is
Six Sigma techniques seek to reduce variance in output to less than how many errors per 1,000,000 manufacturing steps?
3.4
Which of the following is an example of a process that uses Six Sigma techniques? More than one answer may be selected.
A dentist office has dental hygienists use premeasured teeth polisher to reduce the amount of polisher they need to buy. A food manufacturer that sells canned goods has a manufacturing process in place that will not factory seal and label cans until the desired weight has been confirmed to be within .01 oz of the desired weight.
Which of the following scenarios describes a situation that would benefit from a mobile POS system? More than one answer may be correct.
A pop-up art space is opening downtown. They will be in their retail space for two months before closing up shop and hope to sell the works of three local artists. They would like to use one system to manage inventory, purchasing and customer payment. Mike's Mechanics is a local autobody shop. Mike is planning on opening a second location in a different town and wants sales information for both shops to be available to him from whichever location he is working at.
Which of the following companies popularized the use of personal computers? More than one answer may be correct.
Apple IBM
How might a professor use an LMS to keep track of attendance in a class that is held face to face?
At the beginning of each class period, students are required to use clickers to take a brief multiple-choice test to indicate they are present.
decision-making software or apps
Automating some decision making can reduce managers' responsibilities and/or workloads to the extent that their job hours are reduced.
What business management system seeks to streamline an organization's activities to prevent backlogs and inefficiencies?
Business Process Management (BPM)
Business Process Management (BPM)
By allowing managers to automate business processes through modeling, analyzing, and improving efficiencies, business process management (BPM) systems streamline organizations' activities to prevent backlogs and inefficiencies.
Mary Parker Follett
Competence and expertise are essential to an organization, according to Follett.
Why is MIS critical in the implementation of Six Sigma techniques?
During the Measure and Analyze steps of the Six Sigma procedure, collecting data and using data analytics are essential, particularly when measuring variances in products or processes. In the Measure and Analyze steps of the Six Sigma process, analysts commonly use tools such as scatter diagrams, histograms, and Pareto charts to determine the cause of any variances that were found during the data collection and analytics process.
Hawthorne Theory
Elton Mayo learned that employees are more productive when they are observed
green computing
Email and digital media use fewer resources for communication than regular mail and printing; energy-efficient computers and servers, and greater numbers of telecommuters, also conserve resources and help protect the environment.
Employee monitoring
Employee monitoring technology provides networkwide tracking service.
What is the goal of the process design step of business process management (BPM)?
Identify redundancies and inefficiencies in existing processes.
cloud computing
In order to take advantage of the benefits of cloud computing, companies must ensure they have established a quick and reliable Internet connection.
LMS
In order to use an LMS to take attendance, an instructor must utilize it in a way that is logical and doesn't take too much class time. A brief quiz will indicate to the professor who was there at the start of class to answer the questions on the quiz.
How does a first-mover firm's ability to develop logistics and acquire raw material ahead of competitors impact success? More than one answer may be correct
It increases the firm's ability to bring out new products quickly* It is especially important if materials are hard to find.* It saves the firm money because raw materials are available early. It allows the firm to shift from manual production to assembly line production.
mainframe computers
Mainframes are used for transaction process systems, database operations, and enterprise resource planning, which entails integrating day-to-day operations and planning.
Elton Mayo
Mayo believed that employees needed to feel they were of significant economic value and emphasized the importance of interpersonal relationships and business. Showing a sales manager how they can help their reps achieve sales goals demonstrates their economic value, as does updates on the amount of revenue generated by a campaign that an employee worked on. Monetizing the amount that referrals contribute to a business and celebrating the people who have contributed the most both strengthens interpersonal relationships and demonstrates economic value
Douglas McGregor
McGregor developed "Theory X," and "Theory Y," which maintained that managers' behavior relied on their beliefs about their employees.
Who published "How Competitive Forces Shape Strategy" in the Harvard Business Review in 1979?
Michael E. Porter In 1979, Professor Michael E. Porter published "How Competitive Forces Shape Strategy" in the Harvard Business Review. He discussed the forces that all organizations must deal with to succeed or stay in business. These forces, known as "Porter's 5 forces," include existing competitors, new competitors, suppliers, customers, and substitutes.
Monopolistic competition
Monopolistic competition means creating a brand image that customers perceive offers greater value than a competitor's products. Nike has created a brand image that customers perceive as offering a product of better quality than others. Therefore, Nike can charge higher prices for their products than competitors.
An electrical company has decided to open a new location in California. While it will be relocating a small percentage of executives to this new location, most employees will need to be hired from the local area. The company uses its human resource information system to sort resumes based on key words used to describe skills, college attended, and number of years' experience. Any resumes that do not fit within these parameters are not scheduled for in-person interviews. What function is this HR management system helping the company perform?
Recruiting
SQL
SQL stands for Structured Query Language
What occurs in the process execution step of business process management?
The business process execution language engine is run.
cash registers
The first cash registers included an adding machine that counted the cash that entered or left the drawer. At the end of a shift, a shop owner could easily confirm the calculated total and detect theft.
five steps of business process management (BPM)
The five steps of business process management (BPM) in order are: examining the design of the process, modeling the process, running the process, monitoring the process, and initiating process improvements.
third step in business process management
The third step in business process management, in which decision makers are able to play a "what-if" game by changing input variables, is called the process execution step. Following Steps 1 and 2 of business process management, in which a process management engine is designed, modeled, and written in a business process execution language (BPEL), the process engine is run. This is Step 3, called the process execution step.
red ocean strategy.
Use of the adjective red suggests an ocean filled with predators and the blood of their prey.
videoconference
Videoconferences are better approximations of face-to-face meetings than voice conferences.
fast-follower strategy.
When a company makes use of the research and development that the market innovator invests in and typically develops a competing product at a lower price, that firm is using the fast-follower strategy.
weak external threats
When external threats are weak, managers should feel free to operate more aggressively to increase market share and profitability.
Six Sigma
While lean management seeks to eliminate waste and relies on supplier relationships, Six Sigma seeks to eliminate defects and prevent production steps being completed out of order. As such, the tutoring center certifying a student's score before moving them on to the next level and a food manufacturer confirming product weight would both be examples of Six Sigma techniques.
video conferencing
Zoom and WebEx may have more business capabilities, and a dedicated system has the most power, but FaceTime and Skype also work for videoconferencing on compatible devices.
Select all technology options for video conferencing from the following list. More than one answer may be correct.
Zoom and WebEx on a desktop computer systems with cameras, microphones, and dedicated Internet connections Snapchat and YouTube on a tablet
Remote desktop software
allows an administrator to view a single monitor on a separate device.
Mobile POS systems
are good for new small businesses who are either mobile in nature or who's location is temporary. In both of these scenarios, it does not make sense for business owners to invest in large equipment purchases necessary to run traditional mainframe POS stations.
A videoconference may be a better choice than a voice conference call because it allows
better communication through nonverbal cues.
Mary Parker Follett defines the elements of a successful business as
competence and expertise.
Management information systems allow managers to build upon an organization's existing strengths to create
competitive advantages.
Which advance in MIS technology or tools could pose the greatest threat to a manager's job security?
decision-making software or apps
Karl Benz invented the internal combustion automobile in 1885. More than a century before, Adam Smith had described how division of labor creates efficiencies. When Henry Ford set up Model T production on an assembly line in 1908, he combined technology and efficiency to produce an inexpensive automobile. Ford transformed the personal transportation market. Christensen called this process
disruptive innovation. ford combined two technologies and created a disruptive innovation to transform the automobile market.
Making use of the research and development conducted by the market innovator and then developing a competing product at a lower price is referred to as the ________ strategy.
fast-follower
With the increasing presence of Internet e-commerce sites, the force of customers has
increased.
Computing is considered "green" or environmentally responsible when
it reduces the consumption of natural resources and the associated environmental impact.
Mechanical cash registers were first created to
make it difficult for employees to steal money.
In his text, "The Human Side of Enterprise," Douglas McGregor focused on
manager attitudes toward their employees.
From the following list, select all the departments or areas of an organization that provide customer interaction metrics.
marketing sales service
How do management information systems (MIS) help managers and businesses combat competitive rivalry and increase overall success? More than one answer may be correct.
minimize losses build customer loyalty gain inside information
Employee monitoring software
observes computer use of all employees from a central location.
Management information systems (MIS)
offer advanced inventory management systems, which help optimize inventory levels to avoid shortages. By having product available when competitors run out, organizations can better keep clients satisfied. The same functionality can identify potential losses due to spoilage or excesses of inventory, both of which affect a business's bottom line and therefore the business's viability and success in the marketplace. In addition, MIS include customer resource management systems that can monitor consumer experiences and build customer loyalty, increasing market share and profitability.
During the optimization process step of business process management, what are two key things manager look for in the process?
potential slowdowns and savings opportunities During the fifth step in business process management, called process optimization, managers and decision makers identify potential slowdowns and savings opportunities. Based on their findings, improvements are made to the process.
The first step in business process management, in which analysts often "storyboard" the processes in an attempt to view the entire system prior to investigating each component is called
process design.
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
process execution.
The second step of business process management (BPM) involves the use of flowcharts and other tools to examine decision points and inputs. This step is called
process modeling.
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
process monitoring.
If McDonald's and Burger King raise prices too high, customers may switch from burgers to tacos. This illustrates Porter's force of
substitutes. Porter's force of substitutes addresses the ability of customers to switch products when the price of another becomes too steep. When multiple businesses offering the same type of product raise their prices simultaneously, customers can switch to a different product.
Apple uses Corning's glass products for all its devices, such as the Gorilla Glass 6 used in the iPhone 11 series. To ensure that it continues to have a strong relationship with this glass industry leader, Apple has invested nearly $500 million toward Corning's advanced glass research division. By building up this relationship, Apple seeks to maintain some control over which of Porter's 5 forces?
suppliers High quality glass supply remains a critical element for smartphones. By supporting Corning, Apple seeks to maintain some control over the supply of strong, extremely thin, glass.
When a large number of buyers seek to purchase a firm's products even when prices increase, Porter's force of customers can be said to have
weakened. When a large number of buyers seek to purchase a firm's products even when prices increase, Porter's force of customers, or buyer power, can be said to have weakened. In other words, buyers lose their ability to influence pricing in this situation. When each of Porter's 5 forces become weaker, the market position of the firm improves.
What is legendary GE CEO Jack Welch quoted as saying about competition?
"If you don't have a competitive advantage, don't compete." Competitive advantages allow firms to provide goods and services with higher perceived values than their competitors.
Data centralization means that data is centralized in ________ plac
1
BMS (Database Management System)
A DBMS (Database Management System) is a software program designed to organize and administer a database.
SWOT analysis
A SWOT analysis examines an organization's internal strengths and weaknesses and external threats, as well as external opportunities.
Which of the following is an example of the Hawthorne effect?
A supervisor who frequently gives feedback to the employees who report to her—both to praise them and to let them know areas where they can improve—notices that employee productivity rises.
What is conducted in the process design step of business process management?
Activities are examined and divided into their individual components.
personal computers
After IBM developed personal computers in the early 1980s, other companies, such as Dell, Apple, and Hewlett-Packard stepped in and popularized their use.
Six Sigma techniques
An important tenet of Six Sigma techniques is the reduction of errors to less than 3.4 errors per manufacturing step in order to reduce variance in the output.
What is conducted in the process modeling step of business process management?
Analysts use flowcharts and other tools to depict workflow. and provide decision makers with recommendations when shortages or excesses occur.
Analytics platforms
Analytics platforms provide information about a variety of business and operational areas including cybersecurity, sales and marketing analytics, customer analytics, plant and facilities data, and social media analytics
Online analytical processing (OLAP) is the technology behind many business intelligence applications. Of the following, what three facts about OLAP and CRM are true?
CRM analytics are considered a form of online analytical processing (OLAP). CRM systems incorporate data mining through online analytical processing.
CRM analytics
CRM analytics are often considered a form of online analytical processing (OLAP). OLAP is the technology behind many business intelligence applications and is used for data discovery and analysis including predictive what-if analysis, report generation, and forecasting. Often, CRM systems use data mining to extract information from a customer database.
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. CRM analytics can be considered a form of online analytical processing.
What typically happens during Step 3 of business process management just before the execution process is fully automated?
Decision makers compare engine output to previous business activity. After decision makers have played "what-if" games using various input variables, they confirm the process execution is valid by comparing engine output to previous business activity.
training
Delivering and reporting on the completion of online training modules is the training function of a human resource information system.
fifth step in business process management
During the fifth step in business process management, called process optimization, managers and decision makers identify potential slowdowns and savings opportunities. Based on their findings, improvements are made to the process. The fifth step in business process management, called process optimization, involves adapting the process to further improve performance. Once changes have been made, the process is again executed and analyzed. This recurring review and feedback activity allow managers to create a continually improving process.
In the second step in business process management, analysts use flowcharts and other tools to depict the workflow, the sequence of operations, and the decision points. This is called the process monitoring step.
False
Major corporations often manage their employee compensation plans through web-based services.
False
competitive advantages
Managers create competitive advantages using management information systems to build on their organization's strengths. For instance, a manager can use data analytics and customer relationship management tools to predict customer demand and then in turn employ advance supply chain management systems to meet the needs of their customers more effectively than before.
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.
Mobile POS systems
Mobile POS systems are good for new small businesses who are either mobile in nature or who's location is temporary. In both of these scenarios, it does not make sense for business owners to invest in large equipment purchases necessary to run traditional mainframe POS stations.
legal considerations
Monitoring the legal environment is critical for evaluating external threats and opportunities.
RDBMS
RDBMS stands for Relational Database Management Systems.
Measurable outcomes
The element of learning and growth investigates the culture of the organization. Measurable outcomes include employee training, retention, satisfaction, gender and ethnic ratios, and compensation.
first stage of the project management (PM) process
The first stage of the project management (PM) process, called the initiation phase, calls for the manager to list project goals, outline and document the requirements of the project, and analyze the costs of the project for feasibility.
first step in business process management
The first step in business process management is called the process design step, in which business activities are examined and broken into their individual components. In this step, analysts often storyboard processes before investigating each component.
Porter's 5 forces
The forces Porter described, known as "Porter's 5 forces," include existing competitors, new competitors, suppliers, customers, and substitutes.
When designing a solution, why is it important to consider all outcomes?
This will allow you to create multiple plans in order to visualize all possible solutions. It is important to consider all outcomes when designing a solution in order to create multiple plans and visualize all possible solutions.
Tracking customer acquisition rates
Tracking customer acquisition rates allows organizations to see how effectively their marketing efforts are leading to actual sales, and thus alerts them to when changes in marketing are necessary.
Machines were not used to assist in employee management until the late 1800s, when businesses began tracking employee work hours with time clocks and punch cards.
True
Which of the following describes an inventory management system? More than one answer may be selected.
an information management system that ensures all employees receive adequate training to efficiently ship out products a system that ensures all stock is accurately tracked
When managers decide how to house a business management system, what three options do they consider?
an on-premises custom solution a customized, cloud-based solution (PaaS or IaaS) a SaaS solution
At the time cash registers were invented, "ringing up" a customer meant
each time the cash drawer was opened, the register rang, alerting a shop owner to register activity.
Describe how organizations use CRM systems to utilize social media. More than one answer may be correct.
incorporate social media data into stored customer information use customer likes and dislikes to enhance customer relationships uncover competitor information based on customer postings
Database forms structure data input to ensure data ________.
integrity
Adam Smith argued for the division of labor because he believed that
workers who specialize in a task perform it more efficiently and can help identify ways to mechanize it. Smith believed that the division of labor increases efficiency in two ways: through the increased productivity of specialized workers and the machines or other technological advances that such workers can help develop.
Automated messaging
works well for acknowledgments ("we've received your order," e.g.) and task scheduling.
business management system
A business management system can be housed using an on-premises solution, a platform as a service (PaaS) or other customized, cloud-based solution, or a software as a service (SaaS) system.
database administrator's (DBA
A database administrator's (DBA) duties include the security, tuning, backup, and development of queries and reports that are used to assist business decisions.
high share of wallet
A high share of wallet means that the existing customers are spending more to purchase products or services from one organization than they are from direct and indirect competitors.
Which of the following scenarios describes a situation that would benefit from a mobile POS system? More than one answer may be correct.
A pop-up art space is opening downtown. They will be in their retail space for two months before closing up shop and hope to sell the works of three local artists. They would like to use one system to manage inventory, purchasing and customer payment. A handy man runs a business where he does small repairs and maintenance work at homes in his town. He does not advertise and gains new client by word of mouth only. Currently, he only accepts cash or check for payment but would like to accept credit and debit cards.
customer interaction metrics
A variety of customer interaction metrics are provided by an organization's marketing, sales, and service departments.
AHP hierarchies
AHP hierarchies include data from enterprise systems and human input, including qualitative data and observational data.
Describe the benefits of cloud computing. More than one answer may be correct.
Access to applications software Flexibility of user devices Control of the server
Henri Fayol?
According to Fayol, the five functions of managers are planning, organizing, coordinating, deciding, and controlling.
five functions of managers
According to Fayol, the five functions of managers are planning, organizing, coordinating, deciding, and controlling.
Which is the best description of the relationship between "green computing" and management information systems (MIS)?
Advances in MIS technology will help make "green computing" easier and more widespread. Technological improvements in MIS, along with developments in online communication and collaboration tools, are likely to further reduce the need for commuting and business travel and provide new ways to practice "green computing."
MKIS
An MKIS can be used to run a cost-benefit analysis by comparing the total cost of an advertising campaign to the revenue it generates and using this information to rank campaigns in order of fiscal success.
inventory management system
An inventory management system helps ensure minimization of stock obsolescence, shelf-space optimization, and availability of retail stock.
Which of the following statements about the application of CRM systems to customer qualification are true?
An organization's goal in customer qualification is to decide whether pursuing relationships with specific customers make good business sense. Many CRM software programs can create customized sales funnels based on specific organizational needs and sales characteristics.
business process management (BPM) systems
By allowing managers to automate business processes through modeling, analyzing, and improving efficiencies, business process management (BPM) systems streamline organizations' activities to prevent backlogs and inefficiencies.
CRM market analytics
CRM market analytics can improve the quality of customer data collection when they can demonstrate that the data they have collected is of high quality. They can also show how users interact with CRM systems and use that information to design better data collection strategies.
CRMs
CRMs help businesses retain their existing customers by helping the businesses to maintain customer engagement, provide customers with the services they need or desire, and measure customer satisfaction.
Cloud computing
Cloud computing enables companies to store large amounts of data without the cost of setting up client-server networks. With cloud computing, users can engage with virtual applications software on the Internet. In addition, cloud computing gives users access to powerful online computing tools using any Internet-capable device.
Customer equity
Customer equity is the value that the future lifetime revenue an organization's customers will generate minus customer acquisition costs and customer retention costs.
Which of the following statements about sources of customer data are correct?
Customer surveys collect feedback from customers. Data collection from social media platforms can be integrated within a CRM platform Analytics are used to uncover trends in the collected data. Customer surveys, social media, and analytics are used to gather data on current customers, which helps inform possible future patterns.
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.
Which stage of the project management process involves constantly monitoring the progress of the project and the project's resources?
Execution Stage
Why might a human resources manager want to use recruiting and hiring management software? More than one answer may be correct.
Extensive governmental oversight regarding the hiring of employees makes using an updated recruiting and hiring management essential. HR managers often need sophisticated software to assist them in making accurate estimates of recruiting, hiring, and training requirements.
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
Mary Parker Follett's contribution to management theory
Follett emphasized relationships, informal processes, and communications within organizations.
What are two reasons firms use benefits management software?
HR managers must keep up to date with legal requirements. Today's benefits programs are complex. All human resources areas are highly regulated, so software must be up to date. In addition, benefits programs usually are complex, requiring input and management of a large amount of individual employee information.
High-velocity decision-making software
High-velocity decision-making software is designed to identify issues, find appropriate solutions, and implement the programs needed for these solutions at transactional speed.
second step in business process management
In the second step in business process management, analysts use flowcharts and other tools to depict the workflow, the sequence of operations, and the decision points. This is called the process modeling step.
management filters
Included in many software applications, management filters may be predefined by the organization to eliminate time-consuming data searches. They allow managers to target the specific information needed for decision making.
Lean techniques
Lean techniques focus on developing efficient supply lines and creating relationships with suppliers to continually smooth these lines. Lean principles also emphasize minimizing excess inventory, delays, and waste.
Major corporations
Major corporations mainly use employee compensation software that is included in an enterprise planning resource (ERP) suite.
Which three of the following statements about management filters are true?
Management filters are included in project management software applications. Management filters eliminate the need to search through large volumes of data. Management filters allow managers to select specific data for specific decisions.
Management filters
Management filters are predefined to allow users to quickly locate what they need among large volumes of data.
OLAP software allows users to perform multidimensional analysis of a wide range of business data, complex calculations, and trend analysis, as well as data modeling. What does OLAP stand for?
Online Analytical Processing
PESTEL analysis addresses.
Organizations can also use a PESTEL analysis to stay apprised of sociocultural and technological issues or changes.
Outcome terminology
Outcome terminology explains the methods used to measure and monitor the belief and action steps of the BAO framework.
What is the goal of the modeling step of business process management?
Provide recommendations on handling labor and supply imbalances.
Qualifying potential customers
Qualifying potential customers is an important part of the sales process. CRM helps managers identify customers who are likely to be valuable to an organization.
Qualifying sales leads
Qualifying sales leads helps businesses make more informed and efficient sales decisions. CRM software provides the opportunity to create targeted sales funnels. Pursuing unqualified sales leads can lead to wasted time and resources, and CRM systems can assist businesses with this problem.
Quantitative customer data
Quantitative customer data is a category that includes transaction history, online activity, customer service history, and inbound/outbound communication. The number of times a customer may interact (check products online, require service, e.g.) can be a meaningful data point for a business.
Query tools
Query tools included in many RDBMS include crosstab queries, action queries, parameter queries, and SQL-specific queries.
What does the acronym RDBMS stand for?
Relational Database Management Systems
Remote desktop software
Remote desktop software allows an administrator to view a single monitor on a separate device.
Remote desktop software
Remote desktop software may work as a security choice when monitoring a large network is not practical and when privacy concerns at an organization take precedence.
Scalable cloud-based ERP systems
Scalable cloud-based ERP systems tailored to smaller businesses are available through firms such as Microsoft, SAP, and Oracle.
A manager is trying to decide which vendor she should use to manage social media promotion. Which of the following is an example of how she would compare selection criteria? More than one answer may be correct.
She would determine which vendor has previously gotten companies a lot of buzz on social media platforms She would determine which vendor has prices that fit with in her social media budget. She would determine which vendor is offering more content generation than the others.
Six Sigma
Six Sigma refers to sets of processing techniques that seek to reduce variance in output to less than 3.4 errors per 1,000,000 manufacturing steps. Data analytics is important to achieving this goal.
Of the following statements, which one specifically applies to the CRM integration of platforms such as Facebook, YouTube, and TikTok?
Social media platforms provide targeted customer information.
Fair Credit Reporting Act
The Fair Credit Reporting Act regulates who can access information in a consumer's credit report.
belief formation component
The belief formation component includes information on the way various psychic states—including beliefs, desires, and opportunities about the operating environment—are formed.
calculation of customer equity (CE)
The calculation of customer equity (CE) first evaluates the value of the future lifetime revenue an organization's customers will generate. From that value, the CE subtracts customer acquisition costs and customer retention costs.
A new app wants to use CRM to analyze whether a new feature would generate reliable income. Which of the following could be used to determine this? More than one answer may be correct.
The company uses the CRM to track how many users access this new feature and how much time they spend using it. The company uses the CRM to track how much more or less time users who access that feature spend in the app overall. The company uses the CRM to track how many users have bought the paid version of the app since the new feature was introduced. This company is trying to determine the viability of their new feature. This can be done by using the CRM to track consumption trends and usage behaviors such as how much time is spent engaging with that feature and with the app overall.
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. Analytics cannot be used to improve data collection.
Porter's 5 forces,
The forces Porter described, known as "Porter's 5 forces," include existing competitors, new competitors, suppliers, customers, and substitutes.
management filtering
The management filtering function allows users to find the specific data needed for a specific decision.
Which of the following statements most clearly describes Mary Parker Follett's contribution to management theory?
The most important elements of an organization are relationships, informal processes, and communications.
second phase of project management is the planning phase
The second phase of project management is the planning phase. The four phases of the project management (PM) process are the initiation phase, the planning phase, the execution phase, and the closure phase.
flextime
The term "flextime" refers to "flexible time," since flextime policies typically give employees some control over when they need to be working or on task.
business management systems
The three main components of business management systems are a database management system (DBMS), a predictive information system, and a decision-making information system.
Max Weber believed that organizations were best supported by which of the following strategies?
The use of specialization among employees. Specialization among employees is one of Weber's nine principles.
financial outcomes
There are a number of financial outcomes that are measured. These outcomes include revenue, expenses, return on investment (ROI), net income, cash flow, and return on equity.
quality of information
There are several factors that contribute to the quality of information including accuracy, completeness, relevance, validity, timeliness, and consistency. Measuring information against these factors can help to ensure high-quality information is being produced.
Which of the following list is a point-of-sale (POS) station output device? More than one answer may be correct
Thermal printer Speaker Thermal printers print (output) receipts, for instance, from POS stations. Speakers emit (output) sound from POS station
What is the most likely reason that unstructured decisions are typically made by higher-level management?
They require strategic, long-term thinking.
relationships with their customers
To create relationships with their customers, organizations can incorporate information from social media platforms into their CRM system. Data includes customers likes and dislikes, what content they are engaging with, and what they are posting about competitors. This information can be analyzed and used to create more meaningful relationships based on their customers' behaviors.
A company uses an HR management system with artificial intelligence to deliver badges to the employees who have received the best scores in annual online training modules and let managers know which employees have not completed it as the deadline approaches. What function is this HR management system helping the company perform?
Training
In the fifth and final step in business process management, managers adapt the process to enhance process performance. This is called the process optimization step.
True
Unstructured decisions
Unstructured decisions are significant and have far reaching implications to the success of the organization, so they require the kind of strategic, long-term thinking provided by higher-level or senior management.
AHP
Using AHP, intricate situations and scenarios are analyzed by deconstructing the problem into a visible hierarchy of variables or conditions that can be further analyzed through comparison.
ean manufacturing principles
Using lean manufacturing principles requires a well-trained, highly knowledgeable workforce that assertively acts to minimize waste and maximize value in every process and product. Supportive human resource policies are mandatory.
Five Whys
When asking the Five Whys, you're trying to determine the root cause of a problem that's occurring. In this scenario, the problem that's occurring is that a warehouse isn't able to maintain a desired amount of inventory. The questions that you need to ask should relate to the warehouse and its inventory levels, not just general business issues.
Although Miguel does not want to give up the option to work from both home and office, he's starting to feel his personal and work lives blending together, and not in a good way. What are some strategies he should try to improve his work-life balance? More than one answer may be correct.
When at the office, Miguel can break for informal chats with colleagues in person and on video chat or phone when he's home. At the end of the day, he should take time to wind down and get enough rest. Wherever he is, Miguel should plan his day according to achievable priorities. A first step may be scheduling a specific time for responding to messages and calls. Chats and other breaks can relieve information overload. Sleep is essential for memory and brain development. Realistic daily goals help reduce the stress of unexpected events. Correspondence with management early in the day can clear the way for tackling other tasks with fewer interruptions.
SaaS packages
While some SaaS packages can be customized, most allow just a limited amount of customization; by-and-large the manager has to take the system as it is given.
Which of the following would be a good question to ask to determine why a warehouse was not able to maintain an appropriate amount of inventory? More than one answer may be selected.
Why are inventory levels lower than desired? Why are orders higher than anticipated? Why are employees not completing mandatory HR training?
Rana's employment agency is a startup with a one-person IT department, but it requires a business management system that can meet unique needs. Which type of business management system should she adopt?
a custom, cloud-based solution (PaaS or IaaS) A cloud-based system can easily be customized for unique needs and operated without maintaining a large IT team.
Which of the following is an example of management inconsistency that employee scheduling software is designed to eliminate? More than one answer may be correct.
a manager at a restaurant consistently scheduling favored employees for the shifts with most money-making potential an employee whose last name begins with the letter "Z" consistently not receiving his desired number of hours a week consistently scheduling too many or too few employees to work shifts
Which type of business management system is best described as an "off-the-shelf" (OTS) or prepackaged system?
a software as a service (SaaS) system
Data governance policies help to ensure an organization's data is valid, understandable, complete, and ________.
accessible
Recall factors that contribute to the quality of information. More than one answer may be correct.
accuracy relevance timeliness
There are many RDBMS query tools we can use. Those query tools include crosstab queries, ________ queries, parameter queries, and queries specific to SQL
action
The primary advantage of mainframes computers is that they
allow modifications to system capacity while the system is in use. The ability to make modifications to system capacity while the system is running is essential to businesses that can little afford computing downtime. This is the primary reason mainframes are known for their reliability, availability, and serviceability.
CRM analytics
analytics about customer behavior provide insights used in business decisions. Data should be captured at the point of sale and from e-commerce transactions. CRM analytics can be considered a form of online analytical processing.
How is quantitative data about a customer most accurately characterized?
as a record of how a customer interacts with a business
A marketing manager wants to determine which marketing campaign for a specific product was the most successful as determined by the amount of revenue generated. She uses the company's MKIS to determine how much revenue was generated for each of the three major campaigns run that year to determine revenue generated as compared to the cost of the campaign. This is an example of using an MKIS to
assist with cost-benefit analysis.
Tasks of a database administrator (DBA) include database security, tuning, ________, and creation of queries and reports used to assist business decisions.
backup
IBM estimates the U.S. economy loses over $3.1 trillion per year as a result of
bad data. IBM estimates that the U.S. economy loses over $3.1 trillion per year as a result of bad data. In order to make informed business decisions and avoid costly errors, organizations need to take steps to ensure the data they receive is of the highest quality.
When choosing between alternatives, managers need to compare alternatives against selection criteria such as benefits, costs, and advantages. Opinions should not be consider
belief formation
Kim and Mauborgne further refined Porter's price leadership vs. product differentiation concept by highlighting two strategies. Which strategy do they assign to Cirque d'Soleil?
blue ocean
How does using a CRM to track customer acquisition rates help organizations improve their future customer acquisition rates?
by revealing whether their marketing efforts are effective or require changes
Unstructured decisions include which of the following decisions or activities? More than one answer option may be correct.
capital budgeting decisions strategic goal development Many complex and unstructured decisions are involved in capital budgeting and developing strategic goals, as with the development of a marketing plan.
A cloud database is a type of database developed on a ________ platform and retrieved by a cloud platform.
cloud
Recognizing that inappropriate and inconsistent pay can demotivate the strongest workforce, many firms use
compensation management software. Smart employee compensation strategy is essential to a firm's success.
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 qualification.
If an increase in price results in a relatively large decrease in demand for the product, the firm cannot easily increase its profit margin. This demonstrates which of Porter's 5 forces?
customers
Data centralization is necessary for maintaining ________.
data integrity
Reports offer a way to view, format, and summarize the information in a ________.
database
A business management system includes three main components: a decision-making information system, a predictive information system, and a
database management system.
A cloud database infrastructure integrates computer hardware and operating system in an internet-based ________.
datacenter
Which element of a PESTEL analysis is represented by the use of data mining information from the Bureau of Labor Statistics to gain insight into regional employment figures?
economic The state of the economy plays a huge role in the success or failure of any firms, and BLS data would be considered economic factors in a PESTEL analysis.
Smaller firms may rely on software packages such Kronos Workforce Ready, BambooHR, PerformancePro for services related to
employee evaluation. These software packages are a good fit for mid-size or smaller firms that need to confidentially maintain and manage employee records.
The value that the future lifetime revenue an organization's customers will generate minus customer acquisition costs and customer retention costs is called customer
equity.
Databases are designed to maintain data and information about various types of data objects, including ________.
events * people * places * queries
What function allows managers the ability to search data sets for information that is needed for a given decision?
filtering
One important ________ is that the firm's employees will learn to use technologies to develop the new product, providing a competitive boost.
first-mover advantage
Lieberman and Montgomery examined the advantages and disadvantages of being the first firm to enter a product into the market. They coined this phenomenon
first-mover advantage.
Which level of share of wallet means that existing customers are spending more to purchase products or services from one organization than they are from direct or indirect competitors?
high share of wallet
What type of decision-making software can identify issues and find and implement solutions at transactional speed?
high-velocity
Because employee education and training are so important to ensuring that all employees can participate in lean manufacturing processes, ________ systems play a key role in success.
human resources management
What is the third step when applying multiple-criteria decision analysis (MCDA)?
identify and select objectives and criteria
third step when applying multiple-criteria decision analysis (MCDA)?
identify and select objectives and criteria The steps followed when applying a multiple-criteria decision analysis are: describe the context, identify available options, identify and select objectives and criteria, measure each criterion, and calculate the values. Identifying and selecting objectives and criteria is the third step.
With the increasing presence of Internet e-commerce sites, the force of customers has
increased. The presence of the Internet and e-commerce has increased the information available to customers and the number of suppliers from which customers can use. This in turn has increased the power of the customer as a force on business strategies.
The stage of the project management (PM) process in which project objectives are identified and feasibility studies are conducted is the
initiation phase.
Which of the following is a reason that Six Sigma methodologies rely heavily on data analysis?
its focus on reducing variation and eliminating product defects
From the following list, select all of the characteristics of an organization that are examined with a SWOT analysis.
its internal strengths its external threats its internal weaknesses
Under what type of system are employees encouraged to halt the manufacturing process in the event of a manufacturing error or safety risk?
lean manufacturing system
Manufacturing practices that emphasize developing efficient and smooth supply lines and minimizing excess inventory, delays, and waste are
lean techniques.
Which of these is the "L" factor that managers examine while conducting a PESTEL analysis?
legal considerations
A database relationship is a(n) ________ between tables that define how the data are related.
link
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 assembling human resources questionnaires based on survey results
What do customer relationship management (CRM) systems help businesses to do to retain their existing customers? More than one answer may be correct.
maintain customer engagement provide services to customers measure customer satisfaction
fifth step in business process management
managers adapt the process to improve process performance. This fifth step in business process management is called process optimization.
Customized communication is best described as
matching the message to the individual customer. Customized communication, or properly matching messages to the customer, results in less wasted communication, more sincere communication, and effectiveness.
Databases maintain data and information about various types of data _______
objects
The DBMS (Database Management System) is designed to administer and ________ a database.
organize
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
A long-standing company is expanding their existing workforce. What, in all likelihood, will they invest in terms of computing capabilities?
personal computers With an established IT structure and network, the company will expand the number of personal computers they have and add them to the existing network.
When conducting a SWOT analysis, an organization's human resource management system is used to evaluate the relative strength or weakness of its
personnel (workforce).
The project management (PM) process has four phases. What is the second phase of the process?
planning phase
What are the five classical functions of managers as identified by management theorist Henri Fayol?
planning, organizing, coordinating, deciding, controlling
What did Henri Fayol consider to be the main roles or responsibilities of a manager?
planning, organizing, staffing, directing, and controlling processes
According to Professor Michael E. Porter, the author of the five-forces model for dealing with competition, businesses that wish to gain competitive advantage must follow which of these strategies? More than one answer may be correct.
price leadership product differentiation Porter advocated two types of strategies for gaining a competitive advantage: price leadership and product differentiation.
Which types of data are included in the analytical hierarchy process (AHP) programming model for decision making in multifaceted operational environments? Select all of the correct answer options.
qualitative data observational data data from enterprise systems
Which type of software helps HR managers calculate an organization's future workforce needs by taking many different variables into account?
recruiting and hiring software
The major advantages of executing a data quality audit include ________.
reduced risk of data inconsistency* reduced data storage costs* data improvement recommendations* financial benefits for customers
Examples of data scrubbing include which of the following?
removal of duplicate database records* correcting misspelled words* fixing syntax issues* creating data tables
Recall financial outcomes that are commonly measured and used in the balanced scorecard framework. More than one answer may be correct.
revenue return on investment (ROI)\ cash flow
Analytics platforms provide information about a variety of business and operational areas, including
sales and marketing analytics customer analytics
Smaller businesses are able to get the benefits of an enterprise resource (ERP) system through
scalable cloud-based ERP systems.
From the following list, select the primary responsibilities or duties of a human resources manager that can be accomplished using a human resource management system.
scanning the environment to determine future HR need recruiting, hiring, training, retaining, compensating, appraising, promoting, reassigning, and firing employees managing employee grievances, absences, sick days, and paid-time-off days These tasks are a significant part of the job of an HR manager and necessary for the strategic use of employees, to allow organizations to operate efficiently, gain competitive advantage, and comply with extensive governmental regulations regarding employees.
Which of the following do modern inventory systems ensure? More than one answer may be selected.
shelf-space optimization minimization of stock obsolescence
Which PESTEL factor can managers monitor by improving communications throughout the organization and gaining better perceptions of consumers' opinions using CRM software?
sociocultural These actions would allow managers to observe sociocultural changes in society in near real-time.
The political, economic, environmental, and legal issues facing an organization can be examined using a PESTEL analysis. From the following list, select the additional factors that a PESTEL analysis addresses.
sociocultural issues technological issues Organizations can also use a PESTEL analysis to stay apprised of sociocultural and technological issues or changes.
n addition to existing competitors and new competitors, what are the forces included in Porter's 5 forces? More than one answer may be correct.
suppliers customers substitutes
third stage, or the execution stage,
the execution stage, the project manager must constantly monitor the progress of the project and the project's resources.
To calculate an organization's customer equity (CE) value we first determine
the future lifetime revenue the organization's customers will generate.
audit of the data quality
the main benefits of conducting an audit of the data quality are reduced risk of data inconsistency, reduced data storage costs, and data improvement recommendations.
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
For strategic planning, managers should choose an aggressive strategy if a SWOT analysis reveals that the organization faces weak external ________ and its external opportunities are matched with internal strengths.
threats
Recall learning and growth outcomes that are commonly measured and used in the balanced scorecard framework. More than one answer may be correct.
training employee retention compensation
Usability in web mining refers to how a website ________ and ________ can interact with a website.
users* visitors* pages servers
In the analytical hierarchy process (AHP) programming model, what is the first thing placed into a hierarchy to facilitate the decision-making process?
variables or conditions in the situation
In which customer interaction instances is automated messaging especially useful? More than one answer may be correct.
when a customer transaction warrants an initial acknowledgment when information about task scheduling needs to be conveyed when the answer to a customer's question is not in FAQs
In which of the following situations does remote desktop software have advantage over employee monitoring software? More than one answer may be correct.
when monitoring a large number of employees is not practical when employee privacy is a serious concern when integration with other business systems is necessary
Describe who might use mainframe computers. More than one option may be correct.
An airline taking reservations. A warehouse restocking a recently published book. A company seeking better operational efficiency.
The first step in business process management examines business activities and breaks them down into their individual components. This is called the process decomposition step.
False
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 modeling step.
False
What occurs during the process optimization step of business process management?
Managers adapt (modify) the process to enhance process performance.
During which step of business process management are bottlenecks and excesses in the engine identified?
Step 4: process monitoring
Which step of business process management allows managers to create a continually improving process?
Step 5: process optimization
What does the abbreviation SQL stand for?
Structured Query Language
four principles of scientific management
Taylor's principles are task management, employee development, worker-manager collaboration, and management training.
first step in business process management
The first step in business process management is called the process design step, in which business activities are examined and broken into their individual components. In this step, analysts often storyboard processes before investigating each component. The first step in business process management is called the process design step, in which business activities are examined and broken into their individual components. By examining the components, the process design step aims to identify redundancies within existing processes.
According to Professor Porter, a business must differentiate itself from its competitors. One method is to encourage customers to believe that an organization provides higher quality goods or better service, then the organization can charge a premium, or gain market share, or (ideally) both. For example, by placing a swoop icon on a sweatshirt, Nike is able to charge a higher price. This methodology is called
monopolistic competition.
Remote desktop software
provides access to all networked devices from a separate computer.
In the financial world, some Nigerian banks have used a fast-follower strategy. To reap benefits, they have
quickly developed and marketed products introduced by Western banks. Some Nigerian banks have used a fast-follower strategy. They watched and developed products introduced by Western banks on a fast-enough timeline to reap market benefits.
When competitors seek to gain competitive advantage through price leadership or by making product improvements, Professors W. Chan Kim and Renee Mauborgne would say they are using a(n)
red ocean strategy.
What is an important step in integrating cloud computing into a business's IT structure?
secure a dependable, high-speed Internet service
In addition to existing competitors and new competitors, what are the forces included in Porter's 5 forces? More than one answer may be correct.
suppliers* customers* substitutes* opportunities
What is Frederick Taylor's four principles of scientific management?
task measurement, employee development, worker-manager collaboration, and management training
management inconsistency
that can be solved by employee scheduling software are managers playing favorites, staff members being overlooked for shifts due to arbitrary reasons, and frequently having the wrong number of employees scheduled to work. Employee scheduling software removes preference and can use historical data to determine the number of employees to schedule for a shift.
fourth step of business process management
In the fourth step of business process management, called process monitoring, managers measure the performance of the engine by tracking both individual process components and the process as a whole. During this step, any bottlenecks or excesses are identified for process improvement.
Recruiting
Recruiting is used with an HR management system to hire employees based on predetermined qualifications, eliminating candidates who do not fit within the specified parameters.
Which of the following scenarios depicts an employment situation that Elton Mayo believed would result in an employee becoming more engaged and productive? More than one answer may be correct.
Sales managers at Lenovo are given weekly sales status reports indicating how much their rep's sales are contributing to the overall corporate revenue. At an ad agency, graphic designers receive updates for the revenue that past campaigns have generated for clients. A junior level marketing executive always meets her deadlines and submits work on time. Her annual performance appraisals are always positive and her manager frequently says nice things about her to the executive team.
Why are social media sites, such as Facebook, TikTok, and LinkedIn, valuable sites for companies looking to purchase third-party data? More than one answer may be correct.
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. Social media users represent a cross-section of the overall audience for most products. Social media users willingly and frequently provide information that used to be very difficult for companies to figure out; mining social media sites for data makes it very easy for corporations to create incredibly targeted promotional campaigns. Since most users don't read the terms of service, they often don't know that the information they post is being shared with third parties.
second step of business process management
Step 2: process modeling In the second step in business process management, analysts use flowcharts and other tools to depict the workflow, the sequence of operations, and the decision points. This is called the process modeling step. In the modeling step, analysts use flowcharts and other tools to illustrate workflow and provide decision makers with recommendations when shortages or excesses in labor or supply occur.
The first two steps in business process management (BPM) are examining the design of the process and modeling the process. What are the third and fourth steps of the process?
Step 3: running the process; Step 4: monitoring the process
Which of the following is an example of a business that would benefit from scheduling software? More than one answer may be correct.
A medi-spa offers the following services: manicures, pedicures, massages, laser hair removal, Botox, and chemical peels. Local agencies require different levels of training and certification for the technicians performing these different services. Weekends are the most popular time for manicure and pedicure services, while the beginning of the week is the most popular time for services that use a chemical or a laser. A library that has six locations within a city. Each location offers different services—targeting preschool aged children, seniors, out of work adults, and school aged children—on different days. The programs are generally run by the same employee at different locations so care needs to be taken not to schedule the same programs for different locations on the same day and that each employee is scheduled for the right location on the right day. A software company has 200 employees spread across three cities. All employees are given the freedom to work from home when they chose, but the company still maintains dedicated office space for each employee. There are team building exercises a few times a year when all employees are required to be on site at the office location in their city.
scheduling software
Employee scheduling software and rostering is beneficial to companies that either have specified roles to be filled at different times or need a minimum number of employees that are capable of handling different roles per shift. Being able to use historical information regarding which type of employees were needed during which working shifts is an important use of employee scheduling software.
