Business management system

During the third stage of the project management (PM) process, the manager constantly monitors the progress of the project and the project's resources. This is called the ____ Phase

Execution

The 3rd stage of the project management (PM) process, in which managers constantly monitor the progress of the project and the project's resources. is the ___ phase.

Execution

Which of the following is a tool commonly used by project managers?

Gantt chart

Select three major data analytics software platforms.

Oracle Analytics Cloud Tableau by Salesforce SAP Analytics Cloud

Select three popular inventory management systems.

QuickBooks Enterprise SAP Material Management (SAP MM) Oracle NetSuite

Because the number of variables involved in calculating future workforce needs makes this determination highly complex, HR managers often rely on ___

Recruiting and Hiring Software

Select three objectives that might typically be accomplished during the initiation phase (the first stage) of the project management process.

Stakeholders in the project are identified. A statement of work or other working agreement is created. A projected timeline for deliverables is developed.

What is conducted in the process execution step of business process management?

The business process execution language engine is run.

During the second stage of the project management (PM) process, a Gantt chart is created, or fine-tuned if one was started during the feasibility study. This is called the _____ phase

planning

Software can prove an indispensable aid in the successful execution of a project that has a specific starting point and ending point, and a set of deliverables, is called _______ management software.

project

Select two technologies that advanced the efficiency of inventory management systems.

radio frequency identification (RFID) universal product codes (UPC)

Select 3 activities that typically fall under the purview of an HR manager.

Fraternization policies Dress policies Employment agreements

Jim, an HR director, does not want to change business management systems, even though it brings several advantages and falls within his department budget. What are two reasons why Jim might not want to make the change?

Jim believes changing to the new system will cause a decrease in productivity, at least in the short-term. Jim believes the change will create employee stress as they are required to adapt to a new system.

The goal of business process ___ is to continually increase process efficiency.

Management

During the first stage of the project management (PM) process, the manager outlines the requirements of the project, documents these requirements, and analyzes the costs of the project. This is called the ____ phase

initiation

Decision ___ management information systems provide managers with tools to assist them in using this data to make better choices.

making

Managers should opt for a system that integrates easily with existing business management software, and that will take the shortest training time for employees that need to provide sale's or usage quantity inputs when choosing an inventory ______ solution

management

The fifth and final step in business process management has managers adapting the process to enhance process performance. This is called the process ______ step

optimization

Flowcharts are often used in business process modeling notation (BPMN), to provide a concise graphical depiction for documenting business processes. Match the flowchart symbol with its typical use.

the oval: shows the project's beginning and ending points The Arrow: Indicates the directional process of the flowchart The rectangle: Indicates an activity in the process The Diamond: Represents decision points and typically hold questions.

BI has no value if it cannot be interpreted and presented effectively to decision makers. Because of this, one of the most important features of any BI system are its data __ tools.

visualization

Place the 5 steps of business process management (BPM) in order with the first step at the top.

1. Examining design of the process 2. Modeling the process 3. Running the process 4. Monitoring the process 5. Initiating process improvements

The project management (PM) process has 4 phases. Place the phases in order with the first phase at the top.

1. The initiation phase 2. The planning phase 3. The execution phase 4. The closure phase

What is conducted in the process design step of business process management?

Activities are examined and divided into their individual components.

The 3 main components of a business management system include a decision-making information system, a predictive information system, and a ___.

Database management system

The first step in business process management examines business activities and breaks them down into their individual components. This is called the process decomposition step.

Design

Breaking down a business process into its component activities so that employees can be come efficient experts at that activity is called ___.

Division of labor

Through training and repetition, employees become experts at a specific activity, leading to increased efficiencies. This concept is referred to as ___.

Division of labor

Tracking the performance of employees will always be a critical component of management for this reason, most firms use ___.

Employee Evaluation Software

Payscale.com, Payfactors.com, and Salary.com are examples of sites that offer ___

Employee comp management solutions

SAP (originally Systems, Applications, & Products) is a recognized leader in the development of HRM software. SAP is headquartered in:

Germany

The most efficient way to implement an effective business intelligence (BI) system is to:

Get buy-in from the users (typically first line employees, supervisors, and junior management).

Select three reasons why managers use customer relationship management systems.

Improve pricing decisions To customize marketing messaging To target profitable customers

Select 2 reasons for the increased efficiency of modern inventory management systems.

Improved forecasts of order quantity levels More accurate estimates of re-ordering points

Ayala has decided to implement a new business management system. What are two advantages of hosting on-premises?

It can be configured to meet the unique needs of the organization. Any changes deemed necessary can be implemented extremely quickly.

Today's employees expect to be able to go online and see a record of their compensation and make adjustments such as their tax withholding. Twenty years ago they would have planned to meet with their human resources department representative to make such changes. This is one example of how expectations change as advancements in business __ systems occur.

Management

What is conducted in the process optimization step of business process management?

Managers adapt (modify) the process to enhance process performance.

What occurs during the process monitoring step of business process management?

Managers track the individual components of the process as well as the process as a whole so that the performance of the engine can be measured.

In the second step in business process management, analysts use flow-charts to depict workflow and the sequence of operations and decision points. This is called the process ___ step.

Modeling

Providing a concise graphical depiction for documenting business processes, business process ___ notation (BPMN) often involves the use of flowcharts.

Modeling

Providing a concise graphical depiction for documenting business processes, business process ______ notation ( BPMN) often involves the use of flowcharts

Modeling

Predictive information system

Models trends and attempts to predict outcomes

The doubling of the number of transistors on each chip that occurs roughly every 18 months means that computer capability, and the corresponding software, also improve rapidly. This phenomenon is called _______ Law

Moore's

Advances in technology greatly impact the capabilities of business management systems. The doubling of the number of transistors on each chip that occurs roughly every 18 months reflects the speed of this technology advance. This phenomenon is called ___ .

Moore's law

All the steps required for the HR department to onboard a new employee would be referred to as a business ___.

Process

The 3rd step in business process management provides managers the ability to play the "what-if" game by changing input variables (abstract) decision making. This is the ___ step

Process execution

Managers are able to visualize the entire process and see how each activity interacts with other activities and the business process itself during business ___.

Process management development

Every business function will have a set of business ______ to accomplish the specific goals of the function

Processes

Jira and GanttPro are examples of what kind of software?

Project management (PM) system software

Human resources managers look ahead to determine the future workforce needs of the corporation.

Recruiting and Hiring Software

The business management system seeks to manage a firm's interactions with customers using analytics and data analysis to identify the most valuable customers and target future customers is the customer _________ management system

Relationship

The strategic use of employees to allow organizations to operate efficiently and gain competitive advantage is referred to as human ______ management

Resource

Human resources managers focus on which three of the following?

Scanning the environment to determine future HR needs Recruiting, hiring, training, retaining, compensating, appraising, promoting, reassigning, and firing employees Managing employee grievances, absences, sick days, and paid-time-off days

Select three common features of modern data visualization tools that accompany most business intelligence (BI) systems.

Scroll-over features Dashboard presentation Search capabilities

Wesley has decided to implement a new business management system. What are three advantages of using a Software-as-a-Service (SaaS) solution?

Security concerns are minimized as the SaaS provider undoubtedly has greater resources and expertise in security management than most firms. They are updated by a third-party that has a major financial incentive in ensuring that the software is in compliance with the latest regulations A SaaS solution minimizes initial start-up costs

Which principle of finance states that a dollar in your hand today is worth more than a dollar you will receive in the future because a dollar in hand today can be invested to turn into more money in the future?

TVM (Time value of Money)

Decision-making information system

Works with a limited number of inputs and unknowns to provide managers with a statistical analysis of likely outcomes

Jose's business management system needs to meet very unique needs. He also has a very small IT department. Which business management system should Jose adopt?

a custom, cloud-based solution (PaaS or IaaS).

Managers and management information systems can begin the process of increasing process efficiency by breaking each business process into its constituent ___.

activities

A specific step within a process is called a business ________

activity

Assisting managers by examining large quantities of data and parsing it into usable information is what makes data __ software so valuable in today's business world.

analytics

Along with their pay, HR managers often need to track employee hiring dates, marital status, number of dependents, cafeteria choices, and usage, in order to accurately manage their employees' ___ . For this reason, nearly all firms use a management system to ensure this is done correctly.

benefits packages

Many managers, particularly in smaller firms, use companies such as Zenefits and BenefitFocus to manage their employees' ___.

benefits systems

The technology and processes used to gain intelligent, usable information from applicable databases across the Internet is referred to as ___ .

big data analytics

Because many managers must base decisions on nuanced information, modern ___ software provides not only the probable outcome, but also the degree of likelihood of the outcome.

business intelligence

The use of machinery to assist in employee management began during the late 19th century when time clocks with punch __ were developed to track employee work hours.

cards

To reduce security risks and to facilitate collaboration among the various stakeholders in the project, most project management (PM) systems are located on the

cloud

Integrating database management systems (DBMS) with predictive analytics, to give managers a recommended course of action is the focus of ___

decision-making management information systems.

Kronos Workforce Ready, BambooHR, PerformancePro, and others, provide packages designed to meet the employee ___ needs of smaller firms.

evaluation

Because some tasks can be done concurrently while other tasks are dependent upon the completion of preceding tasks, Gantt charts are constructed using a __.

horizontal bar chart

The first stage of the project management (PM) process, in which project objectives are identified and feasibility studies are conducted is the ___ phase.

initiation

The software and processes that allow organizations to capitalize on the power of big data and predictive analytics is referred to as business ____ (BI)

intelligence

Universal Product Codes (UPC) and Radio Frequency Identification (RFID), combined with database management systems (DBMS), have greatly advanced the performance of ______ management systems

inventory

In the fourth step of business process management, managers track the individual components of the process as well as the process as a whole so that the performance of the engine can be measured. This is called the process __ step.

monitoring

The 2nd stage of the project management (PM) process, which involves meetings with project stakeholders is the ___ phase.

planning

By allowing managers to automate business processes through modeling, analyzing, and improving efficiencies, business ___ management (BPM) systems streamline organizations' activities.

process

Human resources managers need sophisticated software to assist them in making accurate estimates of __, hiring, and training requirements.

recruiting

LeAnn is implementing a new business management system for her firm. She wants to minimize start-up costs and her business's management system needs are similar to many other organizations. LeAnn wisely chooses a Software-as-a. _______ (SaaS) System.

service

Hubspot CRM, Zoho CRM, and Freshsales CRM aim to meet the needs of ___ .

smaller businesses

The best way of implementing a new BI system is to make it as seamless as possible by using ___.

software with which the users (typically first line employees, supervisors, and junior management) are already familiar

As technology improves, the capabilities of, and the demands on, business management systems increase. Select three examples of the impact of advancements in business management systems on the expectations of users.

- A lead contractor views the latest changes to a building blueprint online. - A sales representative observes customer purchases of 15 client stores in real time. - A customer checks the status of his pizza's creation and delivery from his phone

What business management system seeks to streamline an organization's activities to prevent backlogs and inefficiencies?

Business Process Management (BPM)

During the fourth stage of the project management (PM) process, the manager documents the lessons learned during the project's execution. This is called the ___ phase

Closure

The last stage of the project management (PM) process, in which managers document the lessons they learned during the project's execution is the ___ phase.

Closure

To maximize a sale force's efficiency and effectiveness, managers use _____ relationship management systems.

Customer

Documenting employee performance and providing an equitable means of ranking performance.

Employee Evaluation Software

When implementing a new business management system, which option provides managers with the greatest degree of control?

On-Premises Option

Select three methods businesses use to house a business management system.

On-premises custom solution Customized, cloud-based solution (PaaS or IaaS) SaaS solution

Providing estimates of how accurate the re-ordering point and order quantity levels forecast will be (confidence levels), based on historical trends are examples of the efficiencies associated with today's _______ management systems.

inventory

Select three methods businesses use to house a business management system.

- customized, cloud-basaed solution (PaaS or IaaS) - On- premises custom solution - SaaS solution

What is conducted in the process modeling step of business process management?

Analysts use flowcharts and other tools to depict workflow.

Database management system (DBMS)

ChoiceProvides a means of storing and finding information

Inappropriate and inconsistent pay can demotivate the strongest workforce, for this reason, many firms use ___.

Compensation management software

Whether the firm uses primarily hourly, salaried, or independent contractors; ensuring that these employees are paid correctly

Compensation management software

Skyler, an executive, wants to implement a business management system that can be quickly scaled as he anticipates rapidly changing database storage needs. He likes his uniquely developed current system but wants increased security from hackers while decreasing his need for a large IT department. Skyler should choose a ____

Custom Cloud-basaed solution (PaaS or IaaS)

Salesforce remains one of the largest suppliers of ___ software solutions.

Customer Relationship Management (CRM)

Which business management system typically begins by collecting customer information such as email, telephone, and social media data, and then combines this with information regarding the customer's buying habits, so that the management team can better anticipate customer desires?

Customer Relationship Management (CRM) System