Question 1

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

Accepted Answer

A) True 
 B)False

Question 2

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

Accepted Answer

A) True 
 B)False

Question 3

Businesses rarely need to update business strategies as the business environment remains relatively stable.

Accepted Answer

A) True 
 B)False

Question 4

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 an added value to its customers to 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?

Accepted Answer

A) The primary value activity outbound logistics. 
B) The primary value activity inbound logistics. 
C) The primary value activity marketing and sales. 
D) The primary value activity operations. 
A) The primary value activity outbound logistics. 
B) The primary value activity inbound logistics. 
C) The primary value activity marketing and sales. 
D) The primary value activity operations.

Question 5

What is the rate at which goods and services are produced based upon total output given total inputs?

Accepted Answer

A) Goods 
B) Services 
C) Production 
D) Productivity 
A) Goods 
B) Services 
C) Production 
D) Productivity

Question 6

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

Accepted Answer

A) True 
 B)False

Question 7

Which of the following is considered a service?

Accepted Answer

A) Selling groceries 
B) Managing a team 
C) Cutting hair 
D) All of the above 
A) Selling groceries 
B) Managing a team 
C) Cutting hair 
D) All of the above

Question 8

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

Accepted Answer

A) Resources. 
B) Intelligence. 
C) Expectations. 
D) Enterprise information. 
A) Resources. 
B) Intelligence. 
C) Expectations. 
D) Enterprise information.

Question 9

A standardized set of activities that accomplish a specific task is called a supply chain component.

Accepted Answer

A) True 
 B)False

Question 10

The chief knowledge officer is responsible for collecting,maintaining,and distributing company knowledge.

Accepted Answer

A) True 
 B)False

Question 11

Paula Logston is the owner and operator of a high-end online custom clothing company.Paula has never heard of Porter's Five Forces model and she wants to understand why she would perform an analysis using it.If you were tasked with explaining Porter's Five Forces model to Paula what would be the primary reason she would want to use this type of analysis?

Accepted Answer

A) To help Paula choose a clothing business focus. 
B) To help Paula evaluate the attractiveness of the clothing industry. 
C) To help Paula evaluate and execute business goals. 
D) All of the above. 
A) To help Paula choose a clothing business focus. 
B) To help Paula evaluate the attractiveness of the clothing industry. 
C) To help Paula evaluate and execute business goals. 
D) All of the above.

Question 12

How are the majority of companies today typically organized?

Accepted Answer

A) By departments or functional areas. 
B) By departments or financial areas. 
C) By degree or financial areas. 
D) All of the above. 
A) By departments or functional areas. 
B) By departments or financial areas. 
C) By degree or financial areas. 
D) All of the above.

Question 13

Buyer power is included as one of Porter's three generic strategies.

Accepted Answer

A) True 
 B)False

Question 14

Apple utilized the first-mover ________ with its iPod product.

Accepted Answer

The answer of Apple utilized the first-mover ________ with its...

Question 15

Cars,groceries,and clothing are all examples of goods.

Accepted Answer

A) True 
 B)False

Question 16

The department within a company that performs the function of selling goods or services is called _______________:

Accepted Answer

A) Marketing. 
B) Sales. 
C) Finance. 
D) Operations Management. 
A) Marketing. 
B) Sales. 
C) Finance. 
D) Operations Management.

Question 17

Cheryl Steffan is the operations manager for Nature's Bread Company,which specializes in providing natural products for health conscious individuals.Cheryl is responsible for compiling,analyzing,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 a piece of data Cheryl would be using to successfully perform her job?

Accepted Answer

A) Craig Newmark is customer number 15467. 
B) Compare the costs of supplies including energy over the last five years to determine the best-selling product by month. 
C) Best-selling product by day. 
D) Best-selling product changes when Tony the best baker is working. 
A) Craig Newmark is customer number 15467. 
B) Compare the costs of supplies including energy over the last five years to determine the best-selling product by month. 
C) Best-selling product by day. 
D) Best-selling product changes when Tony the best baker is working.

Question 18

Which of the below is the key term that defines the confirmation or validation of an event or object?

Accepted Answer

A) Buyer power. 
B) Data. 
C) Fact. 
D) Entry barrier. 
A) Buyer power. 
B) Data. 
C) Fact. 
D) Entry barrier.

Question 19

What is the support value activity that provides employees with training,hiring,and compensation?

Accepted Answer

A) Procurement. 
B) Operations resource management. 
C) Human resource management. 
D) Firm infrastructure. 
A) Procurement. 
B) Operations resource management. 
C) Human resource management. 
D) Firm infrastructure.

Question 20

Today's workers are referred to as _______________ and they use BI along with personal experience to make decisions based on both information and intuition,a valuable resource for any company.

Accepted Answer

A) Knowledge workers 
B) Knowledge thinkers 
C) Knowledge resources 
D) All of the above 
A) Knowledge workers 
B) Knowledge thinkers 
C) Knowledge resources 
D) All of the above

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

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

Businesses rarely need to update business strategies as the business environment remains relatively stable.

What is the rate at which goods and services are produced based upon total output given total inputs?

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

Which of the following is considered a service?

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

A standardized set of activities that accomplish a specific task is called a supply chain component.

The chief knowledge officer is responsible for collecting,maintaining,and distributing company knowledge.

How are the majority of companies today typically organized?

Buyer power is included as one of Porter's three generic strategies.

Apple utilized the first-mover ________ with its iPod product.

Cars,groceries,and clothing are all examples of goods.

The department within a company that performs the function of selling goods or services is called _______________:

Which of the below is the key term that defines the confirmation or validation of an event or object?

What is the support value activity that provides employees with training,hiring,and compensation?

Today's workers are referred to as _______________ and they use BI along with personal experience to make decisions based on both information and intuition,a valuable resource for any company.

Decisions and Processes: Value Driven Business

Ebusiness: Electronic Business Value

Ethics and Information Security: Mis Business Concerns

Infrastructures: Sustainable Technologies

Data: Business Intelligence

Networks: Mobile Business

Enterprise Applications: Business Communications

Systems Development and Project Management: Corporate Responsibility

Hardware and Software Basics

Networks and Telecommunications

Designing Databases

Filters

Exam 1: Management Information Systems: Business Driven MIS

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

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

Businesses rarely need to update business strategies as the business environment remains relatively stable.

What is the rate at which goods and services are produced based upon total output given total inputs?

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

Which of the following is considered a service?

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

A standardized set of activities that accomplish a specific task is called a supply chain component.

The chief knowledge officer is responsible for collecting,maintaining,and distributing company knowledge.

How are the majority of companies today typically organized?

Buyer power is included as one of Porter's three generic strategies.

Apple utilized the first-mover ________ with its iPod product.

Cars,groceries,and clothing are all examples of goods.

The department within a company that performs the function of selling goods or services is called _______________:

Which of the below is the key term that defines the confirmation or validation of an event or object?

What is the support value activity that provides employees with training,hiring,and compensation?

Today's workers are referred to as _______________ and they use BI along with personal experience to make decisions based on both information and intuition,a valuable resource for any company.

Decisions and Processes: Value Driven Business

Ebusiness: Electronic Business Value

Ethics and Information Security: Mis Business Concerns

Infrastructures: Sustainable Technologies

Data: Business Intelligence

Networks: Mobile Business

Enterprise Applications: Business Communications

Systems Development and Project Management: Corporate Responsibility

Hardware and Software Basics

Networks and Telecommunications

Designing Databases

Filters