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Macroeconomics Chapter 37 – Flashcards 10 terms

Jason Westley
10 terms
Preview
Macroeconomics Chapter 37 – Flashcards
question
Rational expectations theory assumes that:
answer
-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
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
question
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.
answer
AA
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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.
answer
A
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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
answer
C
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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
answer
A
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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.
answer
? 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.
answer
C
question
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
answer
D
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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?
answer
D
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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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D
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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.
answer
?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.
answer
D
question
When Friedman describes Globalization 3.0, he discuss 10 forces that ________ the world. A. Increased B. Shrunk C. Prioritized D. Flattened
answer
D
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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.
answer
C
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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.
answer
A
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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.
answer
B
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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.
answer
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.
answer
A
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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.
answer
B
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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.
answer
B
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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.
answer
D
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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.
answer
D
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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.
answer
A
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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.
answer
B
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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.
answer
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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A
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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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B
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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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D
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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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C
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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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D
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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
answer
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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C
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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.
answer
C
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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.
answer
C
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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.
answer
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.
answer
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.
answer
B
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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.
answer
A
question
. 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.
answer
?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.
answer
A
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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.
answer
D
question
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.
answer
A
question
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.
answer
A
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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.
answer
C
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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.
answer
D
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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.
answer
B
question
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.
answer
A
question
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.
answer
B
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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.
answer
D
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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.
answer
A
question
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.
answer
B
question
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.
answer
D
question
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.
answer
C
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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.
answer
D
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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.
answer
D
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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.
answer
C
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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.
answer
c
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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.
answer
...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.
answer
...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.
answer
...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.
answer
...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.
answer
...D
question
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
answer
...C
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 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.
answer
...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.
answer
...C
question
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
answer
...?C?
question
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.
answer
...D?
question
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
answer
...A
question
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.
answer
...D?CH2Q16
question
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
answer
...C
question
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
answer
...A
question
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.
answer
...????CH2Q19
question
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.
answer
...???
question
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.
answer
...D
question
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.
answer
..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.
answer
...A
question
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.
answer
...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.
answer
...
question
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
answer
...C
question
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.
answer
...A
question
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.
answer
...C
question
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.
answer
...D??
question
30. When buyer power is low, supplier power is typically ______. A. Identical. B. High. C. Low. D. Unstable.
answer
...B
question
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.
answer
...C
question
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.
answer
...A??
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.
answer
true
question
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
question
Small-scale entrants are more likely to capture first-mover advantages associated with switching costs.
answer
false
question
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.
answer
false
question
The probability of survival decreases if an international business enters a national market after several other foreign firms have already done so.
answer
false
question
In international business, a strategic commitment has a short-term impact and is easily reversible.
answer
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.
answer
true
question
A risk-averse international firm that enters a foreign market on a small scale will increase its potential losses.
answer
false
question
A drawback of exporting is that tariff barriers can make it uneconomical as a mode of entry into a foreign market.
answer
true
question
Exporting, as a mode of entry into foreign markets, does not help a firm achieve experience curve and location economies.
answer
false
question
An international firm that enters into a turnkey deal has a long-term interest in the foreign country.
answer
false
question
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.
answer
false
question
Under a cross-licensing agreement, a firm can either request a royalty payment or license some valuable intangible property to a foreign partner.
answer
false
question
Franchising, a mode of entry into a foreign market, helps firms exert greater quality control over franchises in foreign locations.
answer
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.
answer
true
question
Acquiring firms often overpay for the assets of the acquired firms.
answer
true
question
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.
answer
true
question
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
answer
A) Rapid economic growth
question
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
answer
E) Nature of indigenous competition
question
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
answer
A) When the product offers greater value to customers in the foreign market
question
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
answer
E) The ability to create switching costs that tie customers into one's products or services
question
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.
answer
C) faces a subsequent change in business regulations in the host-country.
question
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
answer
E) Absence of prior foreign entrants
question
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.
answer
E) ride on an early entrant's investments in learning and customer education.
question
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
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
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?
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
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?
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
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
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
question
The information age is the present time, during which infinite quantities of facts are widely available to anyone who can use a computer.
answer
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
answer
false
question
A variable is a business intelligence characteristic that stands for a value that cannot change over tim
answer
falsr
question
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
question
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
answer
true
question
The finance department performs the function of selling goods or services.
answer
false
question
The marketing department supports sales by planning, pricing, and promoting goods or services
answer
true
question
The operations management department manages the process of converting or transforming resources into goods or services.
answer
true
question
true
answer
The accounting and finance departments primarily use monetary data
question
The sales and marketing departments primarily use production data.
answer
false
question
For an organization to succeed, every department or functional area must work independently to be most effective
answer
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
answer
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
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
question
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
question
19. Which of the following represents the relationship between functional areas in a business? Interdependent Independent Autonomous Self-sufficient
answer
Interdependent
question
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
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
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
Copyright --->Information security Privacy Ethics
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
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.
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
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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?
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Broadband
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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
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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
answer
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
question
Business Process Management
answer
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
answer
Which of the following is a business facing process? a. Marketing process b. Sales process c. Billing process d. Budgeting
question
Project Assumptions
answer
Factors that are considered to be true, real, or certain without proof or demonstration
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Project Charter
answer
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
answer
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
question
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
question
Project Objectives
answer
Quantifiable criteria that must be met for the project to be considered a success
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
question
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.
answer
c
question
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
answer
a
question
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.
answer
a
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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.
answer
d
question
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.
answer
a
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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.
answer
b
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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.
answer
d
question
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.
answer
a
question
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).
answer
b
question
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.
answer
b
question
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)
answer
c
question
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.
answer
a
question
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.
answer
c
question
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.
answer
a
question
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.
answer
c
question
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.
answer
c
question
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.
answer
d
question
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.
answer
b
question
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.
answer
a
question
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.
answer
d
question
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).
answer
c
question
22. What improves managerial level business processes? a. Performance Measures. b. Bottlenecks. c. Redundancy. d. Streamlining.
answer
d
question
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
answer
d
question
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.
answer
b
question
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.
answer
b
question
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.
answer
d
question
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.
answer
b
question
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.
answer
b
question
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.
answer
a
question
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.
answer
b
question
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.
answer
a
question
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.
answer
d
question
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.
answer
a
question
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.
answer
d
question
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.
answer
a
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?
answer
Sky Taxi- a rent-by-the hour personal plane service.
question
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?
answer
Southwest, Horizon, JetBlue
question
Feedback is information that returns to it original transmitter and modifies the transmitter's actions. What would the original transmitter include?
answer
Input, Transform, Output
question
The sales department needs to rely on information from operations to understand _____.
answer
Inventory, customer orders, demand forecasts.
question
What example is where Porter's five forces are mostly strong and competition high?
answer
A dog-walking business
question
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?
answer
Amount sold, customer number, best/worst customer
question
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.
answer
Advantage
question
MIS can be an important enabler of business success and innovation. What statement is accurate when referring to MIS?
answer
MIS is a valuable tool that can leverage the talents of people who know how to manage it effectively.
question
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?
answer
Chief Privacy Officer (CPO)
question
Updating business strategies is a continuous undertaking as internal and external environments ______.
answer
Rapidly Change
question
A system is a collection of parts that link to achieve a common purpose. Systems thinking is a way of monitoring ______.
answer
The entire system
question
What is an example of information?
answer
What is my worst-selling product?
question
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?
answer
Zevia Natural Diet Soda begins selling directly over the internet
question
Which of the following is similar to focused strategy versus broad strategy?
answer
Niche market versus large market
question
How can a company reduce the threat of substitute products or services?
answer
Offer additional value through wider product distribution.
question
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?
answer
Feedback
question
If a supplier has high power,what can it do to influence its industry?
answer
Charge higher prices, Shift costs to industry participants, Limit Quality or services
question
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?
answer
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
question
According to Porter, companies that wish to dominate broad markets should operate using a ________ strategy.
answer
Cost leadership with a low cost
question
Which of the following is not considered a core driver of the information age?
answer
Competitive intelligence
question
When buyer power is low, supplier power is typically_____
answer
high
question
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 _____________.
answer
Decision making, problem solving
question
Which of the following is not a typical way that a company would duplicate a competitive advantage?
answer
Carrying large product inventories
question
Which of the following is not a topic associated with the information age?
answer
College statistics for data
question
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?
answer
Operations manager
question
Which of the following offers an example where Porter's Five Forces are mostly weak and competition is low?
answer
An international hotel chain purchasing milk
question
Information technology can enable departments to more efficiently and effectively perform their core _____________.
answer
Business operations
question
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 ________________.
answer
Cost advantage; product differentiation.
question
Steve Jobs and Apple created a big advantage in the technology industry with the introduction of the iPod, iPhone, and iPad.
answer
competitive advantage, competitive intelligence, first-mover advantage
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 buyer power in the soft-drink industry?
answer
Walmart negotiates a lower cost per bottle from Coke in exchange for premium shelf space in every Walmart store.
question
When analyzing Porter's three generic strategies for entering a market, if you have a focused strategy what market should you target?
answer
A niche market
question
What provides an example of data?
answer
Who is customer number 12345XX?
question
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?
answer
Established record labels like EMI, Sony, Universal.
question
Which of the following represents the definition of a variable
answer
A data characteristic that stands for a value that changes or varies over time
question
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?
answer
Product differentiation
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 differentiation strategy?
answer
British Airways, Singapore Airlines, Virgin Atlantic.
question
Which of the following represents a reason that competitive advantages are typically temporary?
answer
The competitor will hire away your key employees. The competitor quickly seeks ways to duplicate your business operations. The competitor will purchase new technology.