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A fact is the confirmation or validation of an event or object.In the past,people primarily learned facts from books.

A) True
B) False

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Your boss,Kerry Miller,has asked you to analyze the soft drink industry using Porter's five forces model.Which of the following represents rivalry in the soft drink industry?


A) Pepsi requires stores that carry Pepsi products to commit to minimum orders of 1,000 cases.
B) Walmart negotiates a lower cost per bottle from Coke in exchange for premium shelf space in every Walmart store.
C) Zevia Natural Diet Soda begins selling directly over the Internet.
D) Coke and Pepsi submit bids to the owner of a football stadium for the exclusive sale of their products during games.

E) A) and B)
F) C) and D)

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The banking industry has implemented several competitive advantages including ATM's,online bill pay services,and electronic statements.Of course,these competitive advantages were quickly duplicated by any competitor that wanted to remain in the banking industry.These were all examples of ___________ competitive advantages.


A) Acquiring new technology products and services
B) Hiring new employees
C) Reducing expenses
D) Gaining invaluable feedback from customers

E) All of the above
F) C) and D)

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What are goods?


A) Material items or products that customer's will buy to satisfy a want or need.
B) Tasks performed by people that customer's will buy to satisfy a want or need.
C) The process where a business takes raw materials and processes them or converts them into a finished product for its goods or services.
D) The rate at which goods and services are produced based upon total output given total inputs.

E) B) and C)
F) All of the above

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Which of the following provides an accurate definition of systems thinking?


A) A way of monitoring the entire system by viewing multiple inputs being processed or transformed to produce outputs while continuously gathering feedback on each part.
B) A way of monitoring individual components including an input,the process,and an output,while continuously gathering feedback on the entire system.
C) A way of monitoring the entire system by viewing multiple inputs being processed or transformed to produce outputs while continuously gathering feedback on the entire system.
D) A way of monitoring singular parts of a system by viewing a single input that is processed or transformed to produce an entire system that is continuously monitored to gather feedback on each individual part.

E) B) and D)
F) B) and C)

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What is a way of monitoring the entire system in a company,by viewing the multiple inputs being processed to produce outputs?


A) Feedback thinking.
B) Systems thinking.
C) Output management.
D) Operational thinking.

E) C) and D)
F) A) and D)

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According to Porter companies that wish to dominate broad markets should operate using a ________ strategy.


A) Cost leadership with a low cost
B) Differentiation with a low cost
C) Cost leadership with a high cost
D) All of the above

E) B) and C)
F) A) and D)

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Your boss,Ty Jacob,has asked you to analyze the music industry using Porter's five forces model.Which of the following represents buyer power in the music industry?


A) Established record labels like EMI,Sony,Universal.
B) Walmart,Target,iTunes.
C) Independent record labels.
D) Game systems like Wii,social networks like Facebook.

E) B) and C)
F) A) and D)

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When analyzing the book store industry,some of today's businesses compete with different business strategies and cost strategies.Which of the following is using a broad market competitive scope along with a low cost strategy?


A) Amazon.com.
B) Any local independent book store that specializes in antique books.
C) Barnes & Noble.
D) Borders books.

E) A) and D)
F) B) and C)

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Competitive __________ is the process of gathering information about the competitive environment,including competitors' plans,activities,and products,to improve a company's ability to succeed.

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Who is responsible for overseeing all uses of MIS and ensuring that MIS strategically aligns with business goals and objectives?


A) Chief Knowledge Officer (CKO) .
B) Chief Privacy Officer (CPO) .
C) Chief Technology Officer (CTO) .
D) Chief Information Officer (CIO) .

E) All of the above
F) A) and D)

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Which of the following provides an example of information?


A) Who is customer number 12345XX?
B) What is product number 12345XX?
C) What customer number is Bob Smith?
D) What is my worst-selling product?

E) B) and D)
F) A) and D)

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MIS can be an important enabler of business success and innovation.Which of the below statements is accurate when referring to MIS?


A) MIS equals business success and innovation.
B) MIS represents business success and innovation.
C) MIS is not a valuable tool that leverages talent.
D) MIS is a valuable tool that can leverage the talents of people who know how to use and manage it effectively.

E) A) and B)
F) A) and C)

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Identify the different departments in a company and why they must work together to achieve success.

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Companies are typically organized by dep...

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Michael Porter identified pressures that can hurt potential sales.Knowledgeable customers can force __________ prices by pitting rivals against each other.

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What is data converted into a meaningful and useful context?


A) Competitive intelligence.
B) Information.
C) Buyer power.
D) First-mover advantage.

E) B) and D)
F) B) and C)

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If you were thinking about a washing machine as a system which of the following represents the feedback?


A) The dirty clothes,water,and detergent.
B) The clean clothes.
C) The wash and rinse cycle.
D) The light indicating that the washer is off balance and has stopped.

E) B) and C)
F) A) and B)

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The chief privacy officer is responsible for ensuring the ethical and legal use of information within a company.

A) True
B) False

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Which of the following is typically performed by the sales or marketing department?


A) Manage enterprise-wide processes.
B) Maintain employment policies.
C) Manage cross-enterprise processes.
D) Maintain transactional data.

E) A) and C)
F) B) and C)

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Which of the following is not a typical way that a company would duplicate a competitive advantage?


A) Acquiring the new technology.
B) Copying the business operations.
C) Hiring away key employees.
D) Carrying large product inventories.

E) A) and B)
F) A) and D)

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