96. Describe a manufacturing information system (MFIS).
ANSWER:
Answers will vary. An MFIS is used to manage manufacturing resources so that companies can reduce manufacturing costs, increase product quality, and make better inventory decisions. MFISs can perform many types of analysis with a high degree of timeliness and accuracy. An MFIS supports the following decisions, among others:
a. Ordering decisions
b. Product cost calculations
c. Space utilization
d. The bid evaluation process used with vendors and suppliers
e. Analysis of price changes and discounts
POINTS:
1
DIFFICULTY:
Moderate
REFERENCES:
Explain the importance and applications of information systems in functional areas of a business.
QUESTION TYPE:
Essay
HAS VARIABLES:
False
LEARNING OBJECTIVES:
MIS9.BIDG.19.01.07
TOPICS:
Information systems
Information technologies
KEYWORDS:
Understand
DATE CREATED:
6/6/2018 3:56 PM
DATE MODIFIED:
7/23/2018 12:24 PM
97. In the context of using information technologies for a competitive advantage, explain the difference in focus for a bottom-line strategy and a top-line strategy.
ANSWER:
Answers will vary. The focus of a bottom-line strategy is improving efficiency by reducing overall costs. A top-line strategy focuses on generating new revenue by offering new products and services to customers or increasing revenue by selling existing products and services to new customers.
POINTS:
1
DIFFICULTY:
Moderate
REFERENCES:
Discuss how information technologies are used to gain a competitive advantage.
QUESTION TYPE:
Essay
HAS VARIABLES:
False
LEARNING OBJECTIVES:
MIS9.BIDG.19.01.08
TOPICS:
Information systems and competitive advantage
KEYWORDS:
Understand
DATE CREATED:
6/6/2018 3:56 PM
DATE MODIFIED:
7/23/2018 12:24 PM
98. Describe the threat of substitute products or services. Explain how organizations fight this threat.
ANSWER:
Answers will vary. The threat of customers choosing substitute products or services is high when many alternatives to an organization’s products or services are available. Some organizations add services-such as Amazon’s personalized recommendations-to make their positions in the marketplace more distinctive. Other organizations use fees to discourage customers from switching to a competitor, such as cell phone companies adding charges for switching to another provider before the customer contract is up.
POINTS:
1
DIFFICULTY:
Moderate
REFERENCES:
Explain the Five Forces Model and strategies for gaining a competitive advantage.
QUESTION TYPE:
Essay
HAS VARIABLES:
False
LEARNING OBJECTIVES:
MIS9.BIDG.19.01.09
TOPICS:
Five Forces Model
KEYWORDS:
Understand
DATE CREATED:
6/6/2018 3:56 PM
DATE MODIFIED:
7/23/2018 12:24 PM
99. Explain how an organization can combat the threat of new entrants.
ANSWER:
Answers will vary. The threat of new entrants into the marketplace is low when duplicating a company’s product or service is difficult. Organizations often use focus strategies to ensure that the threat of new entrants remains low. In addition, organizations use information technologies to increase customer loyalty, which reduces the threat of new entrants.
POINTS:
1
DIFFICULTY:
Moderate
REFERENCES:
Explain the Five Forces Model and strategies for gaining a competitive advantage.
QUESTION TYPE:
Essay
HAS VARIABLES:
False
LEARNING OBJECTIVES:
MIS9.BIDG.19.01.09
TOPICS:
Five Forces Model
KEYWORDS:
Understand
DATE CREATED:
6/6/2018 3:56 PM
DATE MODIFIED:
7/23/2018 12:24 PM
100. In the context of the top information systems job, describe the roles of a chief technology officer (CTO) or a chief information officer (CIO) and a chief privacy officer (CPO).