Exam 1: The Information Age in Which You Live: Changing the Face of Business

Companies like Amazon and eBay that only have a presence in the virtual world have significantly lower fixed costs in terms of retail space than companies that have to pay for retail space,like retail stores you would find in a mall.This technological concept is known as:

The concept of garbage-in-garbage-out (GIGO)relates to which information quality attribute?

Buyer power in the Five Forces Model is low when buyers have many choices from whom to buy.

If the marketing department were to pass information to the finance department,what type of information flow is this considered?

Copying software so that your neighbor can install it on his/her machine is completely legal and ethical,unless you charge a fee for the software.

The horizontal flow of information consists of information that is communicated to customers,suppliers,distributors,and other partners for the purpose of doing business.

At upper organizational levels,information exhibits fine granularity because people need to work with information in great detail.

A(n)_____ is providing a product or service in a way that customers value more than what your competition is able to do.

Software such as Microsoft Word,Excel,PowerPoint,or Access are examples of utility software.

What category of hardware technology does a speaker fall into?

At upper organizational levels,information exhibits _____ granularity.

A statement that the average daily wage of all the construction workers in New York is $350 is an example of information.

Output devices include such tools as printer,monitor,and speakers.

_____ is an approach in which you allocate in terms of percentages how you will spend your IT dollars on various types of business strategies.

As with the other generic strategies defined by Porter,_____ cannot be practiced in isolation.

At lower organizational levels,information exhibits _____ granularity.

Buyer power is _____ when buyers have many choices from whom to buy,and _____ when their choices are few.

_____ enables you to solve specific problems and perform specific tasks.

Which of the following is an IT-enabled variable cost reduction initiative?

VoIP allows you to use the Internet for making phone calls instead of leasing traditional telephone lines from the phone company.