Question 1

A good business model is essential for a new venture, but is seldom necessary for established businesses.

Accepted Answer

A good business model is important not only for new ventures but also for established businesses to ensure their growth, sustainability, and profitability. A well-defined business model can help businesses identify their target audience, their revenue streams, and the costs associated with their operations. It can also assist in creating competitive advantages and keeping up with industry trends and customer preferences. Consequently, a good business model is vital for any business, regardless of its age or size.

Question 2

A weakness is the potential for business and market losses posed by the actions of competitors and other competitive forces.

Accepted Answer

A weakness refers to internal limitations or deficiencies within a company that hinder its ability to achieve objectives, not external threats like competitors' actions.

Question 3

A technology platform should include support for developing and maintaining inter-enterprise supply chain applications, integrated enterprise resource planning, and customer relationship management applications.

Accepted Answer

False

Question 4

A threat is the potential for business and market losses posed by the actions of competitors and other competitive forces.

Accepted Answer

A threat is a potential danger or risk to a business or market, which can come from competitors, market fluctuations, changes in regulations, and other factors. It is a real or perceived challenge or obstacle to the successful operation and profitability of a business. Therefore, the statement is true.

Question 5

Team planning sessions frequently include answering strategic advantage questions.

Accepted Answer

The answer of Team planning sessions frequently include answering strategic...

Question 6

According to the text case, most CIOs find that putting together a strategic IT plan is a very simplistic process as it is based on the firm's overall strategic plan.

Accepted Answer

The text case mentions that putting together a strategic IT plan is not a simplistic process as it involves understanding the business goals and objectives, assessing IT capabilities, and identifying technological opportunities and constraints. Therefore, the statement that most CIOs find it a simplistic process is false.

Question 7

The strategic development component of the business/IT planning process involves developing business strategies that support a company's business vision, such as using information technology to create innovative e-business systems that focus on customer and business value.

Accepted Answer

This statement is true. The strategic development component of the business/IT planning process involves developing business strategies that support a company's business vision, which may include using information technology to create innovative e-business systems. The focus is on creating value for both customers and the business.

Question 8

In a planning context, a virtual world is a microcosm of the real world.

Accepted Answer

A virtual world is designed to simulate and replicate aspects of the real world, making it a smaller representation of it. This can be used for planning purposes to test scenarios and explore different options before implementing them in the real world.

Question 9

An IT organization should include support for developing and maintaining inter-enterprise supply chain applications, integrated enterprise resource planning, and customer relationship management applications.

Accepted Answer

The answer of An IT organization should include support for...

Question 10

The resource management component of the business/IT planning process involves developing business strategies that support a company's business vision, such as using information technology to create innovative e-business systems that focus on customer and business value.

Accepted Answer

The resource management component primarily focuses on efficiently and effectively managing the IT resources, such as hardware, software, data, and networks, rather than developing business strategies. Developing business strategies that support a company's vision, including the use of IT for e-business systems, is more directly related to strategic planning components of the business/IT planning process.

Question 11

A strength is the potential for new business markets or innovative breakthroughs that might expand present markets.

Accepted Answer

A strength refers to an internal attribute or resource that gives a company an advantage over competitors, not potential opportunities like new markets or innovations.

Question 12

The technology architecture component of the business/IT planning process involves developing business strategies that support a company's business vision, such as using information technology to create innovative e-business systems that focus on customer and business value.

Accepted Answer

The technology architecture component focuses on defining the technical infrastructure and tools necessary to support business strategies, not on developing the business strategies themselves.

Question 13

An opportunity is the potential for new business markets or innovative breakthroughs that might expand present markets.

Accepted Answer

An opportunity refers to potential new business markets or innovative breakthroughs that might expand present markets, thus making it true that it is the potential for such expansions.

Question 14

Either the CEO or the CIO of a company must manage the development of complementary business and IT strategies in order meet its customer value and business value vision.

Accepted Answer

The answer of Either the CEO or the CIO of...

Question 15

The business case for investing in proposed e-business development projects is evaluated by company executives and business unit managers based on the strategic business priorities that they decide are most desirable or necessary at that point in time.

Accepted Answer

The statement accurately describes how companies evaluate the business case for investing in proposed e-business development projects.

Question 16

An applications architecture should include support for developing and maintaining inter-enterprise supply chain applications, integrated enterprise resource planning, and customer relationship management applications.

Accepted Answer

An application architecture should include support for developing and maintaining inter-enterprise supply chain applications, integrated enterprise resource planning, and customer relationship management applications to ensure seamless integration and efficient operation of these critical business functions.

Question 17

The business/IT planning process focuses on discovering innovative approaches to satisfying a company's customer value and business value goals.

Accepted Answer

The business/IT planning process involves identifying business needs and goals and creating strategies to achieve them through the innovative use of technology. The ultimate goal is to provide customer value and improve business performance.

Question 18

Creating a role-playing exercise to be used in supervisory training is not the same as creating a microworld.

Accepted Answer

The answer of Creating a role-playing exercise to be used...

Question 19

It is common for the current market value of an organization to exceed the market value of its assets.

Accepted Answer

The market value of an organization includes factors such as brand value, reputation, future earnings potential, and other intangible assets that are not reflected in the book value of its physical assets. Therefore, it is possible for the current market value of an organization to exceed the market value of its assets.

Question 20

According to the text case, there are two basic types of IT risks.

Accepted Answer

There are generally more than two basic types of IT risks, including operational, compliance, strategic, and reputational risks, among others.

Quiz 11: Businessit Strategies for Development