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Exam 2: Decision and Processes: Value Driven Business

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Question 51

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Which of the following departments is primarily responsible for promoting discounts, attracting customers, and communicating marketing campaigns?

A) Accounting and finance
B) Marketing and sales
C) Operations management
D) Human resources

E) B) and D)
F) All of the above

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Question 52

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What is a system that uses computerized advisory programs to imitate the reasoning processes of experts in solving difficult problems?

A) Expert system
B) Virtual reality
C) Neural network
D) Genetic algorithm

E) A) and C)
F) B) and D)

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Question 53

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What is the business process model that ensures the process is fully and clearly understood before the details of a process solution are decided upon?

What is a simplified representation or abstraction of reality?

____________ decisions are considered operational and involve situations where established processes offer potential solutions.

Review the following list of key terms and determine which one typically occurs during strategic business process improvement.

Anne-Marie Cole runs the sales division for a local auto insurance firm.One of her key duties is to calculate her company's market share.When evaluating the prior year numbers, she found that her firm achieved total sales of $3 million and the entire industry had $30 million in sales.What is Anne-Marie's current market share?

Which of the following represents a business-facing process?

What form of processes include loan processing for a bank, claims processing for an insurance company, reservation processing for a hotel, and baggage handling for an airline?

What can a model accomplish?

Define critical success factors (CSFs) and key performance indicators (KPIs), and explain how managers use them to measure the success of MIS projects.

Executives of a company deal less with details of the operational activities and deal more with the higher meaningful aggregations of information or "coarser" information.What refers to the level of detail in the model?

Several factors can accelerate the need for a company to make business improvement processes.What is the most prevalent factor?

Market share measures a firm's external performance relative to that of its competitors.Which of the following represents how a firm measures market share?

Managers use transactional information when making structured decisions at the operational level.

What improves managerial level business processes?

Which of the following offers a disadvantage for working virtually?

When evaluating the six-step decision making process, what occurs during the problem identification step?

Key performance indicators can focus on external and internal measurements.

What is the process of learning from ecosystems and adapting their characteristics to human and organization situations?