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CIM Exam 1 Rev a questions with complete solutions 2024
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CIM Exam 1 Rev a questions with complete solutions 2024
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CIM Exam 1 RevFact - correct answer ✔A statement that can be proved.
Data - correct answer ✔Facts and statistics collected together for reference
or analysis
Information - correct answer ✔Data converted into a meaningful and useful
context
Knowledge - correct answer ✔Skills, experience, and expertise coupled with
information and intelligence that creates a person's intellectual resources
Knowledge Workers - correct answer ✔individuals valued for their ability to
interpret and analyze information
*IofT - correct answer ✔It is the network of physical objects or "things"
embedded with: Sensors, Software/Apps, Network connectivity: which
enables these objects to collect and exchange data.
Machine-to-machine (M2M) communication
Integration - correct answer ✔To process and interpret sensory input and
decide if action is needed
SWOT - correct answer ✔strengths, weaknesses, opportunities, threats
Porter's Five Forces - correct answer ✔threat of entry, threat of substitute,
supplier power, buyer power, and competitive rivalry
, 3 Generic Strategies - correct answer ✔1. broad cost leadership
2. broad differentiation
3. focused strategy
Value Chain Analysis (VCA) - correct answer ✔The process whereby a firm
determines the costs associated with organizational activities from purchasing
raw materials to manufacturing product(s) to marketing those products, and
compares these costs to rival firms using benchmarking.
The World is Flat - correct answer ✔Thomas Friedman: Argues that the
world is undergoing its third phase of globalization: "Globalization 3.0 is
shrinking the world from a size small to a size tiny and flattening the playing
field at the same time" (2005: 10). Whereas in the past globalization was
characterized by companies becoming more global, this third phase is unique
due to "the newfound power for individuals to collaborate and compete
globally. This flattening process is happening at warp speed and directly or
indirectly touching a lot more people on the planet at once"
Basically, if something CAN be done, it WILL be done!
Workflow - correct answer ✔The tasks, activities, and responsibilities
required to execute each step in a business process
Supply Chain Management - correct answer ✔The process of managing the
movement of raw materials, parts, work in progress, finished goods, and
related information through all the organizations involved in the supply chain;
managing the return of such goods, if necessary; and recycling materials
when appropriate.
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