Mis 309 Chapter 1

Front 1

The confirmation or validation of an event or object

Back 1

Fact

Front 2

Raw facts that describe the characteristics of an event or object

Back 2

Data

Front 3

Data converted into a meaningful and useful context

Back 3

Information

Front 4

Information collected from multiple sources such as suppliers, customers, competitors, partners, and industries that analyzes patterns, trends, and relationships for strategic decision making

Back 4

Business Intelligence

Front 5

manipulates multiple variables and in some cases even hundreds of variables such as
Interest rates
Weather conditions
Gas prices

Back 5

Business Intelligence

Front 6

Skills, experience, and expertise coupled with information and intelligence that creates a person’s intellectual resources

Back 6

Knowledge

Front 7

Individual valued for their ability to interpret and analyze information

Back 7

Knowledge worker

Front 8

Which department maintains policies, plans, and procedures for the effective management of employees?

Back 8

Human resources

Front 9

Which department performs the function of selling goods and services?

Back 9

Sales department

Front 10

which department supports sales by planning, pricing, and promoting goods and services?

Back 10

Marketing

Front 11

Which department records, measures, and reports monetary transactions?

Back 11

Accounting

Front 12

A way of monitoring the entire system by viewing multiple inputs being processed or transformed to produce outputs while continuously gathering feedback on each part

Back 12

Systems thinking

Front 13

A business function, like accounting and human resources, which moves information about people, products, and processes across the company to facilitate decision-making and problem-solving

Back 13

MIS

Front 14

Oversees all uses of IT and ensures the strategic alignment of IT with business goals and objectives

Back 14

Chief Information Officer (CIO)

Front 15

CIO

Back 15

Chief information officer

Front 16

Responsible for collecting, maintaining, and distributing the organization’s knowledge

Back 16

Chief knowledge officer (CKO)

Front 17

Responsible for ensuring the ethical and legal use of information

Back 17

Chief privacy officer (CPO)

Front 18

oversees all uses of IT and ensures the strategic alignment of IT with business goals and objectives

Back 18

CIO

Front 19

is one of the most recent positions added to the executive leadership team

Back 19

CKO

Front 20

are the newest senior executive position, and many are lawyers by training

Back 20

CPO

Front 21

CPO

Back 21

Chief privacy officer

Front 22

CKO

Back 22

Chief knowledge officer

Front 23

Responsible for ensuring the security of IT systems

Back 23

CSO - chief security officer

Front 24

Responsible for ensuring the throughput, speed, accuracy, availability, and reliability of IT

Back 24

CTO - Chief technology officer

Front 25

are similar to CIOs, except CIOs take on the additional responsibility for effectiveness of ensuring that IT is aligned with the organization's strategic initiatives; ensures the efficiency of IT

Back 25

CTOs

Front 26

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

Back 26

Business strategy

Front 27

A product or service that an organization’s customers place a greater value on than similar offerings from a competitor

Back 27

Competitive advantage

Front 28

occurs when an organization can significantly impact its market share by being first to market with a competitive advantage

Back 28

First-mover advantage

Front 29

The process of gathering information about the competitive environment to improve the company’s ability to succeed

Back 29

Competitive intelligence

Front 30

Porter’s Five Forces Model
Porter’s Three Generic Strategies
Porter’s Value Chain Analysis

these are tools of what?

Back 30

Competitive intelligence tools

Front 31

the acquisition and analysis of events and trends in the environment external to an organization

Back 31

Environmental scanning

Front 32

Porter's Five Forces Model - what are the five forces?

Back 32

1. Buyer power
2. Supplier power
3. Threat of new entrants
4. Threat of substitutes
5. Competitive environment - current rivalry among competitors

Front 33

the power of customers to drive down prices

Back 33

Buyer power

Front 34

the power of competitors to enter a market

Back 34

threat of new entrants

Front 35

the power of suppliers to drive up prices of materials

Back 35

supplier power

Front 36

the power of customers to purchase alternatives

Back 36

Threat of substitute products or services

Front 37

the power of competitors

Back 37

rivalry amongst competitors

Front 38

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

Back 38

Business strategy

Front 39

Rewards customers based on the amount of business they do with a particular organization

Back 39

Loyalty program

Front 40

Manipulating costs that make customers reluctant to switch to another product

Back 40

Switching cost

Front 41

Consists of all parties involved in the procurement of a product or raw material

Back 41

supply chain

Front 42

Substitute vs. rivalry - what would be a substitute for Starbuck's coffee?

Back 42

Jamba Juice
Tea House

(other beverages besides coffee)

Front 43

Substitute vs. rivalry - what would be a rival for Starbuck's coffee?

Back 43

Dunkin' Donuts coffee
High Point coffee

Front 44

A feature of a product or service that customers have come to expect and entering competitors must offer the same for survival

Back 44

Entry barrier

Front 45

Occurs when a company develops unique differences in its products or services with the intent to influence demand

Back 45

Product differentiation

Front 46

Porter's Three Generic Strategies

Back 46

1. Cost Leadership
2. Differentitation
3. Focused strategy

Front 47

A standardized set of activities that accomplish a specific task, such as a specific process

Back 47

Business process

Front 48

Views a firm as a series of business processes that each add value to the product or service

Back 48

Value chain analysis

Front 49

5 Primary value activities

Back 49

1. Inbound logistics
2. Operations
3. Outbound logistics
4. Marketing and Sales
5. Service

Front 50

Acquires raw materials and resources

Back 50

Inbound logistics

Front 51

transforms raw materials or inputs into goods and services

Back 51

Operations

Front 52

distributes goods and services to customers

Back 52

Outbound logistics

Front 53

promotes, prices, and sells products to customers

Back 53

Marketing and sales

Front 54

provides customer support

Back 54

Service

Front 55

1. firm infrastructure
2. human resource management
3. technology development

Back 55

Support value activities