Exam 1: Information Systems Are Business

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

Supplier power is one of Porter's five forces,and it measures the suppliers' ability to influence the prices they charge for supplies (including materials,labour and services).

When a company is the first to market with a competitive advantage,it gains a particular benefit known as competitive intelligence.

A system is a collection of parts that link to achieve a common purpose.Systems thinking is a way of monitoring _______________.

Jennifer Bloom is writing a paper and she must determine which of Porter's three generic strategies The Museum Company has implemented.Jennifer finds out that The Museum Company offers specialty products found only in museums around the world to affluent customers.What would Jennifer determine The Museum Company is using as its generic strategy?

When analysing Porter's three generic strategies for entering a market,if you have a focused strategy what market should you target?

According to Porter's three generic strategies,Hyundai is following a business strategy that focuses on 'broad market and low cost'.

Sandy Fiero works as the Chief Knowledge Officer for Bend Lumbar Company.She has been given the responsibility to create a product or service that will bring added value to its customers and,increase the company's revenue.Sandy determines that the best value she can add is by creating a service that offers free next-day shipping on any order over $50.Where in the value chain is Sandy adding value?

What is a competitive advantage?

The value chain groups a company's activities into two categories: primary value activities and support value activities.

Information technology can enable departments to more efficiently and effectively perform their core ____________.

Compare Porter's three generic strategies.

Business intelligence is information collected from multiple sources.Which of the following provides an example of a source that would be included in business intelligence?

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

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

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

Companies today are successful when they combine the power of the information age with traditional business methods.

Data is useful for understanding individual sales,but to gain deeper insight into a business data needs to be turned into information.Which of the following offers an example of turning data into information?

Which of the following statements is true?

Which of the following offers an example where Porter's Five Forces are mostly weak and competition is low?