5 Written Questions
5 Matching Questions
- Value of information
- Structured decisions
- Semistructured decisons
- Discretionary information
- a is the benefit produced by the information minus the cost of producing it
- b are characterized by incomplete decision making rules and the need for subjective assessments and judgments to supplement formal data analysis
- c repetitive, routine, and understood well enough that they can be delegated to lower level employees in the organization
- d are facts that are collected, recorded, stored, and processed by an information system
- e information that is available only to certain internal users
5 Multiple Choice Questions
- data converted into a meaningful and useful context
- the condition that exists when the organization's parts interact to produce a joint effect that is greater than the sum of the parts acting alone
- striving to be the most efficient producer of a product or service
- usually required by a government entity such as a report to the IRS on taxable income and withholding
- The process of determining the major goals of the organization and the policies and strategies for obtaining and using resources to achieve those goals.
5 True/False Questions
Information overload → the state of having more information than one can process
Essential information → required to conduct business with external parties such as purchase orders and customer billings
Needs-based strategic position → involves trying to serve most of all of the needs of a particular group of customers in a target market.
Predictive analysis → uses data warehouses and complex algorithms to forecast future events, based on historical trends and calculated probabilities.
Variety-based strategic position → involves producing or providing a subset of the industry's products or services.