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BUS 303 Saylor QUESTIONS & ANSWERS 2024/2025 ( A+ GRADED 100% VERIFIED)
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BUS 303 Saylor QUESTIONS & ANSWERS 2024/2025 ( A+ GRADED 100% VERIFIED)
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BUS 303 Saylor1. Information System: An integrated and cooperating set of software
directed information technologies
supporting individual, group, organizational, or societal goals.
2. SWOT: An organization's strengths, weaknesses, opportunities,
and threats. Used to evaluate their business strategy.
3. Effectiveness: "Doing the right thing" A more effective firm can
make better decisions and carry them out more successfully.
4. Efficiency: "Doing things right". Less input effort but same output,
or same amount of input effort producing more output.
5.Fifth Wave: The current state in time where computers are so fast and
so inexpen- sive that they have become ubiquitous—woven into
products in ways few imagined years before.
6. Information Technology: Hardware, software and telecommunication
,equip- ment that is used to capture, process, store
and distribute information.
7. Moore's Law: Means that next generation chips should be twice
as fast in eighteen months, but cost the same as today's models .
8. Porter's Five Forces: Supplier
Power Buyer Power
Threat of
Substitution
Threat of New
Entry
affect your Competitive Rivalvry
Also known as Industry and Competitive Analysis.
9. Regulatory Compliance: An organization's adherence to laws,
regulations, guidelines and specifications relevant to its business.
10.Return on Investment: Measures the amount of return on an
,investment, relative to the investment's cost.
(Gain from Investment - Cost of Investment) / Cost of Investment
11.Data Standardization: The critical process of bringing data into a
common format that allows for collaborative research, large-scale
analytics, and sharing of sophisticated tools and methodologies.
12.Sustained Competitive Advantage: A long-term competitive advantage
that is not easily duplicable or surpassable by the competitors.
13.Business Process: A series of tasks that are repeated in order to
produce a measurable output.
14.Strategic management: is concerned with creating the general
framework in which the business process are executed.
, 15.Operational management: creates the workflow for formalizing and
automating business processes and applying information systems, as
appropriate, to support process execution.
16.Administrative management: , typically the role of the IS unit, is
responsible for developing the organizational and information systems
infrastructure to support business processes.
17.Data mart / warehouse: Repositories for large amounts of
transactional data awaiting analytics and reporting.
18.ePK: event controlled chain of process diagrams
19.Business process management: This integrates an organization to
make in- dividual processes more efficient and can be used to fix one
problem or create a unifying system to consolidate problems.
20.Data mining: The process of analyzing data warehouses for
information that can be used in management decision making.
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