MIS practice quiz

The concept of _________ refers to information collected from multiple sources such as suppliers, customers, competitors, partners, and industries, used to analyze patterns, trends, and relationships for decision making.

Business intelligence

The term attribute refers to a ___________ of a table.

Column

McDonald's strategy enables the company to sustain its market leadership. As the biggest fast food restaurant chain in the world, McDonald's strategy involves minimizing costs to offer products to a broad market at low prices. What is McDonald's business strategy?

Cost leadership strategy

2. Common departments in an organization

Accounting, Finance, Human Resources, Marketing, Operations Management, Sales

One advantage of databases is their ability to easily meet growth and complexity requirements. This is referred to as _____.

Scalability

The following are functions of a DBMS except ________

Creating and processing spreadsheets

Foreign key can be null

TRUE

Accounting

i. "Records, measures, and reports monetary transactions. "

The MacDonald's fast food chain was experiencing slow growth in 2017 because of over saturation of MacDonald's outlets across North America. They decided to move ahead to increase growth in their organization by diversifying into the hotel industry. The decision by McDonald's to build hotels was a topic of discussion in several practitioner publications, including Harvard Business Review The organization's efforts to diversify into the hotel industry refer to a(n) ____________ decision made at the _________________ level.

unstructured; strategic

Analytical information is contained within a single business process. This information is:

FALSE

Duplication of data is a disadvantage of a relational database.

FALSE

Information governance is part of information management.

FALSE

Rolls Royce and Rollex are two brands known for high cost and high prices. Focusing on niche consumer markets, they target the rich, the 1% of the population. They are examples of companies that have adopted a _______________ strategy.

High cost focused strategy

The hype around the use of artificial intelligence (AI) in decision-making might make you think it could pilot your company, manage your suppliers, chase late invoices, and open parcels arriving in the mail room, all while making you a nice cup of tea. In practice, AI is a precision tool that should be used judiciously to achieve specific goals. Implementing AI systems takes foresight and vision, along with a healthy understanding of the technology challenges involved. Which of the following is NOT a popular form of AI used in the business arena today?

Middle management

Walmart acquires raw materials using thousands of suppliers that are spread globally. Walmart also applies a code of conduct in its relationship with suppliers. It has focused on managing long term relationships for efficient sourcing and for keeping prices low. The text above addresses which of the five secondary (or support) activities of Michael Porter's Value chain model?

Procurement

This is a standard interactive and programming language for getting information from and updating a database.

Structured Query Language

The National Retail Federation ranks Walmart the world's top retailer in global sales with a "mature supplier collaboration process" supported by technology. Walmart's mammoth purchasing power is leveraged to shape suppliers' behavior to drive down costs. Based on its financial clout and size, Walmart is able to press its suppliers for lower prices. According to the text above, what is the lowest market force against Walmart?

Supplier power

What model includes primary value activities and support value activities and is used to determine how to create the greatest possible value for customers?

The value chain model

Kodak was once the largest supplier of photographic film. With the decline of the photographic film market and the growth of digital imaging, Kodak's performance suffered and the company eventually went bankrupt in 2012. Kodak failed to use IT to fend off which one of Porter's 5 competitive forces?

Threat of substitute products

A value chain includes all the activities involved in the production and sales of a product from the conception and sourcing of raw material to final sales and service. Optimizing the value chain will help increase the profit margin and generate sources of competitive advantage for the business. Is the text above TRUE or FALSE?

True

In a relational database application a ___________________ key is used to link one table with another.

foreign

Value Chain Model, Primary

i. "1. Inbound logistics- acquires raw materials and resources and distributes to manufacturing as required. ii. 2. Operations- transforms raw materials or inputs into goods and services. iii. 3. Outbound logistics- distributes goods and services to customers. iv. 4. Marketing and sales- promotes, prices, and sells products to customers. v. 5. Service- provides customer support after the sale of goods and services"

Finance

i. "Deals with strategic financial issues, including money, banking, credit, invest- ments, and assets. "

Human Resources

i. "Maintains policies, plans, and procedures for the effective manage- ment of employees."

Sales

i. "Performs the function of selling goods or services (see Figure 1.6 ). "

Marketing

i. "Supports sales by planning, pricing, and promoting goods or services."

Value Chain, Secondary

i. "■ Firm infrastructure includes the company format or departmental structures, environ- LO 1.7: Demonstrate how a company can add value by using Porter's value chain analysis. ment, and systems. ii. ■ Human resource management provides employee training, hiring, and compensation. iii. ■ Technology development applies MIS to processes to add value. iv. ■ Procurement purchases inputs such as raw materials, resources, equipment, and supplies. "

Operations Management

i. Manages the process of converting or transforming resources into goods or services