Sample of (management information system) MIS exam

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Sample of (management information system) MIS exam
1. What is data and why is it important to a business?
Data refers to raw facts and figures without context (e.g., sales numbers, customer names, or inventory levels). It is important because businesses use data to make informed decisions, improve efficiency, and gain insights into customer behavior.
2. How can a manager turn data into information?
A manager can turn data into information by processing, organizing, and analyzing it to provide meaning. For example, sales data can be grouped by region to identify high-performing areas.
3. What are the relationships among data, information, business intelligence, and knowledge?
Data: Raw facts (e.g., "1000 units sold").
Information: Processed data with meaning (e.g., "Sales increased by 10%").
Business Intelligence (BI): Advanced analysis of information for strategic decision-making (e.g., "Sales increased due to holiday promotions").
Knowledge: The application of BI with experience to make business decisions (e.g., "We should increase inventory before the holiday season").
4. Why is it important for a company to operate cross-functionally?
Operating cross-functionally means different departments (e.g., sales, marketing, IT) work together. This improves efficiency, enhances communication, and helps businesses achieve overall goals rather than focusing on isolated tasks.
5. Why would a company want to have a CIO, CPO, and CSO?
CIO (Chief Information Officer): Oversees IT strategy and ensures technology aligns with business goals.
CPO (Chief Privacy Officer): Manages data privacy and ensures compliance with regulations.
CSO (Chief Security Officer): Protects company data from cyber threats.
Having these roles helps businesses maintain security, privacy, and efficient IT operations.
6. Explain MIS and the role it plays in a company and global business.
Management Information Systems (MIS) use technology to help businesses make data-driven decisions. It supports operations, improves efficiency, and enhances global communication and decision-making.
7. Do you agree that MIS is essential for businesses operating in the information age? Why or why not?
Yes, because businesses rely on data for decision-making, automation, and efficiency. MIS provides tools for managing data, analyzing trends, and improving competitiveness.
8. Why is it important for a business major to understand MIS?
Understanding MIS helps business majors make better decisions, improve efficiency, and adapt to digital trends. It also prepares them for careers in data-driven industries.

9. What type of career are you planning to pursue?
How will your specific career use data, information, business intelligence, and knowledge?
(Since you're in IT support and studying Data Science, here's a relevant answer for you.)
I plan to pursue a career in IT and Data Science. In this field:
Data is collected from users and systems.
Information is processed for troubleshooting or reporting.
Business Intelligence (BI) helps in predictive analytics and decision-making.
Knowledge is applied to improve system performance and security.
10. Explain systems thinking and how it supports business operations.
Systems thinking is viewing a business as a connected system where each part (departments, processes) affects the whole. It helps companies improve efficiency by understanding interdependencies.
11. What business strategies would you use if you were developing a competitive advantage for a company?
Cost Leadership (offering lower prices than competitors)
Differentiation (unique products/services)
Focus Strategy (targeting a niche market)
Innovation (using technology for better efficiency)
12. Explain Porter's Five Forces Model and the role it plays in decision-making.
Porter's Five Forces help businesses analyze competition:
Buyer Power – How much control customers have over prices.
Supplier Power – The influence suppliers have on costs.
Threat of New Entrants – How easy it is for new competitors to enter the market.
Threat of Substitutes – The risk of customers switching to alternatives.
Industry Rivalry – The intensity of competition among existing players.
Companies use this model to develop strategies for staying competitive.
13. How could a company use loyalty programs to influence buyer power?
How could a company use switching costs to lock in customers and suppliers?
Loyalty programs (e.g., discounts, rewards) reduce buyer power by encouraging repeat purchases.
Switching costs (e.g., contracts, exclusive software) make it harder for customers/suppliers to switch to competitors.

14. What are Porter's three generic strategies and why would a company want to follow only one?
Cost Leadership – Competing by offering the lowest prices.
Differentiation – Offering unique, high-quality products.
Focus – Targeting a niche market.
A company follows one strategy to avoid mixed messaging and focus resources effectively.
15. How can a company use Porter's value chain analysis to measure customer satisfaction?
Value chain analysis examines each business activity (e.g., production, sales) to identify areas for improvement. By enhancing key processes like customer service and product quality, companies can improve satisfaction.
16. Why do you believe data can be inaccurate? 
  - Data can be inaccurate due to human error, outdated information, poor data entry, system malfunctions, or lack of validation processes. 
17. What can a business do to ensure data is correct?
  - Implement data validation rules, automate data collection, conduct regular audits, train employees on data accuracy, and use reliable sources. 
18. Explain how bad data will impact information, business intelligence, and knowledge?
  - Bad Data → Wrong Information* (misleading reports) → *Poor Business Intelligence* (incorrect trends and predictions) → *Faulty Knowledge* (bad decisions affecting strategy). 
19. Have you ever made a decision based on bad data? (Personalize this with an example) 
  Example: A company ordered too much inventory due to incorrect sales forecasts. To verify, they should have cross-checked multiple data sources before making the decision. 
20. Argue for or against: "It is better to make a business decision with bad data than with no data?
Against: Bad data leads to poor decisions, wasting resources and causing losses. No data forces businesses to rely on expertise, intuition, and market research. 
21. Explain the Internet of Things (IoT) along with its potential impact on business. List three IoT devices you currently use? 
IoT: connects physical devices to the internet, allowing them to collect and exchange data. 
Impact on business: Improves efficiency, automates tasks, and enhances customer experiences. 
Examples of IoT devices: Smartwatch, smart thermostat, and a home assistant (e.g., Alexa, Google Home). 
22. Why is it important for business managers to understand that data collection rates from IoT devices are increasing exponentially?
  - With more IoT devices, companies collect vast amounts of data. Managers must know how to analyze and secure it to make informed decisions and comply with privacy regulations. 
23. Demonstrate how data from an IoT device can be transformed into information and business intelligence?
Example: A smart refrigerator collects temperature data (raw data). If the temperature fluctuates, it alerts the user (information). Analyzing these alerts over time helps identify maintenance needs (business intelligence). 
24. Propose a plan for how a start-up company can use IoT device data to make better business decisions?
  - Step 1: Identify key IoT devices (e.g., sensors, smart cameras). 
  - Step 2: Collect and store data securely. 
  - Step 3: Use AI and analytics to interpret trends. 
  - Step 4: Implement real-time monitoring for efficiency. 
  - Step 5: Adjust business strategies based on insights. 
25. Argue for or against: "The Internet of Things is just a passing fad and will be gone within a decade? 
Against: IoT is rapidly growing and is essential for automation, smart cities, healthcare, and industry. It is not a fad but a transformative technology.
26. What is the difference between information system and information technology?
Information system is an organized combinational of also components
1-    People: stockholder, staff, managers, students, admins
2-    Hardware and software
-    Hardware: computer, scanner, printer, monitor.
-    Software: windows
3-    Communication networks: wife, wire, internal telephone
4-    Data resources: students, employees, teachers
5-    Policies and procedures
- policies: IELS
- procedures: you pay money then you register the subject (online).
Information technology are: "components"
1)    Hardware and software
2)    Communication networks
3)    Data resources
This system stores, retrieves, transforms and disseminates information in an organization.

27. what are the components of a system?
- input – process – output
28. what are the components of Information system? 
All components and resources necessary to deliver information and functions to the organization.
29. What is the difference between E-business and E-commerce?
E-business is like the supply chain example: a customer order a car and it will be delivered after one year.
E-Commerce is to sell, buy, marketing and servicing a product and services over network, example: Amazon and Noon.
30. What are the types of management support systems?
-    Management information systems: reports and displays, Example: daily sales analysis reports.
-    Decision support systems: interactive and ad hoc support, example: a what if analysis to determine where to spend advertising dollars.

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