Business and Technology Concepts Quiz

12 Questions

Intranets

Business Process

Technical Approach

Information System

Data

Complimentary Assets

It is enabled and mediated digitally in significant business relationships.

Make sense of situations, make decisions, and formulate action plans.

Rugby Football Union

Universal standards for information storage and retrieval on the internet

It transforms the traditional business world with a stream of information technology innovations.

Workers who design products/services and create new knowledge for the firm

Study Notes

Intranets are internal corporate networks based on internet technology
Networking and Telecommunications Technology consists of physical devices and software that link hardware and transfer data between locations

A Business Process refers to a set of logically related tasks and behaviors that organizations develop over time to produce specific business results
Operational Excellence is achieved by continuously improving operational efficiency to increase profitability
Middle Management carries out the programs and plans of senior management
Management involves making sense of situations, making decisions, and formulating action plans to solve organizational problems
Operational Management is responsible for monitoring daily business activities

An Information System collects, processes, stores, and distributes information to support decision-making and control in an organization
Data refers to streams of raw facts representing events occurring in organizations or the physical environment
Input involves capturing or collecting raw data from within the organization or from its external environment
Data Management Technology consists of software governing the organization of data on physical storage media
Computer Software consists of detailed, preprogrammed instructions controlling and coordinating computer hardware components

Knowledge Workers design products or services and create new knowledge for the firm
Production or Service Workers produce products and deliver services
Time Shifting refers to business being conducted continuously, 24/7
Space Shifting means that work takes place in a global workshop, beyond national boundaries

Core Business Processes are accomplished through digital networks spanning the entire organization or linking multiple organizations
Customer and Supplier Intimacy involves knowing customers and serving them well, leading to customer loyalty and repeat business
Complimentary Assets are those required to derive value from a primary investment
Digital Firm is a company where nearly all significant business relationships are digitally enabled and mediated

World Wide Web is a service provided by the internet, using universally accepted standards for storing, retrieving, formatting, and displaying information
IT Innovations involve a continuing stream of information technology innovations transforming the traditional business world
Improved Decision Making involves having the right information at the right time to make informed decisions

12 Questions