Exam 1: Information Systems Are Business

Kevin Campbell is an incoming student at your college.Kevin is frustrated by the cost of books,tuition and expenses,and he also needs to purchase a rather expensive laptop.In an effort to save money,Kevin begins a Facebook group finding other college students who need to purchase laptops.Soon,Kevin's Facebook group has close to 100,000 students.Kevin decides to collectively approach different computer companies to see if his group qualifies for a special discount.What business strategy is Kevin using to purchase laptops?

What is one of the most common ways a company can decrease supplier power?

Explain why competitive advantages are temporary.

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

Competitive intelligence is information collected from multiple sources such as suppliers,customers,competitors,partners and industries that analyses patterns,trends and relationships for strategic decision making.

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

Which of the following provides an example of taking data and turning it into information?

Competitive intelligence is the process of gathering information about the competitive environment,including ________.

Tiffany and Co competes in the marketplace by offering high cost custom jewellery.Tiffany & Co is following a broad market and cost leadership strategy.

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

Cheryl Steffan is the operations manager for Nature's Bread Company,which specialises in providing natural products for health conscious individuals.Cheryl is responsible for compiling,analysing and evaluating daily sales numbers to determine the company's profitability and forecast production for the next day.Which of the following is an example of knowledge that Cheryl would be using to successfully perform her job?

Knowledge includes the skills,experience and expertise coupled with information and _________ that creates a person's intellectual resources.

Which of the following is considered information?

Value chain analysis views a firm as a series of business processes that each adds value to the product or service.

Technology provides countless business opportunities,but can also lead to pitfalls and traps for a business.

Cheryl Steffan is the operations manager for Nature's Bread Company,which specialises in providing natural products for health conscious individuals.Cheryl is responsible for compiling,analysing and evaluating daily sales numbers to determine the company's profitability and forecast production for the next day.Which of the following is an example of the type of information Cheryl would be using to successfully perform her job?

Successful companies today operate cross-functionally,integrating the operations of all departments.

Updating business strategies is a continuous undertaking as internal and external environments _______.

Porter identified three generic strategies that a business could follow after identifying a market it wanted to enter.Which of the following is not included as one of Porter's three generic strategies?

Shawn McGill is on the executive board for ABC pharmaceuticals.The company produces the number one selling cancer fighting drug on the market.Due to its incredible success ABC pharmaceuticals has decided to increase the cost of the drug from $8 a pill to $15 a pill.Which force is ABC pharmaceutical using to increase its drug price?