Deck 1: Management Information Systems: Business Driven MIS

Question 1

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

Answer 1

False
Explanation: Knowledge workers are individuals valued for their ability to interpret and analyze information.

Question 2

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.

Answer 2

False
Explanation: Top managers use business intelligence, not social intelligence, to remain profitable, not unprofitable.

Question 3

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

Answer 3

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 4

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

Question 5

Business 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 6

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

Question 7

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

Question 8

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

Question 9

The Internet of Things refers to devices that connect directly to other devices.

Question 10

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

Question 11

The Internet of Things (IoT) is a world where interconnected, Internet-enabled devices or "things" can collect and share data without human intervention.

Question 12

Machine to machine (M2M) refers to devices that connect directly to other devices.

Question 13

People using the same information can make different decisions depending on how they interpret or analyze the information.

Question 14

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

Question 15

Predictive analytics extracts information from data and uses it to predict future trends and identify behavioral patterns.

Question 16

Machine to machine (M2M) extracts information from data and uses it to predict future trends and identify behavioral patterns.

Question 17

Predictive analytics is a world where interconnected, Internet-enabled devices or "things" can collect and share data without human intervention.

Question 18

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

Question 19

Top managers use predictive analytics to define the future of the business, analyzing markets, industries, and economies to determine the strategic direction the company must follow to remain profitable.

Question 20

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

Question 21

The business decisions made by the finance department include investment data, monetary data, and reporting data.

Question 22

The business decisions made by the accounting department include employee data, promotion data, and vacation data.

Question 23

The accounting and finance departments primarily use monetary data.

Question 24

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

Question 25

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

Question 26

The business decisions made by the marketing department include transactional data, purchasing data, payroll data, and tax data.

Question 27

The business decisions made by the operations management department include manufacturing data, distribution data, and production data.

Question 28

The business decisions made by the human resources department include employee data, promotion data, and vacation data.

Question 29

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

Question 30

The sales and marketing departments primarily use monetary data.

Question 31

The business decisions made by the marketing department include promotional data, sales data, and advertising data.

Question 32

The business decisions made by the accounting department include transactional data, purchasing data, payroll data, and tax data.

Question 33

The business decisions made by the human resources department include investment data, monetary data, and reporting data.

Question 34

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

Question 35

The business decisions made by the finance department include promotion data, sales data, and advertising data.

Question 36

The business decisions made by the accounting department include manufacturing data, distribution data, and production data.

Question 37

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

Question 38

The business decisions made by the human resources department include potential customer data, sales report data, commission data, and customer support data.

Question 39

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

Question 40

The business decisions made by the sales department include potential customer data, sales report data, commission data, and customer support data.

Question 41

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 42

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

Question 43

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

Question 44

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

Question 45

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

Question 46

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 47

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 48

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

Question 49

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

Question 50

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

Question 51

It is not uncommon to find stakeholders' business strategies have conflicting interests such as investors looking to increase profits by eliminating employee jobs.

Question 52

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

Question 53

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

Question 54

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

Question 55

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

Question 56

A stakeholder is a person or group that has an interest or concern in an organization.Stakeholders drive business strategies, and depending on the stakeholder's perspective, the business strategy can change.

Question 57

Goods are material items or products that customers will buy to satisfy a want or need.

Question 58

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 59

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 60

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

Question 61

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

Question 62

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 63

In a SWOT analysis, potential external threats are harmful when they identify all threats or risks detrimental to your organization, including new market entrants, substitute products, employee turnover, differentiating products, shrinking markets, adverse changes in regulations, economic shifts, and so on.

Question 64

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

Question 65

In a SWOT analysis, potential internal strengths are helpful when they identify all key strengths associated with the competitive advantage including cost advantages, new and/or innovative services, special expertise and/or experience, proven market leader, improved marketing campaigns, and so on.

Question 66

A SWOT analysis evaluates an organization's strengths, worries, opportunities, and technologies to identify significant influences that work for or against business strategies.

Question 67

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

Question 68

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

Question 69

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

Question 70

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

Question 71

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 72

In a SWOT analysis, strengths and weaknesses originate inside an organization, or internally.Opportunities and threats originate outside an organization, or externally, and cannot always be anticipated or controlled.

Question 73

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

Question 74

In a SWOT analysis, potential external opportunities are helpful when they identify all significant trends along with how the organization can benefit from each, including new markets, additional customer groups, legal changes, innovative technologies, population changes, competitor issues, and so on.

Question 75

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

Question 76

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 77

In a SWOT analysis, potential internal weaknesses are harmful when they identify all key areas that require improvement.Weaknesses focus on the absence of certain strengths, including absence of an Internet marketing plan, damaged reputation, problem areas for service, outdated technology, employee issues, and so on.

Question 78

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 79

A SWOT analysis evaluates an organization's strengths, weaknesses, opportunities, and threats to identify significant influences that work for or against business strategies.

Question 80

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