ISM3003 MIDTERMCh. 1 - The Information Age in Which You Live1. What is MIS? – (management information systems)- deals with planning for, development, management, and use of information technology tools to help people perform all tasks related to information processing and management 2. What role does MIS play in organizations?- focus on how people can use technologies to work with and massage information to help an organization achieve its goals. 3. What are the three key resources that MIS focuses on?- people, information, and information technology (way people use information technology to work withinformation)4. What defines the Information Age?5. What is the difference between data, information, knowledge, and business intelligence?-Data- raw facts that describe a particular phenomenon (temp, price, age)-Information- data that have a particular meaning within a specific content (temperature when deciding what to wear)-Business intelligence (BI)- collective information about your customers, competitors, business partners, competitive environment, and your own internal operations that gives you the ability to make effective, important, and often strategic business decisions -All components build on each other6. How does technology support these things? – have to know which technology to purchase, how to exploit the many benefits of application software, and what technology infrastructure is required to get businesses connected to each other. 7. What are the key components of Porter's Five Forces1. Buyer power- high when buyers have many choices from whom to buy, and low when their choices are few.2. Supplier power- high when buyers have few choices from whom to buy, and low when their choices are many3. Threat of substitute products or services- high when there are many alternativesto a product or service, and low when there are few alternatives to choose4. Threat of new entrants- high when it is easy for new competitors to enter market, and low when there are significant entry barriers to entering a market5. Rivalry among existing competitors- high when competition is fierce in a market, and low when competition is more complacent8. Why is it important to understand Porter's Five Forces when making technology decisions? - Used to assess technology and the competitive advantageit can yield helps business people understand the relative attractiveness of an industry and the industry’s competitive pressures in terms of the 5 sources9. What are Porter's 3 generic strategies to beat the competition?1. Overall cost leadership- offering the same or better quality product or service ata price that is less than what any of the competition is able to do (Wal-Mart)2. Differentiation- offering a product or service that is perceived as being “unique” in the marketplace (Apple)3. Focus- focusing on offering products and services to a particular market segment or buyer group, within a segment of a product line, and/or to a specific geographic market (Restaurants)Extended Learning Module A - Computer Hardware and Software1. What is IT and how is it different from MIS? – (Information technology)- any computer-based tool that people use to work with information and support the information and information-processing needs of an organization (internet, spreadsheets, video games) 2. What is hardware? – consists of the physical devices that make up a computer, for instance, keyboard, mouse, modem, flash memory drive, & printer. 3. What are the different categories of hardware? 1. Input devices- tools used to enter information and commands2. Output devices- tools used to see, hear, or otherwise recognize the results of your information-processing requests3. Storage devices- tools used to store information for use at a later time4. Central processing unit- (CPU)- actual hard drive that interprets and executes the software instructions and coordinates the operation of all other hardware5. Telecommunication device- tool used to send information to and receive it from another person or computer in a network6. Connecting devices- include things such as USB ports into which you would connect a printer and connector cords to connect your printer to the port4. What is software? – Set of instructions your hardware executes to carry out a specific task for you such as creating a graph (Excel) & surfing the web (Internet Explorer)5. What are the different categories of software? -Application software- software that enables you to solve specific problems or perform specific tasks-System software- handles tasks specific to technology management and coordinates the interaction of all technology devices-Operating system software- system software that controls your application software and manages how your hardware devices work together-Utility software- software that provides additional functionality to your operating system software6. What are the different 'sizes' of computers? Smartphones, tablets, notebook computers, desktop computers, mini computers7. What are these different 'sizes' of computers used for? – Size is usually relatedto power and speed, and thus price. Smartphones are used to be mobile. Tablets are used to be handheld. Laptops used to be portable. 8. What is the difference between a bit vs. byte vs. kilobyte vs. ... petabyte?-Bite- smallest unit of info that your computer can process-Byte- group of 8 bits that represent 1 natural language character9. What is a CPU? –(Central processing unit)- hardware that interprets and executes the system and application software instructions and coordinates the operation of all other hardware10. What is the difference between a control unit vs. ALU vs. cache vs. RAM vs. clock vs. system bus?-Control unit- component of CPU that directs what happens in your computer, sends to RAM for instructions and the information it needs, -Arithmetic logic unit- (ALU)- component of CPU that preforms arithmetic, as well as comparison and logic operations-Cache- type of memory on the CPU where instructions called up by the CPU wait until the CPU is ready to use them-Random access memory- (RAM)- temporary holding area for the information you are working with as well as the system application software instructions that the CPU currently needs. -Clock- a sliver of quartz that beats at regular intervals in response to an electricalcharge-System bus- consists of electrical pathways that move information between basiccomponents of the motherboard, including