs and adds value to products; helps the organization make
better managerial decisions; stores and processes data.
Information technology - Ans-The use of computer and telecommunications systems for storing,
retrieving, and sending information; comprised of hardware, software, data, and networks.
information technology management - Ans-the management of hardware, software, data,
networks, and people that facilitate access to information and allow the organization to achieve
business objectives.Strategic information system - Ans-provide tools used by an organization to accomplish specific
tasks to gain competitive advantage.
Social Networking and interpersonal skills. - Ans-Enhances interpersonal and relationshipforming skills.
Porters 5 competitive forces - Ans-Intensity competitive rivalry
bargaining power of customers
bargaining power of suppliers
threat of new entrants
threat of substitutes
Network economics (network-based strategy) - Ans-the cost of adding another business
participant to a business venture is small, the potential gain is great.
Business ecosystems - Ans-Network of businesses involved in delivering a product through
mutual cooperation.
Product differentiation (business strategy) - Ans-offering a higher quality product to
differentiate from others in the market
growth (business strategy) - Ans-adding new products or new enhancements to existing
products
Enterprise Resource Planning (ERP) - Ans-Involves utilizing computer technology to link various
aspects of a business; a very complex resource planning system that spans the entire business;
companies often have difficulty implementing the system.
Customer Relationship Management (CRM) - Ans-Allows for personalized communication to
customers.
Knowledge Management (KM) - Ans-These systems provide tools to help manage organizational
knowledge and create value to meet business requirements and strategic goals.
chief executive officer (CEO) - Ans-also called president or managing director, is responsible for
the success or failure of the company, creating the company culture, selecting the senior
management team, setting strategy and vision, and selecting projects to fund.
chief operations officer (COO) - Ans-is the director of operations, responsible for the oversight of
internal operations on a day-to-day basis and for monitoring production quotas
chief financial officer (CFO) - Ans-manages the company's cash flow and evaluates and
communicates financial risks.
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