A business model describes how a company produces, delivers, and sells a product or service to create wealth.
Answer: True
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MIS Chapter 1
- Supply chain management systems are more externally oriented than enterprise systems.
- Enterprise systems often include transactions with customers and vendors.
- Information supplied by an enterprise system is structured around cross-functional business processes.
- ESSs are designed primarily to solve specific problems.
- A Skype conference call using VOIP and webcams is an example of a remote, synchronous collaboration tool.
- ESSs are designed to incorporate data about external events, but they also draw summarized information from internal MIS and DSS.
- ESSs are designed to serve the middle management of the organization.
- Decision-support systems use internal information as well as information from external sources.
- Decision-support systems help managers make decisions that are unique, rapidly changing, and not easily specified in advance.
- Most MISs use sophisticated mathematical models or statistical techniques.
- Managers need TPSs to monitor the status of internal operations and the firm's relations with the external environment.
- Functional systems that support business processes within a single functional group, such as human resources, are being phased out in favor of cross-functional systems.
- Enrolling employees in benefits plans is a business process handled by the finance and accounting function.
- Management information systems typically support nonroutine decision making.
- A hotel reservation system is a typical example of a management information system.
- A transaction processing system is a computerized system that performs and records the daily routine transactions necessary to conduct business.
- Transaction processing systems are most commonly used by the senior management level of an organization.
- Online collaboration tools eliminate the need for global firms to have synchronous collaboration.
- You would use an MIS to help decide whether to introduce a new product line.
- Operational management is responsible for directing the day-to-day operations of the business and therefore needs transaction-level information.
- The behavioral approach to information systems leaves aside technical solutions to instead analyze the psychological, social, and economic impacts of systems.
- A firm that invests in efficient business processes is making an investment in organizational complementary assets.
- Government and private sector standards are examples of complementary social assets required to optimize returns from IT investments.
- Studies have consistently shown that firms who invest greater amounts in information technology receive greater benefits than firms that invest less.
- UPS's use of Web-based tools that allow customers to embed UPS functions such as tracing and cost calculations into their own Web sites was an information systems solution used to achieve customer intimacy.
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