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Related Flashcards
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Cards In This Set
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What is a set of two or more interrelated components that interact to achieve a goal?
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A System
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This occurs when a subsystem is inconsistent with the goals of another subsystem or with the system as a whole.
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Goal Conflict
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This occurs when a subsystem achieves its goals while contributing to the organization's overall goal.
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Goal Congruence
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These are facts that are collected, recorded, stored, and processed by an information system.
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Data
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This is data that have been organized and processed to provide meaning and improve the decision-making process.
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Information
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Occurs when the limits to the amount of information the human mind can absorb and process are passed, resulting in a decline in decision-making quality and an increase in the cost of providing that information.
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Information Overload
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This is used to help decision makers more effectively filter and condense information.
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Information Technology
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This is the benefit produced by the information minus the cost of producing it.
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Value of Information
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This is a set of related, coordinated, and structured activities and tasks that are performed by a person or by a computer or a machine, and that help accomplish a specific organizational goal.
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A Business Process
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This is an agreement between two entities to exchange goods or services or any other even that can be measured in economic terms by an organization. Examples: selling goods to a customer, buying inventory from suppliers, and paying employees.
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A Transaction
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The process that begins with capturing transaction data and ends with informational output, such as the financial statements, is called this.
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Transaction Processing
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Many business activities are pairs of events involved in a _________ type of exchange.
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Give-Get Exchange
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These Give-Get exchanges can be grouped into five major _______________ cycles.
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Business Processes or Transaction Cycles
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This is the cycle where goods and services are sold for cash or a future promise to receive cash.
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Revenue Cycle
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This is the cycle where companies purchase inventory for resale or raw materials to use in producing products in exchange for cash or a future promise to pay cash.
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Expenditure Cycle
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