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Macroeconomics Chapter 37 – Flashcards 10 terms

Jason Westley

10 terms

Preview

Macroeconomics Chapter 37 – Flashcards

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Rational expectations theory assumes that:

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-people behave rationally and that all product and resource prices are flexible both upward and downward

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The equation underlying the mainstream view of macroeconomics is:

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-C (sub a) + I (sub g) + X (sub n) + G = GDP

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According to monetarists:

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-changes in the money supply are the primary cause of changes in the price level

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The basic equation of monetarism is:

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-MV=PQ

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Monetarists believe that:

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-velocity is relatively stable

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New classical economists:

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-hold that, left alone, the economy gravitates to its full-employment level of output

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Economist Milton Friedman is most closely associated with:

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-monetarism

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The velocity of money is the:

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-number of times per year the average dollar is spent on final goods and services

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Monetarists say:

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-a change in the money supply will change aggregate demand and therefore the nominal GDP

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The mainstream view is that macro instability is caused by:

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-significant changes in investment spending

STUDY

First Mover Advantage Five Forces Model Information About Products Strategic Decision Making Value Chain Analysis

MIS FINAL – Flashcard 87 terms

Viola Marenco

87 terms

Preview

MIS FINAL – Flashcard

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Which of the following is not included as one of Friedman's 10 forces that flattened the world? A. Systems Thinking. B. Outsourcing. C. Informing. D. Supply Chaining.

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2. 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.

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3. Which of the following is considered information? A. Quantity sold B. Date sold C. Best-selling item by month D. All of these

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4. 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

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5. 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.

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? a or b? CH1 Q5

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6. 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. 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.

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7. 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? A. Who are my best customers? B. What is my best-selling product? C. What is my worst-selling product? D. All of these

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8. 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?

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9. 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?

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10. 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.

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?D? CH1 Q10

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11. Which of the following is not a topic associated with the information age? A. Collection of data. B. Storage of data. C. College statistics for data. D. Use of data.

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?C? CH1Q11

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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? A. Supplier's intelligence. B. Social intelligence. C. Employee intelligence. D. Business intelligence.

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When Friedman describes Globalization 3.0, he discuss 10 forces that ________ the world. A. Increased B. Shrunk C. Prioritized D. Flattened

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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.

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Which of the following is included as one of Friedman's 10 forces that flattened the world? A. Wireless technologies. B. Global-warming effects. C. Social environmental technologies. D. Hazardous waste environmental impacts.

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What is data converted into a meaningful and useful context? A. Competitive intelligence. B. Information. C. Buyer power. D. First-mover advantage.

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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 _____________. A. Decision making. B. Problem solving. C. Both decision making and problem solving. D. None of these.

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CH1Q17?C?

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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. All of these.

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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.

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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? A. Accounting. B. Payroll. C. Marketing. D. Human Resources.

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Which of the following is typically performed by the sales or marketing department? A. Manage enterprise-wide processes. B. Maintain employment policies. C. Manage cross-enterprise processes. D. Maintain transactional data.

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The sales department needs to rely on information from operations to understand _________. A. Inventory. B. Customer orders. C. Demand forecasts. D. All of these.

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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.

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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? A. Accounting Manager. B. Operations Manager. C. Marketing Manager. D. CIO.

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Information technology can enable departments to more efficiently and effectively perform their core _____________. A. Facts. B. Feedback mechanisms. C. Business operations. D. Media issues.

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C CH1Q25

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The department within a company that records, measures, and reports monetary transactions is called _______________. A. Accounting. B. Marketing. C. Finance. D. Operations Management.

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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.

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The department within a company that supports sales by planning, pricing, and promoting goods or services is called ___________. A. Sales. B. Operations Management. C. Accounting. D. Marketing.

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Which of the following represents the relationship between functional areas in a business? A. Independent B. Autonomous C. Interdependent D. Self-sufficient

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Which of the following statements is true? A. IT equals business success. B. IT equals business innovation. C. IT represents business success and innovation. D. IT enables business success and innovation.

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What is the name of a company's internal MIS department? A. Management information systems (MIS) B. Information systems (IS) C. Information technology (IT) D. All of these

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CH1Q31 D?

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A system is a collection of parts that link together to ___________. A. Monitor the company. B. Gather experience. C. Achieve a common purpose. D. Implement solutions.

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Which of the following does not offer a good example of a system? A. A car. B. A laptop. C. The light-rail tram. D. A pencil.

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D?CH1Q33

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. 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.

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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? A. Management Information Strategy. B. Management Intelligence System. C. Management Information Systems. D. Management Information Strategist.

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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? A. Feedback. B. Processing. C. Output management. D. Sales processing.

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A?CH1Q38

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37. 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 ___________. A. System processes. B. Human resources. C. Management information systems. D. Resource information systems.

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C?CH1Q37

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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? A. Feedback thinking. B. Systems thinking. C. Output management. D. Operational thinking.

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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? A. Input, Transform, Output. B. Input, Transform, Outnumber. C. Output, Input, Performer. D. Input, Process, Transform.

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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? A. Moves information about people. B. Moves information about processes across the company to improve systems. C. Moves information about products. D. All of these.

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?CH1Q40

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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.

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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.

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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.

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Consider 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.

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Consider 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.

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Consider a washing machine as a system. Which of the following represents 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.

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Consider 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.

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Consider 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.

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Consider 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.

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Consider 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.

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Consider an oven as a system. Which of the following represents 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.

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C?CH1Q51

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. Consider 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.

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Consider 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.

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Consider 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.

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Consider 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.

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1. 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.

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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 ____________. A. FedEx-the online self-service software. B. Apple-iPad. C. Apple-iPod. D. Microsoft-Bing search engine.

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A business strategy achieves a specific set of goals, which include __________. A. Developing new products or services and attracting new competition. B. Increasing costs and attracting new competition. C. Attracting new customers and developing new products or services. D. All of these.

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Competitive intelligence is the process of gathering information about the competitive environment, including _________. A. Competitors' employees. B. Competitors' differentiated processes. C. Competitors' plans. D. All of these.

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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.

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...A

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Identifying competitive advantages can be difficult and explains why they are typically _______. A. Temporary. B. Satisfactory. C. Terminated. D. Unsuccessful.

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...A

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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.

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...C?CH2Q7

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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.

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...D

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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.

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...D

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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

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...C

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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 _________. A. Supply chain power. B. First-mover advantage. C. Business processing strategy. D. Business Intelligence.

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...B

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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 ___________. A. Feedback. B. Information. C. Competitive intelligence. D. Data.

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...C

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13. 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? A. Competitive advantage B. Competitive intelligence C. First-mover advantage D. All of these

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...?C?

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Paula Logston is the owner and operator of a high-end online custom clothing company. Paula has never heard of Porter's Five-Forces Model, and she wants to understand why she would perform an analysis using it. If you were tasked with explaining Porter's Five-Forces Model to Paula, what would be the primary reason she would want to use this type of analysis? A. To help Paula choose a clothing business focus. B. To help Paula evaluate the attractiveness of the clothing industry. C. To help Paula evaluate and execute business goals. D. All of these.

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...D?

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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. A. Competitive B. Competitor C. Power D. First-mover

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...A

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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 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.

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...D?CH2Q16

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17. 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

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...C

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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 were all examples of ___________ competitive advantages. A. acquiring new technology products and services B. hiring new employees C. reducing expenses D. gaining invaluable feedback from customers

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...A

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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. All of these.

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...????CH2Q19

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Which of the following is included in Porter's Five-Forces Model? A. Loyalty expenses. B. Supply chain management. C. The power of competitors. D. Systems thinking.

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...???

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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? A. Collecting business intelligence. B. Decreasing entry barriers. C. Purchasing a substitute product. D. Increasing buyer power.

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...D

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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.

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..B

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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.

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...A

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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.

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...B

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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.

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...

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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

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...C

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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? A. Supplier power. B. Buyer power. C. Threat of false entrants. D. Business power.

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...A

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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 affect supplier power.

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...C

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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.

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...D??

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30. When buyer power is low, supplier power is typically ______. A. Identical. B. High. C. Low. D. Unstable.

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...B

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How can a company reduce the threat of substitute products or services? A. Market the product to fewer than 10 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.

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...C

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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? A. Threat of new entrants. B. Threat of substitute products or services. C. Threat of buyer power. D. Supply chain competition.

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...A??

STUDY

Business Management Costs And Risks Costs And Risks Associated First Mover Advantage Foreign Direct Investment International Marketing Marketing Wholly Owned Subsidiaries Wholly Owned Subsidiary

SOM Final Exam Chapter 13 – Flashcards 49 terms

Pat Coker

49 terms

Preview

SOM Final Exam Chapter 13 – Flashcards

question

A firm contemplating expansion should choose a foreign market based on an assessment of the nation's long-run profit potential.

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true

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The attractiveness of a country as a potential market for an international business depends solely on the size of its consumer market.

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false

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Small-scale entrants are more likely to capture first-mover advantages associated with switching costs.

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false

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If an international business can offer a product that has been widely available in that market, the value of that product to consumers is likely to be much greater than if the international business offers a product that has not been widely available in that market.

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false

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The probability of survival decreases if an international business enters a national market after several other foreign firms have already done so.

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false

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In international business, a strategic commitment has a short-term impact and is easily reversible.

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false

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In international business, an early entrant to a foreign market may be at a disadvantage relative to a later entrant, if regulations change in a way that diminishes the value of an early entrant's investments.

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true

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A risk-averse international firm that enters a foreign market on a small scale will increase its potential losses.

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false

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A drawback of exporting is that tariff barriers can make it uneconomical as a mode of entry into a foreign market.

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true

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Exporting, as a mode of entry into foreign markets, does not help a firm achieve experience curve and location economies.

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false

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An international firm that enters into a turnkey deal has a long-term interest in the foreign country.

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false

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Licensing, a mode of entry into a foreign market, gives an international firm tight control over manufacturing, marketing, and strategy that is required for realizing experience curve and location economies.

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false

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Under a cross-licensing agreement, a firm can either request a royalty payment or license some valuable intangible property to a foreign partner.

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false

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Franchising, a mode of entry into a foreign market, helps firms exert greater quality control over franchises in foreign locations.

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false

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If an international firm's core competence is based on proprietary technology, entering a joint venture might risk losing control of that technology to the joint-venture partner.

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true

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Acquiring firms often overpay for the assets of the acquired firms.

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true

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An advantage of establishing a greenfield venture in a foreign country is that it gives the firm a much greater ability to build the kind of subsidiary company that it wants.

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true

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Which of the following is a reason why a relatively poor country may be an attractive target for inward investment? A) Rapid economic growth B) High cost of living C) Less developed infrastructure D) Currency depreciation E) Political instability

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A) Rapid economic growth

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Which of the following factors determines the value that an international business can create in a foreign market? A) Type of political system in the foreign market B) Per capita income in the foreign market C) Population density in the foreign market D) Political stability of the foreign market E) Nature of indigenous competition

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E) Nature of indigenous competition

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In which of the following situations can an international business command higher prices for a particular product in a foreign market? A) When the product offers greater value to customers in the foreign market B) When sales volumes is relatively low in the foreign market C) When domestic competitors are selling alternatives at reduced prices D) When the product is widely available in the foreign market E) When the product is more suitable to other foreign markets

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A) When the product offers greater value to customers in the foreign market

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Which of the following is an example of a first-mover advantage? A) The increased probability of surviving in a foreign market B) The avoidance of pioneering costs that a later entrant into the foreign market has to bear C) The ability to let later entrants ride ahead on the experience curve D) The opportunity to observe and learn from the mistakes of other entrants E) The ability to create switching costs that tie customers into one's products or services

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E) The ability to create switching costs that tie customers into one's products or services

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An early entrant find may find itself at a disadvantage if it: A) has a core competence based on control over technological know-how. B) incurs low development costs. C) faces a subsequent change in business regulations in the host-country. D) considers a greenfield strategy. E) is trying to realize location and experience curve economies.

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C) faces a subsequent change in business regulations in the host-country.

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Which of the following is a risk of entering developing nations like India and China on a large scale? A) Fear of rapid imitation of technology B) Lack of control over quality C) High management turnover D) Lower potential for long-term rewards E) Absence of prior foreign entrants

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E) Absence of prior foreign entrants

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In international business, an advantage of being a late entrant in a foreign market is the ability to: A) create a cost advantage over first movers. B) capture demand by establishing a strong brand name. C) build sales volume and ride down the experience curve before early entrants. D) create switching costs that tie customers into products or services. E) ride on an early entrant's investments in learning and customer education.

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E) ride on an early entrant's investments in learning and customer education.

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Which of the following is a disadvantage of large-scale entry into a foreign market? A) Decrease in a firm's exposure to the foreign market B) Availability of fewer resources to support expansion in other desirable markets C) Inability to build rapid market-share irrespective of the scale of entry D) Limited product acceptance due to the avoidance of potential losses E) Difficulty attracting customers and distributors for the product

answer

B) Availability of fewer resources to support expansion in other desirable markets

question

Small-scale entry into a foreign market makes it difficult to build market share because it: A) is associated with a lack of commitment demonstrated by the foreign firm. B) leads to increased exposure to a foreign market. C) necessitates rapid entry into a foreign market. D) requires that extra time be spent in analyzing a foreign market. E) leads to escalating strategic commitments.

answer

A) is associated with a lack of commitment demonstrated by the foreign firm.

question

Which of the following is an advantage of choosing exporting as a mode of entry into foreign markets? A) A firm has the ability to engage in global strategic coordination. B) A firm can earn returns from process technology skills in countries where FDI is restricted. C) A firm has access to local partner's knowledge. D) A firm can avoid the cost of establishing manufacturing operations in the host country. E) A firm shares the development costs and risks with its host partner.

answer

D) A firm can avoid the cost of establishing manufacturing operations in the host country.

question

How can firms avoid incurring high transport costs when exporting bulk products? A) By taking a minority equity interest B) By setting up subsidiaries irrespective of market reach C) By entering into a turnkey project with a foreign firm D) By reducing the quantity of the product offering E) By manufacturing bulk products regionally

answer

E) By manufacturing bulk products regionally

question

In exporting, problems with local marketing agents can be overcome by: A) entering into cross-licensing agreements with foreign firms. B) changing agents frequently. C) engaging in turnkey projects and exporting process technology to foreign firms. D) selling intangible property to a franchisee and insisting on rules to conduct the business. E) setting up wholly owned subsidiaries in foreign nations to handle local marketing.

answer

E) setting up wholly owned subsidiaries in foreign nations to handle local marketing.

question

Turnkey projects being short-term propositions can be disadvantageous for a firm if a country subsequently proves to be a major market for the output of the process that has been exported. The firm can get around this problem by: A) competing with the local firm in the global market. B) establishing a joint venture with a local firm. C) withholding vital process technology from the local firm. D) selling competitive advantage to competitors. E) taking a minority equity interest in the operation.

answer

E) taking a minority equity interest in the operation.

question

Licensing is NOT attractive to which of the following firms? A) Firms lacking the capital to develop operations overseas B) Firms with intangible properties with business applications that it does not want to develop itself C) Firms unwilling to commit substantial financial resources to an unfamiliar market D) Firms wanting to explore markets but prohibited from doing so by investment barriers E) Firms requiring tight control of operations for realizing experience curve and location economies

answer

E) Firms requiring tight control of operations for realizing experience curve and location economies

question

Which of the following is an advantage of franchising as a mode of entry into foreign markets? A) Manufacturing concerns can be effectively coordinated across adjacent processes. B) The franchiser can support its short-term interests in a country with an unstable economy. C) The franchiser is relieved of many of the costs and risks of opening a foreign market on its own. D) The franchiser can easily maintain uniform quality across many geographically dispersed franchisees. E) The franchiser is allowed to take profits out of one country to support competitive attacks in another.

answer

C) The franchiser is relieved of many of the costs and risks of opening a foreign market on its own.

question

What triggers the conflict of interest over strategy and goals in joint ventures? A) Trying to realize location and experience curve economies B) Risk of being subject to adverse government interference C) Local partner's knowledge of host country's competitive conditions D) Giving control of core technology to the foreign partner E) Shifts in relative bargaining power of venture partners

answer

E) Shifts in relative bargaining power of venture partners

question

Which of the following entry modes into a foreign market best serves a high-tech firm? A) Turnkey projects B) Joint ventures C) Exporting D) Wholly owned subsidiaries E) Franchising

answer

D) Wholly owned subsidiaries

question

The risks associated with learning to do business in a new culture are less if the firm: A) imposes strict marketing guidelines on how to do business. B) engages in global strategic coordination. C) realizes substantial location economies. D) acquires an established host-country enterprise. E) enters a greenfield venture in the host country.

answer

D) acquires an established host-country enterprise.

question

Which of the following is true of international firms considering foreign expansion? A) If the firm's core competence is based on proprietary technology, entering a joint venture might risk losing control of that technology to the joint-venture partner. B) The timing and scale of entry of foreign expansion are minor details in comparison with the choice of foreign market. C) Politically unstable and less developed nations offer favorable benefit-cost-risk trade-off conditions. D) The long-run economic benefits of doing business in a country are solely a function of the country's population size. E) The costs and risks associated with foreign expansion are higher in economically advanced nations.

answer

A) If the firm's core competence is based on proprietary technology, entering a joint venture might risk losing control of that technology to the joint-venture partner.

question

A distinction can be drawn between firms whose core competency is in which of the following? A) Acquisitions and greenfield ventures B) Scale of entry and strategic commitments C) Technological know-how and management know-how D) Cost reductions and entry mode E) Location and experience curves

answer

C) Technological know-how and management know-how

question

Jupiter Systems is a high-tech firm looking to set up operations in a foreign country. The firm's core competency is in technological know-how. Which of the following modes of entry would be most favorable to the firm if it wants to keep a tight control over its technology? A) Joint venture B) Turnkey project C) Wholly owned subsidiary D) Licensing E) Franchising

answer

C) Wholly owned subsidiary

question

Which of the following modes of entry is suitable for service firms where the risk of losing control over the management skills or technological know-how is not much of a concern, and where the firms' valuable asset is their brand name? A) Licensing B) Turnkey projects C) Cross-licensing D) Exporting E) Franchising

answer

E) Franchising

question

What gives a firm tight control for coordinating a globally dispersed value chain? A) Setting up wholly owned marketing subsidiaries B) Using foreign marketing agents C) Signing joint-venture agreements D) Establishing a greenfield venture E) Installing manufacturing units in locations with optimal factor conditions

answer

A) Setting up wholly owned marketing subsidiaries

question

Which of the following is an advantage of acquisitions as a means of entering foreign markets? A) It is much easier to change the culture of an existing organization than build a new organization. B) They give firms access to valuable intangible assets while minimizing a pileup of tangible assets. C) They are quick to execute and help firms to rapidly build their presence in the target foreign market. D) It is easier to convert the operating routines of acquired units than establish routines in new subsidiaries. E) Acquired firms are often undervalued and hence assets can be purchased at minimal prices.

answer

C) They are quick to execute and help firms to rapidly build their presence in the target foreign market.

question

Which of the following is a reason why firms often overpay for the assets of an acquired firm? A) Studies supporting the rise of failed companies post acquisitions B) Evidence of high management turnover post acquisitions C) Inevitable clash between cultures of acquiring and acquired firms D) Interest of more than one party in acquiring a particular firm E) The success rate of acquisitions exceeding that of failures

answer

D) Interest of more than one party in acquiring a particular firm

question

Spring, an American firm, recently acquired another company, Tazel Inc., in Indonesia. The high-level managers at Tazel quit because they could not cope with the domineering and straightforward approach of their American counterparts. This illustrates how acquisitions may fail because: A) an acquiring firm overpays for the assets of an acquired firm. B) managers overestimate their ability to create value from an acquisition. C) there is a clash between the cultures of the acquired and the acquiring firm. D) inadequate pre-acquisition screening has been done. E) integration of operations between the two firms takes longer than forecasted.

answer

C) there is a clash between the cultures of the acquired and the acquiring firm.

question

To reduce the risks of failure of an acquisition, managers must: A) move rapidly after an acquisition to put an integration plan in place. B) ensure that the work cultures are significantly different from each other. C) encourage and facilitate management turnover. D) pay more for the acquired unit to please its existing employees. E) acquire a firm without wasting time on screening.

answer

A) move rapidly after an acquisition to put an integration plan in place.

question

Which of the following is a disadvantage of greenfield ventures? A) It is much more difficult to build an organizational culture from scratch than to change the culture of an existing unit. B) They have a higher potential for throwing up unpleasant surprises. C) A firm does not have the freedom to build the kind of subsidiary that it wants. D) It is slower to establish than acquisitions. E) Companies find it difficult to avoid falling into the trap of the hubris hypothesis.

answer

D) It is slower to establish than acquisitions.

question

48. What are the consequences of an international firm entering a foreign market on a significant scale?

answer

The consequences of entering on a significant scale—entering rapidly—are associated with the value of the resulting strategic commitments. A strategic commitment has a long-term impact and is difficult to reverse. Deciding to enter a foreign market on a significant scale is a major strategic commitment. Strategic commitments, such as rapid large-scale market entry, can have an important influence on the nature of competition in a market. Significant strategic commitments are neither unambiguously good nor bad. Rather, they tend to change the competitive playing field and unleash a number of changes, some of which may be desirable and some of which will not be. It is important for a firm to think through the implications of large-scale entry into a market and act accordingly. Of particular relevance is trying to identify how actual and potential competitors might react to large-scale entry into a market. Also, the large-scale entrant is more likely than the small-scale entrant to be able to capture first-mover advantages associated with demand preemption, scale economies, and switching costs. The value of the commitments that flow from rapid large-scale entry into a foreign market must be balanced against the resulting risks and lack of flexibility associated with significant commitments. But strategic inflexibility can also have value.

question

49. Describe the entry modes that a firm with core competency in technological know-how can choose.

answer

If a firm's competitive advantage (its core competence) is based on control over proprietary technological knowhow, licensing and joint-venture arrangements should be avoided if possible to minimize the risk of losing control over that technology. Thus, if a high-tech firm sets up operations in a foreign country to profit from a core competency in technological know-how, it will probably do so through a wholly owned subsidiary. This rule should not be viewed as hard and fast, however. Sometimes a licensing or joint-venture arrangement can be structured to reduce the risk of licensees or joint-venture partners expropriating technological know-how. Another exception exists when a firm perceives its technological advantage to be only transitory, such as when it expects rapid imitation of its core technology by competitors. In such cases, the firm might want to license its technology as rapidly as possible to foreign firms to gain global acceptance for its technology before the imitation occurs. Such a strategy has some advantages. By licensing its technology to competitors, the firm may deter them from developing their own, possibly superior, technology. Further, by licensing its technology, the firm may establish its technology as the dominant design in the industry. This may ensure a steady stream of royalty payments. However, the attractions of licensing are frequently outweighed by the risks of losing control over technology, and if this is a risk, licensing should be avoided.

question

50. What are the advantages and disadvantages of exporting as a mode of entry into foreign markets?

answer

Exporting has two distinct advantages. First, it avoids the often substantial costs of establishing manufacturing operations in the host country. Second, exporting may help a firm achieve experience curve and location economies. Exporting has a number of drawbacks. First, exporting from the firm's home base may not be appropriate if lower-cost locations for manufacturing the product can be found abroad (i.e., if the firm can realize location economies by moving production elsewhere). Thus, particularly for firms pursuing global or transnational strategies, it may be preferable to manufacture where the mix of factor conditions is most favorable from a value creation perspective and to export to the rest of the world from that location. This is not so much an argument against exporting as an argument against exporting from the firm's home country. A second drawback to exporting is that high transport costs can make exporting uneconomical, particularly for bulk products. One way of getting around this is to manufacture bulk products regionally. This strategy enables the firm to realize some economies from large-scale production and at the same time to limit its transport costs. Another drawback is that tariff barriers can make exporting uneconomical. Similarly, the threat of tariff barriers by the host-country government can make it very risky. A fourth drawback to exporting arises when a firm delegates its marketing, sales, and service in each country where it does business to another company. This is a common approach for manufacturing firms that are just beginning to expand internationally. The other company may be a local agent, or it may be another multinational with extensive international distribution operations. Local agents often carry the products of competing firms and so have divided loyalties. In such cases, the local agent may not do as good a job as the firm would if it managed its marketing itself. Similar problems can occur when another multinational takes on distribution.

question

Describe the disadvantages of Licensing as a mode of entry into the foreign markets

answer

the firm doesn't have the tight control over manufacturing, marketing, and strategy necessary to realize experience curve and location economies --the firm's ability to coordinate strategic moves across countries by using profits earned in one country to support competitive attacks in another is compromised

STUDY

Business Law Business Management Business Studies First Mover Advantage Management Marketing Principles Of Marketing Sports Marketing Unique Selling Point

Business IGCSE: chapter 12 marketing mix:product – Flashcards 20 terms

Kenneth Wheeler

20 terms

Preview

Business IGCSE: chapter 12 marketing mix:product – Flashcards

question

Marketing mix

answer

term used to describe all the activities to advertise a product

question

4 Ps of marketing mix

answer

product price place promotion

question

Types of product

answer

1. consumer goods 2. consumer service 3. producer goods 4. producer service

question

the product need to

answer

1. satisfy customer wants and needs 2. right quality 3. price must ensure profit to be made 4. design must be able to last a long time

question

process of developing product

answer

1. generate new idea 2. select best idea for further research 3. decide if company is able to seek enough 4. develop prototype 5. test the market 6. full launch

question

Benefit of developing product

answer

1. Unique selling point 2. diversification of business 3. expand to new market 4. expan to existing market

question

Unique selling point

answer

1. special feature that differentiates from competitor's products

question

disadvantage of developing new product

answer

1. cost of market research and analysing 2. cost of trial product 3. lack of sale if wrong target market 4. loss of company image if new product fail to meet customer needs

question

brand name

answer

1. unique name to distinguish from other brands

question

brand loyalty

answer

1. customer keep buying same brand over and over again instead of choosing competitor's products

question

Brand image

answer

1. image or identity given to a product which gives it a personality of its own and distinguish it from competitors

question

Packaging

answer

physical container or wrapping for a product. Used for promotion and selling appeal

question

Function of packaging

answer

1. have to be suitable for product to put it 2. should be appealing to customers

question

Product life cycle

answer

1. Describes stages of product, which will pass through its introduction, growth, saturation, and decline

question

Stages of product life cycle

answer

1. devleoped 2. introduced limitedly (price skimming) 3. grow rapidly (advertising=persuasively) 4. maturity 5. saturation 6. decline

question

Introduction strategy

answer

1. price skimming 2. informative advertisement 3. limited range of exclusive shop

question

Growth strategy

answer

1. price = raised (if penetration used earlier 2. establish strong brand image through promotion 3. increase range of outlets

question

Maturity strategy

answer

1. lower price to remain competitive 2. sale promotion to promote repeated purchase 3. full range of distribution channel used

question

Decline strategy

answer

1. lower price 2. relaunch=-extension strategy 3. sell mainly though low cost distribution channel

question

Extending product life cycle

answer

1. introduce new variants 2. sell into new markets 3. make small change to design 4. new advertising campaign 5. introduce new improved version 6. sell through additional outlets

STUDY

Blue Ocean Strategy First Mover Advantage Industry

GRBU 511 Ch 10 E-Trade Quiz – Flashcards 5 terms

Patsy Brent

5 terms

Preview

GRBU 511 Ch 10 E-Trade Quiz – Flashcards

question

Which factors should we reduce well below industry standard?

answer

Kim and Mauborgne propose four crucial questions for marketers to ask themselves in guiding blue-ocean thinking and creating value innovation. Which of the following questions did E-Trade ask when it offered low cost stock trading?

question

Which factors should we create that the industry has never offered?

answer

Which of the following did E-Trade ask when it offered online trading?

question

Competitive and leveragable advantage

answer

Which advantage did E-Trade's Super Bowl commercial give the company?

question

It created point-of-parity

answer

E-Trade's first Super Bowl commercial was effective. It accomplished all of the following except for one. Which of the following is the exception that benefits associations that are not necessarily unique to the brand but might be shared with other brands?

question

It offered online and inexpensive trading.

answer

How did E-Trade differentiate itself from other stock traders?

STUDY

First Mover Advantage Five Forces Model Value Chain Analysis

MIS180 Midterm 1-SDSU 69 terms

Henry Lowe

69 terms

Preview

MIS180 Midterm 1-SDSU

question

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 recreate Greg's video drive-thru rental process. Greg's system is an example of a _________.

answer

First-mover advantage

question

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?

answer

Game systems like Wii, social networks like Facebook.

question

What provides an example of data?

answer

Who is customer number 12345XX?

question

answer

Operations manager

question

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?

answer

Coke and Pepsi submit bids to the owner of a football stadium for the exclusive sale of their products during games.

question

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?

answer

Sky Taxi-a rent by-the-hour personal plane service.

question

MIS can be an important enabler of business success and innovation. Which of the following statements is accurate when referring to MIS?

answer

MIS is a valuable tool that can leverage the talents of people who know how to use and manage it effectively.

question

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?

answer

Rivalry among existing competitors

question

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?

answer

Zevia Natural Diet Soda begins selling directly over the Internet

question

When evaluating the six-step decision making process, what occurs during the solution implementation step?

answer

The process will begin again if the decisions made were incorrect.

question

What is the primary goal of the As-Is process model?

answer

To simplify, eliminate, and improve the To-Be process.

question

FedEx is a great example of a company that created a competitive advantage through combining _______________.

answer

MIS and traditional distribution and logistics processes.

question

When evaluating the six-step decision making process, what occurs during the problem identification step?

answer

The problem is defined as clearly and precisely as possible.

question

An optimization analysis finds the optimum value for a target variable by repeatedly changing other variables, subject to specified constraints. What can a manager determine by changing revenue and cost variables in an optimization analysis?

answer

Calculate the highest potential profits.

question

Which of the following is not considered a part of decision making at the managerial level?

answer

Developing overall business goals and objectives.

question

Which of the following are the four common types of effectiveness MIS metrics?

answer

Usability, customer satisfaction, conversion rates, financial

question

Which of the following is a challenge facing an ebusiness?

answer

Increasing liabilities.

question

Internet marketers must develop ___________ to build strong relationships with customers to ensure loyalty.

answer

Consumer trust.

question

Which ebusiness tool increases the speed of business by allowing the transfer of documents with the same speed as the telephone?

answer

Email.

question

What do Netflix and Amazon use to drive their recommendation tools?

answer

User-generated content

question

Which of the following is not a topic or feature that is included in Web 3.0?

answer

Social networking

question

What is the primary way that social networks work?

answer

Connecting people by matching profile information.

question

Cell phone manufacturers often refer to their products as mobile devices. Which of the following would not be included in the folksonomy for a cell phone?

answer

Technology platform.

question

Which of the following is not an example of a social bookmarking website?

answer

Facebook.

question

Which of the following demonstrates potential issues with Business 2.0 and information vandalism?

answer

Open source allows anyone to be able to edit, damage, or destroy content.

question

M&M's offers people the opportunity to order the candy in special colors or with customized sayings. How would you classify M&M's ebusiness strategy?

answer

Mass customization.

question

What is an Internet monitoring technique that captures keystrokes on their journey from the keyboard to the motherboard?

answer

Hardware Key Logger.

question

Employees need to understand that email privacy exists to an extent and that corporate email is solely owned by _________.

answer

The company.

question

What type of Internet monitoring technique records information about a customer during a web surfing session, such as what websites were visited and how long the visit was, what ads were viewed, and what was purchased?

answer

Clickstream.

question

Which of the following are all common forms of viruses?

answer

Backdoor program, worm, Trojan-horse virus

question

Which of the following occurs when organizations use software that filters content, such as email, to prevent the accidental or malicious transmission of unauthorized information?

answer

Content filtering.

question

Which of the following is not included as a common stipulation an organization would follow when creating an employee monitoring policy?

answer

Do not state the consequences of violating the policy.

question

An MIS infrastructure is ___________ and ____________.

answer

Dynamic and continually changing.

question

Cheap electricity is great for keeping business energy costs down, but this mean that we have to rely more on ____________ for power.

answer

Coal.

question

What charts the cost to the company of the unavailability of information and technology and the cost to the company of recovering from a disaster over time?

answer

Disaster recovery cost curve.

question

A disaster recovery plan contains a _____________ that outlines the costs to support the plan.

answer

Disaster recovery cost curve.

question

What is a challenge for cloud computing that could cause employee performance to decrease?

answer

Required internet connectivity.

question

Which characteristics support an agile MIS infrastructure?

answer

Accessibility, availability, maintainability, portability, reliability, scalability, usability

question

Which characteristics support a sustainable MIS infrastructure?

answer

Grid computing, cloud computing and virtualization

question

What are core drivers of the information age?

answer

Data, information, business intelligence and knowledge.

question

Knowledge

answer

1. Justified true belief 2. Enables action 3. Intellectual assets such as patents and trademarks 4. Experience or info. that can be communicated or shared 5. The Mental Model we all form through experience, values and education

question

Chief Information Officer (CIO)

answer

oversees all uses of IT and ensures the strategic alignment of IT with business goals and objectives

question

Chief Knowledge Officer (CKO)

answer

responsible for collecting, maintaining, and distributing the organizations knowledge

question

Chief Privacy Officer (CPO)

answer

responsible for ensuring the ethical and legal use of information.

question

Chief Security Officer (CSO)

answer

responsible for ensuring the security of IT systems

question

Chief Technology Officer (CTO)

answer

responsible for ensuring the throughput, speed, accuracy,availability and reliability of IT

question

Porter's Five Forces Model

answer

Threat of substitute products, buyer power, threat of new entrants and supplier power all come about from rivalry amongst existing competitors

question

The 6-Step Decision Making Process

answer

1. Problem identification (not easy to do) 2. Data collection, collecting data on frequency 3. Solution generation 4. Solution test 5. Solution selection 6. Solution implementation

question

Operational Decision Making

answer

employees develop, control and maintain core business activities required to run the day-to-day operations

question

Structured Decisions

answer

Situations where established processes offer potential solutions

question

Managerial Decision Making

answer

Employees evaluate company operations to identify, adapt to and leverage change

question

Semistructured Decisions

answer

Occur in situations in which a few established processes help to evaluate potential solutions, but not enough to lead to definite recommended decision

question

Strategic Decision Making

answer

Managers develop overall strategies, goals and objectives

question

Unstructured Decisions

answer

Occurs in situations in which no procedures or rules exist to guide decision makers toward the correct choice

question

Critical Success Factors (CSFs)

answer

create high-quality products retain competitive advantages reduce product costs increase customer satisfaction hire and retain the best professionals

question

Key Performance Indicators (KPIs)

answer

Turnover rates of employees Number of product returns Number of new customers Average customer spending

question

Online Analytical Processing (OLAP)

answer

Manipulation of data-information to create business intelligence in support of strategic decision making

question

Four Quantitative Models Used by DSS include:

answer

1. What-If analysis 2. Sensitivity analysis 3. Goal-seeking analysis 4. Optimization analysis

question

Five most common categories of artificial intelligence are:

answer

1. Expert System-computerized advisory programs that imitate the reasoning processes of experts in solving difficult problems 2. Neural Network (ANN)- attempts to emulate the way the human brain works (fuzzy logic) 3. Genetic Algorith-artificial intelligent system that mimics the evolutionary, survival of the fittest process to generate increasingly better solutions to a problem (shopping bot) 4. Intelligent agent-special purpose knowledge-based information system that accomplishes specific tasks on behalf of its users 5. Virtual Reality-computer-simulated environment that can be a simulation of the real/imaginary world

question

Streamlining

answer

Improves business process efficiencies by simplifying or eliminating unnecessary steps

question

Bottleneck

answer

Occur when resources reach full capacity and cannot handle any additional demands

question

EBusiness Advantages

answer

Expanding global reach Opening new markets Reducing costs Improving operations Improving effectiveness

question

Mass Customization

answer

The ability of an organization to tailor its products/services to the customer's specifications (M&Ms)

question

Personalization

answer

Occurs when a company knows enough about a customers likes and dislikes that it can fashion offers more likely to appeal to that person

question

Clickstream data can reveal:

answer

Number of page views Pattern of websites visited Length of stay on website Data and time visited Number of customers with shopping carts Number of abandoned shopping carts

question

EBusiness Revenue Models

answer

Advertising fees (google) License fees (media downloads) Subscription fees (consumer reports) Transaction fees (credit card processing) Value-added service fees (Telecomm)

question

Explicit Knowledge

answer

Consists of anything that can be documented, archived, and codified, often with the help of IT

question

Tacit Knowledge

answer

Knowledge contained in peoples heads

question

Crowdsourcing

answer

The wisdom of the crowd -Asynchronous communication -Synchronous communication

STUDY

AP Government AP United States Government And Politics First Mover Advantage Politics of the United States

Blinn College – Texas Government 2306 – Denman 49 terms

Clarence Louder

49 terms

Preview

Blinn College – Texas Government 2306 – Denman

question

What is a recess appointment?

answer

question

What is Senatorial courtesy?

answer

question

What is the revolving door?

answer

question

What is the Iron Triangle?

answer

question

What are the formal powers of the Governor?

answer

question

What are the requirements of Governor?

answer

- 30 yrs. old - U.S. Citizen - live in Texas for 5 yrs.

question

What are the compensations for being Governor?

answer

- mansion - staff - limo - jet - $150,000 salary

question

What Executive Branch official is considered the most powerful office in the state?

answer

question

What are the duties of the Lieutenant Governor?

answer

question

What are the duties of the Attorney General?

answer

question

What are the duties of the Commissioner of the General Land Office?

answer

question

What are the duties of the Comptroller of Public Accounts?

answer

question

What are the duties of the Commissioner of Agriculture?

answer

question

What are the duties of the Secretary of State?

answer

question

What are the duties of the Railroad Commission?

answer

question

What are the duties of the State Board of Education?

answer

question

What is administrative review?

answer

question

What is patronage?

answer

question

What is merit based hiring?

answer

question

What is the role of the Sunset Advisory Committee?

answer

question

How does Texas select its justices?

answer

question

What is the Court of Criminal Appeals?

answer

question

What is the Texas Supreme Court?

answer

question

How many Courts of Appeals are in Texas?

answer

question

What types of cases can be heard in Texas District courts?

answer

question

What are the three types of county-level courts?

answer

question

What are the limitations on Justice of the Peace courts?

answer

question

What do grand juries decide upon?

answer

question

What types of decisions does a grand jury return?

answer

question

What is the standard for deciding civil cases in Texas?

answer

question

What is the standard for deciding criminal cases in Texas?

answer

question

How many members serve on a petit jury?

answer

question

What is an appeal de novo?

answer

question

What is the process of screening potential juror called?

answer

question

What types of challenges are given to lawyers during jury selection?

answer

question

What are the types of criminal cases?

answer

question

What art the form of punishment in felony cases?

answer

question

What are the forms of punishment in misdemeanor cases?

answer

question

What are the non-incarceration forms of punishment in criminal cases?

answer

question

What is the difference between juvenile and adult verdicts?

answer

question

What court case restructured the Texas prison system?

answer

question

What Supreme Court case suspended the death penalty?

answer

question

What forms of capital punishment have been used in Texas?

answer

question

What are the clemency options for the Board of Pardons and Paroles?

answer

question

What Supreme Court case limited interrogation powers of police?

answer

question

What is civil law?

answer

question

What are the types of laws dealt with in civil cases?

answer

question

What types of damages are dealt with in civil cases?

answer

question

What are efforts to change civil awards reared to as?

answer

STUDY

Doctor Patient Relationship First Mover Advantage Five Forces Model

290 midterm – Flashcards 27 terms

Isabella Parker

27 terms

Preview

290 midterm – Flashcards

question

Companies today are successful when they combine the power of the information age with traditional business methods.

answer

true

question

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.

answer

false

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The information age is the present time, during which infinite quantities of facts are widely available to anyone who can use a computer.

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true

question

Technology provides countless business opportunities, but can also lead to pitfalls and traps for a business

answer

true

question

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

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false

question

A variable is a business intelligence characteristic that stands for a value that cannot change over tim

answer

falsr

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A fact is the confirmation or validation of an event or object. In the past, people primarily learned facts from books

answer

true

question

Zappos is not a technology company; its primary business focus is to sell books.

answer

false

question

Order date, amount sold, and customer number are all forms of data.

answer

true

question

Choosing not to fire a sales representative who is underperforming knowing that person is experiencing family problems is a form of knowledge

answer

true

question

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

answer

true

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Knowledge workers are individuals valued for their ability to manage teams and implement critical human resource rules and regulations.

answer

false

question

Using data and information to make decisions and solve problems is the key to finding success in business. These are also the core drivers of the information age and the building blocks of business systems

answer

false

question

Companies update business strategies continuously as internal and external environments change

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true

question

The finance department performs the function of selling goods or services.

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false

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The marketing department supports sales by planning, pricing, and promoting goods or services

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true

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The operations management department manages the process of converting or transforming resources into goods or services.

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true

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true

answer

The accounting and finance departments primarily use monetary data

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The sales and marketing departments primarily use production data.

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false

question

For an organization to succeed, every department or functional area must work independently to be most effective

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false

question

Successful companies today operate cross-functionally, integrating the operations of all departments.

answer

true

question

An overview of systems thinking includes input, process, output, and finances

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false

question

MIS is a tool that is most valuable when it leverages the talents of people who know how to use and manage it effectively.

answer

true

question

The chief technology officer is responsible for ensuring the security of business systems and developing strategies and safeguards against attacks from hackers and viruses

answer

false

question

The chief security officer is responsible for ensuring the security of business systems and developing strategies and safeguards against attacks from hackers and viruses

answer

true

question

The chief technology officer is responsible for ensuring the speed, accuracy, availability, and reliability for MIS.

answer

true

question

The chief privacy officer is responsible for ensuring the ethical and legal use of information within a company

answer

trur

STUDY

Educational Technology First Mover Advantage Human Resources Management Increasing The Value Information Technology Structured And Unstructured Value Chain Analysis

Chapter 1 IS 201 – Flashcards 20 terms

Anna Collins

20 terms

Preview

Chapter 1 IS 201 – Flashcards

question

1. What is a standardized set of activities that accomplishes a specific task, such as processing a customer's order? Transaction Business process Expense Marketing

answer

Business Process

question

2. What is calculated by dividing the firm's sales by the total market sales for the entire industry? Break-even point IRR Market share Income statement

answer

Market Share

question

3. Which of the following statements is true? IT equals business innovation IT enables business success and innovation IT represents business success and innovation IT equals business success

answer

It enables business success and innovation

question

What analyzes the transactional information of the business so the owners and investors can make sound economic decisions? Bookkeeping Financial Accounting Managerial Accounting Accounting

answer

Accounting

question

5. What is information technology? The function that plans for, develops, implements, and maintains IT hardware, software, and the portfolio of applications that people use to support the goals of an organization The function of selling a good or service that focuses on increasing customer sales, which increases company revenues A discipline that includes the methods, tasks, and techniques organizations use to produce goods and services A field concerned with the use of technology in managing and processing information

answer

A field concerned with the use of technology in managing and processing information

question

6. Which of the following is not accomplished by human resources management? Employee training Employee recruitment Employee appraisals Employee vacation scheduling

answer

Employee vacation scheduling

question

7. What did Thomas Friedman believe happened to the world because of the unplanned cascade of technological and social shifts? The world became flat The world became bigger The world became more sophisticated The world became larger

answer

The world became flat

question

8. Which of the following is NOT one of Thomas Friedman's ten forces that flattened the world (Friedman 2005)? Fall of the Berlin wall Netscape IPO Wireless Microsoft IPO

answer

Microsoft IPO

question

9. Almost all organizations today have an internal IT department, often called Information Technology (IT), Information Systems (IS), or Management Information Systems (MIS). True False

answer

True

question

10. What can IT enable an organization to accomplish? Improve productivity Reduce costs Generate growth All of these

answer

All of these

question

11. Which of the following is not one of the four phases in the product life cycle? Introduction Decline Place Growth

answer

Place

question

12. What is the division of a market into similar groups of customers? Market mix Market communications Market segmentation Market management

answer

Market segmentation

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13. Which of the following is not a part of the marketing mix? Price Product Point Promotion

answer

Point

question

Which of the following represents the order of priority for the three primary organizational key resources? Information, information technology, people Information technology, people, information Information, people, information technology People, information, information technology

answer

People, information, information technolog

question

15. What is data that has been converted into meaningful and useful context? All of these Information Information technology Information systems

answer

Information

question

16. Why do students need to study information technology? Information technology is found in only a few businesses. Information technology is rarely discussed in business magazines. Information technology is everywhere in business. Information technology is rarely used in organizations.

answer

Information technology is everywhere in business.

question

17. What is the function of the marketing department? To promote the sale of goods or services and support the sales department by creating promotions that help sell the company's products To deal with the strategic financial issues associated with increasing the value of the business while observing applicable laws and social responsibilities To implement the policies, plans, and procedures for the effective management of employees To sell a good or service and focus on increasing customer sales, which increases company revenues

answer

To promote the sale of goods or services and support the sales department by creating promotions that help sell the company's products

question

18. What are raw facts that describe the characteristics of an event? Information technology Data Information All of these

answer

Data

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19. Which of the following represents the relationship between functional areas in a business? Interdependent Independent Autonomous Self-sufficient

answer

Interdependent

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20. What is the function of the sales department? To deal with the strategic financial issues associated with increasing the value of the business while observing applicable laws and social responsibilities To implement the policies, plans, and procedures for the effective management of employees To sell a good or service and focus on increasing customer sales, which increases company revenues To promote the sale of goods or services and support the sales department by creating promotions that help sell the company's products

answer

To sell a good or service and focus on increasing customer sales, which increases company revenues

STUDY

First Mover Advantage First Mover Advantages International Economics National Competitive Advantage

Chapter 5 International Business-not mine 57 terms – Flashcards 57 terms

Jaxon Wilson

57 terms

Preview

Chapter 5 International Business-not mine 57 terms – Flashcards

question

Which of the following refers to the purchase, sale, or exchange of goods and services across national borders? A) Domestic trade B) Foreign direct investment C) International trade D) Mercantilism

answer

Answer: C

question

________ occurs between different states, regions, or cities within a country. A) Domestic trade B) Foreign direct investment C) International trade D) Mercantilism

answer

Answer: A

question

One way to measure the importance of trade to a nation is to examine ________. A) its human development index relative to its CPI B) the availability of natural resources and ease of extracting them C) its comparative advantage relative to those of its neighbors D) the volume of an economy's trade relative to its total output

answer

Answer: D

question

Which of the following statements is NOT true about the services trade today? A) Trade in services makes up about 20 percent of total world trade. B) Trade in services tends to be more important for emerging markets. C) The United States is a top exporter of services in the world. D) Trade in services is growing for many nations.

answer

Answer: B

question

The U.S. Department of Commerce estimates that for every $1 billion increase in exports, ________ jobs are created in the United States. A) 22,800 B) 35,000 C) 42,500 D) 63,000

answer

Answer: A

question

Most of the world merchandise trade is comprised of trade in ________. A) natural resources B) services C) manufactured goods D) knowledge-based goods

answer

Answer: C

question

When a country has a weak currency relative to other nations, imports are ________ relative to domestic products. A) more expensive B) equal in price C) more attractive D) less expensive

answer

Answer: A

question

The majority of total world merchandise trade occurs among ________. A) high-income countries and low- and middle-income nations B) high-income economies C) low- and middle-income nations D) emerging markets

answer

Answer: B

question

Trade among the world's high-income economies accounts for roughly ________ percent of total world merchandise trade. A) 20 B) 40 C) 60 D) 80

answer

Answer: C

question

Merchandise trade between low- and middle-income nations accounts for about ________ percent of total world trade. A) 6 B) 23 C) 42 D) 61

answer

Answer: A

question

The smallest portion of total world trade takes place between ________. A) high-income countries and low- and middle-income nations B) high-income economies C) low- and middle-income nations D) emerging markets

answer

Answer: C

question

Which of the following countries is the most important trading partner of the Central and Eastern European nations that recently joined the European Union? A) Germany B) Hungary C) Japan D) United States

answer

Answer: A

question

When doing business in the Pacific Rim, ________. A) carry business cards printed only in the home country language B) be persistent and aggressive, because Asians often take a while before they agree to a meeting C) don't accept invitations to dine at someone's house; go for a neutral location D) tone down the use of legal language

answer

Answer: D

question

Companies are leaving Mexico for Asia and Europe because of differences in all of the following EXCEPT ________. A) education B) climate C) red tape D) taxes

answer

Answer: B

question

According to ________, measures of a nation's well-being are irrelevant. A) mercantilism B) absolute advantage theory C) factor proportions theory D) new trade theory

answer

Answer: A

question

The most prominent mercantilist nations included all of the following EXCEPT ________. A) the Netherlands B) Spain C) the United States D) Portugal

answer

Answer: C

question

The trade theory that nations should accumulate financial wealth, usually in the form of gold, by encouraging exports and discouraging imports is called ________. A) absolute advantage B) mercantilism C) comparative advantage D) factor proportions theory

answer

Answer: B

question

The practice of mercantilism rested upon each of the following EXCEPT ________. A) enhanced trade deficits B) government intervention C) colonialism D) trade surpluses

answer

Answer: A

question

The condition that results when the value of a nation's exports is greater than the value of its imports is called ________. A) a trade deficit B) mercantilism C) a trade surplus D) absolute advantage

answer

Answer: C

question

The condition that results when the value of a country's imports is greater than the value of its exports is called ________. A) a trade deficit B) mercantilism C) a trade surplus D) absolute advantage

answer

Answer: A

question

According to mercantilism, accumulation of national wealth depended on ________. A) increasing a nation's trade surplus B) expanding a nation's total value of trade C) expanding a nation's total volume of trade D) increasing a nation's trade deficit

answer

Answer: A

question

Colonies were important to mercantilist nations for all the following reasons EXCEPT ________. A) to serve as sources of inexpensive raw materials B) to serve as markets for higher-priced finished goods C) to serve as a source of profits for mercantilist powers D) to serve as a source of military protection

answer

Answer: D

question

Nations following the theory of ________ believed that the world's wealth was limited and that a nation could increase its share of the pie only at the expense of its neighbors. A) absolute advantage B) comparative advantage C) mercantilism D) factor proportions

answer

Answer: C

question

Which of the following refers to the ability of a nation to produce a good more efficiently than any other nation? A) Mercantilism B) Comparative advantage C) Absolute advantage D) Zero-sum game

answer

Answer: C

question

Who proposed the theory of absolute advantage? A) David Ricardo B) Adam Smith C) Bertil Ohlin D) Raymond Vernon

answer

Answer: B

question

Adam Smith believed which of the following? A) International trade should be restricted by tariffs and quotas. B) Governments should intervene to maintain a balance of exports and imports. C) Market forces should determine trade flows. D) Countries should produce most goods themselves and trade as little as possible.

answer

Answer: C

question

The theory of absolute advantage measures a nation's wealth by determining the ________. A) gold it has on reserve B) silver it has on reserve C) cash it has on reserve D) living standards of its people

answer

Answer: D

question

The theory of absolute advantage destroys the mercantilist idea that international trade is a ________. A) positive-sum game B) zero-sum game C) negative-sum game D) no-win game

answer

Answer: B

question

The theory of ________ measures a nation's wealth by the living standards of its people. A) mercantilism B) factor proportions C) absolute advantage D) advanced factors

answer

Answer: C

question

When there are gains to be had by both countries that are party to an exchange, international trade is considered a(n) ________. A) positive-sum game B) zero-sum game C) negative-sum game D) equal-sum game

answer

Answer: A

question

When a country is not able to produce a good more efficiently than other nations, but produces the good more efficiently than it does any other good, it is said to have a(n) ________. A) absolute advantage B) resource advantage C) first-mover advantage D) comparative advantage

answer

Answer: D

question

Which of the following developed the theory of comparative advantage? A) David Ricardo B) Adam Smith C) Bertil Ohlin D) Raymond Vernon

answer

Answer: A

question

To complete his business bookkeeping each month, a small business owner spends about 20 hours and gives up $2,000 in income. If he hired a bookkeeper to do the work, the job would be completed in 15 hours and would cost $600. Should the owner hire the bookkeeper or continue to do the work himself? A) He should hire the bookkeeper because the bookkeeper has an absolute advantage in completing the books. B) He should do the bookkeeping himself because he has an absolute advantage in completing the books. C) He should hire the bookkeeper only if the bookkeeper agrees to give him a discount on the service price. D) He should hire the bookkeeper only if the bookkeeper is willing to complete the books more quickly.

answer

Answer: A

question

Country A produces one ton of coffee using one unit of resources. Country B produces two tons of coffee using one unit of resources. Which of the following is true regarding Country A and Country B? A) Country A has an absolute advantage in producing coffee. B) Neither Country A nor Country B has an absolute advantage in producing coffee. C) Country B has an absolute advantage in producing coffee. D) Both Country A and Country B have an absolute advantage in producing coffee.

answer

Answer: C

question

According to the theory of ________, trade is still beneficial even if one country is less efficient in the production of two goods, as long as it is less inefficient in the production of one of the goods. A) absolute advantage B) mercantilism C) comparative advantage D) factor proportions

answer

Answer: C

question

Which of the following is NOT a limitation of the absolute and comparative advantage theories? A) The theories assume that there are only two countries engaged in the production and consumption of just two goods. B) The theories assume that there are no costs for transporting traded goods from one country to another. C) The theories consider labor the only resource used in the production process. D) The theories assume that specialization in the production of one particular good results in gains in efficiency.

answer

Answer: D

question

Comparative advantage theory focuses on which of the following? A) Maximization of production and consumption B) Logistics planning C) Resource assessment D) Creation of trade surpluses

answer

Answer: A

question

Both absolute and comparative advantage theories assume that ________ is the only resource used in the production process. A) land B) labor C) capital D) information

answer

Answer: B

question

The ________ theory states that countries produce and export goods that require resources that are abundant and import goods that require resources in short supply. A) new trade B) absolute advantage C) international product life cycle D) factor proportions

answer

Answer: D

question

The focus of factor proportions theory is on the ________. A) productivity of the production process B) cost-effectiveness of the production process C) use of abundant production factors D) use of expensive production factors

answer

Answer: A

question

Factor proportions theory was developed by ________. A) Smith and Ricardo B) Ricardo and Ohlin C) Hecksher and Ohlin D) Hecksher and Smith

answer

Answer: C

question

Under factor proportions theory, a nation's resources include all of the following EXCEPT ________. A) labor B) land C) information D) capital equipment

answer

Answer: C

question

Factor proportions theory argues that a country should produce and export goods ________. A) that require factors of production that are most abundant B) where it is most productive to do so C) where it is most efficient to do so D) that require factors of production that are most advanced

answer

Answer: A

question

Country X is a small country with a large population. Most of its land is devoted to housing and commercial developments; agricultural land is in short supply. According to the factor proportions theory, which of the following would Country X most likely import? A) Software B) Crops such as wheat and corn C) Fiber optic cables D) Consulting services

answer

Answer: B

question

The Leontief paradox describes evidence ________. A) that U.S. exports require more labor-intensive production than its imports B) in support of factor proportions theory C) that U.S. exports require more capital-intensive production than its imports D) that the assumptions of new trade theory are invalid

answer

Answer: A

question

The international product life cycle theory was developed by ________. A) Milton Friedman B) Karl Marx C) Michael Porter D) Raymond Vernon

answer

Answer: D

question

The international product life cycle theory was put forth for which type of goods? A) Service goods B) Knowledge-based goods C) Manufactured goods D) Natural resources

answer

Answer: C

question

During which stage of the international product life cycle theory does high purchasing power and buyer demand in an industrialized nation encourage a company to design and introduce a product concept? A) Idiosyncratic stage B) New product stage C) Maturing product stage D) Standardized product stage

answer

Answer: B

question

During which stage of the international product life cycle theory does demand rise and remain sustained over a fairly lengthy period of time? A) Idiosyncratic stage B) New product stage C) Maturing product stage D) Standardized product stage

answer

Answer: C

question

During which stage of the product life cycle are companies looking for low-cost production bases in developing nations to supply a growing worldwide market? A) Idiosyncratic stage B) New product stage C) Maturing product stage D) Standardized product stage

answer

Answer: D

question

A product's components are made in a country that can produce them at a high level of productivity and assembled in another country where productivity in assembly is high. This process resembles the theory of ________. A) comparative advantage B) advantage savings C) the international product life cycle D) factor proportions

answer

Answer: A

question

Much production in the world today closely resembles what is predicted by the ________. A) new trade theory B) international product life cycle C) theory of comparative advantage D) theory of factor proportions

answer

Answer: C

question

Which of the following is NOT an argument offered by the new trade theory? A) Gains can arise from diversification and managed growth. B) Gains can arise from specialization and increasing economies of scale. C) Companies first to enter a market can create barriers to entry. D) Government may play a role in assisting its home companies.

answer

Answer: A

question

New trade theory is in line with the theory of ________ but at odds with ________ theory. A) international product life cycle; comparative advantage B) comparative advantage; factor proportions C) national competitive advantage; international product life cycle D) factor proportions; absolute advantage

answer

Answer: B

question

National competitive advantage theory states that a nation's competitiveness in an industry depends on ________. A) the capacity of the industry to innovate and upgrade B) the level of government subsidy available C) obtaining first-mover status D) practicing neomercantilism

answer

Answer: A

question

The Porter diamond consists of all the following EXCEPT ________. A) factor conditions B) demand conditions C) supply conditions D) firm strategy, structure, and rivalry

answer

Answer: C

question

Which element of national competitive advantage theory divides resources into two groups: basic and advanced? A) Demand conditions B) Factor conditions C) Related and supporting industries D) Firm, strategy, structure, and rivalry

answer

Answer: B

STUDY

First Mover Advantage Value Chain Model

EXAM TEST – Flashcards 184 terms

Alice Rees

184 terms

Preview

EXAM TEST – Flashcards

question

Buyer power, supplier power, threat of substitute products or services, threat of new entrants, and rivalry among existing competitors are all included in Porter's Five Forces Model

answer

--->True False

question

If supplier power is high, how can the supplier directly influence the industry

answer

Charging higher prices Limiting quality or services Shifting costs to industry participants --->All of the above

question

Product differentiation occurs when a company develops completely different products than its competition is offering

answer

True --->False

question

Supply chain management involves the management of information flows between and among stages in a supply chain to maximize total supply chain effectiveness and profitability

answer

--->True False

question

Enterprise resource planning systems integrate all departments and functions throughout an organization into a single IT system

answer

--->True False

question

Which of the following is an organizational result from an effective and efficient supply chain management system

answer

Decrease the power of its buyers Create entry barriers thereby reducing the threat of new entrants Increase efficiencies while seeking a competitive advantage through cost leadership --->All of the above

question

All of the following are part of the four basic components of supply chain management, except

answer

Supply chain logistics Supply chain partners --->Supply chain customers Supply chain strategy

question

Which of the following is not a valid way a CRM system can collect information

answer

--->Customer's personal computer Accounting system Inventory system Order fulfillment system

question

Supply chain management is a standardized set of activities that accomplish a specific task

answer

True --->False

question

Which of the following defines supply chain strategy

answer

The product delivery processes and elements including orders, warehouses, carriers, defective product returns, and invoicing The partners chosen to deliver finished products, raw materials, and services including pricing, delivery, and payment processes along with partner relationship monitoring metrics --->The strategy for managing all the resources required to meet customer demand for all products and services The schedule for production activities including testing, packaging, and preparation for delivery

question

Which of the following defines supply chain operation

answer

The strategy for managing all the resources required to meet customer demand for all products and services The partners chosen to deliver finished products, raw materials, and services including pricing, delivery, and payment processes along with partner relationship monitoring metrics The product delivery processes and elements including orders, warehouses, carriers, defective product returns, and invoicing --->The schedule for production activities including testing, packaging, and preparation for delivery

question

What is a general name for the business function and academic discipline covering the application of people, technologies, and procedures—collectively called information systems—to solve business problems

answer

Technology's impact on business Information Technology --->Management Information Systems Technology's role in business

question

What did Thomas Friedman believe happened to the world because of the unplanned cascade of technological and social shifts

answer

--->The world became flat The world became more sophisticated The world became bigger The world became larger

question

Which of the following is not one of Thomas Friedman's forces that flattened the world

answer

Wireless Netscape IPO --->Microsoft IPO Fall of the Berlin wall

question

Functional areas of a business are independent and do not need to reply on each other for information

answer

True --->False

question

What is data that has been converted into meaningful and useful context

answer

Business intelligence Information technology Information systems --->Information

question

Almost all organizations today have an internal IT department, often called Information Technology (IT), Information Systems (IS), or Management Information Systems (MIS)

answer

--->True False

question

The customer service function has received the greatest benefit from information technology

answer

--->True False

question

Information is data converted into a meaningful and useful context

answer

--->True False

question

Which of the following represents the order of priority for the three primary organizational key resources

answer

Information technology, people, information --->People, information, information technology Information, people, information technology Information, information technology, people

question

According to Peter Drucker, what are managers who do the right things addressing

answer

Both efficiency and effectiveness --->Effectiveness Customer Metrics Efficiency

question

Canada is ranked first in terms of egovernment efficiency IT metrics

answer

True --->False

question

What types of security must an organization offer its customers when it provides them with the ability to purchase products over the Internet

answer

--->Encryption and SSL SSL and HTTP Encryption and HTTP All of the above

question

What is a management system, in addition to a measurement system, that enables organizations to clarify their vision and strategy and translate them into action

answer

--->The balanced scorecard The balanced cycle time Porter's Three Generic Strategies Porter's Five Forces

question

Break-even analysis determines the number of years to recoup the cost of an initiative based on the projected annual net cash flow

answer

True --->False

question

Which country ranked first in terms of egovernment efficiency

answer

Canada --->United States Denmark Australia

question

Which of the following is not a typical CRM metric

answer

Marketing metrics Sales metrics Service metrics --->Inventory metrics

question

Efficiency focuses on the extent to which an organization is using its resources in an optimal way

answer

--->True False

question

The most important skills for an IT excutive are technical knowledge and proficiency

answer

True --->False

question

The chief technology officer is responsible for ensuring the throughput, speed, accuracy, availability, and reliability of an organization's information technology

answer

--->True False

question

Which issue concerns CIOs the most

answer

Building new applications Outsourcing hosting Technology evaluation --->Enhancing customer satisfaction

question

Broad functions of a CIO include all of the following, except

answer

--->Building and maintaining strong customer processes Ensuring the delivery of all IT projects, on time and within budget Building and maintaining strong executive relationships Ensuring that the strategic vision of IT is in line with the strategic vision of the organization

question

What are the principles and standards that guide our behavior toward other people

answer

--->Ethics Copyright Pirated software Intellectual property

question

What is a broad term encompassing the protection of information from accidental or intentional misuse by persons inside or outside an organization

answer

question

The chief security officer is responsible for ensuring the ethical and legal use of information within an organization

answer

True --->False

question

Who is responsible for ensuring the security of IT systems and developing strategies and IT safeguards against attacks from hackers and viruses

answer

CPO CTO --->CSO CIO

question

Human resources management includes the policies, plans, and procedures for the effective management of employees ('human resources')

answer

--->True False

question

What tracks and communicates changes in the shareholder's earnings

answer

Balance sheet --->Statement of owner's equity Income statement Statement of cash flows

question

For profit corporations primarily focus on making money and all profits and losses are shared by the business owners

answer

--->True False

question

What is a hybrid entity that has the legal protections of a corporation and the ability to be taxed (one time) as a partnership

answer

--->Limited liability corporation Limited partnership Limited shareholder Limited proprietorship

question

What is an asset

answer

--->Anything owned that has value or earning power Refers to the costs incurred in operating and maintaining a business Refers to the amount earned resulting from the delivery or manufacture of a product or from the rendering of a service A distribution of earnings to shareholders

question

What involves analyzing business operations for internal decision making and does not have to follow any rules issued by standard-setting bodies such as GAAP

answer

Financial accounting Accounting Bookkeeping --->Managerial accounting

question

A profit occurs when businesses sell products or services for less then they cost to produce

answer

True --->False

question

Partnership agreements typically include all of the following, except

answer

Methods for conflict resolution Expectations for sharing profits and losses Partner's salary requirements --->Shareholder's expectations for a successful business

question

What encompasses all of the information contained within a single business process or unit of work, and its primary purpose is to support the performing of daily operational tasks

answer

Analytical information Timeliness Quality --->Transactional information

question

What are the different types of information

answer

Levels, forms, granularities Data, formats, granularities --->Levels, formats, granularities Levels, forms, data

question

Reports for each sales person, product, and part are examples of detail or fine information granularities

answer

--->True False

question

Which of the following represents the different information formats

answer

Individual, department, enterprise Detail, summary, aggregate --->Document, presentation, spreadsheet, database None of the above

question

The completeness characteristic of high-quality information ensures that there are no missing data values

answer

--->True False

question

Which of the following represents the different information granularities

answer

--->Detail, summary, aggregate Document, presentation, spreadsheet, database Individual, department, enterprise None of the above

question

Which of the following represents the different information levels

answer

Detail, summary, aggregate Document, presentation, spreadsheet, database --->Individual, department, enterprise None of the above

question

What encompasses all organizational information and its primary purpose is to support the performing of managerial analysis tasks

answer

Quality Transactional information Timeliness --->Analytical information

question

Timely information must be up-to-the-second to be accurate

answer

True --->False

question

What is one of the biggest pitfalls associated with real-time information

answer

It is only available to high-level executives due to the expense: It rarely changes --->It continually changes: It is only available in aggregate levels of granularity:

question

Which of the following is a characteristic of information

answer

Type (Transactional & Analytical) Timeliness Quality --->All of the above

question

The uniqueness characteristic of high-quality information ensures that all the values are correct

answer

True --->False

question

What is a technique used to divide an information set into mutually exclusive groups such that the members of each group are as close together as possible to one another and the different groups are as far apart as possible

answer

--->Cluster analysis Association detection Intelligent agent Market basket analysis

question

Which type of BI achieves long-term organizational goals

answer

Operational BI Tactical BI --->Strategic BI All of the above

question

What types of BI decisions include forecasting levels of bad loans and fraudulent credit card use, credit card spending by new customers, and which kinds of customers will best respond to new loan offers

answer

Retail and sales BI decisions --->Banking BI decisions Operations management BI decisions Insurance BI decisions

question

The three forms of BI include operational, tactical, and value-added

answer

True --->False

question

Improving the quality of business decisions has a direct impact on costs and revenue

answer

--->True False

question

Which form of BI uses the time frame of days to weeks to months

answer

Operational BI --->Tactical BI Strategic BI All of the above

question

What are forecasts

answer

--->Predictions made on the basis of time-series information Time-stamped information collected at a particular frequency Reveals the degree to which variables are related All of the above

question

Which type of BI benefits are the results of discoveries made by creative users

answer

--->Unpredictable benefits Indirectly quantifiable benefits Quantifiable benefits Intangible benefits

question

Data is a strategic asset for a business and if the asset is not used the business is wasting resources

answer

--->True False

question

What is time-series information

answer

Analyzes checkout scanner information --->Time-stamped information collected at a particular frequency Reveals the degree to which variables are related All of the above

question

Quantifiable benefits, indirectly quantifiable benefits, unpredictable benefits, and intangible benefits are the four primary categories of BI benefits

answer

--->True False

question

What is the primary problem most organizations face today concerning information

answer

Data poor, information rich --->Data rich, information poor Business intelligence poor, information rich Business intelligence rich, information rich

question

Which form of BI has managers and analysts as its primary users

answer

--->Operational BI Tactical BI Strategic BI All of the above

question

Ideally, an organization only wants to build forward integrations

answer

True --->False

question

In the relational database model, what are characteristics or properties of an entity

answer

Entity Logical view Physical view --->Attribute

question

What is an interactive website kept constantly updated and relevant to the needs of its customers through the use of a database

answer

Customer-driven website Data-driven database --->Data-driven website Customer-driven database

question

Relational integrity constraints are rules that enforce basic and fundamental information-based constraints

answer

--->True False

question

In the relational database model, what is a person, place, thing, transaction, or event about which information is stored

answer

Logical view --->Entity Physical view Attribute

question

Why do relational databases use primary keys and foreign keys

answer

--->To create logical relationships To create a database To create physical relationships All of the above

question

What is a foreign key

answer

--->A primary key of one table that appears as an attribute in another table and acts to provide a logical relationship among the two tables A field (or group of fields) that uniquely identifies a given entity in a table A field (or group of fields) that uniquely identifies a given attribute in a table Characteristics or properties of an entity

question

What are the rules that help ensure the quality of information

answer

--->Integrity constraints Relational integrity constraints Business-critical integrity constraints Information integrity

question

A data-driven website is an interactive website kept constantly updated and relevant to the needs of its customers through the use of a database

answer

--->True False

question

What is a primary key

answer

A primary key of one table that appears as an attribute in another table and acts to provide a logical relationship among the two tables Characteristics or properties of an entity A field (or group of fields) that uniquely identifies a given attribute in a table --->A field (or group of fields) that uniquely identifies a given entity in a table

question

All of the following are advantages of database-stored information, except

answer

Increased flexibility Increased performance Increased information integrity --->Increased information redundancy

question

A central repository does not allow information to be integrated across multiple systems

answer

True --->False

question

The primary purpose of a data warehouse is to perform transactional processes

answer

True --->False

question

What is a dimension

answer

A particular single repository: A particular entity of information: A particular relational database: --->A particular attribute of information:

question

Achieving perfect information is almost impossible

answer

The more complete and accurate an organization wants its information to be, the more it costs:Which two variables are used to determine the trade-off for perfect information: Accuracy versus complexity --->Accuracy versus completeness Accessibility versus completeness Accessibility versus complexity

question

Business intelligence (BI) refers to applications and technologies that are used to gather, provide access to, and analyze data and information to support decision-making efforts

answer

--->True False

question

With careful planning, % complete and accurate information is possible

answer

True --->False

question

What is the primary purpose of a data warehouse

answer

To aggregate information throughout an organization into multiple repositories in such a way that employees can make decisions and undertake business analysis activities: To disaggregate information throughout an organization into multiple repositories in such a way that employees can make decisions and undertake business analysis activities: --->To aggregate information throughout an organization into a single repository in such a way that employees can make decisions and undertake business analysis activities: To disaggregate information throughout an organization into a single repository in such a way that employees can make decisions and undertake business analysis activities:

question

A relational database contains information in a series of two-dimensional tables

answer

How is data contained in a data warehouse and data mart: Information is multidimensional, meaning it contains a single layer data in a table format: Information is two-dimensional, meaning it contains a single layer data in a table format: --->Information is multidimensional, meaning it contains layers of columns and rows: Information is two-dimensional, meaning it contains layers of columns and rows:

question

When does information cleansing occur in the data warehouse

answer

During the ETL process --->During the ETL process and once it is in the data warehouse On the information, once it is in the data warehouse During the ETL process and before it is in the data warehouse

question

Information cleansing or scrubbing is the process that weeds out and fixes or discards inconsistent, incorrect, or incomplete information

answer

--->True False

question

Which of the following statements is true

answer

--->The more complete and accurate an organization wants to get its information, the more it costs The less accurate an organization wants to get its information, the more it costs The more accurate an organization wants to get its information, the less it costs The more complete an organization wants to get its information, the less it costs

question

A dimension is a particular attribute of information

answer

Each layer in a data warehouse or data mart represents information according to an additional dimension:What is the common term for the representation of multidimensional information: Table Block --->Cube All of the above

question

Which of the following is one of the principle BI enablers

answer

Technology, processes, and corporate culture --->Technology, people, and corporate culture Technology, people, and customer culture Technology, processes, and customer culture

question

What is data mining

answer

--->The process of analyzing data to extract information not offered by the raw data alone A particular attribute of information The common term for the representation of multidimensional information Uses a variety of techniques to find patterns and relationships in large volumes of information and infer rules from them that predict future behavior and guide decision making

question

What is a project

answer

Represents key dates when a certain group of activities must be performed Any measurable, tangible, verifiable outcome, result, or item that is produced to complete a project or part of a project --->temporary endeavor undertaken to create a unique product, service, or result The application of knowledge, skills, tools, and techniques to project activities in order to meet or exceed stakeholder needs and expectations from a project

question

What are the three primary variables (or triple constraints) in any project

answer

Time, cost, expense Time, cost, quality Time, expense, requirements --->Time, cost, scope

question

What are project deliverables

answer

--->Any measurable, tangible, verifiable outcome, result, or item that is produced to complete a project or part of a project The application of knowledge, skills, tools, and techniques to project activities in order to meet or exceed stakeholder needs and expectations from a project A temporary endeavor undertaken to create a unique product or service Represent key dates when a certain group of activities must be performed

question

What is any measurable, tangible, verifiable coutcome, result or tiem that is produced to complete a project or part of a project

answer

--->Project deliverable Project management Project None of the above

question

What is an internal department that oversees all organizational projects

answer

Project Milestone Institute Project Management Institute --->Project Management Office All of the above

question

What is the number one reason that IT projects fall behind schedule or fail

answer

--->Poor planning or poor project management Change in business goals during the project Change in technology during the project Lack of support from business management

question

What is a project milestone

answer

An internal department that oversees all organizational projects: Measurable, tangible, verifiable outcome, result, or item that is produced to complete a project or part of a project: --->Represent key dates when a certain group of activities must be performed: An individual who is an expert in project planning and management, defines and develops the project plan, and tracks the plan to ensure the project is completed on time and on budget:

question

Most business managers are also good project managers

answer

True --->False

question

The project management institute develops procedures and concepts necessary to support the profession of project management

answer

--->True False

question

What is a temporary endeavor undertaken to create a unique product, service, or result

answer

Project deliverable Project management PMO --->Project

question

A project is an ongoing endeavor undertaken to create a unique product or service

answer

True --->False

question

What is a simple bar chart that depicts project tasks against a calendar

answer

--->Gantt chart PERT chart Dependency All of the above

question

What is the most important part of the project plan

answer

Gantt chart Specification --->Communication None of the above

question

Who are individuals and organizations actively involved in the project or whose interests might be affected as a result of project execution or project completion

answer

Project manager --->Project stakeholders Executive sponsor All of the above

question

What do SMART criteria for successful objective creation include

answer

Specific, metrics, agreed upon, realistic, time framed --->Specific, measurable, agreed upon, realistic, time framed Specific, measurable, accurate, real, time valued Specific, metrics, agreed upon, real, time valued

question

What is a graphical network model that depicts a project's tasks and the relationships between those tasks

answer

Gantt chart --->PERT chart Dependency All of the above

question

A project plan should include a "kill switch" or a trigger that enables a project manager to close the project prior to completion

answer

--->True False

question

What is the critical path

answer

--->The path from start to finish that passes through all the tasks that are critical to completing the project in the shortest amount of time The path from resource to task that passes through all critical components of a project plan The path from start to finish that passes through all the tasks that are critical to completing the project in the longest amount of time The path between tasks to the projects finish that passes through all critical components of a project plan

question

What is the logical relationship that exists between the project tasks, or between a project task and a milestone

answer

Task --->Dependency Resource Activity

question

Which of the following is not a characteristic of a well-defined project plan

answer

Communicated to all key participants --->Prepared by the project manager Appropriate to the project's size Easy to read

question

What is a special-purpose knowledge-based information system that accomplishes specific tasks on behalf of its users

answer

--->Intelligent agent Neural network Intelligent systems Artificial intelligence

question

What is consolidation

answer

Enables users to get details, and details of details, of information Finds the inputs necessary to achieve a goal such as a desired level of output --->Involves the aggregation of information and features simple roll-ups to complex groupings of interrelated information The ability to look at information from different perspectives

question

What is drill-down capability

answer

--->Enables users to get details, and details of details, of information The ability to look at information from different perspectives Involves the aggregation of information and features simple roll-ups to complex groupings of interrelated information Finds the inputs necessary to achieve a goal such as a desired level of output

question

What is slice-and-dice capability

answer

--->The ability to look at information from different perspectives Enables users to get details, and details of details, of information Involves the aggregation of information and features simple roll-ups to complex groupings of interrelated information Finds the inputs necessary to achieve a goal such as a desired level of output

question

The ultimate goal of AI is the ability to build a system that can mimic human intelligence

answer

--->True False

question

A Decision Support System typically relies on external soruces of information while an Executive Information System does not

answer

True --->False

question

What integrates information from multiple components and tailors the information to individual preferences

answer

Sensitivity analysis Drill-down What-if analysis --->Digital dashboards

question

Which of the following is the most commonly used form of AI in the business arena

answer

--->Expert system Artificial intelligence Intelligent system Neural network

question

Consolidation, drill-down, and slice-and-dice are the three most common capabilities offered in an EIS

answer

--->True False

question

Which of the following is not a reason for the growth of decision-making information systems

answer

--->People no longer have to worry about protecting the corporate asset of organizational information People need to analyze large amounts of information People must apply sophisticated analysis techniques to make good decisions People must make decisions quickly

question

Which of the following is a quantitative model typically used by a DSS

answer

Sensitivity analysis What-if analysis Goal-seeking analysis --->All of the above

question

An executive information system is a specialized DSS that supports senior level executives within the organization

answer

--->True False

question

What can a model accomplish

answer

Calculate risks Understand uncertainty Manipulate time --->All of the above

question

A shopping bot is one of the simplest examples of an intelligent agent

answer

--->True False

question

What is a category of AI that attempts to emulate the way the human brain works

answer

Artificial intelligence Intelligent system Expert systems --->Neural network

question

Which phase describes the desired features and operations of the system including screen layouts, business rules, process diagrams, pseudo code, and other documentation

answer

Development phase Analysis phase --->Design phase Testing phase

question

What are the detailed steps the system must perform along with the expected results of each step

answer

COTS JAD --->Test conditions Technical architecture

question

What contains the final set of business requirements, prioritized in order of business importance

answer

--->Requirements definition document Technical architecture Business requirement JAD session

question

Which of the following is not a type of feasibility study

answer

Operational feasibility study --->Critical success factor feasibility study Technical feasibility study Legal and contractual feasibility study

question

Provide training for the system users typically occurs during the testing phase

answer

True --->False

question

Which of the following is not a key factor an organization should consider when contemplating the buy vs

answer

build decision: Corporate core competencies --->Availability of CASE tools Availability of corporate resources Time to market

question

What represents a session where employees meet, sometimes for several days, to define or review the business requirements for the system

answer

Sign-off Business requirement --->JAD session Requirements definition document

question

Parallel implementation uses both the old and new systems until it is evident that the new system performs correctly

answer

--->True False

question

What is COTS

answer

Illustrates the movement of information between external entities and the processes and data stores within the system --->A software package or solution that is purchased to support one or more business functions and information systems Involves graphically representing the processes that capture, manipulate, store, and distribute information between a system and its environment Software suites that automate systems analysis, design, and development

question

Which of the following is a performed by a CCB

answer

A group of people who respond to internal system user questions Making changes to repair system defects Includes a collection of procedures to document a change request and define the steps necessary to consider the change based on the expected impact of the change --->Responsible for approving or rejecting all change requests

question

What is one of the most common reasons why systems development projects fail

answer

--->Unclear or missing business requirements Lack of JAD sessions Purchasing COTS All of the above

question

Which phase takes all of the detailed design documents from the design phase and transforming them into the actual system

answer

Design phase --->Development phase Analysis phase Testing phase

question

In which phase is it most expensive to make a system change

answer

Design Development --->Testing Planning

question

What is process modeling

answer

Illustrates the movement of information between external entities and the processes and data stores within the system Software suites that automate systems analysis, design, and development --->Involves graphically representing the processes that capture, manipulate, store, and distribute information between a system and its environment None of the above

question

Which of the following is not performed during the implementation phase

answer

Determine implementation method Write detailed user documentation Provide training for the system users --->Write detailed business requirements

question

What is an arrangement by which one organization provides a service or services for another organization that chooses not to perform them in-house

answer

--->Outsourcing Offshore outsourcing Insourcing Business process outsourcing

question

Which of the following is a benefit an organization can receive from outsourcing

answer

Reduced operating expenses Access to advanced technologies Reduced time to market for products or services --->All of the above

question

Which of the following is the primary reason why companies outsource

answer

Reduce costs --->Tap outside sources of expertise Eliminate the need to reinvest in technology Reduce head count

question

Human resources is the most common outsourced function

answer

True --->False

question

Which of the following are the influential driver(s) affecting the growth of outsourcing markets

answer

Core competencies Rapid growth Industry changes --->All of the above

question

Which of the following is the most commonly outsourced service

answer

Human Resources Facilities Management Finance and Accounting --->Information Technology

question

What is engaging another company within the same country for services

answer

Offshore outsourcing Nearshore outsourcing Insourcing --->Onshore outsourcing

question

Globalization is an influential driver affecting the growth of outsourcing

answer

--->True False

question

Which of the following is the least common function outsourced

answer

--->Marketing/sales Finance and Accounting Human Resources Information Technology

question

What is using organizations from developing countries to write code and develop systems

answer

Insourcing Nearshore outsourcing Onshore outsourcing --->Offshore outsourcing

question

Offshore outsourcing is using organizations from developing countries to write code and develop systems

answer

--->True False

question

Which of the following is the most uncommon reason why companies outsource

answer

--->Better manage the costs of internal processes Reduce headcount and related expenses Concentrate resources on core business Tap outside sources of expertise

question

Reducing costs in the primary reason that companies outsource services

answer

True --->False

question

What is contracting an outsourcing arrangement with a company in a nearby country

answer

Offshore outsourcing Onshore outsourcing Insourcing --->Nearshore outsourcing

question

All of the following are challenges of outsourcing, except

answer

--->Quality Confidentiality Competitive edge Contract length

question

Outsourcing is a common approach using the professional expertise within an organization to develop and maintain the organization's information technology systems

answer

True --->False

question

Insourcing is an arrangement by which one organization provides a service or services for another organization that chooses not to perform them in-house

answer

True --->False

question

Companies that outsource services reduce their costs but still grow at the same pace of companies that do not outsource

answer

True --->False

question

What is a common approach using the professional expertise within an organization to develop and maintain the organization's information technology systems

answer

Offshore outsourcing Business process outsourcing --->Insourcing Outsourcing

question

Which of the following is an outsourcing challenge caused by contract length

answer

Difficulties in getting out of a contract Problems in foreseeing future issues Problems in reforming an internal IT department --->All of the above

question

Which of the following is the best security practice used today

answer

--->Virus protection Network firewalls User passwords None of the above

question

Which of the following is not one of the primary information technology areas where organizations are focusing

answer

Integration --->Database Security IT infrastructure

question

What is a technique for identifying and tracking assets and individuals via technologies such as RFID and smart cards

answer

Telematics --->Electronic tagging Mobile commerce None of the above

question

IT infrastructure, security, e-business, and integrations are the four primary information technology areas where organizations are focusing

answer

--->True False

question

What is the blending of computers and wireless telecommunications technologies with the goal of efficiently conveying information over vast networks to improve business operations

answer

--->Telematics Electronic tagging Mobile commerce Radio frequency identification

question

What is the ability to purchase goods and services through a wireless Internet-enabled device

answer

Electronic tagging --->Mobile commerce Telematics None of the above

question

Which of the following is one of the new series of business success factors that are helping to determine marketplace winners

answer

Organization agility A focus on core competencies Instantaneous business response --->All of the above

question

The barriers to mobile employees adopting wireless communication still largely outweigh the benefits

answer

True --->False

question

Which of the following was the original design for the Internet

answer

E-mail Document exchange Display of static content --->All of the above

question

Which company is a leader in the transformation of the broadcasting industry

answer

UPS Cisco --->PBS Sony

question

Decisions in IT investments play critical role in business success

answer

--->True False

question

The IT infrastructure is the hardware, software, and telecommunications equipment that, when combined, provide the underlying foundation to support the organization's goals

answer

--->True False

question

Which of the following is a benefit a business can receive by deploying the latest in security technology

answer

Fewer disruptions to organizational systems Increased productivity of employees Greater advances in administration --->All of the above

question

Which of the following is one of the st century organizational trends on the business side

answer

Uncertainty in terms of future business scenarios and economic outlooks Emphasis on strategic analysis for cost reduction and productivity enhancement Focus on improved business resiliency via the application of enhanced security --->All of the above

question

Which of the following is a reason why businesses want to have the appropriate levels of authentication, access control, and encryption

answer

Only authorized individuals can access applications for which they are entitled: Only authorized individuals can gain access to the network: Individuals cannot understand or alter information while in transit: --->All of the above

question

There reminds a sharp distinction between IT and business roles in an organization

answer

True --->False

question

Where is the position of IT infrastructure within the organization

answer

Top Middle --->Bottom Depends on the company as to the position of the IT infrastructure

question

Which company was the victim of a distributed denial-of-service (DDoS) attack that forced the company to close operations and to eventually transfer over , customers to a rival organization

answer

The Gap Marks & Spencer --->CloudNine Communications Public Broadcasting Service

question

Core business relationships and models are dramatically changing, including shifts from which of the following

answer

Customer-centricity to product-centricity Mass customization to mass production --->The value in material things to the value of knowledge and intelligence All of the above

question

What uses active or passive tags in the form of chips or smart labels

answer

Electronic tagging --->Radio frequency identification Telematics Mobile commerce

STUDY

Brick And Mortar Economies Of Scale First Mover Advantage Internet Internet Service Provider

info Chapter 4 quiz – Flashcards 20 terms

Ethan Carter

20 terms

Preview

info Chapter 4 quiz – Flashcards

question

The shift from atoms to bits does not stand to impact content creators, middlemen, and retailers.

answer

False

question

What solution has Netflix come up with to address the need to deliver content to customers' televisions?

answer

Netflix provides tools to firms seeking to build Netflix access into their devices.

question

Brands are built through _____.

answer

customer experience

question

Netflix competitors in streaming are small and mostly unprofitable.

answer

False

question

Netflix gets to retain the entire subscription revenue for every disk sent out to a customer.

answer

False

question

Internet retailers serve a larger geographic area with comparably smaller infrastructure and staff. This fact suggests that Internet businesses are more _____.

answer

scalable

question

Which of the following is true of Netflix streaming?

answer

Content providers enjoy greater bargaining power as the sole source for unique titles unavailable from any other source.

question

User ratings act as _____ for Netflix's customers.

answer

switching costs

question

When firms enjoy economies of scale, they:

answer

leverage the cost of an investment across increasing units of production.

question

How does Cinematch offer Netflix additional operational advantages for the DVD-by-mail business?

answer

Cinematch is linked to warehouses and recommends movies that are likely to be in stock.

question

Title availability is complicated by a distribution practice known as _____.

answer

windowing

question

Costs that do not vary according to production volume are called _____.

answer

fixed costs

question

How is the collaborative filtering software used by Netflix advantageous to the firm?

answer

The software has created an enormous data advantage that is valuable, results yielding, and difficult for newcomers to match.

question

How does the Cinematch recommendation system work?

answer

Cinematch develops a map of user ratings and steers users toward titles preferred by people with similar tastes.

question

By shifting to a streaming model, Netflix stands to eliminate shipping and handling costs.

answer

True

question

_____ refers to removing an organization from a firm's distribution channel.

answer

Disintermediation

question

Which of the following statements is true about retailing?

answer

Nearly limitless selection allows Internet retailers to leverage the long tail.

question

The shift from atoms to bits is realigning nearly every media industry.

answer

True

question

The Netflix work culture is in many ways similar to its peers.

answer

False

question

One of the benefits of disintermediation in the video industry is that:

answer

studios get to retain all the money generated through windows where they control distribution.

STUDY

First Mover Advantage Five Forces Model Sports Marketing Value Chain Analysis

ISM Exam 1 HW Questions – Flashcards 41 terms

Marlon Riddle

41 terms

Preview

ISM Exam 1 HW Questions – Flashcards

question

Competitive Advantage

answer

A product or service that an organization's customers value more highly than similar offerings from a competitor

question

Effectiveness

answer

According to Peter Drucker, what are managers who do the right things addressing?

question

D.) All of the above

answer

Understanding information technology begins with gaining an understanding of how businesses function and IT's role in creating efficiencies and effectiveness across the organization. How do typical businesses operate? A.) By functional areas B.) By silos C.) By functional silos D.) All of the above

question

D.) Marketing plan

answer

Which of the following is not a primary information technology project goal? A.) Reduce costs B.) Improve productivity C.) Create competitive advantages D.) Marketing plan

question

d) All of the above

answer

Why is there generally a gap between IT personnel and business personnel? a) Differing vocabularies b) Differing experiences c) Differing expertise d) All of the above

question

b) Private exchange

answer

What is a business-to-business (B2B) marketplace in which a single buyer posts its needs and then opens the bidding to any supplier who would care to bid? a) Reverse auction b) Private exchange c) Private auction d) Reverse exchange

question

d) All of the above

answer

What must an individual anticipating a successful career in business, whether it is in accounting, finance, human resources, or operations management, understand? a) Information technology basics b) Roles and responsibilities in information technology c) Measuring information technology's success d) All of the above

question

a) Marketing, sales, and accounting departments decide to use the same vendor for a new system

answer

Which help an organization maintain consistent business operations? a) Marketing, sales, and accounting departments decide to use the same vendor for a new system b) Sales decides to implement a new system without considering other departments c) A new office policy states that all managers can implement their own policies for purchasing supplies and materials d) Marketing decides to save customer's email addresses in the marketing system, even though other organizational systems do not have this capability

question

b) ERP

answer

Which system did the city of Los Angeles decide to implement to integrate purchasing and financial reporting? a) CRM b) ERP c) SCM d) KM

question

c) Accounting and finance

answer

Which ERP component would have a feature to set a credit limit? a) CRM b) Ebusiness c) Accounting and finance d) All of the above

question

a. Enterprise

answer

What is the key word in ERP? a. Enterprise b. Resource c. Planning d. All of the above

question

c. Human resource components

answer

Which component can help an organization determine such things as the identification of individuals who are likely to leave the company unless additional compensation or benefits are provided? a. Accounting and finance components b. Production and managerial management components c. Human resource components d. Production and materials management components

question

a. Off the rack

answer

Which of the following is the equivalent to purchasing a canned software ERP package? a. Off the rack b. Off the rack and tailored to fit c. Custom made d. All of the above

question

Enterprise Resource Planning

answer

Integrates all departments and functions throughout an organization into a single TI system so that employees can make decisions by viewing enterprisewide information on all business operations

question

d. All of the above

answer

Which of the following describes an ERP system? a. ERP systems provide a foundation for collaboration between departments b. ERP systems enable people in different business areas to communicate c. ERP systems have been widely adopted in large organizations to store critical knowledge used to make the decisions that drive the organization's performance d. All of the above

question

d. All of the above

answer

Which of the following occurs when everyone involved in sourcing, producing, and delivering the company's product works with the same information? a. Eliminates redundancies b. Cuts down wasted time c. Removes misinformation d. All of the above

question

66%

answer

What is the average failure rate for an ERP project according to Gartner research?

question

Enterprise Architecture

answer

Includes the plans for how an organization will build, deploy, use, and share its data, processes, and IT assets

question

Application Architecture

answer

What determines how applications integrate and relate to each other?

question

Infrastructure Architecture

answer

What includes the hardware, software, and telecommunications equipment that, when combined, provide the underlying foundation to support the organization's goals?

question

Daily

answer

How frequently should a large organization that deals with large volumes of critical information backup?

question

Business Continuity Plan

answer

What is a plan for how an organization will recover and restore partially or completely interrupted critical functions within a predetermined time after a disaster or extended disruption?

question

Fault Tolerance

answer

A computer system designed that in the event a component fails, a backup component or procedure can immediately take its place with no loss of service

question

Scalability

answer

What refers to how well a system can adapt to increased demands?

question

VoIP

answer

What uses TCP/IP technology to transmit voice calls over long-distance telephone lines?

question

Virtual Private Network

answer

A way to use the public telecommunication infrastructure (e.g., Internet) to provide secure access to an organization's network.

question

c. Reliably and securely exchange information internally but never externally via the Internet

answer

Which of the following is not a common business network characteristic? a. Provide for the transparent exchange of information with suppliers, trading partners, and customers b. Respond to high demands with scalable processing power and networking capacity c. Reliably and securely exchange information internally but never externally via the Internet d. Allow end-to-end integration and provide message delivery across multiple systems

question

Bandwidth

answer

What is the difference between the highest and the lowest frequencies that can be transmitted on a single medium, and it is a measure of the medium's capacity?

question

Broadband

answer

What refers to high-speed Internet connections transmitting data at speeds greater than 200 Kbps, compared to the 56 Kbps maximum speed offered by traditional dial-up connections?

question

RFID Tag

answer

Contains a microchip and an antenna, and typically works by transmitting a serial number via radio waves to an electronic reader, which confirms the identity of a person or object bearing the tag

question

b. Monitor the performance of key individuals

answer

Which of the following is not one of the three key steps involved in business process improvement? a. Measure what matters to most customers b. Monitor the performance of key individuals c. Assign accountability for process improvement d. Monitor the performance of key business processes

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a. Inputs, tasks, and activities in a structured sequence

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Business process modeling (or mapping) is the activity of creating a detailed flow chart or process map of a work process showing: a. Inputs, tasks, and activities in a structured sequence b. Resources, tasks, and inputs in a structured sequence c. Resources, timeframes, and tasks in a structured sequence d. Inputs, tasks, and costs in a structured sequence

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Business Process Management

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What integrates all of an organization's business process to make individual processes more efficient?

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c. The processes occur only within organizations

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Which of the following is not one of the important characteristics of business processes? a. The processes have internal users b. The processes have external users c. The processes occur only within organizations d. The processes occur across organizations

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d. Budgeting

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Which of the following is a business facing process? a. Marketing process b. Sales process c. Billing process d. Budgeting

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Project Assumptions

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Factors that are considered to be true, real, or certain without proof or demonstration

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Project Charter

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A document issued by the project initiator or sponsor that formally authorizes the existence of a project and provides the project manager with the authority to apply organizational resources to project activities

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Project Constraints

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are specific factors that can limit options. They include: -BUDGET -DELIVERY -DATES -AVALIABLE SKILLED RESOURCES -ORGANIZATIONAL POLICIES

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d. All of the above

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An organization must identify what it wants to do and how it is going to do it. What does the "what" part of this question focus on? a. Justification of the project b. Definition of the project c. Expected results of the project d. All of the above

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d. Develop a project plan

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Which of the following is not a technique for choosing strategic projects? a. Categorize projects b. Perform a financial analysis c. Focus on organizational goals d. Develop a project plan

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Project Objectives

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Quantifiable criteria that must be met for the project to be considered a success

STUDY

Business Business Intelligence First Mover Advantage Five Forces Model Strategic Decision Making Value Chain Analysis

mis 300 – Flashcards 35 terms

Kaiya Hebert

35 terms

Preview

mis 300 – Flashcards

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1. Which of the following is not considered a core driver of the information age?a. Information. b. Business Intelligence. c. Competitive Intelligence. d. Data.

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2. Which of the following is not included as one of Friedman's 10 forces that flattened the world? a. Systems thinking. b. Outsourcing. c. The Fall of the Berlin Wall. d. Supply Chaining

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3. 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.

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4. 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.

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5. Which of the following is included as one of Friedman's 10 Forces that flattened the world? a. Wireless technologies. b. Global warming impacts. c. Social environmental technologies. d. Hazardous waste environmental impacts.

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6. 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.

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7. Which of the following statements is true? a. IT equals business success. b. IT equals business innovation. c. It represents business success and innovation. d. IT enables business success and innovation.

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8. Ellie May Clampett runs a very successful hair salon in downtown Beverly Hills. One of Ellie May's tasks is to input positive and negative customer reviews into her computer system. What type of information is Ellie May gathering? a. Feedback. b. Processing. c. Output management. d. Sales processing.

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9. Jethro Bodine works for Commerce Bank as a corporate lawyer and part of his duties is to ensure the ethical and legal use of information within the company. Which of the following represents Jethro's role at Commerce Bank? a. Chief Knowledge Officer (CKO). b. Chief Privacy Officer (CPO). c. Chief Technology Officer (CTO). d. Chief Information Officer (CIO).

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10. 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.

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11. Which role within a company is responsible for overseeing all uses of MIS and ensuring that MIS strategy 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)

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12. 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.

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13. 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.

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14. 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.

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15. 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 is using to achieve this competitive advantage? a. Rivalry. b. Buyer Power. c. Product Differentiation. d. Substitute product.

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16. 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.

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17. Which of the following demonstrates a company that has implemented a low cost, broad market strategy? a. Neiman Marcus. b. Payless Shoes. c. Nordstrom's. d. Walmart.

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18. Which of the below represents the three different levels of a company pyramid from the top to the bottom? a. Managerial-Strategic-Operational. b. Strategic-Managerial-Operational. c. Operational-Managerial-Strategic. d. Strategic-Operational-Managerial.

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19. Which of the below is not considered a part of decision making at the managerial level? a. Developing overall business goals and objectives. b. Creating a short-term budget. c. Allocating resources to a department. d. Monitoring performance of a project team.

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20. CSF's and KPI's are two core metrics used to evaluate results and measure the progress of a project for the business. Which of the below represents the acronyms for CSF and KPI? a. Continual Success Factors and Key Performance Indicators. b. Critical Success Factors and Key Project Ideas. c. Customer Success Findings and Key Project Ideas. d. Critical Success Factors and Key Performance Indicators.

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21. What is the analysis and redesign of workflow within and between enterprises? a. Critical Success Factors (CSF's). b. Benchmarking Metrics. c. Business Process Re-engineering (BPR). d. Decision Support Interfaces (DSI).

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22. What improves managerial level business processes? a. Performance Measures. b. Bottlenecks. c. Redundancy. d. Streamlining.

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23. What is the primary goal of using "As-Is" and "To-Be" process models? a. To determine employee specific errors. b. To determine measurement metrics. c. To determine the best way to solve a problem. d. To determine what the problem is and then how to solve the problem

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24. Which of the following should a business follow for success? a. Technology choices should drive business processes. b. Business processes should drive technology choices. c. Technology choices should drive business strategies and goals. d. Business strategies should directly drive technology choices.

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25. What is the difference between customer-facing processes and business-facing processes? a. Business-facing processes are front-office processes, customer-facing processes are back-office processes. b. Customer-facing processes are front-office processes, business-facing processes are back-office processes. c. Customer-facing processes are back-office processes, and industry-specific customer-facing processes are back-office processes. d. Customer-facing processes are back-office processes, and industry-specific customer-facing processes are front-office processes.

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26. Which of the below does not represent a category of Artificial Intelligence (AI)? a. Genetic algorithms. b. Neural networks. c. Expert systems. d. Consolidation.

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27. A transaction processing system (TPS) is the basic business system that assists operational level analysts when making structured decisions. Which of the below is not an example of a TPS? a. Target's internal company payroll system. b. Comfort Dental patient diagnosis system. c. First Bank's overall accounting system. d. Stewart Sport's order entry system.

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28. Which of the below would create transactional information? a. Projecting future sales growth. b. Making an airline reservation. c. A semi-structured decision to hire more employees. d. Generating payroll reports.

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29. What would managers use to make structured decisions at the operational level? a. Transactional information. b. Analytical information. c. An EIS. d. Intelligent System.

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30. A common mistake that many managers tend to make is focusing on only one type of metrics because they are easier to measure. Which type of metrics do they focus on? a. Effectiveness MIS metrics. b. Efficiency MIS metrics. c. Endurance MIS metrics. d. Product sales metrics.

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31. Which term is used to describe the ease with which people perform transactions and/or find information? a. Usability. b. Customer satisfaction. c. Financial. d. Conversion rates.

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32. Which of the following represents an internal KPI that indicates the earning power of a project? a. Market share. b. Return on intelligent. c. Sensitivity analysis. d. Return on investment.

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33. CSF's and KPI's are the two core metrics used within a business to track progress or success. What is the relationship between CSF's and KPI's? a. CSF's are business strategy elements whereas KPI's measure the progress of the CSF's. b. CSF's build the business environment where KPI's explain how to build the CSF's. c. KPI's are used first whereas CSF's are applied after. d. KPI's promote employees on their performance whereas CSF's demote employees based on their performance level.

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34. Which of the below statements is accurate? a. Key performance indicators can have no more than four critical success factors. b. Critical success factors can have no more than four key performance indicators. c. Key performance indicators can have several critical success factors. d. Critical success factors can have several key performance indicators.

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35. Which of the below is an example of a critical success factor? a. Increase customer satisfaction. b. Number of new customers c. Number of new products. d. Percentage of employee turnover.

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STUDY

Attracting New Customers First Mover Advantage Five Forces Model Social Networks Like Facebook Value Chain Analysis

MIS Quiz Questions Chapter One – Flashcards 37 terms

Cara Robinson

37 terms

Preview

MIS Quiz Questions Chapter One – Flashcards

question

Your boss, Tom Repicci, has asked to analyze the airline industry using Porter's three generic strategies. What company used 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. What company used a cost leadership strategy?

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Southwest, Horizon, JetBlue

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Feedback is information that returns to it 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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The sales department needs to rely on information from operations to understand _____.

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Inventory, customer orders, demand forecasts.

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What example is where Porter's five forces are mostly strong and competition high?

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A dog-walking business

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Data are useful for understanding individual sales, but to gain deeper insight into a business, data needs to be turned into information. What are some examples of turning data into information?

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Amount sold, customer number, best/worst customer

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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 employee.

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Advantage

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MIS can be an important enabler of business success and innovation. What statement is accurate when referring to MIS?

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MIS is a valuable tool that can leverage the talents of people who know how to manage it effectively.

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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. What represents Trina's role at Johnson Electric?

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Chief Privacy Officer (CPO)

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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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A system is a collection of parts that link to achieve a common purpose. Systems thinking is a way of monitoring ______.

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The entire system

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What is an example of information?

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What is my worst-selling product?

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Your boss, Kerry Miller, has asked you to analyze the soft-drink industry using Porter's five forces model. What represents a threat of a new entrant in the soft-drink industry?

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Zevia Natural Diet Soda begins selling directly over the internet

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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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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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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?

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Feedback

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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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What 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 value-adding activities to increase their value, Perform some combination of the two

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According to Porter, companies that wish to dominate broad markets should operate using a ________ strategy.

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Cost leadership with a low cost

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Which of the following is not considered a core driver of the information age?

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Competitive intelligence

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When buyer power is low, supplier power is typically_____

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high

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As companies move from data to knowledge, they will start to include more and more variables for analysis resulting in better, more precise support for _____________.

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Decision making, problem solving

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Which of the following is not a typical way that a company would duplicate a competitive advantage?

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Carrying large product inventories

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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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Operations manager

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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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Information technology can enable departments to more efficiently and effectively perform their core _____________.

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Business operations

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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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Steve Jobs and Apple created a big advantage in the technology industry with the introduction of the iPod, iPhone, and iPad.

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competitive advantage, competitive intelligence, first-mover advantage

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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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When analyzing Porter's three generic strategies for entering a market, if you have a focused strategy what market should you target?

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A niche market

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What provides an example of data?

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Who is customer number 12345XX?

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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, Universal.

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Which of the following represents the definition of a variable

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A data characteristic that stands for a value that changes or varies over time

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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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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, Virgin Atlantic.

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Which of the following represents a reason that competitive advantages are typically temporary?

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The competitor will hire away your key employees. The competitor quickly seeks ways to duplicate your business operations. The competitor will purchase new technology.

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