Exam 2: Decisions and Processes: Value Driven Business

What is a method whereby new problems are solved based on the solutions from similar cases solved in the past?

Which of the below would create transactional information?

What is the process of learning from ecosystems and adapting their characteristics to human and organization situations?

A time-series chart is a graphical representation showing change of a variable over time. Time-series charts are used for data that changes continuously, such as stock prices. They allow for a clear visual representation of a change in one variable over a set amount of time.

Product delivery is a customer-facing business process.

An important customer shows up at a hotel that is fully booked and the reservation is missing would be placed in which category for managerial decision-making challenges?

What refers to the field of artificial intelligence that works toward providing brain like powers to AI machines; in effect, it works to make machines as intelligent as the humans?

Explain the value of business processes for a company, and differentiate between customer-facing and business-facing process.

As the business and its strategies change, so do the dynamic processes. Examples of dynamic processes include managing layoffs of employees, changing order levels based on currency rates, and canceling business travel due to extreme weather.

Review the below list of key terms and determine which one typically occurs during managerial business process improvement.

Effectiveness MIS metrics measure the impact MIS has on business processes and activities, including customer satisfaction and customer conversion rates.

A Business Process Model and Notation (BPMN)event is anything that happens during the course of a business process. An event is represented by a circle in a business process model.

Which of the following are examples of dynamic processes?

Andy Benton works at the local Starbucks coffee shop and his responsibilities include taking orders, fulfilling orders, and ringing in sales. At what level of the organizational pyramid would you categorize Andy?

Tom Jordan is a manager for a McDonald's restaurant. Many of his key responsibilities include analyzing data and making key decisions for the success of his store. Tom's store has been experiencing decreased sales for breakfast services over the past 3 months. Tom is unsure why breakfast revenues are down while lunch and dinner revenues remain unchanged. Tom believes that he can drive revenue up by implementing a few different breakfast promotions such as free coffee or hash browns with the purchase of a meal. Tom performs an extensive analysis of how continuous changes in breakfast promotions could impact his daily revenue. What type of DSS analysis is Tom performing?

What is an optimizing system that can find and evaluate solutions with many more possibilities, faster and more thoroughly than a human?

A common mistake that many managers tend to make is focusing on only one type of metrics because they are easier to measure. Which type of metrics do they focus on?

When considering the 5-steps of the order-to-delivery business process, manufacturing goods are included in which of the following?

Business process modeling or mapping, is the activity of creating a detailed flowchart or process map of a work process that shows its inputs, tasks, and activities in a ________ sequence.

Key performance indicators are the metrics a company uses to evaluate progress toward critical success factors. Which of the below represents a key performance indicator?