Exam 1: A Look Toward the

A _________________describes how a company actually operates-how work is done, the degree of automation, the pricing and design of products or services, and how the company generates sales revenue and profit to sustain itself.

Briefly describe the job prospects for IT professionals in the coming decade and identify at least 2 factors for this trend.

List the four characteristics of High-Quality Information described in your textbook.

Business process reengineering BPR) is considered one of the top 5 most pressing management concerns.

According to the Five Forces Model developed by Harvard Business professor Michael Porter, all of the following are major factors that determine a company's standing in an industry, except:

With typical Software as a Service SaaS) arrangements, companies purchase and install enterprise software on company owned computers and agree to adhere to traditional copyright regulations.

IT functions that do not provide a competitive advantage, such as computers, databases and network services are examples of _____________.

_____________________ develop requirements, budgets, and schedules for their firm's information technology projects. They coordinate such projects from development through implementation, working with their organization's IT workers, as well as clients, vendors, and consultants.

The _________________ process is designed to answer the following types of questions: -What is the long-term direction of our business? -What is the overall plan for deploying our resources? -How do we achieve competitive advantage over rivals in order to achieve or maximize profitability?

According to Porter's strategic planning model, an industry's profit potential is largely determined by the availability of necessary resources to produce the product/service.

In the most recent recession businesses executives frequently reduced IT expenses to cut costs.

Business productivity and cost reduction is considered one of the top 5 most pressing management concerns.

For most organizations, if their ________________ goes down, so does the business.

Competitive advantage is a difference between a company and its competitors that matters to customers.

Which of the following is not considered a form of messy data?

Messy data is the term used to refer to data e.g., tweets, posts, click streams, images, including medical images) that cannot be organized in a way that a computer can easily process.

The goal of _____________________________ is to eliminate the unnecessary non-value added processes, then simplify and automate the remaining processes to significantly reduce cycle time, labor, and costs.

The phrase "paralysis of analysis" describes situations where companies lose agility and flexibility in the hope of gathering perfect data when making time-sensitive decisions.

Integration, computation, and analysis of massive data repositories to gain a competitive advantage by identifying trends and relationships in organizational data, and/or creating or taking advantage of business opportunities is the function of:

List and explain the five industry market) forces in Michael Porter's competitive forces model.