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Which of the following is not a typical way that a company would duplicate a competitive advantage
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A business strategy achieves a specific set of goals which include
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IT - 1-50
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| Question | Answer |
|---|---|
| Which of the following is not a typical way that a company would duplicate a competitive advantage | Carrying large product inventories |
| A business strategy achieves a specific set of goals which include | Attracting new customers, developing new products or services |
| Competitive intelligence is the process of gathering information about the competitive environment, including | Competitors plans |
| What is a competitive advantage | A feature of a product or service on which customers place a greater value than they do on similar offerings from competitors. |
| All of the following are common tools used in the industry to analyze and develop competitive advantages, except: | Competitive analysis model |
| 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 | Competitive intelligence |
| 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? | Suppliers can drive down profits by charging more for supplies |
| What are costs that make customers reluctant to switch to another product or service? | Switching Costs |
| What includes all parties involved, directly or indirectly, in obtaining raw materials or a product? | Supply Chain |
| IN the center of Porter's Five Forces model is competition. What of the below represents the four outer boxes? | Buyer power, supplier power, threat of new entrants, and threat of substitute products or services |
| Porter identified three generic strategies that a business could follow after identifying a market it wanted to enter. Which of the following is not included as one of Porter's three generic strategies? | Supplier cost differentiation |
| When analyzing Porter's three generic strategies for entering a market, if you have a focused strategy what market should you enter? | A niche market |
| Broad differentiation, broad leadership, and _____________ create the three generic strategies identified by Porter. | Focused strategy |
| If a business is following a focused strategy then its competitive scope is | Narrow market |
| Which of the below represents procurement as part of the support value activities in a value chain analysis | Purchase inputs such as raw materials, resources, equipment, and supplies |
| What is a standardized set of activities that accomplishes a specific task? | Business process |
| Which of the following analyzes a company's business processes and is useful for determining how to create the greatest possible value for customers? | value chain analysis |
| The foal of value chain analysis is to identify processes in which the firm can add value for the customer and create a competitive advantage for itself, with a _____________________ or _________________ | cost advantage, product differentiation |
| A ___________________ is the confirmation or validation of an event or object | FACT |
| The core drivers of the information age are data, knowledge, business intelligence and ________________? | information |
| Porter has identified three __________________ business strategies for entering a new market: 1. broad cost leadership, 2. broad differentiation, 3. focused strategy | generic |
| Focused strategies concentrate on either cost leadership or ______________________ | Differentiation |
| Which of the following is not a type of organizational information system? | analysis processing system |
| Which of the below is an important challenge facing managers | All of the above |
| What must managers be able to do to compete in today's global marketplace? | All of the above |
| When evaluating the six-step decision making process, what occurs during the solution implementation step? | the process will begin again if the decisions made were incorrect |
| Which of the below represents the structure of a typical organization | pyramid |
| which of the below represents the three different levels of a company pyramid from the top to the bottom? | strategic-managerial-operational |
| Data collection, solution generation, and solution implementation are all concepts associated with | the six step decision making process |
| CSF's and KPI's are two core metrics used to evaluate results and measure the progress of a project for a business. Which of the below represents the acronyms for CSF and KPI? | Critical success factors and key performatnce indicators |
| What are the measurements that evaluate results to determine whether a project is meeting its goals | metrics |
| What type of measurement is using market share as a KPI? | External Measurement |
| Which of the below represents an internal KPI that indicates the earning power of a project? | Return on investment |
| According to Peter Drucker, what are managers who do things right addressing? | Efficiency |
| According to Peter Drucker, what are managers who do the right things addressing? | Effectiveness |
| Which of the following are four common types of effectiveness MIS metrics? | usability, customer satisfaction, conversion rates, and financial |
| What is the process of continuously measuring system results, comparing those results to optimal system performance, and identifying steps and procedures to imprve system performance? | Benchmarking |
| What is a drill-down capability? | Enables users to get details, and details of details, of information |
| What is slice and dice capability? | enables users to get details, and details of details, of information |
| What compiles information from multiple sources and tailors it to meet user needs? | Digital Dashboard |
| What is a simplified representation or abstraction of reality | Model |
| what are the three primary types of management information systems available to support decision making across the company levels? | transaction processing systems, decision support systems, executive information systems. |
| Which of the below represent the four main DSS analysis techniques outlines in the chapter? | What if analysis, sensitivity analysis, goal seeking analysis, optimization analysis |
| Executives of a company deal less with details of the operational activities and deal more with the higher meaningful aggregations of information or "coarser" information. What refers to the level of detail in the model? | Granularity |
| How does DSS typically differ from EIS? | EIS requires data from external sources to support unstructured decisions where a DSS typically uses internal sources to suport semistructured decisions |
| __________________ focuses on the extent to which an organization is using its resources in an optimal way | Efficiency |
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