Question 1

A __________ advantage features a product or service on which customers place a greater value than they do on similar offerings from competitors.

Accepted Answer

A)  Competitive advantage
B)  Competitor advantage
C)  Power advantage
D)  First-mover advantageE) A) and D)
F) All of the above

Question 2

A leadership plan that achieves a specific set of goals or objectives is a business strategy.

Accepted Answer

A) True 
 B)False

Question 3

The sales department needs to rely on information from operations to understand _________.

Accepted Answer

A)  Inventory.
B)  Customer orders.
C)  Demand forecasts.
D)  All of these.E) B) and C)
F) A) and C)

Question 4

Which of the following represents the department that maintains policies, plans, and procedures for the effective management of employees?

Accepted Answer

A)  Human Resources.
B)  Sales.
C)  Employee Resources.
D)  Employee Relations.E) A) and C)
F) B) and C)

Question 5

Porter suggests adopting only __________ of the three generic strategies.

Accepted Answer

The answer of Porter suggests adopting only __________ of the...

Question 6

Explain systems thinking and how management information systems enable business communications.

Accepted Answer

A system is a collection of parts that l...

Question 7

Imagine you are creating a new product to sell in an up-and-coming market.Which of the following statements indicates that it would be difficult for you to enter this new market?

Accepted Answer

A)  The threat of new entrants force is high in the up-and-coming market.
B)  The threat of new entrants force is low in the up-and-coming market.
C)  The threat of new entrants force is high during the summer months in the up-and-coming market.
D)  All of these, depending on the time of year.E) All of the above
F) None of the above

Question 8

The chief technology officer is responsible for ensuring the security of business systems and developing strategies and safeguards against attacks from hackers and viruses.

Accepted Answer

A) True 
 B)False

Question 9

Which of the following represents the relationship between functional areas in a business?

Accepted Answer

A)  Independent.
B)  Autonomous.
C)  Interdependent.
D)  Self-sufficient.E) All of the above
F) None of the above

Question 10

Product differentiation occurs when a company develops unique differences in its products or services with the intent to influence demand.

Accepted Answer

A) True 
 B)False

Question 11

If a supplier has high power, what can it do to influence its industry?

Accepted Answer

A)  Charge higher prices.
B)  Shift costs to industry participants.
C)  Limit quality or services.
D)  All of these.E) All of the above
F) B) and C)

Question 12

Your boss, Ty Jacob, has asked you to analyze the music industry using Porter's Five Forces Model.Which of the following represents the threat of substitute products or services in the music industry?

Accepted Answer

A)  Established record labels like EMI, Sony, Universal.
B)  Independent record labels.
C)  Game systems like Wii, social networks like Facebook.
D)  Taylor Swift, Beyonce, The Beatles, The Stones.E) C) and D)
F) B) and D)

Question 13

Most companies are typically organized by departments or functional areas.Which of the following is not a common department found in a company?

Accepted Answer

A)  Accounting.
B)  Payroll.
C)  Marketing.
D)  Human Resources.E) B) and D)
F) All of the above

Question 14

A variable is a business intelligence characteristic that stands for a value that cannot change over time.

Accepted Answer

A) True 
 B)False

Question 15

Demonstrate how a company can add value by using Porter's value chain analysis.

Accepted Answer

To identify competitive advantages, Mich...

Question 16

The __________ chain consists of all parties involved, directly or indirectly, in obtaining raw materials or a product.

Accepted Answer

The answer of The __________ chain consists of all parties...

Question 17

An overview of systems thinking includes input, process, output, and finances.

Accepted Answer

A) True 
 B)False

Question 18

Which of the following provides an example of data?

Accepted Answer

A)  Who are my best customers?
B)  What is my best-selling product?
C)  What is my worst-selling product?
D)  Who is customer number 12345XX?E) A) and C)
F) B) and C)

Question 19

As companies move from data to knowledge, they will start to include more and more variables for analysis resulting in better, more precise support for _____________.

Accepted Answer

A)  Decision making.
B)  Problem solving.
C)  Both A and B.
D)  None of these.E) A) and D)
F) None of the above

Question 20

Two ways to reduce buyer power are through switching costs and loyalty programs.

Accepted Answer

A) True 
 B)False

Exam 1: Management Information Systems: Business Driven MIS

A variable is a business intelligence characteristic that stands for a value that cannot change over time.

Correct AnswerverifiedShow Answer

Which of the following provides an example of data?

Correct AnswerverifiedShow Answer

Two ways to reduce buyer power are through switching costs and loyalty programs.

Correct AnswerverifiedShow Answer

The sales department needs to rely on information from operations to understand _________.

Correct AnswerverifiedShow Answer

The chief technology officer is responsible for ensuring the security of business systems and developing strategies and safeguards against attacks from hackers and viruses.

Correct AnswerverifiedShow Answer

Most companies are typically organized by departments or functional areas.Which of the following is not a common department found in a company?

Correct AnswerverifiedShow Answer

Your boss, Ty Jacob, has asked you to analyze the music industry using Porter's Five Forces Model.Which of the following represents the threat of substitute products or services in the music industry?

Correct AnswerverifiedShow Answer

Imagine you are creating a new product to sell in an up-and-coming market.Which of the following statements indicates that it would be difficult for you to enter this new market?

Correct AnswerverifiedShow Answer

A leadership plan that achieves a specific set of goals or objectives is a business strategy.

Correct AnswerverifiedShow Answer

Porter suggests adopting only __________ of the three generic strategies.

Correct AnswerverifiedShow Answer

A __________ advantage features a product or service on which customers place a greater value than they do on similar offerings from competitors.

Correct AnswerverifiedShow Answer

The __________ chain consists of all parties involved, directly or indirectly, in obtaining raw materials or a product.

Correct AnswerverifiedShow Answer

Which of the following represents the department that maintains policies, plans, and procedures for the effective management of employees?

Correct AnswerverifiedShow Answer

Explain systems thinking and how management information systems enable business communications.

Correct AnswerverifiedA system is a collection of parts that l...View AnswerShow Answer

Demonstrate how a company can add value by using Porter's value chain analysis.

Correct AnswerverifiedTo identify competitive advantages, Mich...View AnswerShow Answer

Which of the following represents the relationship between functional areas in a business?

Correct AnswerverifiedShow Answer

If a supplier has high power, what can it do to influence its industry?

Correct AnswerverifiedShow Answer

Product differentiation occurs when a company develops unique differences in its products or services with the intent to influence demand.

Correct AnswerverifiedShow Answer

An overview of systems thinking includes input, process, output, and finances.

Correct AnswerverifiedShow Answer

As companies move from data to knowledge, they will start to include more and more variables for analysis resulting in better, more precise support for _____________.

Correct AnswerverifiedShow Answer

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A system is a collection of parts that l...
View Answer

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To identify competitive advantages, Mich...
View Answer

Correct Answer
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