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Business Flashcards

Marketing Chapter 7

_____ reflects the link between consumers’ demand for a company’s product and the company’s purchase of necessary inputs to manufacture or assemble that particular product. Derived demand
n B2B markets, _____ are firms that buy and reprocess products and services before selling them again to the next buyer. manufacturers
Which of the following is an example of a reseller? wholesaler
In terms of business markets, organizations like colleges that provide services to people in their care are classified as institutions.
With its estimated outlay of over $500 billion for fiscal year 2014, the Pentagon represents which type of B2B organization? government
Which of the following statements regarding the B2B buying process is true? In the B2B buying process, the search for information and evaluation of alternatives is more formal and structured.
The business-to-business buying process is initiated by which of the following steps? need recognition
he acronym RFP, when used by those involved in business-to-business buying, stands for request for proposals.
Used by many smaller companies to help streamline procurement or distribution processes, _____ is an Internet site whose purpose is to be a major starting point for users when they connect to the web. a web portal
In the B2B buying process, _____ can provide tremendous cost savings for firms because they eliminate periodic negotiations and routine paperwork, and offer the means to form a supply chain that can respond quickly to the buyer’s needs. web portals
In this stage of the business-to-business buying process, firms are likely to narrow their selection to a few suppliers, often those with which they have existing relationships, and discuss key terms of the sale. proposal analysis, vendor negotiation, selection
What is the final stage in the business-to-business buying process? vendor performance assessment
All of the following are one of the six buying center roles except advisor.
John is involved in the buying center of a large organization. He ultimately will determine whether to buy, what to buy, how to buy, or where to buy. What role does John play in this situation? decider
The individual who controls the flow of information or access to important decision makers serves as the _____ in the buying center. gatekeeper
Pharmaceutical companies have been criticized for direct-to-consumer television ads promoting the use of their brands of medication for specific medical conditions. With respect to buying centers, the pharmaceutical company plays the role of _____ in this situation. influencer
Although she wasn’t told this when hired, at her new job Dana noticed that the employees eat lunch at their desks while continuing to work and that on Fridays most everyone dresses casually. These behaviors are most likely part of the organizational culture.
A firm’s _____ reflects the set of values, traditions, and customs that guide its employees’ behavior. organizational culture
In a(n) _____ buying center, there may be many participants, but one person makes the decision alone. autocratic
In the ABC Automotive manufacturing company, one person is authorized to make a decision, but input from others is gathered before doing so. This is reflective of which type of buying center? consultative
At the Fancy Print Area Rug company, all members of the team must reach a collective agreement that they can support a particular purchase. This is reflective of a(n) ________ buying center. consensus
Autocratic buying centers are characterized by a single decision maker.
The ______________ social network has more than 400 million members worldwide, about 10 percent of whom are college students or recent graduates. LinkedIn
Although social media are used to build relationships in B2B contexts, the majority of B2B marketers use _____ for their marketing efforts. white papers
Most B2B buying situations can be categorized into three types: straight rebuys, modified rebuys, and new buys.
The purchase of capital equipment by a company, which would likely be quite an involved process, is an example of a _____ situation. new buy
At the Unique Photo Frame company, the buying center proceeds through all six steps in the buying process and involves many people in the buying decision. This is a ________ situation. new buy
The university will purchase new computers during the summer to update its computer labs. Although the new computers will be more advanced in terms of their technology, the purchase itself will involve some of the same considerations as those used for previous purchases. This is an example of which of the following types of buying situation? modified rebuy
When Kinko’s replenishes its supply of copy paper, it most likely involves a _____ situation. straight rebuy
Maurice is the buyer at the Upper End Clothing Company. He is often the only member of the buying center involved in the process. This is an example of a straight rebuy.
_____ reflects the link between consumers’ demand for a company’s product and the company’s purchase of necessary inputs to manufacture or assemble that particular product.A) Institutional purchasing demandB) DistributionC) Derived demandD) WholesalingE) Reselling demand C) Derived Demand
In B2B markets, _____ are firms that buy and reprocess products (a product is a good or service) before selling them again to the next buyer.A) manufacturersB) producersC) resellersD) institutionsE) governments A) Manufacturers
Which of the following is an example of a reseller?A) ManufacturerB) ProducerC) WholesalerD) InstitutionE) Government C) Wholesaler
In terms of business markets, organizations like hospitals that provide goods and services to people in their care are classified asA) manufacturers.B) producers.C) resellers.D) institutions.E) governments. D) Institutions
With its estimated outlay of $600 billion dollars for fiscal year 2011, the Pentagon represents which type of B2B organization?A) ManufacturerB) DistributorC) ResellerD) InstitutionE) Government E) Government
The business-to-business buying process is initiated by which of the following steps?A) The RFP processB) Need recognitionC) Proposal analysisD) Product specificationE) Vendor performance assessment B) Need recognition
The acronym RFP, when used by those involved in business-to-business buying, stands forA) Request For Pricing.B) Reorder For Products.C) Request For Products.D) Request For Proposals.E) Request For Performance. D) Request For Proposals
_____ is an entry point that is commonly used to find specific sites.A) A web hosting siteB) An intranetC) A web portalD) A micro blogE) A web link C) A web portal
In this stage of the business-to-business buying process, firms are likely to narrow their selection to a few suppliers, often those with which they have existing relationships, and discuss key terms of the sale.A) The RFP processB) Vendor specificationC) Product specificationD) Vendor performance assessmentE) Proposal analysis and supplier selection E) Proposal analysis and supplier selection
What is the final stage in the business-to-business buying process?A) RFP processB) Vendor performance assessmentC) Order specificationD) Need recognitionE) Proposal analysis and supplier selection B) Vendor performance assessment
John is involved in the buying center of a large organization. He ultimately will determine whether to buy, what to buy, how to buy, or where to buy. What role does John play in this situation?A) InitiatorB) InfluencerC) DeciderD) BuyerE) Gatekeeper C) Decider
The individual who controls the flow of information or access to important decision makers serves as the _____ in the buying center.A) userB) initiatorC) deciderD) influencerE) gatekeeper E) Gatekeeper
Pharmaceutical companies have been criticized for direct-to-consumer television ads promoting the use of their brands of medication for specific medical conditions. With respect to buying centers, the pharmaceutical company plays the role of _____ in this situation.A) initiatorB) influencerC) deciderD) buyerE) gatekeeper B) Influencer
A firm’s _____ reflects the set of values, traditions, and customs that guide its employees’ behavior.A) marketing strategyB) marketing planC) ethical climateD) demographicsE) organizational culture E) Organizational culture
In a(n) _____ buying center, there may be many participants, but one person makes the decision alone.A) autocraticB) consensualC) consultativeD) democraticE) republic A) Autocratic
In a(n) _____ buying center, one person is authorized to make a decision, but input from others is gathered before doing so.A) republicB) autocraticC) democraticD) consensualE) consultative E) Consultative
In _____ buying centers, all members of the team must reach a collective agreement that they can support a particular purchase.A) autocraticB) consensusC) consultativeD) democraticE) republic B) Consensus
Autocratic buying centers are characterized byA) a single decision maker.B) collective agreement.C) majority rule.D) the solicitation of many opinions.E) many decision makers. A) A single decision maker
Although social media is used to build relationships, in the B2B context, the majority of B2B marketers use _____ for their marketing efforts.A) FacebookB) TwitterC) LinkedinD) HootSuiteE) White papers E) White papers
Most B2B buying situations can be categorized into three types: new buys, straight rebuys, andA) standard rebuys.B) capital buys.C) modified rebuys.D) repeat buys.E) strategic buys. C) Modified rebuys
Franks Pizza oven is broken and Frank will need to buy a replacement. The purchase of capital equipment such as the ovenis an example of a _____ situation.A) straight rebuyB) standard rebuyC) modified rebuyD) new buyE) capital buy D) New buy
In a _____ situation, the buying center is likely to proceed through all six steps in the buying process and involve many people in the buying decision.A) straight rebuyB) standard rebuyC) modified rebuyD) new buyE) capital buy D) New buy
The University will purchase new computers during the summer to update its computer labs. Although the new computers will be more advanced in terms of their technology, the purchase itself will involve some of the same considerations as those used for previous purchases. This is an example of which of the following types of buying situation?A) Straight rebuyB) Standard rebuyC) Modified rebuyD) New buyE) Capital buy C) Modified rebuy
When Kinko’s replenishes its supply of copy paper, it most likely involves a _____ situation.A) new buyB) standard rebuyC) modified rebuyD) straight rebuyE) material buy D) Straight rebuy
In _____, the buyer is often the only member of the buying center involved in the process.A) new buysB) standard rebuysC) modified rebuysD) straight rebuysE) material buys D) Straight rebuys
Derived Demand Reflects the link between consumers’ demand for a company’s product and the company’s purchase of necessary inputs to manufacture or assemble that particular product.
Manufacturers (MISSED) In B2B markets, _____ are firms that buy and reprocess products and services before selling them again to the next buyer.
Wholesaler Which of the following is an example of a reseller?
Institutions In terms of business markets, organizations like hospitals that provide goods and services to people in their care are classified as ______________
Government With its estimated outlay of over $500 billion for fiscal year 2014, the Pentagon represents which type of B2B organization?
In the B2B buying process, the search for information and evaluation of alternatives is more formal and structured. Which of the following statements regarding the B2B buying process is true?
Need recognition The business-to-business buying process is initiated by which of the following steps?
request for proposals The acronym RFP, when used by those involved in business-to-business buying, stands for
web portal Used by many smaller companies to help streamline procurement or distribution processes, _____ is an Internet site whose purpose is to be a major starting point for users when they connect to the web.
web portals In the B2B buying process, _____ can provide tremendous cost savings for firms because they eliminate periodic negotiations and routine paperwork, and offer the means to form a supply chain that can respond quickly to the buyer’s needs.
Proposal analysis, vendor negotiation, selection In this stage of the business-to-business buying process, firms are likely to narrow their selection to a few suppliers, often those with which they have existing relationships, and discuss key terms of the sale.
Vendor performance assessment What is the final stage in the business-to-business buying process?
Advisor Which of the following is not one of the six buying center roles?
Decider John is involved in the buying center of a large organization. He ultimately will determine whether to buy, what to buy, how to buy, or where to buy. What role does John play in this situation?
gatekeeper The individual who controls the flow of information or access to important decision makers serves as the _____ in the buying center.
influencer (MISSED) Pharmaceutical companies have been criticized for direct-to-consumer television ads promoting the use of their brands of medication for specific medical conditions. With respect to buying centers, the pharmaceutical company plays the role of _____ in this situation.
organizational culture Although she wasn’t told this when hired, at her new job Dana noticed that the employees eat lunch at their desks while continuing to work and that on Fridays most everyone dresses casually. These behaviors are most likely part of the___________
organizational culture A firm’s _____ reflects the set of values, traditions, and customs that guide its employees’ behavior.
autocratic In a(n) _____ buying center, there may be many participants, but one person makes the decision alone.
consultative In a(n) _____ buying center, one person is authorized to make a decision, but input from others is gathered before doing so.
(MISSED) In _____ buying centers, all members of the team must reach a collective agreement that they can support a particular purchase.
single decision maker Autocratic buying centers are characterized by
Linkedin Which of the following social media tools is mainly used for professional networking in the B2B marketplace?
(MISSED) Although social media are used to build relationships in B2B contexts, the majority of B2B marketers use _____ for their marketing efforts.
modified rebuys Most B2B buying situations can be categorized into three types: new buys, straight rebuys, and ____________
new buy The purchase of capital equipment by a company, which would likely be quite an involved process, is an example of a _____ situation.
(MISSED) In a _____ situation, the buying center is likely to proceed through all six steps in the buying process and involve many people in the buying decision.
modified rebuy The university will purchase new computers during the summer to update its computer labs. Although the new computers will be more advanced in terms of their technology, the purchase itself will involve some of the same considerations as those used for previous purchases. This is an example of which of the following types of buying situation?
Straight rebuy When FedEx Office replenishes its supply of copy paper, it most likely involves a _____ situation.
straight rebuy In _____, the buyer is often the only member of the buying center involved in the process.
Categories
Business Flashcards

International Business Exam 1

Net Income (Sales Revenue – COGS – Expenses) * (1 – income tax rate)
Earnings per Share (EPS) Net Income/Shares Outstanding
Dividends per Share (DPS) EPS * Dividend Payout Rate
Return on Equity (ROE) Net Income / Equity
Addition to Retained Earnings Net Income – (Shares Outstanding * Dividends per Share)
Market Capitalization Shares Outstanding * Share Price
Share Price P/E Ratio * EPS
Debt/Asset Ratio Liabilities / Assets
Quick ‘n’ Dirty DCF Method Net Income / WACC
Equity Assets – Liabilities
The “triple bottom line” is an approach to assessing performance that emphasizes concern for: people, planet, profit
A health drink company is known for launching drinks with flavors that are different from what are offered in the market. It regularly indulges in experimentation to come up with new and exotic flavored drinks. It is also able to charge prices that are higher than what other health drink companies charge. What advantage would the company enjoy because of the strategy it follows? It has an ability to obtain premium prices from customers
The internet boom of the 1990s is an example of: Shumpterian Shock
A “3 firm concentration ratio of 80%” would mean: the industry is highly concentrated
An approach to assessing performance that targets managers’ attention on four areas: (1) financial, (2) customer, (3) internal business process, and (4) learning and growth is a tool called ________? balanced scorecard
Perceptual (or position) mapping is used to: a. identify strategic groups of competitorsb. identity “gaps” in the marketc. identify industry competitors’ position in the market
Strategy formulation, strategy implementation and _________ are the steps (or phases) in the strategic management process. strategy evaluation
The main question asked at corporate-level strategy is: What business(es) are we in/should we be in?
Sony’s and Apple’s ability to innovate to “reinvent” existing ways of doing things is known as _________. creative destruction
Which of the following models is used for analyzing the general external environment? PEST (or PESTEL)
What currencies are involved in affecting the operations of your company’s athletic footwear business? USD, Singapore dollars, EUR, Brazilian reals
What is the most important factor in determining a company’s unit sales and market share of private-label footwear in a particular geographic region? The company’s bid price
If you offer free shipping in the internet market, the shipping and handling fees that you will have to “absorb” is how much per pair of shoes? $10 per pair
What is true concerning mail-in rebates? The higher the rebate offer, the higher the redemption rate
What is true concerning the S/Q rating? A company may have as many as 8 different S/Q ratings in a year
A company uses outside suppliers to provide services that it could perform itself. (e.g. a firm might contract a professional cleaning company to come in on a regular basis to clean offices) outsourcing
Marketing efforts to increase sales of existing products in existing markets is in which concentration (intensive) grand strategy? Market Penetration
Exporting products made in the US to new foreign markets is a basic example of which (intensive) strategy? Market Development
What generic strategy is usually associated with the discount retailers such as Wal-Mart? Cost Leadership Strategy
A generic strategy aimed at emphasizing the uniqueness or superiority of products and services is _____? Differentiation Strategy
A sign in a store window reads, “going out of business – everything must go” is probably an example of which grand strategy? liquidiation
If Microsoft bought a chain of food retailers such as Piggly Wiggly, it would be an example of a _____. conglomerate diversification
Sony’s launches of PS2, then PS3, then PS4, is an example of which concentration (intensive) strategy? Product Development
If Dell Computer were to inquire Intel, it would best be described as an example of ______. Forward Vertical Integration
“Given the business(es) we are in, how should we compete?” is the question asked at the _____ level. Competitive (business) strategy
The sale of one of a firm’s SBUs to a competitor, and that SBU continues to operate is a ______. Divestiture
Dell Computer’s initial decision to start selling LCD wide-screen TVs is an example of ______. Retrenchment
If a company builds a new manufacturing plant dedicated to producing shoes for a region, and later decides to get out of that region, but can’t find a buyer for the plant, the manufacturing plant might be viewed as a(n) ______. Exit Barrier
When existing rivals in an industry do not act aggressively because of fear of retaliation, it is _______. (not on exam) Mutual Forbearance
Difficulties encountered by trying to “reposition” a brand in the market (e.g. moving “upscale”) are examples of a(n) _____? Mobility Barrier
The formation of HP/Compaq and Daimler/Chrysler are examples of which grand strategy? Horizontal Integration
A situation in which a firm faces the same rival in more than one market is ______. (not on exam) multipoint competition
Creating a new, untapped market rather than competing with rivals in an existing market is a(n) _______. Blue Ocean Strategy
What makes a competitive advantage sustainable or durable as opposed to temporary is: actions or elements in strategy that cause attractive number of buyers to have lasting reasons to buy company’s products/services, despite competitors’ best efforts to nullify or overcome those reasons
A winning strategy is one that: Helps the co. achieve a sustainable comp. advantage, results in better co. performance, and fits co.’s internal/external situation
A company’s strategy: Represents managerial commitment to undertake a set of actions rather than another in an effort to compete successfully and achieve good performance outcomes
Crafting an ethical strategy requires that managers Carefully/conscientiously consider whether each proposed strategy element can pass test of moral scrutiny in sense of not being shady, unconscionable, or injurious to others
The customer value proposition portion of a co.’s business model concerns: The company’s approach to satisfying buyer needs/requirements at price they will consider a good value
Good strategy combined with good strategy execution Are strongly correlated w/how well the co. performs both financially and in marketplace
The two crucial elements of a co.’s business model are Customer value proposition and profit proposition or “profit formula”
What are characteristics of an effectively-worded strategic vision statement? Graphic, forward-looking and directional, and focused
What is a good example of a well-stated strategic objective? Within 2 years, achieves costs per unit sold that are 10% below current industry average of $4.75/unit
The primary roles/obligations of a co.’s board of directors in the strategy-making, strategy-executing process include Critically appraising the co.’s direction, strategy, and business approaches and evaluating caliber of senior execs’ strategy-making and strategy-executing skills
What approach to objective-setting should definitely be avoided? Setting unspecific targets like maximize profits, reduce costs, become more efficient, or increase revenues
Business strategy, as distinct from corporate strategy, is Focused on forging actions and approaches to compete successfully and perform well in one specific line of business
A company’s strategic plan Lays out its future direction, business purpose, performance targets, and strategy – in other words, a strategic vision + mission + set of objectives + strategy = strategic plan
A set of “stretch” financial and strategic objectives Helps a company avoid ho-hum results
A company’s strategic vision Delineates management’s aspirations for the business, providing a panoramic view of “where we are going” and a convincing rationale for why this makes good business sense for the company
As a rule, the weaker the collective impact of competitive pressures associated with the five competitive forces, The easier it is for industry members to earn good profits and a nice return on investment
What instance are industry members subject to stronger competitive pressures from sub products? When subs are readily available, attractively priced, and have comparable or better attributes and performance features
Whether buyer bargaining power poses a strong or weak source of competitive pressure on industry members depends in part on Price sensitivity of buyers, whether buyer switching costs are high or low and how well informed buyers are about product offerings of industry members
Competitive pressures stemming from threat of entry are stronger when Pool of entry candidates is large and some have adequate resources to overcome entry barriers and combat defensive actions of existing industry
Factors that weaken the rivalry among competing sellers include Rapid growth in buyer demand, high buyer costs to switch brands, and so many industry rivals that any one co.’s actions have little impact on rivals’ businesses
Industry conditions change because forces in industry environment are enticing/pressuring certain industry participants (competitors/customers/suppliers) to alter their actions in important ways
The rivalry among competing sellers tends to be more intense when Industry members have too much inventory or significant amounts of idle production capacity, esp. if the industry’s product entails high storage costs or high fixed costs
The three best indicators of how well a company’s present strategy is working are whether: The company is achieving its stated financial and strategic objectives, is an above-average industry performer, and is gaining customers and market share
Two useful tools for determining whether a company’s customer value proposition, prices, and costs are competitive are: Value chain analysis and benchmarking
What is NOT a part of determining whether a co.’s prices/costs are competitive? Resource value analysis
When a company performs an activity quite well and that activity is central to its strategy and competitiveness, it is said to have: A core competence in performing that activity
In a weighted competitive strength assessment, the sum of the weights should add up to: 1.0
What are the five generic types of competitive strategy? a. low-cost provider (cost leadership)b. focused-differentiationc. best-cost providerd. broad differentiatione. focused low-cost
What are the dimensions of competitive scope? 1. geographic2. industry3. segment4. vertical(5) business model
The essence of a broad differentiation strategy is to Offer unique product attributes that a wide range of buyers find appealing and worth paying for
A company achieves best-cost provider status by Using its resources and capabilities to incorporate attractive upscale attributes at a lower cost than those rivals with comparable upscale product offerings
The chief difference between a broad differentiation strategy and a focused differentiation strategy is The size of the buyer group that a company is trying to appeal to – a broad differentiation strategy is aimed at many buyer groups and market segments and a focused differentiation strategy is aimed at appealing to the unique preferences and needs of a narrow well-defined group of buyers
The two biggest factors that distinguish one competitive strategy from another concern Whether a company’s market target is broad or narrow and whether the company is pursuing a competitive advantage linked to low costs or differentiation
Broad differentiation strategies are well-suited for market circumstances where There are many ways to differentiate the product or service that have value to buyers
Two major avenues for achieving a cost advantage over rivals are Revamping the firm’s value chain to eliminate or bypass some cost-producing activities and/or performing value chain activities more cost-effectively than rivals
The pitfalls of a differentiation strategy include Differentiating on the basis of attributes that produce an unenthusiastic response on the part of buyers (because they don’t perceive the differentiating features as valuable or worth paying for)
A broad differentiation strategy enhances profitability when A company is able to either keep the costs of achieving differentiation below the added price premium the differentiating attributes can command in the marketplace or else offset thinner profit margins per unit by selling enough additional units to increase total profits
A company’s competitive strategy is unlikely to result in good performance or sustainable competitive advantage unless The company has a competitively valuable collection of resource strengths, competencies, and capabilities and unless its strategy is predicated on leveraging use of these resources
A blue ocean type of offensive strategy Involves abandoning efforts to beat out competitors in existing markets and, instead, inventing a new industry or distinctive market segment that renders existing competitors largely irrelevant and allows a company to create and capture altogether new demand
What is not a potential advantage of backward vertical integration Reduced business risk because of controlling a bigger portion of the overall industry
Because when to make a strategic move can be just as important as what move to make, a company’s best option with respect to timing is To carefully weigh the first-mover advantages against the first-mover disadvantages and act accordingly
The two best reasons for investing company resources in vertical integration (either forward or backward) are to Strengthen the company’s competitive position and/or boost its profitability
What is an example of an offensive strategy? Pursuing disruptive product innovation to create new markets
For backward vertical integration into the business of suppliers to be a viable and profitable strategy, a company Must be able to achieve the same scale economies as outside suppliers and match or beat suppliers’ production efficiency with no drop-off in quality
What is not a typical strategic objective or benefit that drives mergers and acquisitions? To facilitate a company’s shift from one competitive strategy approach to another
The best strategic alliances Are highly selective, focusing on particular value chain activities and on obtaining a particular competitive benefit; they tend to enable a firm to build on its strengths and learn
A strategic alliance is a collaborative arrangement where two or more companies join forces to achieve mutually beneficial outcomes
What is not a typical reason that many alliances are short-lived or break apart?a. Disagreement over how to divide the profits gained from joint collaborationb. An inability to work well togetherc. The emergence of more attractive technological pathsd. Diverging objectives and prioritiese. Changing conditions that render the purpose of the alliance obsolete Disagreement over how to divide the profits gained from joint collaboration
What are the 5 measures a company’s performance is scored/judged? EPS, ROE, image rating, credit rating, stock price
The market for private-label footwear is projected to grow: 10% annually for Year 11-15 and 8.5% for Year 16-20 in all 4 regions
The market for branded footwear is projected to grow: 9-11% annually in LA and AP during Year 11 – 15 and 5-7% annually in NA and EA during Year 11 – 15
What is the most important factor in determining a company’s unit sales and market share of private-label footwear in a particular geographic region? the company’s bid sales
The company’s shipments of newly-produced branded and private-label footwear from its plants to its regional distribution centers are subject to Any applicable import tariffs and exchange rate adjustments
At the end of Year 10, going into Year 11, the company’s production capability was 6 million pairs without the use of overtime and 7.2 million pairs with the use of overtime
The interest rate a company pays on loans outstanding depends on its credit rating
A footwear-maker’s price competitiveness in selling branded footwear to retailers in a particular geographic region is determined by Whether its wholesale price is above or below the average wholesale price of all companies competing in that region
The factors that affect S/Q rating are: Percentage use of superior materials, company’s cumulative spending for TQM/Six Sigma quality control programs, use of best practices training, expenditures for new styling/features per model
What are the components of the compensation package for production workers at your company’s plant? Base wages, incentive payments per non defective pair produced, and overtime pay
What are the factors in determining credit rating? Debt to assets ratio, default risk ratio, interest coverage ratio
What are factors determining a company’s unit sales and market share of branded footwear in a particular geographic region? Advertising expenses, mail-in rebate offers, model availability, delivery times
What action is not an attractive option for trying to lower production costs per pair produced at one of your company’s plants?a. Reducing use of superior materialsb. Reducing number of branded models/styles produced from 350 to 250c. Installing plant upgrade option Dd. Increased spending for enhanced styling and features for branded footweare. Increasing piecework incentive pay Increased spending for enhanced styling and features for branded footwear
What is not a way to effectively differentiate a company’s branded footwear offering from the brands of rivals?a. Offer a higher rebate than most all other rivalsb. Spend more on advertising than most all other rivalsc. Produce/market branded footwear with a higher S/Q rating than that of rivalsd. Offer a wide variety of models/styles than rivalse. Achieve a lower reject rate on pairs produced than rivals Achieve a lower reject rate on pairs produced than rivals
The plant and production benchmarking cost data of each issue of the Footwear Industry Report Provide managers with solid evidence regarding the degree to which various costs at the company’s plants are competitive with the costs at the plants of rival companies
The benefits of pursuing a strategy of social responsibility and corporate citizenship include Positive impact that such a strategy can have on the company’s image rating if the company spends a meaningful amount on socially responsible activities over a multi-year period
What are effective ways to try to boost a company’s stock price? Strive to increase earnings per share each year, raise the company’s dividend each year (ideally by at least $0.05 per share), and repurchase shares of common stock
What is not a way to improve the S/Q rating of branded pairs produced at a particular plant?a. Increase percentage use of superior materialsb. Increase expenditures for enhanced styling/featuresc. Increase expenditures for TQM/Sig Sigma programsd. Increase expenditures for best practices training for the plant’s work forcee. Increase the number of models/styles produced Increase the number of models/styles produced
According to Porter’s “5 Forces” model, for a firm looking to enter an industry, a weak force is BEST regarded as a(n) opportunity
What is often included as a sixth force when using the five forces model?a. Threat from gov’t forcesb. Threat from complementorsc. Threat from monopoliesd. Bargaining power of monopolies Threat from complementors
What are Porter’s 4 dimensions of competitive scope discussed in class? Geographic, industry, segment, vertical (business model for this class)
Although Michael Porter is known as an IO economist and for his work concerning industries, his ___ model allows for competitive advantage to be gained through uniqueness, with forms following a ___ strategy. generic strategies; differentiation
What are the strategies identified in Porter’s generic strategies model? differentiation, focused differentiation, cost leadership, focused cost leadership
What are Rumelt’s criteria for strategy evaluation? feasibility, consistency, consonance, and advantage
What labels go with the designated areas in Kotler’s “Total Product Concept” model? 1. Outer circle: Augmented product2. Middle Circle: Actual product3. Inner Circle: Core product
What do the letters V-R-I-O stand for in the VRIO framework (concerning a firm’s resources)? ValueRareImitableOrganization
Model used for benchmarking your firm against competitors based on specific performance measures. What is the name given to these performance measures (i.e. location, destinations, entertainment, facilities, etc.)? Critical success factors (key success factors)
What are the names given to the quadrants in the model shown? (market segment overlap on y-axis, strategic similarity on x-axis) (ranked low-high on both axes)? Quadrant 1: maverick competitorsQuadrant 2: clone competitorsQuadrant 3: parallel competitorsQuadrant 4: (crossed out, off-radar competitors)
A company produces fat-free and low-fat snacks under the brand name Healthy Bites. The firm decides to set up counters in the retail stores which stock its products, with reps who will promote the products and explain its health benefits to consumers. The firm aims to increase the sale of Healthy Bites products in these stores. In this example, what best describes the company’s strategy?a. Market penetrationb. Product developmentc. Related diversificationd. Horizontal integratione. Backward vertical integration a. Market penetration: use existing product to increase sales in an existing market
The following info is given for the company in 2016. What is their net income?a. Revenues: $100kb. Cost or raw materials: $5kc. Labor expense: $70kd. Selling/Admin expenses: $15ke. Income tax: 0f. Total assets: $10kg. Total liabilities: $2kh. Earnings per share: $2.00i. Share price: $10 = $10,000 $100k – $90k (cost of raw materials, labor, selling/admin)
The four categories of grand strategies are Intensive (concentration), integration, diversification, defensive
Name the four economists from the class discussion and what they’re known for: Adam Smith: invisible hand, wealth of nations, free-marketKarl Marx: communismSchumpeter: creative destruction, Schumpeterian shocksKeynes: Keynesian economics (government spending)
Comfort Shoes is a firm that manufactures shoes and sells them at retail stores in NY. Based on popularity, the firm decides to open an outlet in NJ to sell the existing line of shoes. In this example, they’re using what strategy? Market development (existing products and introducing to new markets) [Would be vertical integration if they weren’t in retail stores]
The letters in the S-C-P paradigm stand for Structure (determines conduct)Conduct (determines performance)Performance
Forces that inhibit movement of firms from one strategic group to another are known asa. Gausian principlesb. Schumpeterian shocksc. Critical success barriersd. Parallel inhibitorse. None of these e. None of these (mobility barriers)
A skill or activity in which a firm excels compared to rival firms is known as a(n)a. Generic strategyb. VRIO propositionc. Distinctive competenced. Focused differentiatione. None of the above c. Distinctive competence (do better than competitors)
A company mfg. hockey sticks makes an annual assessment of its resources in terms of raw materials, technical expertise, and technological know-how. It assesses the type of competition that it faces in the market and also looks out for opportunities that would allow it to expand its business. This is an example of: SWOT analysis
Which of the following statements about the SWOT analysis is accurate?a. SWOT analysis is a rigorous method for selecting strategiesb. SWOT analysis is a brainstorming technique for generating creative ideasc. SWOT analysis is useful for identifying a business’s closest competitorsd. SWOT analysis examines the situations faced by the competitors in an industry.e. SWOT analysis is routinely used for identifying strategic groups within an industry b. SWOT analysis is a brainstorming technique for generating creative ideas
What are the three levels of strategy and what question is asked at the top two levels? a. Corporate level: what businesses are we winb. Competitive level (aka business level): given what we’re in, how should we compete?c. Functional level: what must we do to implement chosen strategies?
What question is asked at the corporate level? What businesses are we in?
What question is asked at the competitive level (business level)? Given what we’re in now, how should we compete?
What question is asked at the functional level? What must we do to implement chosen strategies?
What is true concerning mail-in rebates? Higher the rebate offers, the higher the redemption rate
What is not a distribution channel available in the game?a. Wholesale sales to independent footwear retailersb. Online sales to consumers in company’s web sitec. Private-label sales to large multi-outlet retailersd. Retail sales at the company’s stores in outlet mallse. All available d. Retail sales at the company’s stores in outlet malls
What is a result of worker training in the simulation?a. Lower defect ratesb. Improves s/q ratingc. Reduces materials wasted. Increases worker productivitye. All of the above may result from worker training e. All of the above may result from worker training
In the game, your company is assessed on how well it meets investor expectations in five categories on a “balanced scorecard”. What are these five categories? EPS, ROE, Stock Price, Credit Rating, Image Rating
A company’s strategy consists of the competitive moves and business approaches that managers employ to attract and please customers, compete successfully, capitalize on opportunities to grow the business, respond to changing market conditions, conduct operations, and achieve the targeted financial and market performanc the competitive moves and business approaches that managers employ to attract and please customers, compete successfully, capitalize on opportunities to grow the business, respond to changing market conditions, conduct operations, and achieve the targeted financial and market performance
What is a company’s most reliable ticket for winning a competitive advantage over rivals? A creative, distinctive strategy that sets a company apart from rivals and delivers superior value to customers
A company achieves competitive advantage when an attractive number of buyers are drawn to purchase its products or services rather than those of competitors
A company achieves sustainable competitive advantage when the basis for buyer preferences for its product offering relative to the offerings of its rivals is durable, despite competitors’ efforts to nullify or overcome the appeal of its product offering the basis for buyer preferences for its product offering relative to the offerings of its rivals is durable, despite competitors’ efforts to nullify or overcome the appeal of its product offering
To meet the standard of being ethical, a strategy must… entail actions that can pass moral scrutiny in the sense of not being shady, unconscionable, or injurious to others.
A winning strategy must… fit the enterprise’s external and internal situation, help build sustainable competitive advantage, and improve company performance
A strategic vision describes the route a company intends to take in developing and strengthening its business. It lays out the company’s strategic course in preparing for the future
A well-conceived vision statement clearly conveys a company’s long-term direction and says something definitive about what top executives want the company’s product-market-customer-business makeup to be in three to five (or more) years
What should you do when wording a vision statement? Be graphic, forward-looking and directional, focused, have some wiggle room, ensure the journey is feasible, indicate why the directional path makes good business sense, and make it memorable
What should you NOT do when wording a vision statement? Don’t be vague or incomplete, dwell on the present, use overly broad language, state the vision in bland or uninspiring terms, be generic, rely on superlatives, or run on and on
The distinction between a strategic vision and a mission statement is: A strategic vision sets forth a company’s future direction (“where we are going”), whereas a company’s mission statement describes its present business scope and purpose (“who we are, what we do, and why we are here”)
A company’s values or core values are the beliefs, traits, and behavioral norms that company personnel are expected to display in conducting the company’s business and pursuing its strategic vision and mission.
Objectives are an organization’s performance targets—the results and outcomes management wants to achieve. They function as yardsticks for measuring how well the organization is doing
Financial objectives… relate to the financial perfor-mance targets management has established for the organization to achieve
Strategic objectives… relate to target outcomes that indicate a company is strengthening its market standing, competitive vitality, and future business prospects.
A balanced scorecard is a widely used method for combining the use of both strategic and financial objectives, tracking their achievement, and giving management a more complete and balanced view of how well an organization is performing.
A company exhibits strategic intent when it relentlessly pursues an ambitious strategic objective, concentrating the full force of its resources and competitive actions on achieving that objective.
A company’s strategic plan… lays out its future direction, business purpose, performance targets, and strategy
What are the five outer-ring components of a company’s macro-environment? 1. general economic conditions2. political, legal, and regulatory influences3. technological influences4. sociocultural forces (values, lifestyles, shifting population demographics)5. considerations relating to the natural environment
Strategic group mapping is a technique for displaying the different market positions that rival firms occupy in the industry
A strategic group is a cluster of industry rivals that employ similar competitive approaches, have product offerings that appeal to similar types of buyers, and thus occupy similar market position
Key success factors are the strategy elements, product attributes, resource strengths, competitive capabilities, and market achievements with the greatest impact on future competitive success in the marketplace
A company’s resource strengths represent its competitive assets and are big determinants of its competitiveness and ability to succeed in the marketplace.
A company has a competence in performing an activity when, over time, it gains the experience and know-how to perform an activity consistently well and at acceptable cost
A core competence is an activity that a company performs quite well and that is also central to its strategy and competitiveness
A core competence is a more important resource strength than a competence because it adds power to a company’s strategy and has a bigger positive impact on its competitive strength and profitability.
A distinctive competence is a competitively important activity that a company performs better than its rivals—it thus represents a competitively superior resource strength
What are the three steps of SWOT analysis? Identify, draw conclusions, translate into strategic action
A company’s value chain identifies the primary activities it performs that create customer value and the related support activities.
What are the outputs of an organization’s value chain activities? the value delivered to customers and the resulting revenues it collects.
What are the inputs of an organization’s value chain activities? all of the resources required to conduct the various value chain activities; use of these resources creates costs
Benchmarking is a potent tool for learning which companies are best at performing particular activities and emulating their techniques to improve the cost and effectiveness of a company’s own internal activities
High overall weighted strength scores signal a high degree of competitiveness and ability to compete successfully
A company’s competitive strength scores pinpoint its strengths and weaknesses against rivals and point directly to the kinds of offensive/defensive actions it can use to exploit its competitive strengths and reduce its competitive vulnerabilities.
What are the three timings of a company’s strategic moves in the marketplace? first mover, fast-follower, late-mover
The purpose of a strategic offensive is to improve its market position, build competitive advantage, widen an existing advantage, or narrow the advantage held by a strong competitor (blue ocean is an example)
Good defensive strategies can help protect competitive advantage and market position but rarely are the basis for creating it
What are some defensive strategies? blocking the avenues open to challengers, signaling challengers that retaliation is likely
Backward vertical integration involves entry into activities performed by suppliers or other enterprises positioned in earlier stages of an industry’s overall value chain.
Forward vertical integration involves entering into the performance of industry value chain activities located closer to end users.
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CHAPTER 6: BUSINESS LAW (TRUE/FALSE)

1. Tort law provides remedies for acts that cause damage to property. True
2. Through tort law, society compensates those who inflict injuries on others. False
3. The most widely used defense in negligence actions is consent. False
4. The bases of all torts are wrongs and compensation. True
5. The purpose of tort law is to provide remedies for the violation of various protected interests. True
6. A successful defense releases the defendant from liability for a tortious act. True
7. A tortfeasor is one who wrongfully alleges that a tort has been committed. False
8. To commit an intentional tort, a person must have an evil or harmful motive. False
9. False imprisonment occurs when a person restrains another intentionally and without justification. True
10. Defense of others is a defense to an allegation of assault. True
11. Moral pressure constitutes false imprisonment. False
12. Defense of others is a defense to an allegation of battery. True
13. Fraud occurs only when there is justifiable reliance on a true statement. False
14. For fraud to occur, seller’s talk must be involved. False
15. A defamatory statement must be communicated to a third party to be actionable. True
16. An individual’s privacy is invaded if his or her likeness is used for commercial purposes without permission. True
17. Legitimate competitive behavior is a permissible interference with a contractual relationship even if it results in a breaking of the contract. True
18. Unintentionally causing a party to break a contract may constitute wrongful interference with a contractual relationship. False
19. If it can be shown that a trespass to land was warranted, a complete defense exists. True
20. The taking of electronic records and data can form the basis of a conversion claim. True
21. Disparagement of property is a general term for the specific tort of appropriation. False
22. Conversion is limited to theft. False
23. Specifically targeting the customers of a competitor is always a legitimate business practice. False
24. Failure to live up to a standard of care may be an act or an omission. True
25. To avoid liability for negligence, a business owner must protect its customers against All risks. False
26. Only persons who are explicitly invited onto a business’s premises are considered business invitees. False
27. Some risks are obvious but, with respect to the duty of care required to establish negligence, a warning is always necessary. False
28. Under the theory of negligence, the duty of care requires an intentional act. False
29. If no harm results from an allegedly negligent act, there is no liability. True
30. Proximate cause exists when the connection between an act and an injury is strong enough to justify imposing liability. True
31. Harm must be foreseeable to be considered the proximate cause of an injury in negligence. True
32. A plaintiff who voluntarily enters into a risky situation, knowing the risk involved, will be allowed to recover for any consequent injury. False
33. Under the doctrine of comparative negligence, only the plaintiff’s negligence is taken into consideration. False
34. A defense available in an action based on a negligence theory is that the plaintiff failed to prove one or more of the required elements. True
35. A person assumes all risks associated with any activity in which he or she participates. False
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Quiz 2

This type of e-mail account is more widely used because it frees the user from installing and maintaining an e-mail client on every computer used to access e-mail. Web based
Launched in 1969 as a U.S funded project that developed a national computer network, the Internet was initially called _______. ARPANET
This social networking site is used for professional, business-oriented networking. LinkedIn
The continuing development of the Internet that allows everyday objects imbedded with electronic devices to send and receive data over the Internet. IoT
In the URL “http://www.simnetonline.com”, what is the domain name? www.simnetonline.com
Twitter is an example of what type of site? Microblog
This version of the web evolved to support more dynamic content creation and social interaction. Web 2.0
This type of e-commerce often resembles the electronic version of the classified ads or an auction. C2C
Online banking is an example of what type of e-commerce? B2C
For browsers to connect to resources on the Internet, the location of the resources must be specified through addresses called _______. uniform resource locators (URLs)
Programs that automatically start and operate as a part of your browser are called _______. plug ins
_______ typically broadcast live events and use streaming technology in which audio and video files are continuously downloaded to your computer while you are listening to and/or viewing the content. Webcasts
This method of file transfer distributes file transfers across many different computers. BitTorrent
The Web was introduced in _______. 1991
This method of file transfer has been used for decades and is frequently used for uploading changes to a website hosted by an Internet service provider. FTP
These special programs continually look for new information and update the databases used by search services. Spiders
The Internet is a(n) _______ made up of wires, cables, satellites, and rules for exchanging information between computers connected to the network. physical network
A web page typically contains _______, which contains the formatting instructions for displaying the web page. Hypertext Markup Language (HTML)
Parents can use this type of program to block access to selected Websites. Filter
Which of the following is not one of the three basic components of cloud computing? wireless connectivity
_______ do not use streaming technology and are used to download media files to your computer. Podcasts
The most common way to access the Internet is through _______. an internet service provider (ISP)
When you enter a keyword or phrase into a search engine the results display as a list of these. Hits
Which of the following are files inserted into an HTML document that control the appearance of web pages including layout, colors, and fonts? CSS
In the URL “http://www.simnetonline.com”, “.com” is the _______. top level domain (TLD)
Which programming language is used within HTML documents to trigger interactive features? Javascript
Which of the following is a website specially designed to allow visitors to use their browser to add, edit, or delete the site’s content? Wiki
Which of the following is not a well-known Web browser? Windows Explorer
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ISYS exam 4

In​ 2015, __________ million Americans purchased something online.A.171B.50C.150D.100E.199 A
E-commerce began in​ ________ when Netscape earned their first online advertisement from a major corporation.A.1995B.2001C.1987D.2000E.1990 A
Among the eight unique features of​ e-commerce, which is related to the ability to interact with web technology​ everywhere?A.UbiquityB.RichnessC.Universal StandardsD.Global ReachE.Interactivity A
Among the eight unique features of​ e-commerce, which is related to a consumer being engaged with an immersive multimedia​ experience?A.UbiquityB.InteractivityC.Universal StandardsD.Global ReachE.Richness E
The benefit of a consumer being able to look online to find a variety of different prices for the same product is called​ ___________________.A.information densityB.cost transparencyC.price transparencyD.price checkE.global scale C
The benefit of a consumer being able to look online to determine the actual cost a business pays for products is called​ ________________A.price transparencyB.information densityC.E-tailingD.cost transparencyE.global scale D
If two people are trading coins and one has far more knowledge about the hobby than the​ other, this is called​ _________________.A.price transparencyB.E-tailingC.knowledge managementD.information asymmetryE.information density D
The San Francisco Giants sell tickets based on​ ____________, where the prices often change based on demand and other variables.A.knowledge managementB.price transparencyC.dynamic pricingD.information asymmetryE.menu costs
Which of the following businesses uses the content provider Internet business​ model?A.AmazonB.FacebookC.GoogleD.eBayE.iTunes E
Which of the following businesses uses the portal Internet business​ model?A.GoogleB.eBayC.FacebookD.AmazonE.Expedia A
Twitter and Facebook are both examples of the​ _____________ Internet Business Model.A.PortalB.Transaction brokerC.Community providerD.Market creatorE.E-tailer C
Micropayment systems allow for high​ volume, low cost transactions. ​ __________ is considered the largest micropayment system in the world.A.AppleB.GoogleC.DellD.MicrosoftE.Yahoo! A
Paying an online journal a monthly fee for access to its content is called the​ __________ model.A.freemium revenueB.affiliate revenueC.transaction fee revenueD.subscription revenueE.Google revenue D
Sending customers to a website for a referral fee is called the​ _____________ model.A.Subscription revenueB.affiliate revenueC.freemium revenueD.Google revenueE.transaction fee revenue B
Businesses retailing products and services directly via the Internet to individual consumers best describes​ ________.A.M-commerceB.C2C electronic commerceC.B2C electronic commerceD.B2B electronic commerceE.disintermediation C
Which is eBay an example​ of?A.B2C electronic commerceB.M-commerceC.An online exchangeD.C2C electronic commerceE.A​ click-and-mortar business D
Which of the following statements is FALSE regarding​ Pandora’s Internet business​ model?A.By attracting many​ users, Pandora was able to line up enough advertisers.B.Pandora added a​ “Buy” button to each song and struck deals with Amazon and iTunes to download songs.C.Pandora offered 40 hours of music free per month.D.Pandora attracted new users by allowing them to download music for free.E.Pandora allowed users to sign up for a premium service offering unlimited usage. D
The social commerce feature that includes a stream of events to create a history for friends to view​ is/are called​ ______________.A.Network notificationB.timelinesC.Social​ sign-onD.Social searchE.Newsfeed B
The social commerce feature that enables a consumer to log into sites through Facebook is called a​ ___________________.A.network notificationB.Social searchC.TimelineD.NewsfeedE.Social​ sign-on E
_______ refers to the tracking of individuals on thousands of websites for the purpose of understanding their interests and intentions.A.Website personalizationB.Prediction marketingC.Behavioral targetingD.Social network marketingE.Long tail marketing C
Which of the following is FALSE about Electronic Data Interchange​ (EDI)?A.About​ 80% of online B2B commerce is based on EDI.B.Standards define the structure and information fields of electronic documents.C.EDI supports the automatic transmission of transactions from one information system to another through a network.D.EDI is a​ computer-to-computer exchange between two organizations of standard transactions such as invoices.E.EDI is a larger firm using a secure website to link to its suppliers and other key business partners. E
Tools that record customer activities at websites and store them in a log for further analysis are called​ ________.A.personalization toolsB.customer tracking toolsC.Filtering toolsD.clickstream tracking toolsE.collaborative filtering tools D
Kickstarter.com is a popular​ _______________ site where​ start-up companies’ ideas are presented to perspective investors.A.loud crowdB.social shoppingC.crowdsourcingD.clickstreamE.social media C
_______ services can tell you the price of a house you are looking at or about special exhibits at a museum you are passing.A.Location-basedB.Geo positioningC.Geo socialD.Geo advertisingE.Geo information E
Which is NOT one of the phases in the timeline for the development of an​ e-commerce presence?A.Mobile implementationB.Website developmentC.PlanningD.Social media implementationE.Web implementation A
The stage of the​ decision-making process where identifying and exploring potential solutions takes place is in the​ ____________ phase.A.IntelligenceB.SolutionC.ChoiceD.DesignE.Implementation D
The quality dimension of the​ decision-making process that addresses the ability to articulate the solution is called the​ ____________ dimension.A.Due ProcessB.AccuracyC.CoherenceD.FairnessE.Comprehensiveness C
The quality dimension of the​ decision-making process that addresses the resources of affected parties is called the​ __________ dimension.A.FairnessB.Due ProcessC.ComprehensivenessD.SpeedE.Coherence D
Which of the following BEST describes a pivot​ table?A.A chart tool that can rotate columnar data quickly and visually.B.A type of relational database.C.A graphical display of summarized data.D.A spreadsheet tool that displays two or more dimensions of data in a convenient format.E.A tool for performing sensitivity analysis. D
Business intelligence​ (BI) differs from Business analytics​ (BA) because BA focuses more on​ ___________________________.A.data managementB.tools and techniques for analyzing data.C.SQLD.integratingE.data warehousing B
Which is an essential component in the capability of GDSS to contribute to a collaborative​ environment?A.Allows users to contribute simultaneouslyB.Identifies users informallyC.Guarantees user anonymityD.Allows users to organize and evaluate ideasE.Uses structured methods for evaluating ideas C
Stakeholder identification and analysis tools in a​ GDSS:A.record group agreement on definitions of words and terms central to the projects.B.provide structured methods for evaluating ideas.C.facilitate the organized integration and synthesis of ideas generated during brainstorming.D.allowing users to contribute simultaneously.E.aid the organizers in​ pre-meeting planning by identifying issues of concern. B
_________________ reports allow users to enter several variables​ (i.e., region and​ date) to produce a decision making report.A.IntegratedB.Drill downC.PredictiveD.ParameterizedE.Inductive D
_____________ analytics has been used by companies like FedEx to determine the impact of price changes on sales.A.IntegratedB.CaseC.ParameterizedD.InductiveE.Predictive E
Some healthcare facilities create maps to visually show where health risks like RSV are concentrated. This is an example of a​ ______________ information system.A.countryB.geodesicC.geographicD.mapE.case C
The balanced scorecard method is based on​ __________ dimensions of a​ firm’s performance.A.threeB.sixC.fourD.fiveE.two C
Which of the following is NOT a step in how​ case-based reasoning​ works?A.The system asks the user additional questions to expand the database search.B.Users describe the problem.C.The system stores the problem and the successful solution in the database.D.The system finds the closest fit and retrieves the solution.E.The system searches a database for similar cases. A
The purpose of​ a/an _________ system is to capture best practice solutions and program them into a set of rules in a software program.A.learningB.knowledgeC.amateurD.expertE.hybrid D
_______________ are unique because the technology is based on the human brain and focuses on pattern recognition from large data sets.A.Learning management systemsB.Structured systemsC.Neural NetworksD.Database management systemsE.Knowledge management systems C
_______________ work by creating a binary strings​ (e.g., 0s and​ 1s) to find optimal solutions based on a large number of possibilities.A.Learning management systemsB.Genetic algorithmsC.Structured systemsD.Knowledge management systemsE.Neural Networks B
Software programs that help with repetitive and predictable tasks​ (i.e., Apples​ Siri) are called​ a/an ___________________.A.wisdom agentB.learning agentC.intelligent agentD.knowledge agentE.genetic agent C
Organizations have institutional knowledge that needs to be​ stored, transferred, and applied as part of a​ _______________ strategy.A.learning managementB.wisdom managementC.transfer managementD.intelligent managementE.knowledge management E
If a business​ doesn’t have a full time training​ staff, they can turn to MOOCs which stands for​ _____________________.A.massive open online coursesB.meaningful online coursesC.meaningful online operations coursesD.massive online open coursesE.mandatory online open classes A
Disney’s Epcot Center has​ ______________ systems that use interactive graphics software to simulate​ real-life experiences to both entertain and educate visitors.A.fuzzy logicB.neuralC.learning managementD.expertE.virtual reality E
Which of the following statements does NOT apply to how Procter​ & Gamble​ (P&G) used intelligent agent technology to make its supply chain more​ efficient?A.It modeled a complex supply chain as a group of semiautonomous​ “agents.”B.The behavior of each agent is programmed to follow rules that mimic actual behavior.C.The intelligent agents searched for information on the Internet.D.Simulations using the agents enable the company to perform​ what-if analyses.E.Each agent represents individual supply chain​ components, such as​ trucks, production​ facilities, distributors, and retail stores. C
Knowledge that already exists inside a firm in the form of formal reports or presentations is categorized as​ ________.A.explicit knowledgeB.tacit knowledgeC.​semi-structured knowledgeD.unstructured knowledgeE.structured knowledge E
Knowledge that resides in the minds of employees that has NOT been documented is called​ ________.A.standard operating proceduresB.structured knowledgeC.corporate cultureD.tacit knowledgeE.organizational memory D
A(n) ________ system has capabilities for​ classifying, organizing, and managing knowledge and making it available throughout the enterprise.A.enterprise content managementB.expert systemC.database management systemD.neural networkE.genetic algorithm A
Which of the following is a popular social bookmarking​ site?A.iTunesB.eBayC.FacebookD.DeliciousE.Google D
Fuzzy​ logic, expert​ systems, and​ case-based reasoning are all​ _______ used with decision making.A.inference enginesB.structured decision systemC.group decision support systemsD.intelligent techniquesE.executive support systems D
The testing process that focuses on individual computer programs is called​ _________________.A.beta testingB.acceptance testingC.formative testingD.unit testingE.system testing D
The plan for unit​ testing, system​ testing, and acceptance testing is called​ ____________.A.a test planB.unit testingC.beta testingD.formative testingE.alpha testing A
Implementing a new system into an organization module by module is called a​ ____________.A.parallel strategyB.phased approachC.direct cutover strategyD.pilot studyE.module strategy B
The most bold and risky implementation strategy is the​ _______________ approach.A.module strategyB.direct cutover strategyC.parallel strategyD.phased approachE.waterfall strategy B
The​ ___________________ is the most commonly used methodology for building information systems.A.entity relationship diagram​ (ERD)B.systems development life cycle​ (SDLC)C.data flow diagram​ (DFD)D.direct cutover strategy​ (DCS)E.ADDIE model B
A/an ________________________ is a document provided to potential external vendors allowing the vendor to compete with a proposal.A.invoiceB.statement of cash flowsC.balance sheetD.request for proposal​ (RFP)E.grant D
In the Girl Scouts​ case, they​ _______________ the project to Accenture and Hybris as opposed to building the system internally.A.co-developedB.up-sourcedC.outsourcedD.offshoredE.invoiced C
Given the variety of devices individuals use to visit websites​ (i.e., desktops,​ tablets, and​ smartphones), _____________ web design enables a website to change automatically to fit a device.A.responsiveB.waterfallC.smartD.morphE.blip A
A(n) __________ app such as Kindle is specifically designed to run on a specific platform and device.A.smartB.responsiveC.HTMLD.homeE.native E
In a dataflow diagram​ (DFD), a(n)​ ___________ portrays the transformation of data.A.square boxB.rounded boxC.circleD.open rectangleE.triangle B
In a dataflow diagram​ (DFD), a/an​ ___________ represent data stores.A.square boxB.circleC.open rectangleD.triangleE.rounded box C
A​ ___________ chart is a​ top-down chart that orients the project in terms of levels of​ design, and its relationship among levels.A.PERTB.ScopeC.GanttD.WaterfallE.Structure E
An entire information system is broken down into its subsystems by​ using:A.structure charts.B.process specifications.C.low-level data flow diagrams.D.Gantt and PERT charts.E.high-level data flow diagrams. E
Object-oriented modeling is based on which​ concepts?A.Class and inheritanceB.Objects and relationshipsC.Process specificationsD.Classes and objectsE.Objects and inheritance A
Which of the following is a correct characteristic of Object Oriented​ development?A.It rigorously specifies the processes or transformations that occur within each moduleB.It involves translating the design into program code.C.It separates data from processes.D.It partitions a system into modules that show manageable levels of process detailE.It is more iterative and incremental. E
Object-oriented development could potentially reduce the time and cost of writing software​ because:A.object-oriented programming is iterative.B.object-oriented programming requires less training.C.objects are reusable.D.iterative prototyping is not required.E.a single user interface object can be used for the entire application. C
A systems building approach in which the system is developed as successive​ versions, each version reflecting requirements more​ accurately, is described to be​ ________.A.structuredB.end-user orientedC.progressiveD.object orientedE.iterative E
The acronym CASE stands for​ _______________________, which provides software tools to automate the systems design process.A.​computer-aided software excellenceB.computer-assisted systems environmentC.computer-assisted systems excellenceD.computer-aided systems environmentE.computer-aided software engineering E
Flappy bird is​ (was) considered a​ ____________ because it has specific functionalities for mobile devices and accesses data through the Internet.A.responsive web designB.mobile websiteC.mobile web appD.mobile design codeE.net app C
From the Girl Scout cookie​ case, the benefit of lowering increased sales is an example of a​ ______ benefit.A.InsignificantB.IntangibleC.ImplementationD.TrainingE.tangible E
Which of the following is NOT a section in an information systems​ plan?A.Business information needsB.Management strategyC.Current systemsD.Budget requirementsE.New developments A
Which of the following is NOT defined in the management strategy section of an information systems​ plan?A.Management controlsB.Personnel strategyC.Major training initiativesD.Firm’s strategic planE.Acquisition plans D
When a project is high risk and has the potential for high​ benefits, the company should categorize it as​ ________.A.routine projectB.avoidC.identify and developD.replaceE.cautiously examine E
When systems are created​ rapidly, without a formal development​ methodology:A.the organization quickly outgrows the new system.B.quality standards are less important.C.end users can take over the work of IT specialists.D.testing and documentation may be inadequate.E.end users may not be able to specify requirements. D
In which type of systems building are the development stages organized so that tasks in one stage are completed before the tasks in the next stage​ begin?A.Object orientedB.RADC.PrototypingD.TraditionalE.JAD D
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Ch.12 End of Chapter Review

Which of the following is an advantage of installing a client/server network in a business? Sharing of peripherals
On client/server networks, more users can be added without affecting the performance of other nodes. This is known as network scalability
Which server would a client/server network include to control data exchanges with other networks? communications
Which of the following is a private network set up by a business that’s used exclusively by a select group of employees and suppliers intranet
Network adapters send data packets based on a(n) MAC address
Providing adequate security on a corporate network involves all of the following issues EXCEPT proprietary software encryption
Which network cable type is virtually immune to signal interference? fiber-optic
The process whereby users prove they have authorization to use a computer network is known as authentication
Which topology tends to provide the fairest allocation of network resources? ring
Which is NOT a key component of a typical client/server network? terminator
Switches are used to send data on a specific route through an internal network. true
A proxy server is used to host websites on a client/server network. false
MAC adapters perform specific tasks to enable nodes to communicate on a network. false
Most modern operating systems do not include some type of NOS functionality. false
Ring topologies are the most widely used topology. false
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BA3350 Business Communication CH2 Quiz

Asking oneself how certain emotions alter or distort one’s thinking helps improve self-awareness.
Which of the following is characteristic of learner mind-sets? viewing differences of opinion as normal
Which of the following employees is most likely to have a blue motivational value system? Therese gets annoyed when she perceives that people don’t take work seriously.
What term is used for events that cause strong, often negative, emotional responses? triggers
Which of the following employees is acting with incivility? Scott usually greets female colleagues by saying, “Hello there, girls.”
In tense and emotionally charged situations, it is important to hold judgment.
What is sight-reading? intelligent observation of nonverbal communication
Which of the following is a strength of introverts? asking thoughtful, important questions
Which of the following is a funnel question? Now that we know we want to reduce the company budget, what subcategories should we consider?
_____ involves favorable explanations for why others have behaved in a certain way. Mitigating information
Frank is having difficulty hearing the point his coworker is making because of loud hammering outside the window. What type of noise is Frank experiencing? physical
Which of the following is a sign of a person paying attention? a nod to indicate acknowledgement
______ is a show of respect for the dignity and importance of others. Civility
Why does emotional hijacking occur? People have a high emotional intelligence, which makes them less emotional.
Which of the following employees is most likely to be a hub? Cho works at coordinating the efforts of the whole team.
Matt and LaRita grew up in communities that view authority in very different ways, so they have difficulty understanding each other at times. The problem is being caused primarily because of a filter of lifetime experiences.
On the day after her boyfriend broke up with her, Candace found out at work that someone else received the promotion she was hoping to get. Instead of asking her manager what she could do to improve her chances in the future, she raged about how unfair life is. What did Candace experience? emotional hijacking
Which of the following is most likely to be true about the people who exhibit high self-management? They spend a higher percentage of work conversations on work-related topics.
Which of the following employees is most likely to be an extrovert? Len meets everyone in the department by his third day on the job.
When you are trying to read another person’s nonverbal clues, which of the following should you focus on the most? the eyes
In the interpersonal communication process, the messages exchanged are simultaneous and mutual.
What are probing questions? Probing questions are intended to analyze a business problem from every angle in order to uncover its root causes.
Which of the following is a solution-oriented question? How can we reduce our expenses for office supplies to meet our budget goals?
People who speak out constructively about differences of opinion are most likely to have high relationship management skills.
What is the process of interpreting messages from others into meaning? decoding
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Business Flashcards

Info 360 Chapter 9

Improved decision making From your reading of the chapter’s opening case, Nvidia implemented new information systems in order to achieve which of the main six business objectives?
ERP systems. A suite of integrated software modules for finance and accounting, human resources, manufacturing and production, and sales and marketing that allows data to be used by multiple functions and business processes best describes:
best practices. Enterprise software is built around thousands of predefined business processes that reflect:
Enterprise software is expressly built to allow companies to mimic their unique business practices Which of the following is not true about enterprise systems?
Select the functions of the system you wish to use. You have been asked to implement enterprise software for a manufacturer of kitchen appliances. What is the first step you should take?
configuration tables When tailoring a particular aspect of a system to the way a company does business, enterprise software can provide the company with:
changes the way it works to match the software’s business processes. In order to achieve maximum benefit from an enterprise software package, a business:
produce products and services that coordinate with hundreds or more firms and suppliers. Supply chain complexity and scale increases when firms:
supply chain. A network of organizations and business processes for procuring raw materials, transforming these materials into intermediate and finished products, and distributing the finished products to customers is called a:
intermediate products. Components or parts of finished products are referred to as:
upstream portion of the supply chain. A company’s suppliers, supplier’s suppliers, and the processes for managing relationships with them is the:
downstream portion of the supply chain. A company’s organizations and processes for distributing and delivering products to the final customers is the:
unforeseeable events. Uncertainties arise in any supply chain because of:
It increases inventory costs Why is overstocking warehouses not an effective solution for a problem of low availability?
Safety stock Which of the following traditional solutions enables manufacturers to deal with uncertainties in the supply chain?
just-in-time A scheduling system for minimizing inventory by having components arrive exactly at the moment they are needed and finished goods shipped as soon as they leave the assembly line best describes a ________ strategy.
bullwhip A distortion of information about the demand for a product as it passes from one entity to the next across the supply chain is called the ________ effect.
planning; execution Supply chain software can be classified as either supply chain ________ systems or supply chain ________ systems.
planning Systems that enable a firm to generate demand forecasts for a product, and to develop sourcing and manufacturing plans for that product, best describes supply chain ________ systems.
identify the transportation mode to use for product delivery. Supply chain planning systems:
Demand planning Which supply chain planning function determines how much product is needed to satisfy all customer demands?
execution Supply chain ________ systems manage the flow of products through distribution centers and warehouses to ensure that products are delivered to the right locations in the most efficient manner.
identifying the optimal transportation mode. Capabilities of supply chain execution systems would not include:
Supply-chain planning system From your reading of the Land O’ Lakes case study, the company implemented which type of system to improve supply chain efficiency?
pull-based model A supply chain driven by actual customer orders or purchases follows a ________ model.
demand-driven A build-to-order supply-chain model is also called a ________ model.
The Internet Concurrent supply chains are made possible by which technology?
increased inventory levels. The business value of an effective supply-chain management system includes all of the following except:
touch point A ________ is a method of interaction with a customer, such as telephone or customer service desk.
Intranet Which of the following would not be considered a contact point?
PRM ________ modules use many of the same data, tools, and systems as CRM to enhance collaboration between a company and its selling partners.
ERM ________ modules deal with issues such as setting objectives, employee performance management, and performance-based compensation.
marketing. Customer relationship management systems typically provide software and online tools for sales, customer service, and:
managing sales prospect and contact information. SFA modules in CRM systems would provide tools for:
Customer and supplier intimacy CRM systems help businesses obtain which business objective?
assigning and managing customer service requests. Customer service modules in CRM systems provide tools for:
identifying profitable and unprofitable customers. Marketing modules in CRM systems would provide tools for:
cross-selling. Selling a customer with a checking account a home improvement loan is an example of:
Returns ________ management is an important capability for customer service processes that is found in most major CRM software products.
Lead management Which of the following is an important capability for sales processes that is found in most major CRM software products?
analytical CRM Customer relationship management applications dealing with the analysis of customer data to provide information for improving business performance best describes ________ applications.
salesforce automation. Operational CRM applications include tools for:
Niche customers Which of the following is not one of the four types of customers described in the case study on Graybar?
analytical CRM. Analyzing customer buying patterns is an example of:
CLTV Which metric is based on the relationship between the revenue produced by a specific customer, the expenses incurred in acquiring and servicing that customer, and the expected life of the relationship between the customer and the company?
churn rate. The measurement of the number of customers who stop using or purchasing products or services from a company is called:
Enterprise applications are best implemented when few changes in business processes are required. Which of the following statements about enterprise applications is not true?
Stand-alone suites Which of the following is not an example of next-generation enterprise applications?
e-business suites Enterprise application vendors have created ________ to make their own customer relationship management, supply chain management, and enterprise systems work closely together with each other.
reducing information uncertainty. The bullwhip effect is countered by:
Customer and supplier intimacy Which of the following business objectives would be most helped by implementing an enterprise application?
Up-to-the-minute data sharing Which of the following features is the main reason an enterprise system helps a business improve decision-making?
SFA ________ modules in CRM systems help sales staff increase their productivity by focusing sales efforts on the most profitable customers, those who are good candidates for sales and services.
Operational ________ CRM includes customer-facing applications such as tools for sales force automation, call center and customer service support, and marketing automation.
business intelligence Enterprise application vendors are now including ________ features, such as tools for data visualization, flexible reporting, and ad hoc analysis, as part of the application.
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Business Flashcards

chapter 12 notecards MIS

A business process consists of one or more​ _______, many of which are supported by information systems. Activities
A combination of​ hardware, software and data that accomplishes a set of requirements is termed​ a(n) _________. Application
Which of the following statements regarding information systems and business processes is​ correct? IS are related to one or more business​ processes; business processes are related to zero or more IS.
Creating new business processes and managing changes to existing processes is known as​ ________. business process managementbu
A​ __________ ensures that business processes and information systems meet the​ organization’s competitive strategies. business analyst
​A(n) __________ focuses on IS development and the successful completion of IS development projects following either the SDLC or scrum methodologies. systems analyst
Business processes may need to change and require management for many reasons. Which of the following is not likely to be the cause of changes to business​ processes? New computer hardware is available.
The goal of a business process is to align​ activities, repositories,​ roles, resources and flows so that​ __________ are accomplished. bussiness fucntions.
A flow that directs the order of activities in a business process is termed​ a(n) ________. control flowco
People and information systems are​ _________ that can be assigned to​ ______ in a business process. resources; roles
If an​ organization’s process of providing services to its customers makes too many​ mistakes, it needs to be changed because it is​ __________. Ineffective.
In a vertical integration​ move, a supplier organization has been acquired. This will necessitate a change in business processes due to​ _________ a change in business fundamentals
The first activity in the business process management cycle is​ ________. creating a model of the existing business processescr
A set of standard practices that can be used in the assessment stage of the BPM cycle is called​ _______. COBIT
In the​ swim-lane format of a business process​ model, all​ _______ for a role are included in that​ role’s swim-lane. Activities.
​________ is the standard set of terms and graphical notations for documenting business processes. Business process modeling notation​ (BPMN)
In a BPMN process​ diagram, you can use​ ________ to simplify process diagrams and draw attention to interactions between roles. swim-lane layout
The correct sequence for the five phases in the systems development life cycle​ (SDLC) process is​ ________. SystemSy ​ definition; requirements​ analysis; component​ design; implementation; system maintenance
The initial assessment of feasibility is made in the​ ________ phase of the systems development life cycle. System Deffiniton.
In a​ ________ installation, the new system installed in a single location​ first, then is rolled out to the entire organization once it is working properly. Pilot.
The easiest and cheapest time to alter the information system is in the​ ________ phase. requirements analysisre
In considering the​ trade-offs for systems development​ processes, what could cause diseconomies of​ scale? Adding more people.
Which of the following statements is not an accurate statement regarding the scrum​ process? Large complex projects can be managed with scrum.La
The main problem of the SDLC approach to systems development is the​ ________ nature of the process. Waterfall.
Process and systems development will evolve in the following ways in the next 10​ years, except​ ________. systems will become less integrated
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Business Flashcards

Business Law: Ch. 10 Video Exercise 10.1: Offer and Acceptance

Ignoring issues of the Statute of Frauds, is there a contract for the sale of Vinny’s Celica?A. Yes, between Vinny and Oscar for $4,000 now and 1,000 in a monthB. Yes between Vinny and Maria for $5,500 since Maria gave the highest offer.C. Yes, between Vinny and Oscar, if Oscar is willing to pay $5,500.D. Yes, between Vinny and Oscar for $5,000 cash since that was the first offer accepted. D. Yes, between Vinny and Oscar for $5,000 cash since that was the first offer accepted.
If Vinny and Maria had an otherwise valid contract, can she avoid her obligations if it does not have air conditioning?A. Yes, since most people prefer cars with air conditioning.B. No, the only condition in her acceptance was that it pass a smog inspection.C. Yes, it is implied that she can test drive the car before a contract was formed.D. Yes, she wanted a car with air conditioning so she could later say she meant for it to be in the contract. B. No, the only condition in her acceptance was that it pass a smog inspection.