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Exam 1: Information Systems Are Business

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Question 21

True/False

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Two ways to reduce buyer power is through switching costs and loyalty programs.

A) True
B) False

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Question 22

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Information technology can enable departments to more efficiently and effectively perform their core ____________.

A) Facts
B) Feedback mechanisms
C) Business operations
D) Media issues

E) A) and C)
F) A) and D)

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Question 23

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Business intelligence is information collected from multiple sources.Which of the following provides an example of a source that would be included in business intelligence?

Jennifer Bloom is writing a paper and she must determine which of Porter's three generic strategies The Museum Company has implemented.Jennifer finds out that The Museum Company offers specialty products found only in museums around the world to affluent customers.What would Jennifer determine The Museum Company is using as its generic strategy?

Data is useful for understanding individual sales,but to gain deeper insight into a business data needs to be turned into information.Which of the following offers an example of turning data into information?

Supplier power is one of Porter's five forces,and it measures the suppliers' ability to influence the prices they charge for supplies (including materials,labour and services).

Which of the following offers an example where Porter's Five Forces are mostly weak and competition is low?

When analysing Porter's three generic strategies for entering a market,if you have a focused strategy what market should you target?

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

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 added value to its customers and,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?

Which of the following statements is true?

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

Compare Porter's three generic strategies.

What is a competitive advantage?

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

According to Porter's three generic strategies,Hyundai is following a business strategy that focuses on 'broad market and low cost'.

The value chain groups a company's activities into two categories: primary value activities and support value activities.

A system is a collection of parts that link to achieve a common purpose.Systems thinking is a way of monitoring _______________.

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

Which of the following is not a typical way that a company would duplicate a competitive advantage?