Exam 1: Introduction to MIS

Porter defined ________ broadly to include research and development and other activities within the firm for developing new techniques, methods, and procedures.

Which of the following statements regarding an information system is true?

Support activities in a value chain include the processes of finding vendors, setting up contractual arrangements, and negotiating prices.

Porter defined ________ as the amount of money that a customer is willing to pay for a resource, product, or service.

________ is the ability to model the components of a system and to connect the inputs and outputs among those components into a sensible whole, one that explains the phenomenon observed.

Each stage of the value chain accumulates costs and adds value to the product.

According to Porter's model of business activities, ________ are interactions across value activities.

An organization responds to the structure of its industry by choosing a competitive strategy.

In the process of determining a firm's management information systems, after developing a competitive strategy, a firm determines ________.

Effective collaboration is all about being cordial to your team members.

A business with a differentiation strategy will add cost to an activity as long as the activity has a positive margin.

Porter defines value as the amount of money that a customer is willing to pay for a resource, product, or service.

As a result of Moore's Law, the ratio of price to performance of computers has increased dramatically over the years.

Define value, margin, and value chain.

A focused differentiation strategy involves offering a better product or service across the industry.

Staples sells office supplies and machines, furniture, and technology and business services both in stores and online. It sells every kind of stationery that one can imagine. It has over 2,000 stores worldwide in 26 countries. This is an example of a(n)________.

The phenomenal growth of YouTube, Facebook, and Twitter are examples of how Moore's Law can impact the business environment.

How does Porter define technology, human resources, and firm infrastructure?

Business processes are synonymous with information systems.

State Moore's Law and describe its effects on the business environment.