MIS EXAM 1
What is the essential purpose of a supply chain management system (SCM)?
A SCM helps managers anticipate supply issues, such as increased demand or production slowdowns, so they can make quick accommodations.
What was Weber's view on the use of physical force?
A police force overseen by a local government enforces laws within a community
Business applications that specifically assist senior executives in gaining a broader view of the competitive landscape are referred to as
EIS.
A software as a service (SaaS) system is designed to meet most organizations' needs for a business management system, with minimal startup costs.
True
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
The concept of "share of customer" focuses on getting
the most business from the fewest customers.
Explain why managers use customer relationship management systems. More than one answer may be correct.
to target profitable customers, to customize marketing messaging, to speed the supply chain
Cloud computing can best be described as
using the Internet to store and access resources.
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, when a customer is not connected to social media platforms
According to Henri Fayol, productivity and efficiency are increased when
workers specialize and become proficient in their assigned tasks.
What is the goal of the process design step of business process management (BPM)?
Identify redundancies and inefficiencies in existing processes.
Who is quoted as saying "Do what you do best and outsource the rest"?
Peter Drucker
Which step of business process management allows managers to create a continually improving process?
Step 5: process optimization
Max Weber believed that organizations were best supported by which of the following strategies?
The use of specialization among employees.
Organizations can use CRM software to help them identify marketing qualified leads (MQLs).
True
Share of wallet is also known as share of
customer.
Benefits administration involves the human resource (HR) function of
enrolling, maintaining, managing, and discontinuing employee benefits.
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
The ultimate purpose of a customer relationship management system (CRM) is to
increase sales, market share, and profit.
The stage of the project management (PM) process in which project objectives are identified and feasibility studies are conducted is the
initiation phase.
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 & measure customer satisfaction
A long-standing company is expanding their existing workforce. What, in all likelihood, will they invest in terms of computing capabilities?
personal computers
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.
CRM software provides which of the following important customer qualification benefits? More than one answer may be correct.
the ability to make distinctions between true prospects and unrealistic sales opportunities the opportunity to create customized sales funnels based on specific organizational needs and sales characteristics the ability to distinguish between ethical and nonethical sales opportunities ways to manage projects throughout multiple supply lines
The first modern transaction processing system was
the cash register.
What piece of the executive information system has become more vital as organizations have become increasingly geographically dispersed?
the communications element
In addition to the probable outcome, what other information does modern business intelligence software provide?
the degree of likelihood of the outcome
Which of the following descriptions accurately apply to three CRM analytics functions?
Customer value and profitability is a function that identifies high-value customers. Personalization is a function that supports customized marketing. Predictive modeling is a function that connects prior information to future decisions. Customer individuation is a function that downgrades unreliable customers.
What is the primary reason that businesses use CRM systems to help them identify MQLs and SQLs during the customer acquisition process?
Different engagement is needed to turn each type of lead into a customer.
Why does enterprise resource planning (ERP) systems software include all of the software used to manage different departments within a corporation?
Enterprise resource planning software centralizes the key business applications of a corporation.
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
According to the Observer Effect, an employee whose work is monitored will become nervous as their manager focuses attention on them and will therefore be less productive.
False
As a category of expenses for U.S. businesses, information technology (IT) costs are decreasing.
False
Extended employee training time often must be accepted along with the introduction of a new inventory management system.
False
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
Many managers use employee compensation management software to motivate employees and to maintain accurate documentation of substandard performance.
False
Payroll functionality was only added to human resource information systems once they became cloud-based.
False
Research on how qualified sales leads positively affect both close rates and ROI (return on investment) indicates that a firm's use of CRM software is not relevant.
False
Of the following statements, choose one that provides the underlying reason a company invests in a customer relationship management system (CRM).
It is far less expensive to retain an existing customer than to acquire a new one.
How are managers' jobs expected to change as management information system (MIS) technology and tools improve?
Managers will be freed from tasks performed by online services or staff using collaboration tools.
Who are some of the major suppliers of supply chain management software? More than one answer may be correct.
Oracle (Fusion), SAP, Rovio
Which company became one of the world's largest merchant service aggregators after it was purchased by eBay in 2002?
PayPal
Which company was formed by Jack Dorsey, cofounder and CEO of Twitter, to provide small business owners with aggregator services and a credit card payment system they could operate through their iPhones?
Square
A manager wants to accurately predict how many light-up three-wheeled scooters they'll need to meet holiday demand. Which component of supply chain management would the manager be using to determine the appropriate number to produce?
Supply chain planning
What is one major distinction between telecommuting and flextime arrangements?
Telecommuters often must work during regular business hours.
Which component of a business management system can help a manager check and report on the company's current inventory?
a database management system (DBMS)
What services does Quickbooks provide to its customers?
accounting services, payroll management, human resources services credit card processing, merchant aggregator services decision support services, business intelligence services supply chain management services, operations management services
From the following list, select ways in which CRM systems are used for customer acquisition.
acquiring customers using social media, search, affiliate, referral, and email marketing tracking customer acquisition using a lead generation funnel tracking prospective and current customers through all stages of the funnel serving as the sole means of identifying all prospective leads
The primary advantage of mainframes computers is that they
allow modifications to system capacity while the system is in use.
Which type of business management system would best enable executives to quickly adapt to dynamic business environments by implementing their own changes?
an on-premises system
Frederick Taylor used time-and-motion studies to
break down work tasks to find ways to improve them.
How did the first cash registers "register" a transaction?
by adding its value to the total amount of payments already received
What is the server in a client-server network?
computer hardware
From the following list, select the payment methods that small retailers can now process quickly using business applications technology.
credit cards debit cards mobile payments (Apple Pay, Google Wallet, etc.) cash
The design of a CRM system that collects data on customer interaction should include which of the following elements?
customer interaction monitoring, information on individual customers, automation factors, unscripted communication
The understanding that retaining customers is more profitable than finding new ones is behind which business management system?
customer relationship management
It is far less expensive to retain an existing customer than it is to acquire a new customer. This is the concept behind the use of which business computer application systems?
customer relationship management systems
HubSpot, Zoho, and Freshsales focus on
customer relationship management.
From the following options, select three sources of information that a CRM system uses to collect data about current customers.
customer surveys, social media, monitoring procurement methods, smartphones
Executive information system (EIS) software is a version of
decision support system (DSS) software.
What software systems are commonly used across the logistics industry, from railway scheduling to managing port visits for ships to operating locks on waterways?
decision support systems
Integrating database management systems (DBMS) with predictive analytics to give managers a recommended course of action is the focus of
decision-making management information systems.
A company has an excess of puffer jackets at the end of the season that it wants to sell quickly. In order to quickly sell this excess inventory, they send out emails to customers currently in their database. However, they want to determine what type of sale their customers find most motivating, so they send out three different emails with different discounts (BOGO free, 50% a purchase over $100, or free expedited shipping). The information gained during this campaign will be tracked, and customers who made purchases will receive similar email offers in the future. What type of CRM strategy is the company using?
demonstrating the value of CRM
Payscale.com, Payfactors.com, and Salary.com are sites that offer
employee compensation management solutions.
An executive wants to know what would happen to company profits at the one-year, two-year, and five-year point if she reduced spending on manufacturing but increased spending on marketing and customer outreach. What system would she use to model this?
enterprise resource planning system
To provide senior management with visibility of nearly all aspects of an organization's operations many firms integrate their SCM apps with their
enterprise resource planning system.
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.
Apple has a very high customer equity (CE) value. Apple has gained this high CE value due to
extreme customer loyalty.
One benefit of using a CRM system to segment a market (rather than another type of market segmentation tool) is that a good CRM tool
facilitates using the company's own, collected data about customers.
When a business is selecting a customer segmentation tool, what factor or feature does Salesforce.com recommend the business consider? More than one answer may be correct.
integration, data collection tools, cost, location
Calculating reordering points and order quantity levels are key advantages of modern
inventory management systems.
John Locke's labor theory of property is applied to modern management theory because
it explains what motivates people to work: the desire to become personally wealthier.
What did Henri Fayol consider to be the main roles or responsibilities of a manager?
planning, organizing, staffing, directing, and controlling processes
From the following list, select the technologies that are required for businesses to accept payment via Apple Pay and Google Wallet.
point-of-sale (POS) device, near field communication (NFC), radio frequency identification (RFID)
Which of the following uses algorithms to determine likely outcomes given a set of inputs?
predictive analysis
Smaller businesses are able to get the benefits of an enterprise resource (ERP) system through
scalable cloud-based ERP systems.
Peter Drucker felt the most important responsibility of a corporation is to
serve its customers.
Of the following business computer applications, which one offers the manager a single dashboard that integrates reports from multiple logistics software products?
supply chain management (SCM) application
Providing managers with increased visibility of the entire logistics process so that they can improve the efficiency of the entire system is the primary function of any
supply chain management system.
To calculate an organization's customer equity (CE) value we first determine
the future lifetime revenue the organization's customers will generate.
