According to Michael Porter, what is the definition of competitive advantage?
Creating and sustaining superior performance.
What is the productivity paradox?
Even though we've added information technology to business, it has not improved productivity. Yet, we cannot think of operating a business without technology
Which of the following is NOT a substitute product for a car?
A hybrid vehicle
In general, the Internet has __________________ bargaining power of customers.
Increased
What does Electronic Data Interchange (EDI) do?
Integrates the supply chain technologically, so that business partners share documents and information regarding production
Which of the following is NOT a secondary activity on the Value Chain?
Marketing and Sales
Which of the following is a semi-structured decision?
Diagnosing a medical condition
Why does Nicholas Carr claim IT Doesn't Matter?
Because information technology is so readily available and the software used so easily copied, businesses cannot hope to implement these tools to provide any competitive advantage
Which of the following is NOT a primary activity on the Value Chain?
Technology Development
Specifically, a Strategic Information system is one that attempts to do what?
All of the above:
-Deliver a product or service at lower cost.
-Deliver a differentiated product or service.
-Enable innovation.
Explain Porter's Value Chain model?
Serious of activities under taken by the company to produce a product/service, Help analyze specific activities through value & competitive advantage
-Primary: Inbound Logistics, Outbound Logistics, Marketing and Sales, Operations and Service
-Supportive:
Explain Porter's 5 Forces
#1 Bargain Power of Buyer: Ability of customer to put form under pressure
#2 Bargaining Power of Supplies: Supplier control prices
#3 Intra-Industry Rivalry: Competition
#4 Threats of Substitute: Other products instead of the company product
#5 Threats of
Which of the below is not one of Porter's Five Forces?
Manager Power
Why do students need to study Information Technology?
All of the above:
- Information technology is everywhere in business
- Information technology is frequently discussed in business
- Information technology is frequently used in organizations
A business strategy achieves a specific set of goals which include?
#1 Attracting new customers
#2 Developing new products
#3 Having new services
Which of the below represents Knowledge?
Skills, experience, and expertise, coupled with information and intelligence that creates a person's intellectual resources
Which of the following represents a reason why Competitive Advantages are typically temporary?
All of the above:
- The competitor will hire away your key employees.
- The competitor quickly seeks ways to duplicate your business operations.
- The competitor will purchase new technology
Which represents Business Intelligence?
Information collected from multiple sources that analyzes patterns, trends, and relationships for strategic decision making
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 industry to analyze and develop competitive advantages, except?
Answer:
Competitive analysis model
- Five Forces Model
- Three Generic Strategies
- Value chain analysis
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?
All of the above:
- Competitive advantage
- Competitive intelligence
- First-mover advantage
Which of the following is included in Porter's Five Forces Model?
Power of Competitors
Kevin Campbell 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 beings a Facebook group finding other colleg
Increasing Buyer Power
What are costs that make customers switch to another product/service?
Switching Cost
Shawn McGill 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 t
Supplier Power
How can a company reduce the threat of Substitute products/services?
Offer additional value through wider product distribution
John Cleaver is the CEO of Tech World, which is 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 i
Not introduce the product because the 5 forces are strong and this would be a highly risky business strategy
Some industries' competition is much more intense than others. Retail grocery stores such as Ralphs, Vons, and Albertson's in the United States experience fierce competition and offer similar marketing campaigns to compete. What is this an example of in t
Rivalry among Existing Competitors
Your boss, Kerry Miller, has asked you to analyze the soft drink industry using Porter's Five Forces model. Which of the following represents buyer power in the soft drink industry?
Walmart negotiates a lower cost per bottle from Coke in exchange for premium shelf space in every Walmart store
Porter identified 3 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 3 generic strategies?
Supplier Cost Differentiation
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
Narrow market and high cost
What includes support value activities and primary value activities and is used to determine how to create the greatest possible value for customers?
The Value Chain analysis
What is business process?
A process that is focused on achieving a goal for a business
What is using a business process management systems?
Integration of Information Systems with business process that leads to compative advantage
What is true about business processes?
All of the above:
- A business process, is a process that is focused on achieving a goal for a business
- Processes are something that businesses go through every day in order to accomplish their mission
- Automation through technology helps to make busin
According to the author what is the simplest way to document a process?
Make a simple list of each step in the process
What does a Document Management System (DMS) control?
#NAME?
What is benefit of ERP (Enterprise Resource Planning)?
All of the above:
- It helps to standardize business processes in a firm.
- It has best-practices in process management build into it.
- Having a centralized database helps eliminate the need for data entry and reduces errors.
What is one of the criticisms of ERP (Enterprise Resource Planning) Systems?
ERP systems are NON-flexible
What are advantages of Business Process Management systems?
All of the above:
- Build in reporting
- Enforce best practices
- Enforce consistency
What is ISO 9000?
A certification for quality business process management
Which describes the role of a systems analyst?
All of the above:
- Translate the systems requirements into an information-systems design
- Work with people, teams and departments to determine what the business requirements are
- Document business processes.
What does off-the-shelf mean regarding information systems?
Purchasing a system that has already been built
Which of the following jobs can be an administrative support function for a company?
All of the above:
- Computer Operator
- Help Desk Administrator
- Database Administrator
This person aligns the plans and operations of the information systems with the strategic goals of the organization?
CIO
Describe the job of a Project Manager?
All of the above:
- "Lead the project, keeping it on time and within budget."
- Report to upper management and the project team. Communicate constantly.
- Work with stakeholders to solve their IT problems.
What is meant by Matrix Organization
Employees have 2 managers:
#1 Functional Manager
#2 Project Manager
What is Flattened Organization?
An organization that has removed one or more layers of management, creating better communication and faster business processes
On the curve of technology adoption, who are the users that are first to adopt a new technology?
Innovators
What are some emerging roles in IT?
All of the above:
- Social media specialist.
- Data/Business intelligence analyst.
- Cloud computing specialist.
Which of the following is Not an advantage of Outsourcing?
Easily negotiated contracts
What is SOX
SOX (Sarbanes-Oxley Act): Passed buy US Congress to protect investors from possible fraudulent accounting activities by corporate
What is HIPPA?
HIPPA (Health Insurance Portability & Accessibility Act): Federal law that sets national standard to protect medical records
What is FIRPA?
FIRPA (Family Education Rights & Private Act): Federal legislation protects the privacy of student personal identity info
What are the steps in the Systems Development Life Cycle (SDLC) Methodology?
#1 Preliminary Analysis
#2 Systems Analysis
#3 Systems Design
#4 Programming
#5 Test
#6 Implementation
#7 Maintenance
What are the 4 phases of RAD software development?
#1 Requirements Planning
#2 User Design
#3 Construction
#4 Cutover
What makes RAD different from Systems Development Life Cycle (SDLC)?
RAD involves the users heavily in design and gets working system rapidly, then modifying it
What are the advantages of Agile Methodology?
All of the above:
- A working version of the software is available at the end of each iteration
- A lot of emphasis is placed on quality over paperwork.
- Stakeholders get to see the product at the end of each iteration
What components make up the quality triangle?
#1 Time
#2 Quality
#3 Cost
What are some advantages of purchasing Software instead of Building it in-house?
It is available more quickly than building it yourself
What is Responsive Design?
A web design framework in which Web sites change size to fit the device of the user
What are Web Services?
All of the above:
- Applications and components that are already built
- The components can be used in development of other applications to speed up development time
- An example of a Web service is Google Maps API
What is the implementation Methodology in which the old system is stopped and the new system is implemented?
Direct Cutover
What is the implementation Methodology that smaller portions of functionality of a system are implemented one at a time?
Phased Implementation
What are 3 techniques for selecting strategic projects
#1 Focus on organizational goals
#2 Categorigize projects
#3 Perform a finacial analzye
What is Aigle Methodology?
Alterative to traditional projects managment, used in software developmemnt
What are 4 characteristics of Agile Methodology?
#1 Daily status meetings are held
#2 Small cross-functional teams are used
#3 Short-time frames incidents for each change
#4 Working projects is completed at the end of each integrated to stake holders
One example of Project 4?
Tablets used from Chili's that a customer can order and pay. It is interesting given that, it will decrease hiring employees.
What is Business Intelligence (BI)?
A software application used to analyze a raw data uses analytic processing
What is Data warehouse?
A large storage of data accumalated from wide range of source within a campany and used to guide managment decisions
What is ETL?
ETL (Extract, Tranform, Load): they are combined into one tool to pull data out of one database and place it in another process of reading data from database
What is Data Marts?
Small slices of the data warehouse have an enterprise waide depth which only pertains to a single department
What is Data Visualization?
Describes any effort to help people understand the signifigance of data by placing it visual constant
What is Open Source?
Software that is freely available and can be modified and redistributed
Adv: Low Cost, Can be modified
Dis: Difficult to use, Can be hacked
What is Cloud Computing?
Using a network of remote servers hosted on the internet to store, manage and process data rather than local server/personal computer
Adv: Reliable, Manageable, Strategic Edge
Dis: Not secure, Limited control, Vedor lock in
What is Entity?
A person, place, thing, transaction or event about which is started
What is Atribute?
(Field/Colum): Data elements associated with an entity
What is a Record?
A collection of related data elements
What is a Primary Key?
A field that uniqueness identities a given entity in a table
Describe each of the Information System (IS) 5 componets?
#1 Hardware
#2 Software
#3 Data
#4 People
#5 Process
According to Michael Porter, what is the definition of competitive advantage?
Creating and sustaining superior performance.
What is the productivity paradox?
Even though we've added information technology to business, it has not improved productivity. Yet, we cannot think of operating a business without technology
Which of the following is NOT a substitute product for a car?
A hybrid vehicle
In general, the Internet has __________________ bargaining power of customers.
Increased
What does Electronic Data Interchange (EDI) do?
Integrates the supply chain technologically, so that business partners share documents and information regarding production
Which of the following is NOT a secondary activity on the Value Chain?
Marketing and Sales
Which of the following is a semi-structured decision?
Diagnosing a medical condition
Why does Nicholas Carr claim IT Doesn't Matter?
Because information technology is so readily available and the software used so easily copied, businesses cannot hope to implement these tools to provide any competitive advantage
Which of the following is NOT a primary activity on the Value Chain?
Technology Development
Specifically, a Strategic Information system is one that attempts to do what?
All of the above:
-Deliver a product or service at lower cost.
-Deliver a differentiated product or service.
-Enable innovation.
Explain Porter's Value Chain model?
Serious of activities under taken by the company to produce a product/service, Help analyze specific activities through value & competitive advantage
-Primary: Inbound Logistics, Outbound Logistics, Marketing and Sales, Operations and Service
-Supportive:
Explain Porter's 5 Forces
#1 Bargain Power of Buyer: Ability of customer to put form under pressure
#2 Bargaining Power of Supplies: Supplier control prices
#3 Intra-Industry Rivalry: Competition
#4 Threats of Substitute: Other products instead of the company product
#5 Threats of
Which of the below is not one of Porter's Five Forces?
Manager Power
Why do students need to study Information Technology?
All of the above:
- Information technology is everywhere in business
- Information technology is frequently discussed in business
- Information technology is frequently used in organizations
A business strategy achieves a specific set of goals which include?
#1 Attracting new customers
#2 Developing new products
#3 Having new services
Which of the below represents Knowledge?
Skills, experience, and expertise, coupled with information and intelligence that creates a person's intellectual resources
Which of the following represents a reason why Competitive Advantages are typically temporary?
All of the above:
- The competitor will hire away your key employees.
- The competitor quickly seeks ways to duplicate your business operations.
- The competitor will purchase new technology
Which represents Business Intelligence?
Information collected from multiple sources that analyzes patterns, trends, and relationships for strategic decision making
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 industry to analyze and develop competitive advantages, except?
Answer:
Competitive analysis model
- Five Forces Model
- Three Generic Strategies
- Value chain analysis
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?
All of the above:
- Competitive advantage
- Competitive intelligence
- First-mover advantage
Which of the following is included in Porter's Five Forces Model?
Power of Competitors
Kevin Campbell 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 beings a Facebook group finding other colleg
Increasing Buyer Power
What are costs that make customers switch to another product/service?
Switching Cost
Shawn McGill 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 t
Supplier Power
How can a company reduce the threat of Substitute products/services?
Offer additional value through wider product distribution
John Cleaver is the CEO of Tech World, which is 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 i
Not introduce the product because the 5 forces are strong and this would be a highly risky business strategy
Some industries' competition is much more intense than others. Retail grocery stores such as Ralphs, Vons, and Albertson's in the United States experience fierce competition and offer similar marketing campaigns to compete. What is this an example of in t
Rivalry among Existing Competitors
Your boss, Kerry Miller, has asked you to analyze the soft drink industry using Porter's Five Forces model. Which of the following represents buyer power in the soft drink industry?
Walmart negotiates a lower cost per bottle from Coke in exchange for premium shelf space in every Walmart store
Porter identified 3 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 3 generic strategies?
Supplier Cost Differentiation
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
Narrow market and high cost
What includes support value activities and primary value activities and is used to determine how to create the greatest possible value for customers?
The Value Chain analysis
What is business process?
A process that is focused on achieving a goal for a business
What is using a business process management systems?
Integration of Information Systems with business process that leads to compative advantage
What is true about business processes?
All of the above:
- A business process, is a process that is focused on achieving a goal for a business
- Processes are something that businesses go through every day in order to accomplish their mission
- Automation through technology helps to make busin
According to the author what is the simplest way to document a process?
Make a simple list of each step in the process
What does a Document Management System (DMS) control?
#NAME?
What is benefit of ERP (Enterprise Resource Planning)?
All of the above:
- It helps to standardize business processes in a firm.
- It has best-practices in process management build into it.
- Having a centralized database helps eliminate the need for data entry and reduces errors.
What is one of the criticisms of ERP (Enterprise Resource Planning) Systems?
ERP systems are NON-flexible
What are advantages of Business Process Management systems?
All of the above:
- Build in reporting
- Enforce best practices
- Enforce consistency
What is ISO 9000?
A certification for quality business process management
Which describes the role of a systems analyst?
All of the above:
- Translate the systems requirements into an information-systems design
- Work with people, teams and departments to determine what the business requirements are
- Document business processes.
What does off-the-shelf mean regarding information systems?
Purchasing a system that has already been built
Which of the following jobs can be an administrative support function for a company?
All of the above:
- Computer Operator
- Help Desk Administrator
- Database Administrator
This person aligns the plans and operations of the information systems with the strategic goals of the organization?
CIO
Describe the job of a Project Manager?
All of the above:
- "Lead the project, keeping it on time and within budget."
- Report to upper management and the project team. Communicate constantly.
- Work with stakeholders to solve their IT problems.
What is meant by Matrix Organization
Employees have 2 managers:
#1 Functional Manager
#2 Project Manager
What is Flattened Organization?
An organization that has removed one or more layers of management, creating better communication and faster business processes
On the curve of technology adoption, who are the users that are first to adopt a new technology?
Innovators
What are some emerging roles in IT?
All of the above:
- Social media specialist.
- Data/Business intelligence analyst.
- Cloud computing specialist.
Which of the following is Not an advantage of Outsourcing?
Easily negotiated contracts
What is SOX
SOX (Sarbanes-Oxley Act): Passed buy US Congress to protect investors from possible fraudulent accounting activities by corporate
What is HIPPA?
HIPPA (Health Insurance Portability & Accessibility Act): Federal law that sets national standard to protect medical records
What is FIRPA?
FIRPA (Family Education Rights & Private Act): Federal legislation protects the privacy of student personal identity info
What are the steps in the Systems Development Life Cycle (SDLC) Methodology?
#1 Preliminary Analysis
#2 Systems Analysis
#3 Systems Design
#4 Programming
#5 Test
#6 Implementation
#7 Maintenance
What are the 4 phases of RAD software development?
#1 Requirements Planning
#2 User Design
#3 Construction
#4 Cutover
What makes RAD different from Systems Development Life Cycle (SDLC)?
RAD involves the users heavily in design and gets working system rapidly, then modifying it
What are the advantages of Agile Methodology?
All of the above:
- A working version of the software is available at the end of each iteration
- A lot of emphasis is placed on quality over paperwork.
- Stakeholders get to see the product at the end of each iteration
What components make up the quality triangle?
#1 Time
#2 Quality
#3 Cost
What are some advantages of purchasing Software instead of Building it in-house?
It is available more quickly than building it yourself
What is Responsive Design?
A web design framework in which Web sites change size to fit the device of the user
What are Web Services?
All of the above:
- Applications and components that are already built
- The components can be used in development of other applications to speed up development time
- An example of a Web service is Google Maps API
What is the implementation Methodology in which the old system is stopped and the new system is implemented?
Direct Cutover
What is the implementation Methodology that smaller portions of functionality of a system are implemented one at a time?
Phased Implementation
What are 3 techniques for selecting strategic projects
#1 Focus on organizational goals
#2 Categorigize projects
#3 Perform a finacial analzye
What is Aigle Methodology?
Alterative to traditional projects managment, used in software developmemnt
What are 4 characteristics of Agile Methodology?
#1 Daily status meetings are held
#2 Small cross-functional teams are used
#3 Short-time frames incidents for each change
#4 Working projects is completed at the end of each integrated to stake holders
One example of Project 4?
Tablets used from Chili's that a customer can order and pay. It is interesting given that, it will decrease hiring employees.
What is Business Intelligence (BI)?
A software application used to analyze a raw data uses analytic processing
What is Data warehouse?
A large storage of data accumalated from wide range of source within a campany and used to guide managment decisions
What is ETL?
ETL (Extract, Tranform, Load): they are combined into one tool to pull data out of one database and place it in another process of reading data from database
What is Data Marts?
Small slices of the data warehouse have an enterprise waide depth which only pertains to a single department
What is Data Visualization?
Describes any effort to help people understand the signifigance of data by placing it visual constant
What is Open Source?
Software that is freely available and can be modified and redistributed
Adv: Low Cost, Can be modified
Dis: Difficult to use, Can be hacked
What is Cloud Computing?
Using a network of remote servers hosted on the internet to store, manage and process data rather than local server/personal computer
Adv: Reliable, Manageable, Strategic Edge
Dis: Not secure, Limited control, Vedor lock in
What is Entity?
A person, place, thing, transaction or event about which is started
What is Atribute?
(Field/Colum): Data elements associated with an entity
What is a Record?
A collection of related data elements
What is a Primary Key?
A field that uniqueness identities a given entity in a table
Describe each of the Information System (IS) 5 componets?
#1 Hardware
#2 Software
#3 Data
#4 People
#5 Process