ITM100 CHAPTER 1 QUIZ
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Questions and Answers

What percentage of total US capital spending did information technology capital investment amount to between 1999 and 2019?

  • Less than 20%
  • Approximately 50%
  • Over 40% (correct)
  • Around 30%

What are examples of information technology innovations mentioned in the text?

  • Virtual reality, 3D printing, blockchain
  • Television, radio, newspapers
  • Telegraph, typewriter, fax machine
  • Cloud computing, IoT, business analytics (correct)

When did most of the mentioned changes in information technology innovations occur?

  • In the 1990s
  • In the 1980s
  • In the past few years (correct)
  • In the early 2000s

What does IT equipment, software, and R&D spending amount to as a percent of total capital spending in nominal GDP?

<p>Around 46.8% (C)</p> Signup and view all the answers

What is the projected e-commerce sales by 2021?

<p>$5 trillion (C)</p> Signup and view all the answers

What is the estimated number of manufacturing jobs lost by the United States to offshore, low-wage producers since 2000?

<p>5 million (D)</p> Signup and view all the answers

What is the approximate number of subscribers Netflix has attracted globally?

<p>167 million (B)</p> Signup and view all the answers

What is the approximate value of mobile retail e-commerce in 2020?

<p>$2.55 billion (C)</p> Signup and view all the answers

What is the primary focus of twenty-first-century digital firms?

<p>Information technology (D)</p> Signup and view all the answers

What is the primary factor driving the growth of mobile retail e-commerce?

<p>Powerful growth of the mobile platform (B)</p> Signup and view all the answers

What is the new focus of e-commerce exemplified by Facebook, YouTube, and Netflix?

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

What has been revolutionized by mobile technology in business firms?

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

What has intensified competitive tensions among nations as global trade expands?

<p>The Internet (B)</p> Signup and view all the answers

What is the primary driver of the transformation of work and management due to technology and globalization?

<p>The impact of technology and globalization (C)</p> Signup and view all the answers

What is the estimated number of new jobs created by the United States in 2018?

<p>2.6 million (B)</p> Signup and view all the answers

What has brought people and cultures closer together, energizing the Industrial Revolution?

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

What is the function of computer software in an information system?

<p>Preprogrammed instructions that control and coordinate computer hardware (A)</p> Signup and view all the answers

What technology governs the organization of data on physical storage media?

<p>Data management technology (D)</p> Signup and view all the answers

What is the function of networking and telecommunications technology in information systems?

<p>Linking hardware and transferring data between locations (C)</p> Signup and view all the answers

What is the Internet described as?

<p>A global 'network of networks' connecting millions of networks in over 230 countries (D)</p> Signup and view all the answers

What are intranets based on?

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

What do extranets extend to?

<p>Authorized users outside the organization (A)</p> Signup and view all the answers

What does the World Wide Web use universally accepted standards for?

<p>Storing, retrieving, formatting, and displaying information in a page format (B)</p> Signup and view all the answers

What is the foundation on which the firm can build its specific information systems?

<p>The IT infrastructure (C)</p> Signup and view all the answers

What information technologies does UPS's global delivery system utilize?

<p>Bar code scanning systems, wireless networks, mainframe computers, and handheld computers (D)</p> Signup and view all the answers

What elements anchor the UPS package tracking system?

<p>Organization, management, and technology (D)</p> Signup and view all the answers

What does computer hardware include?

<p>Various devices for input, processing, output, and telecommunications (C)</p> Signup and view all the answers

What does the IT infrastructure provide for the firm?

<p>The foundation on which the firm can build its specific information systems (B)</p> Signup and view all the answers

What is one of the strategic objectives that businesses aim to achieve through information systems?

<p>Operational excellence (B)</p> Signup and view all the answers

How do information systems enable customer intimacy?

<p>By tracking and analyzing customer preferences (D)</p> Signup and view all the answers

Which companies are mentioned as examples of using information systems for supplier intimacy?

<p>Charles Tyrwhitt and JCPenney (B)</p> Signup and view all the answers

What do information systems enable managers to do based on real-time data from the marketplace?

<p>Make informed decisions (B)</p> Signup and view all the answers

Which company uses the Oracle Human Capital Management system to gain real-time insights into employee information?

<p>Privi Organics Ltd. (A)</p> Signup and view all the answers

What is a potential outcome of achieving strategic business objectives through information systems?

<p>Competitive advantage (A)</p> Signup and view all the answers

What do industry leaders such as Apple Inc., Walmart, and UPS effectively use information systems for?

<p>Maintaining a competitive edge (C)</p> Signup and view all the answers

What context are information systems developed within, according to the text?

<p>Organizational politics (A)</p> Signup and view all the answers

What is management's role in relation to organizational challenges and information systems?

<p>To make sense of organizational challenges and set strategies (D)</p> Signup and view all the answers

What are managers responsible for, according to the text?

<p>Creating new products and services (A)</p> Signup and view all the answers

Why is understanding the relationship between information systems and strategic business objectives crucial for managers?

<p>To add value to the organization (D)</p> Signup and view all the answers

What is a digital firm?

<p>A firm that conducts all business relationships digitally (B)</p> Signup and view all the answers

What is the primary function of information systems in enabling globalization?

<p>Reducing communication costs and facilitating worldwide shopping (B)</p> Signup and view all the answers

What is the main challenge for business students according to the text?

<p>Developing high-level skills that cannot be outsourced (A)</p> Signup and view all the answers

What is the role of information systems in a digital firm?

<p>Accomplishing core business processes through digital networks (A)</p> Signup and view all the answers

What is the impact of the Internet on global business operations?

<p>Drastically reducing the costs of operating and transacting on a global scale (A)</p> Signup and view all the answers

What is the primary role of information systems in advanced countries?

<p>Conducting day-to-day business operations (C)</p> Signup and view all the answers

What is the significance of information systems in the employment landscape?

<p>Rapidly expanding employment in information systems and service occupations (A)</p> Signup and view all the answers

What is the impact of outsourcing on new systems development?

<p>Accelerating the development of new systems by reducing costs (C)</p> Signup and view all the answers

What is the essential role of information systems in achieving strategic business objectives?

<p>Enabling access to real-time information for decision-making (D)</p> Signup and view all the answers

What do digital firms offer in terms of global organization and management?

<p>Extraordinary opportunities for more-flexible global organization and management (A)</p> Signup and view all the answers

What is the function of a digital firm's key corporate assets?

<p>Managed through digital means (B)</p> Signup and view all the answers

What is the impact of information systems on job openings in the field of information systems and technologies?

<p>Far exceeding the supply of applicants (B)</p> Signup and view all the answers

Flashcards

Strategic Role of Information Systems

Information systems are crucial for businesses to achieve their goals, such as increasing efficiency, creating new products, improving customer relationships, making better decisions, and staying ahead of the competition.

Operational Excellence

Information systems enable organizations to work more effectively and efficiently, leading to higher profits.

Customer Intimacy

Information systems allow businesses to understand their customers better, personalize offers, and improve their overall experience.

Improved Decision Making

Information systems help businesses use data to make better decisions, allocate resources wisely, and respond quickly to changes in the market.

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Competitive Advantage

Information systems allow companies to outshine their competitors by using technology to gain a competitive edge.

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Organizational Politics

Information systems are developed within a complex environment of different views, disagreements, and compromises within an organization.

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Management's Role in Information Systems

Managers play a vital role in guiding the organization's use of information systems, setting strategies, allocating resources, and leading change.

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Manager's Value in Information Systems

The ability to use information systems effectively is essential for managers to contribute meaningfully to the organization's success.

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Impact of Information Systems on Employment

The increasing use of information technology has led to a significant growth in jobs related to information systems and services, resulting in higher wages, productivity, and overall improvement in the quality of work.

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Outsourcing in Information Systems

Outsourcing has become a common practice to reduce costs and accelerate the development of information systems worldwide.

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Challenge for Business Students

The challenge for students is to acquire advanced skills in information systems that cannot be outsourced easily.

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Challenge for Businesses

Businesses face the challenge of finding ways to create and offer products and services that cannot be easily replicated or produced at much lower costs offshore.

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Impact of the Internet on Global Business

The Internet has drastically reduced the costs of global business operations and transactions, enabling businesses to reach a wider audience.

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Information Systems and Globalization

Information systems play a critical role in globalization by reducing communication costs and fostering a worldwide marketplace for customers.

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Digital Firm

A digital firm relies heavily on digital technologies to manage relationships with customers, suppliers, and employees.

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Digital Networks in a Digital Firm

In a digital firm, key business processes are accomplished through digital networks that connect different parts of the organization and even link to external organizations.

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Digital Asset and Information Management

Digital firms manage their assets and information digitally, making it accessible anytime and anywhere.

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Flexibility in Digital Firms

Digital firms offer flexibility in terms of global organization and management, with employees working across different time zones and locations.

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Importance of Information Systems in Business

Information systems are now indispensable for businesses in most developed countries, playing a vital role in day-to-day operations and achieving strategic goals.

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Information Systems in the Economy

Information systems are widely used and relied upon in many industries, demonstrating their impact on the modern economy.

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Study Notes

The Strategic Role of Information Systems in Business

  • Information systems are crucial for businesses to achieve strategic objectives such as operational excellence, new products and services, customer and supplier intimacy, improved decision making, competitive advantage, and survival.
  • Businesses use information systems to continuously improve operational efficiency and achieve higher profitability.
  • Information systems enable customer intimacy by allowing businesses to track and analyze customer preferences, personalize marketing campaigns, and enhance the overall customer experience.
  • Examples of companies using information systems for supplier intimacy include UK retailer Charles Tyrwhitt and US department store chain JCPenney, which utilize real-time data to streamline inventory and supply chain operations.
  • Information systems and technologies enable managers to make informed decisions based on real-time data from the marketplace, leading to improved resource allocation and faster response times.
  • Privi Organics Ltd. uses the Oracle Human Capital Management system to gain real-time insights into employee information and make faster human resource decisions.
  • Achieving strategic business objectives through information systems often leads to a competitive advantage, allowing firms to outperform competitors and achieve higher sales and profits.
  • Industry leaders such as Apple Inc., Walmart, and UPS are known for effectively using information systems to maintain a competitive edge.
  • Information systems are developed within the context of organizational politics, which involves differing perspectives, conflicts, compromises, and agreements within an organization.
  • Management's role is to make sense of organizational challenges, set strategies, allocate resources, and exercise responsible leadership, while also engaging in creative work driven by new knowledge and information.
  • Managers are responsible for creating new products and services, as well as re-creating the organization from time to time, reflecting the hopes, dreams, and realities of real-world managers.
  • Understanding the relationship between information systems and strategic business objectives is crucial for managers to add value to the organization.

The Role of Information Systems in Global Business Today

  • Employment in information systems and service occupations has rapidly expanded in numbers, wages, productivity, and quality of work.
  • Outsourcing has accelerated the development of new systems in the United States and worldwide by reducing costs.
  • In 2019, job openings in information systems and technologies far exceeded the supply of applicants.
  • The challenge for business students is to develop high-level skills through education and on-the-job experience that cannot be outsourced.
  • The challenge for businesses is to avoid markets for goods and services that can be produced offshore much less expensively.
  • The emergence of the Internet into a full-blown international communications system has drastically reduced the costs of operating and transacting on a global scale.
  • Information systems enable globalization by reducing communication costs and allowing customers to shop in a worldwide marketplace.
  • A digital firm is one in which nearly all significant business relationships with customers, suppliers, and employees are digitally enabled and mediated.
  • Core business processes in a digital firm are accomplished through digital networks spanning the entire organization or linking multiple organizations.
  • In a digital firm, key corporate assets are managed through digital means, and information required to support key business decisions is available at any time and anywhere in the firm.
  • Digital firms offer extraordinary opportunities for more-flexible global organization and management, with both time shifting and space shifting being the norm.
  • Information systems are essential for conducting day-to-day business in most advanced countries and achieving strategic business objectives, with entire sectors of the economy relying heavily on information systems.

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Description

Test your knowledge about the strategic importance of information systems in business, their role in achieving operational excellence, customer intimacy, supplier relationships, and competitive advantage. Explore the impact of information systems on global business, employment, outsourcing, and the emergence of digital firms.

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