OMIS 350 FINAL JOSE

What is legendary GE CEO Jack Welch quoted as saying about competition?

"If you don't have a competitive advantage, don't compete."

ERP software integrates several software packages into a single platform. Which of the following software packages stores employee compensation and performance information?

HRM software

Who published "How Competitive Forces Shape Strategy" in the Harvard Business Review in 1979?

Michael E. Porter

Software that businesses use to manage activities in both the internal and external operational environment is known as Enterprise Resource

Planning.

Cloud-based ERP solutions are usually offered as

SaaS

It is especially important for startup companies to create and follow a well-designed e-commerce strategy. Which of the following is the last phase in a well-designed strategy?

mobile platform planning and implementation

It is especially important for startup companies to create and follow a well-designed e-commerce strategy. Which of the following is the first phase in a well-designed strategy?

web planning

On an e-commerce presence map, what is presence?

websites, email, social media sites, and offline media

Michelle runs a shop on Etsy. One month, she spends $2,800 to promote her shop on Etsy and other social media sites. In that month, she gains 50 new customers. All customers purchased products that cost $100, that were marked up 100 percent. What is the actual amount of revenue earned per customer, taking into account materials and promotional costs?

−$6.00

Michelle runs a shop on Etsy. One month, she spends $2,800 to promote her shop on Etsy and other social media sites. In that month, she gains 50 new customers. What is her customer acquisition cost for that month?

$56

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 scenarios represents a customer acquisition cost of $100?

A company spends $100,000 on advertising and marketing in one month. They gain 1,000 new customers in that month.

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.

What is a key difference between business-to-government (B2G) transactions and other types of e-commerce?

B2G transactions involve prenegotiated contracts.

Of the following software packages integrated into an enterprise resource planning system, which one is used by engineers in the design process?

CAD software

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.

Which is the best explanation of why technology is highlighted in a PESTEL analysis?

Failing to keep up with advances in technology can harm an organization's competitiveness.

Professor Michael E. Porter published "How Competitive Forces Shape Strategy" in the Harvard Business Review. In this paper, he described how all organizations must develop plans to deal with certain factors if they wish to succeed, or even continue to exist. These became known as

Porter's 5 Forces.

Cloud-based ERP systems are a form of

Software as a Service (SaaS)

Integrating a business software module into an ERP has several advantages. Which of the following business software modules includes customer payment information?

TPS software

Which statement best describes how managers use management information systems to develop SWOT analyses?

They use multiple management information systems to examine the key factors that influence the internal strengths and weaknesses of any business.

What is a downfall to just-in-time manufacturing and inventory management?

When supply chain disruptions occur, a lack of sufficient inventory on hand can lead to widespread shortages

What is the relationship of blue ocean strategy to price leadership versus product differentiation?

With a blue ocean strategy, an organization focuses on both differentiation and price leadership

What type of software can be integrated with ERP software to record ledger journaling and billing in the same platform as other, related data?

accounting

Creating an entirely new market is an example of a ________ ocean strategy.

blue

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

What does business-to-consumer (B2C) e-commerce replace?

brick-and-mortar store locations

A key component, and major advantage, of an ERP is its

centralized database

Simon sells products with higher perceived values than his competitors' offerings. This provides Simon's firm with

competitive advantage.

Management information systems allow managers to build upon an organization's existing strengths to create

competitive advantages.

In order to gain market share, a business must differentiate itself from its

competitors

Online marketplaces where one consumer sells to another consumer are called

consumer-to-consumer (C2C).

As e-commerce continues to develop, many retailers are likely to maintain some type of "brick-and-mortar" store or physical location primarily because

consumers expect integrated shopping experiences that include face-to-face options.

Saraiya runs a small café. She would like to start placing small ad buys on social media and hires an analytics firm to determine which platforms she should advertise on. What type of cost would this be considered?

customer acquisition cost

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

Using technology to transform a market or to create an entirely new market is called creating a(n) ________ innovation.

disruptive

Sears revolutionized catalog (mail order) sales but failed to make the e-commerce leap. Amazon capitalized on this technology. What concept underlies Amazon's success?

disruptive innovation

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.

Which type of ERP module collects data such as customer information, order history, shipping information, and customer satisfactions measures?

e-commerce operations

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

A manager is using the organization's ERP software to generate a report that links its human resources data to its overall financial performance. What is one type of HR data that the ERP accounting module could factor into this report?

employees' payroll and benefits

National Weather Service databases are used by modern supply chain management systems to track weather events that could impact logistics. Which element of a PESTEL analysis does this example represent?

environmental

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

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

fast-follower

Rather than creating a new product, Chinese manufacturers have been notably successful at adopting a different strategy. They have been able to make and offer a competing product so rapidly that the majority of adopters have a choice when purchasing the product for the first time. This is referred to as a

fast-follower strategy.

What must be integrated into an organization's enterprise resource management solution to allow it to create and maintain regulatory and compliance information from a centralized location?

financial management systems software

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.

Vector and raster files are

geographic data

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

high costs.

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

A sales associate has been hired to write blog posts that will be regularly published on a blog about new beauty products. The blog posts are designed to include the SEO terms that relate to the company's newest skin care product, using the keywords that will also be used in their advertising campaigns. What part of the e-commerce timeline would this be a part of?

implementation

What is the overarching goal of organizations choosing to adopt an enterprise resource planning (ERP) system?

increase operational efficiency

With the increasing presence of Internet e-commerce sites, the force of customers has

increased.

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

Coffee vendors who operate small, drive-up coffee stands find it difficult to charge significantly higher prices than their many competitors do. What aspect of the coffee stand business makes raising prices difficult?

its low barriers to entry

With a product differentiation strategy, a company charges more for its product than its competitors charge for theirs because:

its product is unique in a way that justifies the higher price.

An online photo printing company can temporarily lose its e-commerce ubiquity if

its website crashes due to a coding error or attack by hackers.

Economies of scale means using

large production or purchasing power.

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.

Users often find it difficult to implement or even comprehend a new ERP system without significant training because of ERPs' steep

learning curves.

An international automobile manufacturer is concerned about how its global operations will be impacted by changing government standards for auto emissions and fuel efficiency. Which component of a PESTEL analysis can best help the manufacturer evaluate any threats posed by these policy changes?

legal

Which of these is the "L" factor that managers examine while conducting a PESTEL analysis?

legal considerations

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

location-based services (LBS)

E-commerce transactions that are executed using wireless mobile devices are known as

m-commerce.

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

E-commerce ________ includes creating marketing messages that contain the individual's name, appeal to his/her interests, and take their purchase behavior into account.

personalization

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)

A branch manager for a national car rental company is in the process of conducting a SWOT analysis for her location. Which of the 5 Ps can she examine using the company's inventory management system for its rental fleet?

plant (physical attributes or resources)

The organizations likely to benefit the most from the global reach of e-commerce are those that

previously depended on foot traffic into one physical store to sell their products.

What aspect of today's business environment is central to the need for robust transaction management processing systems?

proliferation of e-commerce-based organizations

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.

In the initiation phase of project management, the client and project manager determine if the project is SMART. What does the R in SMART refer to?

realistic

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.

Which PESTEL factor can managers monitor by improving communications throughout the organization and gaining better perceptions of consumers' opinions using CRM software?

sociocultural

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 force of

substitutes

A business must not only look at its direct competitors, but also must contend with those firms that offer a product that a consumer might alternatively choose. For example, McDonald's and Burger King can be considered competitors and if one firm raises prices the other firm might gain its customers. However, if both firms raise their prices, customers may choose to purchase pizza instead. Porter refers to this as the force of

substitutes.

If McDonald's and Burger King raise prices too high, customers may switch from burgers to tacos. This illustrates Porter's force of

substitutes.

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

During the 1950s, automobile manufacturers had little control over labor costs because the United Auto Workers union (UAW) exercised considerable control over labor

supply

The e-commerce company with the highest revenue is based in which country?

the United States

Which of Porter's 5 forces is countered by the barriers to entering a market?

the force of new competitors

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

M-commerce is a subset of

traditional e-commerce

Manuel runs a small business that paints residential interiors. He has decided most of his current customers can best be reached by sending out a seasonal email newsletter. He will target new customers by placing ads on Facebook targeted at people located within 20 miles of his business who have searched for house painters. Where would he place this information on an e-commerce presence map?

type of presence

E-commerce ________ is the ability of an organization to create a strong presence among consumers in many places, with minimal time constraints, to sell them products and services.

ubiquity

Online content that has been created and posted by unpaid contributors such as customers or fans of a product or service is referred to as

user-generated.

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.

To remain relevant in today's e-commerce landscape, many businesses use progressive ________ applications to undertake m-commerce

web