Deck 1: Doing Business in Digital Times

Question 1

Amazon Elastic Compute Cloud,known as EC2,eliminates the need to invest in hardware up front,so companies can develop and deploy applications faster.EC2 reduces the time it takes to acquire server space from ________.

A)weeks to minutes
B)weeks to days
C)months to weeks
D)months to days

Answer 1

A

Question 2

Zipcar has pioneered the car rental by the hour business model.What technology enables Zipcar to lease cars for short time spans to registered members?

A)Social networks
B)Mobiles
C)Sensors
D)Wearables

Answer 2

C

Question 3

Machine-to-machine (M2M)technology enables sensor-embedded products to share reliable real-time data ________.

A)over short distances
B)via radio signals
C)using cloud services
D)via databases

Answer 3

B

Question 4

An estimated ________ % of big data are unstructured.

A)25
B)33
C)50
D)80

Question 5

Which if the following is not an example of the Internet of Things is being used by businesses?

A)A network of ground sensors that allow agricultural operations to adjust the amount of fertilizer and water applied to specific field locations.
B)Sensors in shoppers club cards that make it possible for retailers to offer discounts or promotions to consumers at the point of sale.
C)Sensors in rental cars that allow companies to base rates on the driving behavior of their customers
D)Sensors on packages of cereal,pasta,soup or other food products made for children that allow companies to determine young consumer's satisfaction with the nutritional value of the product.

Question 6

Forrester research repeatedly confirms there is a strong relationship between the quality of a firm's ________,which in turn increases revenue.

A)Mobile apps and business transactions
B)IoT capabilities and KPIs
C)Business model and marketing efforts
D)Customer experience and loyalty

Question 7

All of the following are examples of the influence of social,mobile,and cloud technologies except ________.

A)Connections and feedback via social networks have changed the balance of influence.
B)Customers expect to use location-aware services,apps,alerts,social networks,and the latest digital capabilities at work and outside work.
C)Customer loyalty and revenue growth depend on a business' ability to offer unique customer experiences that wow customers more than competitors can.
D)Consumers are less likely to trust tweets from ordinary people than recommendations made by celebrity endorsements.

Question 8

A top concern of well-established corporations,global financial institutions,born-on-the-Web retailers,and government agencies is how to design their digital business models in order to do all of the following,except:

A)Deliver an incredible customer experience
B)Improve profitability
C)Implement cloud computing
D)Increase market share

Question 9

What are the basic components of business processes?

A)Inputs and outputs
B)Data,knowledge,and activities
C)People,technology,and outputs
D)Inputs,activities,and deliverables

Question 10

Which of the following is not a goal of business process reengineering?

A)eliminate unnecessary or non-value-added processes
B)simplify and automate remaining processes
C)reduce cycle time,labor,and costs
D)increase innovation

Question 11

Food manufacturers must be able to trace all ingredients ________ in case of contamination or recall.

A)Along their supply chain
B)In processed products they sell
C)Imported from outside North America
D)In perishable food they export

Question 12

Examples of _____________ that can be facilitated by digital technologies are credit approval,opening a new account,order fulfillment,and shipping a product.

A)Strategic activities
B)Business processes
C)Planning activities
D)Competitive advantages

Question 13

________ are data visualizations that display the current status of key performance indicators in easy-to-understand formats:

A)Predictions
B)Dashboards
C)Digital models
D)Real-time reports

Question 14

AutoTrader redesigned its legacy order fulfillment process in order ________

A)To process hundreds of orders and contracts each month
B)To document how tasks were performed
C)To reduce cycle time
D)To move processing to the cloud

Question 15

Applying IT to a manual or outdated process will _________:

A)Minimize cycle time
B)Not optimize the process
C)Eliminate wasted steps
D)Improve the outputs

Question 16

All functions and departments in the enterprise have tasks that they need to complete to produce outputs or ________ in order to meet their ________.

A)deliverables;objectives
B)business processes;budgets
C)milestones;deliverables
D)processes;business model

Question 17

Routine formal processes are referred to as ________.

A)cross-functional processes
B)standard operating procedures
C)business tasks
D)standardized transactions

Question 18

Enterprises can acquire the latest business apps and digital services as they are needed and without large upfront investments by switching from owning IT resources to ________.

A)cloud computing
B)private data centers
C)data synchronization
D)machine-to-machine technology

Question 19

The field of ________ involves managing and analyzing massive sets of data for purposes such as target marketing,trend analysis,and the creation of individually tailored products and services.

A)Data science
B)Cloud computing
C)Machine-to-machine technology
D)Business models

Question 20

The goal of _________ is to eliminate unnecessary non-value added processes,then to simplify and automate the remaining processes to reduce cycle time,labor,and costs.

A)Strategic planning
B)Business process reengineering
C)Real-time information systems
D)Business Intelligence

Question 21

According to the Five Forces Model developed by Harvard University Business professor Michael Porter,all of the following are major factors that determine a company's standing in an industry,except:

A)Competitive rivalry among firms existing in the industry
B)Bargaining power of suppliers
C)Bargaining power of customers or buyers
D)Technological (IT)superiority

Question 22

IT agility,flexibility,and mobility are tightly interrelated and primarily dependent on:

A)An organization's IT infrastructure and architecture
B)The IT division's strategic hiring and training practices
C)IT's integration with production and accounting units
D)Strategic alignment between IT budget and company mission statement

Question 23

IT functions that do not provide a competitive advantage,such as computers,databases,and network services are examples of ___________.

A)commodities
B)specialties
C)niche functions
D)apps

Question 24

According to the business strategy model developed by Harvard University Business professor Michael Porter's,an industry's profit potential is largely determined by _____________.

A)The intensity of competitive forces within the industry
B)Availability of necessary resources to produce the product/service
C)Technological proficiency of companies in the industry
D)Availability of skilled and unskilled labor

Question 25

________ is the scanning and review of the political,social,economic,and technical environments of an organization.

A)Business Intelligence
B)Strategy
C)SWOT
D)Strategic analysis

Question 26

Using a combination of mobile and database technology,Pizza House keeps records of the pizza preferences of all its customers.When Sam orders from Pizza House,he only says "send me the usual" when he calls in his order;and hangs up.Accessing the database,the Pizza House worker knows his address,his usual order,and what credit card to bill.The streamlined ordering and fulfillment efficiency give the Pizza House __________.

A)A strategic plan
B)A strategic model
C)A competitive advantage
D)A sustainably business edge

Question 27

Price wars or other fierce reactions by competitors are examples of:

A)Strengths
B)Weaknesses
C)Opportunities
D)Threats

Question 28

Primary activities are those business activities through which a company produces goods,thus creating value for which customers are willing to pay.They include all of the following except:

A)Inbound logistics,or acquiring and receiving of raw materials and other inputs
B)Human Resources,including hiring,compensation and negotiating labor disputes
C)Outbound logistics,which includes packaging,storage,delivery,and distribution
D)Marketing and sales to customers

Question 29

________ is the migration of privately-owned mobile devices into enterprise IT environments.

A)agility
B)flexibility
C)responsiveness
D)IT consumerization

Question 30

________ means having the ability to quickly integrate new business functions or to easily reconfigure software or apps.

A)agility
B)flexibility
C)responsive
D)IT consumerization

Question 31

BPR is part of the larger discipline of ________,which consists of methods,tools,and technology to support and continuously improve business processes.

A)business process management
B)cycle time reduction
C)business model optimization
D)standard operating procedures

Question 32

The __________ process is designed to provide answers to the following types of questions: -What is the long-term direction of our business?
-What is the overall plan for deploying our resources?
-How do we achieve competitive advantage over rivals in order to achieve or maximize profitability?

A)Enterprise resource planning
B)Profit margin analysis
C)Strategic planning
D)Market research

Question 33

Two key components of corporate profitability are _________ and _________.

A)SWOT;strategic planning
B)Employee performance;technology
C)Industry structure;competitive advantage
D)Agility;commodities

Question 34

Harvard University Business professor Michael Porter proposed that companies could follow one of three different competitive strategies.Which of the following is not one of Porter's recommended strategies?

A)Low price strategy
B)Cost leadership strategy
C)Differentiation strategy
D)Niche strategies

Question 35

SWOT Analysis involves analyzing a company's competitive situation on each of the following factors except:

A)Strengths
B)Weakness
C)Opportunities
D)Technology

Question 36

According to the Five Forces Model developed by Harvard University Business professor Michael Porter,all of the following are major factors that determine a company's standing in an industry,except:

A)Threat of entry of new competitors
B)Political and/or economic factors
C)Bargaining power of suppliers
D)Threat of substitute products/services

Question 37

Matt is using his own tablet for work purposes,which is an example of a trend called _____________.

A)Mixed use IT
B)Employer IT cost shifting
C)IT consumerization
D)BYOM

Question 38

In order to be successful,BPM requires all of the following except ________.

A)buy-in from a broad cross section of the business
B)software to map processes that are performed manually
C)the right technology
D)highly effective change management processes

Question 39

________ means being able to respond quickly in order to take advantage of opportunities faster or better than competitors.

A)agility
B)flexibility
C)responsive
D)IT consumerization

Question 40

________ means that IT capacity can be easily scaled up or down as needed,which essentially requires cloud computing.

A)agility
B)flexibility
C)responsiveness
D)IT consumerization

Question 41

More data are collected in one day now than existed in the world 10 years ago.

Question 42

Digital business models refer to a set of capabilities enabled when physical things are connected to the Internet via sensors.

Question 43

Big data tend to be unstructured and less time-sensitive than traditional (or small)data.

Question 44

IoT combined with big data analytics can help manufacturers improve the efficiency of their machinery and minimize energy consumption,which often is the manufacturing industry's second-biggest expense.

Question 45

By adding bar codes to trucks,utility meters,heart monitors,vending machines,and other equipment they sell,companies can track and manage their products remotely.

Question 46

Dropbox,Gmail,and Google Drive are examples of the Internet of Things.

Question 47

Dashboards are data visualizations that display the current status of KPIs in easy-to-understand formats

Question 48

Enterprises use real-time data from tweets and sensors to gain insight into their customers' interests and preference.

Question 49

_____________ evaluate the newest and most innovative technologies and determine how they can be applied for competitive advantage.They develop technical standards,deploy technology,and supervise workers who deal with the daily IT issues of the firm.

A)Project Managers
B)Chief Technology Officers
C)CEOs
D)CFOs

Question 50

iTunes was a significant breakthrough that forever changed the music industry and the first representation of Apple's ________.

A)IT consumerization
B)Sustainable competitive advantage
C)Incompatibility with Windows
D)future outside its traditional computing product line

Question 51

Big data are what high-volume,mostly text data are called.

Question 52

Cloud computing,for example,Amazon Elastic Compute Cloud,known as EC2,eliminates the need to invest in hardware up front,so companies can develop and deploy applications faster.

Question 53

Machine-to-machine (M2M)technology enables sensor-embedded products to share reliable real-time data via satellite or optics.

Question 54

IT job growth is estimated at ________ by 2018,according to the U.S.Department of Labor;and salaries in many IT jobs will increase by up to 6%.

A)10%
B)25%
C)33%
D)Over 50%

Question 55

Customer experience is about building the digital infrastructure that allows customers to do whatever they want to do,through whatever channels they choose to do it.

Question 56

Data visualization refers to the use of statistics to find meaningful insight in the data,or better understand the data.

Question 57

Big data analytics has increased the demand for data scientists.

Question 58

Which of the following is not one of the IT directions or trends for the late 2010s?

A)Financial industry faces less regulation of communicating with customers via social media
B)Transition away from the traditional desktop and documents era and toward business apps in the cloud
C)Customers who are more socially engaged and intolerant of delays
D)More NFC applications in products and services

Question 59

Machine-generated data and social media texts are examples of big data.

Question 60

Dashboards provide static summary charts,that when clicked,drill down to the detailed data.

Question 61

An effective informal business process documents who will perform the tasks;what materials to use;and where,how,and when the tasks are to be performed.

Question 62

Methods and efforts to simply automate existing processes are referred to a business process reengineering,or BPR.

Question 63

Having a competitive edge means possessing an advantage over your competition.

Question 64

Cloud computing can often make it difficult to deploy tools that can scale on demand to serve a growing number of users.

Question 65

Computers,databases,and network services are examples of commodities that do not provide a competitive edge.

Question 66

From an IT perspective,the mobile devices form the core;the cloud forms the endpoints;and social networks create the connections between the cloud and mobiles.

Question 67

Industries that have large profit margins deter entrants into the market to a greater degree than industries with small margins.

Question 68

IT creates barriers to entry that help reduce the threat of entry.

Question 69

In the simplest terms,a process consists of activities that convert inputs into outputs by doing work.

Question 70

At LinkedIn,data analytics lead to a significant increase in the number of connections members created with other members.

Question 71

Informal processes are needed for the situations involving safety,security,or compliance.

Question 72

When managers perform SWOT analysis,the outcomes are objective,forward-looking,and based on consistent views.

Question 73

SWOT analysis involves the evaluation of industry strengths and weaknesses and also opportunities and threats,which are internal factors.

Question 74

Because a company's success depends on the efficiency of its business processes,even small improvements in key processes can have a significant payoff.

Question 75

Michael Porter's competitive forces model,also called the five-forces model,has been used to identify competitive strategies.

Question 76

Designing an effective process can be complex because you need a deep understanding of the inputs and outputs,how things can go wrong,and how to prevent things from going wrong.

Question 77

Elapsed time is the time required to complete a given process.

Question 78

Mass migration to mobile devices from PCs has expanded the scope of IT beyond traditional organizational boundaries-making location practically irrelevant.

Question 79

The research firm Gartner defines industry structure as the difference between a company and its competitors that matters to customers.

Question 80

Looking at Apple's history,you see innovative products and services that shaped the future.