Midterm for Information System Essay

3689 Words Nov 4th, 2012 15 Pages
MIS EXAM - QUESTIONS 1) Developing a new product, fulfilling an order, and hiring a new employee are examples of business processes.
Answer: True False

2) A fully digital firm produces only digital goods or services.
Answer: True False

3) A business model describes how a company produces, delivers, and sells a product or service to create wealth.
Answer: True False

4) Information technology (IT) consists of all the hardware that a firm needs to use in order to achieve its business objectives, whereas information systems consist of all the software and business processes needed.
Answer: True False

5) Computers are only part of an information system.
Answer: True
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B) networked environment.
C) IT infrastructure.
D) information system.
Answer: C 21) From a business perspective, raw data is transformed systematically during various stages, transforming it into valuable information, in a process called
A) the information value chain.
B) the IT value chain.
C) information processing.
D) feedback.
Answer: A 22) The costs for firms operating on a global scale have been drastically reduced by
A) networking technology.
B) investments in organizational complementary assets.
C) the Internet.
D) the rise of digital content.
Answer: C 23) Which of the following are key corporate assets?
A) intellectual property, core competencies, and financial and human assets
B) production technologies and business processes for sales, marketing, and finance
C) knowledge and the firm's tangible assets, such as goods or services
D) time and knowledge
Answer: A 25) Overproduction or underproduction of goods and services, misallocation of resources, and poor response times are the results of a firm's having
A) poor relationships with suppliers.
B) poor relationships with customers.
C) inadequate information.
D) a surplus of information.
Answer: C 25) A firm that must invest in new information systems capabilities in order to comply with federal

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