Question

In your own words, explain 'structured decisions’?

What is ‘value chain’?

Define ‘E’ Business.

What is a Data Flow Diagram (DFD)?

Answer 1

'structured decisions: Structured decisions have a well defined methodology for finding solutions and have data to reach a decisions. The aggregated data is required in order to make decisions which has a backing of well structured decisions.

Value Chain: Value is the characteristics, attributes, features for which consumers are ready to pay a price. Value chain is the entire series of organisational activities or work that adds value at each step or say at each process, starting with the conversion of rawmaterials into semifinished goods and then to finished goods. Value chain management is the integration of all the activities channel .

'E' Business: E business is the modern way of doing business, where the order is placed based online with the help of technologies and internet network. It is accepted, negotiated through internet, leading to ultimately entire transaction being processed online and also the payment mechanism is also done through online.

Data Flow Diagram: It is a graphical representation of a firm's enterprise system. This diagram lists the components, sources, flows, destinations and where the data has been stored.