SHORT-ANSWER QUESTIONS (p. 62)
1. Why is the traditional buy-hold-sell inventory model an expensive and potentially risky one?
ANSWER: The traditional inventory model requires that (1) you create inventory without a known
demand, (2) you keep a lot of inv
SHORT-ANSWER QUESTIONS (p. 31)
1. What is the relationship between management information systems (MIS) and information
ANSWER: MIS is a broad business function and the study of the use of IT. IT is a set of tools and a
resource within MI
SHORTANSWER QUESTIONS (p. 92)
1. What is business intelligence? Why it is more than just information?
ANSWER: Business intelligence is knowledge knowledge about your customers, your competitors,
your partners, your competitive environment, and your own in
SHORT-ANSWER QUESTIONS (p. 123)
1. What are the four types of decision discussed in this chapter? Give an example of each.
ANSWER: Nonrecurring, or ad hoc, decision is one that you make infrequently (perhaps only once) and
you may even have different crit