Question 1

The product focus or niche competitive strategy is similar to both the low-cost and differentiation strategies,but with a much narrower market focus.

Accepted Answer

The statement accurately describes the product focus or niche competitive strategy, which involves targeting a smaller, more specific market segment with a unique product or service offering. This approach requires a deep understanding of the target market's needs and preferences, and can be highly effective in creating a loyal customer base and achieving sustainable competitive advantage. However, it also carries the risk of being too narrowly focused and not generating enough sales volume to achieve economies of scale.

Question 2

A company should define its competitive strategy and then define its mission and objectives.

Accepted Answer

A company typically defines its mission and objectives first, which then guide the development of its competitive strategy.

Question 3

Objective statements are a series of statements that express an organization's qualitative and quantitative goals for reaching a desired future position.

Accepted Answer

Objective statements are intended to outline an organization's goals and aspirations for the future, both in terms of qualitative and quantitative measures.

Question 4

Systems requirements planning is an orderly means of assessing the information needs of an organization and defining the systems,databases,and technologies that will best satisfy those needs.

Accepted Answer

The answer of Systems requirements planning is an orderly means...

Question 5

"Baker's Fitness Center will increase market share and profitability" is an example of a mission statement.

Accepted Answer

A mission statement typically describes the purpose and core values of an organization, not specific goals like increasing market share and profitability.

Question 6

The South Korean-produced Hyundai uses a product focus competitive strategy.

Accepted Answer

The answer of The South Korean-produced Hyundai uses a product...

Question 7

"We are in the business of selling high-quality men's shoes" is an example of a mission statement.

Accepted Answer

This statement clearly outlines the purpose of the business and its focus on providing a specific type of product, making it an example of a mission statement.

Question 8

A competitive strategy is the method by which an organization attempts to achieve its mission and objectives.

Accepted Answer

A competitive strategy is indeed the approach an organization uses to attain its goals and vision by competing and outdoing other organizations in the same industry.

Question 9

A business objective statement is a statement that makes it clear what business the company is in.

Accepted Answer

A business objective statement outlines specific goals and targets a company aims to achieve, not the industry or business it operates in.

Question 10

A disciplined approach,driven by top management commitment,is a prerequisite to most effectively apply information systems in order to reach organizational objectives.

Accepted Answer

It is important for top management to commit to a disciplined approach when applying information systems in order to achieve organizational objectives. This commitment helps ensure that the resources and efforts put into implementing information systems are focused and aligned with the goals of the organization. Without this level of commitment, the benefits of information systems may not be fully realized.

Question 11

Promoting your product as having an ingredient that competing products do not,setting the product apart from the competition,best exemplifies the product differentiation competitive strategy.

Accepted Answer

Promoting a unique ingredient in a product is a characteristic of the product differentiation strategy. This strategy is meant to make a product stand out from other similar products and increase its perceived value in the eyes of consumers.

Question 12

A low-cost producer competitive strategy reflects competing in an industry on the basis of product or service cost to the consumer.

Accepted Answer

A low-cost producer competitive strategy involves focusing on reducing production and distribution costs in order to offer products or services at a lower price to the consumer compared to competitors. This can be achieved through efficient operations, economies of scale, and careful cost management. By offering lower prices, companies can gain market share and compete effectively in the industry.

Question 13

During corporate strategic planning,executives typically develop a mission statement,statements of future corporate objectives,and strategies designed to help the organization reach its objectives.

Accepted Answer

Developing a mission statement, statements of future objectives, and strategies are all key components of the corporate strategic planning process.

Question 14

Data redundancy and users having little confidence in the quality of data are reasons why improved information systems project identification and selection is needed.

Accepted Answer

Data redundancy can lead to confusion and errors, while low confidence in data quality can result in poor decision-making. Therefore, it is important to have a better process for identifying and selecting information system projects to ensure they address these issues and meet the needs of stakeholders.

Question 15

Corporate analysis is an ongoing process that defines the mission,objectives,and strategies of an organization.

Accepted Answer

The answer of Corporate analysis is an ongoing process that...

Question 16

Requirements determination and requirements structuring are two processes that can significantly improve the quality of project identification and selection decisions.

Accepted Answer

The answer of Requirements determination and requirements structuring are two...

Question 17

The rising costs of information systems is one reason why improved information systems project identification and selection is needed.

Accepted Answer

The statement is true. If the costs of information systems continue to rise, it is essential to have improved project identification and selection processes to ensure that resources are allocated to projects that will provide the greatest value and benefits to the organization. This can help to minimize costs and maximize return on investment.

Question 18

Mission statements are a series of statements that express an organization's qualitative and quantitative goals for reaching a desired future position.

Accepted Answer

A mission statement defines an organization's purpose, core values, and primary objectives, focusing on the present rather than future goals.

Question 19

To build the most effective information systems,an organization must clearly understand its mission,objectives,and strategy.

Accepted Answer

Understanding the mission, objectives and strategy of an organization is important to build information systems that align with and support these goals. This helps ensure that resources are being used in the most efficient and effective way possible to achieve success.

Question 20

Mission statements are often referred to as critical success factors.

Accepted Answer

Mission statements and critical success factors are different concepts; mission statements define an organization's purpose, while critical success factors are elements necessary for achieving goals.

Quiz 4: Identifying and Selecting Systems Development Projects