Solved: IFSM 300 Quiz 1

Which of the following is defined as the ability of customers to drive down the price of goods and services?

supplier power

rivalry among competitors

threat of price reduction

buyer power or the bargaining power of customers

A strategic information system is one that attempts to do one or more of the following: (select all that apply)

help an organization focus on a specific market segment

enable innovation

deliver a product or a service at a lower cost

deliver a product or service that is differentiated

Which of the following are the two primary methods for obtaining competitive advantage described by Michael Porter? (select the two that apply)

A) differentiation advantage
B) value chain creation
C) cost advantage
D) advantage of bringing new products to market

True or false:  Highly qualified vendors, consultants, and IT departments are the most important elements for the successful implementation of enterprise technologies.

True
False

Which of the following statements are true of Decision Support Systems (DSS)?  (select all that apply)

DSSs are designed to take inputs regarding a known (or partially-known) decision-making process and provide the information necessary to make a decision.

DSSs can exist at different levels of decision-making with the organization, from the CEO to the first-level managers.

DSSs are used only at the executive level and are used to make all strategic decisions.

A decision support system (DSS) is an information system built to help an organization make a specific decision or set of decisions.

Which of the following are critical in today’s business world?  (select all that apply)

Identifying how an information system can provide competitive advantage

Ability to identify business opportunities that can be supported by information technology.

Understanding how organizations translate their high-level mission into specific objectives and align with technology solutions

Understanding how businesses use technology for strategic advantage

According to the Five Forces Model developed by Harvard Business professor Michael Porter, all of the following are major factors that determine a company’s standing in an industry, except for which one?

Bargaining power of suppliers

Political and/or economic factors

Threat of substitute products/services

Threat of entry of new competitors

The term “digital divide” refers to:

City-wide Internet access

Equal access to technology solutions

The separation of those who have access to the global network and those who do not

Global access to the Internet

Identify the correct sequence of events in organizational strategic planning.

Mission, Environmental Analysis, Goals, Objectives

Available Technology, Goals, Mission, Objectives

Mission, Available Technology, Objectives, Environmental Analysis

Goals, Processes, Technology, Profits

Which use of the Internet could have a negative impact on a company’s competitive position?

allowing potential customers to learn about the company’s products and services

allowing a company to monitor patent infringement by other companies

allowing potential customers to find possible substitute products

providing an easy method to facilitate product orders to flow to the suppliers

Which of the following are components of an information system?  (select all that apply)

people

data

process

software

hardware

Which of the following are advantages of globalization?  (select all that apply)

Correct Answer

Ability to draw from an international labor pool

Incorrect Response

Compatible world-wide infrastructure

Incorrect Response

Seamless ability to ship world-wide

Correct Answer

Expanded market for an organization’s products and services.

What business approach has enabled Walmart to drive prices down and react to market conditions more quickly?

Increased direct marketing

Employee benefit packages

Store location

Supply chain management system

Which of the following is exemplified by customers finding a different way to get the product or service?

rivalry among competitors

barriers to entry

threat of substitute product or services

customer disloyalty

Which of the following is defined as a series of activities undertaken by the company to add worth or importance to a product or service?

value chain

strategic direction

business processes

competitive advantage


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