Chapter 2

Important Points Extracted

· What is MIS?

Management Information Systems (MIS) is a study of people, technology, organizations, and the
relationships among them.

· Purpose of MIS:

• MIS collects data about your employees, processes, inventory, etc., then analyzes that data,
and provides managers with useful information to make decisions

The importance of MIS for Business ·

·MIS helps in decision making, provides timely and accurate information, increases the
operational efficiency, keeps the record of customer activity and provide marketing and
customer service

· Careers in MIS:

· Career options in MIS: IT Consultant, Web Developer, Business Intelligence Analyst,

Systems Developer, Database Administrator, etc.,

· Skills Required for MIS Professionals:

· Technical skills (e.g., programming languages, database management),

o ABSTRACT THOUGHT (e.g., deconstructing big data)

Examples include communication skills (e.g. explaining complex concepts),

· Problem-Solving (for example, recognizing and resolving problems),

Deadline Task Management (e.g. Project)

· Flexibility and Ongoing Development (e.g., keeping up with emerging Tech solutions)

Secrets in Midterm QA (Extracted from the content)

Q1 — What is a MIS in business?

Answer : MIS is important for decision making because it provides the managers with the right
information from various sources (employee data, processes, and inventory). It enables better
decision-making, streamlining of business processes, and enhancing customer interactions,
thereby increasing business performance.

Question 2: Why MIS is important for businesses?

Answer: MIS helps the businesses to have data which makes it easy for the people to take
decisions, improved efficiency of the operation, helps in following the customer trends, and
helps in preparing of targeted marketing plans

Q3: What skills do an MIS professional need?

Page 6–8 Key Skills: Technical skills, including programming and database manipulation skills
Analytical Skills Communication skills Problem-solving skills Project management skills

Bite Size Questions and Answer Summaries (Real Case Studies)

MIS or management information system is the computer based system and it is used for making
the decision in the company.

Answer: MIS gives decision-makers accurate timely data to make informed decisions. An
example of this: An e-commerce firm can employ MIS to monitor stocks, anticipate demand, and
take decisions on the replenishment of products.

Q2: What are the career options available in MIS?

aMIS Careers: There is variety of career options in MIS likeIT consultanton,Web

contributeor,Business analyst,and Database administrator. For instance — a business analyst
works for a retail firm and he/she needs to analyze and derive insights from data in such a way
that — it helps the firm improve its customer service to customers.

Q3: What role do communication skills play in an MIS professional's career?

Answer: Because communication skills are very important in this role so they need to explain
complex technical details in an understandable way. For instance, an IT consultant might have
to communicate the implementation of a new software system to a team of non-technical staff
and make sure they know how to properly implement the software.
 Chapter 3
Definition of Information Systems (IS): An IS is a system for collecting, storing, and
processing data that supports decision-making and control in an organization.

Data vs. Information:

Data is raw facts, for example, transactions in a business (sales history, product description,
etc.).

Information: It is the output of Data Processing, which gives relevant insights to

decision-making (e.g. total sale of a particular product or the sales performance of a store in a
particular region.)

Functions of an Information System: Input: Collecting raw data.Processing — converting the

information from the data into something that means more than the data itself. Information:
Sharing processed data to the right human or machine. Output: This is the result that was
fetched returns to users along with the ability to evaluate and revise decisions or processes.

Business Value of IS:

· Organizations feature IS to create its value, enhance profit and better decision making.

Business processes have information systems that help to improve the movement of
information, coordination, and efficiency. Returns in IS may come in the form of productivity,
top-line revenue growth, or long-term value creation.

Dimensions of IS:

· Human Resources: Employees who interact with the system.

· Organization — the broader environment including the structure, culture, and processes that
influence the use of an IS.

a. TechnologyIt includes the hardware, software, networks, and data management systems that
enable the IS.

Levels of Management in Organizations:

· Senior Management: Strategic decision-makers.

· Middle Management: Tactical decision-makers, ensuring financial performance, acting as an

arm of the senior management. Operational Management: everyday business activities
Knowledge Workers — Employees who contribute new knowledge to the firm.

Data Workers: Staff who are involved in processing and communicating data.
Complementary Assets:

Complementary resources are not just data but also complementary assets(i.e., business
model, process, trained-eye) that help organizations, not only gain information, but also
ensure organizations gain all the benefits of the information system

Chapter 4
Short Questions with Answers:

What is MIS (Management Information Systems)

Management Information Systems safely dispose of systems that handle the data in a way that
is useful for decision-making, as well as business operations.

What are the technological innovations into MIS?

Use of cloud computing, big data, IoT, AI & machine learning, business analytics, social network
for business purposes.

How is e-commerce expanding?

E-commerce with USD 3.6 trillion in revenues (2019) is transforming how firms design, produce
and deliver goods/services.

What is mobile e-commerce growth?

Currently, it grew over 30% year-on-year with benefits from social media, mobile.

What is Big Data Analytics?

Big Data deals with gigantic datasets coming from sources like web traffic, social media, and
sensors, and is used for predictive modeling and decision-making.

Every technology has its pros and cons so does cloud computing. Savings, productivity,
efficiency, speed, and security.

What is Web 2.0?

An interactive web that improves user experience in the website by using user generated data
and social media platforms.

Q) How do business models change with information technology?

Digitalization It is the driver of new business models and new forms of digital platform activity,
digital commerce and new types of services streaming or digital music etc.

What is the strategic goals of information systems?

Efficiency, product and service innovation, customer intimacy, better decision making,
Competitive Advantage & Survival.

What is the role of information system in business?

Support business processes, augment decision making, enable digital transformation of internal
and external processes and relationships.

Medium-Short Questions with Answers:

In what way mobile digital platforms create business value

They act as intermediaries to link buyers with sellers, provide affordable marketing solutions,
and facilitate effective communication.

2. What are the challenges of globalization in regard to information systems?

Globalization brings competition; global economy is driven by new skills, new markets, and new
opportunities.

Why is customer and supplier intimacy important in business?

Happy customers return as buyers, and good suppliers reduce costs, maximizing business
benefits.

How can companies utilize real-time data to make better business decisions?

For instance, some companies like Privi Organics use integrated systems to receive employee
performance data instantly, which helps them in making faster decisions.

What competitive advantages are and why they matter in business.

Meeting objectives such as reduced prices, improved product quality, and faster customer
response provide firms with a competitive advantage.

Digital firms space shifting and time shifting

Work is space shifted so that it can be performed anywhere globally and time shifts are enabled
to do business 24 hours a day, seven days a week—not just during normal business hours.
How do firms in digital make things more effective and do them more productive?

• Firms adopt advanced technologies such as cloud computing, big data, and machine learning
to enhance their operations and processes.

How does cloud computing play a role in business?

Cloud computing enables businesses to convenient access services such as storage,

databases, and software, increasing efficiency while reducing costs.

Example of MIS Impact: How Walmart Rides onMIS for Operational Excellence of Its
Businesses?

Information system: Walmart real-time inventory control system for efficient operations and
enhanced sales

Why Businesses Should Adopt Web 2.0: the Techno-Social Paradigm Shift

It encourages collaboration, improves social interaction and enables companies to use

user-generated content as a marketing and engagement strategy.

Chapter 5
Short Questions with Answers:

What are business processes?

Business processes are defined as the manner in which work is organized, coordinated, and
focused to produce a valuable product or service. · Answer: They depend on the flow of
material, information and knowledge between participants.

What is the relationship between information systems and business processes?

CS: Information systems support business processes by automating tasks, enabling and
supporting the information flow, which increases the efficiency.

What is the difference in functional and cross-functional business process?

Answer: Functional processes are processed in one department (for example, sales or finance)
and cross-functional processes are processed inside multiple departments (for example order
fulfillment, where sales, accounting and production departments are used).
Definition of Transaction Processing System (TPS)

The answer is that TPS focuses on day-to-day transactions such as sales order entry and
payroll and reservations. Even for the day to day functioning of the business, it is important.

Management Information System (MIS) Meaning

MIS presents middle managers with reports on the organization’s current performance to
monitor, control its current and predictable future activities.

What are DSS (Decision Support Systems)

Response: DSS assist with decision-making in new, dynamic situations. These mix in what
might be tuned information from TPS and MIS with outside information sources.

Related: What is an Executive Support System (ESS)?

Essence: ESS assists top management in making nonroutine decisions by providing data or
trends that are easy to use.

Medium-Length Questions with Answers:

What is the Effect of Business Processes on the Performance of a Firm?

Answer: Efficient business processes can improve a firm’s competitiveness through better
innovation and better execution. These processes may not only take time but also slow down
response times and efficiency.

What are the types of Business Intelligence Systems and what do they provide?

What are the types of Business Intelligence systems?Answer: There are three types of
Business Intelligence systems:Management Information Systems (MIS)Decision Support
Systems (DSS)Executive Support Systems (ESS) Management Information System (MIS)
assists middle management in monitoring and controlling the operations; Decision Support
System (DSS) aids decision-making in the case of unique or non-repetitive problem instances,
and Executive Support System assists senior management in the nonroutine decisions.

How does Information Technology (IT) enhance the processes of a business?

IT helps automate manual works, improve information flow, work on parallelism and speed up
the decision cycle. It will go so biting as to change business models and operations for years to
come.
What is a Transaction Processing System (TPS) for payroll?

Q: What is a TPS for payroll?A: A TPS for payroll will track employee payment
information back to employee records and create paychecks. This ensures right payroll
processing and reporting.

How does Decision Support system (DSS) help in decision making in rapidly changing
conditions?

DSS incorporates internal and external data and uses advanced models and tools to help
managers find a better way to solve an unstructured or semi structured problem, e.g., market
analysis, simulating different voyage-estimating systems.

What is the role of executive support system (ESS) in strategic decision-making?

Answer: ESS helps the senior management to monitor the trends of data, predict the future
happenings and take decisions based on the summarized as well as detailed performance
information.

Chapter 7
Short Questions and Answers

Enterprise applications are enterprise applications with one main purpose.

Solution: Coordinate and integrate business processes to manage and serve customers
enabling businesses to become agile and efficient.

What are the 4 main types of enterprise applications?

Answer: Enterprise Systems (ERP), Supply Chain Management Systems (SCM), Customer
Relationship Management Systems (CRM), Knowledge Management Systems (KMS)

So what is ERP and why do we need it?

Answer: ERP stands for Enterprise Resource Planning. This unifies business processes in
manufacturing, finance, sales, and HR into a single system.

How does an ERP system work?

Answer: An order creates warehouse picking, restocking, invoicing, and order tracking when an
order is placed.
What is the function of Supply Chain Management Systems?

What are SCM systems and how do they help to improve supplier, distributor, or partner
relationships?SCM systems are designed to keep track of production processes that
usually stretch across multiple companies, making them both beneficial and complex to
implement. What Exactly is a CRM And How Does It Benefit the Business?

CRM — Customer Relationship Management It assists in customer relationship management,

sales increase, and customer satisfaction, retention.

KMS — What are Knowledge Management Systems?

View answer — KMS assist in capturing and sharing knowledge and expertise within the
organization to strengthen the business processes and decision-making.

What is an intranet?

What is an intranet? A: An intranet is a company website that can only be accessed by

employees to get access to documents, news, and to be able to connect with a colleague?>

What is an extranet?

What is an extranet? A: An extranet is a private network that grants outsiders — such as

suppliers and customers — access to certain information from a company.

What is e-business?

E-business is the gamut of functional business processes (internal and external to an

organization) that use digital technology and the Internet.

The different between e-business and e-commerce

What is e-commerce and how does it differ from e-business? · A: E-commerce is a segment of
e-business thats aimed toward the buying and selling of goods/services over the Internet.

What does e-government refer to?

E-Government uses Internet technologies to streamline the operations of government, making it

easier for citizens to access services
Medium Short Questions and Answe

How can ERP system enhance the business processes?

What is ERP: Why do companies use ERP: How do companies ensure that the value of their
investment in ERP becomes visible and tangible?

What are the advantages of Supply Chain Management Systems?

Answer: SCM systems can enhance profitability by eliminating unnecessary costs in production
and distribution; it controls the sourcing, production, and inventory processes.

But why does a business need a CRM system?

What is the value of a CRM? A: CRM systems can be incredibly beneficial to businesses as
they allow a business to manage interactions with customers, enhance customer service,
discover profitable customers, and increase retention and revenue.

How they can implement Knowledge Management Systems (KMS) in an organization?

Answer: In making collective minds and know-how available, KMS allows organizations to
identify and implement better choices more quickly and also carry out their businesses more
effectively.

What is the difference between intranet and extranet based on their access?

What is the difference between an intranet and an extranet? A: An intranet is used for employee
access internally only and an extranet is used for limited outside access to authorized outsiders
(suppliers, customers)

Main roles of e-government—First one is role of e-government.

Why should democratic states do e-government?

Answer: E-government increase the efficiency of government activity and provide citizens easy
access to the governmental services e.g e-passports, national ID system

Role of enterprise applications in customer service

Enterprise applications help automate these business processes, allowing for timely delivery of
products, invoicing and customer communication, improving service and consequently customer
satisfaction.
 Chapter 9
Short Questions:

What is E-commerce?

E-commerce encompasses digitally enabled transactions which are conducted on the Internet
and where the exchange is the product or service (value) for data.

Which are the fastest growing types of E-commerce?

Social mobile and local commerce constitute the fastest growing e-commerce sectors.

What is the impact of e-commerce on small businesses?

More and more, small businesses are coming online, using things like Amazon (that makes
everything available to them) and the cloud.

This leads on to how much of an impact do smartphones and/or tablets have on e

commerce?

Smartphones and tablets access music, entertainment and e-commerce, increasing

accessibility.

What is disintermediation in e-commerce?

Disintermediation is removing middlemen (travel agent) to lower costs and increase profit
margin.

What are digital goods?

Digital goods are items such as music, video, software, and e-books that are delivered over the
Internet.

Definition: Standards that are universally recognizedWhat is the universal standard meaning
for e-commerce?

With universal standards come broader compatibility across the globe, lowering costs for market
entry and making product searches easier for consumers.

So how does e-commerce "richness" translate to e-commerce?

The idea of richness captures the degree to which messages are communicated in terms of the
variety of media that can be utilized—text, audio and video.
Why should e-commerce care about information density?

By providing more, accurate, and timely information, information density assists merchants and
consumers to make better decisions.

How does personalization/customization benefit e-commerce?

Personalization tweaks your marketing according to the customer behavior whereas

customization, on the other hand, adjusts the product according to your preference.

E-Commerce and Social Technology What is social technology

Social technology gives ability to its users to generate, share and paginated content, allowing to
build networks and allowing for global user engagement.

Medium Short Questions:

Explain the growth of e-commerce.

Well, this is the spiral growth of e-commerce companies waiting where more services are being
offered, well—- businesses outlining their business for profit, small businesses getting into
Amazon etc. The growth of mobile commerce and digital entertainment also continues.

In what way do digital markets differ from traditional markets?

Compared to traditional markets, they provide greater transparency, including dynamic pricing
features, and they reduce transaction costs by disintermediation.

How does the Internet influence markets for digital goods?

Digital products are easy to distribute, have low marginal costs, and are protected by copyright
laws. Their physical counterparts are seeing less sales.

What makes e-commerce ubiquitous?

Unlike before, E-commerce can be anytime and anywhere by mobile, reducing transaction cost
and making it more convenient for customers.

What does global reach mean for e-commerce?

Through e-commerce, a business will be able to reach consumers around the world, crossing
the national barrier and making the world a marketplace.
Why are universal standards needed across e-commerce?

The ubiquitous standards significantly lower both market entry costs for merchants and search
costs for consumers through global interoperability.

Within the context of information density, how do online retailers utilize it for pricing?

Melhorar a experiência do consumidor e a medida que os comerciantes com aumentaram a

densidade abrating em do mercado eles pode, desafiar o dinamismo do preço do poder
consumer-based de acordo com a demanda.

Advantages Of Interactivity In E-Commerce.

Online shopping experience is more personal and engaging like face to face interaction due to
the use of interactivity, which allows two-way communication.

E-commerce Technologies Supporting Social Networks

Social and content creation tools that boost e-commerce technologies to harness user input to
help build community may also help to foster a deeper sense of community among users.

Chapter 9
Short Questions and Answers:

What is B2C e-commerce?

What is B2C e-commerce? A: B2C e-commerce refers to businesses that sell goods or services
directly to individual consumers over the internet (for example, Daraz, Foodpanda).

What is B2B e-commerce?

Solution: B2B e-commerce means all online trades of goods or services between businesses
(for instance, Daraz to Business)

What is C2C e-commerce?

Explanation: C2C e-commerce is when consumers sell to other consumers, often through
platforms like Bikroy. com or Facebook Marketplace.

What is a portal in e-commerce?

A portal is a website that opens the web (Wikipedia) and offers specialized content and services
(e.g., Google, Yahoo).
What is an e-tailer?

Answer: An e-tailer sells tangible goods to customers via virtual shops or branch offices of
physical stores (i.e., Walmart.). com).

What is a content provider (providers of shopping experiences)?

Question: What is Content provider?Answer: A content provider is a digital content (news, music
and videos) provider for the web to monetize by advertising or charging a subscription fee
(iTunes).

What is a transaction broker?

Answer: Transaction broker is an online intermediary who only processes simple payments, like
PayPal, bKash, etc. between the buyer and seller

In e-commerce, what is a market creator?

Explanation: A market creator is a place where different people can come and go for buying and
selling items (for example — Bikroy. com, Uber).

What is a service provider in ecommerce?

What is a service provider?A: A service provider provides services that help offload the
heavy lifting of online transactions (Data storage, Software services (Google Apps, Office
365).

Community Provider is a type of provider in eCommerce.

Answer: Community provider — A community provider enables people to connect and share in
a dedicated interest-based platform (Example: Facebook, Instagram).

What is m-commerce?

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What does m-commerce mean in business? Benefits of M-commerce for businesses?

Here are Examples Of M-Commerce Applications

Examples include: mobile banking apps, travel booking apps, streaming apps like Netflix,
Spotify, fitness apps, AI chatbots, etc.
Medium-Length Questions and Answers:

What are the types of e-commerce?

Answer: B2C (Business to Consumer): The companies offer goods and services directly to
people online. Business to Business (B2B): Online trading of goods or services between
businesses. C2C (Consumer to Consumer): Consumers sell directly to other consumers through
services such as Facebook Marketplace.

What are e-commerce business models; but as we were planning to uncover this
curiosity in following lines, we thought to mention the five main types of e-commerce
models right now.

Answer: Portals: They offer entrance to the web and services (Google, Yahoo…);

E-tailers: Only sell physical products to the end consumer through a physical store or an online
store (ex: Walmart. com).

Content Providers: Deliver digital content for a price or for advertisement.(iTunes, news
websites)

Transaction Brokers Transaction broker is a service that processes transactions over the
Internet (for example PayPal or Stripe).

Creators of Marketplaces: Set up spaces where buyers and sellers can meet and conduct
business (ex: Bikroy. com, Uber). Service Providers — provide software, storage, or other tools
(ex: Google Apps, Office 365) Community Providers: Social networks that enable users to
socialize, communicate, and transact (e.g. Facebook)

How does m-commerce benefit businesses?

Answer:

M-commerce expands a business' market reach by enabling them to reach customers wherever
they are, day or night. With mobile application, it provides personalized marketing, real-time
customer assistance, and enhance inventory management.

Here are some of the main uses of m-commerce?

Answer:

Some examples of m-commerce applications are mobile banking, travel booking, streaming
(e.g., Netflix), fitness tracking apps, AI chatbots for shopping, digital ticketing for events, etc.
 Chapter 10
What is the Ad Revenue Model?

THE AD REVENUE MODEL: This model generates revenue for websites with high traffic
volume, as advertisers pay to place their ads on their site to potential visitors.

What would make the advertising revenue model so attractive?

Question: Why is it so widely use?· Answer: Content can be free for the visitors; advertisers pay
for its production and distribution.

Examples of advertising revenue model?

Solution: Google, Facebook, Instagram and YouTube — they all have a business model which is
based on advertising.

What Do We Mean By the Sales Revenue Model?

Answer: In this model, companies earn money by selling goods, services or information.

What is a micropayment system?

Answer:Micropayment involves a way forcost businesses to process smalltransaction low-micro

low business like charge iTunes on individual, music tracks.

What is Subscription Revenue Model?

Subscription (Businesses: Subscription models): Businesses charge their customers on a

regular schedule for access to content or services.

Which platforms utilize the subscription model?

Example: Netflix / Spotify / Amazon Prime (subscription base mode

What is the Free/Freemium Revenue Model?

Answer: Freemium model provides basic services free of charge while premium services or
features are paid for.

The Freemium model provides a great challenge for the Freemium model a
business model, especially on the internet, whereby basic services are provided
free of charge while more advanced features must be paid for.

.
The biggest challenge is converting free users into paid customers.

We have a transaction fee revenue model → What is the Transaction Fee Revenue
Model?

Answer: Companies make money by charging a fee for connecting buyers and sellers together.

What is Transaction Fee model — some examples of it?

eBay, bKash, payment gateway such as SSLCOMMERZ Charges? A: Yes.

Below is the Affiliate Revenue Model: The affiliate model is when businesses pay websites or
influencers a commission for sending visitors who end up making a purchase.

Why Is The Affiliate Revenue Model One Of The Advantages — in writing it.

Answer: Because businesses only pay when customers finalize a sale, risk is low.

What do businesses need to know when creating an e-commerce presence?

Response: They need to know their business goals and what technology should be used to get
there.

On what platforms would an e-commerce presence be built?

Response options: Websites, Email, Social media, Offline media

What is an e-commerce presence roadmap?

What does that depict? Like all the different platforms, websites, social media, email, and
what you do with them — marketing, engagement?

Stages of Setting Up an E-commerce Presence Phases consist of Planning, Website

Development, Web Implementation, and Social Media Strategy

How long does it take to get an e-commerce presence up and running?

How long does it take from start to finish? A: A standard timeline may cover a whole year
through various phases including planning, website development, social media integration,
mobile development, etc.