Question 1

Cheryl Steffan is the operations manager for Nature's Bread Company,which specialises in providing natural products for health conscious individuals.Cheryl is responsible for compiling,analysing and evaluating daily sales numbers to determine the company's profitability and forecast production for the next day.Which of the following is an example of a piece of data Cheryl would be using to successfully perform her job?

Accepted Answer

A) Craig Newmark is customer number 15467. 
B) Compare the costs of supplies including energy over the last five years to determine the best-selling product by month. 
C) Best-selling product by day. 
D) Best-selling product changes when Tony the best baker is working.

Question 2

Explain how a company can add value by using Porter's value chain analysis.

Accepted Answer

The answer of Explain how a company can add value...

Question 3

Michael Porter defined the Five Forces Model and the potential pressures that can hurt sales.Which of the following is not one of the potential pressures that can hurt sales?

Accepted Answer

A) Suppliers can drive down profits by charging more for supplies. 
B) Greater sales automation can decrease time taken to fulfil sales orders. 
C) Substitute products can steal customers. 
D) Competition can steal customers.

Question 4

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 5

Which of the following represents the definition of a variable?

Accepted Answer

A) A data characteristic that is collected through competitive intelligence and cannot change over time. 
B) A data characteristic that stands for a value that changes or varies over time. 
C) A data characteristic that stands for a value that does not change or vary over time. 
D) A data characteristic that is collected only through competitive intelligence and can change over time.

Question 6

Which of the following represents a reason why competitive advantages are typically temporary?

Accepted Answer

A) The competitor will hire away your key employees. 
B) The competitor quickly seeks ways to duplicate your business operations. 
C) The competitor will purchase new technology. 
D) All the answers are correct.

Question 7

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

Accepted Answer

A) Feedback thinking. 
B) Systems thinking. 
C) Output management. 
D) Operational thinking.

Question 8

Companies update business strategies continuously as internal and external environments change.

Accepted Answer

A) True 
 B)False

Question 9

Paula Logston is the owner and operator of a high-end online custom clothing company.Paula has never heard of Porter's Five Forces Model and she wants to understand why she would perform an analysis using it.If you were tasked with explaining Porter's Five Forces Model to Paula,what would be the primary reason she would want to use this type of analysis?

Accepted Answer

A) To help Paula choose a clothing business focus. 
B) To help Paula evaluate the attractiveness of the clothing industry. 
C) To help Paula evaluate and execute business goals. 
D) All the answers are correct.

Question 10

If a business is following a focused strategy,its competitive scope is _______.

Accepted Answer

A) Broad market 
B) Narrow market 
C) Broad range products 
D) Broad range of services

Question 11

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