Ba 304 Chapter 1

Front 1

What rewards customer based on their spending?

Back 1

Loyalty programs

Front 2

Rivalry among existing competitors is ____ when competition is fierce in a market and ____ when competition are more complacent.

Back 2

High , Low

Front 3

Three departments found in a typical company:

Back 3

Human Resources, Accounting, Sales

Front 4

Strengths are _____ and _____.

Back 4

Helpful , Internal

Front 5

Weaknesses are ____ and ____.

Back 5

Harmful , Internal

Front 6

Opportunities are ____ and _____.

Back 6

Helpful , External

Front 7

Threats are _____ and _____.

Back 7

Harmful , External

Front 8

What is a business function, which moves information about people, products, and processes across the company to facilitate decision making and problem solving?

Back 8

Management Information Systems

Front 9

The Internet of Things (IOT) is a world where interconnected, Internet-enabled devices or "things" can collect and share ____ without human intervention.

Back 9

data

Front 10

Two support value activities:

Back 10

Firm Infrastructure and Technology Development

Front 11

What are costs that make customers reluctant to switch to another product or service?

Back 11

Switching costs

Front 12

The first-mover advantage occurs when a company can significantly increase its market share by being first with a new ________ advantage.

Back 12

competitive

Front 13

Three goals or objectives that a leadership plan might include to achieve a solid business strategy:

Back 13

Increasing Sales, Attracting New Customers, Decreasing Costs

Front 14

Information is _____ converted into a meaningful and useful context.

Back 14

data

Front 15

What occurs when a company develops unique differences in it's products or services with the intent to influence demand?

Back 15

Product differentiation

Front 16

What consists of all parties involved, directly and indirectly, in obtaining raw materials or a product?

Back 16

Supply chain

Front 17

Examples of goods:

Back 17

Cars, Groceries, and Clothing

Front 18

Strengths can be described as having:

Back 18

Core competencies, market leaders, cost advantages

Front 19

Weaknesses can be described by:

Back 19

Lack of strategic direction, obsolete technologies, outdated product line

Front 20

Opportunities can be described as having:

Back 20

Expanded product line, increase in demand, new markets

Front 21

Threats can be described as having:

Back 21

New entrants, substitute products, shrinking markets

Front 22

An entry ________ is a feature of a product or service that customers have come to expect and entering competitors must offer the same for survival.

Back 22

barrier

Front 23

What is the ability of buyers to affect the price they must pay for an item?

Back 23

Buyer power

Front 24

Two terms that represent what is confirmed or validated with a fact:

Back 24

Object , Event

Front 25

Machine to machine (M2M) refers to devices that connect directly to other ________.

Back 25

Devices

Front 26

Examples of services:

Back 26

Personal training, Waiting tables, Cutting hair

Front 27

Productivity is the _____ at which goods and services are produced based upon total output given total inputs.

Back 27

rate

Front 28

A variable is a data characteristic that stands for a value that changes or varies over _____.

Back 28

time

Front 29

What is the suppliers ability to influence the prices they charge for supplies (including materials, labor, and services)?

Back 29

Supplier power

Front 30

Three generic business strategies Porter identified for entering a new market are:

Back 30

Focused strategy, Broad cost leadership, Broad differentiation

Front 31

Responsible for ensuring the security of business systems and developing strategies and safeguards against attacks by hackers and viruses

Back 31

Chief Security Officer (CSO)

Front 32

Responsible for ensuring the speed, accuracy, availability, and reliability of the MIS

Back 32

Chief Technology Officer (CTO)

Front 33

Responsible for ensuring the ethical and legal use of information within a company

Back 33

Chief Privacy Officer (CPO)

Front 34

Responsible for overseeing all uses of MIS and ensuring that MIS strategically aligns with business goals and objectives

Back 34

Chief Information Officer (CIO)

Front 35

Responsible for collecting, maintaining, and distributing company knowledge

Back 35

Chief Knowledge Officer (CKO)

Front 36

Potter's Five Forces Model analyzes the competitive forces within the environment in which a company operates to assess the potential for profitability in a(n) __________.

Back 36

industry

Front 37

Three primary value activities:

Back 37

Inbound logistics, Outbound logistics, Marketing and Sales

Front 38

Input

Back 38

Data that is entered in a computer

Front 39

Process

Back 39

Computer program that processes the data

Front 40

Output

Back 40

The resulting information from the computer program

Front 41

Feedback

Back 41

Controls to ensure correct processing

Front 42

Question that can be answered using data

Back 42

Order date, Amount sold, and customer number

Front 43

Feedback is information that returns to it's original transmitter (input, transform, or output) and modifies the transmitter's actions. What does feedback help the system maintain?

Back 43

Stability

Front 44

Competitive __________ is the process of gathering information about the competitive environment, including competitor's plans, activities, and products, to improve a company's ability to succeed.

Back 44

Intelligence

Front 45

What is an area of business intelligence, which extracts information from data and uses it to predict future trends and identity behavioral patterns?

Back 45

Predictive Analytics

Front 46

What is 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?

Back 46

Systems Thinking

Front 47

__________ includes the skills, expertise, and experience, coupled with information and intelligence, that creates a person's intellectual resources.

Back 47

Knowledge

Front 48

What evaluates an organization's strengths, weaknesses, opportunities, and threats to identify significant influences that work for or against business strategies?

Back 48

SWOT Analysis

Front 49

The threat of substitute products or services is _____ when there are many other alternatives to a product or service and ____ when there are few alternatives from which to choose.

Back 49

High , Low

Front 50

Who is a person or group that has an interest or concern in an organization?

Back 50

Stakeholder

Front 51

Productivity is the _____ at which goods and services are produced based upon total output given total inputs.

Back 51

rate

Front 52

SWOT Analysis

Back 52

Evaluates project position

Front 53

The Five Forces Model

Back 53

Evaluates industry attractiveness

Front 54

Value Chain Analysis

Back 54

Executes business strategy

Front 55

The Three Generic Strategies

Back 55

Chooses business focus

Front 56

What are the interests of partners/suppliers?

Back 56

Reliable contracts, Ethical materials handling

Front 57

What are the interests of customers?

Back 57

Exceptional service, High-quality products, and Ethical dealings

Front 58

What are the interests of the government?

Back 58

Adhere to regulations/laws, Increase employment

Front 59

What are the interests of employees?

Back 59

Fair compensation, Job security, and Ethical conduct

Front 60

What are the interests of shareholders/investors?

Back 60

Maximize profits, Grow market share, High ROI