Chapter 2
Which of the following should a business follow for success?
Business processes should drive technology choices
Market share =
Company's Sales / Total market sales for the entire industry
What type of process includes order processing, customer service processing, sales processing, customer billing processing, and order shipping processing?
Customer-facing processes
Which of the following is an example of a "Business-facing" or "back-office" process?
giving employee performance feedback and rewards
A business decision relating to how much inventory is currently in the warehouse, would be addressed at the ______ level.
operational
Which of the following is NOT an example of a KPI?
Hire and retain the best employees
Which type of model represents the current state of the operation that has been mapped, without any specific improvements or changes to existing processes?
As-Is process model
What is the process of continuously measuring system results, comparing those results to optimal system performance, and identifying steps and procedures to improve system performance?
Benchmarking
What is drill-down?
Enables users to view details, and details of details, of information
Which of the following is NOT of the Managerial Decision-Making Challenges identified in the textbook?
Managers need to rethink routine decision-making patterns.
_______ is a category of Artificial Intelligence that attempts to emulate the way the human brain works.
Neural networks
It has been said that the difference between static and dynamic processes is similar to the difference between throwing a rock in the air versus throwing a bird in the air. Why does this analogy work?
Rocks and static processes can be predicted more easily than birds and dynamic processes
What is a special case of what-if analysis that studies the impact on other variables when one variable is changed repeatedly?
Sensitivity analysis
Which of the following is an efficiency metric?
System Availability
Which of the following is an example of a structured decision?
What inventory reorder level should be used?