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ch 1
29
Accounting
Undergraduate 3
10/14/2010

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Term
access based strategic position
Definition
a strategic position that serves a subset of customers who differ from other customers in terms of factors such as geographic location or size
Term
accounting information system
Definition
a system that collects, records, stores, and processes data to produce information for decision makers. Has six components: people, procedures and instructions, data, software, information technology infrastructure, and internal controls and security measures.
Term
Data
Definition
facts that are collected, recorded, stored, and processed by an information system to produce information.
Term
discretionary information
Definition
Information that is available only to certain internal users.
Term
essential information
Definition
Information required to conduct business with external parties (such as purchase orders and customer billings)
Term
goal conflict
Definition
Occurs when a decision or action of a subsystem is inconsistent with another subsystem or the system as a whole
Term
goal congruence
Definition
Is achieved when a subsystem achieves its goal while contributing to the organizations overall goal
Term
information
Definition
Data that has been organized and processed to provide meaning to the user.
Term
information overload
Definition
The state in which additional information cannot be used efficiently and has no marginal value.
Term
Integration
Definition
Eliminating duplicate recording, storage, reporting, and other processing activities in an organization.
Term
low cost strategy
Definition
Striving to be the most efficient producer of a product or service.
Term
management control
Definition
Activities by management designed to motivate, encourage, and assist officers and employees in achieving corporate goals and objective as effectively and efficiently as possible.
Term
needs based strategic position
Definition
Trying to serve most or all of the needs of a particular group of customers in a target market.
Term
operational control
Definition
Decisions that are concerned with the efficient and effective performance of specific task in an organization.
Term
predictive analysis
Definition
Uses data warehouses and complex algorithms to forecast future events, bases on historical trends and calculated probabilities.
Term
primary activities
Definition
Activities in the value chain that are performed to create, market, and deliver products and services to customers and provide post delivery service and support.
Term
product differentiation strategy
Definition
Adding features or services not provided by competitors to a product to be able to charge customers a premiums price.
Term
semi-structured decision
Definition
Decisions that require subjective assessment and judgment to supplement formal data analysis.
Term
strategic planning
Definition
Decisions that establish the organizations objectives and policies for accomplishing those objectives.
Term
structured decision
Definition
Decisions that are repetitive, routine, and understood well enough that they can be delegated to the lower level employees of an organization.
Term
supply chain
Definition
An extended system that includes an organizations value chain as well as its suppliers, distributors and customers.
Term
support activities
Definition
Activities in the value chain that enable the primary activities to be performed efficiently and effectively. Examples include administration, purchasing, and human resources.
Term
Synergy
Definition
When an entire system or organizational activities is greater than the sum of each individual part.
Term
System
Definition
A set of interrelated components that interact to achieve a goal.
Term
System concept
Definition
A systems analysis principle that states that changes in subsystems cannot be made without considering the effect on other subsystems and the system as a whole.
Term
unstructured decision
Definition
Nonrecurring and non routine decisions that require considerable judgment and intuition. No frame work or model exists to solve such problems.
Term
value chain
Definition
The linking together of all primary and support activities in a business.
Term
value of information
Definition
The benefit produced by the information minus the cost of producing it
Term
variety based strategic position
Definition
Producing or providing a subset of the industries products or services.
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