MIS

There are a number of different business software applications that can be integrated with an ERP system. Select 3 commonly included application modules. CMOS BI CRM PM

BI CRM PM

ERP software integrates several software packages into a single platform. An example of one of these software packages is ___ software, that engineers use in the design process.

CAD

Benefits of integrating ___ into an ERP include better visibility of customer relationships, faster billing, and single source reporting via user customized dashboards.

CRM software [Customer Relationship Management]

Data mining information from the Bureau of Labor Statistics can provide insight into regional employment figures. This illustrates how data analysis can be used to examine which factor of the PESTEL analysis? Political Environmental Economic Legal

Economic

What are three advantages of using personal computers in business? Efficiency Improved team communications Increased data security Flexibility of use

Efficiency Improved team communications Flexibility of use

Most HRM modules provide a structured dashboard that provides information to managers including information such as which 3 of the following? Employee compensation Employee environmental controls Employee performance review status Employee absences or leaves

Employee compensation Employee performance review status Employee absences or leaves

Modern supply chain management systems access National Weather Service databases to track weather events that could impact logistics. This is an example of using MIS to monitor which element of a PESTEL analysis? Socio-cultural Legal Weather Environmental

Environmental

What is the main purpose of a decision support system? Help with the integration of all aspects of an organization Help interpret data and translate it into effective decision making Help manage processes involving a variety of quickly changing inputs Help extract data and create executive-level reports

Help manage processes involving a variety of quickly changing inputs

Disadvantages of implementing an ERP system include which 3 of the following? High costs Poor access to data Steep learning curve Maintenance costs

High costs Steep learning curve Maintenance costs

Because of its significant challenges during supply disruptions that occur during natural disasters (such as the COVID-19 pandemic), ___ has lost much of its popularity.

Just-in-time (JIT) manufacturing and inventory management

Integration of TPS with ERP has many advantages to managers including which 3 of the following? Reduces environmental impact Labor cost reduction Saves time Reduces human error

Labor cost reduction Saves time Reduces human error

Porter's generic business strategies fall into two separate categories, either price leadership, or product differentiation. He showed that these two strategies could be used in which two market types? Multiple select question. Niche markets International markets Broad markets Local markets

Niche markets Broad markets

Professor Michael E. Porter added to his five-forces model by highlighting basic strategies that businesses must follow if they wish to gain competitive advantage. He stated that these strategies fell into which two separate categories? Price leadership Horizontal mergers Vertical mergers Product differentiation

Price leadership Product differentiation

When conducting a SWOT analysis, managers examine factors that impact their organization's internal strengths and weaknesses. These factors are sometimes referred to as the 5 Ps. The 5 Ps include which 3 of the following? Purse product Plant Personnel

Purse Plant Personnel

By improving communications throughout the organization, as well as gaining better perceptions of consumers' opinions using CRM software, managers are able to monitor which PESTEL factor?

Socio-cultural

Cloud-based ERP systems are a form of__________as a Service (SaaS).

Software

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 continue 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? Customers Suppliers Competitors Substitutes

Suppliers

Integrating a business software module into an ERP has several advantages. Which business software module includes payment information from customers?

TPS software [Transaction Processing Systems]

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

The force of new competitors.

Select two options that are point-of-sale (POS) station output devices. Thermal printer Speaker Barcode scanner Scale

Thermal printer Speaker

Managers often use an organization's human resource management system to evaluate the relative strength or weakness of its ___. past experiences (reputation) purse (finances) personnel (workforce) plant (physical attributes)

personnel (workforce)

ERP systems help organizations improve operational efficiency in which 3 of the following ways? Customizable Low start-up cost Access to data Centralized database

- Customizable - Access to data - Centralized database

Benefits of Cloud-based ERP, over on-premises ERP solutions, include which 3 of the following? - Organizations using cloud-based ERP have reduced IT labor expenses. - Cloud-based ERP allows organizations to access reports from remote locations. - They have lower IT infrastructure expenses. - Cloud-based options provide more control over on-premises ERP solutions.

- Organizations using cloud-based ERP have reduced IT labor expenses. - Cloud-based ERP allows organizations to access reports from remote locations. - They have lower IT infrastructure expenses.

One of the first computer-aided design programs ever developed was also among the first to be integrated into ERP systems. This popular program is ___ . AutoCAD CAD-illac CADdie BarCAD

AutoCAD

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

ERP software provides value by integrating several software packages into a single platform. An example of one of these software packages is ___ software, that records ledger journaling and billing.

accounting

Software designed to handle a variety of financial calculations that are used for reporting and monitoring of business performance including tracking accounts receivable and payable, billing, and payroll along with payment processing, ledger journaling, expenses, and purchase orders are referred to as _______ system software.

accounting

In the initiation process of project management the client and project manager determine if the project is SMART. The A in SMART refers to ___. accurate actionable attainable awesome

attainable

According to Professors W. Chan Kim and Renee Mauborgne, Cirque d'Soleil used a ___ ocean strategy.

blue

Management Information Systems allow managers to build upon an organization's existing strengths to create Management Information Systems allow managers to build upon an organization's existing strengths to create drop zone empty.

competitive advantages

Using technology to transform a market or to create an entirely new market is called creating a______innovation.

disruptive

Karl Benz invented the internal combustion automobile in 1885. Adam Smith described the efficiencies of division of labor (the assembly line) in 1776. However, when Henry Ford combined these two to produce an inexpensive automobile with the Model T in 1908, he transformed the personal transportation market. Professor Clayton Christensen called this a ___. blue ocean strategy economies of scale disruptive innovation red ocean strategy

disruptive innovation

Data collected from ___ includes customer information, order history, shipping information, and customer satisfactions measures.

e-commerce operations

How quickly consumer demand changes with a change in price is referred to as________of demand.

elasticity

Enterprise_______planning (ERP) is a software that businesses use to manage activities in both the internal and external operational environment.

enterprise resource planning

Small, drive-up, coffee stands seem to be popping up on every street corner. Because of this, these coffee vendors have difficulty raising prices significantly higher than their competitors. This is because the coffee stand business has extremely ___. low barriers to entry high monopolistic competition large economies of scale high barriers to entry

low barriers to entry

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 ___. oligarchy competition pure competition a monopoly monopolistic competition

monopolistic competition

Walmart uses economies of_______to pressure suppliers to lower their prices, allowing Walmart to offer lower prices to its customers and decrease competition.

scale

While ERP systems offer many competitive advantages to users, particularly those in upper management, a significant disadvantage is their ___.

high costs

A SWOT analysis attempts to identify, an organization's (or an individual's) internal strengths and weaknesses and examines external opportunities and______

threats

Advantages of integrating project management software into an enterprise resource planning system include which 3 of the following? - Integration provides a centralized location where data is stored and easily retrieved, allowing management to review planning, management, and analysis of an organization's project. - Integration provides management with the ability to assign project management tasks and responsibilities. - Integration allows for projects to be divided into phases, subprojects, and tasks to make data analysis and project monitoring easier. - Integration ensures compliance with ISO 9001 requirements allowing project managers to compete projects in many parts of Europe.

- Integration provides a centralized location where data is stored and easily retrieved, allowing management to review planning, management, and analysis of an organization's project. - Integration provides management with the ability to assign project management tasks and responsibilities. - Integration allows for projects to be divided into phases, subprojects, and tasks to make data analysis and project monitoring easier.

ERP software takes data from computer- ______ - design (CAD) files and decodes the design and manufacture specifications into usable information for use throughout the manufacturing process.

aided

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

its competitors

Along with identifying wanted or needed products, CRM software allows organizations to accomplish which 3 of the following? ultimately increase sales assist in environmental cleanup identify and attract prospective customers maintain customer engagement and relationships

ultimately increase sales identify and attract prospective customers maintain customer engagement and relationships

Cloud computing can best be described as ______. computing data analyses in the Cloud avoiding issues with the Internet to store data using the Internet to store and access resources setting up a private server on the Internet

using the Internet to store and access resources

In the 1980s, Professors Marvin B. Lieberman and David B. Montgomery of UCLA's Anderson School of Management examined the advantages and disadvantages of being the first firm to enter a product into the market. Three advantages they described included were: - Consumers often become accustomed to products that they adopt and a firm that attempts to compete must create a product that meets the specifications established by the initial entrants. - The firm's employees will learn from experience how to use technologies and processes to develop the product. - The first firm to enter the market has an opportunity to secure important raw materials and to develop necessary logistics lines ahead of any other competitors. - The organization focuses on a differentiation strategy while also seeking price leadership.

Consumers often become accustomed to products that they adopt and a firm that attempts to compete must create a product that meets the specifications established by the initial entrants. The firm's employees will learn from experience how to use technologies and processes to develop the product. The first firm to enter the market has an opportunity to secure important raw materials and to develop necessary logistics lines ahead of any other competitors.

Because they facilitate informed business decisions by integrating data from various operational areas within the organization, _________resource planning systems allow managers to view reports that are generated from across the organization.

enterprise

Enterprise resource management (ERP) systems can be designed to include a module provides the ability to join human______management and information technology to provide a single source of connectivity and data exchange for personnel-related information.

human resource management

Information management systems that help to ensure that a minimal number of product touches occur from product creation to customer purchase are known as ___ systems. Information management systems that help to ensure that a minimal number of product touches occur from product creation to customer purchase are known as ___ systems. drop zone empty.

inventory management

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 ___. red ocean strategy blue ocean strategy generic business strategy economies of scale

red ocean strategy

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 ___. Multiple choice question. generic business strategy red ocean strategy economies of scale blue ocean strategy

red ocean strategy

The primary advantage of mainframes computers is that they ______. provide employees with access to company files and resources allow modifications to system capacity while the system is in use reduce the amount of data storage required for a company's resources allow for communication via online meetings and e-mail

allow modifications to system capacity while the system is in use

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. 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. drop zone empty.

fast-follower

Systems that allow organizations the ability to measure cash flows, calculate tax liabilities, maintain compliance to legal and accounting regulations, and optimize profitability are ______ management systems.

financial

Systems that allow organizations the ability to measure cash flows, calculate tax liabilities, maintain compliance to legal and accounting regulations, and optimize profitability are_____management systems.

financial

Managers often use the PESTEL analysis to examine the political, economic, environmental, legal and which 2 other issues facing an organization? socio-cultural technological stakeholders tele-communication

socio-cultural technological

Software designed to handle a variety of financial calculations that are used for reporting and monitoring of business performance including tracking accounts receivable and payable, billing, and payroll along with payment processing, ledger journaling, expenses, and purchase orders are referred to as ________ system software.

accounting

Regulatory and compliance information can be created and maintained from a centralized location when ___ is integrated into an enterprise resource management solution.

financial management systems software

That employees will learn from experience how to use technologies to develop a product, gaining a "head start" over any competition that attempts to enter the market is considered a ___.

first-mover advantage

In 1979, Professor Michael E. Porter published "How Competitive Forces Shape Strategy" in the Harvard Business Review. In this paper, he described factors that impact businesses. The became known as Porter's________forces.

five

Coca-Cola and PepsiCo dominate the soft drink market. However, during the 2000s, many customers switched from soft drinks to water, causing Coca-Cola and PepsiCo to develop Dasani and Aquafina. The ability of customers to switch from one product to an alternate product illustrates what Porter called the strength of __. customers competitors substitutes suppliers

substitutes