ISM 3011 Business Management Systems

The technology and processes used to gain intelligent, usable information from applicable databases across the Internet is referred to as ___ .

Big data analytics

What is conducted in the process optimization step of business process management?

Managers adapt (modify) the process to enhance process performance.

Power BI Looker Tableau

Microsoft Google Salesforce

When implementing a new business management system, which option provides managers with the greatest degree of control?

On-Premises Option

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

What business management system seeks to streamline an organization's activities to prevent backlogs and inefficiencies?

Business Process Management (BPM)

Which business management system is focused on helping managers to maintain the business's focus on the individual customer by developing a lasting relationship that promote long-term buying?

Customer Relationship Management (CRM) System

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

Tracking the performance of employees will always be a critical component of management for this reason, most firms use ___.

Employee Evaluation Software

Select two reasons why a human resource manager might choose to use recruiting and hiring management software.

Extensive governmental oversight regarding the hiring of employees makes using an updated recruiting and hiring management essential. Human resources managers often need sophisticated software to assist them in making accurate estimates of recruiting, hiring, and training requirements.

In the early 20th century, Henry __ developed a horizontal bar chart that could be used to visualize a project schedule. Today, his chart is the most widely used tool in project management.

Gantt

Which of the following is a tool commonly used by project managers?

Gantt chart

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 the change will create employee stress as they are required to adapt to a new system. Jim believes changing to the new system will cause a decrease in productivity, at least in the short-term.

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

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

Jira and GanttPro are examples of what kind of software?

Project management (PM) system software

Select three popular inventory management systems.

QuickBooks Enterprise Oracle NetSuite SAP Material Management (SAP MM)

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 look ahead to determine the future workforce needs of the corporation. Whether the firm uses primarily hourly, salaried, or independent contractors; ensuring that these employees are paid correctly Documenting employee performance and providing an equitable means of ranking performance.

Recruiting and Hiring Software Compensation Management Software Employee Evaluation Software

Select three methods businesses use to house a business management system.

SaaS solution Customized, cloud-based solution (PaaS or IaaS) On-premises custom solution

Select three common features of modern data visualization tools that accompany most business intelligence (BI) systems.

Search capabilities Scroll-over features Dashboard presentation

What is conducted in the process execution step of business process management?

The business process execution language engine is run.

Select three reasons why managers use customer relationship management systems.

To target profitable customers To customize marketing messaging Improve pricing decisions

Assisting managers by examining large quantities of data and parsing it into usable information is what makes data __ software so valuable in today's business world.

analytics

Along with pay, employee ___ remain a critical part of an overall compensation strategy.

benefits

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

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

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

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

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

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

By allowing managers to automate business processes through modeling, analyzing, and improving efficiencies, business __ management (BPM) systems streamline organizations' activities.

process

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

Hubspot CRM, Zoho CRM, and Freshsales CRM aim to meet the needs of ___ .

smaller businesses

Place the 5 steps of business process management (BPM) in order with the first step at the top.

1. Examining 2. Modeling 3. Running 4. Monitoring 5. Initiating

The project management (PM) process has 4 phases. Place the phases in order with the first phase at the top. Position 1 of 4 The initiation phase correct toggle button unavailable The initiation phase

1. initiation 2. planning 3. execution 4. closure

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

Select three objectives that might typically be accomplished during the initiation phase (the first stage) of the project management process.

A statement of work or other working agreement is created. A projected timeline for deliverables is developed. Stakeholders in the project are identified.

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

The best way of implementing a new BI system is to make it as seamless as possible by using ___.

software with which the users (typically first line employees, supervisors, and junior management) are already familiar

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.

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 sales representative observes customer purchases of 15 client stores in real time. A lead contractor views the latest changes to a building blueprint online.

What is conducted in the process design step of business process management?

Activities are examined and divided into their individual components.

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)

Data science Data visualization Big data analytics

Gathering, storing, and searching relevant data. Conveying meaning from big data analytics to managers who need to make decisions based on this data. The technology and processes used to gain intelligent, usable information from databases.

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.

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

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 .

Moore's

Computer chips double in computing power roughly every 18 months. This phenomenon is called

Moore's Law

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

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

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 major data analytics software platforms.

Tableau by Salesforce SAP Analytics Cloud Oracle Analytics Cloud

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?

Where will the new system be housed? How will the new system interact with existing systems? Is the change worth the expense and impact on employee morale?

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

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

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

Decision __ management information systems provide managers with tools to assist them in using this data to make better choices.

making

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 2nd stage of the project management (PM) process, which involves meetings with project stakeholders is the ___ phase.

planning

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

Business intelligence (BI) and associated big data analytics has no value if it cannot be interpreted and presented effectively to decision makers. Because of this, one of the most important features of any BI system are its data __ tools

visualization

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 three examples of the impact of advancements in business management systems on the expectations of users.

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. A manager expects to view changing sales projections from different stores from a computer in her office.

Which manager has the role of managing employee grievances, absences, sick days, and paid-time-off days?

HR manager

The 3 main components of a business management system include a decision-making information system, a predictive information system, and a ___.

database management system

Kronos Workforce Ready, BambooHR, PerformancePro, and others, provide packages designed to meet the employee ___ needs of smaller firms.

evaluation

Wesley has decided to implement a new business management system. What are three advantages of using a Software-as-a-Service (SaaS) solution?

A SaaS solution minimizes initial start-up costs 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 Security concerns are minimized as the SaaS provider undoubtedly has greater resources and expertise in security management than most firms.

Select two reasons why senior management should seek buy-in from stakeholders when implementing a new business intelligence (BI) system.

If users do not understand the process the BI software will unnecessarily waste an organization's resources. If users find the BI software too cumbersome to use it can lead senior management into making sub-optimal decisions.

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. An electronics retailer must mark down outdated smartphones. A grocery store must reduce prices and ultimately dispose of overripe fruit.

Business intelligence (BI) Data mining Predictive analytics Visualization tools

This uses data mining techniques combines and then adds data visualization tools so that managers can make faster, more informed, decisions. This accesses external databases as well as data that the firm has collected itself (internal data). This uses algorithms to determine the most likely outcomes given a set of inputs. These display information in a manner that make it easier for managers to assimilate or to see patterns.

Select two technologies that advanced the efficiency of inventory management systems.

Universal Product Codes (UPC) Radio Frequency Identification (RFID)

Select 3 common services provided by project management (PM) systems software.

Visual project depictions Document storage Permissions levels

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

Business management systems need three major components in order to provide the services expected by today's managers. These include:

A database management system (DBMS) A predictive information system A decision-making information system

Many managers, particularly in smaller firms, use companies such as Zenefits and BenefitFocus to manage their employees' ___.

benefits systems

In the second step in business process management, analysts use flow-charts and other tools to depict the workflow, the sequence of operations, and the decision points. This is called the process __ step.

modeling

Human resources managers need sophisticated software to assist them in making accurate estimates of ___ , hiring, and training requirements.

recruiting

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

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

Constructing an office building Renting office space in the building

Is a project requiring the use of project management software Requires management, but is not a project that would use project management software

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