MIS quiz #1
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a data characteristic that stands for a value that changes or varies over time
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variable
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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?
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target high value-adding activities to further enhance their value target low value-adding activities to increase their value perform some combination of the two
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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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example of data
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who is customer number 12345xx?
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when buyer power is low, supplier power is typically ________
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high
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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. Examples of turning data into information:
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who are my best customers? what is my best-selling product? what is my worst-selling product?
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your boss, kerry miller, has asked you analyze the soft-drink industry using Porter's Five Forces Model. Which of the following represents supplier power in the soft-drink industry?
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pepsi requires stores that carry Pepsi products to commit to minimum orders of 1000 cases
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not a topic associated with the information age:
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college statistics for data
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imagine you are creating a new product to sell in an up and coming market. what statement indicates that it would be difficult for you to enter this new market?
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the threat of new entrants force is low in the up and coming market
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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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your boss, tom repicci, has asked you to analyze the airline industry using Porter's three generic strategies. Company using a focused strategy:
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sky taxi - a rent by the hour personal plane service
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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?
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chief privacy officer (CPO)
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if a supplier has high power, what can it do to influence its industry?
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charge higher prices shift costs to industry participants limit quality or services
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not a typical way that a company would duplicate a competitive advantage:
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carrying large product inventories
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feedback is information that returns to its original transmitter and modifies the transmitter's actions. what would the original transmitter include?
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input, transform, output
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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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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, tom repicci, 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?
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southwest, horizon, frontier, jetblue
