Deck 1: Management Information Systems: Business Driven MIS

Question 1

The accounting and finance departments primarily use monetary data.

Answer 1

True
Explanation: The accounting and finance departments primarily use monetary data.

Question 2

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

Answer 2

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

Question 3

Order date,amount sold,and customer number are all forms of data.

Answer 3

True
Explanation: Order date,amount sold,and customer number are all forms of data.

Question 4

A fact is the confirmation or validation of an event or object.In the past,people primarily learned facts from books.

Question 5

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

Question 6

The marketing department supports sales by planning,pricing,and promoting goods or services.

Question 7

Top managers use social intelligence to define the future of the business,analyzing markets,industries and economies to determine the strategic direction the company must follow to remain unprofitable.

Question 8

Information is data converted into a meaningful and useful context.The truth about information is that its value is only as good as the people who use it.People using the same information can make different decisions depending on how they interpret or analyze the information.

Question 9

For an organization to succeed,every department or functional area must work independently to be most effective.

Question 10

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

Question 11

The finance department performs the function of selling goods or services.

Question 12

Using data and information to make decisions and solve problems is the key to finding success in business.These are also the core drivers of the information age and the building blocks of business systems.

Question 13

Knowledge workers are individuals valued for their ability to manage teams and implement critical human resource rules and regulations.

Question 14

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

Question 15

The sales and marketing departments primarily use production data.

Question 16

Technology provides countless business opportunities,but can also lead to pitfalls and traps for a business.

Question 17

Choosing not to fire a sales representative who is underperforming knowing that person is experiencing family problems is a form of knowledge.

Question 18

The operations management department manages the process of converting or transforming resources into goods or services.

Question 19

A variable is a business intelligence characteristic that stands for a value that cannot change over time.

Question 20

Competitive 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.

Question 21

Goods are material items or products that customer's will buy to satisfy a want or need.

Question 22

Production is the process where a business takes raw materials and processes them or converts them into a finished product for its goods or services.

Question 23

If a business could produce more hamburgers with the same inputs it would see a rise in productivity and possibly an increase in profits.

Question 24

Productivity is the rate at which goods and services are produced based upon total output given total inputs.

Question 25

The chief knowledge officer is responsible for overseeing all uses of MIS and ensuring that MIS strategically aligns with business goals and objectives.

Question 26

Lettuce,tomatoes,patty,bun,and ketchup are included in the process of making a hamburger.

Question 27

Successful companies today operate cross-functionally,integrating the operations of all departments.

Question 28

Cars,groceries,and clothing are all examples of goods.

Question 29

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

Question 30

Waiting tables,teaching,and cutting hair are all examples of services that people pay for to fulfill their needs.

Question 31

The chief technology officer is responsible for ensuring the speed,accuracy,availability,and reliability for MIS.

Question 32

The chief security officer is responsible for ensuring the security of business systems and developing strategies and safeguards against attacks from hackers and viruses.

Question 33

MIS is a tool that is most valuable when it leverages the talents of people who know how to use and manage it effectively.

Question 34

Cooking a patty and putting the ingredients together are included in the process of making a hamburger.

Question 35

The chief technology officer is responsible for ensuring the security of business systems and developing strategies and safeguards against attacks from hackers and viruses.

Question 36

If a business could produce the same hamburger with less expensive inputs it would probably see a decrease in profits.

Question 37

The chief privacy officer is responsible for ensuring the ethical and legal use of information within a company.

Question 38

The chief knowledge officer is responsible for collecting,maintaining,and distributing company knowledge.

Question 39

An overview of systems thinking includes input,process,output,and finances.

Question 40

A grilled cheese sandwich is considered the final output of a making-a-sandwich process.

Question 41

Porter's Five Forces Model outlines the process for a sales strategy.

Question 42

Decreasing customer loyalty,increasing costs,and decreasing sales are all examples of business strategies.

Question 43

Businesses rarely need to update business strategies as the business environment remains relatively stable.

Question 44

When a company is the first to market with a competitive advantage,it gains a particular benefit known as competitive intelligence.

Question 45

The threat of substitute products or services refers to the power of customers to purchase alternatives.

Question 46

Supplier power is one of Porter's five forces and it measures the suppliers' ability to influence the prices they charge for supplies (including materials,labor,and services).

Question 47

Competitive advantages provide the same product or service either at a lower price or with additional value that can fetch premium prices.

Question 48

A first-mover advantage is the process of gathering information about the competitive environment,including competitors' plans,activities,and products,to improve a company's ability to succeed.

Question 49

Polaroid had a unique competitive advantage for many years until it forgot to observe competitive intelligence.The firm went bankrupt when people began taking digital pictures.Polaroid provides a great example of Porter's threat of new entrants.

Question 50

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

Question 51

Rivalry among existing competitors refers to the ability of buyers to affect the price they must pay for an item.

Question 52

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

Question 53

A leadership plan that achieves a specific set of goals or objectives is a business strategy.

Question 54

FedEx created a first-mover advantage by developing its customer self-service software,which allows people to request parcel pickups,print mailing slips,and track parcels online.

Question 55

There are many challenges to changing doctors,including transferring medical records and losing the patient-doctor relationship along with the doctor's knowledge of the patient's history.Changing doctors provides a great example of switching costs.

Question 56

Attracting new customers,decreasing costs,and entering new markets are all examples of business strategies.

Question 57

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.

Question 58

The threat of substitute products or services refers to the power of competitors to enter a new market.

Question 59

To combat business challenges leaders communicate and execute business strategies from the Greek word stratus for army and ago for leading.

Question 60

Product differentiation occurs when a company develops unique differences in its products or services with the intent to influence demand.

Question 61

A standardized set of activities that accomplish a specific task is called a supply chain component.

Question 62

Tiffany & Company competes in the marketplace by offering high-cost custom jewelry.Tiffany & Company is following a broad market and cost leadership strategy.

Question 63

Which of the following is considered a core driver of the information age?

A)Fact.
B)Goods.
C)Competitive Intelligence.
D)Data.

Question 64

A primary value activity is a standardized set of activities that accomplish a specific task,such as processing a customer's order.

Question 65

A business process is a standardized set of activities that accomplish a specific task,such as processing a customer's order.

Question 66

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

Question 67

Inbound logistics and operations are part of the support value activities.

Question 68

The value chain will group a company's activities into two categories: primary value activities and support value activities.

Question 69

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

Question 70

Inbound logistics and operations are part of the primary value activities.

Question 71

Buyer power is included as one of Porter's three generic strategies.

Question 72

Porter has identified three generic business strategies including focused,broad cost leadership,and switching strategy.

Question 73

Why do students need to study information technology?

A)Information technology is everywhere in business
B)Information technology is frequently discussed in business
C)Information technology is frequently used in organizations
D)All of the above.

Question 74

According to Porter it is recommended to adopt only one of the three generic strategies.

Question 75

According to Porter's three generic strategies,Walmart is following a business strategy that focuses on 'broad market and low cost'.

Question 76

Value chain analysis views a firm as a series of business processes that each adds value to the product or service.

Question 77

Which of the following is not considered a core driver of the information age?

A)Information.
B)Business Intelligence.
C)Competitive Intelligence.
D)Data.

Question 78

Which of the following is not considered a core driver of the information age?

A)Information.
B)Business Intelligence.
C)Knowledge.
D)All of the above.

Question 79

Which of the following is considered a core driver of the information age?

A)Information.
B)Business Intelligence.
C)Knowledge.
D)All of the above.

Question 80

Why do students need to study information technology?

A)Information technology is everywhere in business
B)Information technology is rarely discussed in business
C)Information technology is rarely used in organizations
D)Information technology is found in only a few businesses