Ch 7 - Business Management Systems (ALA) _MISY_3310

Constructing an office building

Is a project requiring the use of project management software

Select all that apply 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 projected timeline for deliverables is developed. A statement of work or other working agreement is created.

A specific step within a process is called a business ( ).

activity

A key component of how business processes generate value is the concept of division of ( ).

labor

The goal of business process ( ) is to continually increase process efficiency.

management

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

Employee compensation software at major corporations is often included as part of its enterprise resource ( ) (ERP) software suite.

planning

Select all that apply Business management systems need three major components in order to provide the services expected by today's managers. These include:

A predictive information system A decision-making information system A database management system (DBMS)

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

Business Process Management (BPM)

Management information systems because they can be used to communicate, coordinate, and monitor business activities, can be indispensable when it comes to using ___.

Business processes

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

Fraternization policies Dress policies Employment agreements

In the early 20th century, Henry ( ) developed a horizontal bar chart that could be used to visualize a project schedule. Today, his chart is the most widely used tool in project management.

Gantt

Select all that apply 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.

Business Intelligence (BI)

This uses data mining techniques combines and then adds data visualization tools so that managers can make faster, more informed, decisions.

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

database 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

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

making

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

Business intelligence (BI) and associated big data analytics 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

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

Activities

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

Activities are examined and divided into their individual components.

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

Division of labor

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

Employee Evaluation Software

Calculating re-ordering points and order quantity levels are key advantages of modern ___ .

Inventory Management Systems

Computer chips double in computing power roughly every 18 months. This phenomenon is called:

Moore's Law

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

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

Recruiting and Hiring Software

Renting office space in the building

Requires management, but is not a project that would use project management software

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

The business process execution language engine is run.

Visualization tools

These display information in a manner that make it easier for managers to assimilate or to see patterns.

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

modeling

Every business function will have a set of business ( ) to accomplish the specific goals of the function.

processes

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

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 or relations

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

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

Select all that apply 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

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

Dashboard presentation Search capabilities Scroll-over features

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

On-Premises Option

Select all that apply Select three objectives that might typically be accomplished during the closure phase (the last stage) of the project management process.

Stakeholders discuss how closely the project met expectations. All associated contracts are ended. Managers document the lessons they learned during the project's execution.

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

Data mining

This accesses external databases as well as data that the firm has collected itself (internal data).

Predictive analytics

This uses algorithms to determine the most likely outcomes given a set of inputs.

Select all that apply Sara, an executive with McMurtry Management, has decided that her organization needs to update its business management system. What three questions should she consider prior to choosing a system?

Where will the new system be housed? Is the change worth the expense and impact on employee morale? How will the new system interact with existing systems?

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

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

Nearly all BI software platforms have a(n) ___, that displays an overview of the data that is presented.

dashboard presentation

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

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

design

The third step in business process management provides managers with real-time (executable) decision making as well as the ability to play the "what-if" game by changing input variables (abstract) decision making. This is called the process ( ) step.

execution

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

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

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

resources or resource

Mapping and analyzing business processes allows managers to gain control over unwieldy and often chaotic processes, allowing them to focus on creating efficiencies. This is part of ___.

Business process management

Select all that apply 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.

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.

Select all that apply Human resources managers focus on which three of the following?

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

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

The 2nd step of BPM involves the use of flow-charts and other tools to examine decision points and inputs. This step is called:

Process Modeling

Select all that apply Select two objectives that might typically be accomplished during the planning phase (the second stage) of the project management process.

A Gantt chart is created or fine-tuned if one was started during the feasibility study. A meeting with project stakeholders is convened allowing these key players to review the Gantt chart and the project timeline.

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

Big data analytics

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

Compensation Management Software

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

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

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

Match the business management component with its function. 1.Database management system (DBMS) 2.Predictive information system 3.Decision-making information system

1.Database management system (DBMS): -Choice Provides a means of storing and finding information 2.Predictive information system: -Models trends and attempts to predict outcomes 3.Decision-making information system: -Works with a limited number of inputs and unknowns to provide managers with a statistical analysis of likely outcomes

The process of gathering, storing, and searching relevant data is referred to as ___ .

Data science

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).

When did human resources management (HRM) originate?

HR management has existed at least as long as recorded history.

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

Process Monitoring

Select all that apply Select two reasons why senior management should seek buy-in from stakeholders when implementing a new business intelligence (BI) system.

If users find the BI software too cumbersome to use it can lead senior management into making sub-optimal decisions. If users do not understand the process the BI software will unnecessarily waste an organization's resources.

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

recruiting

Select all that apply Select three examples of the impact of advancements in business management systems on the expectations of users.

A manager expects to view changing sales projections from different stores from a computer in her office. Employees expect to make changes to their tax withholding online. Students expect to be able to view a syllabus, from any course, at any time from their phone.