MIS 3000- Ex 1 Ch 1 PDF

Preview

Summary

MIS 3000- Ex 1 Ch 1...

Description

MIS 3000 Fall 20, Ex 1 (due Friday, 9/11/2020 via Moodle)

Name: Alexandra Popa

Instructions: This is a take-home, individual exercise. (10 points; 15 blanks). Please fill in the most appropriate answer, based on the textbook or class PPTs, for each of the following questions or statements. Chapter 1 1. A system is a set of interrelated parts that work together to accomplish a goal. It performs three basic functions: input, processing, and output. 2. The core drivers of the information age include data, information, business intelligence, and knowledge. 3. Machine-to-machine (M2M) refers to devices that connect directly to other devices. 4. Business analytics is the scientific process of transforming data into insight for making better decisions. 5. Descriptive analytics is a technique that describes past performance and history. 6. Knowledge assets, also called intellectual capital, are the human, structural, and recorded resources available to the organization. 7. Big data is a collection of large complex data sets, including structured and unstructured, which cannot be analyzed using traditional database methods and tools. 8. Chief knowledge officer (CKO) is responsible for collecting, maintaining, and distributing company knowledge. 9. Services are tasks performed by people that customers will buy to satisfy a want or need. 10. Business strategy is a leadership plan that achieves a specific set of goals or objectives such as developing new products or services, entering new markets, increasing customer loyalty, attracting new customers, increasing sales, and decreasing costs. 11. SWOT analysis evaluates an organization's strengths, weaknesses, opportunities, and threats to identify significant influences that work for or against business strategies. 12. Porter has identified three generic business strategies for entering a new market: 1) broad cost leadership, 2) broad differentiation, and 3) focused strategy. 13. In Porter’s five forces analysis model, the forces include: buyer power, supplier power, threat of substitute products/services, threat of new entrants, and rivalry among existing competitors. 14. When an airline company initiates a frequent-flyer program, the company tries to reduce its buyer or customer power. 15. Primary value activities in a value chain include receive and store raw materials, make the product or service, deliver the product or service, market and sell the product or service, and service after the sale....