IS 290 Cronk Test 1- Chapters 1-2 – Flashcards
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Which of the following represents the department that maintains policies, plans, and procedures for the effective management of employees?
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Human Resources
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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 stands for?
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Management Information Systems.
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How does the text recommend that a company operate if it wants to be successful in the information age?
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Interdependently between departments.
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Which of the following does not offer a good example of a system? A car. A laptop. The light-rail tram. A pencil.
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A pencil.
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Consider a home theater system. Which of the following represents the input(s)? -The DVD player, DVD movie, speakers, TV, and electricity. -Playing the movie, including the audio through the speakers and the video on the TV. -A message stating that the disk is dirty and cannot be played. -Spinning the disk to play, pause, rewind, or fast forward.
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The DVD player, DVD movie, speakers, TV, and electricity.
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Consider oven as a system. Which of the following represents the output?
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The cooked food.
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Consider an oven as a system. Which of the following represents the input?
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The uncooked food.
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Which of the following is not included as one of Friedman's 10 forces that flattened the world?
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Systems thinking.
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Which of the following represents the relationship between functional areas in a business?
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Interdependent
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Why do students need to study information technology?
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Information technology is everywhere in business.
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Which of the following provides an example of information? -Who is customer number 12345XX? -What is product number 12345XX? -What customer number is Bob Smith? -What is my worst-selling product?
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What is my worst-selling product?
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Consider an oven as a system. Which of the following represents feedback?
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A light indicating that the oven has reached the preheated temperature.
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What is data converted into a meaningful and useful context?
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Information
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Shelby Black runs a 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?
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Feedback
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Which of the following provides an example of data?
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Who is customer number 12345XX?
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Which of the below is the key term that defines the confirmation or validation of an event or object?
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Fact
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The department within a company that supports sales by planning, pricing, and promoting goods or services is called ___________.
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Marketing
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AllThe sales department needs to rely on information from operations to understand _________. inventory customer orders demand forecasts All of these.
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All of these.
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When Friedman describes Globalization 3.0, he discusses 10 forces that ________ the world.
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Flattened
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Which of the following is considered data? Quantity sold Best customer by month Best-selling item by month Worst-selling item by month
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Quantity Sold.
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Consider a home theater system. Which of the following represents the process?
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Spinning the disk to play, pause, rewind, or fast forward.
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Most companies are organized by departments or functional areas. Which of the following is NOT a common department found in a company? Accounting. Payroll. Marketing. Human Resources.
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Payroll
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As companies move from data to knowledge, they start to include more and more variables for analysis, resulting in better, more precise support for _____________.
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both decision making and problem solving
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What is a way of monitoring the entire system in a company by viewing the multiple inputs being processed to produce outputs?
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Systems thinking
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Consider a home theater system. Which of the following represents the output(s)?
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Playing the movie, including the audio through the speakers and the video on the TV.
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Consider a washing machine as a system. Which of the following represents the inputs?
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The dirty clothes, water, and detergent.
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Which of the following is considered information?
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Best-selling item by month
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Which of the following provides an accurate definition of systems thinking?
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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.
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Which four elements are included in systems thinking?
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Input, Process, Output, and Feedback.
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MIS is a business function. Which of the following does MIS perform to help aid the company in decision making and problem solving? Moves information about people. Moves information about processes across the company to improve systems. Moves information about products. All of these.
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All of these.
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Consider a washing machine as a system. Which of the following represents the output?
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The clean clothes.
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Which of the following statements is true?
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IT enables business success and innovation.
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Consider a washing machine as a system. Which of the following represents feedback?
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The light indicating that the washer is off balance and has stopped.
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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? Suppliers. Customers. Competitors. All of these.
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All of these.
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Which of the following is typically performed by the sales or marketing department?
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Maintain transactional data.
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Consider an oven as a system. Which of the following represents the process?
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The oven running at 350 degrees for 20 minutes.
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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?
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Craig Newmark customer number is 15467.
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One challenge that companies today sometimes have is that they are departmentalized and the departments act independently of each other. One solution that can help a company work interdepartmentally includes ___________.
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Management information systems
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Which of the following is included as one of Friedman's 10 forces that flattened the world?
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Wireless technologies.
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Information technology can enable departments to more efficiently and effectively perform their core _____________.
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business operations
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Which of the following is not a topic associated with the information age?
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College statistics for data.
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Data is useful for understanding individual sales, but to gain deeper insight into a business, data needs to be turned into information. Which of the following offers an example of turning data into information? Who are my best customers? What is my best-selling product? What is my worst-selling product? All of these
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All of these.
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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?
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Business intelligence.
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What is the name of a company's internal MIS department? Management information systems (MIS) Information systems (IS) Information technology (IT) All of these
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All of these.
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Consider a home theater system. Which of the following represents the feedback?
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A message stating that the disk is dirty and cannot be played.
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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?
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Operations Manager
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The department within a company that records, measures, and reports monetary transactions is called _______________.
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Accounting
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The department within a company that performs the function of selling goods or services is called _______________.
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Sales
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How are the majority of companies today typically organized?
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By departments or functional areas.
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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?
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Best-selling product by day.
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A __________ advantage features a product or service on which customers place a greater value than they do on similar offerings from competitors.
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Competitive
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A business strategy achieves a specific set of goals, which include __________.
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attracting new customers and developing new products or services
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According to Porter's value chain analysis, which of the following provides customer support after the sale of goods and services?
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Service.
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All of the following are common tools used in industry to analyze and develop competitive advantages, except: Five Forces Model Three generic strategies Competitive analysis model Value chain analysis
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Competitive analysis model
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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?
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Product differentiation.
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Broad differentiation, broad cost leadership, and _________ are the three generic strategies identified by Porter.
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focused strategy
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Competitive intelligence is the process of gathering information about the competitive environment, including _________. competitors' employees competitors' differentiated processes competitors' plans All of these
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All of these.
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Greg Provenzo owns and runs a Blockbuster video store. Greg is implementing a drive-thru rental process that is the same as you would find at a fast-food restaurant. Customers can pick up and drop off their videos without leaving their cars. Greg's new system has become so popular that Videos Plus, a competitor down the street, is attempting to re-create Greg's video drive-thru rental process. Greg's system is an example of a _________.
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First-mover advantage
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How can a company reduce the threat of substitute products or services?
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Offer additional value through wider product distribution.
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Identifying competitive advantages can be difficult and explains why they are typically _______.
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temporary
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If a business is following a focused strategy, then its competitive scope is ________.
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Narrow Market
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If a supplier has high power, what can it do to influence its industry? Charge higher prices. Shift costs to industry participants. Limit quality or services. All of these.
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All of these.
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Imagine you are creating a new product to sell in an up and coming market. Which of the following statements indicates that it would be easy for you, as the new entrant, to compete in this market?
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The threat of new entrants is high in the up and coming market.
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In the bookstore 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?
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Amazon.com
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In the center of Porter's Five Forces Model is competition. Which of the following represents the four outer boxes?
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Buyer power, supplier power, threat of new entrants, and threat of substitute products or services
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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?
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Narrow market, high cost.
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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? Increasing buyer power.
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Increasing buyer power.
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___________ make customers reluctant to switch to another product or service.
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Switching costs.
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Michael Porter defined the Five Forces Model and the potential pressures that can hurt sales. Which of the following is one of the potential pressures that can hurt sales? Suppliers can drive down profits by charging more for supplies. New market entrants can steal potential investment capital. Substitute products can steal customers. All of these.
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All of these.
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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 using MIS in a primary activity?
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Scottrade Corp. creating an online system for employees to track paychecks, benefits, the wellness-rewards program, and other employee benefit items.
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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?
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Netflix creating a business strategy for the video rental market that delivers videos via the mail.
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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?
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Supplier cost differentiation.
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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 Pharmaceuticals using to increase its drug price?
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Supplier Power
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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?
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Rivalry among existing competitors.
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Steve Jobs and Apple created a big advantage in the technology industry with the introduction of the iPod, iPhone, and iPad. What are these all examples of?
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Competitive Advantage.
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The banking industry has implemented several competitive advantages, including ATMs, 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 are examples of ___________.
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acquiring new technology products and services
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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 ________________.
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cost advantage, product differentiation
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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 ___________.
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Feedback
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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 two-year subscription a free OtterBox 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?
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Decrease buyer power.
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Updating business strategies is a continuous undertaking, as internal and external environments ________.
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Rapidly Change
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What are the two main categories in a value chain analysis?
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Primary value activities and support value activities.
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What includes all parties involved, directly or indirectly, in obtaining raw materials or a product?
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Supply Chain
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What includes support-value activities and primary-value activities and is used to determine how to create the greatest possible value for customers?
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Value chain Analysis
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What is a competitive advantage?
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A feature of a product or service on which customers place a greater value than on similar offerings from competitors.
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What is a feature of a product or service that customers have come to expect and that entering competitors must match if they want to survive?
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Entry Barrier
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What is a standardized set of activities that accomplishes a specific task?
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Business process
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What is one of the most common ways a company can decrease supplier power?
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Use MIS to find and create alternative products.
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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 ____________.
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Microsoft - Bing search engine
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When applying Porter's three generic strategies, Tiffany & Co. has a competitive scope and cost strategy that is a __________.
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narrow market, high cost strategy
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When buyer power is low, supplier power is typically ______.
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high
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When evaluating the value chain, all of the following are included in the primary value activities except: Inbound activities. Operations. Service. MIS development.
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MIS development
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Which of the following represents procurement as part of the support value activities in a value chain analysis?
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Purchases inputs, such as raw materials, resources, equipment, and supplies.
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Which of the following offers an example where Porter's five forces are mostly strong and competition is high?
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A dog walking business.
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Which of the following offers an example where Porter's five forces are mostly weak and competition is low?
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An international hotel chain purchasing milk.
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Which of the following offers an example of a company operating in a narrow, focused market operating as the low-cost provider?
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Payless Shoes
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Which of the following demonstrates a company that has implemented a low-cost, broad-market strategy?
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Walmart
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Which of the following is similar to focused strategy versus broad strategy?
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Niche market versus large market.
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Which of the following analyzes a company's business processes and is useful for determining how to create the greatest possible value for customers?
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Value chain analysis.
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Which of the following is not considered a category within the primary value activities in a value chain analysis?
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Firm infrastructure.
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Which of the following is not considered a category within the support value activities in a value chain analysis?
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Outbound logistics.
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Which of the following is a reason why competitive advantages are typically temporary? The competitor hiring your key employees. The competitor seeking ways to duplicate your business operations. The competitor acquiring new technology. All of these.
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All of these.
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Which of the following is included in Porter's Five Forces Model?
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the power of competitors
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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?
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threat of new entrants
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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?
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Walmart negotiates a lower cost per bottle from Coke in exchange for premium shelf space in every Walmart store.
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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?
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Vitamin water, fruit juice, and coffee.
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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?
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Coke and Pepsi submit bids to the owner of a football stadium for the exclusive sale of their products during games.
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Your boss, Tom Repicci, has asked you to analyze the airline industry using Porter's three generic strategies. Which of the following companies are using a focused strategy?
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Sky Taxi, a rent-by-the-hour personal plane service.
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Your boss, Tom Repicci, has asked you to analyze the airline industry using Porter's three generic strategies. Which of the following companies are using a differentiation strategy?
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British Airways, Singapore Airlines, and Virgin Atlantic.
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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?
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Established record labels like EMI, Sony, and Universal.
