Question 1

Buyer power is the ability of buyers to affect the price they must pay for an item.

Accepted Answer

A) True 
 B)False

Question 2

With the Five Forces Model, companies should watch the forces in the market.If the forces are strong, competition generally increases, and if the forces are weak, competition typically decreases.

Accepted Answer

A) True 
 B)False

Question 3

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

Accepted Answer

A) feedback thinking 
B) systems thinking 
C) output management 
D) operational thinking

Question 4

What is threat of substitute products or services?

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 5

The goal of value chain analysis is to identify processes in which the firm can add value for the customer and create a competitive advantage for itself, with a ________ or ________.

Accepted Answer

A) focused strategy; product differentiation 
B) focused strategy; cost advantage 
C) cost advantage; primary value activities 
D) cost advantage; product differentiation

Question 6

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)

Question 7

Which activities belong in the accounting department?

Accepted Answer

A) records, measures, and reports monetary transactions 
B) tracks strategic financial issues, including money, banking, credit, investments, and assets 
C) supports sales by planning, pricing, and promoting goods or services is marketing 
D) relies on information from operations to understand inventory, place orders, and forecast consumer demand

Question 8

Porter identified three generic strategies that a business could follow after identifying a market it wanted to enter.Which of the following is not included as one of Porter's three generic strategies?

Accepted Answer

A) broad differentiation 
B) supplier cost differentiation 
C) focused strategy 
D) broad cost leadership

Question 9

If you were thinking about a home theater system, which of the following represents the inputs?

Accepted Answer

A) the DVD player, DVD movie, speakers, TV, and electricity 
B) playing the movie, including the audio through the speakers and the video on the TV 
C) a message stating that the disk is dirty and cannot be played 
D) spinning the disk to play, pause, rewind, or fast forward

Question 10

Identifying competitive advantages can be difficult and explains why they are typically _______.

Accepted Answer

A) temporary 
B) satisfactory 
C) terminated 
D) unsuccessful

Question 11

Which of the following statements is true?

Accepted Answer

A) MIS equals business success. 
B) MIS equals business innovation. 
C) MIS represents business success and innovation. 
D) MIS enables business success and innovation.

Question 12

Which of the following represents the types of data commonly found in the human resources department?

Accepted Answer

A) financial data 
B) technology data 
C) production data 
D) employee data

Question 13

Which of the following are included as potential internal strengths 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 14

Your boss has asked you to analyze the music industry using Porter's five forces model.Which of the following represents buyer power in the music industry?

Accepted Answer

A) established record labels like EMI, Sony, Universal 
B) Walmart, Target, iTunes 
C) independent record labels 
D) game systems like Wii, social networks like Facebook

Question 15

The lettuce, tomatoes, patty, bun, and ketchup are included in which category of making a hamburger?

Accepted Answer

A) input 
B) process 
C) output 
D) All of these are correct.

Question 16

What is Porter's Five Forces Model?

Accepted Answer

A) evaluates an organization's strengths, weaknesses, opportunities, and threats to identify significant influences that work for or against business strategies 
B) analyzes the competitive forces within the environment in which a company operates to assess the potential for profitability in an industry 
C) views a firm as a series of business processes, each of which adds value to the product or service 
D) generic business strategies that are neither organization nor industry specific and can be applied to any business, product, or service

Question 17

Which of the following is an example of 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?

Question 18

Business intelligence 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) True 
 B)False

Question 19

The business decisions made by the marketing department include promotional data, sales data, and advertising data.

Accepted Answer

A) True 
 B)False

Question 20

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

Exam 1: Management Information Systems: Business Driven MIS

Buyer power is the ability of buyers to affect the price they must pay for an item.

With the Five Forces Model, companies should watch the forces in the market.If the forces are strong, competition generally increases, and if the forces are weak, competition typically decreases.

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

What is threat of substitute products or services?

The goal of value chain analysis is to identify processes in which the firm can add value for the customer and create a competitive advantage for itself, with a or .

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

Which activities belong in the accounting department?

Porter identified three generic strategies that a business could follow after identifying a market it wanted to enter.Which of the following is not included as one of Porter's three generic strategies?

If you were thinking about a home theater system, which of the following represents the inputs?

Identifying competitive advantages can be difficult and explains why they are typically _______.

Which of the following statements is true?

Which of the following represents the types of data commonly found in the human resources department?

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

Your boss has asked you to analyze the music industry using Porter's five forces model.Which of the following represents buyer power in the music industry?

The lettuce, tomatoes, patty, bun, and ketchup are included in which category of making a hamburger?

What is Porter's Five Forces Model?

Which of the following is an example of information?

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

The business decisions made by the marketing department include promotional data, sales data, and advertising data.

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