Question 1

One consequence of globalization is increased competition.

Accepted Answer

Globalization has led to the opening up of markets for products and services, which in turn has increased competition as businesses from different countries and regions compete for a share of the market. This can lead to greater innovation and lower prices, but also puts pressure on companies to remain competitive and adapt to changing market conditions.

Question 2

Due to globalization, organizations often locate parts of their operations in different countries.

Accepted Answer

Globalization has led to an increase in international business operations, with many organizations opting to locate different aspects of their operations in different countries. This allows them to take advantage of different economic and regulatory environments, access new markets and talent pools, and diversify their operations geographically.

Question 3

Knowledge workers exist in all parts of an organization.

Accepted Answer

Knowledge workers are individuals who use their knowledge, skills, and abilities to create value through the application of new ideas, information, and technology in their work. They can exist in all parts of an organization, including but not limited to research and development, marketing, sales, customer service, and finance.

Question 4

A sequence of tasks or activities that takes a set of inputs and converts them into desired outputs is called:
A) globalization
B) Income statement
C) a business process
D) an ERP system

Accepted Answer

The definition given describes a business process, which involves taking inputs and transforming them into desired outputs through a sequence of tasks or activities. Globalization refers to the interconnectedness and integration of economies and societies around the world. An income statement is a financial statement that shows a company's revenues, expenses, and profits over a specific period of time. An ERP system is a type of software used by companies to manage and integrate various business processes and functions.

Question 5

___________ indicates the financial condition of a company at a specific point in time.
A) Income Statement
B) Balance Sheet
C) Chart of Accounts
D) Statement of Income

Accepted Answer

The Balance Sheet is a financial statement that shows a company's assets, liabilities, and equity at a specific point in time. It provides an overview of the financial condition of the company and can be used to assess the company's solvency and liquidity. The Income Statement (also referred to as the Statement of Income) shows a company's revenues and expenses over a specific period of time, and is used to determine the company's profitability. The Chart of Accounts is a list of accounts used to classify financial transactions, and is not a financial statement on its own.

Question 6

___________ indicate(s) the financial condition of a company over a specific period of time.
A) Income Statement
B) Balance Statement
C) Chart of Accounts
D) Statement of Income

Accepted Answer

The income statement shows a company's revenues and expenses over a specific period of time, usually a month, quarter, or year. The statement provides information on the company's profitability or loss during the period, making it the best choice for indicating the financial condition of a company over a specific period of time. Balance statement and chart of accounts are not specific financial statements, and a statement of income is not a standard financial statement term.

Question 7

Information and communication technologies help organization coordinate their global operations.

Accepted Answer

Information and communication technologies enable organizations to communicate and share information in real-time across different locations, making it easier to coordinate global operations.

Question 8

__________ can also be referred to as a profit and loss (P&L) statement.
A) Income Statement
B) Balance Statement
C) Chart of Accounts
D) Statement of Income

Accepted Answer

The Income Statement is also known as a profit and loss (P&L) statement as it shows the company's revenue and expenses over a specific period of time, resulting in either a profit or loss. B is incorrect because a Balance Sheet shows the company's assets, liabilities, and equity at a specific point in time. C is incorrect because a Chart of Accounts is a list of all the accounts used in a company's accounting system. D is incorrect because there is no such thing as a "Statement of Income."

Question 9

The information revolution has a very limited role in globalization.

Accepted Answer

The information revolution has played a significant role in globalization, by enabling the rapid spread of information, communication, and technology across the world.

Question 10

Functional Information Systems only support the activities of specific areas of the business.

Accepted Answer

Functional Information Systems are designed to support the activities of specific functional areas such as finance, marketing, HR, and operations, rather than the entire business as a whole.

Question 11

In a manual (paper-based) process, information is communicated between functional areas using an enterprise system.

Accepted Answer

In a manual (paper-based) process, information is typically communicated between functional areas through physical documents, such as memos or forms, rather than through an enterprise system.

Question 12

Task workers perform routine, well defined work.

Accepted Answer

Task workers are responsible for performing specific, repetitive tasks that are well-defined and require little judgment or decision-making.

Question 13

The silo effect refers to be losing sight of the big picture of the process and being narrowly focused on a task.

Accepted Answer

The definition of the silo effect is losing sight of the big picture and being narrowly focused on a task or department.

Question 14

The silo effect refers to the integrated and the cross-functional nature of business processes.

Accepted Answer

The silo effect refers to the lack of communication and collaboration between different departments or teams within a company, leading to a fragmented and inefficient approach to business processes. It is the opposite of an integrated and cross-functional approach.

Question 15

Unstructured information is well defined and its source is known.

Accepted Answer

Unstructured information is actually not well defined and its source may not be known or easily identifiable. It refers to data that is not organized in a predefined manner or does not fit neatly into a specific database or information model. Examples of unstructured information include social media posts, email messages, images, videos, and audio recordings, among others.

Question 16

Due to globalization, organizations tend to locate their operations in one country.

Accepted Answer

Due to globalization, organizations tend to locate their operations in multiple countries in order to take advantage of different factors such as labor, resources, and markets.

Question 17

Structured information is well defined and its source is known.

Accepted Answer

Structured information is characterized by a formal structure or format, as well as clearly defined elements and relationships between them. This information is typically sourced from a known and trusted source, and is often easier to manage and process than unstructured information. Therefore, the statement is true.

Question 18

People in organizations are becoming more dependent on information.

Accepted Answer

With the advancement in technology and the availability of data, people in organizations are becoming more reliant on information for decision making, problem solving, and achieving organizational goals.

Question 19

Knowledge workers are those who work in information systems departments of global companies.

Accepted Answer

Knowledge workers are not exclusively limited to information systems departments. They can be found in various industries such as finance, healthcare, education, consulting, etc.

Question 20

The information revolution refers to the increased use of communication and computer technologies to create, deliver, and use information.

Accepted Answer

The statement accurately describes the information revolution.

Quiz 1: Organizations, Processes, and Information Systems