MIS 311 Pop Quiz CH 1

Today's workers are referred to as _______________ and they use BI along with personal experience to make decisions based on both information and intuition, a valuable resource for any company. A. Knowledge workers B. Knowledge thinkers C. Knowledge resources D. All of the above

A. Knowledge workers

Which of the following is considered data? A. Quantity sold B. Best customer by month C. Best selling item by month D. Worst selling item by month

A. Quantity sold

Your boss, Tom Repicci, has asked you to analyze the airline industry using Porter's three generic strategies. Which of the following companies are using a cost leadership strategy? A. Southwest, Horizon, Frontier, JetBlue. B. British Airways, Singapore Airlines, Virgin Atlantic. C. Sky Taxi - a rent by the hour personal plane service. D. All of the above.

A. Southwest, Horizon, Frontier, JetBlue.

Shawn McGill is on the executive board for ABC pharmaceuticals. The company produces the number one selling cancer fighting drug on the market. Due to its incredible success ABC pharmaceuticals has decided to increase the cost of the drug from $8 a pill to $15 a pill. Which force is ABC pharmaceutical using to increase its drug price? A. Supplier power. B. Buyer power. C. Threat of false entrants. D. Business power.

A. Supplier power.

Which of the following is NOT considered a category within the primary value activities in a value chain analysis?  A. Inbound logistics. B. Firm infrastructure. C. Operations. D. Service.

B. Firm infrastructure.

Assume you are in the business of producing and selling t-shirts. If you could produce more t-shirts with the same input what would happen to your productivity and profits assuming the price of your t-shirts remains the same?  A. Increase in productivity, decrease in profits B. Increase in productivity, increase in profits C. Decrease in productivity, decrease in profits D. Decrease in productivity, increase in profits

B. Increase in productivity, increase in profits

Jennifer Bloom is writing a paper and she must determine which of Porter's three generic strategies The Museum Company has implemented. Jennifer finds out that The Museum Company offers specialty products found only in museums around the world to affluent customers. What would Jennifer determine The Museum Company is using as its generic strategy? A. Broad market, low cost. B. Narrow market, high cost. C. Broad market, high cost. D. Narrow market, low cost.

B. Narrow market, high cost.

Greg works for Geneva 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? A. Accounting. B. Operations. C. Marketing. D. CIO.

B. Operations.

Most companies are typically organized by departments or functional areas. Which of the following is NOT a common department found in a company?  A. Accounting. B. Payroll. C. Marketing. D. Human Resources.

B. Payroll.

Which of the following is considered information? A. Quantity sold B. Date sold C. Best-selling item by month D. All of the above

C. Best-selling item by month

All of the following are common tools used in industry to analyze and develop competitive advantages, except: A. Five Forces Model B. Three Generic Strategies C. Competitive analysis model D. Value chain analysis

C. Competitive analysis model

Which four elements are included in systems thinking? A. Output, Process, Feedback, and Accounting. B. Process, Output, Operations, and Accounting. C. Input, Process, Output, and Feedback. D. Input, Output, Sales, and Feedback.

C. Input, Process, Output, and Feedback.

Which of the following represents the relationship between functional areas in a business? A. Independent B. Autonomous C. Interdependent D. Self-sufficient

C. Interdependent

Sandy Fiero works as the Chief Knowledge Officer for Bend Lumbar Company. She has been given the responsibility to create a product or service that will bring an added value to its customers to increase the company's revenue. Sandy determines that the best value she can add is by creating a service that offers free next day shipping on any order over $50. Where in the value chain is Sandy adding value?  A. The primary value activity outbound logistics. B. The primary value activity inbound logistics. C. The primary value activity marketing and sales. D. The primary value activity operations.

A. The primary value activity outbound logistics.

Imagine you are creating a new product to sell in an up-and-coming market. Which of the below statements indicates that it would be easy for you as the new entrants to compete in this market? A. The threat of new entrants force is high in the up-and-coming market. B. The threat of new entrants force is low in the up-and-coming market. C. The threat of new entrants force is impossible to define in the up-and-coming market. D. All of the above depending on the time of year.

A. The threat of new entrants force is high in the up-and-coming market.

How can a company reduce the threat of substitute products or services?  A. Market the product to less than ten customers. B. Ignore competitive forces. C. Offer additional value through wider product distribution. D. Offer less value making the product far more generic and similar to the competition.

C. Offer additional value through wider product distribution.

If you were thinking about a washing machine as a system which of the following represents the process? A. The dirty clothes, water, and detergent. B. The clean clothes. C. The wash and rinse cycle. D. The light indicating that the washer is off balance and has stopped

C. The wash and rinse cycle.

Business intelligence is information collected from multiple sources. Which of the following provides an example of a source that would be included in business intelligence? A. Suppliers. B. Customers. C. Competitors. D. All of the above

D. All of the above

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? A. Increase buyer power. B. Increase substitute products. C. Decrease supplier power. D. Decrease buyer power.

D. Decrease buyer power.

Which of the following is NOT considered a core driver of the information age?  A. Information. B. Business Intelligence. C. Knowledge. D. None of the above. These are all core drivers of the information age.

D. None of the above. These are all core drivers of the information age.