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Exam 1: Management Information Systems: Business Driven MIS

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Question 111

True/False

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Inbound logistics and operations are part of the support value activities.

A) True
B) False

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Question 112

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

A) True
B) False

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Question 113

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Which of the following is considered a core driver of the information age?

John is the CEO of Tech World, a retail store that sells computers, monitors, cameras, televisions and many other electronic products.John and his executive team are meeting to brainstorm new ideas on how to grow the business.One idea is to mimic a competitor's product that is attempting to sell a new product in a different industry.After performing a Porter's Five Forces analysis, John determines that all of the forces are high in this new industry.What should John do?

The actual hamburger is included in which category of making a hamburger?

Tiffany & Company competes in the marketplace by offering high-cost custom jewelry.Tiffany & Company is following a broad market and cost leadership strategy.

How can a company reduce the threat of substitute products or services?

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

What includes all parties involved, directly or indirectly, in obtaining raw materials or a product?

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?

If a business could produce the same hamburger with less expensive inputs it would probably see a decrease in profits.

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.

Identify the different departments in a company and why they must work together to achieve success.

________ extracts information from data and uses it to predict future trends and identify behavioral patterns.

The business decisions made by the operations management department include manufacturing data, distribution data, and production data.

If you were thinking about a washing machine as a system, which of the following represents the outputs?

What are material items or products that customers will buy to satisfy a want or need?

The business decisions made by the finance department include promotion data, sales data, and advertising data.

Predictive analytics extracts information from data and uses it to predict future trends and identify behavioral patterns.

People using the same information can make different decisions depending on how they interpret or analyze the information.