IFSM 300 UMUC Quiz 1 2022 questions and answers
Which of the following is defined as the ability of customers to drive down the price of goods and services? - buyer power or the bargaining power of customers
Are there any direct variables that have no effect on a business' competitive positio...
which of the following is defined as the ability of customers to drive down the price of goods and services
are there any direct variables that have no effect on a business competit
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IFSM 300 UMUC Quiz 1 2022 questions and answers
Which of the following is defined as the ability of customers to drive down the price of
goods and services? - buyer power or the bargaining power of customers
Are there any direct variables that have no effect on a business' competitive position? -
No
Which of the following are components of an information system? (select all that apply) -
Data, Hardware, People, Process, Software
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? - Political and/or economic factors
True or false: Early research could not draw any connections between IT and
profitability, but later research has shown that the impact can be positive - True
Web 2.0 is exemplified by which of the following? (select all that apply) - Blogging,
social networking, interactive comments
Which use of the Internet could have a negative impact on a company's competitive
position? - allowing potential customers to find possible substitute products
In a business like Walmart, which of the following groups of variables has the most
impact on their competitive position? - suppliers, customers, location, employees
Of the following, which factor is least crucial to the ability of a company to maintain its
competitive position? - Employees benefits
Which of the following statements are true of Decision Support Systems (DSS)? (select
all that apply) - *A decision support system (DSS) is an information system built to help
an organization make a specific decision or set of decisions
*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.
Which of the following is defined as a series of activities undertaken by the company to
produce a product or service? - value chain
Which of the following groups of variables are all direct variables? - supplier, customers,
employees, location
Which of the following are the two primary methods for obtaining competitive advantage
described by Michael Porter? - *cost advantage
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