Ch1 Test Bank Management Information Systems Business Driven - M Information Systems 5th Edition | Test Bank with Answer Key by Paige Baltzan by Paige Baltzan. DOCX document preview.
M: Information Systems, 5e (Baltzan)
Chapter 1 Management Information Systems: Business Driven MIS
1) Companies today are successful when they combine the power of the information age with traditional business methods.
2) Competitive intelligence is information collected from multiple sources such as suppliers, customers, competitors, partners, and industries that analyzes patterns, trends, and relationships for strategic decision making.
3) Business intelligence is information collected from multiple sources such as suppliers, customers, competitors, partners, and industries that analyzes patterns, trends, and relationships for strategic decision making.
4) The information age is the present time, during which infinite quantities of facts are widely available to anyone who can use a computer.
5) Technology provides countless business opportunities, but can also lead to pitfalls and traps for a business.
6) Top managers use social intelligence to define the future of the business, analyzing markets, industries and economies to determine the strategic direction the company must follow to remain unprofitable.
7) A variable is a business intelligence characteristic that stands for a value that cannot change over time.
8) A fact is the confirmation or validation of an event or object. In the past, people primarily learned facts from books.
9) Zappos is not a technology company; its primary business focus is to sell books.
10) Order date, amount sold, and customer number are all forms of data.
11) Choosing not to fire a sales representative who is underperforming knowing that person is experiencing family problems is a form of knowledge.
12) Information is data converted into a meaningful and useful context. The truth about information is that its value is only as good as the people who use it. People using the same information can make different decisions depending on how they interpret or analyze the information.
13) The Internet of Things (IoT) is a world where interconnected, Internet-enabled devices or "things" can collect and share data without human intervention.
14) Machine to machine (M2M) refers to devices that connect directly to other devices.
15) The Internet of Things (IoT) refers to devices that connect directly to other devices.
16) Predictive analytics extracts information from data and uses it to predict future trends and identify behavioral patterns.
17) Predictive analytics is a world where interconnected, Internet-enabled devices or "things" can collect and share data without human intervention.
18) Top managers use predictive analytics to define the future of the business, analyzing markets, industries, and economies to determine the strategic direction the company must follow to remain profitable. Tony will set the strategic direction for his firm, which might include introducing new flavors of potato chips or sports drinks as new product lines or schools and hospitals as new market segments.
19) Machine to machine (M2M) extracts information from data and uses it to predict future trends and identify behavioral patterns.
20) Knowledge workers are individuals valued for their ability to mitigate risk and implement critical human resource rules and regulations.
21) Using only data and information to make decisions and solve problems is the key to finding success in business. These are also the only core drivers of the information age and the building blocks of business systems.
22) Big data is a collection of large complex data sets, including structured and unstructured, which cannot be analyzed using traditional database methods and tools.
23) Big data is a view of data at a particular moment in time.
24) A snapshot is a view of data at a particular moment in time.
25) A static report can include updating daily stock market prices or the calculation of available inventory.
26) A dynamic report can include updating daily stock market prices or the calculation of available inventory.
27) Business analytics is the scientific process of transforming data into insight for making better decisions.
28) Descriptive analytics use techniques that describe past performance and history.
29) Predictive analytics use techniques that extract information from data and use it to predict future trends and identify behavioral patterns.
30) Prescriptive analytics use techniques that create models indicating the best decision to make or course of action to take.
31) Knowledge assets, also called intellectual capital, are the human, structural, and recorded resources available to the organization.
32) Knowledge assets reside within the minds of members, customers, and colleagues and include physical structures and recorded media.
33) Knowledge facilitators help harness the wealth of knowledge in the organization.
34) Descriptive analytics is the scientific process of transforming data into insight for making better decisions.
35) Business analytics use techniques that describe past performance and history.
36) Prescriptive analytics use techniques that extract information from data and use it to predict future trends and identify behavioral patterns.
37) Predictive analytics use techniques that create models indicating the best decision to make or course of action to take.
38) Analytics, also called intellectual capital, are the human, structural, and recorded resources available to the organization.
39) Predictive analytics use techniques that create models indicating the best decision to make or course of action to take.
40) Structured data extracts information from data and uses it to predict future trends and identify behavioral patterns.
41) Unstructured data extracts information from data and uses it to predict future trends and identify behavioral patterns.
42) Structured data is data that has a defined length, type, and format and includes numbers, dates, or strings such as Customer Address.
43) Unstructured data is data that is not defined and does not follow a specified format and is typically free-form text such as emails, Twitter tweets, and text messages.
44) Unstructured data is data that has a defined length, type, and format and includes numbers, dates, or strings such as Customer Address.
45) Structured data is data that is not defined and does not follow a specified format and is typically free-form text such as emails, Twitter tweets, and text messages.
46) Unstructured data extracts information from data and uses it to predict future trends and identify behavioral patterns.
47) Companies update business strategies continuously as internal and external environments change.
48) The finance department performs the function of selling goods or services.
49) The marketing department supports sales by planning, pricing, and promoting goods or services.
50) The operations management department manages the process of converting or transforming resources into goods or services.
51) The accounting and finance departments primarily use monetary data.
52) The sales and marketing departments primarily use monetary data.
53) For an organization to succeed, every department or functional area must work independently to be most effective.
54) Successful companies today operate cross-functionally, integrating the operations of all departments.
55) MIS is a tool that is most valuable when it leverages the talents of people who know how to use and manage it effectively.
56) The chief technology officer is responsible for ensuring the security of business systems and developing strategies and safeguards against attacks from hackers and viruses.
57) The chief security officer is responsible for ensuring the security of business systems and developing strategies and safeguards against attacks from hackers and viruses.
58) The chief data officer is responsible for ensuring the speed, accuracy, availability, and reliability for MIS.
59) The chief privacy officer is responsible for ensuring the ethical and legal use of information within a company.
60) The business decisions made by the marketing department include promotional data, sales data, and advertising data.
61) The business decisions made by the human resources department include employee data, promotion data, and vacation data.
62) The business decisions made by the finance department include investment data, monetary data, and reporting data.
63) The business decisions made by the accounting department include transactional data, purchasing data, payroll data, and tax data.
64) The business decisions made by the sales department include potential customer data, sales report data, commission data, and customer support data.
65) The business decisions made by the operations management department include manufacturing data, distribution data, and production data.
66) The business decisions made by the finance department include promotion data, sales data, and advertising data.
67) The business decisions made by the accounting department include employee data, promotion data, and vacation data.
68) The business decisions made by the human resources department include investment data, monetary data, and reporting data.
69) The business decisions made by the marketing department include transactional data, purchasing data, payroll data, and tax data.
70) The business decisions made by the human resources department include potential customer data, sales report data, commission data, and customer support data.
71) The business decisions made by the accounting department include manufacturing data, distribution data, and production data.
72) The chief data officer is responsible for overseeing all uses of MIS and ensuring that MIS strategically aligns with business goals and objectives.
73) The chief knowledge officer is responsible for collecting, maintaining, and distributing company knowledge.
74) Most organizations maintain positions such as chief executive officer (CEO), chief financial officer (CFO), and chief operations officer (COO) at the strategic level.
75) The chief knowledge officer is responsible for overseeing all uses of MIS and ensuring that MIS strategically aligns with business goals and objectives.
76) The chief knowledge officer is responsible for collecting, maintaining, and distributing company knowledge.
77) The chief data officer (CDO) is responsible for determining the types of information the enterprise will capture, retain, analyze, and share.
78) The chief data officer (CDO) is responsible for ensuring the throughput, speed, accuracy, availability, and reliability of an organization's information technology.
79) The chief technology officer (CSO) is responsible for ensuring the security of MIS systems and developing strategies and MIS safeguards against attacks from hackers and viruses.
80) The chief privacy officer (CPO) is responsible for ensuring the ethical and legal use of information within an organization.
81) The chief intellectual property officer (CIPO) is responsible for collecting, maintaining, and distributing the organization's knowledge.
82) The chief security officer (CSO) is responsible for ensuring the security of MIS systems and developing strategies and MIS safeguards against attacks from hackers and viruses.
83) According to Fast Company magazine, a few executive levels you might see created over the next decade include chief intellectual property officer, chief automation officer, and chief user experience officer.
84) The difference between existing MIS workplace knowledge and the knowledge required to fulfill the business goals and strategies is called an MIS skill set.
85) Most CTOs do not possess a well-rounded knowledge of all aspects of MIS, like hardware, software, and telecommunications.
86) Many CPOs are lawyers by training, enabling them to understand the often complex legal issues surrounding the use of information.
87) Common approaches to closing an MIS skills gap include social recruiting, off-site training, mentoring services, and competitive salaries.
88) MIS skills gap is the difference between existing MIS workplace knowledge and the knowledge required to fulfill the business goals and strategies.
89) Closing the MIS skills gap by aligning the current workforce with potential future business needs is a simple proposition.
90) In many instances, an MIS job will remain unfilled for an extended period of time when an employer needs to hire someone who has a very specific set of skills. In recruiting lingo, such candidates are referred to as purple turtles.
91) Goods are material items or products that customer's will buy to satisfy a want or need.
92) Waiting tables, teaching, and cutting hair are all examples of services that people pay for to fulfill their needs.
93) An overview of systems thinking includes input, process, output, and finances.
94) A stakeholder is a person or group that has an interest or concern in an organization. Stakeholders drive business strategies, and depending on the stakeholder's perspective, the business strategy can change.
95) It is not uncommon to find stakeholders' business strategies have conflicting interests such as investors looking to increase profits by eliminating employee jobs.
96) Cars, groceries, and clothing are all examples of goods.
97) Production is the process where a business takes raw materials and processes them or converts them into a finished product for its goods or services.
98) Productivity is the rate at which goods and services are produced based upon total output given total inputs.
99) Lettuce, tomatoes, patty, bun, and ketchup are included in the output of making a hamburger.
100) Cooking a patty and putting the ingredients together are included in the process of making a hamburger.
101) Bread, cheese, and butter are included in the process of making a grilled cheese sandwich.
102) A grilled cheese sandwich is considered the final output of a making-a-sandwich process.
103) If a business could produce the same hamburger with less expensive inputs it would probably see a decrease in profits.
104) If a business could produce more hamburgers with the same inputs it would see a rise in productivity and possibly an increase in profits.
105) A leadership plan that achieves a specific set of goals or objectives is a business strategy.
106) When a company is the first to market with a competitive advantage, it gains a particular benefit known as competitive intelligence.
107) To combat business challenges, leaders communicate and execute business strategies (from the Greek word stratus for "army" and ago for "leading").
108) Businesses rarely need to update business strategies as the business environment remains relatively stable.
109) Attracting new customers, decreasing costs, and entering new markets are all examples of successful business strategies.
110) Decreasing customer loyalty, increasing costs, and decreasing sales are all examples of business strategies.
111) A first-mover advantage is the process of gathering information about the competitive environment, including competitors' plans, activities, and products, to improve a company's ability to succeed.
112) FedEx created a first-mover advantage by developing its customer self-service software, which allows people to request parcel pickups, print mailing slips, and track parcels online.
113) A SWOT analysis will evaluate potential internal strengths, internal weaknesses, and external opportunities.
114) A SWOT analysis evaluates an organization's strengths, weaknesses, opportunities, and threats to identify significant influences that work for or against business strategies.
115) A SWOT analysis evaluates an organization's strengths, weaknesses, objectives, and threats.
116) A SWOT analysis evaluates an organization's strengths, worries, opportunities, and technologies to identify significant influences that work for or against business strategies.
117) In a SWOT analysis strengths and weaknesses originate inside an organization, or internally. Opportunities and threats originate outside an organization, or externally and cannot always be anticipated or controlled.
118) In a SWOT analysis potential internal strengths are helpful when they identify all key strengths associated with the competitive advantage including cost advantages, new and/or innovative services, special expertise and/or experience, proven market leader, improved marketing campaigns, and so on.
119) In a SWOT analysis potential internal weaknesses are harmful when they identify all key areas that require improvement. Weaknesses focus on the absence of certain strengths, including absence of an Internet marketing plan, damaged reputation, problem areas for service, outdated technology, employee issues, and so on.
120) In a SWOT analysis potential external opportunities are helpful when they identify all significant trends along with how the organization can benefit from each, including new markets, additional customer groups, legal changes, innovative technologies, population changes, competitor issues, and so on.
121) In a SWOT analysis potential external threats are harmful when they identify all threats or risks detrimental to your organization, including new market entrants, substitute products, employee turnover, differentiating products, shrinking markets, adverse changes in regulations, economic shifts, and so on.
122) Competitive advantages provide the same product or service either at a lower price or with additional value that can fetch premium prices.
123) Mark Peterson identified the Porter's Five Forces Model which analyzes the competitive forces within a business environment.
124) Porter's Five Forces Model outlines the process for a sales strategy.
125) With the Five Forces Model, companies should watch the forces in the market. If the forces are strong, competition generally increases; and if the forces are weak, competition typically decreases.
126) There are many challenges to changing doctors, including transferring medical records and losing the doctor–patient relationship along with the doctor's knowledge of the patient's history. Changing doctors provides a great example of switching costs.
127) Supplier power is one of Porter's five forces and it measures the suppliers' ability to influence the prices they charge for supplies (including materials, labor, and services).
128) Polaroid had a unique competitive advantage for many years until it forgot to observe competitive intelligence. The firm went bankrupt when people began taking digital pictures. Polaroid provides a great example of Porter's supplier power.
129) Product differentiation occurs when a company develops unique differences in its products or services with the intent to influence demand.
130) Buyer power is the ability of buyers to affect the price they must pay for an item.
131) Rivalry among existing competitors refers to the ability of buyers to affect the price they must pay for an item.
132) The threat of substitute products or services refers to the power of customers to purchase alternatives.
133) The threat of substitute products or services refers to the power of competitors to enter a new market.
134) Tiffany & Company competes in the marketplace by offering high cost custom jewelry. Tiffany & Company is following a broad market and cost leadership strategy.
135) Porter has identified three generic business strategies including focused, broad cost leadership, and switching strategy.
136) According to Porter's three generic strategies, Walmart is following a business strategy that focuses on "broad market and low cost."
137) According to Porter it is recommended to adopt only one of the three generic strategies.
138) Buyer power is included as one of Porter's three generic strategies.
139) Value chain analysis views a firm as a series of business processes that each adds value to the product or service.
140) A standardized set of activities that accomplish a specific task is called a supply chain component.
141) The value chain will group a company's activities into two categories: primary value activities and support value activities.
142) A business process is a standardized set of activities that accomplish a specific task, such as processing a customer's order.
143) A primary value activity is a standardized set of activities that accomplish a specific task, such as processing a customer's order.
144) Inbound logistics and operations are part of the primary value activities.
145) Inbound logistics and operations are part of the support value activities.
146) Firm infrastructure and human resource management are part of the primary value activities.
147) Firm infrastructure and human resource management are part of the support value activities.
148) Which of the following is not considered a core driver of the information age?
A) information
B) business Intelligence
C) competitive Intelligence
D) data
149) Which of the following is not considered a core driver of the information age?
A) information
B) business Intelligence
C) knowledge
D) variables
150) Which of the following is considered a core driver of the information age?
A) fact
B) goods
C) competitive intelligence
D) data
151) Which of the following is considered a core driver of the information age?
A) information
B) business intelligence
C) knowledge
D) all of these
152) Why do students need to study information technology?
A) Information technology is everywhere in business.
B) Information technology is rarely discussed in business.
C) Information technology is rarely used in organizations.
D) Information technology is found in only a few businesses.
153) Why do students need to study information technology?
A) Information technology is everywhere in business.
B) Information technology is frequently discussed in business.
C) Information technology is frequently used in organizations.
D) All of these.
154) What is the confirmation or validation of an event or object?
A) fact
B) data
C) information technology
D) business intelligence
155) The age we live in has infinite quantities of facts that are widely available to anyone who can use a computer. What age is this statement referring to?
A) data age
B) information age
C) business intelligence age
D) Internet of Things
156) Which of the following is not a technology company but used technology to revamp the business process of selling books?
A) Netflix
B) Dell
C) Zappos
D) Amazon
157) Which of the following is not a technology company but used technology to revamp the business process of renting videos?
A) Netflix
B) Dell
C) Zappos
D) Amazon
158) Which of the following is not a technology company but used technology to revamp the business process of selling shoes?
A) Netflix
B) Dell
C) Zappos
D) Amazon
159) What is data?
A) raw facts that describe the characteristics of an event or object
B) data converted into a meaningful and useful context
C) information collected from multiple sources that analyzes patterns, trends, and relationships for strategic decision making
D) skills, experience, and expertise, coupled with information and intelligence that creates a person's intellectual resources
160) What is information?
A) raw facts that describe the characteristics of an event or object
B) data converted into a meaningful and useful context
C) information collected from multiple sources that analyzes patterns, trends, and relationships for strategic decision making
D) skills, experience, and expertise, coupled with information and intelligence that creates a person's intellectual resources
161) What is business intelligence?
A) raw facts that describe the characteristics of an event or object
B) data converted into a meaningful and useful context
C) information collected from multiple sources that analyzes patterns, trends, and relationships for strategic decision making
D) skills, experience, and expertise, coupled with information and intelligence, which creates a person's intellectual resources
162) What is knowledge?
A) raw facts that describe the characteristics of an event or object
B) data converted into a meaningful and useful context
C) information collected from multiple sources that analyzes patterns, trends, and relationships for strategic decision making
D) skills, experience, and expertise, coupled with information and intelligence that creates a person's intellectual resources
163) Which of the following is considered information?
A) quantity sold
B) date sold
C) best-selling item by month
D) product sold
164) Which of the following is considered data?
A) quantity sold
B) best customer by month
C) best-selling item by month
D) worst-selling item by month
165) Cheryl Steffan is the operations manager for Nature's Bread Company, which specializes in providing natural products for health conscious individuals. Cheryl is responsible for compiling, analyzing, and evaluating daily sales numbers to determine the company's profitability and forecast production for the next day. Which of the following is an example of a piece of data Cheryl would be using to successfully perform her job?
A) Craig Newmark is customer number 15467.
B) Compare the costs of supplies including energy over the last five years to determine the best-selling product by month.
C) Best-selling product by day.
D) Best-selling product changes when Tony the best baker is working.
166) Cheryl Steffan is the operations manager for Nature's Bread Company, which specializes in providing natural products for health conscious individuals. Cheryl is responsible for compiling, analyzing, and evaluating daily sales numbers to determine the company's profitability and forecast production for the next day. Which of the following is an example of the type of information Cheryl would be using to successfully perform her job?
A) Craig Newmark is customer number 15467.
B) Flour Power is supplier number 8745643.
C) Best-selling product by day.
D) Best-selling product changes when Tony the best baker is working.
167) Cheryl Steffan is the operations manager for Nature's Bread Company, which specializes in providing natural products for health conscious individuals. Cheryl is responsible for compiling, analyzing, and evaluating daily sales numbers to determine the company's profitability and forecast production for the next day. Which of the following is an example of knowledge that Cheryl would be using to successfully perform her job?
A) Craig Newmark is customer number 15467.
B) Flour Power is supplier number 8745643.
C) Best-selling product by day
D) Best-selling product changes when Tony the best baker is working.
168) Data is useful for understanding individual sales, but data needs to be turned into information to gain deeper insight into a business. Which of the following offers an example of turning data into information?
A) Who are my best customers?
B) What is my best-selling product?
C) What is my worst-selling product?
D) All of these
169) Which of the following provides an example of information?
A) Who is customer number 12345XX?
B) What is product number 12345XX?
C) What customer number is Bob Smith?
D) What is my worst-selling product?
170) Which of the following provides an example of data?
A) Who are my best customers?
B) What is my best-selling product?
C) What is my worst-selling product?
D) Who is customer number 12345XX?
171) Business intelligence is information collected from multiple sources. Which of the following provides an example of a source that would be included in business intelligence?
A) suppliers
B) customers
C) competitors
D) all of these
172) Which of the following represents the core drivers of the information age?
A) data, information, business intelligence, knowledge
B) fact, data, intelligence, experience
C) fact, intelligence, business skills, knowledge
D) data, intelligence, business information, knowledge
173) Which of the following is not a core driver of the information age?
A) information
B) knowledge
C) Internet of Things
D) data
174) Which of the following represents the definition of a variable?
A) a data characteristic that is collected through competitive intelligence and cannot change over time
B) a data characteristic that stands for a value that changes or varies over time
C) a data characteristic that stands for a value that does not change or vary over time
D) a data characteristic that is collected only through competitive intelligence and can change over time
175) Today's workers are referred to as ________ and they use BI along with personal experience to make decisions based on both information and intuition, a valuable resource for any company.
A) knowledge workers
B) knowledge thinkers
C) knowledge resources
D) knowledge players
176) What is information collected from multiple sources such as suppliers, customers, competitors, partners, and industries that analyzes patterns, trends, and relationships for strategic decision making?
A) supplier's intelligence
B) social intelligence
C) employee intelligence
D) business intelligence
177) Information is data converted into useful, meaningful context. What are data characteristics that change or vary over time?
A) facts
B) variables
C) supplies
D) services
178) Which of the below is the key term that defines the confirmation or validation of an event or object?
A) buyer power
B) data
C) fact
D) entry barrier
179) What is data converted into a meaningful and useful context?
A) competitive intelligence
B) information
C) buyer power
D) first-mover advantage
180) What is a world where interconnected, Internet-enabled devices or "things" can collect and share data without human intervention?
A) Internet of Things
B) predictive analytics
C) machine to machine
D) flat world
181) What refers to devices that connect directly to other devices?
A) Internet of Things
B) predictive analytics
C) machine to machine
D) flat world
182) What extracts information from data and uses it to predict future trends and identify behavioral patterns?
A) Internet of Things
B) predictive analytics
C) machine to machine
D) flat world
183) What is the Internet of Things?
A) a world where interconnected, Internet-enabled devices or "things" can collect and share data without human intervention
B) extracts information from data and uses it to predict future trends and identify behavioral patterns
C) refers to devices that connect directly to other devices
D) opportunities to change the way people purchase books
184) What is machine to machine?
A) a world where interconnected, Internet-enabled devices or "things" can collect and share data without human intervention
B) extracts information from data and uses it to predict future trends and identify behavioral patterns
C) refers to devices that connect directly to other devices
D) opportunities to change the way people purchase books
185) What is predictive analytics?
A) a world where interconnected, Internet-enabled devices or "things" can collect and share data without human intervention
B) techniques that extracts information from data and uses it to predict future trends and identify behavioral patterns
C) refers to devices that connect directly to other devices
D) opportunities to change the way people purchase books
186) What is the science of fact-based decision making?
A) business intelligence
B) information
C) knowledge
D) analytics
187) What is the scientific process of transforming data into insight for making better decisions?
A) business analytics
B) descriptive analytics
C) prescriptive analytics
D) predictive analytics
188) What uses techniques that describe past performance and history?
A) business analytics
B) descriptive analytics
C) prescriptive analytics
D) predictive analytics
189) What uses techniques that extract information from data and use it to predict future trends and identify behavioral patterns?
A) business analytics
B) descriptive analytics
C) prescriptive analytics
D) predictive analytics
190) What uses techniques that create models indicating the best decision to make or course of action to take?
A) business analytics
B) descriptive analytics
C) prescriptive analytics
D) predictive analytics
191) What are business analytics?
A) the scientific process of transforming data into insight for making better decisions
B) uses techniques that describe past performance and history
C) uses techniques that extract information from data and use it to predict future trends and identify behavioral patterns
D) uses techniques that create models indicating the best decision to make or course of action to take
192) What are descriptive analytics?
A) the scientific process of transforming data into insight for making better decisions
B) uses techniques that describe past performance and history
C) uses techniques that extract information from data and use it to predict future trends and identify behavioral patterns
D) uses techniques that create models indicating the best decision to make or course of action to take
193) What are predictive analytics?
A) the scientific process of transforming data into insight for making better decisions
B) uses techniques that describe past performance and history
C) uses techniques that extract information from data and use it to predict future trends and identify behavioral patterns
D) uses techniques that create models indicating the best decision to make or course of action to take
194) What are prescriptive analytics?
A) the scientific process of transforming data into insight for making better decisions
B) uses techniques that describe past performance and history
C) uses techniques that extract information from data and use it to predict future trends and identify behavioral patterns
D) uses techniques that create models indicating the best decision to make or course of action to take
195) What are the three primary areas of analytics?
A) descriptive analytics, predictive analytics, and prescriptive analytics
B) descriptive analytics, primary analytics, response analytics
C) descriptive analytics, future analytics, past analytics
D) technique analytics, future analytics, past analytics
196) What are the human, structural, and recorded resources available to the organization?
A) knowledge assets
B) knowledge facilitators
C) predictive analytics
D) business analytics
197) What resides within the minds of members, customers, and colleagues and include physical structures and recorded media?
A) knowledge assets
B) knowledge facilitators
C) predictive analytics
D) business analytics
198) What helps harness the wealth of knowledge in the organization?
A) knowledge assets
B) knowledge facilitators
C) predictive analytics
D) business analytics
199) What helps acquire and catalog the knowledge assets in an organization?
A) knowledge assets
B) knowledge facilitators
C) predictive analytics
D) business analytics
200) What data is created by a machine without human intervention?
A) human-generated
B) machine-generated
C) machine to machine (M2M)
D) unstructured data
201) What data is data that humans, in interaction with computers, generate?
A) human-generated
B) machine-generated
C) machine-to-machine (M2M)
D) static report
202) What type of structured data includes sensor data, point-of-sale data, and web log data?
A) human-generated
B) machine-generated
C) machine-to-machine (M2M)
D) systems thinking
203) What type of structured data includes input data, click-stream data, or gaming data?
A) human-generated
B) machine-generated
C) machine-to-machine (M2M)
D) systems thinking
204) Which of the following describes structured data?
A) a defined length, type, and format
B) includes numbers, dates, or strings such as Customer Address
C) is typically stored in a relational database or spreadsheet
D) all of these
205) What refers to devices that connect directly to other devices?
A) human-generated
B) machine-generated
C) machine-to-machine (M2M)
D) systems thinking
206) What are the characteristics of unstructured data?
A) does not follow a specified format
B) free-form text
C) emails, Twitter tweets, and text messages
D) all of these
207) Which of the following does not describe unstructured data?
A) does not follow a specified format
B) a defined length, type, and format
C) free-form text
D) emails, Twitter tweets, and text messages
208) Which of the following does not describe structured data?
A) a defined length
B) emails, Twitter tweets, and text messages are examples of structured data
C) is typically stored in a relational database or spreadsheet
D) a defined format
209) What is a snapshot?
A) a world where interconnected, Internet-enabled devices or "things" can collect and share data without human intervention
B) a view of data at a particular moment in time
C) refers to devices that connect directly to other devices
D) opportunities to change the way people purchase books
210) What is a view of data at a particular moment in time?
A) knowledge
B) big data
C) snapshot
D) unstructured data
211) What is a collection of large complex data sets that cannot be analyzed using traditional database methods and tools?
A) knowledge
B) big data
C) snapshot
D) Internet of Things
212) What is a report?
A) a document containing data organized in a table, matrix, or graphical format allowing users to easily comprehend and understand information
B) a collection of large complex data sets, including structured and unstructured, which cannot be analyzed using traditional database methods and tools
C) a view of data at a particular moment in time
D) a world where interconnected, Internet-enabled devices or "things" can collect and share data without human intervention
213) What is big data?
A) a document containing data organized in a table, matrix, or graphical format allowing users to easily comprehend and understand information
B) a collection of large complex data sets, including structured and unstructured, which cannot be analyzed using traditional database methods and tools
C) a view of data at a particular moment in time
D) a world where interconnected, Internet-enabled devices or "things" can collect and share data without human intervention
214) What type of report is created based on data that does not change?
A) static report
B) dynamic report
C) variable report
D) structured report
215) What type of report changes automatically during creation?
A) static report
B) dynamic report
C) variable report
D) structured report
216) What type of report can include a sales report from last year or salary report from five years ago?
A) static report
B) dynamic report
C) variable report
D) structured report
217) What type of report can include updating daily stock market prices or the calculation of available inventory?
A) static report
B) dynamic report
C) variable report
D) structured report
218) How are the majority of companies today typically organized?
A) by departments or functional areas
B) by departments or financial areas
C) by degree or financial areas
D) by manager or knowledge area
219) How does the text recommend that a company operate if it wants to be successful in the information age?
A) functionally independent between departments
B) interdependently between departments
C) together as one department with little or no independence
D) each department acting as its own individual business unit
220) Most companies are typically organized by departments or functional areas. Which of the following is not a common department found in a company?
A) accounting
B) payroll
C) marketing
D) human resources
221) The sales department needs to rely on information from operations to understand
A) inventory.
B) customer orders.
C) demand forecasts.
D) all of these.
222) Which of the following represents the department that maintains policies, plans, and procedures for the effective management of employees?
A) human resources
B) sales
C) employee resources
D) employee relations
223) Greg works for Geneva Steel Corporation. Greg's duties include managing the overall processes for the company and transforming the steel resources into goods. Which department would Greg most likely work in?
A) accounting
B) operations management
C) marketing
D) CIO
224) Information technology can enable departments to more efficiently and effectively perform their core
A) facts.
B) feedback mechanisms.
C) business operations.
D) media issues.
225) The department within a company that records, measures, and reports monetary transactions is called
A) accounting.
B) marketing.
C) human resources.
D) operations management.
226) The department within a company that performs the function of selling goods or services is called
A) marketing.
B) sales.
C) finance.
D) operations management.
227) The department within a company that supports the sales by planning, pricing, and promoting goods or services is called
A) sales.
B) operations management.
C) accounting.
D) marketing.
228) Which department tracks strategic financial issues, including money, banking, credit, investments, and assets?
A) sales
B) operations management
C) accounting
D) finance
229) Which department manages the process of converting or transforming resources into goods or services?
A) sales
B) operations management
C) accounting
D) finance
230) Which department records, measures, and reports monetary transactions?
A) sales
B) operations management
C) accounting
D) finance
231) Which department maintains policies, plans, and procedures for the effective management of employees?
A) sales
B) operations management
C) accounting
D) human resources
232) Which activities belong in the accounting department?
A) records, measures, and reports monetary transactions
B) tracks strategic financial issues, including money, banking, credit, investments, and assets
C) supports the sales by planning, pricing, and promoting goods or services.
D) relies on information from operations to understand inventory, place orders, and forecast consumer demand
233) Which activities belong in the finance department?
A) records, measures, and reports monetary transactions
B) tracks strategic financial issues, including money, banking, credit, investments, and assets
C) supports the sales by planning, pricing, and promoting goods or services
D) relies on information from operations to understand inventory, place orders, and forecast consumer demand
234) Which activities belong in the marketing department?
A) records, measures, and reports monetary transactions
B) tracks strategic financial issues, including money, banking, credit, investments, and assets
C) supports the sales by planning, pricing, and promoting goods or services
D) relies on information from operations to understand inventory, place orders, and forecast consumer demand
235) Which activities belong in the sales department?
A) records, measures, and reports monetary transactions
B) tracks strategic financial issues, including money, banking, credit, investments, and assets
C) supports the sales by planning, pricing, and promoting goods or services
D) relies on information from operations to understand inventory, place orders, and forecast consumer demand
236) Which activities belong in the human resources department?
A) records, measures, and reports monetary transactions
B) tracks strategic financial issues, including money, banking, credit, investments, and assets
C) supports the sales by planning, pricing, and promoting goods or services
D) maintains policies, plans, and procedures for the effective management of employees
237) Which activities belong in the operations management department?
A) records, measures, and reports monetary transactions
B) manages the process of converting or transforming resources into goods or services
C) supports the sales by planning, pricing, and promoting goods or services
D) maintains policies, plans, and procedures for the effective management of employees
238) Which data types are typically found in the marketing department?
A) promotion data, sales data, advertising data
B) employee data, promotion data, vacation data
C) investment data, monetary data, reporting data
D) transactional data, purchasing data, payroll data, tax data
239) Which data types are typically found in the human resources department?
A) promotion data, sales data, advertising data
B) employee data, promotion data, vacation data
C) investment data, monetary data, reporting data
D) transactional data, purchasing data, payroll data, tax data
240) Which data types are typically found in the finance department?
A) promotion data, sales data, advertising data
B) employee data, promotion data, vacation data
C) investment data, monetary data, reporting data
D) transactional data, purchasing data, payroll data, tax data
241) Which data types are typically found in the accounting department?
A) promotion data, sales data, advertising data
B) employee data, promotion data, vacation data
C) investment data, monetary data, reporting data
D) transactional data, purchasing data, payroll data, tax data
242) Which data types are typically found in the sales department?
A) sales data, customer data, commission data, and customer support data
B) employee data, promotion data, vacation data
C) investment data, monetary data, reporting data
D) transactional data, purchasing data, payroll data, tax data
243) Which data types are typically found in the operations management department?
A) manufacturing data, distribution data, and production data
B) sales data, customer data, commission data, and customer support data
C) employee data, promotion data, vacation data
D) investment data, monetary data, reporting data
244) Which of the following represents the relationship between functional areas in a business?
A) independent
B) autonomous
C) interdependent
D) self-sufficient
245) Which of the following represents the types of data commonly found in the accounting department?
A) tax data
B) payroll data
C) transactional data
D) all of these
246) Which of the following represents the types of data commonly found in the finance department?
A) monetary data
B) technology data
C) production data
D) employee data
247) Which of the following represents the types of data commonly found in the human resource department?
A) financial data
B) technology data
C) production data
D) employee data
248) Which of the following represents the types of data commonly found in the sales department?
A) customer data
B) sales report data
C) commission data
D) all of these
249) Which of the following represents the types of data commonly found in the marketing department?
A) promotional data
B) payroll data
C) tax data
D) employee data
250) Which of the following represents the types of data commonly found in the operations management department?
A) monetary data
B) payroll data
C) production data
D) employee data
251) Who is responsible for collecting, maintaining, and distributing company knowledge?
A) chief knowledge officer (CKO)
B) chief privacy officer (CPO)
C) chief technology officer (CTO)
D) chief information officer (CIO)
252) Who is responsible for ensuring the ethical and legal use of information within a company?
A) chief knowledge officer (CKO)
B) chief privacy officer (CPO)
C) chief technology officer (CTO)
D) chief information officer (CIO)
253) Who is responsible for ensuring the speed, accuracy, availability, and reliability of the management information systems?
A) chief knowledge officer (CKO)
B) chief privacy officer (CPO)
C) chief technology officer (CTO)
D) chief information officer (CIO)
254) Who is responsible for overseeing all uses of MIS and ensuring that MIS strategically aligns with business goals and objectives?
A) chief knowledge officer (CKO)
B) chief privacy officer (CPO)
C) chief technology officer (CTO)
D) chief information officer (CIO)
255) Who is responsible for ensuring the security of business systems and developing strategies and safeguards against attacks by hackers and viruses?
A) chief knowledge officer (CKO)
B) chief security office (CSO)
C) chief technology officer (CTO)
D) chief information officer (CIO)
256) Trina Hauger works for Johnson Electric as a corporate lawyer and part of her duties are to ensure the ethical and legal use of information within the company. Which of the following represents Trina's role at Johnson Electric?
A) chief knowledge officer (CKO)
B) chief privacy officer (CPO)
C) chief technology officer (CTO)
D) chief information officer (CIO)
257) The challenge that companies today sometimes have is that they are departmentalized and act independently of each other. One solution that can help a company work ________ includes management information systems.
A) in variables
B) through human resource data
C) interdepartmentally
D) using resource information systems
258) Susan Stewart is an executive at Equity Title where she is responsible for collecting, maintaining, and distributing knowledge for the company. What is Susan's role at Equity Title?
A) chief knowledge officer (CKO)
B) chief technology officer (CTO)
C) chief information officer (CIO)
D) chief security officer (CSO)
259) What is the primary responsibility of the CTO?
A) overseeing all uses of MIS
B) ensuring the security of business systems
C) ensuring speed, accuracy, and reliability for MIS
D) collecting and distributing company information
260) Jeremy Bridges is an executive for Green Web Designs, where his primary role is to ensure the security of business systems and develop strategies to protect the company from online viruses and hackers. What is Jeremy's role within the company?
A) chief executive officer (CEO)
B) chief security officer (CSO)
C) chief procurement officer (CPO)
D) chief technology officer (CTO)
261) Which role within a company is responsible for overseeing all uses of MIS and ensuring that MIS strategic aligns with business goals and objectives?
A) chief knowledge officer (CKO)
B) chief privacy officer (CPO)
C) chief information officer (CIO)
D) chief security officer (CSO)
262) Recently, 150 of the Fortune 500 companies added this position to their list of senior executives.
A) chief technology officer (CTO)
B) chief data officer (CDO)
C) chief privacy officer (CPO)
D) chief knowledge officer (CKO)
263) Who is responsible for ensuring the speed, accuracy, availability, and reliability of the MIS?
A) chief technology officer (CTO)
B) chief security officer (CSO)
C) chief privacy officer (CPO)
D) chief data officer (CDO)
264) Who is responsible for ensuring the ethical and legal use of information within a company?
A) chief technology officer (CTO)
B) chief security officer (CSO)
C) chief privacy officer (CPO)
D) chief knowledge officer (CKO)
265) Who is responsible for ensuring the security of business systems and developing strategies and safeguards against attacks by hackers and viruses?
A) chief technology officer (CTO)
B) chief security officer (CSO)
C) chief privacy officer (CPO)
D) chief knowledge officer (CKO)
266) Who is responsible for collecting, maintaining, and distributing company knowledge?
A) chief data officer (CDO)
B) chief security officer (CSO)
C) chief privacy officer (CPO)
D) chief knowledge officer (CKO)
267) Who is responsible for 1) overseeing all uses of MIS and 2) ensuring that MIS strategically aligns with business goals and objectives?
A) chief information officer (CIO)
B) chief data officer (CDO)
C) chief privacy officer (CPO)
D) chief knowledge officer (CKO)
268) Who is responsible for determining the types of information the enterprise will capture, retain, analyze, and share?
A) chief information officer (CIO)
B) chief security officer (CSO)
C) chief data officer (CDO)
D) chief knowledge officer (CKO)
269) Which of the following includes the roles and responsibilities of the CTO?
A) ensuring the speed, accuracy, availability, and reliability of the MIS
B) ensuring the ethical and legal use of information within a company
C) ensuring the security of business systems and developing strategies and safeguards against attacks by hackers and viruses
D) ensuring that MIS strategically aligns with business goals and objectives
270) Which of the following includes the roles and responsibilities of the CIO?
A) ensuring the speed, accuracy, availability, and reliability of the MIS
B) ensuring the ethical and legal use of information within a company
C) ensuring the security of business systems and developing strategies and safeguards against attacks by hackers and viruses
D) ensuring that MIS strategically aligns with business goals and objectives
271) Which of the following includes the roles and responsibilities of the CPO?
A) ensuring the speed, accuracy, availability, and reliability of the MIS
B) ensuring the ethical and legal use of information within a company
C) ensuring the security of business systems and developing strategies and safeguards against attacks by hackers and viruses
D) ensuring that MIS strategically aligns with business goals and objectives
272) Which of the following includes the roles and responsibilities of the CSO?
A) ensuring the speed, accuracy, availability, and reliability of the MIS
B) ensuring the ethical and legal use of information within a company
C) ensuring the security of business systems and developing strategies and safeguards against attacks by hackers and viruses
D) ensuring that MIS strategically aligns with business goals and objectives
273) Which of the following includes the roles and responsibilities of the CDO?
A) determining the types of information the enterprise will capture, retain, analyze, and share
B) ensuring the ethical and legal use of information within a company.
C) ensuring the security of business systems and developing strategies and safeguards against attacks by hackers and viruses
D) ensuring that MIS strategically aligns with business goals and objectives
274) Which of the following includes the roles and responsibilities of the CKO?
A) determining the types of information the enterprise will capture, retain, analyze, and share
B) collecting, maintaining, and distributing company knowledge
C) ensuring the security of business systems and developing strategies and safeguards against attacks by hackers and viruses
D) ensuring that MIS strategically aligns with business goals and objectives
275) According to Fast Company magazine, which of the following executive levels might we see created over the next decade?
A) chief intellectual property officer
B) chief automation officer
C) chief user experience officer
D) all of these
276) According to Fast Company magazine, chief intellectual property officer is a new executive level we might see created over the next decade. Which of the following includes the roles and responsibilities of this officer?
A) Manage and defend intellectual property, copyrights, and patents.
B) Determine if a person or business process can be replaced by a robot or software.
C) Create the optimal relationship between user and technology.
D) Ensure the ethical and legal use of information within an organization.
277) According to Fast Company magazine, chief automation officer is a new executive level we might see created over the next decade. Which of the following includes the roles and responsibilities of this officer?
A) Manage and defend intellectual property, copyrights, and patents.
B) Determine if a person or business process can be replaced by a robot or software.
C) Create the optimal relationship between user and technology.
D) Ensure the ethical and legal use of information within an organization.
278) According to Fast Company magazine, chief user experience officer, is a new executive level we might see created over the next decade. Which of the following includes the roles and responsibilities of this officer?
A) Manage and defend intellectual property, copyrights, and patents.
B) Determine if a person or business process can be replaced by a robot or software.
C) Create the optimal relationship between user and technology.
D) Ensure the ethical and legal use of information within an organization.
279) Jason Charney is the CIO of Zapp Industries. Which of the following does not describe his primary responsibilities?
A) Manage and defend intellectual property, copyrights, and patents.
B) Oversee all the uses of information technology.
C) Ensure the strategic alignment of MIS with business goals and objectives.
D) Have tremendous insight into the capabilities of MIS.
280) Which of the following is not a broad function of a CIO?
A) manager
B) follower
C) communicator
D) leader
281) Jason Charney is the CIO of Zapp Industries. Which of the following is among his primary responsibilities?
A) Advocate and communicate the MIS strategy by building and maintaining strong executive relationships.
B) Determine the types of information the enterprise will capture, retain, analyze, and share.
C) Ensure the efficiency of MIS systems throughout the organization.
D) Develop MIS safeguards against attacks from hackers and viruses.
282) What is the difference between the CIO and CDO of an organization?
A) The CIO is responsible for the data, regardless of the information system; the CDO is responsible for the information systems through which data is stored and processed
B) The CIO is responsible for the information systems through which data is stored and processed; the CDO is responsible for the data, regardless of the information system.
C) The CIO is responsible for ensuring the throughput, speed, accuracy, availability, and reliability of an organizations information technology; the CDO is responsible for determining the types of information the enterprise will capture, retain, analyze, and share.
D) The CIO is responsible for determining the types of information the enterprise will capture, retain, analyze, and share; the CDO is responsible for ensuring the throughput, speed, accuracy, availability, and reliability of an organizations information technology
283) What is the difference between existing MIS workplace knowledge and the knowledge required to fulfill business goals and strategies?
A) off-site training
B) MIS skills gap
C) social recruiting
D) information security
284) Which of the following is a common approach to closing an MIS skills gap?
A) social recruiting
B) off-site training
C) mentoring services
D) all of these
285) Which of the following is not a common approach to closing an MIS skills gap?
A) social recruiting
B) off-site training
C) competitive salary
D) mentoring services
286) In recruiting lingo, what are perfect MIS candidates sometimes called?
A) turquoise turtles
B) red rabbits
C) purple squirrels
D) white unicorns
287) What first-ever national appointment was made by President Barack Obama?
A) National Chief Security Officer
B) National Chief Privacy Officer
C) National Chief Technology Officer
D) All of these
288) Eric Eberly holds an executive position at Parker Industries. He has designed and implemented a system to collect, maintain, and share information across the many departments of Parker Industries. He's also instilled an updating protocol requiring department heads to keep the system up-to-date. Based on this description, what position does Eric hold?
A) chief information officer (CIO)
B) chief security officer (CSO)
C) chief data officer (CDO)
D) chief knowledge officer (CKO)
289) Cody Osterman holds an executive position at Trek Enterprises. His role is the newest senior executive position at the organization. He has advised the company on privacy procedures and processes, and has initiated a training program for employees about the privacy policy, customer confidentiality, and data security. Based on this description, what position does Cody hold at Trek Enterprises?
A) chief information officer (CIO)
B) chief security officer (CSO)
C) chief data officer (CDO)
D) chief privacy officer (CPO)
290) Sara McGuire holds an executive position at Henry Commerce. She is a big-picture thinker, and makes sure the technology strategy at Henry Commerce serves its business strategy. She has a well-rounded knowledge of MIS and her primary responsibilities include the efficiency of Henry Commerce's MIS systems. Based on this description, what position does Sara hold?
A) chief information officer (CIO)
B) chief technology officer (CTO)
C) chief data officer (CDO)
D) chief privacy officer (CPO)
291) Adam Nation holds an executive position at PH Corporation. He has an extensive understanding of networks and telecommunications. Adam is aware of the information-technology threats the company faces, and institutes security protocols and safeguards to secure the MIS systems at PH Corporation. Based on this description, what position does Adam hold?
A) chief security officer (CSO)
B) chief technology officer (CTO)
C) chief data officer (CDO)
D) chief privacy officer (CPO)
292) Jim Coleman holds an executive position at Keck-Howes Group. Jim has improved the quality of the data gathered by the organization, and has also created a model to decrease the cost of managing data while increasing the value of the data gathered. Based on this description, what position does Jim hold at Keck-Howes Group?
A) chief security officer (CSO)
B) chief technology officer (CTO)
C) chief data officer (CDO)
D) chief privacy officer (CPO)
293) Feedback is information that returns to its original transmitter and modifies the transmitter's actions. What would the original transmitter include?
A) input, transform, output
B) input, transform, outnumber
C) output, input, performer
D) input, process, transform
294) MIS is a business function. Which of the following does MIS perform to help aid the company in decision making and problem solving?
A) moves information about people
B) moves processes across the company to improve systems
C) moves information about products
D) all of these
295) In terms of system thinking, what is data entered in a computer?
A) input
B) output
C) process
D) feedback
296) In terms of system thinking, what controls to ensure correct processes?
A) input
B) output
C) process
D) feedback
297) In terms of system thinking, what is the resulting information from the computer program?
A) input
B) output
C) process
D) feedback
298) In terms of system thinking, what is the computer program that processes the data?
A) input
B) output
C) process
D) feedback
299) In terms of system thinking, what is input?
A) data entered in a computer
B) controls to ensure correct processes
C) the resulting information from the computer program
D) the computer program that processes the data
300) In terms of system thinking, what is output?
A) data entered in a computer
B) controls to ensure correct processes
C) the resulting information from the computer program
D) the computer program that processes the data
301) In terms of system thinking, what is feedback?
A) data entered in a computer
B) controls to ensure correct processes
C) the resulting information from the computer program
D) the computer program that processes the data
302) In terms of system thinking, what is process?
A) data entered in a computer
B) controls to ensure correct processes
C) the resulting information from the computer program
D) the computer program that processes the data
303) A system is a collection of parts that link to achieve a common purpose. Systems thinking is a way of monitoring
A) the entire system.
B) a division within the sales role.
C) the executive team.
D) the company's competitors.
304) MIS can be an important enabler of business success and innovation. Which of the below statements is accurate when referring to MIS?
A) MIS equals business success and innovation.
B) MIS represents business success and innovation.
C) MIS is not a valuable tool that leverages talent.
D) MIS is a valuable tool that can leverage the talents of people who know how to use and manage it effectively.
305) What is a way of monitoring the entire system in a company by viewing the multiple inputs being processed to produce outputs?
A) feedback thinking
B) systems thinking
C) output management
D) operational thinking
306) Which of the following statements is true?
A) MIS equals business success.
B) MIS equals business innovation.
C) MIS represents business success and innovation.
D) MIS enables business success and innovation.
307) What is the name of a company's internal computer department?
A) management information systems (MIS)
B) information systems (IS)
C) information technology (IT)
D) all of these
308) What are material items or products that customer's will buy to satisfy a want or need?
A) goods
B) services
C) production
D) productivity
309) What are tasks performed by people that customer's will buy to satisfy a want or need?
A) goods
B) services
C) production
D) productivity
310) What is the process where a business takes raw materials and processes them or converts them into a finished product for its goods or services?
A) goods
B) services
C) production
D) productivity
311) What is the rate at which goods and services are produced based upon total output given total inputs?
A) goods
B) services
C) production
D) productivity
312) What are goods?
A) material items or products that customer's will buy to satisfy a want or need
B) tasks performed by people that customer's will buy to satisfy a want or need
C) the process where a business takes raw materials and processes them or converts them into a finished product for its goods or services.
D) the rate at which goods and services are produced based upon total output given total inputs
313) What are services?
A) material items or products that customer's will buy to satisfy a want or need
B) tasks performed by people that customer's will buy to satisfy a want or need
C) the process where a business takes raw materials and processes them or converts them into a finished product for its goods or services.
D) the rate at which goods and services are produced based upon total output given total inputs
314) What is production?
A) material items or products that customer's will buy to satisfy a want or need
B) tasks performed by people that customer's will buy to satisfy a want or need
C) the process where a business takes raw materials and processes them or converts them into a finished product for its goods or services
D) the rate at which goods and services are produced based upon total output given total inputs
315) What is productivity?
A) material items or products that customer's will buy to satisfy a want or need
B) tasks performed by people that customer's will buy to satisfy a want or need
C) the process where a business takes raw materials and processes them or converts them into a finished product for its goods or services
D) the rate at which goods and services are produced based upon total output given total inputs
316) Cars, groceries, and clothing belong in which category?
A) goods
B) services
C) production
D) productivity
317) Teaching, waiting tables, and cutting hair belong in which category?
A) goods
B) services
C) production
D) productivity
318) Which of the following is considered a good?
A) cars
B) groceries
C) clothing
D) all of these
319) Which of the following is considered a service?
A) teaching
B) waiting tables
C) cutting hair
D) all of these
320) Which of the following is considered a good?
A) cars
B) teaching
C) waiting tables
D) all of these
321) Which of the following is considered a service?
A) cars
B) groceries
C) cutting hair
D) all of these
322) Which of the following is considered a good?
A) milk and eggs
B) managing a team
C) selling groceries
D) all of these
323) Which of the following is considered a service?
A) selling groceries
B) managing a team
C) cutting hair
D) all of these
324) The lettuce, tomatoes, patty, bun, and ketchup are included in which category of making a hamburger?
A) input
B) process
C) output
D) all of these
325) Cooking a patty and putting the ingredients together are included in which category of making a hamburger?
A) input
B) process
C) output
D) all of these
326) The actual hamburger is included in which category of making a hamburger?
A) input
B) process
C) output
D) all of these
327) Assume you are in the business of producing and selling hamburgers. If you could produce more hamburgers with the same input what would happen to your productivity and profits assuming the price of your hamburgers remains the same?
A) increase in productivity, decrease in profits
B) increase in productivity, increase in profits
C) decrease in productivity, decrease in profits
D) decrease in productivity, increase in profits
328) Assume you are in the business of producing and selling t-shirts. If you could produce more t-shirts with the same input what would happen to your productivity and profits assuming the price of your t-shirts remains the same?
A) increase in productivity, decrease in profits
B) increase in productivity, increase in profits
C) decrease in productivity, decrease in profits
D) decrease in productivity, increase in profits
329) Assume you are in the business of producing and selling cars. If you could produce more cars with the same input what would happen to your productivity and profits assuming the price of your cars remains the same?
A) increase in productivity, decrease in profits
B) increase in productivity, increase in profits
C) decrease in productivity, decrease in profits
D) decrease in productivity, increase in profits
330) Which four elements are included in systems thinking?
A) output, process, feedback, and accounting
B) process, output, operations, and accounting
C) input, process, output, and feedback
D) input, output, sales, and feedback
331) MIS is a business function, like accounting or sales, which moves information about people, products, and processes across the company to facilitate decision making and problem solving. What does MIS stand for?
A) management information strategy
B) management intelligence system
C) management information system
D) management information strategist
332) Shelby Black runs a very successful hair salon in downtown Los Angeles. One of Shelby's tasks is to input positive and negative customer reviews into her computer system. What type of information is Shelby gathering?
A) feedback
B) processing
C) output management
D) sales processing
333) Which of the following provides an accurate definition of systems thinking?
A) a way of monitoring the entire system by viewing multiple inputs being processed or transformed to produce outputs while continuously gathering feedback on each part
B) a way of monitoring individual components including an input, the process, and an output, while continuously gathering feedback on the entire system
C) a way of monitoring the entire system by viewing multiple inputs being processed or transformed to produce outputs while continuously gathering feedback on the entire system
D) a way of monitoring singular parts of a system by viewing a single input that is processed or transformed to produce an entire system that is continuously monitored to gather feedback on each individual part
334) If you were thinking about a washing machine as a system, which of the following represents the inputs?
A) the dirty clothes, water, and detergent
B) the clean clothes
C) the wash and rinse cycle
D) the light indicating that the washer is off balance and has stopped
335) If you were thinking about a washing machine as a system, which of the following represents the process?
A) the dirty clothes, water, and detergent
B) the clean clothes
C) the wash and rinse cycle
D) the light indicating that the washer is off balance and has stopped
336) If you were thinking about a washing machine as a system, which of the following represents the feedback?
A) the dirty clothes, water, and detergent
B) the clean clothes
C) the wash and rinse cycle
D) the light indicating that the washer is off balance and has stopped
337) If you were thinking about a washing machine as a system, which of the following represents the outputs?
A) the dirty clothes, water, and detergent
B) the clean clothes
C) the wash and rinse cycle
D) the light indicating that the washer is off balance and has stopped
338) If you were thinking about an oven as a system, which of the following represents the input?
A) the uncooked food
B) the cooked food
C) a light indicating that the oven has reached the preheated temperature
D) the oven running at 350 degrees for 20 minutes
339) If you were thinking about an oven as a system, which of the following represents the output?
A) the uncooked food
B) the cooked food
C) a light indicating that the oven has reached the preheated temperature
D) the oven running at 350 degrees for 20 minutes
340) If you were thinking about an oven as a system, which of the following represents the process?
A) the uncooked food
B) the cooked food
C) a light indicating that the oven has reached the preheated temperature
D) the oven running at 350 degrees for 20 minutes
341) If you were thinking about an oven as a system, which of the following represents the feedback?
A) the uncooked food
B) the cooked food
C) a light indicating that the oven has reached the preheated temperature
D) the oven running at 350 degrees for 20 minutes
342) If you were thinking about a home theater system, which of the following represents the inputs?
A) the DVD player, DVD movie, speakers, TV, and electricity
B) playing the movie including the audio through the speakers and the video on the TV
C) a message stating that the disk is dirty and cannot be played
D) spinning the disk to play, pause, rewind, or fast forward
343) If you were thinking about a home theater system, which of the following represents the outputs?
A) the DVD player, DVD movie, speakers, TV, and electricity
B) playing the movie including the audio through the speakers and the video on the TV
C) a message stating that the disk is dirty and cannot be played
D) spinning the disk to play, pause, rewind, or fast forward
344) If you were thinking about a home theater system, which of the following represents the process?
A) the DVD player, DVD movie, speakers, TV, and electricity
B) playing the movie including the audio through the speakers and the video on the TV
C) a message stating that the disk is dirty and cannot be played
D) spinning the disk to play, pause, rewind, or fast forward
345) If you were thinking about a home theater system, which of the following represents the feedback?
A) the DVD player, DVD movie, speakers, TV, and electricity
B) playing the movie including the audio through the speakers and the video on the TV
C) a message stating that the disk is dirty and cannot be played
D) spinning the disk to play, pause, rewind, or fast forward
346) Which of the following is not a typical way that a company would duplicate a competitive advantage?
A) acquiring the new technology
B) copying the business operations
C) hiring away key employees
D) carrying large product inventories
347) When a company is the first to market with a competitive advantage, this is called a first-mover advantage. All of the following companies were first-movers except
A) FedEx—online self-service software.
B) Apple—iPad.
C) Apple—iPod.
D) Microsoft—Bing Search Engine.
348) A business strategy achieves a specific set of goals which include
A) developing new products or services, attracting new competition.
B) increasing costs, attracting new competition.
C) attracting new customers, developing new products or services.
D) all of these.
349) Which of the following is a tool a manager can use to analyze competitive intelligence and identify competitive advantages?
A) the three generic strategies
B) the threat of substitute buyer power
C) differentiated costs
D) supplier loyalty
350) Identifying competitive advantages can be difficult and explains why they are typically
A) temporary.
B) satisfactory.
C) terminated.
D) unsuccessful.
351) Updating business strategies is a continuous undertaking as internal and external environments
A) become less competitive.
B) remain stagnant.
C) rapidly change.
D) become more consistent.
352) Which of the following represents a reason why competitive advantages are typically temporary?
A) The competitor will hire away your key employees.
B) The competitor quickly seeks ways to duplicate your business operations.
C) The competitor will purchase new technology.
D) All of these.
353) What is a competitive advantage?
A) a product that an organization's customers place a lesser value on than similar offerings from a competitor
B) a feature of a product or service on which customers place a lesser value than they do on similar offerings from a supplier
C) a service that an organization's customers place a lesser value on than similar offerings from a supplier
D) a feature of a product or service on which customers place a greater value than they do on similar offerings from competitors
354) All of the following are common tools used in industry to analyze and develop competitive advantages, except
A) Five Forces Model
B) three generic strategies
C) competitive analysis model
D) value chain analysis
355) The process of gathering information about the competitive environment, including competitors' plans, activities, and products, to improve a company's ability to succeed is the definition of
A) feedback.
B) information.
C) competitive intelligence.
D) data.
356) What is a person or group that has an interest or concern in an organization?
A) stakeholder
B) business strategy
C) supplier
D) partner
357) Which group of stakeholder's primary interests include reliable contracts, ethical materials handling, and responsible production?
A) partners/suppliers
B) shareholders/investors
C) community
D) government
358) Which group of stakeholder's primary interests include adhering to regulations/laws, increasing employment, and ethical taxation reporting?
A) partners/suppliers
B) shareholders/investors
C) community
D) government
359) Which group of stakeholder's primary interests include maximizing profits, growing market share, and high return on investment?
A) partners/suppliers
B) shareholders/investors
C) community
D) government
360) Which group of stakeholder's primary interests include exceptional customer service, high-quality products, and ethical dealings?
A) partners/suppliers
B) shareholders/investors
C) community
D) customers
361) Which group of stakeholder's primary interests include fair compensation, job security, and ethical conduct/treatment?
A) employees
B) shareholders/investors
C) community
D) customers
362) Which group of stakeholder's primary interests include professional associations, ethical recycling, and increasing employment?
A) employees
B) shareholders/investors
C) community
D) customers
363) A ________ features a product or service on which customers place a greater value than they do on similar offerings from competitors.
A) competitive advantage
B) competitor advantage
C) power advantage
D) first mover advantage
364) Which of the following evaluates a project's position?
A) SWOT analysis
B) the Five Forces Model
C) value chain analysis
D) three generic strategies
365) What is a SWOT analysis?
A) evaluates an organization's strengths, weaknesses, opportunities, and threats to identify significant influences that work for or against business strategies
B) analyzes the competitive forces within the environment in which a company operates to assess the potential for profitability in an industry
C) views a firm as a series of business processes, each of which adds value to the product or service
D) generic business strategies that are neither organization nor industry specific and can be applied to any business, product, or service
366) What evaluates industry attractiveness?
A) SWOT analysis
B) the Five Forces Model
C) value chain analysis
D) three generic strategies
367) What is Porter's Five Forces Model?
A) evaluates an organization's strengths, weaknesses, opportunities, and threats to identify significant influences that work for or against business strategies
B) analyzes the competitive forces within the environment in which a company operates to assess the potential for profitability in an industry
C) views a firm as a series of business processes, each of which adds value to the product or service
D) generic business strategies that are neither organization nor industry specific and can be applied to any business, product, or service
368) What executes business strategy?
A) SWOT analysis
B) the Five Forces Model
C) value chain analysis
D) three generic strategies
369) What is a value chain analysis?
A) evaluates an organization's strengths, weaknesses, opportunities, and threats to identify significant influences that work for or against business strategies
B) analyzes the competitive forces within the environment in which a company operates to assess the potential for profitability in an industry
C) views a firm as a series of business processes, each of which adds value to the product or service
D) generic business strategies that are neither organization nor industry specific and can be applied to any business, product, or service
370) Which strategy below helps an organization choose its business focus?
A) SWOT analysis
B) the Five Forces Model
C) value chain analysis
D) three generic strategies
371) What are Porter's three generic strategies?
A) evaluates an organization's strengths, weaknesses, opportunities, and threats to identify significant influences that work for or against business strategies
B) analyzes the competitive forces within the environment in which a company operates to assess the potential for profitability in an industry
C) views a firm as a series of business processes, each of which adds value to the product or service
D) generic business strategies that are neither organization nor industry specific and can be applied to any business, product, or service
372) What is included in a SWOT analysis?
A) strengths, weaknesses, organizations, and technology
B) strengths, weaknesses, opportunities, and threats
C) success, willingness, opportunities, and technology
D) success, weaknesses, organizations, and threats
373) Which of the following statements is correct when considering a SWOT analysis?
A) Strengths and weaknesses originate inside an organization.
B) Opportunities and threats originate inside an organization.
C) Strengths and threats originate inside an organization.
D) Opportunities and weaknesses originate outside an organization.
374) Which of the following statements is correct when considering a SWOT analysis?
A) Strengths and weaknesses originate outside an organization.
B) Opportunities and threats originate outside an organization.
C) Strengths and threats originate inside an organization.
D) Opportunities and weaknesses originate outside an organization.
375) Which of the following are included as potential internal strengths in a SWOT analysis that are helpful to an organization?
A) core competencies, market leaders, cost advantages, excellent management
B) lack of strategic direction, obsolete technologies, lack of managerial talent, outdated product line
C) expanded product line, increase in demand, new markets, new regulations
D) new entrants, substitute products, shrinking markets, costly regulatory requirements
376) Which of the following are included as potential internal weaknesses in a SWOT analysis that are harmful to an organization?
A) core competencies, market leaders, cost advantages, excellent management
B) lack of strategic direction, obsolete technologies, lack of managerial talent, outdated product line
C) expanded product line, increase in demand, new markets, new regulations
D) new entrants, substitute products, shrinking markets, costly regulatory requirements
377) Which of the following are included as potential external opportunities in a SWOT analysis that are helpful to an organization?
A) core competencies, market leaders, cost advantages, excellent management
B) lack of strategic direction, obsolete technologies, lack of managerial talent, outdated product line
C) expanded product line, increase in demand, new markets, new regulations
D) new entrants, substitute products, shrinking markets, costly regulatory requirements
378) Which of the following are included as potential external weaknesses in a SWOT analysis that are harmful to an organization?
A) core competencies, market leaders, cost advantages, excellent management
B) lack of strategic direction, obsolete technologies, lack of managerial talent, outdated product line
C) expanded product line, increase in demand, new markets, new regulations
D) new entrants, substitute products, shrinking markets, costly regulatory requirements
379) Where would you categorize strengths in a SWOT analysis?
A) internal, helpful
B) internal, harmful
C) external, helpful
D) external, harmful
380) Where would you categorize weaknesses in a SWOT analysis?
A) internal, helpful
B) internal, harmful
C) external, helpful
D) external, harmful
381) Where would you categorize opportunities in a SWOT analysis?
A) internal, helpful
B) internal, harmful
C) external, helpful
D) external, harmful
382) Where would you categorize threats in a SWOT analysis?
A) internal, helpful
B) internal, harmful
C) external, helpful
D) external, harmful
383) Which of the following describes a stakeholder?
A) a leadership plan that achieves a specific set of goals or objectives
B) a feature of a product or service on which customers place a greater value
C) a person or group that has an interest or concern in an organization
D) information about a competitive environment
384) There are many different stakeholders found in an organization. Stakeholders drive business strategies, and depending on the stakeholder's perspective, the business strategy can change. Which of the following is a main concern for customers?
A) exceptional customer service
B) fair compensation
C) professional associations
D) reliable contracts
385) There are many different stakeholders found in an organization. Stakeholders drive business strategies, and depending on the stakeholder's perspective, the business strategy can change. Which of the following is a main concern for employees?
A) exceptional customer service
B) fair compensation
C) professional associations
D) reliable contracts
386) There are many different stakeholders found in an organization. Stakeholders drive business strategies, and depending on the stakeholder's perspective, the business strategy can change. Which of the following is a main concern for the community?
A) exceptional customer service
B) fair compensation
C) professional associations
D) reliable contracts
387) There are many different stakeholders found in an organization. Stakeholders drive business strategies, and depending on the stakeholder's perspective, the business strategy can change. Which of the following is a main concern for partners/suppliers?
A) exceptional customer service
B) fair compensation
C) professional associations
D) reliable contracts
388) There are many different stakeholders found in an organization. Stakeholders drive business strategies, and depending on the stakeholder's perspective, the business strategy can change. Which of the following is a main concern for the government?
A) maximize profits
B) adhere to regulations/laws
C) exceptional customer service
D) reliable contracts
389) There are many different stakeholders found in an organization. Stakeholders drive business strategies, and depending on the stakeholder's perspective, the business strategy can change. Which of the following is a main concern for shareholders/investors?
A) maximize profits
B) adhere to regulations/laws
C) exceptional customer service
D) reliable contracts
390) There are many different stakeholders found in an organization with common business interests. Depending on the stakeholder's perspective, the business strategy can change. Which of the following is not a main concern for shareholders/investors?
A) maximize profits
B) grow market share
C) job security
D) high return on investment
391) What does a SWOT analysis do?
A) evaluates an organizations strengths, weaknesses, objectives, and threats
B) evaluates an organization's strengths, weaknesses, opportunities, and threats
C) evaluates an organization's supporters, weaknesses, opportunities, and technology
D) evaluates an organization's systems, warehouses, outputs, and technology
392) In a SWOT analysis, strengths and weaknesses originate ________ an organization.
A) inside (internally)
B) outside (externally)
C) inside and outside
D) None of these.
393) In a SWOT analysis, opportunities and threats originate ________ an organization.
A) inside (internally)
B) outside (externally)
C) inside and outside
D) None of these.
394) In a SWOT analysis, which of the following could you discover as potential internal strengths (helpful)?
A) cost advantages
B) damaged reputation
C) new markets
D) competitor issues
395) In a SWOT analysis, which of the following could you discover as potential inner weaknesses (harmful)?
A) cost advantages
B) damaged reputation
C) new markets
D) competitor issues
396) In a SWOT analysis, which of the following could you discover as potential external opportunities (helpful)?
A) cost advantages
B) damaged reputation
C) new markets
D) improved marketing campaigns
397) Managers use four common tools to analyze competitive intelligence and develop competitive advantages. Which of the following is not one of these tools?
A) the three generic strategies
B) the Five Forces Model
C) first-mover advantage
D) SWOT analysis
398) The Victory Wireless store in Denver is currently offering a fabulous marketing strategy for potential new iPhone customers. Victory Wireless offers customers who purchase an iPhone with a 2-year subscription a free Otter phone case, car charger, ear phones, and speakers. In terms of Porter's Five Forces what is Victory Wireless attempting to achieve with this marketing strategy?
A) increase buyer power
B) increase substitute products
C) decrease supplier power
D) decrease buyer power
399) Gina Brooks works for Aquarium Retail Services selling high-end saltwater fish and tank supplies. Aquarium Retail Services is the current market leader in Gina's city. Gina has recently been approached by Deep Blue Incorporated with an opportunity to run its corporate nationwide marketing and sales division. Gina decides to jump at the opportunity! Deep Blue is attempting to gain a competitive ________ by stealing its competitor's key employees.
A) power
B) entry barrier
C) advantage
D) loyalty
400) The banking industry has implemented several competitive advantages including ATM's, online bill pay services, and electronic statements. Of course, these competitive advantages were quickly duplicated by any competitor that wanted to remain in the banking industry. These represent what type of competitive advantage?
A) acquiring new technology products and services
B) hiring new employees
C) reducing expenses
D) gaining invaluable feedback from customers
401) Michael Porter defined the Five Forces Model and the potential pressures that can hurt sales. Which of the following is not one of the potential pressures that can hurt sales?
A) Suppliers can drive down profits by charging more for supplies.
B) New market entrants can steal potential investment capital.
C) Substitute products can steal customers.
D) Competition can steal customers.
402) Kevin Campbell is an incoming freshman at your college. Kevin is frustrated by the cost of books, tuition, and expenses, and he also needs to purchase a rather expensive laptop. In an effort to save money, Kevin begins a Facebook group finding other college students who need to purchase laptops. Soon, Kevin's Facebook group has close to 100,000 students. Kevin decides to collectively approach different computer companies to see if his group qualifies for a special discount. What business strategy is Kevin using to purchase laptops?
A) collecting business intelligence
B) decreasing entry barriers
C) purchasing a substitute product
D) increasing buyer power
403) What are costs that make customers reluctant to switch to another product or service?
A) support activities
B) switching costs
C) loyalty rewards
D) value chain activities
404) Callie Crystal owns and operates one of the most successful local coffee shops in Denver, called The Edgewater Café. Each time a customer purchases their 100th cup of coffee at The Edgewater Café they receive a free pound of coffee of their choice. What is Callie attempting to create with her unique "Free Pound of Coffee" marketing program?
A) reducing buyer power with a loyalty program
B) increasing buyer power with a loyalty program
C) decreasing supplier power with a differentiated product
D) creating a substitute product
405) What includes all parties involved, directly or indirectly, in obtaining raw materials or a product?
A) support chain
B) supply chain
C) system chain
D) supply choice
406) Which of the below represents a company in a supply chain?
A) customer and competitor
B) supplier and competitor
C) knowledge worker and supplier
D) supplier and customer
407) In the center of Porter's Five Forces model is competition. Which of the below represents the four outer boxes?
A) buyer power, systems power, threat of false entrants, and threat of substitute products or services
B) buyer power, systems power, threat of new entrants, and threat of substitute products or services
C) buyer power, supplier power, threat of new entrants, and threat of substitute products or services
D) business power, supplier power, threat of new entrants, and threat of powerful services
408) Shawn McGill is on the executive board for ABC pharmaceuticals. The company produces the number one selling cancer fighting drug on the market. Due to its incredible success, ABC pharmaceuticals has decided to increase the cost of the drug from $8 a pill to $15 a pill. Which force is ABC pharmaceutical using to increase its drug price?
A) supplier power
B) buyer power
C) threat of false entrants
D) business power
409) What is one of the most common ways a company can decrease supplier power?
A) Charge lower prices.
B) Charge higher prices.
C) Use MIS to find and create alternative products.
D) Companies cannot impact supplier power.
410) If a supplier has high power what can it do to influence its industry?
A) Charge higher prices.
B) Shift costs to industry participants.
C) Limit quality or services.
D) All of these.
411) How can a company reduce the threat of substitute products or services?
A) Market the product to less than ten customers.
B) Ignore competitive forces.
C) Offer additional value through wider product distribution.
D) Offer less value making the product far more generic and similar to the competition.
412) Which one of Porter's five forces is high when it is easy for new competitors to enter a market and low when there are significant entry barriers to joining a market?
A) threat of new entrants
B) threat of substitute products or services
C) threat of buyer power
D) supply chain competition
413) John Cleaver is the CEO of Tech World, which is a retail store that sells computers, monitors, cameras, televisions, and many other electronic products. John and his executive team are meeting to brainstorm new ideas on how to grow the business. One idea is to mimic a competitor's product that is attempting to sell a new product in a different industry. After performing a Porter's Five Forces analysis John determines that all of the forces are high in this new industry. What should John do?
A) Explode into the market with an overflow of the product.
B) Contemplate other products to introduce at the same time in this new market.
C) Compare the competitor's prices and offer his product lower in this new market.
D) Not introduce the product because all five forces are strong and this would be a highly risky business strategy.
414) What is a feature of a product or service that customers have come to expect and entering competitors must offer the same if they want to survive?
A) significant barrier
B) entry barrier
C) product differentiation
D) entry chain
415) Which of the following represents a typical supply chain?
A) company – customers – suppliers
B) company – suppliers – customers
C) suppliers – company – customers
D) suppliers – customers – company
416) Imagine you are creating a new product to sell in an up-and-coming market. Which of the below statements indicates that it would be easy for you as the new entrants to compete in this market?
A) The threat of new entrants' force is high in the up-and-coming market.
B) The threat of new entrants' force is low in the up-and-coming market.
C) The threat of new entrants' force is impossible to define in the up-and-coming market.
D) All of these depending on the time of year.
417) Imagine you are creating a new product to sell in an up-and-coming market. Which of the below statements indicates that it would be difficult for you to enter this new market?
A) The threat of new entrants' force is high in the up-and-coming market.
B) The threat of new entrants' force is low in the up-and-coming market.
C) The threat of new entrants' force is high during the summer months in the up-and-coming market.
D) All of these depending on the time of year.
418) Which of the following offers an example where Porter's five forces are mostly strong and competition is high?
A) a dog-walking business
B) a ski resort
C) a professional hockey team
D) all of these
419) Which of the following offers an example where Porter's five forces are mostly weak and competition is low?
A) an international hotel chain purchasing milk
B) a coffee shop
C) a single consumer purchasing milk
D) a dog-walking business
420) Some industries' competition is much more intense than others. Retail grocery stores such as Kroger, Safeway, and Albertson's in the United States experience fierce competition and offer similar marketing campaigns to compete. What is this an example of in terms of Porter's Five Forces?
A) rivalry among new entrants
B) rivalry among existing competitors
C) threat of substitute products or services
D) buyer power
421) Amazon.com uses a customer profiling system whenever a customer visits its website. Using this system, Amazon can offer products tailored to that particular customer's profile and buying pattern. What is Amazon using to achieve this competitive advantage?
A) rivalry
B) buyer power
C) product differentiation
D) substitute product
422) Your boss, Ty Jacob, has asked you to analyze the music industry using Porter's Five Forces Model. Which of the following represents supplier power in the music industry?
A) established record labels like EMI, Sony, and Universal
B) Walmart, Target, iTunes
C) game systems like Wii, social networks like Facebook
D) Taylor Swift, Beyoncé, the Beatles, the Stones
423) Your boss, Ty Jacob, has asked you to analyze the music industry using Porter's Five Forces Model. Which of the following represents buyer power in the music industry?
A) established record labels like EMI, Sony, and Universal
B) Walmart, Target, iTunes
C) independent record labels
D) game systems like Wii, social networks like Facebook
424) Your boss, Ty Jacob, has asked you to analyze the music industry using Porter's Five Forces Model. Which of the following represents the threat of substitute products or services in the music industry?
A) established record labels like EMI, Sony, and Universal
B) independent record labels
C) game systems like Wii, social networks like Facebook
D) Taylor Swift, Beyoncé, the Beatles, the Stones
425) Your boss, Kerry Miller, has asked you to analyze the soft drink industry using Porter's Five Forces Model. Which of the following represents supplier power in the soft drink industry?
A) Pepsi requires stores that carry Pepsi products to commit to minimum orders of 1,000 cases.
B) Walmart negotiates a lower cost per bottle from Coke in exchange for premium shelf space in every Walmart store.
C) Zevia Natural Diet Soda begins selling directly over the Internet.
D) Vitamin water, fruit juice, coffee.
426) Your boss, Kerry Miller, has asked you to analyze the soft drink industry using Porter's Five Forces Model. Which of the following represents buyer power in the soft drink industry?
A) Pepsi requires stores that carry Pepsi products to commit to minimum orders of 1,000 cases.
B) Walmart negotiates a lower cost per bottle from Coke in exchange for premium shelf space in every Walmart store.
C) Zevia Natural Diet Soda begins selling directly over the Internet.
D) Vitamin water, fruit juice, coffee.
E) Coke and Pepsi submit bids to the owner of a football stadium for the exclusive sale of their products during games.
427) Your boss, Kerry Miller, has asked you to analyze the soft drink industry using Porter's Five Forces Model. Which of the following represents a threat of a new entrant in the soft drink industry?
A) Pepsi requires stores that carry Pepsi products to commit to minimum orders of 1,000 cases.
B) Walmart negotiates a lower cost per bottle from Coke in exchange for premium shelf space in every Walmart store.
C) Zevia Natural Diet Soda begins selling directly over the Internet.
D) Vitamin water, fruit juice, coffee.
428) Your boss, Kerry Miller, has asked you to analyze the soft drink industry using Porter's Five Forces Model. Which of the following represents a substitute product in the soft drink industry?
A) Pepsi requires stores that carry Pepsi products to commit to minimum orders of 1,000 cases.
B) Walmart negotiates a lower cost per bottle from Coke in exchange for premium shelf space in every Walmart store.
C) Zevia Natural Diet Soda begins selling directly over the Internet.
D) Vitamin water, fruit juice, coffee.
429) What is buyer power?
A) the ability of buyers to affect the price they must pay for an item
B) the suppliers' ability to influence the prices they charge for supplies (including materials, labor, and services)
C) high when it is easy for new competitors to enter a market and low when there are significant entry barriers to joining a market
D) high when there are many alternatives to a product or service and low when there are few alternatives from which to choose
430) What is supplier power?
A) the ability of buyers to affect the price they must pay for an item
B) the suppliers' ability to influence the prices they charge for supplies (including materials, labor, and services)
C) high when it is easy for new competitors to enter a market and low when there are significant entry barriers to joining a market
D) high when there are many alternatives to a product or service and low when there are few alternatives from which to choose
431) What is threat of substitute products or services?
A) the ability of buyers to affect the price they must pay for an item
B) the suppliers' ability to influence the prices they charge for supplies (including materials, labor, and services)
C) high when it is easy for new competitors to enter a market and low when there are significant entry barriers to joining a market
D) high when there are many alternatives to a product or service and low when there are few alternatives from which to choose
432) What is threat of new entrants?
A) the ability of buyers to affect the price they must pay for an item
B) the suppliers' ability to influence the prices they charge for supplies (including materials, labor, and services)
C) high when it is easy for new competitors to enter a market and low when there are significant entry barriers to joining a market
D) high when there are many alternatives to a product or service and low when there are few alternatives from which to choose
433) What is rivalry among existing competitors?
A) the ability of buyers to affect the price they must pay for an item
B) the suppliers' ability to influence the prices they charge for supplies (including materials, labor, and services)
C) high when it is easy for new competitors to enter a market and low when there are significant entry barriers to joining a market
D) high when competition is fierce in a market and low when competitors are more complacent
434) Your boss, Kerry Miller, has asked you to analyze the soft drink industry using Porter's Five Forces Model. Which of the following represents rivalry in the soft drink industry?
A) Pepsi requires stores that carry Pepsi products to commit to minimum orders of 1,000 cases.
B) Walmart negotiates a lower cost per bottle from Coke in exchange for premium shelf space in every Walmart store.
C) Zevia Natural Diet Soda begins selling directly over the Internet.
D) Coke and Pepsi submit bids to the owner of a football stadium for the exclusive sale of their products during games.
435) Porter identified three generic strategies that a business could follow after identifying a market it wanted to enter. Which of the following is not included as one of Porter's three generic strategies?
A) broad differentiation
B) supplier cost differentiation
C) focused strategy
D) broad cost leadership
436) When analyzing Porter's three generic strategies for entering a market, if you have a focused strategy what market should you target?
A) a niche market
B) a broad market
C) neither niche or broad markets
D) both niche and broad markets
437) Which of the following offers an example of a company operating in a narrow focused-market operating as the low-cost provider?
A) Walmart
B) Tiffany & Co
C) Neiman Marcus
D) Payless Shoes
438) Broad differentiation, broad cost leadership, and ________ create the three generic strategies identified by Porter.
A) narrow market leadership
B) high cost versus low cost
C) focused strategy
D) None of these.
439) Jennifer Bloom is writing a paper and she must determine which of Porter's three generic strategies The Museum Company has implemented. Jennifer finds out that The Museum Company offers specialty products found only in museums around the world to affluent customers. What would Jennifer determine The Museum Company is using as its generic strategy?
A) broad market, low cost
B) narrow market, high cost
C) broad market, high cost
D) narrow market, low cost
440) According to Porter, companies that wish to dominate broad markets should operate using a ________ strategy.
A) cost leadership with a low cost
B) differentiation with a low cost
C) cost leadership with a high cost
D) all of these
441) Which of the following demonstrates a company that has implemented a low cost, broad market strategy?
A) Neiman Marcus
B) Payless Shoes
C) the Sharper Image
D) Walmart
442) If a business is following a focused strategy, then its competitive scope is
A) broad market.
B) narrow market.
C) broad range products.
D) broad range of services.
443) When applying Porter's three generic strategies, Tiffany & Co. has a competitive scope and cost strategy that is
A) broad market – high-cost strategy.
B) narrow market – low-cost strategy.
C) narrow market – high-cost strategy.
D) broad market – low-cost strategy.
444) When analyzing the book store industry, some of today's businesses compete with different business strategies and cost strategies. Which of the following is using a broad market competitive scope along with a low-cost strategy?
A) Amazon.com
B) any local independent book store that specializes in antique books
C) Barnes & Noble
D) Borders books
445) Which of the below is similar to focused strategy versus broad strategy?
A) large market versus leadership
B) large market versus uniqueness
C) niche market versus large market
D) niche market versus generic
446) Your boss, Penny Dirks, has asked you to analyze the airline industry using Porter's three generic strategies. Which of the following companies are using a cost leadership strategy?
A) Southwest, Horizon, Frontier, JetBlue
B) British Airways, Singapore Airlines, Virgin Atlantic
C) Sky Taxi—a rent by the hour personal plane service
D) all of these
447) Your boss, Penny Dirks, has asked you to analyze the airline industry using Porter's three generic strategies. Which of the following companies are using a differentiation strategy?
A) Southwest, Horizon, Frontier, JetBlue
B) British Airways, Singapore Airlines, Virgin Atlantic
C) Sky Taxi—a rent by the hour personal plane service
D) all of these
448) Your boss, Penny Dirks, has asked you to analyze the airline industry using Porter's three generic strategies. Which of the following companies are using a focused strategy?
A) Southwest, Horizon, Frontier, JetBlue
B) British Airways, Singapore Airlines, Virgin Atlantic
C) Sky Taxi—a rent by the hour personal plane service
D) all of these
449) When reviewing Porter's value chain analysis, which of the below provides customer support after the sale of goods and services?
A) inbound logistics
B) outbound logistics
C) operations
D) service
450) Which of the below represents procurement as part of the support value activities in a value chain analysis?
A) purchases inputs such as raw materials, resources, equipment, and supplies
B) applies MIS to processes to add value
C) distributes goods and services to customers
D) promotes, prices, and sells products to customers
451) What includes support value activities and primary value activities and is used to determine how to create the greatest possible value for customers?
A) supplier power
B) operations management
C) Porter's Five Forces Model
D) the value chain analysis
452) What is a standardized set of activities that accomplishes a specific task?
A) business strategy
B) business outcome
C) business process
D) knowledge process
453) Which of the following analyzes a company's business processes and is useful for determining how to create the greatest possible value for customers?
A) product analysis
B) primary supplier power
C) value chain analysis
D) buyer chain analysis
454) The goal of value chain analysis is to identify processes in which the firm can add value for the customer and create a competitive advantage for itself, with a ________ or ________.
A) focused strategy; product differentiation
B) focused strategy; cost advantage
C) cost advantage; primary value activities
D) cost advantage; product differentiation
455) What are the two main categories in a value chain analysis?
A) primary value activities and secondary value activities
B) primary value activities and support value activities
C) primary value activities and strengthening value activities
D) none of these
456) Which of the following is not considered a category within the primary value activities in a value chain analysis?
A) inbound logistics
B) firm infrastructure
C) operations
D) service
457) Which of the following is not considered a category within the support value activities in a value chain analysis?
A) technology development
B) outbound logistics
C) human resource management
D) firm infrastructure
458) What is the support value activity that provides employees with training, hiring, and compensation?
A) procurement
B) operations resource management
C) human resource management
D) firm infrastructure
459) Sandy Fiero works as the chief knowledge officer for Bend Lumbar Company. She has been given the responsibility to create a product or service that will bring an added value to its customers to increase the company's revenue. Sandy determines that the best value she can add is by creating a service that offers free next day shipping on any order over $50. Where in the value chain is Sandy adding value?
A) the primary value activity outbound logistics
B) the primary value activity inbound logistics
C) the primary value activity marketing and sales
D) the primary value activity operations
460) When evaluating the value chain, all of the following are included in the primary value activities except
A) inbound activities.
B) operations.
C) service.
D) MIS development.
461) When evaluating the value chain, which of the following is included in the support value activities?
A) inbound activities
B) marketing and sales
C) firm infrastructure
D) finance and sales
462) Which of the following decisions does a firm need to make as soon as it has identified the activities from the value chain that are bringing the highest added value to their customers?
A) Target high value-adding activities to further enhance their value.
B) Target low value-adding activities to increase their value.
C) Perform some combination of the two.
D) All of these.
463) MIS can add value to both primary activities and support activities in the value chain. Which of the following is not an example of a company adding value by the use of MIS in a primary activity?
A) Scottrade Corp. creating an online system for employees to track paychecks, benefits, wellness rewards program, and other employee benefit items.
B) A system for the sales and marketing departments to track specific sales targets and follow up processes.
C) An easy electronic survey, similar to the survey monkey, to be sent to the customer right after a service was completed.
D) Royal Crest Dairy using their custom order and delivery system through an easily accessible Web portal for the customer to track delivery status.
464) MIS can add value to both primary and support activities within a business. Which of the following is not an example of a company adding value by the use of MIS in a support activity?
A) Netflix creating a business strategy for the video rental market that delivers videos via the mail.
B) The human resources department creates a tracking system to efficiently reward employees based on their performance.
C) Scottrade Corp. creating an online system for employees to track paychecks, benefits, wellness rewards program, and other employee benefit items.
D) The University of Forks creates a program to automatically order office supplies such as pens and pads of paper for its employees.
465) Describe the information age and the differences between data, information, business intelligence, and knowledge.
466) Identify the different departments in a company and why they must work together to achieve success.
467) Define the six primary MIS-related strategic positions in an organization along with their associated responsibilities.
468) Explain systems thinking and how management information systems enable business communications.
469) Explain why competitive advantages are temporary.
470) Describe Porter's Five Forces Model and explain each of the five forces.
471) Compare Porter's three generic strategies.
472) Demonstrate how a company can add value by using Porter's value chain analysis.
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M Information Systems 5th Edition | Test Bank with Answer Key by Paige Baltzan
By Paige Baltzan