management systems
The project management (PM) process has 4 phases. Place the phases in order with the first phase at the top.
1. The initiation phase 2. The planning phase 3. The execution phase 4. The closure phase
Select two objectives that might typically be accomplished during the planning phase (the second stage) of the project management process.
A Gantt chart is created or fine-tuned if one was started during the feasibility study. A meeting with project stakeholders is convened allowing these key players to review the Gantt chart and the project timeline.
As technology improves, the capabilities of, and the demands on, business management systems increase. Select three examples of the impact of advancements in business management systems on the expectations of users.
A customer checks the status of his pizza's creation and delivery from his phone A lead contractor views the latest changes to a building blueprint online. A sales representative observes customer purchases of 15 client stores in real time.
Business management systems need three major components in order to provide the services expected by today's managers. These include:
A decision-making information system A database management system (DBMS) A predictive information system
Select three examples of the impact of advancements in business management systems on the expectations of users.
A manager expects to view changing sales projections from different stores from a computer in her office. Employees expect to make changes to their tax withholding online. Students expect to be able to view a syllabus, from any course, at any time from their phone.
What is conducted in the process design step of business process management?
Activities are examined and divided into their individual components.
What is conducted in the process modeling step of business process management?
Analysts use flow-charts and other tools to depict workflow.
What business management system seeks to streamline an organization's activities to prevent backlogs and inefficiencies?
Business Process Management (BPM)
Match the term with its definition.
Business intelligence (BI): This uses data mining techniques combines and then adds data visualization tools so that managers can make faster, more informed, decisions. Data mining: This accesses external databases as well as data that the firm has collected itself (internal data). Predictive analytics: This uses algorithms to determine the most likely outcomes given a set of inputs. Visualization tools: These display information in a manner that make it easier for managers to assimilate or to see patterns.
Inappropriate and inconsistent pay can demotivate the strongest workforce, for this reason, many firms use ___.
Compensation management software
Jose's business management system needs to meet very unique needs. He also has a very small IT department. Which business management system should Jose adopt?
Custom cloud-based Solution (PaaS or IaaS)
Which business management system typically begins by collecting customer information such as email, telephone, and social media data, and then combines this with information regarding the customer's buying habits, so that the management team can better anticipate customer desires?
Customer Relationship Management (CRM) System
Smart managers understand that it is far less expensive to retain an existing customer than it is to acquire a new customer. This is the concept behind the use of which business management systems?
Customer Relationship Management (CRM) Systems
The process of gathering, storing, and searching relevant data is referred to as ___ .
Data science
Match the term with its definition.
Data science: Gathering, storing, and searching relevant data. Data Visualization: Conveying meaning from big data analytics to managers who need to make decisions based on this data. Big data analytics: The technology and processes used to gain intelligent, usable information from databases.
Match the business management component with its function.
Database management system (DBMS): Provides a means of storing and finding information Predictive information system: Models trends and attempts to predict outcomes Decision-making information system: Works with a limited number of inputs and unknowns to provide managers with a statistical analysis of likely outcomes
Tracking the performance of employees will always be a critical component of management for this reason, most firms use ___.
Employee Evaluation Software
Select three categories of HR management systems.
Employee benefits administration software Employee evaluation software Compensation management software
Payscale.com, Payfactors.com, and Salary.com are examples of sites that offer ___
Employee comp management solutions
Select 3 activities that typically fall under the purview of an HR manager.
Fraternization policies Dress policies Employment agreements
Which of the following is a tool commonly used by project managers?
Gantt chart
SAP (originally Systems, Applications, & Products) is a recognized leader in the development of HRM software. SAP is headquartered in:
Germany
The most efficient way to implement an effective business intelligence (BI) system is to:
Get buy-in from the users (typically first line employees, supervisors, and junior management).
When did human resources management (HRM) originate?
HR management has existed at least as long as recorded history.
Which manager has the role of managing employee grievances, absences, sick days, and paid-time-off days?
HR manager
Match the HR activity with the category of human resource management systems.
Human resources managers look ahead to determine the future workforce needs of the corporation: Recruiting and Hiring Software Whether the firm uses primarily hourly, salaried, or independent contractors; ensuring that these employees are paid correctly: Compensation Management Software Documenting employee performance and providing an equitable means of ranking performance: Employee Evaluation Software
Select two reasons why a human resource manager might choose to use recruiting and hiring management software.
Human resources managers often need sophisticated software to assist them in making accurate estimates of recruiting, hiring, and training requirements. Extensive governmental oversight regarding the hiring of employees makes using an updated recruiting and hiring management essential.
Select two reasons why senior management should seek buy-in from stakeholders when implementing a new business intelligence (BI) system.
If users find the BI software too cumbersome to use it can lead senior management into making sub-optimal decisions. If users do not understand the process the BI software will unnecessarily waste an organization's resources.
Select three reasons why managers use customer relationship management systems.
Improve pricing decisions To customize marketing messaging To target profitable customers
Select 2 reasons for the increased efficiency of modern inventory management systems.
Improved forecasts of order quantity levels More accurate estimates of re-ordering points
Calculating re-ordering points and order quantity levels are key advantages of modern ___ .
Inventory Management Systems
Sara, an executive with McMurtry Management, has decided that her organization needs to update its business management system. What three questions should she consider prior to choosing a system?
Is the change worth the expense and impact on employee morale? How will the new system interact with existing systems? Where will the new system be housed?
Ayala has decided to implement a new business management system. What are two advantages of hosting on-premises?
It can be configured to meet the unique needs of the organization. Any changes deemed necessary can be implemented extremely quickly.
Jim, an HR director, does not want to change business management systems, even though it brings several advantages and falls within his department budget. What are two reasons why Jim might not want to make the change?
Jim believes changing to the new system will cause a decrease in productivity, at least in the short-term. Jim believes the change will create employee stress as they are required to adapt to a new system.
What is conducted in the process optimization step of business process management?
Managers adapt (modify) the process to enhance process performance.
Select the objective that is typically accomplished during the execution phase (the third stage) of the project management process.
Managers monitor the progress of the project and resources.
Advances in technology greatly impact the capabilities of business management systems. The doubling of the number of transistors on each chip that occurs roughly every 18 months reflects the speed of this technology advance. This phenomenon is called ___ .
Moore's Law
Computer chips double in computing power roughly every 18 months. This phenomenon is called:
Moore's Law
When implementing a new business management system, which option provides managers with the greatest degree of control?
On-Premises Option
Select three methods businesses use to house a business management system.
On-premises custom solution Customized, cloud-based solution (PaaS or IaaS) SaaS solution
Select 3 common services provided by project management (PM) systems software.
Permissions levels Document storage Visual project depictions
Match the data analytics software platform with its parent company.
Power BI: Microsoft Locker: Google Tableau: Salesforce
In the first step in business process management, analysts often "storyboard" the processes in an attempt to view the entire system prior to investigating each component. This is called:
Process Design
The 3rd step in business process management provides managers the ability to play the "what-if" game by changing input variables (abstract) decision making. This is the ___ step
Process Execution
The 2nd step of BPM involves the use of flow-charts and other tools to examine decision points and inputs. This step is called:
Process Modeling
In the fourth step in business process management, managers track the individual components of the process as well as the process as a whole so engine performance can be measured. This is the _____ step.
Process Monitoring
By identifying potential slowdowns or savings opportunities, the last step of business process management, the ___ step allows managers to create a continually improving process.
Process Optimization
Select three popular inventory management systems.
QuickBooks Enterprise SAP Material Management (SAP MM) Oracle NetSuite
Because the number of variables involved in calculating future workforce needs makes this determination highly complex, HR managers often rely on ___
Recruiting and Hiring Software
Human resources managers focus on which three of the following?
Scanning the environment to determine future HR needs Recruiting, hiring, training, retaining, compensating, appraising, promoting, reassigning, and firing employees Managing employee grievances, absences, sick days, and paid-time-off days
Select three common features of modern data visualization tools that accompany most business intelligence (BI) systems.
Scroll-over features Dashboard presentation Search capabilities
Wesley has decided to implement a new business management system. What are three advantages of using a Software-as-a-Service (SaaS) solution?
Security concerns are minimized as the SaaS provider undoubtedly has greater resources and expertise in security management than most firms. They are updated by a third-party that has a major financial incentive in ensuring that the software is in compliance with the latest regulations A SaaS solution minimizes initial start-up costs
When implementing a new business management system, which option provides managers with lowest initial start-up expenses.
Software-as-a-Service (SaaS) Option
Select three objectives that might typically be accomplished during the closure phase (the last stage) of the project management process.
Stakeholders discuss how closely the project met expectations. Managers document the lessons they learned during the project's execution. All associated contracts are ended.
Select three objectives that might typically be accomplished during the initiation phase (the first stage) of the project management process.
Stakeholders in the project are identified. A statement of work or other working agreement is created. A projected timeline for deliverables is developed.
What is conducted in the process execution step of business process management?
The business process execution language engine is run.
Select three examples of why inventory management is often critical to business success.
The lack of necessary inventory can bring production to a halt or cause lost sales and dissatisfied customers. A grocery store must reduce prices and ultimately dispose of overripe fruit. An electronics retailer must mark down outdated smartphones.
Along with pay, employee _______ remain a critical part of an overall compensation strategy.
benefits
Along with their pay, HR managers often need to track employee hiring dates, marital status, number of dependents, cafeteria choices, and usage, in order to accurately manage their employees' ___ . For this reason, nearly all firms use a management system to ensure this is done correctly.
benefits packages
Many managers, particularly in smaller firms, use companies such as Zenefits and BenefitFocus to manage their employees' ___.
benefits systems
Because many managers must base decisions on nuanced information, modern ___ software provides not only the probable outcome, but also the degree of likelihood of the outcome.
business intelligence
During the fourth stage of the project management (PM) process, the manager documents the lessons learned during the project's execution. This is called the _____ phase.
closure
The last stage of the project management (PM) process, in which managers document the lessons they learned during the project's execution is the ___ phase.
closure
To reduce security risks and to facilitate collaboration among the various stakeholders in the project, most project management (PM) systems are located on the _________
cloud
Skyler, an executive, wants to implement a business management system that can be quickly scaled as he anticipates rapidly changing database storage needs. He likes his uniquely developed current system but wants increased security from hackers while decreasing his need for a large IT department. Skyler should choose a __
custom Cloud-based solution (PaaS or IaaS
To maximize a sale force's efficiency and effectiveness, managers use _______ relationship management systems.
customer
Salesforce remains one of the largest suppliers of ___ software solutions.
customer relationship management (CRM)
Nearly all BI software platforms have a(n) ___, that displays an overview of the data that is presented.
dashboard presentation
The 3 main components of a business management system include a decision-making information system, a predictive information system, and a ___.
database management system
Integrating database management systems (DBMS) with predictive analytics, to give managers a recommended course of action is the focus of ___
decision making management information systems
The first step in business process management examines business activities and breaks them down into their individual components. This is called the process _____ step.
design
When selecting an inventory management solution, two reasons managers should opt for a system that integrates easily with existing business management software are ___ and ___.
employees will be less anxious if they are somewhat familiar with the system already using a system that employees are used to will probably reduce training time
Kronos Workforce Ready, BambooHR, PerformancePro, and others, provide packages designed to meet the employee ___ needs of smaller firms.
evaluation
Many states require significant documentation of substandard performance prior to any employee demotion or dismissal, while an equitable means of ranking performance can serve as a strong motivator. For this reason, many managers use employee ________ software to efficiently meet these needs.
evaluation
During the third stage of the project management (PM) process, the manager constantly monitors the progress of the project and the project's resources. This is called the _____ phase.
execution
The 3rd stage of the project management (PM) process, in which managers constantly monitor the progress of the project and the project's resources. is the ______ phase.
execution
The third step in business process management provides managers with real-time (executable) decision making as well as the ability to play the "what-if" game by changing input variables (abstract) decision making. This is called the process _______ step.
execution
Because some tasks can be done concurrently while other tasks are dependent upon the completion of preceding tasks, Gantt charts are constructed using a ______.
horizontal bar chart
During the first stage of the project management (PM) process, the manager outlines the requirements of the project, documents these requirements, and analyzes the costs of the project. This is called the ______ phase.
initiation
The software and processes that allow organizations to capitalize on the power of big data and predictive analytics is referred to as business _____ (BI).
intelligence
Providing estimates of how accurate the re-ordering point and order quantity levels forecast will be (confidence levels), based on historical trends are examples of the efficiencies associated with today's _______ management systems.
inventory
Universal Product Codes (UPC) and Radio Frequency Identification (RFID), combined with database management systems (DBMS), have greatly advanced the performance of ______ management systems.
inventory
Managers should opt for a system that integrates easily with existing business management software, and that will take the shortest training time for employees that need to provide sale's or usage quantity inputs when choosing an inventory _______ solution.
management
Today's employees expect to be able to go online and see a record of their compensation and make adjustments such as their tax withholding. Twenty years ago they would have planned to meet with their human resources department representative to make such changes. This is one example of how expectations change as advancements in business ________ systems occur.
management
In the fourth step of business process management, managers track the individual components of the process as well as the process as a whole so that the performance of the engine can be measured. This is called the process ______ step
monitoring
The doubling of the number of transistors on each chip that occurs roughly every 18 months means that computer capability, and the corresponding software, also improve rapidly. This phenomenon is called ______ Law .
moores
Jameson, a senior executive, wants significant control of his business management system so that he can implement changes to quickly adapt to the dynamic business environment. The system that would best meet these needs would be a ___ system.
on-premises option
The fifth and final step in business process management has managers adapting the process to enhance process performance. This is called the process ____ step.
optimization
During the second stage of the project management (PM) process, a Gantt chart is created, or fine-tuned if one was started during the feasibility study. This is called the _______ phase.
planning
Employee compensation software at major corporations is often included as part of its enterprise resource _______ (ERP) software suite.
planning
The 2nd stage of the project management (PM) process, which involves meetings with project stakeholders is the _______ phase.
planning
By allowing managers to automate business processes through modeling, analyzing, and improving efficiencies, business ________ management (BPM) systems streamline organizations' activities.
process
Software can prove an indispensable aid in the successful execution of a project that has a specific starting point and ending point, and a set of deliverables, is called _______ management software.
project
Human resources managers need sophisticated software to assist them in making accurate estimates of ________, hiring, and training requirements.
recruiting
The business management system seeks to manage a firm's interactions with customers using analytics and data analysis to identify the most valuable customers and target future customers is the customer _______ management system.
relationship
The strategic use of employees to allow organizations to operate efficiently and gain competitive advantage is referred to as human ______ management
resource
LeAnn is implementing a new business management system for her firm. She wants to minimize start-up costs and her business's management system needs are similar to many other organizations. LeAnn wisely chooses a Software-as-a- _______ (SaaS) system.
service
Hubspot CRM, Zoho CRM, and Freshsales CRM aim to meet the needs of ___ .
smaller businesses
Decision making management information systems became necessary because ___
the amount of information available far exceeds any manager's ability to take advantage of this increased information.
