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OMIS 350. Exam 1. SELU. Baldwin. correctly answered to pass
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OMIS 350. Exam 1. SELU. Baldwin. correctly answered to pass
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OMIS 350. Exam 1. SELU. Baldwin.Emerging mobile digital platform
Growing business use of "big data"
Growth in cloud computing - correct answer ✔✔How information systems are transforming business
Internet has drastically reduced costs of operating on global scale
Increases in foreign trade, outsourcing
Presents both challenges and opportunities - correct answer ✔✔Globalization opportunities
Big data - correct answer ✔✔Reviews before you buy something
Emerging, fully digital firm - correct answer ✔✔-Significant business relationships are digitally enabled
and mediated.
-Core business processes are accomplished through digital networks.
-Key corporate assets are managed digitally
Digital firms - correct answer ✔✔Offer greater flexibility in organization and management
Time shifting and space shifting - correct answer ✔✔Connected to globalization
Core business processes - correct answer ✔✔Tasks you need to accomplish to run
-Ability to use information technology and
-Ability to implement corporate strategies and achieve corporate goals - correct answer ✔✔Growing
interdependence between:
1. Operational excellence
, 2. New products, services, and business
models
3. Customer and supplier intimacy
4. Improved decision making
5. Competitive advantage
6. Survival - correct answer ✔✔Firms invest heavily in information systems to achieve six strategic
business objectives:
More efficient - correct answer ✔✔Technology makes you:
Walmart - correct answer ✔✔What store is the low cost leader
Operational excellence - correct answer ✔✔Improvement of efficiency to attain higher profitability
Business model - correct answer ✔✔Describes how company produces, delivers, and sells product or
service to create wealth
Information services and technology - correct answer ✔✔Major enabling tools for new products,
services, and business models
Customers returning, which raises revenues and profits - correct answer ✔✔Serving customers well
leads too:
Provide vital inputs, which lowers costs - correct answer ✔✔Intimacy with suppliers allows them to:
Managers must use forecasts, best guesses, luck - correct answer ✔✔How does decision making work
without accurate information?
-Overproduction, underproduction
-Misallocation of resources
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