Question 1

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.

Question 2

What is a standardized set of activities that accomplishes a specific task?

Accepted Answer

A) Business strategy. 
B) Business outcome. 
C) Business process. 
D) Knowledge process.

Question 3

What is information collected from multiple sources such as suppliers, customers, competitors, partners, and industries that analyzes patterns, trends, and relationships for strategic decision making?

Accepted Answer

A) Supplier's intelligence. 
B) Social intelligence. 
C) Employee intelligence. 
D) Business intelligence.

Question 4

Zappos is not a technology company; its primary business focus is to sell books.

Accepted Answer

A) True 
 B)False

Question 5

Mark Peterson identified the Porter's Five Forces Model which analyzes the competitive forces within a business environment.

Accepted Answer

A) True 
 B)False

Question 6

In terms of system thinking, what is feedback?

Accepted Answer

A) Data entered in a computer 
B) Controls to ensure correct processes 
C) The resulting information from the computer program 
D) The computer program that processes the data

Question 7

Unstructured data is data that has a defined length, type, and format and includes numbers, dates, or strings such as Customer Address.

Accepted Answer

A) True 
 B)False

Question 8

Which of the following are included as potential external opportunities in a SWOT analysis that are helpful to an organization?

Accepted Answer

A) Core competencies, market leaders, cost advantages, excellent management. 
B) Lack of strategic direction, obsolete technologies, lack of managerial talent, outdated, product line. 
C) Expanded product line, increase in demand, new markets, new regulations. 
D) New entrants, substitute products, shrinking markets, costly regulatory, requirements.

Question 9

What are tasks performed by people that customers will buy to satisfy a want or need?

Accepted Answer

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

Question 10

Descriptive analytics use techniques that describe past performance and history.

Accepted Answer

A) True 
 B)False

Question 11

Firm infrastructure and human resource management are part of the primary value activities.

Accepted Answer

A) True 
 B)False

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.

Question 13

Bread, cheese, and butter are included in the process of making a grilled cheese sandwich.

Accepted Answer

A) True 
 B)False

Question 14

A SWOT analysis evaluates an organization's strengths, weaknesses, opportunities, and threats to identify significant influences that work for or against business strategies.

Accepted Answer

A) True 
 B)False

Question 15

The Internet of Things (IoT)is a world where interconnected, Internet-enabled devices or "things" can collect and share data without human intervention.

Accepted Answer

A) True 
 B)False

Question 16

Information is data converted into useful, meaningful context. What are data characteristics that change or vary over time?

Accepted Answer

A) Facts. 
B) Variables. 
C) Supplies. 
D) Services.

Question 17

Where would you categorize threats in a SWOT analysis?

Accepted Answer

A) Internal, helpful 
B) Internal, harmful 
C) External, helpful 
D) External, harmful

Question 18

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

Accepted Answer

A) True 
 B)False

Question 19

What is buyer power?

Accepted Answer

A) The ability of buyers to affect the price they must pay for an item. 
B) The suppliers' ability to influence the prices they charge for supplies (including materials, labor, and services). 
C) High when it is easy for new competitors to enter a market and low when there are significant entry barriers to joining a market. 
D) High when there are many alternatives to a product or service and low when there are few alternatives from which to choose.

Question 20

The business decisions made by the human resources department include employee data, promotion data, and vacation data.

Accepted Answer

A) True 
 B)False

Exam 1: Management Information Systems: Business Driven MIS

What is a standardized set of activities that accomplishes a specific task?

What is information collected from multiple sources such as suppliers, customers, competitors, partners, and industries that analyzes patterns, trends, and relationships for strategic decision making?

Zappos is not a technology company; its primary business focus is to sell books.

Mark Peterson identified the Porter's Five Forces Model which analyzes the competitive forces within a business environment.

In terms of system thinking, what is feedback?

Unstructured data is data that has a defined length, type, and format and includes numbers, dates, or strings such as Customer Address.

Which of the following are included as potential external opportunities in a SWOT analysis that are helpful to an organization?

What are tasks performed by people that customers will buy to satisfy a want or need?

Descriptive analytics use techniques that describe past performance and history.

Firm infrastructure and human resource management are part of the primary value activities.

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

Bread, cheese, and butter are included in the process of making a grilled cheese sandwich.

A SWOT analysis evaluates an organization's strengths, weaknesses, opportunities, and threats to identify significant influences that work for or against business strategies.

The Internet of Things (IoT)is a world where interconnected, Internet-enabled devices or "things" can collect and share data without human intervention.

Information is data converted into useful, meaningful context. What are data characteristics that change or vary over time?

Where would you categorize threats in a SWOT analysis?

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

What is buyer power?

The business decisions made by the human resources department include employee data, promotion data, and vacation data.