Chapter 1 Assignment

Competitive Scope: 1. Broad Market 2. Narrow Market Cost Strategy: 3. Low Cost 4. High Cost

1. Wal-Mart 2. Neiman Marcus 3. DSW Shoes 4. Tiffany & Co.

1. Data 2. Information 3. Business Intelligence 4. Knowledge

1. amount sold 1. customer number 1. quantity ordered 2. best selling product 2. best customer 2. worst-selling product 2. worst customer 3. lowest sales per week compared with interest rates 3. best selling product by month compared to sports season wins 4. choosing not to fire a sales representative who is underperforming knowing that person is experiencing family problems 4. listing products that are about to expire first on the menu

1. Variety 2. Veracity 3. Volume 4. Velocity

1. different forms of structured and unstructured data data from spreadsheets and databases as well as from email, videos, photos, and pdfs, all of which must be analyzed 2. the uncertainty of data, including biases, noise, and abnormalities uncertainty or unworthiness of data data must be meaningful to the problem being analyzed must keep data clean and implement processes to keep dirty data from accumulating in systems 3. the scale of data includes enormous volumes of data generated daily massive volume created by machines and networks big data tools necessary to analyze zettabytes and brontobytes 4. the analysis of streaming data as it travels around the internet analysis necessary of social media messages spreading globally

1. Data 2. Information 3. Business Intelligence 4. Knowledge

1. raw facts that describe the characteristics of an event or object 1. order date 2. data converted into a meaningful and useful context 2. worst-selling product 3. information collected from multiple sources that analyze patterns, trends, and relationships for strategic decision making 3. lowest sales per week compared with interest rates 4. the skills, experience, and expertise, coupled with information and intelligence that creates a person's intellectual resources 4. choosing not to fire a sales representative who is underperforming knowing that person is experiencing family problems 4. creating daily specials based on items that are about to expire first

1. Structured data 2. Unstructured data

1. sensor data, weblog data, financial data, click-stream data, point of scale data, accounting data 2. satellite images, photographic data, video data, social media data, text message, voice mail data

1. Analytics 2. Business analytics 3. Prescriptive analytics 4. Predictive analytics 5. descriptive analytics

1. the science of fact-based decision making 2. the scientific process of transforming data into insight for making better decisions 3. uses techniques that create models indicating the best decisions to make or course of action to take 4. uses techniques that extract information from data and uses it to predict future trends and identify behavioral patterns 5. uses techniques that describe past performance and history

Competitive Scope: 1. Broad Market 2. Narrow Market Cost Strategy: 3. Low Cost 4. High Cost

Cost leadership: entering a new market reaching a large market segment offering a broad range of products at low prices Differentiation: entering a new market reaching a large market segment offering a broad range of differentiated products at high prices Focused: entering a new market reaching a small market segment offering a specific differentiated product at a high price or as a low-cost provider 1. Cost leadership strategy & Differentiation strategy 2. Focused strategy 3. Cost leadership strategy & Focused strategy 4. Differentiation strategy & Focused strategy

Businesses exchange goods and services for __________.

a profit

Which of the following describes buyer power in the movie industry?

high

Which of the following represents the relationship between the functional areas at Chicago Rush?

interdependent

Which of the following represents rivalry among existing competitors in the movie industry?

renting a movie from Redbox

Barb, a single mother of five children, chooses to go to DSW Shoes to purchase her children's shoes rather than shopping at Zappos.com. This is an example of which of Porter's Five Forces?

rivalry among existing competitors

Zappos packs and ships between 30,000 and 60,000 shoes every day. This is an example of _____________ in Porter's Five Forces.

supplier power

What is a way of monitoring an entire system by viewing multiple inputs being processed or transformed to produce outputs while continuously gathering feedback on each part?

systems thinking

How would you describe Tom Lennon's competitive advantage in the movie industry?

temporary

BigFoot.com is a new online shoe retailer that just hit the market. If a customer chooses to shop at BigFoot.com rather than Zappos, this is an example of which of Porter's Five Forces?

threat of new entrants

Ideal Shoes is a new company that offers in-home shoe customization where a customer can digitally scan his or her entire foot and the company will make custom shoes specific for the customer's foot shape and size. This is an example of which of the following of Porter's Five Forces?

threat of substitute products or services

Which of the following represents data being turned into information in the movie industry?

top box office movie release for the month of December

1. Internet of things (IoT) 2. Machine to machine (M2M) 3. Structured data 4. Unstructured data 5. Machine generated data 6. Human generated data 7. Machine generated unstructured data 8. Human generated unstructured data

1. A world where interconnected Internet-enabled devices or "things" have the ability to collect and share data without human intervention. 2. Refers to devices that connect directly to other devices. 3. A defined length, type, and format and includes numbers, dates, or strings such as Customer Address. 4. Not defined and does not follow a specified format and is typically free-form text such as emails, Twitter tweets, and text messages. 5. Data created by a machine without human intervention. 6. Data that humans, in interaction with computers, generate. 7. Includes satellite images, scientific atmosphere data, and radar data. 8. Includes text messages, social media data, and emails.

1. Goods 2. Services

1. Cars, groceries, clothing, computers, jewelry, books, magazines, ice cream, material items or products that consumers will buy to satisfy a want or need 2. Teaching, waiting tables, cutting hair, doctor, dentist, massage therapist, cleaning business, package delivery business, tasks performed by people that customers will buy to satisfy a want or need

1. Chief User Experience Officer 2. Chief Data Officer 3. Chief Intellectual Property Officer 4. Chief Automation Officer 5. Chief Sustainability Officer

1. Creates the optimal relationship between user and technology 2. Responsible for determining the types of information the enterprise will capture, retain, analyze, and share 3. Manages and defends intellectual property, copyrights, and patents 4. Determines if a person or business process can be replaced by a robot or software 5. Oversees the corporation's "environmental" programs such as helping adapt to climate change and reduce carbon emissions

1. Input 2. Process 3. Output 4. Feedback

1. Data that is entered in a computer 2. Computer program that processes the data 3. The resulting information from the computer program 4. Controls to ensure correct processing

1. Support Value Activities 2. Primary Value Activities

1. Firm infrastructure, HR management, technology development, procurement 2. Receive & store raw materials, make the product or service, deliver the product or service, market & sell the product or service, service after the sale

1. Input 2. Process 3. Output 4. Feedback

1. Gas: a person fills the car w/gas 2. Engine: the internal combustion engine uses gas to create energy to move the car 3. Pedal: a person pushes the gas pedal & the car moves 4. Warning Light: turns on indicating that the gas level is low

1. Input 2. Process 3. Output

1. Lettuce, tomatoes, patty, bun, ketchup 2. Cook the patty, put the ingredients together 3. Hamburger

1. Accounting 2. Finance 3. HR 4. Marketing 5. Operations Management 6. Sales

1. Records, measures, & reports monetary transactions 2. Tracks strategic financial issues including money, banking, credit, investments, and assets 3. Maintains policies, plans, and procedures for the effective management of employees 4. Supports sales by planning, pricing, & promoting goods or services 5. Manages the process of converting or transforming of resources into goods or services 6. Performs the function of selling goods or services

Organization: 1. Partners/Suppliers 2. Shareholders/Investors 3. Community 4. Employees 5. Customers 6. Government

1. Reliable contracts, ethical materials handling, responsible production 2. Maximize profits, grow market share, high return on investment 3. Professional associations, ethical recycling, increase employment 4. Fair compensation, Job security, Ethical conduct/treatment 5. Exceptional customer service, high-quality products, ethical dealing 6. Adhere to regulations/laws, increase employment, ethical taxation reporting

1. Chief Security Officer 2. Chief Technology Officer 3. Chief Privacy Officer 4. Chief Information Officer 5. Chief Knowledge Officer

1. Responsible for ensuring the security of business systems and developing strategies & safeguards against attacks by hackers & viruses 2. Responsible for ensuring the speed, accuracy, availability, & reliability of the MIS 3. Responsible for ensuring the ethical and legal use of information within a company 4. Responsible for overseeing all uses of MIS & ensuring that MIS strategically aligns with business goals and objectives 5. Responsible for collecting, maintaining, and distributing company knowledge

1. Evaluates Project Position 2. Evaluates Industry Attractiveness 3. Chooses Business Focus 4. Executes Business Strategy

1. SWOT analysis 2. The five forces model 3. The three generic strategies 4. Value chain analysis

1. Threat of substitute products or services 2. Buyer power 3. Rivalry amongst existing competitors 4. Threat of new entrants 5. Supplier power

1. Substitutes include cars, bus, or train 2. Many airlines force buyers to choose from the competition based on price Travelocity.com, Kayak.com 3. Airlines have price wars in an effort to attract new customers; competition 4. New airlines enter the market all the time; new sky taxi 5. There are a limited number of plans and engine manufacturers from which to choose, and unionized workers are a large expense

1. Threat of substitute products or services 2. Buyer power 3. Rivalry amongst existing competitors 4. Threat of new entrants 5. Supplier power

1. The power of customers to purchase alternatives 2. The power of customers to drive down prices 3. The power of competitors 4. The power of competitors to enter a market 5. The power of suppliers to drive up prices of materials

1. Accounting 2. Finance 3. HR 4. Marketing 5. Operations Management 6. Sales

1. Transactional data, purchasing data, payroll data, tax data 2. Investment data, monetary data, reporting data 3. Employee data, promotion data, vacation data 4. Promotion data, sales data, advertising data 5. Manufacturing data, distribution data, production data 6. Potential customer data, sales report data, commission data, customer support data

1. Behavioral analysis 2. Correlation analysis 3. Exploratory analysis 4. Pattern Recognition analysis 5. Social Media analysis 6. Speech analysis 7. Text analysis 8. Web analysis

1. Using data about people's behaviors to understand intent and predict future actions. 2. Determines a statistical relationship between variables, often for the purpose of identifying predictive factors among the variables. 3. Identifies patterns in data, including outliers, uncovering the underlying structure to understand relationships between the variables. 4. The classification or labeling of an identified pattern in the machine learning process. 5. Analyzes text flowing across the Internet, including unstructured text from blogs and messages. 6. The process of analyzing recorded calls to gather information; brings structure to customer interactions and exposes information buried in customer contact center interactions with an enterprise. 7. Analyzes unstructured data to find trends and patterns in words and sentences. 8. Analyzes unstructured data associated with websites to identify consumer behavior and website navigation.

Which category of analytics will knowledge workers use to perform their jobs?

Descriptive analytics techniques that describe past performance and history. Predictive analytics techniques that extract information from data and use it to predict future trends and identify behavioral patterns. Prescriptive analytics techniques that create models indicating the best decision to make or course of action to take. All answer choices are correct.

Why is it important for employees at 1154 LILL to study management information systems?

MIS is everywhere in business, and you need to understand it to compete in today's global economy.

1. Internal 2. External 3. Helpful 4. Harmful

Strengths: core competencies, market leaders, cost advantages, excellent management Weaknesses: lack of strategic direction, obsolete technologies, lack of managerial talent, outdated product line Opportunities: extended product line, increase in demand, new markets, new regulations Threats: new entrants, substitute products, shrinking markets, costly regulatory, requirements 1. Strengths & Weaknesses 2. Opportunities & Threats 3. Strengths & Opportunities 4. Weaknesses & Threats

How would you characterize Tom Lennon's skills and experience in the movie industry?

Tom Lennon has extensive knowledge of the movie industry.

Which of the following refers to applications and technologies that are used to gather, provide access to, and analyze data and information to support decision-making efforts?

business intelligence

At Zappos, customer loyalty programs are critical for success. Companies use loyalty programs to influence which of the following of Porter's Five Forces?

buyer power

Who is responsible for determining the types of information the enterprise will capture, retain, analyze, and share?

chief data officer (CDO)

Which of the following represents the threat of substitute products or services in the movie industry?

choosing to go bowling instead of watching a movie

Where is Zappos competing in terms of Porter's three generic strategies?

low-cost narrow market