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Related Flashcards
Related Topics
Cards In This Set
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What is Economic Value Added (EVA)?
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The amount by which company profits exceed the cost of capital in a given year.
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Why is Economic Value Added (EVA) important?
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- Shows whether a business, division, department, profit center, or product is paying for itself.
- Makes managers at all levels pay closer attention to their segment of the business. |
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An article on public libraries contained the following
statement: "The balanced scorecard helps organize and run the library
according to a specific strategic plan, while demonstrating the library's value
to the community as a whole." When dealing with this area of the balanced
scorecard, the article advised librarians to ask, "How can the library
continue to improve and create value?"
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Innovation and learning perspective
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The first company to use new information technology to substantially lower costs or differentiate products or services often gains what?
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First mover advantage
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Facts + figures
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Raw data
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Useful data that influences choices.
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Information
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Using information technology to continuously improve and support the core functions of a business.
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Competitive advantage
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The process of discovering patterns and relationships in
large amounts of data, such as how many people buy beer and pretzels together,
how many people buy gasoline and oil together, or how many people buy soft
drinks from a particular machine on campus.
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Data mining
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A private company network that allows employees to easily access, share, and publish information using Internet software.
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Intranet
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A manufacturer of pharmaceuticals can access information about its sales and share new product information with drug store chains through the use of what?
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Electronic Data Interchange (EDI)
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- Uses internal and external dat.
- Used to monitor and analyze organizational performance.
- Must provide
accurate, complete, relevant, and timely information to managers.
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Executive Informaton System (EIS)
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Companies that use electronic data interchange, extranets,
and the Internet to gain a competitive advantage have experienced what?
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Higher productivity
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An information system that helps managers understand
specific kinds of problems and potential solutions by acquiring and analyzing
information with sophisticated models and “what if” scenarios.
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Decision Support System (DSS)
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Information systems that contain the specialized
knowledge and decision rules used by experts and experienced decision makers so
that nonexperts can draw on this knowledge base to make decisions. They often use a collection of “if-then” rules
to sort through information and recommend a course of action.
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Expert systems
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A measure of performance that indicates how many inputs it takes to produce or create an output.
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Productivity
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