Accounting
Anthropology
Archaeology
Art History
Banking
Biology & Life Science
Business
Business Communication
Business Development
Business Ethics
Business Law
Chemistry
Communication
Computer Science
Counseling
Criminal Law
Curriculum & Instruction
Design
Earth Science
Economic
Education
Engineering
Finance
History & Theory
Humanities
Human Resource
International Business
Investments & Securities
Journalism
Law
Management
Marketing
Medicine
Medicine & Health Science
Nursing
Philosophy
Physic
Psychology
Real Estate
Science
Social Science
Sociology
Special Education
Speech
Visual Arts
Management
Q:
The chief technology officer is responsible for ensuring the speed, accuracy, availability, and reliability for MIS.
Q:
Which of the following offers an example where Porters five forces are mostly strong and competition is high?
A. a dog walking business
B. a ski resort
C. a professional hockey team
D. All of these are correct.
Q:
The chief security officer is responsible for ensuring the security of business systems and developing strategies and safeguards against attacks from hackers and viruses.
Q:
Imagine you are creating a new product to sell in an up-and-coming market. Which of the following statements indicates that it would be difficult for you to enter this new market?
A. The threat of new entrants force is high in the up-and-coming market.
B. The threat of new entrants force is low in the up-and-coming market.
C. The threat of new entrants force is high during the summer months in the up-and-coming market.
D. All of these are correct, depending on the time of year.
Q:
The chief technology officer is responsible for ensuring the security of business systems and developing strategies and safeguards against attacks from hackers and viruses.
Q:
Imagine you are creating a new product to sell in an up-and-coming market. Which of the following statements indicates that it would be easy for you as the new entrant to compete in this market?
A. The threat of new entrants force is high in the up-and-coming market.
B. The threat of new entrants force is low in the up-and-coming market.
C. The threat of new entrants force is impossible to define in the up-and-coming market.
D. All of these are correct, depending on the time of year.
Q:
MIS is a tool that is most valuable when it leverages the talents of people who know how to use and manage it effectively.
Q:
Your boss has asked you to analyze the airline industry using Porters three generic strategies. Which of the following companies are using a differentiation strategy?
A. Southwest, Horizon, Frontier, JetBlue
B. British Airways, Singapore Airlines, Virgin Atlantic
C. Sky Taxi a rent by the hour personal plane service
D. All of these are correct.
Q:
An overview of systems thinking includes input, process, output, and finances.
Q:
Amazon.com uses a customer profiling system whenever a customer visits its website. Using this system, Amazon can offer products tailored to that particular customers profile and buying pattern. What is Amazon using to achieve this competitive advantage?
A. rivalry
B. buyer power
C. product differentiation
D. substitute product
Q:
Waiting tables, teaching, and cutting hair are all examples of services that people pay for to fulfill a need.
Q:
Which one of Porters five forces is high when it is easy for new competitors to enter a market and low when there are significant entry barriers to joining a market?
A. Threat of new entrants
B. Threat of substitute products or services
C. Threat of buyer power
D. Supply chain competition
Q:
The business decisions made by the accounting department include manufacturing data, distribution data, and production data.
Q:
Which of the following represents a typical supply chain?
A. company customers suppliers
B. company suppliers customers
C. suppliers company customers
D. suppliers customers company
Q:
The business decisions made by the human resources department include potential customer data, sales report data, commission data, and customer support data.
Q:
What is a feature of a product or service that customers have come to expect and entering competitors must offer the same if they want to survive?
A. significant barrier
B. entry barrier
C. product differentiation
D. entry chain
Q:
The business decisions made by the marketing department include transactional data, purchasing data, payroll data, and tax data.
Q:
How can a company reduce the threat of substitute products or services?
A. market the product to less than ten customers
B. ignore competitive forces
C. offer additional value through wider product distribution
D. offer less value, making the product far more generic and similar to the competition
Q:
The business decisions made by the human resources department include investment data, monetary data, and reporting data.
Q:
Your boss has asked you to analyze the soft drink industry using Porters five forces model. Which of the following represents a substitute product in the soft drink industry?
A. Pepsi requires stores that carry Pepsi products to commit to minimum orders of 1,000 cases.
B. Walmart negotiates a lower cost per bottle from Coke in exchange for premium shelf space in every Walmart store.
C. Zevia Natural Diet Soda begins selling directly over the Internet.
D. vitamin water, fruit juice, coffee
Q:
The business decisions made by the accounting department include employee data, promotion data, and vacation data.
Q:
Your boss has asked you to analyze the soft drink industry using Porters five forces model. Which of the following represents a threat of a new entrant in the soft drink industry?
A. Pepsi requires stores that carry Pepsi products to commit to minimum orders of 1,000 cases.
B. Walmart negotiates a lower cost per bottle from Coke in exchange for premium shelf space in every Walmart store.
C. Zevia Natural Diet Soda begins selling directly over the Internet.
D. vitamin water, fruit juice, coffee
Q:
The business decisions made by the finance department include promotion data, sales data, and advertising data.
Q:
Your boss has asked you to analyze the music industry using Porters five forces model. Which of the following represents the threat of substitute products or services in the music industry?
A. established record labels like EMI, Sony, Universal
B. independent record labels
C. game systems like Wii, social networks like Facebook
D. Taylor Swift, Beyonc, The Beatles, The Stones
Q:
The business decisions made by the operations management department include manufacturing data, distribution data, and production data.
Q:
Your boss has asked you to analyze the soft drink industry using Porters five forces model. Which of the following represents rivalry in the soft drink industry?
A. Pepsi requires stores that carry Pepsi products to commit to minimum orders of 1,000 cases.
B. Walmart negotiates a lower cost per bottle from Coke in exchange for premium shelf space in every Walmart store.
C. Zevia Natural Diet Soda begins selling directly over the Internet.
D. Coke and Pepsi submit bids to the owner of a football stadium for the exclusive sale of their products during games.
Q:
The business decisions made by the sales department include potential customer data, sales report data, commission data, and customer support data.
Q:
What is rivalry among existing competitors?
A. the ability of buyers to affect the price they must pay for an item
B. the suppliers ability to influence the prices they charge for supplies (including materials, labor, and services)
C. high when it is easy for new competitors to enter a market and low when there are significant entry barriers to joining a market
D. high when competition is fierce in a market and low when competitors are more complacent
Q:
The business decisions made by the accounting department include transactional data, purchasing data, payroll data, and tax data.
Q:
What is threat of new entrants?
A. the ability of buyers to affect the price they must pay for an item
B. the suppliers ability to influence the prices they charge for supplies (including materials, labor, and services)
C. high when it is easy for new competitors to enter a market and low when there are significant entry barriers to joining a market
D. high when there are many alternatives to a product or service and low when there are few alternatives from which to choose
Q:
The business decisions made by the finance department include investment data, monetary data, and reporting data.
Q:
What is threat of substitute products or services?
A. the ability of buyers to affect the price they must pay for an item
B. the suppliers ability to influence the prices they charge for supplies (including materials, labor, and services)
C. high when it is easy for new competitors to enter a market and low when there are significant entry barriers to joining a market
D. high when there are many alternatives to a product or service and low when there are few alternatives from which to choose
Q:
The business decisions made by the human resources department include employee data, promotion data, and vacation data.
Q:
What is supplier power?
A. the ability of buyers to affect the price they must pay for an item
B. the suppliers ability to influence the prices they charge for supplies (including materials, labor, and services)
C. high when it is easy for new competitors to enter a market and low when there are significant entry barriers to joining a market
D. high when there are many alternatives to a product or service and low when there are few alternatives from which to choose
Q:
The business decisions made by the marketing department include promotional data, sales data, and advertising data.
Q:
What is buyer power?
A. the ability of buyers to affect the price they must pay for an item
B. the suppliers ability to influence the prices they charge for supplies (including materials, labor, and services)
C. high when it is easy for new competitors to enter a market and low when there are significant entry barriers to joining a market
D. high when there are many alternatives to a product or service and low when there are few alternatives from which to choose
Q:
Successful companies today operate cross-functionally, integrating the operations of all departments.
Q:
Your boss has asked you to analyze the soft drink industry using Porters five forces model. Which of the following represents buyer power in the soft drink industry?
A. Pepsi requires stores that carry Pepsi products to commit to minimum orders of 1,000 cases.
B. Walmart negotiates a lower cost per bottle from Coke in exchange for premium shelf space in every Walmart store.
C. Zevia Natural Diet Soda begins selling directly over the Internet.
D. Coke and Pepsi submit bids to the owner of a football stadium for the exclusive sale of their products during games.
Q:
For an organization to succeed, every department or functional area must work independently to be most effective.
Q:
Your boss has asked you to analyze the soft drink industry using Porters five forces model. Which of the following represents supplier power in the soft drink industry?
A. Pepsi requires stores that carry Pepsi products to commit to minimum orders of 1,000 cases.
B. Walmart negotiates a lower cost per bottle from Coke in exchange for premium shelf space in every Walmart store.
C. Zevia Natural Diet Soda begins selling directly over the Internet.
D. vitamin water, fruit juice, coffee
Q:
The sales and marketing departments primarily use monetary data.
Q:
Your boss has asked you to analyze the music industry using Porters five forces model. Which of the following represents buyer power in the music industry?
A. established record labels like EMI, Sony, Universal
B. Walmart, Target, iTunes
C. independent record labels
D. game systems like Wii, social networks like Facebook
Q:
The accounting and finance departments primarily use monetary data.
Q:
Your boss has asked you to analyze the music industry using Porters five forces model. Which of the following represents supplier power in the music industry?
A. established record labels like EMI, Sony, Universal
B. Walmart, Target, iTunes
C. game systems like Wii, social networks like Facebook
D. Taylor Swift, Beyonc, The Beatles, The Stones
Q:
The operations management department manages the process of converting or transforming resources into goods or services.
Q:
The Victory Wireless store in Denver is currently offering a fabulous marketing strategy for potential new iPhone customers. Victory Wireless offers customers who purchase an iPhone with a 2-year subscription a free Otter phone case, car charger, earphones, and speakers. In terms of Porters Five Forces, what is Victory Wireless attempting to achieve with this marketing strategy?
A. increase buyer power
B. increase substitute products
C. decrease supplier power
D. decrease buyer power
Q:
The marketing department supports sales by planning, pricing, and promoting goods or services.
Q:
If a supplier has high power, what can it do to influence its industry?
A. charge higher prices
B. shift costs to industry participants
C. limit quality or services
D. All of these are correct.
Q:
The finance department performs the function of selling goods or services.
Q:
What is one of the most common ways a company can decrease supplier power?
A. charge lower prices
B. charge higher prices
C. use MIS to find and create alternative products
D. Companies cannot impact supplier power.
Q:
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.
Q:
Shawn is on the executive board for ABC pharmaceuticals. The company produces the number one selling cancer-fighting drug on the market. Due to its incredible success, ABC pharmaceuticals has decided to increase the cost of the drug from $8 a pill to $15 a pill. Which force is ABC pharmaceutical using to increase its drug price?
A. supplier power
B. buyer power
C. threat of false entrants
D. business power
Q:
Predictive analytics is a world where interconnected, Internet-enabled devices or things can collect and share data without human intervention.
Q:
In the center of Porters Five Forces model is competition. Which of the following represents the four outer boxes?
A. buyer power, systems power, threat of false entrants, and threat of substitute products or services
B. buyer power, systems power, threat of new entrants, and threat of substitute products or services
C. buyer power, supplier power, threat of new entrants, and threat of substitute products or services
D. business power, supplier power, threat of new entrants, and threat of powerful services
Q:
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.
Q:
Which of the following represents a company in a supply chain?
A. customer and competitor
B. supplier and competitor
C. knowledge worker and supplier
D. supplier and customer
Q:
Predictive analytics extracts information from data and uses it to predict future trends and identify behavioral patterns.
Q:
What includes all parties involved, directly or indirectly, in obtaining raw materials or a product?
A. support chain
B. supply chain
C. system chain
D. supply choice
Q:
Knowledge workers are individuals valued for their ability to mitigate risk and implement critical human resource rules and regulations.
Q:
Callie owns and operates one of the most successful local coffee shops in Denver called The Edgewater Caf. Each time a customer purchases their 100th cup of coffee at The Edgewater Caf, they receive a free pound of coffee of their choice. What is Callie attempting to create with her unique "Free Pound of Coffee" marketing program?
A. reducing buyer power with a loyalty program
B. increasing buyer power with a loyalty program
C. decreasing supplier power with a differentiated product
D. creating a substitute product
Q:
People using the same information can make different decisions depending on how they interpret or analyze the information.
Q:
What are costs that make customers reluctant to switch to another product or service?
A. support activities
B. switching costs
C. loyalty rewards
D. value chain activities
Q:
A variable is a business intelligence characteristic that stands for a value that cannot change over time.
Q:
Kevin is an incoming freshman at your college. Kevin is frustrated by the cost of books, tuition, and expenses and he also needs to purchase a rather expensive laptop. In an effort to save money, Kevin organizes a Facebook group with other college students who need to purchase laptops. Soon, Kevins Facebook group has close to 100,000 students. Kevin decides to collectively approach different computer companies to see if his group qualifies for a special discount. What business strategy is Kevin using to purchase laptops?
A. collecting business intelligence
B. decreasing entry barriers
C. purchasing a substitute product
D. increasing buyer power
Q:
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.
Q:
Michael Porter defined the Five Forces Model and the potential pressures that can hurt sales. Which of the following is not one of the potential pressures that can hurt sales?
A. Suppliers can drive down profits by charging more for supplies.
B. New market entrants can steal potential investment capital.
C. Substitute products can steal customers.
D. Competition can steal customers.
Q:
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.
Q:
Paula is the owner and operator of a high-end online custom clothing company. Paula has never heard of Porters Five Forces model and she wants to understand why she would perform an analysis using it. If you were tasked with explaining Porters Five Forces model to Paula, what would be the primary reason she would want to use this type of analysis?
A. to help Paula choose a clothing business focus
B. to help Paula evaluate the attractiveness of the clothing industry
C. to help Paula evaluate and execute business goals
D. All of these are correct.
Q:
Choosing not to fire a sales representative who is underperforming, knowing that person is experiencing family problems, is a form of knowledge.
Q:
What is Porter's Five Forces Model?
A. evaluates an organizations strengths, weaknesses, opportunities, and threats to identify significant influences that work for or against business strategies
B. analyzes the competitive forces within the environment in which a company operates to assess the potential for profitability in an industry
C. views a firm as a series of business processes, each of which adds value to the product or service
D. generic business strategies that are neither organization nor industry specific and can be applied to any business, product, or service
Q:
Order date, amount sold, and customer number are all forms of data.
Q:
What evaluates industry attractiveness?
A. SWOT Analysis
B. The Five Forces Model
C. Value Chain Analysis
D. Three Generic Strategies
Q:
Zappos is not a technology company; its primary business focus is to sell books.
Q:
Which of the following evaluates a project's position?
A. SWOT Analysis
B. The Five Forces Model
C. Value Chain Analysis
D. Three Generic Strategies
Q:
A fact is the confirmation or validation of an event or object. In the past, people primarily learned facts from books.
Q:
Steve Jobs and Apple created a big advantage in the technology industry with the introduction of the iPod, iPhone, and iPad. What are these all examples of?
A. competitive advantage
B. first-mover advantage
C. All of these are correct.
D. None of these are correct.
Q:
The information age is the present time, during which infinite quantities of facts are widely available to anyone who can use a computer.
Q:
The process of gathering information about the competitive environment, including competitors' plans, activities, and products, to improve a company's ability to succeed is the definition of ___________.
A. feedback
B. information
C. competitive intelligence
D. data
Q:
Companies today are successful when they combine the power of the information age with traditional business methods.
Q:
All of the following are common tools used in industry to analyze and develop competitive advantages, except _________.
A. the Five Forces Model
B. the three generic strategies
C. the competitive analysis model
D. value chain analysis