UMUC IFSM300 / UMUC IFSM300 Quiz 1 (2015) - 96604

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Question Question 1 1 / 1 point 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 View Feedback Question 2 1 / 1 point Are there any direct variables that have no effect on a business' competitive position? A) yes B) No View Feedback Question 3 1 / 1 point Which of the following are components of an information system? (select all that apply) A) data B) hardware C) people D) process E) software View Feedback Question 4 1 / 1 point 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 View Feedback Question 5 1 / 1 point True or false: Early research could not draw any connections between IT and profitability, but later research has shown that the impact can be positive. True False View Feedback Question 6 1 / 1 point 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 View Feedback Question 7 1 / 1 point 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 View Feedback Question 8 1 / 1 point 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 View Feedback Question 9 1 / 1 point 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 View Feedback Question 10 1 / 1 point Which of the following is defined as a series of activities undertaken by the company to produce a product or service? business processes value chain strategic direction competitive advantage View Feedback Question 11 1 / 1 point 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. View Feedback Question 12 0 / 1 point 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 View Feedback Question 13 1 / 1 point Strategic issues related to business processes and the value chain are addressed at which organizational level? corporate level business unit level functional level strategic level View Feedback Question 14 1 / 1 point 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 View Feedback Question 15 1 / 1 point Highly qualified vendors, consultants, and IT departments are the most important elements for the successful implementation of enterprise technologies. True False View Feedback Question 16 1 / 1 point Which of the following are Porter's three generic strategies? (select all that apply) A) cost leadership B) differentiation C) focus D) competitive advantage View Feedback Question 17 1 / 1 point 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 View Feedback Question 18 1 / 1 point True or False: According to Michael Porter, the Internet has the effect of lowering overall profitability. True False View Feedback Question 19 1 / 1 point A strategic information system is one that attempts to do one or more of the following: (select all that apply) A) help an organization focus on a specific market segment B) deliver a product or a service at a lower cost C) enable innovation D) deliver a product or service that is differentiated View Feedback Question 20 1 / 1 point True or False: The data show that IT has reduced the differences among companies. True False View Feedback
Solution Description

Question

Question 1 1 / 1 point

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

View Feedback

Question 2 1 / 1 point

Are there any direct variables that have no effect on a business' competitive position?

A) yes

B) No

View Feedback

Question 3 1 / 1 point

Which of the following are components of an information system? (select all that apply)

A) data

B) hardware

C) people

D) process

E) software

View Feedback

Question 4 1 / 1 point

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

View Feedback

Question 5 1 / 1 point

True or false: Early research could not draw

any