Introduction to Resources in Organizations
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Questions and Answers

What is classified as conceptual resources in the context provided?

  • The physical smartphone itself
  • Smartphones
  • Pictures and videos on a mobile phone (correct)
  • Files saved on the smartphone (correct)

How is information defined in the provided context?

  • Random thoughts and opinions
  • Raw data without additional context
  • Facts that have been organized and processed (correct)
  • Only as validated truths

What characteristic of information allows it to be expanded without loss of integrity?

  • Accessibility
  • Expandability (correct)
  • Compressibility
  • Transportability

Which of the following examples illustrates compressibility of information?

<p>Brevity of news headlines (B)</p> Signup and view all the answers

What does the transportability of information refer to?

<p>The ease of moving information from one format to another (B)</p> Signup and view all the answers

Why is information considered sharable?

<p>Once disclosed, control over it is lost (A)</p> Signup and view all the answers

Which characteristic of information makes it easy to spread rapidly, both true and false?

<p>Transportability (C)</p> Signup and view all the answers

In the context, what is emphasized as a particular virtue of information?

<p>Information has added value through processing (C)</p> Signup and view all the answers

What is a characteristic of valuable information?

<p>It is accurate. (C)</p> Signup and view all the answers

Which type of source is generally considered more reliable for research?

<p>Technical websites (A)</p> Signup and view all the answers

What does 'garbage-in-garbage-out' refer to?

<p>The importance of accurate data processing. (A)</p> Signup and view all the answers

What aspect of information does 'complete' refer to?

<p>It including all important facts. (B)</p> Signup and view all the answers

Why might informal information still be deemed useful?

<p>It can provide adequate references. (B)</p> Signup and view all the answers

Which type of information is less likely to be carefully prepared and verified?

<p>Blogs and forums (D)</p> Signup and view all the answers

What is the main challenge regarding information from wikis, particularly Wikipedia?

<p>Its accuracy can vary widely. (B)</p> Signup and view all the answers

Which characteristic distinguishes formal information from informal information?

<p>Formal information is meant to be taken seriously. (B)</p> Signup and view all the answers

What could happen if information regarding a patient's allergies is missing?

<p>The patient could receive medication causing severe allergic reactions. (B)</p> Signup and view all the answers

Which factor most influences the reliability of information?

<p>The data collection method used. (D)</p> Signup and view all the answers

What characterizes flexible information?

<p>It can be used in various contexts and situations. (B)</p> Signup and view all the answers

Why is relevant information crucial for decision-makers?

<p>It helps focus on the specific issue at hand. (C)</p> Signup and view all the answers

What does it mean for information to be timely?

<p>It is provided when it is most needed. (A)</p> Signup and view all the answers

Which of the following best defines verifiable information?

<p>Information that can be checked for correctness. (B)</p> Signup and view all the answers

What is the main consideration regarding the economical production of information?

<p>The value of the information must outweigh production costs. (A)</p> Signup and view all the answers

How should information be presented to avoid confusion?

<p>It should be simple and clear. (D)</p> Signup and view all the answers

What is a key feature of information sharing in emails and SMS?

<p>Information can be forwarded without the sender's knowledge. (C)</p> Signup and view all the answers

What is an 'experience good' in economics?

<p>A product that can only be valued after being experienced. (D)</p> Signup and view all the answers

What challenge do organizations face in the information economy?

<p>Balancing between providing free information and recovering costs. (D)</p> Signup and view all the answers

What strategy allows customers to get a preview of a product or service?

<p>Browsing previews (A)</p> Signup and view all the answers

What is an example of a browsing preview strategy mentioned?

<p>Movie trailers (B)</p> Signup and view all the answers

What technology do mobile payment apps like Samsung Pay and Apple Pay utilize for transactions?

<p>Near-field communications (NFC) (C)</p> Signup and view all the answers

Which method is commonly used for biometric authentication in mobile payment systems?

<p>Fingerprint scanning (C)</p> Signup and view all the answers

In evaluating information, what is necessary for individuals?

<p>To invest in learning how to evaluate it. (C)</p> Signup and view all the answers

What type of marketing strategy helps consumers learn about new experience goods?

<p>Free samples (C)</p> Signup and view all the answers

Which characteristic of information implies that additional copies can be produced at little to no cost?

<p>Zero marginal cost (D)</p> Signup and view all the answers

Which of the following statements about non-rivalrous information is true?

<p>It can be consumed simultaneously by multiple users. (D)</p> Signup and view all the answers

What implication does social media sharing have on privacy?

<p>Automatic sharing of information limits transparency. (D)</p> Signup and view all the answers

What is the primary value of information for businesses?

<p>Producing quality products and services (C)</p> Signup and view all the answers

What does the term 'non-exclusive' mean in the context of information goods?

<p>Once known, it is hard to limit others' use of it. (A)</p> Signup and view all the answers

In the context of information goods, what describes their cost structure?

<p>High initial costs and low reproduction costs (B)</p> Signup and view all the answers

How is information considered valuable in today's business environment?

<p>It enables businesses to remain competitive and current. (D)</p> Signup and view all the answers

What impact did Apple's introduction of the iPhone 7 have on pre-order sales compared to the iPhone 6?

<p>Sales increased by 375%. (D)</p> Signup and view all the answers

What role does the reputation of directors and cast play in the success of a movie?

<p>They often mitigate skepticism and boost audience trust. (B)</p> Signup and view all the answers

Based on Cisco's study, what was the expected global internet traffic by 2019?

<p>2 zettabytes. (C)</p> Signup and view all the answers

How much data is equivalent to 1 zettabyte in terabytes?

<p>1 million terabytes. (B)</p> Signup and view all the answers

What has enhanced the speed and ease of information duplication and transmission?

<p>Digital technology and social media platforms. (A)</p> Signup and view all the answers

What communication methods have evolved with the advent of smartphones?

<p>SMS, emails, and messaging apps. (C)</p> Signup and view all the answers

What is one way that libraries have adapted to the growth of digital information?

<p>They now offer access to e-books and online resources. (B)</p> Signup and view all the answers

Which of the following is a consequence of information overload due to increased digital communication?

<p>Enhancement of privacy concerns. (B)</p> Signup and view all the answers

Flashcards

Conceptual Resources

Data, information, or knowledge stored in a computer system.

Physical Resources

The physical objects, like smartphones, that hold or manage conceptual resources.

Information

Facts, processed data about something or someone.

Expandable Information

Information that can be enlarged and detailed without losing its meaning or value.

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Compressible Information

Information that can be shortened without sacrificing essential details

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Transportable Information

Information that can be easily moved, often digitally.

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Sharable Information

Information that can be shared with others, often losing control on its spreading.

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Processed Data

Data that has been organized and structured to have additional value.

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Accurate Information

Information that is free from errors, often derived from reliable data; the opposite of inaccurate information.

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Inaccurate Information

Information containing errors often resulting from flawed data processing.

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Formal Information

Official and authoritative information presented in a structured format, usually verified thoroughly.

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Informal Information

Casual information from blogs, forums, social media, presented less authoritatively than formal information.

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Complete Information

Information containing all essential facts, especially critical in fields like medicine.

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Valuable Information

Information with characteristics like accuracy, completeness, and credibility appropriate for a specific purpose or research.

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Wikipedia.org

A popular online wiki, a collaborative platform, but its accuracy can be questionable, although sometimes acceptable.

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Reliable Information Source

Sources providing information judged accurate, complete, and credible for certain uses; this includes formal information and possibly informal sources with verified facts.

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Economical Information

Information that is relatively inexpensive to create and obtain.

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Reliable Information

Information that can be trusted and is accurate.

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Flexible Information

Information that can be used for various purposes.

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Relevant Information

Information that is important and applicable to the current situation.

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Simple Information

Information that is easy to understand and not overly complex.

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Timely Information

Information that is delivered when it is needed.

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Verifiable Information

Information that can be checked for accuracy.

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Accessible Information

Information that is available to authorized users.

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Forwarding information

Sending information to others without the original sender knowing.

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Information Economics

Study of how information is valued and exchanged.

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Experience Good

A product whose value is assessed through use.

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Differential Pricing

Setting different prices for the same product.

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Browsing Previews

Strategies used to entice customers to buy information before knowing all details.

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Movie Trailers

Short previews of movies designed to encourage viewing.

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Transparency

Openly displaying information and its origins.

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Information Cost

Resources (time, money, effort) needed to obtain information.

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Mobile Pay

A payment system that uses a smartphone app to make transactions, often using NFC technology.

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NFC Technology

A technology that allows for contactless communication between devices, enabling mobile payments.

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Biometric Authentication

Using unique physical characteristics (like fingerprints) to verify a user's identity in a mobile payment system.

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Zero Marginal Cost

The cost of producing additional copies of information is practically zero.

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Non-rivalrous

Many people can consume the same information at the same time without diminishing its availability to others.

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Non-exclusive

It's hard to stop others from using information once it's been shared.

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Value of Information (Business)

Information helps businesses maintain competitiveness by improving products/services and staying up-to-date with trends and technologies.

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Information characteristics (4)

Information has zero marginal cost, is non-rivalrous, non-exclusive, and doesn't have high transparency.

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Brand Recognition

Consumers' familiarity and trust in a particular brand, often leading to a preference for its products.

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Reputation Building

Creating a positive public image, often through consistent quality of work and positive reactions, that leads consumers to trust and expect quality from the creator.

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Information Overload

The excessive amount of information available, often exceeding our ability to process and use it in effective ways.

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Easy Information Duplication

The ease with which information can be copied and distributed across various platforms, often at high speed.

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Increased Communication Methods

A growing number of tools for people to communicate, with more digital ways replacing older methods.

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Growth of Historical Information

Historical information is increasing, with more and more data being stored in digital formats.

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Global Internet Traffic

The amount of data being transferred globally via the internet, increasing at an accelerated rate.

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Zettabyte

A massive unit of data storage, equal to one quintillion bytes (1,000,000,000,000,000,000 bytes).

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Study Notes

Introduction to Resources

  • Organizations view company assets (buildings, equipment, manpower) as resources.
  • Resources are all available means for increasing company production or profit.
  • Resources include land, labor, capital, and raw materials.
  • Without resources, organizations cannot exist.
  • Physical resources are tangible (e.g., money, forklifts, teachers).
  • Physical resources are acquired and assembled for use as needed, often converting raw materials into refined forms.
  • Managers maximize resource usage by allocating space, and planning for replacement/repair before resources become inefficient or obsolete.

Conceptual Resources

  • Conceptual resources are non-tangible and valuable for what they represent (e.g., money, skills, experience).
  • Employees' skills, knowledge, and experience set them apart, making them valuable.
  • Conceptual resources are used to manage physical resources, and vice versa (e.g., computer usage in organization).
  • Digital content stored on computers becomes irreplaceable resources.
  • Security measures for computer units (e.g., firewalls, anti-virus) are used to protect valuable data (conceptual resources).
  • Information (data, facts) is considered a conceptual resource. Relevant verifiable truths with validated meaning and value.
  • Data, when organized, become information.

Information as a Resource

  • Information is defined as facts about something or someone.
  • Facts need to be validated and identified as relevant truths
  • Information has additional value beyond the value of the facts themselves.

Valuable Information

  • Accurate information is error-free.
  • Formal information is authoritative, well prepared, and reliable (e.g., academic websites).
  • Informal information is more casual and less reliable (e.g., blogs or forums).
  • Complete information contains all essential facts.
  • Economic information has a balance of value over production cost.
  • Reliable information depends on valid data and sources.
  • Flexible information can suit various situations.
  • Relevant information is important to a decision-maker.
  • Simple information is easy to understand.
  • Timely information is available when needed.
  • Verifiable information is correct and authentic.
  • Accessible information is easily obtained by authorized users.
  • Secure information is protected from unauthorized access.

Information Characteristics

  • Information can be expanded without losing integrity.
  • Information is easily transportable (via email, social media, etc.)
  • Information can be diffused (spread) easily.
  • Information can be shared easily.
  • Information is potentially valuable in different industries (e.g., medicine, finance).

Growth of Information

  • Digital copies have replaced many physical archives.
  • Online resources (e.g., e-books, e-journals) are increasingly common.
  • Mobile devices and communication methods have simplified access to and transmission of information.
  • The speed and volume of digital information are rapidly increasing.
  • The use of social media platforms and mobile applications have increased the speed of information transmission.
  • The information overload problem is a consequence of the rapid expansion of digitized information sources.

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Introduction to Resources PDF

Description

This quiz explores the various types of resources that organizations rely on, including both tangible and intangible assets. Learn how managers maximize resource utilization and ensure operational efficiency. Test your understanding of physical and conceptual resources and their importance in business management.

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