Question 1

Explicit knowledge deals with:

Accepted Answer

A)  Data, documents, and things written down or stored on computers. 
B)  "How-to" knowledge, which resides in workers. 
C)  Using data mining techniques to capture external information. 
D)  All of the choices are correct.

Question 2

Companies like Wal-Mart use information technology to implement competitive strategies for strategic advantage.

Accepted Answer

A) True 
 B)False

Question 3

The value chain framework can be used to view a firm as a series, a chain, or a network of basic activities that add value to its products and services, and thus add a margin of value to the firm.

Accepted Answer

A) True 
 B)False

Question 4

A customer-focused business can build customer value and loyalty by:

Accepted Answer

A)  Making a loyal customer feel special with website personalization 
B)  Letting customers place orders directly, or through distribution partners 
C)  Letting customers check order history and delivery status 
D)  All of the choices are correct.

Question 5

When a firm uses IT to create virtual organizations of business partners, it is pursuing a growth strategy.

Accepted Answer

A) True 
 B)False

Question 6

_______________ knowledge is made up of data, documents, and things written down.

Accepted Answer

The answer of _______________ knowledge is made up of data,...

Question 7

Investments in information technology can allow a business to lock in customers and suppliers, and lock out competitors, by building valuable new relationships with them.

Accepted Answer

A) True 
 B)False

Question 8

Business process reengineering (BPR) combines a strategy of promoting business innovation with a strategy of making major improvements to business operations so that a company can become a much stronger and more successful competitor in the marketplace.

Accepted Answer

A) True 
 B)False

Question 9

In the Internet world, a firm's biggest competitor may be one that is not yet in the marketplace but could emerge almost overnight.

Accepted Answer

A) True 
 B)False

Question 10

All the following are competitive strategies except:

Accepted Answer

A)  New entries into the market 
B)  Innovation 
C)  Cost leadership 
D)  Alliances

Question 11

Competition is a negative characteristic in business that can require significant resources to overcome.

Accepted Answer

A) True 
 B)False

Question 12

If a company has successfully increased the amount of investment or the complexity of the technology required to compete in an industry or a market segment, it has raised _______________ that would discourage or delay other companies from entering the market.

Accepted Answer

The answer of If a company has successfully increased the...

Question 13

The goal of knowledge management systems (KMS) is to help knowledge workers _______________ important business knowledge.

Accepted Answer

A)  create 
B)  organize 
C)  distribute 
D)  All of the choices are correct.

Question 14

Companies that consistently offer the best value from the customer's perspective must provide two key services: keeping track of their individual customers' preferences and selling products or services at lowest price.

Accepted Answer

A) True 
 B)False

Question 15

When a firm makes such radical changes to its business processes for producing products and services that it alters the fundamental structure of an industry, it is pursuing an innovation strategy.

Accepted Answer

A) True 
 B)False

Question 16

Explicit knowledge involves the "how-to" knowledge that resides in workers.

Accepted Answer

A) True 
 B)False

Question 17

When a firm develops ways to differentiate its products from a competitor's, it is pursuing a cost leadership strategy.

Accepted Answer

A) True 
 B)False

Question 18

_______________ agility is the ability to accomplish speed, accuracy, and cost economy in the exploitation of innovation opportunities.

Accepted Answer

A)  Customer 
B)  Partnering 
C)  Operational 
D)  Technological

Question 19

When customers become dependent on mutually beneficial inter-enterprise information systems, they become reluctant to switch to a company's competitors because they would incur all following costs except:

Accepted Answer

A)  Time 
B)  Money 
C)  Innovation 
D)  Effort

Question 20

A(n) _______________ strategy is a competitive strategy by which a firm significantly expands its capacity to produce goods and services, expanding and diversifying in the market.

Accepted Answer

A)  alliance 
B)  growth 
C)  differentiation 
D)  innovation

Exam 2: Competing With Information Technology

Explicit knowledge deals with:

Companies like Wal-Mart use information technology to implement competitive strategies for strategic advantage.

The value chain framework can be used to view a firm as a series, a chain, or a network of basic activities that add value to its products and services, and thus add a margin of value to the firm.

A customer-focused business can build customer value and loyalty by:

When a firm uses IT to create virtual organizations of business partners, it is pursuing a growth strategy.

_______________ knowledge is made up of data, documents, and things written down.

Investments in information technology can allow a business to lock in customers and suppliers, and lock out competitors, by building valuable new relationships with them.

Business process reengineering (BPR) combines a strategy of promoting business innovation with a strategy of making major improvements to business operations so that a company can become a much stronger and more successful competitor in the marketplace.

In the Internet world, a firm's biggest competitor may be one that is not yet in the marketplace but could emerge almost overnight.

All the following are competitive strategies except:

Competition is a negative characteristic in business that can require significant resources to overcome.

If a company has successfully increased the amount of investment or the complexity of the technology required to compete in an industry or a market segment, it has raised _______________ that would discourage or delay other companies from entering the market.

The goal of knowledge management systems (KMS) is to help knowledge workers _______________ important business knowledge.

Companies that consistently offer the best value from the customer's perspective must provide two key services: keeping track of their individual customers' preferences and selling products or services at lowest price.

When a firm makes such radical changes to its business processes for producing products and services that it alters the fundamental structure of an industry, it is pursuing an innovation strategy.

Explicit knowledge involves the "how-to" knowledge that resides in workers.

When a firm develops ways to differentiate its products from a competitor's, it is pursuing a cost leadership strategy.

_______________ agility is the ability to accomplish speed, accuracy, and cost economy in the exploitation of innovation opportunities.

When customers become dependent on mutually beneficial inter-enterprise information systems, they become reluctant to switch to a company's competitors because they would incur all following costs except:

A(n) _______________ strategy is a competitive strategy by which a firm significantly expands its capacity to produce goods and services, expanding and diversifying in the market.