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Exam 1: Management Information Systems: Business Driven MIS

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Question 111

Multiple Choice

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

A) Goods
B) Services
C) Production
D) Productivity

E) A) and D)
F) A) and B)

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Question 112

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

A) True
B) False

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Question 113

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How are the majority of companies today typically organized?

Knowledge includes the skills,experience,and expertise coupled with information and _________ that creates a person's intellectual resources.

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

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

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

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

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

Sandy Fiero works as the Chief Knowledge Officer for Bend Lumbar Company.She has been given the responsibility to create a product or service that will bring an added value to its customers to increase the company's revenue.Sandy determines that the best value she can add is by creating a service that offers free next day shipping on any order over $50.Where in the value chain is Sandy adding value?

What is the support value activity that provides employees with training,hiring,and compensation?

Cheryl Steffan is the operations manager for Nature's Bread Company,which specializes in providing natural products for health conscious individuals.Cheryl is responsible for compiling,analyzing,and evaluating daily sales numbers to determine the company's profitability and forecast production for the next day.Which of the following is an example of a piece of data Cheryl would be using to successfully perform her job?

The department within a company that performs the function of selling goods or services is called _______________:

Which of the below is the key term that defines the confirmation or validation of an event or object?

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

Which of the following is considered a service?

Today's workers are referred to as _______________ and they use BI along with personal experience to make decisions based on both information and intuition,a valuable resource for any company.

Paula Logston is the owner and operator of a high-end online custom clothing company.Paula has never heard of Porter's Five Forces model and she wants to understand why she would perform an analysis using it.If you were tasked with explaining Porter's Five Forces model to Paula what would be the primary reason she would want to use this type of analysis?

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

Apple utilized the first-mover ________ with its iPod product.