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California State University Los AngelesBUS 5027BIS Midterm

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Chapter 1 What is abstract reasoning and systems thinking? Give an example for each.  abstract reasoning – the ability to analyze information and think creatively to develop and manipulate a m... odel or representation a problem, object or an idea. Identify problem and find components  ST– the ability to divide a problem or phenomenon into smaller components and understand the relationships, associations, and interactions among those components to help explain the problem or phenomenon. Find input and output, think about input to fulfillment, how to mold AR into system. Cut into pieces and solve the problem. Divide and conquer. Explain the meaning of collaboration and experimentation with the help of examples.  What makes collaboration successful: critical feedback acceptance, good listener, open mind.  Experimentation: reasonable analysis then experimentation Define management information systems. What are processes, information systems, and information?  MIS- management of processes, information systems, and information Management information systems, or MIS, is the management and use of processes, information systems, and information to help organizations achieve their strategies.  How: use data in real time to support strategic decisions for the system, Remember always have to keep learning, new technology and utilize for business. How does MIS help organizations achieve their strategies?  Determines IS structure, IS features, Functions/Processes, How does MIS relate to organizational strategy?  Business strategies determine IS Briefly describe Porter's five forces model.  – a model developed by Michael Porter that is used to assess an industry structure. The model identifies five competitive forces that determine profitability: threat of substitutes, threat of new entrants, existing rivals, bargaining power of suppliers, and bargaining power of customers. What are the different competitive strategies according to Porter's model?  Competitive strategy – the strategy by which an organization tries to attract customers, makes profits, and differentiates itself from its industry competitors. (In Book) What are the primary activities in the value chain?  Primary Activities – the five activities in the value chain that contribute directly to improving the competitive advantage of a business. These activities are: inbound logistics, operations/manufacturing, outbound logistics, sales and marketing, and customer service. What are the support activities of a value chain?  Support Activities – the four value chain activities that support the five primary activities. Support activities consist of: Procurement, Technology, Human Resources, and Firm Infrastructure. [Show More]

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