A temporary endeavor undertaken to create a unique product, service, or result.
What is a project milestone?
A key date by which a certain group of activities must be performed.
The project management role has several responsibilities in the area of cost. Which of the following answers lists these responsibilities for cost?
Expectations, resources, technology choices
What is a project management office (PMO)?
An internal department that oversees all organizational projects.
The project management role has several responsibilities in the area of scope. Which of the following answers lists these responsibilities for scope?
Communication, requirements, changes
The PMI develops procedures and concepts necessary to support the profession of project management. Which of the following is not one of the three areas it focuses on?
Change in business goals during project planning (management).
What is the application of knowledge, skills, tools, and techniques to project activities to meet project requirements?
What is a project manager?
An individual who is an expert in project planning and management.
What are the three primary variables (or triple constraints) in any project?
Time, cost, scope
What are project deliverables?
Any measurable, tangible, verifiable outcomes, results, or items that are produced to complete a project or part of a project.
Consider a washing machine as a system. Which of the following represents the outputs?
The clean clothes.
Business intelligence is information collected from multiple sources. Which of the following provides an example of a source that would be included in business intelligence?
Competitors, Customers and Suppliers
Which of the following provides an accurate definition of systems thinking?
A way of monitoring the entire system by viewing multiple inputs being processed or transformed to produce outputs, while continuously gathering feedback on each part.
Consider an oven as a system. Which of the following represents the input?
The uncooked food.
Greg works for Geneva Steel Corporation. Greg's duties include managing the overall processes for the company and transforming the steel resources into goods. Which department would Greg most likely work in?
Which of the following statements is true?
IT enables business success and innovation.
What is data converted into a meaningful and useful context?
Consider a washing machine as a system. Which of the following represents the process?
The wash and rinse cycle.
The sales department needs to rely on information from operations to understand _________.
Demand Forecasts, Customer Orders & Inventory
Consider a home theater system. Which of the following represents the inputs?
The DVD player, DVD movie, speakers, TV, and electricity.
Michael Porter defined the Five-Forces Model and the potential pressures that can hurt sales. Which of the following is not one of the potential pressures that can hurt sales?
-Substitute products can steal customers. -New market entrants can steal potential investment capital. - Suppliers can drive down profits by charging more for supplies. (all of the above)
What are the two main categories in a value chain analysis?
Primary value activities and support value activities
Which of the following is included in Porter's Five-Forces Model?
The power of competitors.
Broad differentiation, broad cost leadership, and _________ are the three generic strategies identified by Porter.
When applying Porter's three generic strategies, Tiffany & Co. has a competitive scope and cost strategy that is a __________.
Narrow market, high cost strategy.
Which of the following offers an example where Porter's five forces are mostly weak and competition is low?
An international hotel chain purchasing milk.
Gina Brooks works for Aquarium Retail Services selling high-end saltwater fish and tank supplies. Aquarium Retail Services is the current market leader in Gina's city. Gina has recently been approached by Deep Blue Incorporated with an opportunity to run its corporate nationwide marketing and sales division. Gina decides to jump at the opportunity! Deep Blue is attempting to gain a competitive ________ by stealing its competitor's key employees.
What is a competitive advantage?
A feature of a product or service on which customers place a greater value than they do on similar offerings from competitors.
A __________ advantage features a product or service on which customers place a greater value than they do on similar offerings from competitors.
Which of the following represents a typical supply chain?
Which of the following defines supply chain operations?
The schedule for production activities, including testing, packaging, and preparation for delivery.
Which of the following defines supply chain strategy?
The strategy for managing all the resources required to meet customer demand for all products and services.
Charles Schwab recouped the cost of a multimillion-dollar system in less than two years. What type of system was it?
Customer relationship management.
Which of the following is an organizational result from an effective and efficient supply chain management system?
-Increase efficiencies while seeking a competitive advantage through cost leadership. -Decrease the power of its buyers. -Create entry barriers, thereby reducing the threat of new entrants. (all of the above)
What is business process reengineering?
The analysis and redesign of workflow within and between enterprises.
What can effective and efficient supply chain management systems enable an organization to accomplish?
-Increase its supplier power. -Increase the power of its buyers. -Increase switching costs to increase the threat of substitute products or services. (all of the above)
What is enterprise resource planning?
Integrates all departments and functions throughout an organization into a single IT system so that employees can make decisions by viewing enterprise-wide information on all business operations.
Which of the following is not a valid way that a CRM system can collect information?
Customer's personal computer.
Which of the following defines supply chain logistics?
The product delivery processes and elements, including orders, warehouses, carriers, defective product returns, and invoicing.
What is the purpose of business process reengineering?
To make all business processes the best-in-class.
What encompasses all of the information contained within a single business process or unit of work and its primary purpose is to support the performance of daily operational tasks?
What is immediate, up-to-date information?
________________ achieved great success by managing information, while _________ was unsuccessful at managing information.
Staples, Samsung Electronics
All of the following are characteristics of information except:
Which of the following is an example of transactional information?
Which of the following represents the different information granularities?
Detail, summary, aggregate
What encompasses all organizational information and its primary purpose is to support the performance of managerial analysis tasks?
Which of the following represents the different information formats?
Document, presentation, spreadsheet, database
What is it called when each transaction, entity, and event is represented only once in the information?
Which of the following implies that information is current with respect to the business requirement?
Which of the following describes ETL?
-A process that transforms information using a common set of enterprise definitions. -A process that extracts information from internal and external databases. -A process that loads information into a data warehouse. (all of these)
Which of the following statements is true regarding customer information?
-Customer information in each operational system could change. -Customer information can exist in several operational systems. -Customer information in each operational system can be different. (all of these)
What is data mining?
Process of analyzing data to extract information not offered by the raw data alone.
Which of the following are the principle BI enablers?
Technology, people, and corporate culture
Why is Ben & Jerry's using business intelligence?
To improve quality.
What do data warehouses support?
OLAP and analytical processing
Achieving perfect information is almost impossible. The more complete and accurate an organization wants its information to be, the more it costs. Which two variables are used to determine the trade-off for perfect information?
Accuracy versus completeness.
What does the Data Warehousing Institute estimate that low-quality information costs U.S. businesses annually?
What is information that people use to support their decision-making efforts?
Which of the following statements is true?
The more complete and accurate an organization wants to get its information, the more it costs.
Which of the following terms could you use synonymously when referring to the web?
URL, domain name
Which of the following is a reason for the growth of the World Wide Web?
-Web pages being easy to create and flexible. -Advancements in networking hardware. -The microcomputer revolution. (all of the above)
Bonnie Flat is a real estate agent who specializes in the luxury home market in the Seattle, Washington, area. Bonnie is highly technical and uses many online marketing techniques to increase business. One of most successful online marketing techniques is to place a box along the top of real estate websites and luxury custom furniture websites. What type of marketing technique is Bonnie using?
A banner ad
Universities were among some of the first users of the Internet. What was the Internet first called?
What refers to the creation of new kinds of intermediaries that simply could not have existed before the advent of ebusiness, including comparison-shopping sites such as Froogle and bank account aggregation services such as Citibank?
Which of the below statements is correct?
Just putting up a website does not create an ebusiness.
Which of the following is an example of a clickstream data metric?
-Dates and times of visits -Number of customers with shopping carts -The number of page views (all of these)
What is the business strategy that lets a company shorten the order process and add value with reduced costs or a more responsive and efficient service, and occurs when a business sells directly to the customer online?
What is the depth and breadth of details contained in a piece of textual, graphic, audio, or video?
What caused Polaroid to go bankrupt?
One-hour film processing and digital cameras stole its market share.
What is the difference between a B2C and a C2B?
B2C focuses on business to consumers, and C2B focuses on consumers to business.
What is the ebusiness model that applies to customers offering goods and services to each other over the Internet?
All of the following are forms of ebusiness except ______________.
Which of the following represents a brick-and-mortar business?
Carfax is an example of a company that sells its products or services directly to its consumers online. Which ebusiness model is Carfax using?
What converts an audio broadcast for use by a digital music player?
What are the four main types of ebusiness models?
Business-to-business, business-to-consumer, consumer-to-business, and consumer-to-consumer.
What is the difference between a business model and an ebusiness model?
A business model details how a company creates, delivers, and generates revenue. An ebusiness model does all of the same except on the Internet.
What is the ebusiness model that represents 80 percent of all online businesses and is typically more complex, requiring greater security needs?
What are the four challenges facing ebusinesses outlined in the text?
Identifying limited market segments, managing consumer trust, ensuring consumer protection, and adhering to taxation rules.
What is the most common form of collective intelligence found inside the organization?
What statement below describes Web 3.0's feature that ensures the "integration of legacy devices"?
The ability to use current devices such as iPhones and laptops as credit cards or tickets.
Cell phone manufacturers often refer to their products as mobile devices. Which of the below would not be included in the folksonomy for a cell phone?
What are websites that rely on user participation and user-contributed content, such as Facebook, LinkedIn, and YouTube?
What is the ability to purchase goods and services through a wireless Internet-enabled device?
Which of the following best describes Web 2.0?
Social media and user-generated web content
Large wikis, such as Wikipedia, can protect the quality and accuracy of their information by assigning users roles such as __________.
-Editor -Subject matter expert -Reader (all of the above)
Which of the following are challenges of Business 2.0?
-Technology dependence -Information vandalism -Violations of copyright and plagiarism (all of the above)
What is the type of knowledge that consists of anything that can be documented, archived, and codified, often with the help of an MIS department?
What is the practice of expanding your business and social contacts by constructing a personal network?
Which of the following is a fundamental of the RAD methodology?
-Actively involve system users in the analysis, design, and development phases. -Focus initially on creating a prototype that looks and acts like the desired system. -Accelerate collecting the business requirements through an interactive and iterative construction approach. (all of the above)
Which of the following is not one of the primary principles an organization should follow for successful agile software development?
Test and deliver infrequently.
What is the systems development life cycle?
The overall process for developing information systems from planning and analysis through implementation and maintenance.
Which of the following is a business-related consequence of software failure?
-Decreased productivity -Damage to brand reputation -Incurred liabilities (all of the above)
What consists of a series of tiny projects?
Which of the following represents the phases in the SDLC?
Which methodology provides a framework for breaking down the development of software into four gates?
Which methodology aims for customer satisfaction through early and continuous delivery of useful software components developed by an iterative process with a design point that uses the bare minimum requirements?
Which methodology ends each day or begins with a stand-up meeting to monitor and control the development effort?
Which phase of the SDLC gathers business requirements?