MGT 487 Week 1

Which of the following represents businesses buying from and selling to each other over the Internet?

B2B

Who is responsible for ensuring the security of business systems and developing strategies and safeguards against attacks by hackers and viruses?

CSO

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.

What is the difference between ecommerce and ebusiness?

Ecommerce is buying and selling of goods or services online; ebusiness includes ecommerce and all activities related to internal and external business operations.

What is the Internet of Things?

a world where interconnected, Internet-enabled devices or "things" can collect and share data without human intervention

Review the following key terms. Which one defines an operational decision that involves situations where established processes offer potential solutions?

structured decision

Porter identified three generic strategies that a business could follow after identifying a market it wanted to enter. Which of the following is not included as one of Porter's three generic strategies?

supplier cost differentiation

Which of the following produces an improved product customers are eager to buy, such as a faster car or larger hard drive?

sustaining technology

What are costs that make customers reluctant to switch to another product or service?

switching costs

At which level will a manager use analytics to make decisions?

All are correct

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 are correct

What are the four most common Business 2.0 characteristics?

All are correct

What does business process reengineering assume about the current process?

All are correct

What is the characteristic of unstructured data?

All are correct

Which of the following describes structured data?

All are correct

What is the ebusiness model that applies to customers offering goods and services to each other over the Internet?

C2C

Who is responsible for overseeing all uses of MIS and ensuring that MIS strategically aligns with business goals and objectives?

CIO

Trina Hauger works for Johnson Electric as a corporate lawyer, and part of her duties are to ensure the ethical and legal use of information within the company. Which of the following represents Trina's role at Johnson Electric?

CPO

In terms of big data, what is variety?

includes different forms of structured and unstructured data

Which of the following is a type of effectiveness MIS metric?

usability

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

value chain analysis

What is a value chain analysis?

views a firm as a series of business processes, each of which adds value to the product or service

What is a model that represents the current state of the operation without any specific improvements or changes to existing processes?

As-Is process model

What is the difference between the As-Is process model and the To-Be process model?

Both process models determine when to solve the problem.

Which of the following statements is accurate?

Critical success factors can have several key performance indicators.

What are the three primary areas of analytics?

Descriptive analytics, predictive analytics, prescriptive analytics

What is the basic business system that serves the operational level and assists in making structured decisions?

transaction processing system

Which one of Porter's five forces is high when it is easy for new competitors to enter a market and low when there are significant entry barriers to joining a market?

threat of new entrants

What is included in a SWOT analysis?

Strengths, weaknesses, opportunities, and threats

What are descriptive analytics?

Use techniques that extract information from data and use it to predict future trends and identify behavioral patterns

What is a pure-play business?

a business that operates only on the Internet without a physical store

What is big data?

a collection of large, complex datasets, including structured and unstructured data, which cannot be analyzed using traditional database methods and tools

What is a competitive advantage?

a feature of a product or service on which customers place a greater value than they do on similar offerings from competitors

Gina Brooks works for Aquarium Retail Services selling high-end salt water fish and tank supplies. Aquarium Retail Services is the current market leader in Gina's city. Gina has recently been approached by Deep Blue Incorporated with an opportunity to run its corporate nation-wide marketing and sales division. Gina decides to jump at the opportunity. Deep Blue is attempting to gain a competitive ________ by stealing its competitor's key employees

advantage

What is crowdsourcing?

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

Which of the following is a not a type of organizational information system?

analysis processing system

What encompasses all organizational information and its primary purpose is to support the performance of managerial analysis or semistructured decisions?

analytical information

What are Porter's three generic strategies?

analyze the competitive forces within the environment in which a company operates to assess the potential for profitability in an industry.

What is open source?

any software whose source code is made available free for any third party to review and modify

What is the Internet protocol web browsers use to request and display web pages using universal resource locators?

hypertext transport protocol (HTTP)

Which of the following identifies Business 2.0 communication and collaboration tools?

blogs, wikis, mashups

What is a standardized set of activities that accomplishes a specific task?

business process

Which of the following should a business follow for success?

business processes should drive technology choices.

What are the four main types of ebusiness models?

business-to-business, business-to-consumer, consumer-to-business, and consumer-to-consumer

What is the process of collecting, analyzing and reporting aggregate data about which pages a website visitor visits—and in what order?

clickstream analytics

Which of the following is NOT considered a core driver of the information age?

competitive facts

What is the process of gathering information about the competitive environment, including competitors' plans, activities, and products, to improve a company's ability to succeed?

competitive intelligence

Which of the following does not represent a category of AI?

consolidation

Which of the following tracks the number of customers an organization "touches" for the first time and persuades to purchase its products or services?

conversion rates

According to Porter, companies that wish to dominate broad markets should operate using a ________ strategy.

cost leadership with a low cost

What are the crucial steps companies perform to achieve their goals and objectives and implement their strategies?

critical success factors

What type of processes includes order processing, customer service processing, sales processing, customer billing processing, and order shipping processing?

customer-facing processes

What is information?

data converted into a meaningful and useful context

What is social tagging?

describes the collaborative activity of marking shared online content with keywords or tags as a way to organize it for future navigation, filtering, or search

Which of the following is considered an operational decision or structured decision?

determining how many employees are out sick

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 middleman?

disintermediation

What could a manager use to measure the success of an MIS project?

effectiveness MIS metrics, efficiency MIS metrics

What type of metrics measure throughput, transaction speed, and system availability?

efficiency MIS metrics

What creates the illusion that a large number of potential customers are clicking the advertiser's links, when in fact there is no likelihood that any of the clicks will lead to profit for the advertiser?

hitbots

In terms of big data, what is velocity?

includes the analysis of streaming data as it travels around the Internet

What form of processes include loan processing for a bank, claims processing for an insurance company, reservation processing for a hotel, and baggage handling for an airline?

industry-specific customer-facing processes

What is business intelligence?

information collected from multiple sources that analyzes patterns, trends, and relationships for strategic decision making

What measures the number of people a firm can communicate with all over the world?

information reach

What are measurements that evaluate results to determine whether a project is meeting its goals?

metrics

Which of the following are included as potential external weaknesses in a SWOT analysis that are harmful to an organization?

new entrants, substitute products, shrinking markets, costly regulatory requirements

Which of the following is not considered a category within the support value activities in a value chain analysis?

outbound logistics

What generates revenue each time a user clicks on a link to a retailer's website?

pay-per-click

What extracts information from data and uses it to predict future trends and identify behavioral patterns?

predictive analytics

Which of the following represents procurement as part of the support value activities in a value chain analysis?

purchases inputs such as raw materials, resources, equipment and supplies

Which of the following represents the structure of a typical organization?

pyramid

Which of the following is considered data?

quantity sold

What combines art along with science to determine how to make URLs more attractive to search engines, resulting in higher search engine ranking?

search engine optimization

What occurs in situations in which a few established processes help to evaluate potential solutions, but not enough to lead to a definite recommended decision?

semistructured decisions

At which level do managers develop the overall business strategies and monitor the performance of the organization and the competitive business environment?

strategic level

Which of the following represents a business-facing process?

strategic planning

Many social media websites use ________ or specific keywords or phrases incorporated into website content for means of classification or taxonomy.

tags