MIS 140 Study Guide - Comprehensive Midterm Guide: Real Simple, Social Network, Natural-Language Processing

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MIS 140
MIDTERM EXAM
STUDY GUIDE
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Management Information Systems (MIS)
Chapter 1: Notes
Competing in the information age
Fact- the confirmation or validation of an even or object
Information age- the present time, during which infinite quantities of facts are
widely available to anyone who can use a computer
-Core drivers of the information age
Data
Information
Business Intelligence
Knowledge
Data
Meaning: Raw facts that describe the characteristics of an even or object
Information
Meaning: Data converted into a meaningful and useful context
Business Intelligence
Meaning: Information collected from multiple sources such as suppliers, customers,
competitors, partners, and industries that analyzes patterns, trends, and relationships
for strategic decision making
Knowledge
Meaning: Skills, experience, and expertise coupled with information and intelligence that
creates a person’s intellectual resources
Knowledge worker- individual valued for their ability to interpret and
analyze information
The MIS Solution
Input >Process>Output
Systems Thinking
Meaning: 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.
Management Information Systems (MIS)
Process
Output
Input
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Meaning: 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
Roles and Responsibilities Through MIS
Role
Responsibility
Chief Security Officer
(CSO)
Responsible for ensuring the security of business
systems and developing strategies and safeguards
against attacks by hackers and viruses.
Chief Knowledge Officer
(CKO)
Responsible for collecting, maintaining, and distributing
company knowledge
Chief Information Officer
(CIO)
Responsible for overseeing all uses of MIS and ensuring
that MIS strategically aligns with business goals and
objectives
Chief Technology Officer
(CTO)
Responsible for ensuring the speed, accuracy,
availability, and reliability of the MIS
Chief Privacy Officer
(CPO)
Responsible for ensuring the ethical and legal use of
information within a company
Identifying competitive Advantages
Business strategy- a leadership plan that achieves a specific set of goals
or objectives such as
o Developing new products or services
o Entering new markets
o Increasing customer loyalty
o Attracting new customers
o Increasing sales
-Competitive Advantage: a product or service that an organizations customer place a
greater value on than similar offerings from a competitor
-First mover advantage: occurs when an organization can significantly impact its market
by being first to market with a competitive advantage
SWOT Analysis
Meaning: evaluates an organizations strengths, weaknesses, opportunities, and threats
to identify significant influences that work for or against business strategies
Porter’s Five Forces Model
o Buyer Power- the power of customers to drive down prices
o Supplier Power- the power of suppliers to drive up prices of materials
o Rivalry among existing competitors- the power of competitors
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