Wright SIT Test 1v1
When you implement an Enterprise software solution like SAP, you want departments like Accounting, Finance and Marketing to:
work interdependently
What includes the tasks, activities, and responsibilities required to execute each step in a business process like the SAP Quote to Cash process?
workflow
What 3 goals/objectives might a leadership plan include to achieve a solid business strategy?
1) Attracting new customers 2) Decreasing costs 3) Increasing sales
What are 3 generic business strategies Porter identified for entering a new market?
1) Broad differentiation 2) Broad cost leadership 3) Focused strategy
What are the three common tools managers use to analyze competitive intelligence and develop competitive advantages.
1) Five Forces Model 2) The three generic strategies 3) Value chain analysis
What are 3 value activities
1) Marketing and sales 2) Outbound logistics 3)Inbound logistics
What are 2 support value activities?
1) Technology Development 2) Firm Infrastructure
What are 3 examples of service?
1) Waiting tables 2) Cutting hair 3) Personal training
Chemical Bank (later acquired by Chase) introduced ATMs as a new banking feature and entry barrier in the year:
1969
What year was netflix started?
1997
What is a pure-play business?
A business that operates only on the Internet without a physical store
What is a competitive advantage?
A feature of a product or service on which customers place a greater value than on similar offerings from competitors
Decision support systems model information using OLAP, which provides assistance in evaluating and choosing among different courses of action. Which of the below does NOT represent an example of a DSS in business?
A manufacturing digital dashboard showing visualizations of inventory and production
What is a business process?
A standardized set of activities that accomplish a specific task such as processing a customer's order
What is google glass?
A wearable computer with an optical head-mounted display (OHMD).
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 examples of...
Acquiring new technology products and services
Managerial decision-making challenges include:
All of the above
At a local marketing firm, Steve is the lead web developer and is responsible for working with customers on their web designs, development, and graphics. Which of the following would be a critical skill Steve must have to be able to perform his job?
All of these are correct
What is the science of fact-based decision making?
Analytics
Technology Development
Applies MIS to processes to add value
A business strategy achieves a specific set of goals, which include...
Attracting new customers and developing new products or services
What is the term for viewing of the physical world with extra computer-generated layers of information added to it?
Augmented Reality
Carfax is an example of a company who sells its products or services directly to its consumer's online. Which ebusiness model is Carfax using?
B2C
a knowledge worker is valued for their ability to analyze information and make decisions from:
BI + personal experience
What question can be answered using info?
Best selling product, best customer, worst selling product
Which of the following is considered information?
Best-selling item by month
Cheryl is the operations manager for Nature's Bread Company, which specializes in providing natural products for health conscience 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 knowledge that Cheryl would be using to successfully perform her job.
Best-selling product changes when Tony the best banker is working.
As companies move from data to knowledge, they start to include more and more variables for analysis, resulting in better, more precise support for...
Both decision making and problem solving
What is CRM?
Both technology and a strategy
Your boss has asked you to analyze the airline industry using Porter's three generic strategies. Which of the following companies are using a differentiation strategy?
British Airways, Singapore Airlines, Virgin Atlantic
Broad functions of a CIO include all of the following except:
Building and maintaining strong customer processes
decision =
Business intelligence + Personal experience
How are the majority of companies today typically organized?
By departments or functional areas
CSFs and KPIs are the two core metrics used within a business to track progress or success. What is the relationship between CSFs and KPIs?
CSF's are business strategy elements, where KPI's measure the progress of CSF's
Who is responsible for ensuring the securities of IT systems and developing strategies and IT safeguards against attacks from hackers and viruses?
CSO
What is responsible for the speed, accuracy, availability, and reliability of the MIS
CTO
Who is responsible for ensuring the throughput, speed, accuracy, availability, and reliability of an org's info technology?
CTO
Competitive intelligence is the process of gathering information about the competitive environment, including...
Competitors' employees, differentiated processes, and plans
Internet marketers must develop ________ to build strong relationships with customers to ensure loyalty.
Consumer trust
What are the four most common Business 2.0 characteristics?
Content sharing through open source, user-contributed content, collaboration inside the organization, collaboration outside the organization
Which of the following is not a valid way that a CRM system can collect info?
Customer's personal computer
What models information and provides assistance in evaluating and choosing among different courses of action?
DSS
the core drivers of the information age include:
Data, Information, Business Intelligence and Knowledge
Which of the following is considered a managerial decision or semistructured decision?
Determining the best customers by region
Which of the following terms implies that organizations that cannot adapt to the new demands placed on them for surviving in the information age are doomed to extinction?
Digital Darwinism
What tracks KPIs and CSFs by compiling information from multiple sources and tailoring it to meet user needs?
Digital Dashboard
What occurs when a business sells directly to the customer online and cuts out the middle man?
Disintermediation
Keith did a demo of which organic food company site, where you can see what country/farm your food came from?
Dole Organic
URLs use ________ to identify particular websites.
Domain names
Decision making at the executive or strategic level requires business intelligence and knowledge to support the uncertainty and complexity of the business. What is a specialized DSS that supports senior-level executives and unstructured decisions requiring judgment, evaluation, and insight?
EIS
How does a DSS typically differ from an EIS?
EIS requires data from external sources to support unstructured decisions; DSS typically use internal sources to support semistructured decisions
Which of the following represents the top-down (executives to analysts) organizational levels of information technology systems?
EIS, DSS, TPS
What type of metrics measure customer satisfaction?
Effectiveness MIS metrics
What is drill-down capability?
Enables users to get details, and details of details, of information
Which issues concerns CIOs the most?
Enhancing customer satisfaction
Susan teaches many individuals and business professionals how, why, and the benefits and challenges to using social media. Of the four ebusiness challenges which of the following is the most crucial challenge to consider before engaging in social media?
Ensuring consumer protection
What is the key word in ERP?
Enterprise
What are the principles and standards that guide our behavior toward other people?
Ethics
Which two terms are confirmed or validated with a fact?
Event and Object
What gives a person the legal right to use copyrighted material in certain situations?
Fair use doctrine
A sustaining technology is a new way of doing things that initially does not meet the needs of existing customers.
False
Closed source is an online marketing concept in which the advertiser attempts to gain attention by providing content in the context of the user's experience in terms of its content, format, style, or placement.
False
Intermediaries occur when a customer sells directly to another customer online cutting out the intermediary.
False
Job titles, roles, and responsibilities do not differ from org to org.
False
Knowledge workers are individuals valued for their ability to mitigate risk and implement critical human resource rules and regulations.
False
Managing consumer trust is not a challenge for ebusinesses participants as the Internet has numerous security technologies in place to completely protect consumers and their online transactions.
False
What is included in feedback for a car's system
Gas
How can companies reduce buyer power?
Loyalty programs, which reward customers based on their spendings.
What would Jeff Bezos, the Chairman and CEO of Amazon be constantly benchmarking?
MIS Efficiency and MIS Effectiveness
MIS can be an important enabler of business success and innovation. Which of the following statements is accurate when referring to MIS?
MIS is a valuable tool that can leverage the talents of people
What is typically performed by the sales and marketing department?
Maintaining transactional data
What is not considered a core driver of the information age?
Malware
At which level of an organization are employees continuously evaluating company operations to hone the firm's abilities to identify, adapt to, and leverage change?
Managerial Level
What is a person or group that has an interest or concern in an organization?
Stakeholder
Which of the following represents a brick-and-mortar business?
T.J.Maxx
What is the basic business system that serves the operational level and assists in making structured decisions?
TPS
Identifying competitive advantages can be difficult and explains why they are typically...
Temporary
Which of the following is not correct?
Tesla's primary focus is house batteries
What are the three primary types of management information systems available to support decision making across the company levels?
Transaction processing systems, decision support systems, executive information systems
A few examples of ebusiness advantages can include opening new markets, reducing costs, and expanding global reach.
True
According to Porter it is recommended to adopt only one of the three generic strategies.
True
Benchmarks are baseline values the system seeks to attain.
True
Business 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.
True
Disruptive and new technologies typically cut into the low-end of the marketplace and eventually evolve to displace high-end competitors and their reigning technologies.
True
FedEx created a first-mover advantage by developing its customer self-service software, which allows people to request parcel pickups, print mailing slips, and track parcels online.
True
It is not uncommon to find stakeholders' business strategies have conflicting interests such as investors looking to increase profits by eliminating employee jobs.
True
Pay-per-conversion generates revenue each time a website visitor is converted to a customer.
True
The chief technology officer is responsible for ensuring the speed, accuracy, availability, and reliability for MIS.
True
The threat of substitute products or services refers to the power of customers to purchase alternatives.
True
The three Business 2.0 communication and collaboration tools a business can use to harness the power of people include blogs, wikis, and mashups.
True
On the graph depicting the interrelationships between efficiency and effectiveness, where does an org ideally want to operate?
Upper right-hand corner
Which term is used to describe the ease with which people perform transactions and/or find info?
Usability
What is one of the most common ways a company can decrease supplier power?
Use MIS to find and create alternative products
Which type of ebusiness marketing technique induces websites or users to pass on a marketing message to other websites or users, creating exponential growth in the message's visibility and effect?
Viral marketing
Which of the below would NOT be considered a company operating in the long tail of a typical sales curve?
Walmart
Your Professor, Dr Pepper 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?
Walmart negotiates a lower cost per bottle from Coke in exchange for premium shelf space in every Walmart store
your boss has asked you to analyze the music industry using Porter's five forces model. Which of the following represents a threat of a new entrant in the soft drink industry?
Zevia Natural diet soda begins selling directly over the internet
what represents the structure of a typical organization
a pyramid
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
all of the above
Frito-Lay has its sales representatives go into grocery stores with iPads to record competitor
all of the above
Which of the following is a potential feature of a digital dashboard
all of the above
Which of the following represents why competitive advantages are typical temporary?
all of the above (hire key employees, duplicate business operations, new tech)
An Executive Information System (EIS) including Tableau software, supports senior level executives to:
all the above
information systems:
are key business enablers
What is the term for the most successful solutions or problem-solving methods that have been developed by a specific organization or industry?
best practices
mission statements =
business + technology
Information technology can enable departments to more efficiently and effectively perform their core _____________.
business operations
A leadership plan to fulfill business goals is called a _______.
business strategy
which of the following is not a typical way that a company would duplicate a competitive advantage?
carrying large product inventories
Keith described WEB 2.0 as being characterized by new qualities such as:
collaboration, sharing, free
Polaroid and Blockbuster were used as examples to demonstrate:
companies operate in competitive environment
Which of the below does NOT represent a category of AI?
consolidation
Which of the following does NOT represent a category of AI?
consolidation
What is the difference between customer-facing processes and business-facing processes?
customer facing processes are front office processes, business facing processes are back office processes
In early 2000, Steve Jobs was fixated on developing video editing software, when he suddenly recognized Sean Parker, Napster and the trend toward using computers to listen to music. Jobs moved fast:
developing Itunes in 4 months
Which of the following represents the types of data commonly found in the human resources department
employee data
what represents the types of data commonly found in the human resources department?
employee data
what is drill down capability?
enables users to get details, and details and details, of information
your boss kanye has asked you to analyze the music industry using Porter's five forces mode. What represents supplier power in music industry?
established record labels like EMI, Sony, Universal
Which of the following are included as potential external opportunities in a SWOT analysis that are helpful to an organization
expanded product line, increase in demand, new markets, new regulations
What is a system that uses computerized advisory programs to imitate the reasoning processes of experts like Doctors in solving difficult problems?
expert system
Which of the following is the most commonly used form of AI in the business arena?
expert system
Companies operate in competitive environments. The four "FANG" stocks were among the biggest competitive winners of 2015. This acronym refers to the following four stocks:
facebook, amazon, netflix, google
Which industry has been relying on neural network technology for over two decades?
finance
A loyalty program which rewards customer spending is designed to:
reduce buyer power
In early 2000, Steve Jobs was fixated on developing video editing software, when he suddenly recognized Sean Parker, Napster and the trend toward using computers to listen to music. Jobs moved fast, developing itunes in __________ months
four
What uses technology allowing humans to interact with a computer through bodily sensations and movements-for example, a cell phone vibrating in your pocket
haptic interface
companies operate:
in competitive environments
Assume you are in the business of producing and selling hamburgers. If you could produce more hamburgers with the same input, what would happen to your productivity and profits; assuming the price of your hamburgers remains the same
increase in productivity, increase in profits
strengths and weaknesses originate __________ an organization
inside
Which of the following offers an example where Porter's five forces are mostly weak and competition is low?
international hotel buying milk
Apple achieved competitive advantage with a chronological string of new products including:
itunes, ipod, iphone, ipad, apple watch
Critical success factors can have several ____________.
key performance indicators
Which of the following are included as potential internal weaknesses in a SWOT analysis that are harmful to an organization?
lack of strategic direction, obsolete technologies, lack of managerial talent, outdated product line
When you look at a typical value chain, most of the value added comes from?
making the product or service
What are measurements that evaluate results to determine whether a project is meeting its goals?
metrics
What is a simplified representation or abstraction of reality such as an EMS ambulance requirement representation for a city
model
Key Performance Indicators or KPIs are _____ specific than Critical Success Factors.
more
Steve Jobs moved fast with his portable music player, rapidly developing the first iPod device that could hold thousands of songs in ______ months
nine
Jay owns and operates one of the most successful local coffee shops...... What is Jay trying to create with his unique "Free Pound of Coffee" marketing program?
reducing buyer power with a loyalty program
who founded netflix
reed hastings
What occurs in situations in which a few established processes help to evaluate potential solutions, but not enough to lead to a definite recommended decisions?
semistructured decisions
What is intelligent agent software that will search several retailers' websites and provide a comparison of each retailer's offerings, including prices and availability?
shopping bot
At which level do managers develop the overall business strategies and monitor the performance of the organization and the competitive business environment?
strategic
Jay Wright works at a high-power investment firm in Manhattan. Jay is responsible for promoting the firm's vision and creating the company-wide goals and strategies. He also monitors the overall strategic performance of the company and its direction for future business strategies. At what level of the organizational pyramid would you categorize Jay?
strategic
Which of the following represents a business-facing process?
strategic planning
Decision Making and problem solving occur at each level in an organization including
strategic, managerial, operational
Walmart used business intelligence to analyze patterns and learned that when a storm is approaching Florida, people purchase more:
strawberry poptarts and beer
With Michael Porter's five forces model:
strong forces increase competition
Review the key terms below. Which one defines an operational decision that involves situations where established repetitive processes offer potential solutions?
structured decision
Which one defines an operational decision that involves situations where established repetitive processes offer potential solutions?
structured decision
Greg works for Wright 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?
operations management
Which of the following statements is correct when considering a SWOT analysis
opportunities and threats originate outside an organization
Business Process Reengineering or BPR looks at:
overhaul from scratch
The generic strategy of low cost + narrow market is used by?
payless shoes
Polaroid had a unique competitive advantage for many years until it missed which trend or trends?
people taking digital pictures
Managers use _______ to decide what new flavors of sports drinks or potato chips to introduce
predictive analysis
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?
product differentiation
If you were thinking about a washing machine as a system, which of the following represents the inputs?
the dirty clothes, water, and detergent
if you were thinking about a washing machine as a system which of the following represents the
the light indicating that the washer has finished
Updating business strategies is a continuous undertaking as internal and external environments ________.
rapidly change
If you were thinking about an oven as a system, which of the following represents the process?
the oven running at 350 degrees for 20 minutes
Data collection, solution generation, and solution implementation are all concepts associated which of the following processes?
the six-step decision process
What is the primary goal of using As-Is and To-Be process models
to determine what the problem is and then solve the problem
Which of the following is an example of information?
what is my worst selling product
Most companies are typically organized by departments or functional areas. Which of the following is not a common department found in a company?
Payroll
Your Professor, Dr. Pepper has asked you to analyze the soft drink industry using Porter's five forces model. Which of the following represents supplier power in the soft drink industry?
Pepsi requires stores that carry pepsi products to commit to minimum orders of 1000 cases
Cooking a patty and putting the ingredients together are included in which category of making a hamburger?
Process
Which of the following is an incorrect enterprise view of information technology?
Processing is OLTP for executives and OLAP for analysts.
What is the process that where a business takes raw materials and processes them or converts them into a finished product for its goods or services?
Production
Which of the following is considered data?
Quantity sold
What indicates the earning power of a project?
ROI
Data
Raw facts that describe the characteristics of an event or object.
Callie Crystal owns and operates one of the most successful local coffee shops in Denver, called The Edgewater Café. Each time a customer their 100th cup of coffee they receive a pound of free coffee of their choice. What is Callie attempting to create with her unique "Free Pound of Coffee" marketing program?
Reducing buyer power with a loyalty program
If a supplier has high power what can it do to influence its industry
Charge higher prices. Shift costs to industry participants. Limit quality or services.
The ____ oversees all uses of IT and ensures the strategic alignment of IT with business goals and objectives
Chief Information Officer CIO
Susan is an executive at Equity Title where she is responsible for collecting, maintaining and distributing knowledge for the company. What is Susan's role at Equity Title?
Chief Knowledge Officer (CKO)
Jeremy is an executive for Wright Web Designs, where his primary role is to ensure the security of business systems and develop strategies to protect the company from online viruses and hackers. What is Jeremy's role within the company?
Chief Security Officer (CSO)
What are three examples of goods?
Clothing, groceries and cars
Which of the following is not a topic associated with the information age?
College statistics for data
A transaction processing system (TPS) is the basic business system that assists operational level analysts when making structured decisions. Which of the following is NOT an example of a TPS?
Comfort Dental patient diagnosis system
All of the following are common tools used in industry to analyze and develop competitive advantages, except _________.
Competitive analysis strategy
What is an example of a wearable computer with an optical head-mounted display (OHMD)?
Google glass
Which group of stakeholder's primary interests include adhering to regulations/laws, increasing employment, and ethical taxation reporting?
Government
What is true about IT and business?
IT enables business success and motivation
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 to find other college students who need to purchase laptops. Soon, Kevin's FB 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?
Increasing buying power
What is a broad term encompassing the protection of info from accidental or intentional misuse by persons inside or outside an org?
Information security
Which four elements are included in systems thinking?
Input, process, output and feedback
What is enterprise-wide resource planning?
Integrates all departments and functions throughout an org into a single IT system so that employees can make decisions by viewing enterprise-wide info on all business operations
How does the text recommend that a company operate if it wants to be successful in the information age?
Interdependently between departments
MIS can be an important enabler of business success and innovation. Which statement is accurate when referring to MIS?
Is a valuable tool that can leverage the talents of people who know how to use and manage it effectively.
The quantifiable metrics a company uses to evaluate progress toward critical success factors are called:
Key performance indicators
Jay Wright is the marketing manager for the National Basketball Association. Jay analyzes and tracks his marketing campaigns to determine the best success rate per project for increasing ticket sales. Jay uses an internal KPI to track his marketing campaign success. Which of the below would be an internal KPI Jay would use to track his marketing campaigns?
Marketing campaign ROI
When a company like Tesla 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 ____________.
Microsoft - Bing Search Engine
Which company follows a generic strategy of high cost + broad market?
Neiman Marcus
Which company was used as an example of a content provider?
Netflix.com
Which category of AI is used extensively in the finance industry to analyze situations like loan applications or credit card fraud where the logic or rules are unknown?
Neural network
John Cleaver is the CEO of Tech World, which is a retail store that sells computers, monitors, cameras, TVs and many other electronic products. John and his executive team are meeting to brainstorm new ideas on how to grow the business. One idea is to mimic a competitor's product that is attempting to sell a new product in a different industry. After performing a Porter's Five Forces analysis, John determines that all the forces are high in this new industry. What should John do?
Not introduce the product because all 5 forces are strong and this would be a highly risky business strategy.
Which of the following is a type of metric based on website data?
Number of: visits to a website, abandoned registrations, abandoned shopping carts
If a company recommended products based upon your purchase history and likes in social media, they would be using?
OLAP - online analytical processing
what is the manipulation of information to create business intelligence in support of strategic decision making?
OLAP - online analytical procession
What is crowdsourcing?
Refers to the wisdom of the crowd.
What occurs when steps are added to the value chain as new players find ways to add value to the business process?
Reintermediation
What are the three phases in the evolution of CRM?
Reporting, analyzing, predicting
Which of the below represents an internal KPI that indicates the earning power of a project?
Return on Investment
What type of metrics includes number back order, customer order promised cycle time, and customer order actual time?
SCM metrics
What is crowdfunding?
Sources capital for a project by raising many small amounts from a large number of individuals, typically via the Internet.
What is the top level of decision making, where unstructured decisions like introducing a new PowerWall are made?
Strategic
Which of the following statements is correct when considering a SWOT analysis?
Strengths and weaknesses originate inside an organization
Martin Shkreli is on the executive board..the company produces a number one selling product
Supplier power
Which of the following represents a typical supply chain?
Suppliers-Company-Customers
What is business process reengineering?
The analysis and redesign of workflow within and between enterprises
Which of the following is a reason why competitive advantages are typically temporary?
The competitor: hiring your key employees, seeking ways to duplicate your business operations, acquiring new technology
What does supply chain management involve?
The management of information flows between and among stages in a supply chain to maximize total supply chain effectiveness and profitability
Which of the following is included in Porter's Five Forces Model?
The power of competitors
Which of the following is a tool a manager can use to analyze competitive intelligence and identify competitive advantages?
The three generic strategies
What is the primary goal of using As-Is and To-Be process models?
To determine what the problem is and then how to solve the problem
What is the purpose of business process reengineering?
To make all business processes the best-in-class
Which of the following provides an example of info
What is my worst selling product?
Which of the below represent the four main DSS analysis techniques?
What-If Analysis, Sensitivity Analysis, Goal-Seeking Analysis, Optimization Analysis
Which represent the four main DSS analysis techniques?
What-If Analysis, Sensitivity Analysis, Goal-Seeking Analysis, Optimization Analysis
Clay Christensen wrote a book called the Innovator's dilemma and articulated that managers today must:
Win today and plan for tomorrow's success (both of the above)
Which of the following is not a technology company but used technology to revamp the business process of selling shoes
Zappos
Paula is the owner and operator of The Exchange, a high-end 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?
to help Paula evaluate the attractiveness of the clothing industry
Which of the following is not considered a core driver of the information age
variables
Howie Long loves playing a game called World of Warcraft where he has the capability to create his own character and even his own life-like environment. Into which AI system would you categorize World of Warcraft?
virtual reality
What produces graphical displays of patterns and complex relationships in large amounts of data?
visualization
who started waste management and then blockbuster video
wayne huizenga
