WGU D075 Unit 4

WGU D075 Unit 4 Leave the first rating Students also studied Terms in this set (119) Social SciencesBusinessBusiness management Save WGU C720 Complete OA Prep Guid...153 terms Brpinson321Preview MIS Chapter 3 60 terms Doejoe2000Preview MIS Chapter 1 100 terms parker_chubaPreview MIS Ch 60 terms quiz What does it mean to leverage IT in business? Using IT tools and systems strategically to achieve greater business goals. To maximize the potential of technology to enhance operations, improve efficiency, and gain a competitive advantage, often by automating tasks, accessing data insights, and connecting with customers more effectively.What is Supply Chain Management?A network of businesses, individuals, organizations, resources, and activities that are involved in creating and delivering a product or service to a customer.How is IT an integral part of Supply Chain Management? It coordinates between suppliers and buyers.How is IT an integral part of the IT supply chain? IT system connects between supplier and buyer allowing for real-time communication and data sharing.Explain "Just In Time".A supplier can track buyer's needs making sure products are produced and delivered when needed, minimizing inventory cost and maximizing production efficiency.Define Extranet.An intranet that can be partially accessed by authorized outside users.What are the five core business departments?Accounting Research and Development Human Resources Production or Operations Marketing How does the accounting department use IT? The accounting department measures and provides financial information about an organization. It uses IT to obtain updated sales information, process AR/AP, and requires a network system to operate.

How does the research and development department use IT?The research and development department keep business growing through innovation. It uses IT to gather insights on competitors, market performance, and recognize trends.How does the human resource department use IT? The human resources department manages the employee life cycle. It uses IT to hire/terminate employees and for electronic training materials.How does the production/operations department use IT?The production/operations department prepares goods and services to be sold.It uses IT by obtaining orders, maintaining inventory, and making material orders.How does the marketing department use IT?The marketing department promotes the business's products/services. It uses IT through data analytics for market research and web-based promotions.What is GAAP?Generally Accepted Accounting Principles: accounting rules for preparing, presenting, and reporting financial statements so an organization and its investors can have a standard set of reports regarding a business's well-being.What is the Sarbones-Oxley Act of 2002 (SOX)? Mandates certain practices in financial record keeping and reporting for corporations. Banned company loads to executives and provides job protection to whistleblowers.What impact does IT have on SOX?SOX requires companies to implement robust IT systems and controls to ensure the accuracy and integrity of financial records, which means IT plays a critical role in achieving compliance with SOX regulations by facilitating the tracking, monitoring, and safeguarding of financial data across the organization.How does IT impact Production?IT helps augment decision-making when deciding what goods/services to produce, how to produce them, and the most efficient, cost-effective way to maximize profits.What are Goods?Merchandise or possessions.What are Services?The action of helping or doing work for someone. Includes assistance and giving advice.What is the impact of IT on Research and Development? By facilitating data collection, analysis, simulation, collaboration, and communication, enabling researchers to conduct experiments more efficiently, access vast amounts of information quickly, and develop new insights and innovations at a faster pace.What is brainstorming?Collaborative thought exercise.What is Basic Research?Exploration of new ideas and possibilities that may or may not be implemented in the business.What's an example of how IT enhances basic research? Searching the internet for research and analyzing public information on people's habits, wants, needs, and desires.What is Applied Research?Applied Research is focused on developing a commercial product or process to meet customer or industry requirements and needs.

What's an example of how IT enhances applied research? Determining possibilities through simulations.What is Development Research?Findings of research are used for production of products.What's an example of how IT enhances development research?Creating prototypes and production samples.What's an example of how IT enhances marketing? Data mining and business intelligence both lead to targeted marketing campaigns.What is Search Engine Marketing?Paid advertisements that appear on search engine result pages to improve a company's visibility.

What is SERPs?Search Engine Result Pages:

a page a search engine displays after a user enters a search query. Includes organic search results, pay-per-click ads, images, videos, and shopping suggestions.What is Search Engine Optimization?A process of improving the quality and quantity of website traffic to a website or web page from search engines.What is Organic Search Results?Calculated algorithmically based on keyword relevance, content quality, and site authority. Not affected by advertiser payments.What is Human Resources?HR responsibilities are compliance with employment laws and regulations, managing compensation and benefits, addressing grievances, and maintaining healthy work environments.What is Human Resource Management?HRM is responsible for recruiting, hiring, evaluation, tracking personnel data, and administering payroll and pensions.How does HR use IT?With people analytics- using data analysis technology to understand, measure, and improve various aspects of HRM. HR tracks information about current and former employees, sets job titles, training, pay ranges, job requirements, and performance tracking.How does IT enhance data and information exchange? IT makes communications between departments almost instantaneously.How does IT enhance business collaboration?Two or more departments working together towards a common goal facilitated by data and information exchanged through IT.What is Intranet?For internal use only. Private computer network for sharing corporate information, collaboration tools, and computing services.What is Transaction Processing?Software and hardware systems that manage the collection, storage, modification, and retrieval of business and customer data during a transaction. They are characterized by speed, accuracy, customization, and reporting.

What are four examples of Transaction Processing Systems?UPC scanner ATMs Online shopping Stock trading What is Executive Level Reporting?In-depth analysis of specific business aspects, events, or metrics that helps analyze information to make business decisions.What is Management Level Reporting?Detailed TPS reports and can sometimes be used for strategic decisions, usually tactical decisions that require specific actions.What is an Analysis Report?Includes qualitative and quantitative data to understand a specific issue.What is a Predictive Report?Analyzes historical data and current trends to forecast future outcomes.What is a Trend Report?Analyzes data over time to identify patterns.What is a Variance Report?Compares actual against planned/budgeted.Why CRM?Without CRM all customer data is lost. CRM takes customer data and turns it into useful, actionable, valuable insights that can multiply marketing capabilities.What are Tactical Reports?A detailed analysis of specific data.What are three elements of CRM?Technology Strategy Process What three elements does Decision Support Systems need for accurate decision-making?Business intelligence Data analytics Data management capabilities What are 5 IT challenges?Too much data Too many options Unskilled team members Technical support Cybersecurity What is Geographic Information Systems (GIS)? A framework for gathering, managing, and analyzing data.What 5 methods use IT to innovate within an organization?Data housing and management Improved Communications Customer Relationship Management Product Development Cost-effective Processes How was IT used to innovate Data Housing and Management?Cloud-web hosting provides a scalable server to meet the business's needs as they grow. Provides extra computing power making sure it always runs even if one server should crash. A load balancer manages resources by automatically adding/removing resources as needed.