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1.Define Information. What are the characteristics of good or useful information?

Can data for one person/phase be information for another? How? Ans:- Information is data that has been processed into a form that is meaningful to the recipient (USER) and is of real or perceived value in current or prospective actions or decisions. Relevant, complete, accurate, current, economical. Individuals entertainment and enlightenment Business decision making, problem solving and control. 2. Why is Information System important? Ans:- For an organization to survive and prosper More locations (networking, internet) New products and services Improve jobs and work flows: efficiency,cost 3. What are the 4 levels of application of Information Systems in a firm? Ans:-1) Strategic level (senior managers) 2) Management level (middle managers) 3) Knowledge level (knowledge and data workers) 4) Operational level (operational managers) 4.How does Management Information system add value to a firm?

Ans:- MIS Systems Can be Used in Three Ways for adding business value (from lowest to highest) to an organization:

1) Automating 2) Informating 3) Strategizing Automating (example) Loan application processing comparison Process start: customer takes the application Process end: customer notified of the decision

Manual loan process 25 to 40 days Technology-Supported Process - 5 to 20 days Fully automated process 1 hour to 15 days 2) Informating learning (example)

Computer-based loan system identifies peak times during the year when specific loans are processed 3) Strategizing Strategic Planning: Forming a vision of where the organization needs to head; Crafting an organizational strategy Defining the way in which a company plans to gain/sustain competitive advantage 5.What does the term 'competitive advantage' mean? Ans:- One of the most important aspects in developing a competitive advantage is to acquire information on the activities and actions of competitors. Such information gathering drives business performance - by increasing market knowledge - improving knowledge management - raising the quality of strategic planning Porters 5 forces is a well known framework that aids in this analysis.

The model recognizes 5 major forces that could endanger a companys position in a given industry. - The threat of entry of new competitors - The bargaining power of suppliers - The bargaining power of customers - The threat of substitute product or services. - The rivalry among existing firms in the industry. 6. Describe Porters 5 forces model? Ans:- Porters 5 forces model is given below :- The threat of entry of new competitors - The bargaining power of suppliers - The bargaining power of customers - The threat of substitute product or services. - The rivalry among existing firms in the industry. 7. List the strategies that a firm can adopt to overcome competition. Ans:- Competitive analysis

One way to overcome is to analyze the competition, which means knowing it well, collect and analyze critical information, realize what you do, try to anticipate their actions, etc. For that, we buy their products, utilizing its services, visit their office, to analyze their strategies, interviewing former employees, interviewing clients, etc. Lower prices A common way to overcome the competition is lowering the price below that price. This practice can be a good way to compete, we must be careful because it involves reducing our profit margin and also the possibility that the competition was also decided to reduce prices. Differentiating from competitors Another way to beat the competition through differentiation, namely by offering products or services that have different characteristics that make products or other services from the competition. But to compete was not enough to offer something different, but also must be something unique, novel, innovative, something that is difficult to copy by competitors, something that allows us to distinguish ourselves from it, and the reasons why customers choose us for our pre- him. Continue to innovate If we want to prevent us achieving and maintaining competitive leadership, we always have to innovate.

To innovate means to launch new products, which need not be entirely new products, but can be based on the product we already have, but with new designs, new models, new brand, new logo, etc.. Improve customer service Something that is often overlooked customer service company, as a way to differentiate themselves from the competition, offering excellent customer service. Providing good customer service means providing, friendly, has a friendly atmosphere, has a clean, give prompt attention, providing personal service, etc. Leverage competitive advantages Another way to overcome competition is to utilize our competitive advantages, namely those of our competitors have advantages that allow us to highlight or excel at them. 8. Explain briefly the value chain model. Ans:-Activities conducted in any organization can be divided into two parts: primary activities and support activities. Primary activities are those activities in which materials are purchased, processed into products, and delivered to customers. Each adds value to the product or service hence the value chain. Inbound logistics (inputs, raw materials handling and warehousing) Operations (manufacturing and testing)

Outbound logistics (storage and distribution) Marketing and sales (advertising, pricing, promotion) Service (installation, repair, parts) Unlike the primary activities, which directly add value to the product or service, the support activities are operations that support the creation of value (primary activities) The firms infrastructure (accounting, finance, management) Human resources management Technology development (R&D) Procurement (purchasing of raw material, machines, supplies)

9. Does IT help sustain competitive advantage? Ans:-Approaches to Sustain Competitive Advantage Create inward systems which are not visible to competitors.

Provide a comprehensive, innovative & expensive system that is difficult to duplicate.

Combine SIS with structural changes. This would include business processes, reengineering & organizational transformation. 10. What is the definition of a 'digital firm'? Ans:-This article was very interesting and the one thing that stuck out at me the most was the fact that it says a company's most profitable customers want digital services and the latest technologies. That makes so much sense because if one of your customers is a large company, service and convenience, as long as price is competitive, will be what they want. I think businesses realize that this is true and that is why we live in an economy that is moving towards digital firms. You say it is a risk and it is expensive to transform into a digital firm, but it is a much bigger risk to ignore the competitive deficiencies of not being ahead of the game in technology and on-line services. If businesses don't recognize the movement and the offerings of their competitors, they will be left behind. 11.What are the different components of an MIS? Ans:-Information management is a business function responsible for gathering and disseminating information in a business organization. Companies will generate copious amounts of documents and figures that represent various business transactions. Owners, directors, managers and employees use this information to complete tasks and activities or to make decisions. Companies typically use an information management system to complete this process, with most systems computerized and including several different components.

Input Information systems need inputs. These inputs will vary widely depending on which department uses the information management system. For example, accounting departments will have inputs relating to vendor invoices, utility bills, production reports and payroll documents, among other items. Business owners and managers need this information to make decisions and review the operational or financial performance of their company. Processes Processes are the individual tasks or activities a company uses to review and disseminate information once inside the company. Processes are individual based on the department or division, such as production, sales, marketing, accounting, procurement and human resources. Most information needs some alteration in order to fit into the company's standard reports. Preparing information in this manner helps business owners and managers understand various aspects of their company. Technology Information technology allows companies to completely transform their information management system. Although companies used manual processes to send information via paper reports, business software applications and programs now allow the electronic transfer of information. Business owners and managers can take advantage of information technology and review their company's documents. Technology also allows companies to transfer information from multiple locations, both nationally and internationally. Personnel

Although information management systems make wide use of current technology, employees still play an integral role in this function. Employees may need to input information, complete information management tasks or activities and provide feedback for further management review. Employees can also make suggestions to improve these systems and ideas for eliminating redundancies. However, automated information technology systems can allow companies to reduce their workforce. 12. Describe Decision Support Systems (DSSs). What are their major components? Ans:- Decision support system (DSS) is a computer-based information system that supports business or organizational decision-making activities. DSSs serve the management, operations, and planning levels of an organization and help to make decisions, which may be rapidly changing and not easily specified in advance. DSSs include knowledge-based systems. A properly designed DSS is an interactive software-based system intended to help decision makers compile useful information from a combination of raw data, documents, personal known Components Three fundamental components of a DSSarchitectureare the database (or knowledge base), the model (i.e., the decision context and user criteria), and the user interface.

13. Distinguish between MIS and DSS. Ans:-The terms MIS and DSS stand for Management Information Systems and Decision Support Systems respectively. There has been a lot of talk regarding these two, whether they are actually the same thing or if there are any significant differences between the two. MIS is basically a kind of link to facilitate communcation between managers across different areas in a business organization . MIS plays a pivotal role in enabling communications across the floor of an organization, between various entities therein. DSS, many consider, is an advancement from the original MIS. However,this is not the sole difference between the two. While there may not be too much separating the two, the difference is still there,as is apparent when we say DSS is an advancement over MIS. The essential difference between the two is in focus. DSS, as the term indicates, is about leadership and senior management in an organization providing good, reliable judgment as well as vision. MIS, Why should users be involved in the software development process? on the other hand, is about focusing on the actual flow of information itself.

14. Why should users be involved in the software development process? Ans:-The higher the level of the manager, the less he or she is likely to care about computer technology. The goals and priorities of management may be in conflict with those of the supervisory and operational users. Management may not provide resources, funding or time that the users feel is necessary to build an effective system. The end users involved indirectly in the development process are auditors, standard bearers, and quality assurance group. The objective of this group is to ensure that the system is developed in accordance with various standard set: - standards by other departments. - standards by government regulatory agencies. - accounting standards. - they do not get involved until the end of project. - they provide the necessary notation and format of documentation.

15. Outline the various phases of SDLC. Briefly explain each. List deliverables, if any, in each phases Ans:- Software development life cycle consists of four phases. That is, 1.Analysis 2.Design 3.Implementation and 4.Testing

1. Analysis: Define the goals.Gathering the requirements to develope a software for customer satisfaction.Aanalyse that how to use and design?. 2.Design: Detailed design the requirements as a structure 3.Implementation: Implement the detailed design with designed code. 4.Testing: Check the whether the software will work properly or satisfies the customer expectation. If it is satisfies the customer needs, that software properly produced. This is software development life cycle. 16. List the different System building approaches (also called Alternative Development Frameworks). Explain each briefly, highlighting the key points. Ans:- PROTOTYPING APPLICATION SOFTWARE PACKAGES








17. What is Self-sourcing or End-user computing? Ans:-selfsourcing is the internal development and support of IT systems by knowledge workers with minimal contribution from IT specialists. Knowledge workers develop and utilize their own IT systems, as opposed to contracting out the work in a process known as outsourcing. Knowledge workers are workers who are dependent upon information or who develop and utilize knowledge in the workplace. I believe you should call it User Centered Design. This design methodology focuses the software design on the end users. While many design processes focus on technology, they should be focus on the end-user. User Centered Design methodology implies R&D teams should consider the design from the users' perspective.

18. Explain BPR. Ans:- Throwing aside old systems and starting over Not tinkering with what already exists Not a patchwork fix

Means asking if I were re-creating this process today, given what I know and given the current technology, what would it look like? Going back to the beginning and inventing a better way of doing work 19. What is the Role of IT in BPR? Ans:- IT used merely for Automation is NOT re-engineering. IT is an enabler, a business partner to re-engineering. IT helps to streamline business processes, reduce cycle times and validate the performance improvements. IT helps standardize business processes. IT through the use of a database can help in knowledge management by converting data into information that is useful in decision making. IT can also consolidate and enrich data to create information that is not available from a single source, and can thus be a vital source of Competitive intelligence. 20. What are the risks of BPR?

Ans:- A high failure rate among BPR projects (up to 70%) due to poor implementation and management practices (Hammer & Champy, 1993) Employees concerns about change Resistance by key managers Change in job functions, career paths, recruitment practices