MGMT 450

What is legendary GE CEO Jack Welch quoted as saying about competition?

"If you don't have a competitive advantage, don't compete."

Which project management tool is so important that nearly all PM software includes support systems for it, to ensure that all stakeholders are kept informed of a project's status?

A communications plan

Which of the following scenarios represents a customer acquisition cost of $100?

A company spends $100,000 on advertising and marketing in one month. They gain 1,000 new customers in that month.

IBM estimates the U.S. economy loses over $3.1 trillion per year as a result of

Bad data

What does an oval represent on a flowchart?

Beginning and end

Which type of Ad Network is the best offers the least amount of company control to where a company's advertisements are placed, but offers low cost to the company?

Blind

Creating an entirely new market is an example of a ________ ocean strategy.

Blue

What was the original planned name for the company now known as Amazon?

Cadabra

As e-commerce continues to develop, many retailers are likely to maintain some type of "brick-and-mortar" store or physical location primarily because

Consumer expect integrated shopping experiences that include face-to-face options

This dimension of ethical behavior examines how individuals or corporations can be held accountable in case of violations of privacy or intellectual property rights

Control and Accountability

Blank is a small text file left on a website visitor's hard drive that is used to personalize the site for the visitor or track web activities.

Cookie

In terms of information quality, define "relevance" as a factor.

Data to be collected should be useful to the organization.

On the flowchart, a decision point is depicted by a(n)

Diamond

The Act that is important in specifically protecting email and VoIP communications is the

Electronic Communications Privacy Act.

A network chart that displays all the paths to project completion is known as a

Flow chart

What type of decision-making software can identify issues and find and implement solutions at transactional speed?

High-velocity

A sales associate has been hired to write blog posts that will be regularly published on a blog about new beauty products. The blog posts are designed to include the SEO terms that relate to the company's newest skin care product, using the keywords that will also be used in their advertising campaigns. What part of the e-commerce timeline would this be a part of?

Implementation

With the increasing presence of Internet e-commerce sites, the force of customers has

Increased

The question at the center of Simon Sinek's Golden Circle.

Why

The famous mystery house that had no architect.

Winchester

Which of the following best describes a project charter?

a key document that authorizes a project

The Universalist Principle states that

certain moral values should always be upheld.

In a multiple-criteria decision analysis (MCDA), what are you doing when you are identifying available options?

comparing different options in order to determine which are best candidates for measure

Management information systems allow managers to build upon an organization's existing strengths to create

competitive advantages

A bank clerk has inappropriately used a customer's personal email address. The branch manager reprimands the employee and withholds an expected promotion. Which dimension of ethical behavior in the digital age is demonstrated by this disciplinary action?

control and accountability

The Data Management Body of Knowledge (DMBOK) defines the planning, implementation, and control of activities that apply quality management techniques to data as

data quality (DQ).

Deepfake technology raises questions about the ethics of

modifying images or video by replacing one person's likeness with another's.

According to Professor Porter, a business must differentiate itself from its competitors. One method is to encourage customers to believe that an organization provides higher quality goods or better service, then the organization can charge a premium, or gain market share, or (ideally) both. For example, by placing a swoop icon on a sweatshirt, Nike is able to charge a higher price. This methodology is called

monopolistic competition.

What is the basic formula for estimating risk exposure?

multiply risk probability by risk impact

Quantifiable values that validate how effectively an organization is accomplishing significant business objectives are called key

performance indicators (KPIs).

E-commerce ________ includes creating marketing messages that contain the individual's name, appeal to his/her interests, and take their purchase behavior into account.

personalization

The costs that customers incur when they change suppliers.

switching costs

Of the following descriptions, which one accurately applies to slack?

time when one project activity is waiting for another activity

E-commerce ________ is the ability of an organization to create a strong presence among consumers in many places, with minimal time constraints, to sell them products and services.

ubiquity

Online content that has been created and posted by unpaid contributors such as customers or fans of a product or service is referred to as

user-generated

On an e-commerce presence map, what is presence?

websites, email, social media sites, and offline media

Corporate-level managers/executives are responsible for making decisions that impact profitability and the short-term and long-term success of an organization. To get the information they need, managers rely on output provided from

Executive Support Systems (ESS).

Which is the best explanation of why technology is highlighted in a PESTEL analysis?

Failing to keep up with advances in technology can harm an organization's competitiveness.

To assist stakeholders to visualize the project processes, project managers have long used

Flowcharts

Which type of chart commonly used by project managers is a horizontal bar chart that shows project activities on the y-axis and time on the x-axis?

Gantt chart

A company wants to begin monitoring the Internet usage of its office employees to ensure that their working hours are spent productively. What is the least that the company should do to respect its employees' rights to information privacy?

Inform employees of the monitoring and obtain their consent.

The type of text conversion process that is best suited for converting a handwritten invoice to digital text.

Intelligent Character Recognition

Which portion of Gartner's Magic Quadrant identifies those providers with significant market share, robust and scalable solutions, broad features and good distribution?

Leaders

E-commerce transactions that are executed using wireless mobile devices are known as

M-commerce

The National Award for performance excellence, leadership, strategic planning and business performance is:

Malcolm Baldrige Quality Award

It is especially important for startup companies to create and follow a well-designed e-commerce strategy. Which of the following is the last phase in a well-designed strategy?

Mobile Platform Planning and implementation

According to our TED video "The Joy of Shopping", which type of commerce is particularly good at helping online sales in developing countries?

Mobile commerce

UNM's IT portfolio management site, also called a transparency dashboard, is called:

MyIT

Separating administrator high-level privileges into a separate user account, addresses

Privileged Access

Which shape in a common flowchart represents a process or step?

Rectangle

Every project faces limitations, such the amount of available equipment or environmental constraints. To mitigate these limitations, project managers use software that provides

Resource leveling

The triple constraint includes all of the following EXCEPT

Risk

In our Tech Bytes, Nick shared that autonomous vehicles are now being used as "taxis" in this city.

San Francisco

The notion of bringing to the attention of appropriate parties an 'unusual' request for information is called

Spotlighting

This enterprise architectural misstep is also known as kicking the can down the road.

Technical Debt

Which word best describes the nature of projects, given that they have starting points and (hopefully) ending points?

Temporary

Which statement correctly summarizes the role of the project manager (PM) during the execution stage of the project management process?

The PM monitors progress and resources and adjusts the schedule as needed.

The e-commerce company with the highest revenue is based in which country?

The United States

How does a Gantt chart indicate that two activities will be conducted concurrently (at the same time)?

The horizontal bars for each will occupy the same columns (days).

Which of the following statements is true of the value chain?

The value chain includes primary and support activities used to produce a product.

What is the most likely reason that unstructured decisions are typically made by higher-level management?

They require strategic, long-term thinking.

M-commerce is a subset of

Traditional E-commerce

The Act that signed into law to monitor terrorist activities and communications following the 9/11 attacks and the 2001 anthrax attack on Congress is the

USA PATRIOT Act/USA Freedom Act.

Per our discussion, which of the following is a reason projects fail?

Unclear roles and responsibilities.

The principle that states that when faced with an ethical dilemma a manager should choose the option that does the greatest good for the most people involved is called the

Utilitarian Principle.

According to our Tech Bytes discussion led by Adam, this method of multifactor verification is being leveraged more and more by hackers:

Voice call authorization

It is especially important for startup companies to create and follow a well-designed e-commerce strategy. Which of the following is the first phase in a well-designed strategy?

Web Planning

When managers work on strategic objectives, handle conflicts, and allocate budgetary resources to subordinates, what role are they enacting, according to Mintzberg?

decisional

Karl Benz invented the internal combustion automobile in 1885. More than a century before, Adam Smith had described how division of labor creates efficiencies. When Henry Ford set up Model T production on an assembly line in 1908, he combined technology and efficiency to produce an inexpensive automobile. Ford transformed the personal transportation market. Christensen called this process

disruptive innovation

Which of the following actions would violate an organization's prohibitions on the personal use of company computers as well as the law in most countries?

distributing company-owned software without authorization

What is the goal of a project portfolio manager?

ensure that their firm accepts only the right projects

Living a virtuous life involves acting with high morals that are logically defined or shaped by

ethics

While a religious leader may provide guidance on how to uphold high morals, ________ provide the reasons for acting morally.

ethics

Which type of MIS report pinpoints outliers that vary from the norm, such as when a production quota falls below forecasted levels?

exception reports

Over 50 percent of all innovative products fail in the market, while over 80 percent of the successors to the products succeed. This is a key tenet of ________ strategy.

fast-flower

What function allows managers the ability to search data sets for information that is needed for a given decision?

filtering

The first step involved in knowledge management is ________.

identifying the goal of the project

Network effects refer to the _________.

increased value of a product or service because there are more people using it

To address the ethical concerns surrounding ________, many employee handbooks state that the organization must use data responsibly and always respect privacy.

information privacy rights

Music files and video games are examples of what kind of property in the eyes of the law?

intellectual property

Coffee vendors who operate small, drive-up coffee stands find it difficult to charge significantly higher prices than their many competitors do. What aspect of the coffee stand business makes raising prices difficult?

its low barriers to entry

Economies of scale means using

large production or purchasing power.

Which of the measurable outcomes of the balanced scorecard framework focuses on organizational culture?

learning and growth

Built on real-time geodata and information provided from wireless mobile devices, ________ are widely used in m-commerce.

location-based services (LBS)

When conducting a SWOT analysis, an organization's human resource management system is used to evaluate the relative strength or weakness of its

personnel (workforce)

What are the five classical functions of managers as identified by management theorist Henri Fayol?

planning, organizing, coordinating, deciding, controlling

The organizations likely to benefit the most from the global reach of e-commerce are those that

preciously depended on foot traffic into one physical store to sell their products

When competitors seek to gain competitive advantage through price leadership or by making product improvements, Professors W. Chan Kim and Renee Mauborgne would say they are using a(n)

red ocean strategy

Which step of an ethical analysis is designed to enable a manager to obtain guidance or insights from other managers?

searching for precedents

To assist project managers with determining and evaluating potential risk, the project management body of knowledge (PMBOK) identifies ________ processes.

six

Which PESTEL factor can managers monitor by improving communications throughout the organization and gaining better perceptions of consumers' opinions using CRM software?

sociocultural

Coca-Cola and PepsiCo dominate the soft drink market. However, during the 2000s, many customers switched from soft drinks to water, causing Coca-Cola and PepsiCo to develop Dasani and Aquafina. The ability of customers to switch from one product to an alternate product illustrates what Porter called the force of

substitutes.

Apple uses Corning's glass products for all its devices, such as the Gorilla Glass 6 used in the iPhone 11 series. To ensure that it continues to have a strong relationship with this glass industry leader, Apple has invested nearly $500 million toward Corning's advanced glass research division. By building up this relationship, Apple seeks to maintain some control over which of Porter's 5 forces?

suppliers

What is a main component of the belief action outcome framework (BAO) that organizations provide to address the economic, environmental, and social impacts that result from their day-to-day operations?

sustainability reports

Which law or set of laws was created to implement two World Intellectual Property Organization (WIPO) treaties and to update copyright laws regulating digital material?

the Digital Millennium Copyright Act (DMCA)

Which principle of ethical conduct calls for allocating rewards equitably according to individuals' productivity?

the Principle of Distributive Justice

Which of the following best describes the term scope creep?

the way in which project features are added in an uncontrolled way

What is a company that purchases consumer behavior information from other organizations engaged in?

third-party data purchase

In the Five Whys, why is it important to continue to ask why after asking why the problem occurred?

this will help you understand the root cause of the problem, not just a surface issue that may have arose