Question 1

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

Accepted Answer

A) True 
 B)False  True

Question 2

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 the answers are correct. 
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 the answers are correct. B

Question 3

What is a competitive advantage?

Accepted Answer

A)  A product that an organisation's customers place a lesser value on than similar offerings from a competitor. 
B)  A feature of a product or service on which customers place a lesser value than they do on similar offerings from a supplier. 
C)  A service that an organisation's customers place a lesser value on than similar offerings from a supplier. 
D)  A feature of a product or service on which customers place a greater value than they do on similar offerings from competitors. 
A)  A product that an organisation's customers place a lesser value on than similar offerings from a competitor. 
B)  A feature of a product or service on which customers place a lesser value than they do on similar offerings from a supplier. 
C)  A service that an organisation's customers place a lesser value on than similar offerings from a supplier. 
D)  A feature of a product or service on which customers place a greater value than they do on similar offerings from competitors. D

Question 4

Jeremy Bridges is an executive for Green Web Designs,where his primary role is to ensure the security of business systems and develop strategies and safeguards to protect the company from online viruses and hackers.What is Jeremy's role within the company?

Accepted Answer

A)  Chief Executive Officer (CEO). 
B)  Chief Security Officer (CSO). 
C)  Chief Procurement Officer (CPO). 
D)  Chief Technology Officer (CTO). 
A)  Chief Executive Officer (CEO). 
B)  Chief Security Officer (CSO). 
C)  Chief Procurement Officer (CPO). 
D)  Chief Technology Officer (CTO).

Question 5

For an organisation to succeed,every department or functional area must work independently to be most effective.

Accepted Answer

A) True 
 B)False

Question 6

The information age is the present time,during which infinite quantities of facts are widely available to anyone who can use a computer.

Accepted Answer

A) True 
 B)False

Question 7

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?

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 8

Which of the following represents a reason why competitive advantages are typically temporary?

Accepted Answer

A)  The competitor will hire away your key employees. 
B)  The competitor quickly seeks ways to duplicate your business operations. 
C)  The competitor will purchase new technology. 
D)  All the answers are correct. 
A)  The competitor will hire away your key employees. 
B)  The competitor quickly seeks ways to duplicate your business operations. 
C)  The competitor will purchase new technology. 
D)  All the answers are correct.

Question 9

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

Accepted Answer

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

Question 10

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

Accepted Answer

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? 
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?

Question 11

Amazon.com uses a customer profiling system whenever a customer visits its website.Using this system,Amazon can offer products tailored to that particular customer's profile and buying pattern.What is Amazon using to achieve this competitive advantage?

Accepted Answer

A)  Rivalry. 
B)  Buyer power. 
C)  Product differentiation. 
D)  Substitute product. 
A)  Rivalry. 
B)  Buyer power. 
C)  Product differentiation. 
D)  Substitute product.

Question 12

How can a company reduce the threat of substitute products or services?

Accepted Answer

A)  Market the product to less than ten customers. 
B)  Ignore competitive forces. 
C)  Offer additional value through wider product distribution. 
D)  Offer less value making the product far more generic and similar to the competition. 
A)  Market the product to less than ten customers. 
B)  Ignore competitive forces. 
C)  Offer additional value through wider product distribution. 
D)  Offer less value making the product far more generic and similar to the competition.

Question 13

Compare Porter's three generic strategies.

Accepted Answer

The answer of Compare Porter's three generic strategies....

Question 14

Michael Porter defined the Five Forces Model and the potential pressures that can hurt sales.Which of the following is not one of the potential pressures that can hurt sales?

Accepted Answer

A)  Suppliers can drive down profits by charging more for supplies. 
B)  New market entrants can steal potential investment capital. 
C)  Substitute products can steal customers. 
D)  Competition can steal customers. 
A)  Suppliers can drive down profits by charging more for supplies. 
B)  New market entrants can steal potential investment capital. 
C)  Substitute products can steal customers. 
D)  Competition can steal customers.

Question 15

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

Accepted Answer

A)  Facts 
B)  Feedback mechanisms 
C)  Business operations 
D)  Media issues 
A)  Facts 
B)  Feedback mechanisms 
C)  Business operations 
D)  Media issues

Question 16

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

Accepted Answer

A)  The entire system 
B)  A division within the sales role 
C)  The executive team 
D)  The company's competitors 
A)  The entire system 
B)  A division within the sales role 
C)  The executive team 
D)  The company's competitors

Question 17

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

Accepted Answer

The answer of Identify the different departments in a company...

Question 18

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

Accepted Answer

A) True 
 B)False

Question 19

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

Accepted Answer

A)  Competitors' employees 
B)  Competitors' differentiated processes 
C)  Competitors' plans 
D)  All the answers are correct 
A)  Competitors' employees 
B)  Competitors' differentiated processes 
C)  Competitors' plans 
D)  All the answers are correct

Question 20

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?

Accepted Answer

A)  Suppliers. 
B)  Customers. 
C)  Competitors. 
D)  All the answers are correct. 
A)  Suppliers. 
B)  Customers. 
C)  Competitors. 
D)  All the answers are correct.

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

What is a competitive advantage?

Jeremy Bridges is an executive for Green Web Designs,where his primary role is to ensure the security of business systems and develop strategies and safeguards to protect the company from online viruses and hackers.What is Jeremy's role within the company?

For an organisation to succeed,every department or functional area must work independently to be most effective.

The information age is the present time,during which infinite quantities of facts are widely available to anyone who can use a computer.

Which of the following represents a reason why competitive advantages are typically temporary?

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

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

Amazon.com uses a customer profiling system whenever a customer visits its website.Using this system,Amazon can offer products tailored to that particular customer's profile and buying pattern.What is Amazon using to achieve this competitive advantage?

How can a company reduce the threat of substitute products or services?

Compare Porter's three generic strategies.

Michael Porter defined the Five Forces Model and the potential pressures that can hurt sales.Which of the following is not one of the potential pressures that can hurt sales?

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

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

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

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

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

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?

Connectivity

E-Business Mobile Business

Decisions-Processes

Technical Fundamentals

Systems Development Project Management

Managing Enterprise Architecture

Databases-Business Intelligence

Supply Chain Management and Customer Relationship Management

Enterprise Resource Planning Collaboration Systems

Ethics, Privacy-Information Security

Future Trends

Filters

Exam 1: Competing in the Information Age

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

What is a competitive advantage?

Jeremy Bridges is an executive for Green Web Designs,where his primary role is to ensure the security of business systems and develop strategies and safeguards to protect the company from online viruses and hackers.What is Jeremy's role within the company?

For an organisation to succeed,every department or functional area must work independently to be most effective.

The information age is the present time,during which infinite quantities of facts are widely available to anyone who can use a computer.

Which of the following represents a reason why competitive advantages are typically temporary?

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

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

Amazon.com uses a customer profiling system whenever a customer visits its website.Using this system,Amazon can offer products tailored to that particular customer's profile and buying pattern.What is Amazon using to achieve this competitive advantage?

How can a company reduce the threat of substitute products or services?

Compare Porter's three generic strategies.

Michael Porter defined the Five Forces Model and the potential pressures that can hurt sales.Which of the following is not one of the potential pressures that can hurt sales?

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

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

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

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

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

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?

Connectivity

E-Business Mobile Business

Decisions-Processes

Technical Fundamentals

Systems Development Project Management

Managing Enterprise Architecture

Databases-Business Intelligence

Supply Chain Management and Customer Relationship Management

Enterprise Resource Planning Collaboration Systems

Ethics, Privacy-Information Security

Future Trends

Filters