MIS 2020 Final

Wyatt owner of The Hot Sauce King, an Internet-based hot sauce company based in St. Louis, MO spends $50,000 in one month on advertising and marketing. In that same month, they receive 2,000 orders from new customers. The result is a CAC of _____.

$25

Which of the following would be a reason why an organization would use web usage mining?

-A new social media platform wants to increase engagement and is looking to know what content its most frequent users spend the most time engaging with. -An e-commerce business looking to improve the customer experience on its website to boost sales wants to know what types of sites users go to after visiting their website and putting items in their cart, but not completing a purchase.

Which of the following is an example of what an information policy could specify?

-A user agreement on a website indicates that it will store the browsing history linked to the IP address for an indefinite amount of time and reserves the right to sell that information to interested parties. -A health insurance company stores data that patients self-report as inputs on its website, but does not link that data with information about the patient's search history. -A large corporation grants access to salary information to the direct supervisors of employees and to members of the Human Resources department who administer payroll.

Which of the following statements about re-commerce are true?

-According to Yerdle Re-commerce, this segment is expected to grow from $21 billion to over $52 billion over the next five years. -Re-commerce is the practice of selling used, old, or obsolete products via the Internet in exchange for a new product or a cash payout -The practice of re-commerce has seen an increase in the marketplace and is offered by companies such as thredUp, Yerdle Re-commerce, and The RealReal.

What does your personal tablet or smartphone have in common with a huge data warehouse or a remote server?

-All are hardware components within a social media information system (SMIS). -Whether you are working as a platform manager, a data technician, or a college student, you can interact with SMIS through appropriate hardware.

In his book, The Machine That Changed the World, Dr. James Womack of M.I.T. specified the five tenets of Lean manufacturing. These include, specifying the value of each product with precision, identifying how each product acquires its value (the value stream), and which 3 other principles?

-Allowing customers to pull increased value from the procedure -Ensuring that the value flows to the product without interruption -Relentlessly pursuing perfection

For a specific advertisement, a social media platform allows a corporation to target female users who are between the ages of 28 and 35 and have at least one child. This social media platform is assisting with which part of the market research process?

-Analysis of data and information -Data information and collection

Of the decisions/activities listed, which would be considered unstructured decisions?

-Capital budgeting -Strategic goal development

Select what is true about computer networks.

-Computer networks support many different software applications -A network is a group of two or more devices/computers connected together -Networks range in size from small home networks to the Internet, which is the world's largest network

Ensuring that the information being used to make informed business decisions is accurate and of high quality is critical in today's business environment. Which of the following are common characteristics of information quality?

-Consistency -Completeness -Validity

E-commerce has created a lot of opportunities for both consumers and organizations. While there are many positive benefits to e-commerce, there are some issues that arise as a result of e-commerce. Which of the following are common issues that are experienced by e-commerce businesses?

-Customer loyalty -Threats to customer data

Which of the following sets of characteristics specifically apply to relational databases?

-Data tables in a relational database are linked by the field they have in common -A relational database organizes data in tables composed of records or objects (the rows), and fields (the columns)

Which of the following are common issues experienced by e-commerce-oriented businesses?

-Data theft -Competitor analysis -Ethical issues

Collaboration software is designed to enhance the productivity of teams, groups, and organizations. Select the correct statements about collaboration software.

-Dedicated workspaces are viewable and editable (based on assigned privileges) by users regardless of their physical location -Allows for the creation of a dedicated workspace where users can add data and workflows -Many of today's collaboration software programs are cloud-based, removing the need for users to have specific software downloaded on a device

Today's Behavioral scientists have created behavioral models that identify actual management behaviors. Based on their observations, researchers offer a set of five management attributes. Which of the following are contemporary management behaviors?

-Diversity of contacts with the organization -Oral communication -Currency of information

A cost-benefit analysis is a useful tool used to analyze the costs associated with implementing a project or set of activities and the benefits that can be achieved as a result of the implementation. Which of the following would be considered costs when conducting a cost-benefit analysis?

-Hiring costs -Capital outlay -Management costs

Select all of the following characteristics that explain information density.

-Information density is the total amount of information as well as the quality of information available to all individuals in a market including customers and stakeholders. -Information density in e-commerce also allows for consumers to more easily find prices for goods or services that are available for sale (price transparency) and the actual costs a seller paid to acquire the goods or service (cost transparency). -Organizations benefit from information density because it provides them large data sets from e-commerce activities that can be used to create effective target market strategies.

Select all options that describe what social media offers businesses eager to gain an understanding of their customers.

-Insights analytics -Social intelligence tools -Unprecedented access to consumer data

Henry Mintzberg, a Canadian researcher on management and business, classifies management roles into three categories. Which of the following are the three categories identified by Mintzberg?

-Interpersonal roles -Decisional roles -Informational roles

What are two characteristics of cryptocurrency?

-It has a fluctuating price -It is not portable

What are the characteristics of cryptocurrency?

-It is not issued by a central bank -It is not backed by any assets -Its value depends largely on the supply and demand for it

M-commerce was first used in 1997 by Kevin Duffy. Since that time, m-commerce has seen continued growth and interest from a variety of organizations. Which of the following statements about m-commerce are true?

-M-commerce activities include mobile banking, mobile application e-commerce sites such as Amazon and eBay. -Allows users to access online shopping platforms to make purchases without having to use a computer with a desktop operating system such as Microsoft Windows 10. -Refers to e-commerce transactions (buying and selling goods and services) that are executed using wireless mobile devices including smartphones and tablet computers.

Arguably the biggest changes business applications technology has brought to small retailors is the ability to quickly process which 3 of the following?

-Mobile payments -Credit cards -Debit cards

Select three major data analytics software platforms.

-Oracle Analytics Clouds -Tableau by Salesforce -SAP Analytics Cloud

Select the 3 major elements of a supply chain management system

-Order fulfillment management -Customer relationship management -Supplier relationship management

The classical model of management describes what managers do. Classical management theorist Henry Fayol identified the five classical functions of managers which includes:

-Organizing -Coordinating -Planning

Select three characteristics of Just-in-time (JIT) manufacturing and inventory management.

-Parts, and often even labor, are not purchased until the moment they are needed in the assembly process -JIT requires exceptionally smooth supply chains -JIT faces significant challenges during supply chain disruptions such as those that occur during natural disasters

Select three transaction processing systems that make use of merchant service aggregator capability.

-PayPal -Square -Stripe

A variety of Management Information Systems (MIS) and the reports they provide are used to assist in making structured decisions. Which of the following are common reports provided by MIS?

-Production reports -Exception reports -Forecasting reports

A cost-benefit analysis is a useful tool used to analyze the costs associated with implementing a project or set of activities and the benefits that can be achieved as a result of the implementation. Which of the following would be considered benefits when conducting a cost-benefit analysis?

-Sales increases -Productivity gains -Market/brand exposure

Examples of Internet of Things (IoT) devices include which of the following? More than one answer may be selected.

-Smart TVs -Smart speakers -Home security cameras

Select the true statements about structured management decisions.

-Structured decisions involve tasks and choices that are routine -Structured decisions are made easier through the creation of defined processes and procedures -Structured decisions are regularly made by individual employees and teams and frequently include operational decisions

Select the 3 major elements associated with executive information system (EIS) applications, sometimes referred to as an executive support system (ESS).

-Supporting software (modelling) infrastructure -Communications element -User interface

An e-commerce presence map is an illustration of the various touchpoints where current customers, potential customers, and stakeholders can be influenced by e-commerce activities. What are the three areas that are covered on an e-commerce presence map?

-The Platform -Type of presence -The Activity

Select the true statements about unstructured management decisions.

-Unstructured decisions are often executed by higher-level management and include strategic decisions such as market entry or exit, capital budgeting, and strategic goal development. -Unstructured decisions involve management insight and judgement

Select all options that represent basic steps in an organization's use of social media to craft a target marketing strategy.

-Use analytics tools provided by social media tools -Create a marketing program that reaches social media users -Obtain user data from social media platforms

What information does Instagram Insights offer?

-Users' demographic information. -Number of times nonpaid content was viewed by a specific demographic. -Number of times paid content was viewed by a specific demographic.

What information does the Facebook tool Audience Insights provide to organizations?

-What websites members of a target audience interact with most frequently. -What regions of the country members of a target audience reside in. -The purchase behavior of people who have not "liked" your Facebook page, but who have attended events hosted by your organization.

1) Offers a broad set of global Cloud-based products including compute, storage, databases, analytics, networking, mobile, developer tools, management tools, IoT, security, and enterprise solutions. 2) Offers a suite of modular Cloud computing services including data storage, data analytics, computing, and machine learning. Google also offers serverless computing, IaaS, and PaaS. 3) Offers a range of flexible Cloud infrastructure services including Cloud servers, cloud block storage, private cloud network, cloud firewall, and fully managed Cloud. 4) Offers cloud solutions for Customer Relationship Management (CRM) and Enterprise Resource Planning (ERP).

1) Amazon Web Services (AWS) 2) Google Cloud 3) Kamatera Performance Cloud 4) Salesforce

1) Includes information on the way various psychic states including beliefs, desires, and opportunities about the operating environment are formed. 2) Refers to how the psychic states translate into action by the organization. 3) Explains the methods used to measure and monitor the belief and action steps of the BAO framework.

1) Belief formation 2) Action formation 3) Outcome formation

1) Blockchain makes changing any information in a contract almost impossible. This proves to be advantageous for businesses that are dealing with multiple contracts. 2) The encryption used in Blockchain makes it ideal for monetary transactions. Also, blockchain eliminates the need for banks to handle monetary transactions. 3) Blockchain allows shippers and customers to verify with almost absolute certainty where items and goods are along the supply chain thus removing guesswork and inefficiencies. 4) Blockchain can be used to trace mistakes and errors in manufacturing back to the point of origin.

1) Business contracts 2) Monetary transactions 3) Supply chain management 4) Quality assurance

1) Pinpoints outliers that vary from the norm. This could be when a production quota falls below forecasted levels or when performance of sales associates falls below a pre-defined threshold 2) Pinpoints outliers that vary from the norm. This could be when a production quota falls below forecasted levels or when performance of sales associates falls below a pre-defined threshold 3) Provide information about future expectations and whether current conditions will meet, exceed, or fail to meet these expectations.

1) Exception reports 2) Production reports 3) Forecasting reports

1) Information about geographic locations that is stored in a geographic information system (GIS). 2) Composed using vertices and paths and includes points, lines, and areas (represented by polygons). Points are composed using XY-coordinates. 3) Composed of pixels or grid cells and are often spaced in regular intervals and designed to make square shapes. 4) Also known as geo-targeting, it is a type of advertising where advertisements are delivered based on a user's geographic location.

1) Geodata 2) Vector data 3) Raster data 4) Geoadvertising

1) Managers perform as leaders for the organization. They represent their business to stakeholders outside the organization and perform a number of figurative responsibilities. 2) In their informational capacity, managers are the central location for information provided by the organization. 3) Managers help to initiate new strategic objectives, handle conflicts, and distribute budgetary resources to departments and employees under their supervisory control.

1) Interpersonal roles 2) Informational roles 3) Decisional roles

1) Includes websites, e-mail, social media sites, and offline media. 2) Includes the methods used to reach the stakeholders and customers including desktop, mobile platforms, and social media sites. 3) Includes actions that can be delivered through each specific platform including applications, affiliate advertising, searches, newsletters, information sharing, education, and branding.

1) Presence 2) Platform 3) Activity

1) An online project management software solution. This software focuses on the collaborative aspects of project management. You can create web forms and sheets (similar to a spreadsheet). 2) A collaboration hub that aims to replace email and make communication seamless. This software is composed of channels where teams and members of the organization can communicate. 3) A collaboration tool that organizes projects into boards. This creates a visual representation of what's being worked on, who's doing the work, and where something is in a process.

1) Smartsheet 2) Slack 3) Trello

For the past 10 years, a restaurant has been running a customer loyalty program, rewarding customers with discounts and treats. Records of these rewards have been kept in odd notes and multiple spreadsheets used in different ways by various employees who have come and gone over the years. Because of this, some customers are not getting their rewards, while others are receiving rewards they have not earned. Overall, the restaurant is losing money and business with this program. How can a database management system (DBMS) help with this problem?

A DBMS will help the owners manage the data they already have to run their customer loyalty program more efficiently.

The four steps in a data quality audit are ______.

Assessment, design, transformation, and monitoring

A cost-______ analysis is a useful tool used to analyze the costs associated with implementing a project or set of activities and the benefits that can be achieved as a result of the implementation.

Benefit

Allowing people to share a digital ledger across a network of computers, ___ uses computer code to create concatenated (linked together) blocks of transactions.

Blockchain

Software and technologies that uses computer code that creates concatenated (linked together) blocks of transactions _________ allows people to share a digital ledger across a network of computers. There is no need for a central source of control because no single entity has the ability to tamper with the records.

Blockchain

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 _______.

Bullwhip Effect

The term "ringing up a sale" was coined because of the way a bell would be struck whenever the till was opened on a ___.

Cash register

Business computer applications that provide the software needed to ensure the efficient flow of goods and services from the extraction of raw materials to customer distribution and receipt of payment are referred to as supply ________ management systems.

Chain

A computing model where processing, storage, software, applications, and a variety of services are provided over a network, mainly access via the Internet is called ______ computing.

Cloud

Designed to enhance the productivity of teams, groups, and organizations. ___________ software allows for the creation of a dedicated workspace where users can add data and workflows.

Collaboration

Using collaboration software people from across the organization, regardless of their physical location, people can share content in real-time including documents, spreadsheets, videos, and messages. This leads to better _______, which is one of the benefits of using collaboration software.

Collaboration

Management Information Systems allow managers to build upon an organization's existing strengths to create

Competitive advantages

The ability for a firm to enjoy significant profit margins decreases as the number of ___ offering essentially the same products or services increases.

Competitors

To maximize a sale force's efficiency and effectiveness, managers use _________ relationship management systems.

Customer

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

Establishing how an organization manages its data and making sure the organization adheres to these methods is a function called ______.

Data administration

How are data marts different from data warehouses?

Data marts focus on an individual department or business function and manage less data than a data warehouse

Also known as business intelligence (BI software), ________ support system (DSS) software, gained credibility with airlines and air traffic control systems in the mid-1980s and 1990s.

Decision

An analysis tool that is similar to cost-benefit analysis, multiple-criteria _____ analysis is an analysis tool used for decision making. It is not constrained by quantitative or monetary means of comparison.

Decision

Business applications that obtain data from sources internal and external sources, to specifically assist senior executives in gaining a broader view of the competitive landscape is referred to as _____.

EIS (executive information systems)

Creating efficiencies by ensuring that nearly all aspects of the firm's operations coordinate with each other is why many corporations integrate a SCM system with their ________ system.

ERP (enterprise resource planning)

Business applications that integrate the management of nearly all aspects of an organization is known as ________ resource planning (ERP) Software .

Enterprise

Chinese and Nigerian manufactures have been notably successful in adopting a strategy of, rather than creating an innovative product, offering a competing product rapidly enough so that early majority adopters have a choice when purchasing the product for the first time. This is referred to as a ___.

Fast follower strategy

Making use of the research and development conducted by the innovator, and then developing a competing product at a lower price is referred to as the ___ strategy.

Fast-follower

Over 50% of all innovative products fail in the market, while over 80% of the successors to the products succeed. This is a key tenet of the fast-____ strategy.

Follower

Information about geographic locations that is stored in a Geographic Information System (GIS) is referred to as _______.

Geoadvertising

The primary purpose of a business intelligence (BI) system is to ______.

Help a business make strategic decisions based on its own data

Businesses use business intelligence (BI) systems to ___.

Help them make decisions that are informed by business data and facts

Which of these common social media goals focuses on raising the public profile of a business?

Increasing brand awareness

In order to gain market share, the firm must differentiate itself from

Its competitors

Which is the best explanation of the difference between a company's fundamental value and its total value?

Its fundamental value is what customers and stakeholders value about its product or service, while its total value includes the value added by other aspects of the business

A manufacturing and inventory management practice that gained popularity in the 1980s was known as ___ -in-time (JIT) manufacturing and inventory management.

Just

Actively encouraging any employee to halt production if a manufacturing error or safety risk is observed is part of the training associated with ___ .

Lean manufacturing

Built on real-time geodata and information provided from wireless mobile devices including smartphones and tablets_____ are widely used in m-commerce.

Location-based services

Why is it important for all organizations, no matter how small, to create and implement organizational information policies?

Organizational data are a critical asset; it is important to ensure its security

Peter Thiel's Confinity Inc. developed software that allowed Palm Pilot users to transfer funds to each other. After joining with Elon Musk's X.com, this software evolved to the point that it would allow payment transfers over the Internet. Musk and Thiel named this company ___.

PayPal

This company, purchased by eBay in 2002, is now one of the world's largest merchant service aggregators.

PayPal

For which task is a data mart more useful or appropriate than a data warehouse?

Resolving a current problem with a specific type of inventory, purchase transaction, or supply chain

A relational database management system (RDBMS) is a type of DBMS whose primary function is to ______.

Show how data are connected through relationships

Because its techniques rely so heavily on statistical data to ensure quality control and to minimize process and product variance, management information systems are integral to the success of any Six ___ initiative.

Sigma

During the Measure and Analyze steps of the ___ procedure, collecting data and using data analytics are essential.

Six Sigma

A collaboration hub that aims to replace email and make communication seamless, _______ is composed of channels where teams and members of the organization can communicate.

Slack

There are a number of Cloud service vendors that provide a variety of Cloud services. Generally, Cloud computing services are classified in three ways: Infrastructure as a Service (IaaS), Platform as a Service (PaaS), and ______ as a Service (SaaS).

Software

The best way of implementing a new BI system is to make it as seamless as possible by using _______.

Software with which the users (typically first line employees, supervisors, and junior management) are already familiar

The first two steps of the six-step process in creating a social media information system (SMIS) involve developing social media goals and setting metrics. What are the third and fourth steps of the process?

Step 3: identify the organization's target market; Step 4: determine and integrate into the SMIS design traits valued by the target market.

Management decisions that involved tasks and choices that encompass prescribed and definite procedures for how they should be handled are referred to as ______ decisions

Structured

Barriers to entry can protect existing firms from which of Porter's 5 forces?

The force of new competitors

Why should organizations determine their value proposition when creating their social media information system (SMIS)?

They can increase their exposure and user engagement on social media by designing an SMIS that enables them to reinforce and build on their identified strengths.

Systems that allow methods of exchanging money for goods and services to operate more efficiently are called ___.

Transaction processing systems

Management decisions that are often executed by higher-level management and include strategic decisions such as market entry or exit and capital budgeting are called ____ decisions.

Unstructured

Software that is created by humans and is designed to identify issues, find solutions to these issues, and implement the programs needed to overcome these issues with an emphasis on transactional speed is referred to as high- _____ decision-making software.

Velocity

A leading manufacturer of fitness trackers partners with a large health insurance network. Insurance network members receive a discounted fitness tracker and financial rewards for setting and achieving tracked personal fitness goals. Which characteristic of the resulting Big Data would be most directly affected by a tracker software error that counted users' arm movements as steps?

Veracity

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 ___. This tends to strengthen the firm's profitability.

Weakened

First used in 1997 by Kevin Duffy, _______ refers to e-commerce transactions (buying and selling goods and services) that are executed using wireless mobile devices including smartphones and tablet computers.

m-commerce