When an Organization Uses Information Technology to Develop Products, Services

question 76

True/False

When an organization uses information technology to develop products, services and capabilities in order to gain a strategic advantage over competitive forces in the global marketplace, it is using information systems in a strategic role.

Analyze additional business considerations based on variable and fixed costs.

Understand relevant and irrelevant costs for decision making.

Identify the steps involved in managerial decision-making.

Understand the concept of opportunity cost in decision making.

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Definitions:

Understand The World

The capacity to grasp, comprehend, and interpret the nature, significance, or explanation of things around us.

Sucking Thumb

A natural reflex for babies and young children that serves as a mechanism for self-soothing and emotional regulation.

Sensorimotor Development

Piaget's first stage of cognitive development (from birth to about 2 years of age), where infants learn through interacting with their environment using their senses and motor actions.

Sensorimotor Intelligence

Jean Piaget's stage of cognitive development from birth to about age 2, where infants learn about the world through their sensory impressions and motor activities.