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IFSM 300 Quizzes/150 Questions with complete solutions
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IFSM 300 Quizzes/150 Questionswith complete solutions
Which of the following is defined as the ability of customers to drive down
the price of goods and services? - -A. Supplier power
B. Buyer power or the bargaining power of customers
C. Rivalry among competitors
D. Threat of price reduction
Answer: B
- Are there any direct variables that have no effect on a business'
competitive position? - -A. yes
B. no
Answer: no
- Which of the following are components of an information system? (Select
all that apply) - -A. data
B. hardware
C. people
D. process
E. software
Answer: All of the above
- 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? - -A. threat of
entry of new competitors
B. political and/or economic factors
C. bargaining power of suppliers
D. threat of substitute products/services
Answer: B
- T or F: 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) - -
A. blogging
B. online purchasing
C. social networking
,D. interactive comments
Answer: A, C, D
- In a business like Walmart, which of the following groups of variables has
the most impact on their competitive position? - -A. customers, suppliers,
government regulations, location
B. suppliers, customers, location, employees
C. location, environmental concerns, suppliers, technology
D. suppliers, location, technology, competition
Answer:B
- Which use of the internet could have a negative impact on a company's
competitive position? - -A. allowing potential customers to learn about the
company's products and services
B. providing an easy method to facilitate product orders to flow to the
suppliers
C. allowing potential customers to find possible substitute products
D. allowing a company to monitor patent infringement by other companies
Answer: C
- Of the following, which factor is least crucial to the ability of a company to
maintain its competitive position? - -A. emerging new technologies that
create new products or create efficiencies
B. patent infringements
C. employees' benefits
D. new international markets
Answer: C
- Which of the following is defined as a series of activities undertaken by the
company to product a product or service? - -A. business processes
B. value chain
C. strategic direction
D. competitive advantage
Answer:B
- Which of the following statements are true of Decision Support Systems
(DSS)? (select all that apply) - -A. a decision support system (DSS) is an
information system built to help an organization make a specific decision or
set of decisions.
B. DSSs are used only at the executive level and are used to make all
strategic decisions
, C. DSSs are designed to take inputs regarding a known (or partially-known)
decision-making process and provide the information necessary to make a
decision.
D. DSSs can exist at different levels of decision-making with the organization,
from the CEO to the first-level managers.
Answer: A, C, D
- Which of the following groups of variables are all direct variables? - -A.
customers, suppliers, government regulations, technology
B. suppliers, time, politics, owners
C. supplier, customers, employees, location
D. employees, location, technology, organizational components
Answer: C
- Strategic issues related to business processes and the value chain are
addressed at which organizational level? - -a. corporate level
b. business unit level
c. functional level
d. strategic level
Answer: C
- Which of the following are the two primary methods for obtaining
competitive advantage described by Michael Porter? (select the two that
apply) - -A. advantage of bringing new products to market
B. cost advantage
C. differentiation advantage
D. value chain creation
Answer: all the above
- T or F: Highly qualified vendors, consultants, and IT departments are the
most important elements for the successful implementation of enterprise
technologies. - -False
- Which of the following is exemplified by customers finding a different way
to get the product or service? - -A. customer disloyalty
B. threat of substitute product or services
C. rivalry among competitors
D. barriers to entry
Answer: B
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