Question 1

If you were able to provide a product or service in a way that customers value more than what the competition is able to do, then you are creating a _____.

Accepted Answer

A)  Treasure chest 
B)  Competitive advantage 
C)  Market position 
D)  Niche

Question 2

The _____ flow of information consists of information that describes the current state of the organization based on its daily transactions.

Accepted Answer

The answer of The _____ flow of information consists of...

Question 3

What are the two main types, or categories, of software?

Accepted Answer

A)  User-supported or computer-supported systems 
B)  Service or application 
C)  Application and system 
D)  Utility or operating systems

Question 4

What is management information systems (MIS)?

Accepted Answer

A)  The study of information systems used by top management 
B)  The integration of computer tools with business processes 
C)  A type of business acquisition approach to technology 
D)  A business discipline that deals with the use of information technology (IT)

Question 5

Management information systems, or MIS, is a(n) _____ field of study.

Accepted Answer

A)  Emerging 
B)  Project-oriented 
C)  Tactical 
D)  Academic

Question 6

Having access to information from any location that you're working from is an example of the _____ quality attribute of information.

Accepted Answer

A)  Timeliness 
B)  Relevance 
C)  Form 
D)  Location

Question 7

_____ is the hardware component that interprets and executes software.

Accepted Answer

The answer of _____ is the hardware component that interprets...

Question 8

What is a value chain?

Accepted Answer

A)  The series of business processes, each of which adds value to products or services for your customers 
B)  A set of products and services that have proved valuable and profitable for your business 
C)  The information or feedback from customers that is then used to improve the quality of your products or services 
D)  The series of business partners and team members that are directly responsible for producing and processing a set of products or services for your customers

Question 9

Which of the following is considered a top-line strategic point of view?

Accepted Answer

A)  High customer ratings 
B)  Efficient operational efforts 
C)  Cutting-edge technology 
D)  A focus on revenue

Question 10

After you understand your competition and its affect on your industry, what should you do next?

Accepted Answer

A)  Identify the limitations of technology 
B)  Define the knowledge base of your workforce 
C)  Align your strategies, processes, and technology with your understanding of your industry 
D)  Determine your long-term goals and how these differ from your current thinking

Question 11

A(n) _____ person knows how and when to apply technology, while an _____ person understands what information is needed and how to obtain that information.

Accepted Answer

The answer of A(n) _____ person knows how and when...

Question 12

Ying Yang wished to upgrade her current home communications system. She wanted to replace her current Internet, TV, and phone to a fiber optics system. As a buyer, which force discussed by Porter did Ying need to deal with most?

Accepted Answer

A)  Threat of new entrants 
B)  Switching costs 
C)  Entry barrier 
D)  First-mover

Question 13

At upper organizational levels, information exhibits _____ granularity.

Accepted Answer

A)  Low-levels of 
B)  High-levels of 
C)  Coarse 
D)  Complete

Question 14

If you were to create a unique industry Web site for your customers that allowed them to build virtual communities with other customers by sharing knowledge, how would you be enhancing your competitive strategy?

Accepted Answer

A)  Through focus 
B)  Through overall cost leadership 
C)  Through loyalty enhancement 
D)  Through differentiation

Question 15

The information quality attribute of timeliness has only one aspect - having access to information when you need it.

Accepted Answer

A) True 
 B)False

Question 16

Knowledge in a business or field is acquired through practice over time using information and intelligence.

Accepted Answer

A) True 
 B)False

Question 17

What should you understand first when analyzing the technology needs of your business?

Accepted Answer

A)  The industry in which your business operates 
B)  The technology standards emerging with new systems 
C)  The computing skills of your IT staff 
D)  The competition

Question 18

Porter's Five Forces Model focuses on which of the following analytical steps to determine which technology to use?

Accepted Answer

A)  Determine critical business strategies needed to succeed 
B)  Identify key business processes that support business strategies 
C)  Align technology to key business processes 
D)  Assess your competition and the pressures facing them, your industry, and you

Question 19

The authors discussed Michael Porter's three strategies to beating the competition in any industry. Which of the following is not one of those three approaches?

Accepted Answer

A)  Customer loyalty 
B)  Overall cost leadership 
C)  Focus 
D)  Differentiation

Question 20

To minimize the threat of substitute products or services, some businesses will create switching costs. What is a switching cost?

Accepted Answer

A)  The price of the product or service is so high that a customer cannot afford to purchase another 
B)  Once you leave the first business for a competitor, you lose your ability to switch back to the first business 
C)  A non-refundable fine levied against the customer for switching to a competitor 
D)  Costs that make customers reluctant to switch to another project or service supplier

Exam 1: The Information Age in Which You Live