CH 7 Business Management Systems smartbook
Select three examples of why inventory management is often critical to business success.
An electronics retailer must mark down outdated smartphones. 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.
What is conducted in the process modeling step of business process management?
Analysts use flow-charts and other tools to depict workflow.
Ayala has decided to implement a new business management system. What are two advantages of hosting on-premises?
Any changes deemed necessary can be implemented extremely quickly. It can be configured to meet the unique needs of the organization.
The technology and processes used to gain intelligent, usable information from applicable databases across the Internet is referred to as ___ .
Big data analytics
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
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 correct Reason: This choice should be selected.
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
Calculating re-ordering points and order quantity levels are key advantages of modern ___ .
Inventory Management Systems
The first step in business process management examines business activities and breaks them down into their individual components. This is called the process
design
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
evaluation
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
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
initiation
management information systems provide managers with tools to assist them in using this data to make better choices.
making
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 correct Reason: Correct. An on-premises solution provides the organization with complete control of the management system.
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.
Select two objectives that might typically be accomplished during the planning phase (the second stage) of the project management process.
A meeting with project stakeholders is convened allowing these key players to review the Gantt chart and the project timeline. A Gantt chart is created or fine-tuned if one was started during the feasibility study.
Business management systems need three major components in order to provide the services expected by today's managers. These include:
A predictive information system correct Reason: This choice should be selected. A predictive information system assists managers with handling contingencies. A decision-making information system correct Reason: This choice should be selected. Decision-making information systems integrate the DBMS with the predictive information systems to assist managers in making decisions. A database management system (DBMS) correct Reason: This choice should be selected. A database management system is a key component of a business management system as it provides a means of storing and finding information.
What is conducted in the process design step of business process management?
Activities are examined and divided into their individual components.
Select three objectives that might typically be accomplished during the closure phase (the last stage) of the project management process.
All associated contracts are ended. Managers document the lessons they learned during the project's execution. Stakeholders discuss how closely the project met expectations.
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
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) matches Choice This uses data mining techniques combines and then adds data visualization tools so that managers can make faster, more informed, decisions. Data mining matches Choice This accesses external databases as well as data that the firm has collected itself (internal data). Predictive analytics matches Choice This uses algorithms to determine the most likely outcomes given a set of inputs. Visualization tools matches Choice These display information in a manner that make it easier for managers to assimilate or to see patterns.
The use of machinery to assist in employee management began during the late 19th century when time clocks with punch __ were developed to track employee work hours.
Cards
When implementing a new business management system, which option provides managers with the greatest degree of control?
Choice On-Premises Option
Inappropriate and inconsistent pay can demotivate the strongest workforce, for this reason, many firms use ___.
Compensation management software correct Reason: Correct. Employee compensation (comp) strategy can make or break a corporation.
Match the following. Which is a project and which requires management but is not a project?
Constructing an office building matches Choice Is a project requiring the use of project management software Renting office space in the building matches Choice Requires management, but is not a project that would use project 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 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
Match the business management component with its function.
Database management system (DBMS) matches Choice Provides a means of storing and finding information Predictive information system matches Choice Models trends and attempts to predict outcomes Decision-making information system matches Choice 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 3 activities that typically fall under the purview of an HR manager.
Fraternization policies correct Reason: This choice should be selected. Discrimination, harassment, and fraternization policies clearly fall under the purview of the human resources department. Dress policies correct Reason: This choice should be selected. Dress policies, gifts, meals, and break policies typically fall to the HR director. Employment agreements correct Reason: This choice should be selected. Because of the legal ramifications of employment agreements, HR managers must be familiar with the latest rulings.
Which of the following is a tool commonly used by project managers?
Gantt chart correct Reason: Correct. PM software allows managers to make use of Gantt charts, and implement the four major phases of the PM process.
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
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?
How will the new system interact with existing systems? Where will the new system be housed? Is the change worth the expense and impact on employee morale?
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. matches Choice Recruiting and Hiring Software Whether the firm uses primarily hourly, salaried, or independent contractors; ensuring that these employees are paid correctly matches Choice Compensation Management Software Documenting employee performance and providing an equitable means of ranking performance. matches Choice 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.
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.
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
What is conducted in the process optimization step of business process management?
Managers adapt (modify) the process to enhance process performance. correct Reason: Correct. By identifying potential slowdowns or savings opportunities, the process optimization step allows managers to create a continually improving process.
What occurs during the process monitoring 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.
In the second step in business process management, analysts use flow-charts to depict workflow and the sequence of operations and decision points. This is called the process ___ step.
Modeling
Computer chips double in computing power roughly every 18 months. This phenomenon is called:
Moore's Law
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 correct Reason: Correct. Moore's Law was first described by Gordon Moore, co-founder of Intel Corporation, who noticed the phenomenon with the computer chips his firm developed.
Select 2 reasons for the increased efficiency of modern inventory management systems.
More accurate estimates of re-ordering points Improved forecasts of order quantity levels
Select three popular inventory management systems.
Oracle NetSuite QuickBooks Enterprise SAP Material Management (SAP MM)
Select 3 common services provided by project management (PM) systems software.
Permissions levels Visual project depictions Document storage
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 two technologies that advanced the efficiency of inventory management systems.
Radio Frequency Identification (RFID) Universal Product Codes (UPC)
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
Select three methods businesses use to house a business management system.
SaaS solution On-premises custom solution Customized, cloud-based solution (PaaS or IaaS)
Select three common features of modern data visualization tools that accompany most business intelligence (BI) systems.
Search capabilities Scroll-over features Dashboard presentation
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. All associated contracts are ended. Managers document the lessons they learned during the project's execution.
Select three major data analytics software platforms.
Tableau by Salesforce Oracle Analytics Cloud SAP Analytics Cloud
What is conducted in the process execution step of business process management?
The business process execution language engine is run.
BI 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
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
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, internet, or web
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) correct Reason: Correct. Cloud storage sites are typically hardened and deploy substantial security systems that can significantly reduce the risk of hackers. Additionally, server size can easily be scaled as business management software requirements increase.
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
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
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
execution
The first stage of the project management (PM) process, in which project objectives are identified and feasibility studies are conducted is the ___ phase.
initiation
The project management (PM) process has 4 phases. Place the phases in order with the first phase at the top.
initiation planning execution closure
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
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
planning
Employee compensation software at major corporations is often included as part of its enterprise resource
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
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 correct Reason: Correct. Businesses such as HubSpot CRM, Zoho CRM, and Freshsales CRM focus primarily on meeting the CRM needs of smaller businesses that might not use a full enterprise resource planning system.
