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23 Cards in this Set

  • Front
  • Back

Apple competitive advantages

Customer focus, resources and capabilities, strategic vision, branding, and quality

Fact

the confirmation or validation of an event or object

Information age

a time when infinite quantities of facts are widely available to anyone who can use a computer

Data

raw facts that describe the characteristics of an event or object

information

data converted into meaningful and useful context

variable

a data characteristic that stands for a value that changes or varies over time

Business intelligence

information collected from multiple sources (suppliers, customers, competitors, partners, and industries) that analyzes patterns, trends, and relationships for strategic decision making

knowledge

the skills, experience, and expertise, coupled with information and intelligence, that creates a persons intellectual resources

knowledge workers

individuals valued for their ability to interpret and analyze information

Accounting department

records, measures, and reports monetary transactions

finance department

deals with strategic financial issues including money, banking, credit, investments, and assets

human resources department

maintains policies, plans, and procedures for the effective management of employees

Marketing department

supports sales by planning, pricing, and promoting goods or services

Operations management

manages the process of converting or transforming or resources into goods or services

sales department

performs the function of selling goods or services

system

a collection of parts that link to achieve a common purpose

goods:

material items or products that customers will buy to satisfy a want or need.

services

tasks performed by people that customers will buy to satisfy a want or need.

production

the process where a business takes raw materials and processes them or converts them into a finished product for its goods or services

systems thinking

a way of monitoring the entire system by viewing multiple inputs being processed or transformed to produce outputs while continuously gathering feedback on each part

Feedback

information that returns to its original transmitter (input, transform, or output) and modifies the transmitter's actions

Management Information Systems (MIS)

a business function, like accounting and human resources, which moves information about people, products, and processes across the company to facilitate decision making and problem solving

MIS for sales

moves a single customer order across all functional areas