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MGMT 3300 Exam #1 Questions and Answers
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MGMT 3300 Exam #1 Questions and Answers
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MGMT 3300 Exam #1 Questions andAnswers
- supporting customer interactions
- making decisions
- collaborating on teams
- gaining competitive advantage
- improving individual productivity
- managing operations - Answers -6 Major Roles of Information Systems
Operations Management - Answers -Management of systems and processes that
create goods and/or provide services
Customer Relationship Management (CRM) - Answers -a company-wide business
strategy designed to optimize profitability, revenue, and customer satisfaction by
focusing on highly defined and precise customer groups
churn - Answers -the number of consumers who stop using a product or service, divided
by the average number of consumers of that product or service
-Call your customers
-measure customer engagement
-figure out features that make your product sticky
-allocate your best reps to the job of saving customers that want to cancel
-consider a long term contract
-look for other factors that correlate with churn - Answers -ways to reduce churn
virtual team - Answers -group of individuals who work together from different geographic
locations and rely on communication technology to collaborate
competitive advantage - Answers -anything that gives a firm a lead over its rivals; it can
be gained through the development and application of innovative information systems
strategic vision - Answers -having a competitive advantage in development and
application of innovative information systems are a core feature of a company's ______
______
monopoly - Answers -Competition is for losers; New companies should always strive for
__________
, Timeliness, Accuracy, Completeness - Answers -3 Aspects of Information that
Determine Quality
Timeliness - Answers -important aspect of information that determines quality-- how
often information is updated; is information current/updated? weekly, daily, hourly?
Accuracy - Answers -important aspect of information that determines quality-- Are all the
values correct? Is it recorded properly?
Completeness - Answers -important aspect of information that determines quality/value-
- Are any values missing? Address includes a street, zip, state, city?
balance - Answers -We often have to ______ timeliness, accuracy and completeness
Knowledge - Answers -"The gas gauge was showing almost empty. I decided to look
out for the next gas station." What in this statement "I decided to look out for the next
petrol station is an example of?
Data - Answers -Consists of raw facts, such as employee's name
Data - Answers -A single high-temperature reading of a patient is a piece of ________
Information - Answers -Mark, a 22 year old with a viral infection, is admitted to a
hospital. On the 2nd day, a nurse takes a single-high temperature reading and enters it
into the patient records information system. This single reading when combined with
Mark's other symptoms and previous medical records becomes _________
Information - Answers -Refers to facts that are assembled and analyzed to add meaning
and usefulness
graph with average waiting times - Answers -Which refers to INFORMATION?
-waiting time of each voter
-single cell in the information system's database
-waiting time of a specific polling booth
-graph with average waiting times
knowledge - Answers -Robert recommends his client buys stock of Andersonz Corp for
a minimum period of 6 months and then sell them. His recommendation is based on the
graph of a firm's fluctuating performance for the past 3 quarters and an analysis of other
information. The basis of Robert's recommendations can be termed as ________
data - Answers -individual facts, statistics, or items of information
data, information and knowledge - Answers -these 3 things blend together and form a
continuum
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