bcor 3330
What is legendary GE CEO Jack Welch quoted as saying about competition?
"If you don't have a competitive advantage, don't compete."
Six Sigma techniques seek to reduce variance in output to less than how many errors per 1,000,000 manufacturing steps?
3.4
Which of the following is an example of employees behaving according to Lean manufacturing techniques? More than one answer may be selected.
A manager notices a safety violation and stops production. Marketing employees are cross-trained on the production processes.
Describe the importance of information quality. More than one answer may be correct.
A staggering amount of money is lost as a result of bad data. According to the Data Management Body of Knowledge, the process of data quality management assures data is" fit for consumption and meet the needs of data consumers." To avoid costly errors, organizational decisions need to be based on high-quality information.
Which of the following is an example of a process that uses Six Sigma techniques? More than one answer may be selected.
A tutoring center requires all students to score 100 percent on a cumulative test before moving on to the next level; materials are not unlocked for their username/password until such a score has been achieved. A food manufacturer that sells canned goods has a manufacturing process in place that will not factory seal and label cans until the desired weight has been confirmed to be within .01 oz of the desired weight.
Describe what is known about relatively recent data breaches. More than one answer may be correct.
According to research, there were 2037 publicly reported data breaches in the first half of 2020. In the first half of 2020, data breaches exposed over 27 billion records of information. The main reason most data breaches occur is due to misconfigured databases and services.
What is the main difference between merchant service providers (ISOs) and merchant service aggregators?
Aggregators work with banks to let small businesses accept credit cards.
Which of the following is an example of an advantage that a modern inventory management system provides? More than one answer may be selected.
Automatic reordering occurs when inventory levels dip below a pre-established threshold. Production is scaled up or scaled down depending on the pace of orders received and the amount of inventory currently available. RFID tags that are part of a GIS system are included with manufactured goods once assembly is completed.
Some companies, such as Oracle and SAP, offer SCM either as a stand-alone system or as a major element of an ERP. Which company, previously known as JDA, focuses solely on supply chain management systems?
Blue Yonder
A sophisticated SCM can reduce the impact of the phenomenon that often occurs when small variations in consumer demand create amplified demand variations in the supply chain. This phenomenon is referred to as the
Bullwhip effect.
Businesses that rely on Quickbooks may need a decision support system, but this financial management software for small businesses does not provide one. What other resources are easily available?
Business analytics software apps that integrate with QuickBooks are available.
Which of the following is not a recent challenge faced by Robinhood?
CEO charged with insider trading
Online analytical processing (OLAP) is the technology behind many business intelligence applications. Of the following, what three facts about OLAP and CRM are true?
CRM analytics are considered a form of online analytical processing (OLAP). OLAP includes predictive what-if analysis, report generation, and forecasting. CRM systems incorporate data mining through online analytical processing.
Select all true statements about CRM analytics from the following. More than one answer may be correct.
CRM analytics provides insights into customer behavior that can be used to make informed business decisions. Data is gathered from point-of-sale, e-commerce technology, and customer interactions. CRM analytics can be considered a form of online analytical processing.
Describe how customer relationship management (CRM) systems help businesses develop relationships with customers. More than one answer may be correct.
CRM systems provide organizations a clear overview of their customers. Information from CRM systems can be efficiently and intelligently used to make informed business decisions and to develop relationships with their customers. Data collected by CRM systems includes customers' likes and dislikes, what content they engage with, and what they post about competitors.
How do CRM systems make troubleshooting customer problems easier?
CRMs store information about customer purchases and interactions.
Marketing manager Zia needs to know if increasing the firm's social media advertising budget will result in a higher return-on-investment. She uses a decision support system (DSS) to determine how much of a budget increase is needed to achieve a targeted sales increase. Later, if actual sales data do not match the DSS determination, Zia will rely on the system to adjust its recommendations. What does this example demonstrate?
DSS is a form of artificial intelligence.
In terms of information quality, define "relevance" as a factor.
Data to be collected should be useful to the organization.
Which of the following is an example of something that would occur during the Measure and Analyze steps of the Six Sigma process? More than one answer may be selected.
Determine the number of imperfect products that occurred at a manufacturing plant every month. Compare the number of imperfect products produced at two different manufacturing plant locations and describe any procedural differences between the locations.
Why is MIS critical in the implementation of Six Sigma techniques?
During the Measure and Analyze steps of the Six Sigma procedure, collecting data and using data analytics are essential, particularly when measuring variances in products or processes.
Creating efficiencies by ensuring that nearly all aspects of the firm's operations coordinate with each other is why many corporations integrate a SCM system with their
ERP system.
Why does enterprise resource planning (ERP) systems software include all of the software used to manage different departments within a corporation?
Enterprise resource planning software centralizes the key business applications of a corporation.
An executive wants to know what would happen to company profits at the one-year, two-year, and five-year point if she reduced spending on manufacturing but increased spending on marketing and customer outreach. What system would she use to model this?
Enterprise resource planning system
Which privacy law governs the transfer of personal data outside of the geographic location the law was written in?
Europe's General Data Protection Regulation
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).
Makoto and Rebecca want to hire a nanny for their 6-month-old baby. Before allowing someone into their home to watch their child, they are planning on running a comprehensive background check, including a credit check. Which law specifies whether Makoto and Rebecca are legally allowed to access potential candidate's credit information?
Fair Credit Reporting Act
How does a first-mover firm's ability to develop logistics and acquire raw material ahead of competitors impact success? More than one answer may be correct.
It increases the firm's ability to bring out new products quickly. It is especially important if materials are hard to find.
Which statements about the analytical hierarchy process (AHP) model are true? Select all the correct answer options.
It is a multi-criteria programming model that uses an analytical hierarchy process for decision making. It allows for many variables or conditions to be considered and prioritized, resulting in the selection of the best alternatives or projects. It analyzes intricate situations and scenarios by deconstructing the problem into a visible hierarchy that can be analyzed through comparison.
Which of the following is an advantage provided by an enterprise resource planning system? More than one answer may be selected.
It provides a unified look at all aspects of an organization. Its reports are generally available on mobile devices. It is scalable, so that it is available to both large and small businesses.
Which of the following business applications would an enterprise resource planning (ERP) systems software support? More than one answer may be selected.
Logistics Systems financial and accounting systems customer resource management system
Which three of the following statements about management filters are true?
Management filters are included in project management software applications. Management filters eliminate the need to search through large volumes of data. Management filters allow managers to select specific data for specific decisions.
Amazon realized it could achieve a competitive advantage by addressing a key problem before its competitors. How did Amazon recognize it needed recommendations?
Many site visitors searched for titles but didn't buy any.
Which businesses are currently considered direct competitors? More than one answer may be correct.
McDonald's and Burger King Aquafina and Dasani
Which of the following companies provide ERP solutions?
Microsoft IBM Sage
Which ERP solution has Walmart implemented?
Microsoft Azure and Microsoft 365
Who are some of the major suppliers of supply chain management software? More than one answer may be correct.
Oracle (Fusion) SAP Blue Yonder
Of the following software systems, which three make up the suite of products that have integrated with QuickBooks?
PayCyclePayCycle Innovative Merchant Solutions Mammoth/ThinkHR
Which company became one of the world's largest merchant service aggregators after it was purchased by eBay in 2002?
PayPal
What is the difference between production reports and forecasting reports about production?
Production reports also fully track current levels of production.
Arguably the most powerful business intelligence (DSS) software available is Business Objects, offered by Germany-based
SAP.
Keeping in mind that all SCM systems have three basic components, how do individual systems vary?
SCM systems vary according to the product or products provided.
Which of the following are manufacturers of enterprise resource planning system software? More than one answer may be selected.
Sage Group Microsoft OracleOracle
Who are well-known manufacturers of customer relationship management software? More than one answer may be correct.
Salesforcet HubSpot Freshsales
Which privacy law gives the government authority to prevent unfair or deceptive trade practices?
Section 5 of the Federal Trade Commission
A manager is trying to decide which vendor she should use to manage social media promotion. Which of the following is an example of how she would compare selection criteria? More than one answer may be correct.
She would determine which vendor has previously gotten companies a lot of buzz on social media platforms. She would determine which vendor has prices that fit with in her social media budget. She would determine which vendor is offering more content generation than the others.
Why don't more companies create disruptive innovations? More than one answer may be correct.
Significant company resources go to improving existing products and processes. Much imagination and foresight are necessary to successfully innovate.
Which company was formed by Jack Dorsey, cofounder and CEO of Twitter, to provide small business owners with aggregator services and a credit card payment system they could operate through their iPhones?
Square
Which of the following is the term for CRM analytics that provides information about where data erosion occurs and how the erosion can be minimized?
Standardized Data Collection Processes
Which software company has expanded its credit card payment processing products to also sell point-of-sale (POS) stations?
Stripe
How can picturing a long series of "if-then" statements best explain how the model of a decision support system works?
The DSS model adapts its processes based on the success of every prior decision.
How do Internet-connected, point-of-sale (POS) terminals save time for retailers and other businesses? More than one answer may be correct.
The availability of credit or funds is electronically verified. The transaction information is automatically recorded
Describe the balanced scorecard method for decision making. More than one answer may be correct.
The balanced scorecard is used to structure an organization's strategic plan. Managers rely on information from ESS to populate areas of a balanced scorecard. Balanced scorecards include measurable outcomes such as financial information and information about internal business processes.
A company is trying to determine why their CRM software is not generating better leads and asks you to analyze their process. Which of the following could be reasons why their CRM is not successfully generating leads? More than one answer may be correct.
The company only has a presence on Facebook—it has no social media presence on any other platform. The CRM is not set up to track which emails potential customers are clicking on to get to their e-commerce site.
A new app wants to use CRM to analyze whether a new feature would generate reliable income. Which of the following could be used to determine this? More than one answer may be correct.
The company uses the CRM to track how many users access this new feature and how much time they spend using it. The company uses the CRM to track how much more or less time users who access that feature spend in the app overall.
Which of the following is an example of how CRM market analytics improve the quality of customer data collection? More than one answer may be correct.
The data that is collected from various sources is determined to be high-quality data. Providing insight into how users interact with the CRM system allows companies to implement better data collection strategies.
Which three advantages, according to Lieberman and Montgomery, are available to a firm that is the first to introduce a product into its market?
The firm's employees will learn from experience how to use technologies and processes to develop the product. The firm has an opportunity to secure raw materials and to develop logistics ahead of any other competitors. Any company's competing product must meet the specifications established by the initial entrant.
Why were Amazon's initial recommendation efforts unable to secure a sustained competitive advantage?
The same information was available to competitors.
From the following list, select all the ways in which CRM systems assist businesses in targeting a market segment.
They are used to identify a target market and provide insights into the profiles of these customers. They help identify the common characteristics of target market members, including geographic location, demographic and psychographic backgrounds, and income level. They provide analysis of customer characteristics, which is an important part of the target market identification process.
Why didn't the major brick and mortar booksellers negate Amazon's competitive advantage by just copying Amazon's website and recommender system?
They believed it would steal sales from their physical stores.
From the following list, select all the characteristics of unstructured management decisions.
They involve tasks and choices that are routine. They frequently include operational decisions and are regularly made by individual employees and teams.
Why didn't other online booksellers negate Amazon's competitive advantage by just copying Amazon's recommender system?
They lacked the necessary IT resources.
When designing a solution, why is it important to consider all outcomes?
This will allow you to create multiple plans in order to visualize all possible solutions.
How does It systems help competitive advantage
Tracks consumer buying habits
What is the term for a CRM that tracks the type of sale that is most likely to make a person purchase an item that they have previously viewed on an e-commerce site?
User Experience
Which of the following would be a good question to ask to determine why a warehouse was not able to maintain an appropriate amount of inventory? More than one answer may be selected.
Why are inventory levels lower than desired? Why are orders higher than anticipated?
What is the relationship of blue ocean strategy to price leadership versus product differentiation?
With a blue ocean strategy, an organization focuses on both differentiation and price leadership.
Which of the following is an example of an industry that requires just-in-time inventory management to remain profitable? More than one answer may be selected.
a fast-fashion retailer that sells knock offs of recent trends targeted to teenage girls an appliance repair business that provides services for all major appliance manufacturers
Which of the following would be considered a benefit when trying to determine which e-commerce platform to use if the committee had decided not to use cost as one of their selection criteria? More than one answer may be selected.
a platform that provides 24/7 support a platform that is easy to scale up or down as business needs change a platform that is similar to the one they are currently using
List characteristics of information quality that ensure the information being used to make informed business decisions is of a high quality. More than one answer may be correct.
accuracy relevance timeliness
From the following list, select ways in which CRM systems are used for customer acquisition.
acquiring customers using social media, search, affiliate, referral, and email marketing tracking customer acquisition using a lead generation funnel tracking prospective and current customers through all stages of the funnel
Which of the following describes an inventory management system? More than one answer may be selected.
an information management system that helps ensure a minimal number of product touches occur from product creation to customer purchase a system that ensures all stock is accurately tracked
The model of a decision support system (DSS), or business intelligence (BI) system, typically adapts its processes based on the degree of accuracy of each prior decision. This type of processing can be called
artificial intelligence (AI).
How is quantitative data about a customer most accurately characterized?
as a record of how a customer interacts with a business
Which of the following data types are qualitative data? More than one answer may be correct.
attitude and opinion motivation to purchase
Which element of the belief action outcome (BAO) framework is MOST helpful for analyzing the way stakeholders' perceptions about and desires for an organization's operating environment are formed?
belief formation
When deciding on a solution, what criteria should a manager use when evaluating different choices? More than one answer may be selected.
benefits costs
Creating an entirely new market is an example of a ________ ocean strategy.
blue
From the following list, select the types of markets that Professor Michael E. Porter showed were suitable for both price leadership strategies and product differentiation strategies.
broad markets niche markets
How did the first cash registers "register" a transaction?
by adding its value to the total amount of payments already received
How does using a CRM to track customer acquisition rates help organizations improve their future customer acquisition rates?
by revealing whether their marketing efforts are effective or require changes
Before the invention of modern transaction processing systems, what other invention had a similar impact on the way that trade was conducted?
cash money
Accepting payment to complete a transaction is called "ringing up a sale" because whenever the till was opened on a(n) ________, a bell would be struck.
cash register
Contemporary behavioral models identify specific management behaviors in practice today. Which of the following activities do managers choose more frequently today than they did in the past? More than one answer may be correct.
communicating orally maintaining diverse contacts
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.
In order to gain market share, a business must differentiate itself from its
competitors
What is the last step in the Five Whys?
consult with members of the organization
Which of the following processes would operations management systems software be used for in a manufacturing firm?
creating bedroom furniture from lumber
Lean techniques support which of the following practices? More than one answer may be correct.
creating relationships with suppliers to smooth supply lines minimizing excess inventory and waste
Which business computer application system combines information regarding the customer's buying habits with other data such as contact information so that the management team can better anticipate customer preferences and needs?
customer relationship management system
The information needed to calculate share of customer is provided, in large part, by
customer relationship management systems.
HubSpot, Zoho, and Freshsales focus on
customer relationship management.
Executive information system (EIS) software is a version of
decision support system (DSS) software.
What software systems are commonly used across the logistics industry, from railway scheduling to managing port visits for ships to operating locks on waterways?
decision support systems
Modern air travel would not be possible without
decision support systems software.
When managers work on strategic objectives, handle conflicts, and allocate budgetary resources to subordinates, what role are they enacting, according to Mintzberg?
decisional
A company has an excess of puffer jackets at the end of the season that it wants to sell quickly. In order to quickly sell this excess inventory, they send out emails to customers currently in their database. However, they want to determine what type of sale their customers find most motivating, so they send out three different emails with different discounts (BOGO free, 50% a purchase over $100, or free expedited shipping). The information gained during this campaign will be tracked, and customers who made purchases will receive similar email offers in the future. What type of CRM strategy is the company using?
demonstrating the value of CRM
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.
Recommendations can be made with DDS software using artificial intelligence (AI) because
each process advances according to the accuracy of the previous one.
If a customer segmentation tool supports integration, what is it able to do?
efficiently link data from various sources and platforms
Customer interaction encompasses all communication between a customer and an organization. A customer relationship management system (CRM) captures interactions from which three of the following sources?
email social media traditional mail
One of the benefits of using a CRM system is that data can be analyzed and provided to assist in measuring the value that the future lifetime revenue an organization's customers will generate minus customer acquisition costs and customer retention costs. This value is referred to as customer
equity
The value that the future lifetime revenue an organization's customers will generate minus customer acquisition costs and customer retention costs is called customer
equity
Which of these reports are commonly provided by Management Information Systems (MIS) to assist in making structured decisions? More than one answer may be correct.
exception reports production reports forecasting reports
What function allows managers the ability to search data sets for information that is needed for a given decision?
filtering
Lieberman and Montgomery examined the advantages and disadvantages of being the first firm to enter a product into the market. They coined this phenomenon
first-mover advantage.
Which level of share of wallet means that existing customers are spending more to purchase products or services from one organization than they are from direct or indirect competitors?
high share of wallet
Because employee education and training are so important to ensuring that all employees can participate in lean manufacturing processes, ________ systems play a key role in success.
human resources management
What is the third step when applying multiple-criteria decision analysis (MCDA)?
identify and select objectives and criteria
Which of the following are the tenets of lean manufacturing that Dr. James Womack included in his book The Machine that Changed the World? More than one answer may be selected.
identifying how each product acquires value relentlessly pursuing perfection
A new app was released providing consumers with digital coupons for products the consumer indicates they frequently purchase. The app gives different users coupons with different values and shares purchasing as well as demographic information with the product manufacturer. Under what circumstances would the information sharing with product manufacturers be ethical?
if the app's terms of service indicated who they would be sharing information with and what information would be shared
According to research by Risk Based security, there were 2037 publicly reported data breaches
in the first half of 2020.
What provides the structure for structured decisions and tasks in the workplace? More than one answer may be correct.
industry trends business strategy
According to Mintzberg, managers take part in what organizational role when they disseminate information and strategic objectives to their subordinates?
informational
Which outcome of the balanced scorecard framework measures how efficiently a business is operating?
internal business processes
Unstructured decisions include which of the following decisions or activities? More than one answer option may be correct.
inventory decisions payroll and overtime decisions
From the following list, select all of the decisions or activities that would be considered structured decisions.
inventory decisions payroll and overtime
How does Robinhood currently compare to major financial service firms?
it's much smaller but growing quickly
From the following list, select all of the characteristics of an organization that are examined with a SWOT analysis.
its internal strengthsits internal strengths its external threatsits external threats its internal weaknesses
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
Manufacturing practices that emphasize developing efficient and smooth supply lines and minimizing excess inventory, delays, and waste are
lean techniques.
Which of the measurable outcomes of the balanced scorecard framework focuses on organizational culture?
learning and growth
An international automobile manufacturer is concerned about how its global operations will be impacted by changing government standards for auto emissions and fuel efficiency. Which component of a PESTEL analysis can best help the manufacturer evaluate any threats posed by these policy changes?
legal
Descriptive data about a customer includes categories such as
lifestyle and career.
What are the key functions of customer relationship management (CRM) systems? More than one answer may be correct.
marketing sales Customer Service
Customized communication is best described as
matching the message to the individual customer.
The methodology for making decisions in a decision support system (DSS) is known as its
model.
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.
Early on, what innovative core feature did Robinhood use to attract customers?
no-fee, single-share stock purchases
Which of the following activities earns Robinhood the most revenues?
payments for order flow from traders
Quantifiable values that validate how effectively an organization is accomplishing significant business objectives are called key
performance indicators (KPIs).
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).
Classical models of management describe what managers do. Henry Fayol identified five functions of managers. Which of the following functions does Fayol's classical model include? More than one answer may be correct.
planning organizing coordinating
A branch manager for a national car rental company is in the process of conducting a SWOT analysis for her location. Which of the 5 Ps can she examine using the company's inventory management system for its rental fleet?
plant (physical attributes or resources)
What is the overall goal of a decision support system?
problem solving by providing vital information or indicating areas of influence
ERP systems
provide management software to help a business enterprise with its core activities.
Which types of data are included in the analytical hierarchy process (AHP) programming model for decision making in multifaceted operational environments? Select all of the correct answer options.
qualitative data observational data data from enterprise systems
In the financial world, some Nigerian banks have used a fast-follower strategy. To reap benefits, they have
quickly developed and marketed products introduced by Western banks.
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.
In terms of customer relationship management (CRM) software, what does customer service mean? More than one answer may be correct.
response to customer questions processing returns managing customer contacts
Recall financial outcomes that are commonly measured and used in the balanced scorecard framework. More than one answer may be correct.
revenue ROI cash flow
From the following list, select all of the performance areas that are typically observed by middle managers and operational managers.
sales employee performance adherence to organizational guidelines
In which stage of Herbert Simpson's four stage process for decision making are solutions identified?
second
List steps organizations who employ a CRM system can take to protect customer data. More than one answer may be correct.
server security proper CRM administration CRM software updates
Robinhood's user interface would be best described as
simple and fun.
In addition to integrating supply chain management in a retail setting, what other information does customer relationship management (CRM) software typically include? More than one answer may be correct.
social media customer support interactions sales and returns
Which PESTEL factor can managers monitor by improving communications throughout the organization and gaining better perceptions of consumers' opinions using CRM software?
sociocultural
A business must not only look at its direct competitors, but also must contend with those firms that offer a product that a consumer might alternatively choose. For example, McDonald's and Burger King can be considered competitors and if one firm raises prices the other firm might gain its customers. However, if both firms raise their prices, customers may choose to purchase pizza instead. Porter refers to this as the force of
substitutes
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
Which three of the following make up the major elements of a supply chain management system?
supplier relationship management order fulfillment management customer relationship management
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
In addition to existing competitors and new competitors, what are the forces included in Porter's 5 forces? More than one answer may be correct.
suppliers customers substitutes
If a hotel restaurant is expecting a sudden influx of customers, which business software system/s would enterprise resource planning (ERP) software coordinate to not only manage the additional guests, but also maximize profits? More than one answer may be correct.
supply chain management Human Resource Management Customer Relationship management
Of the following business computer applications, which one offers the manager a single dashboard that integrates reports from multiple logistics software products?
supply chain management (SCM) application
A logistician for an oil company receives an alert from the software she uses that a supertanker has been delayed. In addition, she receives a choice of reasonable actions to take. What software is she likely using?
supply chain management software
During the 1950s, automobile manufacturers had little control over labor costs because the United Auto Workers union (UAW) exercised considerable control over labor
supply.
Which of the following is a key element of an executive information system? More than one answer may be selected.
the ability of an executive to highlight areas of interest provide a visualization of whether the organization is on track to meet its goals
CRM software provides which of the following important customer qualification benefits? More than one answer may be correct.
the ability to make distinctions between true prospects and unrealistic sales opportunities the opportunity to create customized sales funnels based on specific organizational needs and sales characteristics
A food delivery company has recently received many complaints that food has been cold when customers receive it. If they were following Herbert Simpson's four stage process, which of the following would occur during the implementation phase of solving the problem? More than one answer may be correct.
the company could provide its drivers with insulated bags designed to maintain food temperature the company could hire more drivers so that each driver had fewer deliveries between pick-ups at the restaurant
Which of the following has made enterprise resource planning system software available for smaller businesses? More than one answer may be selected.
the declining prices on the hardware needed to run an ERP volume discounts available to companies that purchase all of their planning systems software from one vendor
Which of Porter's 5 forces is countered by the barriers to entering a market?
the force of new competitors
To calculate an organization's customer equity (CE) value we first determine
the future lifetime revenue the organization's customers will generate.
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
For strategic planning, managers should choose an aggressive strategy if a SWOT analysis reveals that the organization faces weak external ________ and its external opportunities are matched with internal strengths.
threats
Which of the following is considered an ethical use of third-party data? More than one answer may be correct.
to collect data from individuals for CRM purpose if it is clearly communicated to users and they have agreed to sell the data to third parties who use it for market and demographic analysis if it is clearly communicated to users and they have agreed
Why does Europe's General Data Protection Regulation (GDPR) govern the transfer of data outside of the EU? More than one answer may be correct.
to ensure data protection wherever the data is processed to prevent companies from circumventing the rule by processing or hosting data outside of the EU
Why did R.A.S. Logistics move to an ERP solution?
to integrate all business processes and allow for transparent data sharing
Amazon obtained a competitive advantage in part by gathering and using data unavailable to its brick and mortar competitors, such as
tracking products viewed but not purchased.
Recall learning and growth outcomes that are commonly measured and used in the balanced scorecard framework. More than one answer may be correct.
training employee retention compensation
What is the correct term for systems that allow money to be exchanged for goods and services more efficiently?
transaction processing systems
Which of the following best describes a typical Robinhood client?
under 40 and making small investments
Because it determines which decisions are implemented, the ________ of the DSS is arguably its most important component.
user interface
In the analytical hierarchy process (AHP) programming model, what is the first thing placed into a hierarchy to facilitate the decision-making process?
variables or conditions in the situation
Share of customer, which focuses on getting as much business as possible from fewer customers, is also known as share of
wallet.
In which of the following scenarios would a multiple-criteria decision analysis (MCDA) be appropriate? More than one answer may be selected.
when a patient is trying to determine if an elective surgery is worth both the cost and time it will take to recover when trying to determine if a historical site in a city with skyrocketing real estate values is worth preserving when a retired couple is trying to decide if they should downsize from the home they raised their family in
From the following list, select all the customer characteristics that are commonly analyzed by a CRM and used to create an ideal customer profile.
where customers are located what customers buy and how often why customers make their purchase
How did Amazon initially try to help customers find titles in its large catalog of books?
with lists posted on its site
