MIS 325 Exam 1

What are the two main categories in a value chain analysis?

Primary Value activities and Support Value activities

What is the process where a business takes raw materials and processes them or converts them into a finished product for its goods or services

Production

What is the rate at which goods and services are produced based upon total output given total inputs

Productivity

MIS can add value to both primary activities and support activities in the value chain. Which of the following is not an example of a company adding value by the use of MIS in a primary activity?

Scotttrade Corp. creating an online system for employees to track paychecks, benefits, wellness rewards program, and other employee benefit items

Identifying competitive advantages can be difficult and explains why they are typically

Temporary

Who is responsible for ensuring speed, accuracy, availability, and reliability of the management information systems

Chief Technology Officer

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

The As-Is process model begins with what the process problem is, and the To-Be process model displays how the problem will be solved

What can a manger use a model to do?

-Calculate Risk -Change Variables -Understand uncertainty

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

Which of the below would you include as decisions and responsibilities typically found at the operational level of a company?

-Develop core business activities required to run the Day-to -Day operations -Control Core business activities required to run the Day-to-Day operations -Maintain Core Business activities required to run the Day-to-Day operations

Why do students need to study information technology

-IT is everywhere in business -IT is frequently discussed in business -IT is frequently used in organizations

Knowledge includes the skills, experience, and expertise coupled with information and ______ that creates a person's intellectual resources

-Intelligence

The sales department needs to rely on information from operations to understand _____

-Inventory -Customer Orders -Demand Forecasts

Which of the below would you include as decisions and responsibilities typically found at the managerial level of a company?

-Monthly Plans -Monthly Budgets -Weekly Schedule

Business Intelligence is information collected from multiple sources. Which of the following provides and example of a source that would be included in business intelligence?

-Suppliers -Customers -Competitors

Which of the following represents a reason why competitive advantages are typically temporary

-The competitor will hire away your key employees - The competitor quickly seeks ways to duplicate your business operations -The competitor will purchase new tech

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?

-Who are my best customer's? -What is my best-selling product? -What is my worst-selling product?

Which of the following offers an example where Porter's Five Forces are most string and competition is high

A dog walking business

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

Which of the below is a customer-facing process?

Communicating with customers

Which of the below is not considered a challenge facing most managers today?

Artificial intelligence is required by all managers to be successful

What is the process of computerizing manual tasks, making them more efficient and effective and dramatically lowering operational costs?

Automation

Which of the following is considered information?

Best-Selling Item by month

Cheryl Steffan is the operations manager for Nature's Bread Company, which specializes in providing natural products for health conscious 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 the type of information Cheryl would be using to successfully perform her job?

Best-selling product by day

Cheryl Steffan is the operations manager for Nature's Bread Company, which specializes in providing natural products for health conscious 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 baker is working

What occurs when resources reach full capacity and cannot handle any additional demands limiting throughput and impeding operations?

Bottlenecks

What is the system that focuses on evaluating and improving the processes that include both person-to-person workflow and system-to-system communications?

Business Process Management (BPM) systems

Sarah Schin was recently hired by Bank West as the Global Director of Human Resources. Her job duties include determining employment policies as well as overseeing all hiring, firing, and training of employees. What type of processes does Sarah's new job demonstrate?

Business-Facing Process

Information Technology can enable departments to more efficiently and effectively perform their core ___________

Businesss Operations

Who is responsible for ensuring the ethical and legal use of information within a company?

Chief Privacy Officer

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

Efficiency MIS metrics

How does the text recommend that a company operate if it wants to be successful in the information age?

Interdependently between departments

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

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 boss, Kerry Miller, 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 1,000 cases

Key performance indicators are the metrics a company uses to evaluate progress toward critical success factors. Which of the below represents a key performance indicator?

Percentage of help desk calls answered in the first minute

Which of the following analyzes a company's business processes and is useful for determining how to create the greatest possible value for customers?

Value Chain Analysis

Your boss, Kerry Miller, has asked you to analyze the soft drink industry using Porter's Five Forces model. Which of the following represents a substitute product in the soft drink industry? A. Pepsi requires stores that carry Pepsi products to commit to minimum orders of 1,000 cases. B. Walmart negotiates a lower cost per bottle from Coke in exchange for premium shelf space in every Walmart store.

Vitamin Water, Fruit Juice, Coffee

What includes the tasks, activities, and responsibilities required to execute each step in a business process?

Workflow

Your boss, Kerry Miller, has asked you to analyze the soft drink 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

Which of the following is not a technology company but used tech to revamp the business process of selling books

Amazon

Which of the following is not a typical way that a company would duplicate a competitive advantage

Carrying large product inventories

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

Cost leadership with a low cost

Cheryl Steffan is the operations manager for Nature's Bread Company, which specializes in providing natural products for health conscious 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 a piece of data Cheryl would be using to successfully perform her job?

Craig Newmark is customer number 15467

CSFs and KPIs are two core metrics used to evaluate results and measure the progress of a project for a business. Which of the below represents the acronyms for CSF and KPI?

Critical Success Factors and Key Performance Indicators

What is information?

Data converted into a meaningful and useful context

Which does not represent an example of a structured decision?

Deciding to enter a new market

The Victory Wireless store in Denver is currently offering a fabulous marketing strategy for potential new iPhone customers. Victory Wireless offers customers who purchase an iPhone with a 2-year subscription, a free Otter phone case, car charger, ear phones, and speakers. In terms of Porter's Five Forces what is Victory Wireless attempting to achieve with this marketing strategy?

Decrease buyer power

Greg Provenzo owns and runs a Blockbuster video store. Greg is implementing a drive-thru rental process that is the same as you would find at a fast food restaurant. Customers can pick-up and drop-off their videos without leaving their cars. Greg's new system has become so popular that Videos Plus, a competitor down the street, is attempting to recreate Greg's video drive-thru rental process. Greg's system is an example of a _________.

First-mover advatage

What refers to the level of detail in the model or the decision-making process?

Granularity

Which of the following statements are true?

IT enables business success and innovaion

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 beings a Facebook group finding other college students who need to purchase laptops. Soon, Kevin's Facebook 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?

Increased Buyer Power

Which of the below is an example of a critical success factor

Increased Customer Satisfaction

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 process

What is business intelligence?

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

What would a company like eBay or Amazon be constantly benchmarking?

MIS efficiency and MIS effectiveness

Which of the following offers an example of a company operating in a narrow-focused market operating as the low-cost provider

Payless Shoes

. When a company 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

What is a simplified representation or abstraction of reality?

Model

The local florist in town is Cheryl Steffan who has been in business for over 20 years. Recently, Cheryl has noticed several complaints about delivery errors. Cheryl decides to investigate the errors in her business delivery process and finds that most of the inaccuracies occur during order taking. Cheryl decides to implement an electronic ordering system to help improve order efficiency and effectiveness. What method did Cheryl follow to solve her delivery issues?

Model the As-Is process, fixed the errors, and then created the To-Be process

If a business is following a focused strategy then its competitive scope is ______

Narrow Market

MIS can add value to both primary and support activities within a business. Which of the following is not an example of a company adding value by the use of MIS in a support activity?

Netflix creating a business strategy for the video rental market that deliveries videos via the mail

John Cleaver is the CEO of Tech World, which is a retail store that sells computers, monitors, cameras, televisions 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 of the forces are high in this new industry. What should John do?

Not introduce the product because all five forces are strong and this would be highly risky business startegy

Andy Benton works at the local Starbucks coffee shop and his responsibilities include taking orders, fulfilling orders, and ringing in sales. At what level of the organizational pyramid would you categorize Andy?

Operational

Which of the following is considered data?

Quantity Sold

What is Data?

Raw facts that describe the characteristics of an event or object

What occurs when a task or activity is unnecessarily repeated?

Redundancy

What are tasks performed by people that customers will buy to satisfy a want or need

Services

Which of the below represents the four main steps in the business process reengineering?

Set project scope, study competition, create new processes, and implement solution

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

Strategic

Which of the below represents the three different levels of a company pyramid from the top to the bottom?

Strategic - Managerial -Operational

What improves business process efficiencies by simplifying or eliminating unnecessary steps?

Streamlining

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

Paula Logston is the owner and operator of a high-end online custom 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? A. To help Paula choose a clothing business focus

To help Paula evaluate the attractiveness of the clothing industry

Your boss, Kerry Miller, 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 renegotiates a lower cost per bottle from Coke in exchange for premium shelf space in every Walmart store

Which of the following provides and example of information?

What is my worst-selling product?

Which of the below represent the four main DSS analysis techniques outlined in the chapter?

What-IF analysis, Sensitivity Analysis, Goal-Seeking Analysis, Optimization Analysis

Which of the following provides an example of data?

Who is customer number 12345XX?