Exam 14: Understanding Information and E-Business

Pure Training, Inc. Pure Training, Inc., is a company that helps people start their own businesses.As part of the training it provides, the company covers many different aspects of entrepreneurship.One principle its trainers focus on is the difference between data and information.They also stress the importance and utility of a management information system.The trainers provide their clients with sufficient market research and statistics to understand trends in various areas.Pure Training prides itself on helping entrepreneurs launch and maintain successful businesses. -Refer to Pure Training, Inc.A Pure Training employee indicated that to provide information, MIS must perform the following functions.Based on what you have learned in this class, which of these functions would you say is incorrect?

Pure Training, Inc. Pure Training, Inc., is a company that helps people start their own businesses.As part of the training it provides, the company covers many different aspects of entrepreneurship.One principle its trainers focus on is the difference between data and information.They also stress the importance and utility of a management information system.The trainers provide their clients with sufficient market research and statistics to understand trends in various areas.Pure Training prides itself on helping entrepreneurs launch and maintain successful businesses. -Refer to Pure Training, Inc.If clients had questions about present and future sales levels and inventory levels, the trainers should address which of the following areas of management?

The most common internal sources of data include company records, reports, managers and employees, and minutes of meetings.

Would you expect the information needs of top managers to differ from those of middle- and lower-level managers? Explain your answer.

Describe each of the five functions of a management information system.

A computer-based system that facilitates and supports the decision-making needs of top managers and senior executives is referred to as a(n) ____ system.

Academic Standard, Inc.(ASI) Academic Standard, Inc., sells its products through the Internet.Amanda is one of the biggest buyers of the company's products for her business.Susan, who is Amanda's sales representative, recently suggested that ASI classify Amanda as a preferred customer. Although ASI has been successful in the past, the company recently encountered the problem of high production costs.Jonathan, a veteran employee of the company, suggested to senior management that certain aspects of production may need to be handled by other, more efficient companies.Jonathan also suggested that the company might want to create a physical store to possibly increase its visibility and potential profits.He explained many disadvantages of operating solely through the Internet. -Information rules

An Internet distributor of office supplies has a system of bidding and awarding contracts online for customer purchases.This is most likely a ____ model.

Information rules do all except which of the following?

The part of a business report that describes the facts that were discovered in the process of completing the report is the _____.

Barbara is reading through a business report and is stumped when she reads the conclusions and recommendations of the report.These sections do not seem to agree with the rest of the report or the results of the research.Barbara knows that in a well-written business report the ____ will provide a foundation for the conclusions and recommendations.

Ashley wants to increase the profits of her e-business.What two ways can she accomplish her goal of increasing profits?

An Internet consulting company uses its website to allow its corporate clients to obtain information, analyze data, and ask questions.This consulting company is using a ____ model.

A ____ is a source of revenue flowing into the firm.

Website designers are examples of specialized human resources required by a firm that wishes to successfully carry on any significant e-business activities.

How does the Internet help employees communicate and assist a firm's sales force?

Describe the internal and external forces that affect e-business.

If a firm posts employee openings along with the required skills needed on its website, it is using the Internet to

All firms use the same management information system regardless of their size.

At every Wal-Mart store, when a customer purchases a product, the system immediately reflects that purchase in a central computer and calculates the new inventory level.This system is