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Business Information Value Chain Quiz

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Questions and Answers

What is the primary benefit of improved efficiency in operational excellence?

More competitive products

Broader customer base

Increased profits (correct)

Enhanced decision making

What does the term 'business model' refer to?

How a company produces, delivers, and sells its products and services (correct)

The revenue generated from a company's products and services

The size and scale of a company's operations

The total number of products and services offered by a company

How does Mandarin Oriental Hotel use information technology to enhance customer relationships?

By reducing the cost of services and products

By tracking and accommodating customer preferences (correct)

By expanding its operations globally

By standardizing its customer service procedures

What enables firms to create new products, services, and business models?

Information systems and technologies Signup and view all the answers

What was the global spending on information technology (IT) and IT services in 2019?

$3.8 trillion Signup and view all the answers

Why are organizational, management, and cultural changes often required for firms to derive full business value from IT investments?

To fully realize the benefits of IT investments Signup and view all the answers

What are the components of an information system according to Chapter 1?

Hardware, software, people, data, network Signup and view all the answers

What academic disciplines are used to study information systems according to Chapter 1?

Management Science, Computer Science, Sociology Signup and view all the answers

What is the business information value chain?

A sequence of stages that add value to raw data Signup and view all the answers

What determines the value of an information system?

Extent to which it leads to better decisions, greater efficiency, and higher profits Signup and view all the answers

What does the text suggest about investing in information technology?

It does not guarantee good returns Signup and view all the answers

What is an example of deriving superior returns from technology investments, according to the text?

Investing in technology and the people to make it work properly Signup and view all the answers

What are examples of organizational assets mentioned in the text?

Appropriate business model Signup and view all the answers

Which approach emphasizes mathematically based models according to the text?

Technical Approach Signup and view all the answers

What is the primary focus of the sociotechnical systems approach described in the text?

Behavioral issues and strategic business integration Signup and view all the answers

Which assets are examples of social assets according to the text?

Technology standards Signup and view all the answers