EXAM 1
What is the essential purpose of a supply chain management system (SCM)? A SCM integrates the management of nearly all aspects of an organization in one package. A SCM helps managers anticipate supply issues, such as increased demand or production slowdowns, so they can make quick accommodations. SCM components depend on the product provided, so the purpose varies. A SCM helps manage a firm's interactions with customers using analytics and data analysis.
A SCM helps managers anticipate supply issues, such as increased demand or production slowdowns, so they can make quick accommodations.
What was Weber's view on the use of physical force? At an auto parts manufacturer, a foreman is allowed to use force to speed up workers so quotas are met. A police force overseen by a local government enforces laws within a community A school where teachers were allowed to use physical force to keep students in line A utopian society where no use of force is necessary
A police force overseen by a local government enforces laws within a community
What is conducted in the process modeling step of business process management? Analysts use flowcharts and other tools to depict workflow. Activities are examined and divided into their individual components. The business process execution language engine is run. Managers track the individual components of the process as well as the process as a whole.
Analysts use flowcharts and other tools to depict workflow.
A sophisticated SCM can reduce the impact of the phenomenon that often occurs when small variations in consumer demand create amplified demand variations in the supply chain. This phenomenon is referred to as the Multiple Choice Bulldog effect. Bullwhip effect. Bullwinkle effect. Bologna effect.
Bullwhip effect.
What business management system seeks to streamline an organization's activities to prevent backlogs and inefficiencies? Human Resources Management (HRM) Business Process Management (BPM) Customer Relationship Management (CRM) Employee Benefits Management (EBM)
Business Process Management (BPM)
Businesses that rely on Quickbooks may need a decision support system, but this financial management software for small businesses does not provide one. What other resources are easily available? Quickbooks is developing a DSS that companies can preorder. Business analytics software apps that integrate with QuickBooks are available. DSS services are available to be leased from several major companies. Smaller companies can hire decision makers to handle specific problem solving.
Business analytics software apps that integrate with QuickBooks are available.
How does it most benefit small businesses to have a cash drawer included with the Square Stand? Merchants have a place to collect and store cash. The cash on hand can be locked away with an app. E-commerce merchants can now accept cash. Cash transactions can be recorded with the others.
Cash transactions can be recorded with the others.
Which of the following descriptions accurately apply to three CRM analytics functions? Which of the following does not apply? Customer value and profitability is a function that identifies high-value customers. Personalization is a function that supports customized marketing. Predictive modeling is a function that connects prior information to future decisions. Customer individuation is a function that downgrades unreliable customers.
Customer individuation is a function that downgrades unreliable customers.
What is gathering, storing, and searching relevant data known as? Data Visualization Data Dashboard Big Data Analytics Data Science
Data Science
What typically happens during Step 3 of business process management just before the execution process is fully automated? Analysts examine the process using flowcharts and other tools. Decision makers compare engine output to previous business activity. Processes are divided into individual components. The process is written using software called business processes execution language (BPEL).
Decision makers compare engine output to previous business activity.
Which is the best description of a typical flextime policy? Employees create their own work schedules: they can change when they start and stop their workday. Employees "bank" their work hours: they can work extra hours to earn equivalent paid time off later. Employees take paid family leave: they can take paid time off to manage various family situations. Employees work from anywhere: they can decide whether they need to go to the office or worksite.
Employees create their own work schedules: they can change when they start and stop their workday.
What was the driving principle behind McGregor's Theory X? Employees are capable of working without constant supervision. Managers should focus on the prosperity of the company. Employees need close supervision. Increases (and decreases) in lighting affect employee productivity.
Employees need close supervision.
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? Section 5 of the Federal Trade Commission the Gramm Leach Bliley Act California Consumer Privacy Act Fair Credit Reporting Act
Fair Credit Reporting Act
Normally in a company's overall compensation strategy, employee salary is more important than employee benefits. True or False
False
The stage of the project management (PM) process where the manager documents the lessons learned during the project's execution is called the completion phase. True or False
False
Weber believed that bureaucratic organizations were always inefficient. True or False
False
Select all true statements about CRM analytics from the following. Which of the following does not apply? 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. Information is gathered in personal categories and may be an ethically challenged process.
Information is gathered in personal categories and may be an ethically challenged process.
Which of the following statements best describes Stripe and its services? Multiple Choice It is a merchant service aggregator that offers payment processing software, equipment, and services for e-commerce and brick-and-mortar businesses. It is a merchant service provider that sells or leases payment processing software and equipment for large businesses with a high volume of transactions. It is a full-service online bank that uses its own, proprietary software to process credit card payments for Internet companies, mobile apps, and stores. It is an Internet company that develops and sells transaction processing systems software that can be easily integrated into a company's existing mobile app.
It is a merchant service aggregator that offers payment processing software, equipment, and services for e-commerce and brick-and-mortar businesses.
Which of the following is an advantage provided by an enterprise resource planning system? which one does not apply It provides a unified look at all aspects of an organization.It provides a unified look at all aspects of an organization. Its reports are generally available on mobile devices.Its reports are generally available on mobile devices. It is scalable, so that it is available to both large and small businesses.It is scalable, so that it is available to both large and small businesses. Its unified reporting system allows businesses to reduce their IT costs.
Its unified reporting system allows businesses to reduce their IT costs.
From the following list, select all the sales prospecting tools that are most often integrated with CRM systems. Zoominfo LinkedIn Sales Navigator Clearbit Prospector Oracle DB 19C
LinkedIn Sales Navigator
What did Peter Drucker mean by "decentralization"? Multiple Choice Organizations work at what they do best and have a comparative advantage and outsource the work at which they have no advantage. Organizations break down into units that focus on a specific function. Organizations adapt their marketing plan to address regional concerns. Organizations expand their geographic footprint in order to touch more customers.
Organizations work at what they do best and have a comparative advantage and outsource the work at which they have no advantage.
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? Multiple Choice PayPal QuickBooks Square Stripe
PayPal
Which of the following statements best explains why sleep is a factor in work-life balance? Sleep is important to memory and brain health People have different needs for sleep and can adjust accordingly. Oversleeping when working at home should be avoided. Working from home often means that sleep hours are inconsistent.
People have different needs for sleep and can adjust accordingly
Who is quoted as saying "Do what you do best and outsource the rest"? Max Weber Douglas McGregor Elton Mayo Peter Drucker
Peter Drucker
Which of the following is the data analytics software platform run by Google? Tableau SAP Analytics CloudLooker Power BI
Power BI
Logisticians can minimize costs by having a view of the cost centers within an entire supply chain through which software system? HRM SCM Transaction PM
SCM
Peter Drucker felt the most important responsibility of a corporation is to serve its customers. make a profit. diversify its portfolio. hire from within.
Serve its customers
Why are social media sites, such as Facebook, TikTok, and LinkedIn, valuable sites for companies looking to purchase third-party data? Social media users willingly share personal information on these sites that companies can use to specifically target advertisements and promotions. Few social media users read the terms of service and understand how their data is being used. Most social media users are in the highly profitable 18- to 35-year-old age range. Social media users represent a cross-section of the overall audience for most products.
Social media users willingly share personal information on these sites that companies can use to specifically target advertisements and promotions.
What idea or concept does Adam Smith propose in his Invisible Hand theory? A free, unregulated market operates better than one in which the government controls the business activities of individuals and companies. Some people are better suited to certain types of labor than others, and they should be guided toward those positions by others. A nation will naturally accumulate wealth over time if it divides and assigns essential labor to its citizens and taxes individual wealth. A nation's wealth depends on its acquisition of colonies that are rich in natural resources and enable increased trade with other nations.
Some people are better suited to certain types of labor than others, and they should be guided toward those positions by others.
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? Multiple Choice Square PayPal Canvas Stripe
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 Streamlined Data Collection End User Needs Demonstrated CRM Value
Standardized Data Collection Processes
Which step of business process management allows managers to create a continually improving process? Step 5: process optimization Step 1: process design Step 4: process monitoring Step 3: process execution
Step 5: process optimization
Which system is able to create purchase orders, manage inventory, and forecast future inventory needs? Multiple Choice Marketing information system Mobile POS system Supply chain management system Decision support system
Supply chain management system
Which statement best describes the current landscape or state of human resource management software and/or service providers? Multiple Choice There are a variety of HRM companies that serve different business needs. Today's largest HRM systems are used by national armed forces around the world. The field of HRM is dominated by three companies: SAP, IBM, and Oracle. Large HRM companies are the only providers of complete HRM systems.
There are a variety of HRM companies that serve different business needs.
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 gain demographic information that is useful for targeting diverse segments. They save time and money by targeting this precise segment of the market. They better understand their ideal customer for their product or service. They can learn the highest price they may charge for a product or service.
They save time and money by targeting this precise segment of the market.
Data visualization software is so valuable today because it assists managers by examining large quantities of data and parsing it into usable information. True Or False
True
Organizations can use CRM software to help them identify marketing qualified leads (MQLs). True or False
True
Troy has a customized business management system that he likes. However, it cannot easily scale up to meet his growing database storage needs, offers poor protection from hackers, and requires maintaining a large IT department. Troy should replace this system with an on-premises option. a custom, off-the-self option. a custom, cloud-based solution (PaaS or IaaS). a software as a service (SaaS) system.Incorrect
a custom, cloud-based solution (PaaS or IaaS).
Choose a phrase from below that pinpoints when in-person meetings may be a better choice than video conferencing. businesses direct all employees to work remotely a meeting's content is sensitive expense is not a major consideration middle managers need quick project status updates from line managers
a meeting's content is sensitive
In addition to advancements in computer hardware, what drove improvements to POS (point-of-sale) systems in the 1990s? an increasingly diverse group of users and their needs a marked increase in data storage an increasing number of products on the market the advent of the barcode
an increasingly diverse group of users and their needs
Employee monitoring software Accesses cloud-based applications to track employee performance. Spot-checks any single monitor as needed from a mobile phone or tablet. Observes computer use of all employees from a central location. Applies a network Internet filter to capture and record keystrokes.
applies a network Internet filter to capture and record keystrokes.
Many managers, particularly in smaller firms, use companies such as Zenefits and BenefitFocus to manage their employees benefits systems. hiring practices. recruiting efforts. evaluation processes.
benefit systems
How did the first cash registers "register" a transaction? Multiple Choice by subtracting the number of purchased items from inventory totals by recording the information needed to follow up on an "IOU" or check by adding its value to the total amount of payments already received by calculating how much change the customer was owed from a payment
by adding its value to the total amount of payments already received
How do CRM systems make it easier for businesses to target a market segment? Which of the following does not apply? by providing a variety of analytical tools, including some for identifying and understanding the target market by collecting data from customer transactions, which can be used for target market identification by helping organizations precisely identify their target markets and best utilize resources when marketing to potential and existing customers by making the relatively simple process of target market identification even easier to conduct than without a CRM
by helping organizations precisely identify their target markets and best utilize resources when marketing to potential and existing customers
What is the MOST direct way in which customer relationship management (CRM) systems can help businesses increase their sales? Multiple Choice by helping them maintain their customers' satisfaction levels by helping them identify and attract prospective customers by synchronizing customer data from multiple business areas by facilitating customers' transactions with the business
by helping them identify and attract prospective customers
From the following list, select the payment methods that small retailers can now process quickly using business applications technology. which one does not apply credit cards debit cards mobile payments (Apple Pay, Google Wallet, etc.)mobile payments (Apple Pay, Google Wallet, etc.) cash
cash
Mary Parker Follett defines the elements of a successful business as specialization and division of labor. clarity and top-down direction. observation and awareness of value. competence and expertise
competence and expertise
From the following list, select all the vital functions of customer relationship management (CRM) systems for businesses. Which of the following does not apply? managing critical relationships helping synchronize customer interactions providing insights into customer satisfaction metrics creating accounting information
creating accounting information
Sales managers must identify the customer leads that best fit the company's goals. CRM assists in this aspect of a company's sales process, which is known as customer segmentation. marketing reach-out. customer qualification. customer retention.
customer qualification.
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? supply chain management human resources management customer relationship management marketing management
customer relationship management
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? recruiting and hiring system customer relationship management system employee evaluation system inventory management system
customer relationship management system
Executive information system (EIS) software is a version of Multiple Choice supply chain management (SCM) software. human resources management (HRM) software. decision support system (DSS) software. manufacturing operations management (MOM) software.
decision support system (DSS) software.
Because accurate tracking of employee performance will always be critical to good management, most firms invest in a software that manages Multiple Choice compensation levels. recruiting and hiring. benefits administration. employee evaluation.
employee evaluation.
To provide senior management with visibility of nearly all aspects of an organization's operations many firms integrate their SCM apps with their employee compensation system. employee benefits management system. project management system. enterprise resource planning system.
enterprise resource planning system.
One of the benefits of using a CRM system is that data can be analyzed and provided to assist in measuring the value that the future lifetime revenue an organization's customers will generate minus customer acquisition costs and customer retention costs. This value is referred to as customer Multiple Choice equity. expenditures. revenue. enterprise.
equity.
The value that the future lifetime revenue an organization's customers will generate minus customer acquisition costs and customer retention costs is called customer gain. investment. equity. value.
equity.
What is conducted in the process design step of business process management? The business process execution language engine is run.Activities are examined and divided into their individual components. Analysts use flowcharts and other tools to depict workflow. Managers track the individual components of the process as well as the process as a whole.
examined and divided into their individual components.
"Green computing" is another term for "telecommuting," given the many ways in which telecommuting helps to conserve resources and protect the environment. Group startsTrue or False
false
Major corporations often manage their employee compensation plans through web-based services. True or False
false
What do customer relationship management (CRM) systems help businesses to do to retain their existing customers? More than one answer may be correct.Which of the following does not apply? maintain customer engagement provide services to customers measure customer satisfaction measure customer satisfaction identify customers' lifetime value
identify customers' lifetime value
A new app was released providing consumers with digital coupons for products the consumer indicates they frequently purchase. The app gives different users coupons with different values and shares purchasing as well as demographic information with the product manufacturer. Under what circumstances would the information sharing with product manufacturers be ethical? if the app ensured that their targeting was not discriminatory based on race, ethnicity, gender, age, or disability if the app's terms of service indicated who they would be sharing information with and what information would be shared if the app's terms of service indicated that different users would receive different discount values This scenario is never ethical.
if the app's terms of service indicated who they would be sharing information with and what information would be shared
What is the intended result for a business using customer relationship management (CRM) software? Which does not apply increased sales increased market share increased profit increased production
increased production
Customer interaction encompasses all communication between a customer and an organization. A customer relationship management system (CRM) captures interactions from which three of the following sources? Which does not apply? email social media traditional mail internal communications
internal communications
Descriptive data about a customer includes categories such as customer service history. personal email. transaction history. lifestyle and career.
lifestyle and career.
Which of the following business applications would an enterprise resource planning (ERP) systems software support? More than one answer may be selected. Check All That Apply logistics systems financial and accounting systems customer resource management systems database file management system
logistics systems customer resource management systems
The development and growing popularity of flextime arrangements can largely be attributed to the low costs of personal computers for employees and management information systems (MIS) for employers. the spread of high-speed Internet and technologies such as telecommuting and teleconferencing. long periods of low unemployment and fierce competition for competent workers at all skill levels .the rise of strong workers' unions that can negotiate fair flextime policies with corporate employers.
long periods of low unemployment and fierce competition for competent workers at all skill levels.
Which of the following have been made nearly obsolete by business applications technology? Which one does not apply imprinters ("knuckle-busters")imprinters ("knuckle-busters") Correct credit card verification books travelers checks mobile payments
mobile payments
List steps organizations who employ a CRM system can take to protect customer data. Which does not apply? server security proper CRM administration CRM software updates on-site storage only
on-site storage only
Fayol's principles for structuring organizational roles and authority emphasize science-based practices, so that data guides decisions on hiring, assignments, and promotions.esprit de corps, so that employees can join together and collectively wield power from the bottom up. order and unity, so that employees understand their role and report to only one person. stability and security, so that trained backup workers are always available to managers.
order and unity, so that employees understand their role and report to only one person.
Which stage of the project management process involves meetings with project stakeholders to ensure everyone understands their role in the project? Multiple Choice initiation modeling planning design
planning
What is the overall goal of a decision support system? Multiple Choice allowing airports to serve more aircraft daily by moving it away from peak times. supporting the management skills of all managers who use the software. problem solving by providing vital information or indicating areas of influence. improving systems through computerization, especially with advanced hardware.
problem solving by providing vital information or indicating areas of influence.
The third step in business process management provides managers the ability to play the "what-if" game by changing input variables (abstract) decision making. This step is called Multiple Choice process execution. process monitoring. process design. process optimization.
process execution.
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 step is called Multiple Choice process optimization .process design. process execution. process monitoring.
process monitoring.
What is Frederick Taylor's four principles of scientific management? task specialization, clear lines of authority, value of communication, and management training division of labor, strong organizational communication, employee retention, and team unity ethical productivity, task measurement, lean manufacturing, and division of labor task measurement, employee development, worker-manager collaboration, and management training
task measurement, employee development, worker-manager collaboration, and management training
The concept of "share of customer" focuses on getting Multiple Choice the biggest share of the market. the most business from the most customers. the most business from the fewest customers. the business of the newest customers.
the most business from the fewest customers.
What are Big Data Analytics? a system that seeks to manage a firm's interactions with customers by using data analysis to identify valuable customers and target future customers a system that accurately determines reordering points and order quantity levels Business Process Management that seeks to streamline an organization's activities the technology and processes used to gain intelligent, usable information from applicable databases across the internet
the technology and processes used to gain intelligent, usable information from applicable databases across the internet
Advances in MIS technology can help tech-savvy small businesses lure ambitious managers away from larger, more established businesses that are slow to adopt new technology. True or False
true
By allowing managers to model, analyze, and improve business processes through automation, business performance management (BPM) systems streamline organizations' activities. True or False
true
While a decision support system can analyze and interpret a large amount of rapidly changing data, it cannot provide the analysis needed to ultimately make the decision. True or False
true
