The Second Step in the OMIS Model Is ________

question 89

Multiple Choice

The second step in the OMIS model is ________.

• A) to identify information systems that can improve the process
• B) to specify and, if possible, improve how each objective is measured
• C) to improve the objectives for the process
• D) to improve control of the process

---

Definitions:

Revenue Maximization

A strategy or objective focused on increasing the total income generated from sales or services, without necessarily maximizing profit.

Cournot Equilibrium

The Cournot equilibrium is a concept in economic theory where firms reach a state of balance in quantity and price in a duopoly, where each firm's output decision best responds to the output decision of the other firm.

Downward-Sloping

A term describing a curve or line that decreases in value as it moves from left to right, often used to describe demand curves in economics.

Cournot Equilibrium Price

A concept in oligopoly theory where each firm chooses its quantity to maximize profit, assuming the other firms' quantities remain fixed, leading to a stable market price.