BCOR part 4
Why is an organization's chief financial officer more likely to have an accurate picture of its total cash flow if the organization has ERP software that integrates its financial management system? More than one answer may be correct.
A single cash flow report can be generated for the entire organization Real-time cash flow information can be generated quickly, at any time
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 statements best describes the type of business environment that usually requires a decision support system? More than one answer may be correct.
An environment that changes and evolves at a fast pace an environment where problems are typically complex
Which of the following is an example of a benefit of integrating project management software into enterprise resource planning software? More than one answer may be correct.
An executive wants to be able to keep track of all projects that his team is responsible for without having to wait for reports or updates from team members A team lead wants to make sure the work for a project that is divided into phases is equally divided among all team members
In which of the following scenarios would a business use human resource management system software?
An executive wants to know if they should continue to provide two days of paid time off to volunteer at local organizations
One of the first computer aided design programs ever developed was also among the first to be integrated into ERP systems. This popular program is
AutoCAD
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
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?
CRM
What business software applications are commonly integrated with an enterprise resource planning (ERP) system as modules? Select all of the correct answer options.
CRM PM BI
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
How does it most benefit small businesses to have a cash drawer included with the Square Stand?
Cash transactions can be recorded with the others
Describe benefits of cloud-based ERP systems over on-premises ERP solutions. More than one answer may be correct.
Cloud-based ERP systems allow organizations to access reports from remote locations Cloud-based ERP systems have lower IT infrastructure expenses Organizations using cloud-based ERP systems have reduced IT labor expenses
Which business computer application 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 system
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 (DDS) 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?
DDS is a form of artificial intelligence
Modern air travel would not be possible without
DSS
A business application that obtains data from sources internal to the firm, as well as external sources, to assist senior corporate executives in gaining a broader view of the competitive landscape is referred to as a(n)
EIS
Business applications that specifically assist senior executives in gaining a broader view of the competitive landscape are referred to as
EIS
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?
ERP
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
Gartner IT Services company predicts that by 2021, customer relationship management systems will be the single largest revenue area of spending in
Enterprise software
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
ERP software integrates several software packages into a single platform. Which of the following software packages stores employee compensation and performance information?
HRM
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 It reports are generally available on mobile devices It is scalable so that it is available to both large and small businesses
Which CRM-compatible sales prospecting tool utilizes the profiles and connections on a social media platform to generate prospects?
LinkedIn Sales Navigator
Of the following actions, which can be executed most efficiently though use of a management filter? More than one answer may be correct.
Locating an older task folder within a project management system Finding a custom field in a report consisting of multiple spreadsheets
Which two of the following statements describe key benefits of an integrated computer-assisted design (CAD) module within an ERP system?
Managers can track processes that use computer-assisted design throughout an entire manufacturing cycle Managers can monitor the use of materials, machines and labor, and level of completion within CAD processes
To construct relatively simple Gantt charts, which program can be used? More than one answer option may be correct.
Microsoft Excel Apple Numbers
Which company became one of the world's largest merchant service aggregators after it was purchased by eBay in 2002?
PayPal
Of the following software systems, which three make up the suite of products that have integrated with QuickBooks?
Paycycle 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
Which company was formed after Elon Musk's X.com and Peter Thiel's Confinity Inc. merged, when the software that allowed Palm Pilot users to transfer funds to each other had evolved to allow payment transfers over the Internet?
Paypal
Software that businesses use to manage activities in both the internal and external operational environment is known as Enterprise Resource
Planning
What is the overall goal of a decision support system?
Problem solving by providing vital information or indicating areas of influence
In what ways do Enterprise Resource Planning (ERP) systems help organizations improve operational efficiency? More than one answer may be correct.
Provide a centralized database Provide access to data Offer customization
Arguably the most powerful business intelligence (DSS) software available is Business Objects, offered by Germany-based
SAP
Logisticians can minimize costs by having a view of the cost centers within an entire supply chain through which software system?
SCM
Of the following business computer applications, which one offers the manager a single dashboard that integrates reports from multiple logistics software products?
SCM
Providing managers with increased visibility of the entire logistics process so that they can improve the efficiency of the entire system is the primary function of any
SCM
What portion of a firm's executive information system would be responsible for automatically restocking a necessary manufacturing component once it went below a predetermined level?
SCM
Which of the following are manufacturers of enterprise resource planning system software? More than one answer may be selected.
Sage Group Microsoft Oracle
Who are well-known manufacturers of customer relationship management software? More than one answer may be correct.
Salesforce HubSpot FreshSales
Which company sells an inexpensive "Stand" point-of-sale terminal that combines an iPad, a cash drawer, a thermal printer, and a chip/swipe/contactless reader?
Square
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 business intelligence software is owned by Salesforce?
Tableau
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
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
An executive notices that while the company is on track to meet its sales goal for the year, it is not on track to make their bottom line number. How could she use the information provided in the EIS dashboard to figure out where the problem is? More than one answer may be selected.
The executive could drill down into specific areas of the organization to see where spending is higher than budgeted for. The executive could view the graphs to quickly see which departments are underperforming The executive could annotate information on the dashboard, requesting more information from subordinates who work in those departments
How do businesses ultimately benefit from using a CRM to identify the highest revenue customers in a target market, before developing a marketing campaign?
They save time and money from targeting this precise segment of the market
From the following list, select all the sales prospecting tools that are most often integrated with CRM systems.
Zoominfo LinkedIn Sales Navigator Credit Prospector
Which type of system is defined as one that helps make the sales process itself more efficient?
a transaction processing system
From the following list, select the services that PayPal began offering to its business customers in 2012 with PayPal Here.
acceptance of contactless credit card payments acceptance of mobile payments
Recall factors that contribute to the quality of information. More than one answer may be correct.
accuracy relevance timeliness
Which of the following statements best describes the type of business environment that usually requires a decision support system? More than one answer may be correct.
an environment that changes and evolves at a fast pace an environment where problems are typically complex
When investigating a solution, what information is it important for you to identify?
any additional information you may need how much time or money you have available to fix the problem
Certain software systems provide decision makers with information that helps them solve complex problems in rapidly changing environments. Which of the following software systems perform this function? More than one answer may be correct.
business intelligence decision support system
Before the invention of modern transaction processing systems, what other invention had a similar impact on the way that trade was conducted?
cash money
Which of the following has made enterprise resource planning system software available for smaller businesses? More than one answer may be selected.
cloud-based systems offered by large, well-known software companies the ability to scale the size of a system to meet the need of any company
Which of the following processes would operations management systems software be used for in a manufacturing firm?
creating bedroom furniture from lumber
The design of a CRM system that collects data on customer interaction should include which of the following elements?
customer interaction monitoring information on individual customers automation factors
HubSpot, Zoho, and Freshsales focus on
customer relationship management
The element of the supply chain management system that may include payment and demand management, customer service management, and returns management is
customer relationship management
Three functions of CRM include marketing, sales and
customer service
Providing visibility means that the user interface of any SCM remains a critical component. Typically, a user interface comes in the form of a
dashboard
On the flowchart, a decision point is depicted by a(n)
diamond
You and a friend have two rooms in an apartment to paint on the same day. You finish your room and your friend does not. A project manager would say that the job is affected by which scheduling dependency? More than one answer may be correct.
discretionary finish-to-finish
Recommendations can be made with DDS software using artificial intelligence (AI) because
each process advances according to the accuracy of the previous one
If your roommate, spouse, or partner must approve the color before you can begin painting a room, then the project has a(an) ________ dependency on paint selection.
external
Apple has a very high customer equity (CE) value. Apple has gained this high CE value due to
extreme customer loyalty
Which of the following executive information systems software would a babysitting service provider benefit from? More than one answer may be selected.
financial management human resource management marketing management
What presentation tool can serve as a building block to more sophisticated program management tools?
flowchart
Because they allow stakeholders a simple visualization of an entire project, project managers commonly use
flowcharts
What is the essential purpose of a supply chain management system (SCM)?
helps managers anticipate supply issues, such as increased demand or production slowdowns, so they can make quick accommodations
The business world is overwhelmed by data. It estimated that 1.7MB of data is created every second by every person. Data volume has grown substantially in the last few years, when 90% of the world's data has been created. Of the following, what is the most useful fully computerized tool that can directly translate data into decisions and solutions?
high-velocity automated decision making
As an increasing number of retailers use modern business applications technology to process credit card payments more quickly and easily, which device is becoming nearly obsolete?
imprinter
Which of the following have been made nearly obsolete by business applications technology? More than one answer may be correct.
imprinters credit card verification books travelers checks
From the following list, select the additional benefits of integrating ERP systems with financial management systems to provide centralized access and management of financial data.
improved visibility structured compliance architecture the ability to generate financial reports
What is the intended result for a business using customer relationship management (CRM) software? More than one answer may be correct.
increased sales increased market share increased profit
During which phases of a project is project management software used to increase the efficiency of all team members?
initiation, planning, execution, and closure
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 systems
Checks are quickly processed by point-of-sale (POS) stations with the use of
magnetic ink character recognition MICR
What do smaller merchants use to process credit card payments and avoid issues with fund reversals (such as when credit card purchases are returned) or disputes over credit card charges?
merchant service aggregators
The methodology for making decisions in a decision support system (DSS) is known as its
model
Which element of the belief action outcome (BAO) framework explains the methods used to measure and monitor the belief and action steps of the framework?
outcome terminology
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
From the following list, select the technologies that are required for businesses to accept payment via Apple Pay and Google Wallet.
point of sale device near field communication smart mobile phones
Why do project managers use flowcharts? More than one answer may be correct.
provide visualization highlight key decision points alert stakeholders to key points and milestones
From the following list, select all of the performance areas that are typically observed by middle managers and operational managers.
sales employee performance adhere to organizational guidelines
List the way/s supply chain management (SCM) software can be offered. More than one answer may be correct.
stand alone cloud based on premise
Which three of the following make up the major elements of a supply chain management system?
supplier relationship order fulfillment customer relationship
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 manage human resource manage customer relationship manage
Providing managers with increased visibility of the entire logistics process so that they can improve the efficiency of the entire system is the primary function of any
supply chain management
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
Which of the following is a key element of an executive information system? More than one answer may be selected. Check All That Apply
the ability of an executive to highlight areas of interest provide a visualization of whether the organization is one track to meet its goals
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 info is automatically recorded
What piece of the executive information system has become more vital as organizations have become increasingly geographically dispersed?
the communications element
Which of the following statements correctly describe structured management decisions? Select all the correct answer options.
they involve tasks and choices that are routine and frequently related to operations they are regularly made by individual employees and teams They are made easier through the creation of defined processes and procedures
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.
Of the following descriptions, which one accurately applies to slack?
time when one project is waiting for another activity
Explain why managers use customer relationship management systems. More than one answer may be correct.
to target profitable customers to customize marketing messages to improve pricing decisions
