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MIS 200 Midterm Test with All Correct Answers

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MIS 200 Midterm Test with All Correct Answers Human resource ERP component - Answer-Tracks employee information including payroll, benefits, compensation, performance assessment, and assumes compliance with the legal requirements of multiple jurisdictions and tax authorities Extended ERP compo...

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  • August 30, 2024
  • 7
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

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  • mis 200
  • mis 200 midterm test
  • mis 200 midterm test with all correct answers
  • human resource erp component

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MIS 200 Midterm Test with
All Correct Answers
Human resource ERP component - Answer-Tracks employee information including
payroll, benefits, compensation, performance assessment, and assumes compliance
with the legal requirements of multiple jurisdictions and tax authorities

Extended ERP components include - Answer-Business intelligence, Customer
relationship management, Supply chain management

Balanced scorecard - Answer-Enables organizations to clarify their vision and strategy
and translate them into action

Four perspectives of the balanced scorecard - Answer-Learning and growth, internal
business process, customer, financial

Costs of ERP - Answer-contain multiple complex components that are not only
expensive to purchase, but also expensive to implement (software, consulting fees,
process rework, customization, integration, testing/training)

Backbone of ebusiness - Answer-SCM, CRM, and ERP, Integration allows the
unlocking of information to make it available to any user, anywhere, anytime
Competitive advantage - Answer-A product or service that an organization's customers
place a greater value on than similar offerings from a competitor

First-mover advantage - Answer-Occurs when an organization can significantly impact
its market share by being first to market with a competitive
advantage

SWOT analysis - Answer-evaluates an organization's strengths, weaknesses,
opportunities, and threats to identify significant influences that work for or against
business strategies

Porter's Five Forces Model - Answer-evaluating industry attractiveness

buyer power - Answer-The ability of buyers to affect the price of an item

switching cost - Answer-Manipulating costs that make customers reluctant to

, switch to another product

loyalty program - Answer-Rewards customers based on the amount of business they do
with a particular organization

supplier power - Answer-The suppliers' ability to influence the prices they charge for
supplies

supply chain - Answer-Consists of all parties involved in the procurement of a product or
raw material

Threat of substitute products or services - Answer-High when there are many
alternatives to a product or service and low when there are few alternatives

threat of new entrants - Answer-High when it is easy for new competitors to enter a
market and low when there are significant entry barriers

entry barrier - Answer-A feature of a product or service that customers have come to
expect and entering competitors must offer the same for
survival

Rivalry among existing competitors - Answer-High when competition is fierce in a
market and low when competitors are more complacent

product differentiation - Answer-Occurs when a company develops unique differences in
its products or services with the intent to influence demand

cost leadership - Answer-low cost, broad market

differentiation - Answer-high cost, broad market

focused strategy - Answer-narrow market, high/low cost

business process - Answer-A standardized set of activities that accomplish a specific
task

value chain analysis - Answer-Views a firm as a series of business processes that each
add value to the product or service

inbound logistsics - Answer-Acquires raw materials and resources, and distributes

operations - Answer-Transforms raw materials or inputs into goods and services

outbound logistsics - Answer-Distributes goods and services to customers

marketing and sales - Answer-Promotes, prices, and sells products to customers

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