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60 Cards in this Set

  • Front
  • Back

What rewards customer based on their spending?

Loyalty programs

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

High , Low

Three departments found in a typical company:

Human Resources, Accounting, Sales

Strengths are _____ and _____.

Helpful , Internal

Weaknesses are ____ and ____.

Harmful , Internal

Opportunities are ____ and _____.

Helpful , External

Threats are _____ and _____.

Harmful , External

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

Management Information Systems

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


Two support value activities:

Firm Infrastructure and Technology Development

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

Switching costs

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


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

Increasing Sales, Attracting New Customers, Decreasing Costs

Information is _____ converted into a meaningful and useful context.


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

Product differentiation

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

Supply chain

Examples of goods:

Cars, Groceries, and Clothing

Strengths can be described as having:

Core competencies, market leaders, cost advantages

Weaknesses can be described by:

Lack of strategic direction, obsolete technologies, outdated product line

Opportunities can be described as having:

Expanded product line, increase in demand, new markets

Threats can be described as having:

New entrants, substitute products, shrinking markets

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.


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

Buyer power

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

Object , Event

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


Examples of services:

Personal training, Waiting tables, Cutting hair

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


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


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

Supplier power

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

Focused strategy, Broad cost leadership, Broad differentiation

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

Chief Security Officer (CSO)

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

Chief Technology Officer (CTO)

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

Chief Privacy Officer (CPO)

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

Chief Information Officer (CIO)

Responsible for collecting, maintaining, and distributing company knowledge

Chief Knowledge Officer (CKO)

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) __________.


Three primary value activities:

Inbound logistics, Outbound logistics, Marketing and Sales


Data that is entered in a computer


Computer program that processes the data


The resulting information from the computer program


Controls to ensure correct processing

Question that can be answered using data

Order date, Amount sold, and customer number

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?


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.


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

Predictive Analytics

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?

Systems Thinking

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


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

SWOT Analysis

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.

High , Low

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


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


SWOT Analysis

Evaluates project position

The Five Forces Model

Evaluates industry attractiveness

Value Chain Analysis

Executes business strategy

The Three Generic Strategies

Chooses business focus

What are the interests of partners/suppliers?

Reliable contracts, Ethical materials handling

What are the interests of customers?

Exceptional service, High-quality products, and Ethical dealings

What are the interests of the government?

Adhere to regulations/laws, Increase employment

What are the interests of employees?

Fair compensation, Job security, and Ethical conduct

What are the interests of shareholders/investors?

Maximize profits, Grow market share, High ROI