Terminology of International Business.

What do you understand by International Business? Explain the terminology of International Business. Answer: International Business conducts business transactions all over the world. These transactions include the transfer of goods, services, technology, managerial knowledge, and capital to other countries. International business involves exports and imports. International Business is also known, called or referred as a Read More

Intelligent Support Systems.

What is Intelligent Support Systems? Discuss about the Decision support systems (DSS), Executive information systems (EIS) and Artificial intelligence and expert systems (AIES) Answer: Intelligent support systems (ISS) are systems that facilitate decision requiring the use of knowledge, intuition and experience. Systems that fall into this category are: A. Decision support systems (DSS): Decision support Read More

Transaction processing systems.

Discuss the characteristics and steps of transaction processing systems. Answer: A transaction processing system is an information system that records company transactions (a transaction is defined as an exchange between two or more business entities). A transaction processing system meets the needs of operational managers; the output of the TPS becomes the input to an Read More

Importance of Management Information System.

Why students should study Management Information System? Why organization’s Need Information Systems? Answer: Today, every student, regardless of his or her area of specialization, must have a solid foundation in the theory and principles of information systems. There are several reasons for this. First, in an information-based society, the primary output of organizational workers consists Read More

Management Information System.

  Scopes of Management Information System. Answer: Management information systems are a broad class of systems that provide decision makers with the information necessary to make effective decisions in a world that has almost overnight become an “electronic showroom”. Such systems are competitive tools that allow organizations to create new, innovative products and service quickly, Read More

Market Prediction

Analyze the Research and Development Strategies.

Answer: Of all the business functions, investment in research and development often introduces the most spectacular results. Examples include Xerox’s twenty-five of the domination of the photocopier market after the company’s initial development of the innovation. Strength: Matching of R& D strategy with R&D skill. Matching of R&D strategy with the strategy of product life Read More

Market Prediction

What is generic strategy? Discuss the different types of generic strategies.

Answer: Generic strategy means one kind of competitive strategies that may take various firms within a given industry to cope their capabilities. Actually, it is a broad competitive strategy that a firm can take to gain competitive advantages. There are three types of generic strategy: Cost leadership. Differentiation Focus strategy 1. Cost leadership: Though cost Read More