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The department within a company that records,measures,and reports monetary transactions is called ______________.


A) Accounting
B) Marketing
C) Finance
D) Operations Management

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

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Shawn McGill is on the executive board for ABC pharmaceuticals.The company produces the number one selling cancer fighting drug on the market.Due to its incredible success ABC pharmaceuticals has decided to increase the cost of the drug from $8 a pill to $15 a pill.Which force is ABC pharmaceutical using to increase its drug price?


A) Supplier power.
B) Buyer power.
C) Threat of false entrants.
D) Business power.

E) None of the above
F) C) and D)

Correct Answer

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Why do students need to study information technology?


A) Information technology is everywhere in business
B) Information technology is rarely discussed in business
C) Information technology is rarely used in organizations
D) Information technology is found in only a few businesses

E) None of the above
F) All of the above

Correct Answer

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When analyzing Porter's three generic strategies for entering a market,if you have a focused strategy what market should you target?


A) A niche market.
B) A broad market.
C) Neither niche or broad markets.
D) Both niche and broad markets.

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

Correct Answer

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What is the support value activity that provides employees with training,hiring,and compensation?


A) Procurement.
B) Operations resource management.
C) Human resource management.
D) Firm infrastructure.

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

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If a business is following a focused strategy then its competitive scope is _______.


A) Broad market
B) Narrow market
C) Broad range products
D) Broad range of services

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

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Porter suggests adopting only __________ of the three generic strategies.

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What is business intelligence?


A) Raw facts that describe the characteristics of an event or object.
B) Data converted into a meaningful and useful context.
C) Information collected from multiple sources that analyzes patterns,trends,and relationships for strategic decision making.
D) Skills,experience,and expertise,coupled with information and intelligence,that creates a person's intellectual resources.

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

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What is the primary responsibility of the CTO?


A) Overseeing all uses of MIS.
B) Ensuring the security of business systems.
C) Ensuring speed,accuracy,and reliability for MIS.
D) Collecting and distributing company information.

E) None of the above
F) B) and D)

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If you were thinking about a washing machine as a system which of the following represents the outputs?


A) The dirty clothes,water,and detergent.
B) The clean clothes.
C) The wash and rinse cycle.
D) The light indicating that the washer is off balance and has stopped.

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

Correct Answer

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The challenge that companies today sometimes have is that they are departmentalized and act independently of each other.One solution that can help a company work interdepartmentally includes __________.


A) System processes
B) Human resources
C) Management information systems
D) Resource information systems

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

Correct Answer

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MIS is a tool that is most valuable when it leverages the talents of people who know how to use and manage it effectively.

A) True
B) False

Correct Answer

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Which of the following demonstrates a company that has implemented a low cost,broad market strategy?


A) Neiman Marcus.
B) Payless Shoes.
C) The Sharper Image.
D) Walmart.

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

Correct Answer

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Shelby Black runs a very successful hair salon in downtown Los Angeles.One of Shelby's tasks is to input positive and negative customer reviews into her computer system.What type of information is Shelby gathering?


A) Feedback.
B) Processing.
C) Output management.
D) Sales processing.

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

Correct Answer

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Which of the following is considered a service?


A) Selling groceries
B) Managing a team
C) Cutting hair
D) All of the above

E) None of the above
F) All of the above

Correct Answer

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The __________ management department in a company manages the process of converting or transforming of resources into goods or services.

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If you were thinking about an oven as a system which of the following represents the process?


A) The uncooked food.
B) The cooked food.
C) A light indicating that the oven has reached the preheated temperature.
D) The oven running at 350 degrees for 20 minutes.

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

Correct Answer

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FedEx created a first-mover advantage by developing its customer self-service software,which allows people to request parcel pickups,print mailing slips,and track parcels online.

A) True
B) False

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Polaroid had a unique competitive advantage for many years until it forgot to observe competitive intelligence.The firm went bankrupt when people began taking digital pictures.Polaroid provides a great example of Porter's threat of new entrants.

A) True
B) False

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Cooking a patty and putting the ingredients together are included in the process of making a hamburger.

A) True
B) False

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