Question 1

What are costs that make customers reluctant to switch to another product or service?

Accepted Answer

A)  Support activities. 
B)  Switching costs. 
C)  Loyalty rewards. 
D)  Value chain activities. 
A)  Support activities. 
B)  Switching costs. 
C)  Loyalty rewards. 
D)  Value chain activities.

Question 2

Product differentiation occurs when a company develops unique differences in its products or services with the intent to influence demand.

Accepted Answer

A) True 
 B)False

Question 3

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

Accepted Answer

A) True 
 B)False

Question 4

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?

Accepted Answer

A)  Who are my best customers? 
B)  What is my best-selling product? 
C)  What is my worst-selling product? 
D)  All the answers are correct 
A)  Who are my best customers? 
B)  What is my best-selling product? 
C)  What is my worst-selling product? 
D)  All the answers are correct

Question 5

When reviewing Porter's value chain analysis,which of the below provides customer support after the sale of goods and services?

Accepted Answer

A)  Inbound logistics. 
B)  Outbound logistics. 
C)  Operations. 
D)  Service. 
A)  Inbound logistics. 
B)  Outbound logistics. 
C)  Operations. 
D)  Service.

Question 6

Describe the information age and the differences between data,information,business intelligence and knowledge.

Accepted Answer

The answer of Describe the information age and the differences...

Question 7

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 8

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

Accepted Answer

A)  Acquiring the new technology. 
B)  Copying the business operations. 
C)  Hiring away key employees. 
D)  Carrying large product inventories. 
A)  Acquiring the new technology. 
B)  Copying the business operations. 
C)  Hiring away key employees. 
D)  Carrying large product inventories.

Question 9

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?

Accepted Answer

A)  Supplier power. 
B)  Buyer power. 
C)  Threat of false entrants. 
D)  Business power. 
A)  Supplier power. 
B)  Buyer power. 
C)  Threat of false entrants. 
D)  Business power.

Question 10

The Victory Wireless store in Denver is currently offering a fabulous marketing strategy for potential new iPhone customers.Victory Wireless offers customers who purchase an iPhone with a two-year subscription a free Otter phone case,car charger,ear phones and speakers.In terms of Porter's five forces,what is Victory Wireless attempting to achieve with this marketing strategy?

Accepted Answer

A)  Increase buyer power. 
B)  Increase substitute products. 
C)  Decrease supplier power. 
D)  Decrease buyer power. 
A)  Increase buyer power. 
B)  Increase substitute products. 
C)  Decrease supplier power. 
D)  Decrease buyer power.

Question 11

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

Accepted Answer

A) True 
 B)False

Question 12

Explain systems thinking and how management information systems (MIS)enable business communications.

Accepted Answer

The answer of Explain systems thinking and how management information...

Question 13

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?

Accepted Answer

A)  Broad market,low cost. 
B)  Narrow market,high cost. 
C)  Broad market,high cost. 
D)  Narrow market,low cost. 
A)  Broad market,low cost. 
B)  Narrow market,high cost. 
C)  Broad market,high cost. 
D)  Narrow market,low cost.

Question 14

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).

Accepted Answer

A) True 
 B)False

Question 15

Which of the following is considered information?

Accepted Answer

A)  Quantity sold 
B)  Date sold 
C)  Best selling item by month 
D)  All the answers are correct 
A)  Quantity sold 
B)  Date sold 
C)  Best selling item by month 
D)  All the answers are correct

Question 16

Describe Porter's Five Forces Model and explain each of the five forces.

Accepted Answer

The answer of Describe Porter's Five Forces Model and explain...

Question 17

Which of the following is considered data?

Accepted Answer

A)  Quantity sold 
B)  Best customer by month 
C)  Best-selling item by month 
D)  Worst-selling item by month 
A)  Quantity sold 
B)  Best customer by month 
C)  Best-selling item by month 
D)  Worst-selling item by month

Question 18

Steve Jobs and Apple created a big advantage in the technology industry with the introduction of the iPod,iPhone and iPad.What are these all examples of?

Accepted Answer

A)  Competitive advantage 
B)  Competitive intelligence 
C)  First-mover advantage 
D)  All the answers are correct 
A)  Competitive advantage 
B)  Competitive intelligence 
C)  First-mover advantage 
D)  All the answers are correct

Question 19

Which role within a company is responsible for overseeing all uses of MIS and ensuring that MIS strategically aligns with business goals and objectives?

Accepted Answer

A)  Chief knowledge officer (CKO). 
B)  Chief privacy officer (CPO). 
C)  Chief information officer (CIO). 
D)  Chief security officer (CSO). 
A)  Chief knowledge officer (CKO). 
B)  Chief privacy officer (CPO). 
C)  Chief information officer (CIO). 
D)  Chief security officer (CSO).

Question 20

Porter's Five Forces Model outlines the process for a sales strategy.

Accepted Answer

A) True 
 B)False

What are costs that make customers reluctant to switch to another product or service?

Product differentiation occurs when a company develops unique differences in its products or services with the intent to influence demand.

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?

When reviewing Porter's value chain analysis,which of the below provides customer support after the sale of goods and services?

Describe the information age and the differences between data,information,business intelligence and knowledge.

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

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

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

Explain systems thinking and how management information systems (MIS)enable business communications.

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).

Which of the following is considered information?

Describe Porter's Five Forces Model and explain each of the five forces.

Which of the following is considered data?

Steve Jobs and Apple created a big advantage in the technology industry with the introduction of the iPod,iPhone and iPad.What are these all examples of?

Which role within a company is responsible for overseeing all uses of MIS and ensuring that MIS strategically aligns with business goals and objectives?

Porter's Five Forces Model outlines the process for a sales strategy.

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

What are costs that make customers reluctant to switch to another product or service?

Product differentiation occurs when a company develops unique differences in its products or services with the intent to influence demand.

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?

When reviewing Porter's value chain analysis,which of the below provides customer support after the sale of goods and services?

Describe the information age and the differences between data,information,business intelligence and knowledge.

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

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

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

Explain systems thinking and how management information systems (MIS)enable business communications.

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).

Which of the following is considered information?

Describe Porter's Five Forces Model and explain each of the five forces.

Which of the following is considered data?

Steve Jobs and Apple created a big advantage in the technology industry with the introduction of the iPod,iPhone and iPad.What are these all examples of?

Which role within a company is responsible for overseeing all uses of MIS and ensuring that MIS strategically aligns with business goals and objectives?

Porter's Five Forces Model outlines the process for a sales strategy.

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