Question 1

What is the difference between information and business intelligence (BI)?

Accepted Answer

A)   Information is about a specific situation; business intelligence is about internal and external conditions and how they will affect strategy
B)   Information is based upon facts or objective data; business intelligence is based on perceptions
C)   Information leads to strategic thinking; business intelligence leads to tactical thinking
D)   Information is based on processed knowledge; business intelligence is based on processed information A

Question 2

Both Dell and Wal-Mart focus on a(n) _____ strategy in order to maintain their competitive advantage.

Accepted Answer

overall cost leadership

Question 3

Apply Computer focuses on _____ as a business strategy.

Accepted Answer

differentiation

Question 4

A bottom-line strategy is similar to Porter's strategy of overall cost leadership.

Accepted Answer

A) True 
 B)False

Question 5

Differentiation is defined by Porter as offering a product or service that is perceived as being "unique" in the marketplace.

Accepted Answer

A) True 
 B)False

Question 6

Information granularity refers to the extent of detail within the information.

Accepted Answer

A) True 
 B)False

Question 7

What is business intelligence or BI?

Accepted Answer

A)   Interrelated and stored data about a person, object, or event
B)   Collective information about a business' customers, competitors, partners, environment, and operations
C)   An enterprise-wide set of common and interrelated data
D)   Data that has a particular meaning with a specific context

Question 8

GM and Chevrolet are focusing on differentiation in their quest to position themselves as the ultimate green vehicle manufacturer.

Accepted Answer

A) True 
 B)False

Question 9

What does it mean to live in the "digital age"?

Accepted Answer

A)   Payment for goods is made with hard cash
B)   Living, working, learning, and playing in a digital world
C)   Accessing information over the Internet
D)   Being born after 1990

Question 10

When applying Porter's Five Forces Model you should first analyze the competition that affects or may affect your business.

Accepted Answer

A) True 
 B)False

Question 11

A(n) _____ is a tool you use to send information to and receive it from another person or computer in a network.

Accepted Answer

The answer of A(n) _____ is a tool you use...

Question 12

If you were to focus on developing management information systems that allowed you to reduce the number of employees in the company and, therefore, reduce the price of products offered to the customer, you would be utilizing a _____ strategy.

Accepted Answer

A)   Focused
B)   Bottom-line
C)   Top-line
D)   Cutting-edge

Question 13

Garbage-in-garbage-out is related to which quality attribute?

Accepted Answer

A)   Timeliness
B)   Location
C)   Form
D)   Authority

Question 14

Using the RGT framework, which of the following strategies applies to a business that increases their customer base by taking it from the competition?

Accepted Answer

A)   Grow
B)   Grab
C)   Transcend
D)   Transform

Question 15

What is a loyalty program?

Accepted Answer

A)   A program that rewards suppliers when delivery of products and services exceeds expectations
B)   An analysis of customers and their recurring purchasing habits with your business
C)   A reward system for customers based on the amount of business they do with your business
D)   A process of moving into a new market for a particular product or service

Question 16

Which question does not support a business' efforts to support and maintain a competitive edge?

Accepted Answer

A)   Can this technology lower the cost of operating our business?
B)   Can this technology increase our customer base?
C)   Can this technology make the company look better?
D)   Can this technology enhance our innovative efforts?

Question 17

Which of the following is more subjective and open to cultural interpretations?

Accepted Answer

A)   Laws
B)   Regulations
C)   Ethics
D)   Organizational rules

Question 18

Which of the following processes considers raw materials when evaluating the value chain?

Accepted Answer

A)   Support value processes
B)   Bottom value processes
C)   Primary value processes
D)   Inbound value processes

Question 19

Businesses typically act as both buyers and suppliers. Which of the following is true regarding the goal of your company as a buyer and as a supplier?

Accepted Answer

A)   You want to decrease your buyer power and supplier power
B)   You want to decrease your buyer power and increase your supplier power
C)   You want to increase your buyer power and decrease your supplier power
D)   You want to increase your buyer power and increase your supplier power

Question 20

What is software?

Accepted Answer

A)   The physical devices and the set of instructions that your computer executes
B)   The set of instructions that you hardware executes to carry out specific tasks
C)   The standards followed by the computer industry to ensure that your physical devices can communicate with each other
D)   The programming language used by your computer system

Exam 1: The Information Age in Which You Live

What is the difference between information and business intelligence (BI) ?

Both Dell and Wal-Mart focus on a(n) _____ strategy in order to maintain their competitive advantage.

Apply Computer focuses on _____ as a business strategy.

A bottom-line strategy is similar to Porter's strategy of overall cost leadership.

Differentiation is defined by Porter as offering a product or service that is perceived as being "unique" in the marketplace.

Information granularity refers to the extent of detail within the information.

What is business intelligence or BI?

GM and Chevrolet are focusing on differentiation in their quest to position themselves as the ultimate green vehicle manufacturer.

What does it mean to live in the "digital age"?

When applying Porter's Five Forces Model you should first analyze the competition that affects or may affect your business.

A(n) _____ is a tool you use to send information to and receive it from another person or computer in a network.

If you were to focus on developing management information systems that allowed you to reduce the number of employees in the company and, therefore, reduce the price of products offered to the customer, you would be utilizing a _____ strategy.

Garbage-in-garbage-out is related to which quality attribute?

Using the RGT framework, which of the following strategies applies to a business that increases their customer base by taking it from the competition?

What is a loyalty program?

Which question does not support a business' efforts to support and maintain a competitive edge?

Which of the following is more subjective and open to cultural interpretations?

Which of the following processes considers raw materials when evaluating the value chain?

Businesses typically act as both buyers and suppliers. Which of the following is true regarding the goal of your company as a buyer and as a supplier?

What is software?