Management Chapter 2 The Value The Firms Products

subject Type Homework Help
subject Pages 9
subject Words 2118
subject Authors George Schell, Raymond McLeod

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Exam
Name___________________________________
MULTIPLE CHOICE. Choose the one alternative that best completes the statement or answers the question.
1)
Which of the following is a virtual resource of the firm?
1)
A)
personnel
B)
information
C)
money
D)
material
2)
Which of the following are not environmental elements of all firms?
2)
A)
labor unions
B)
materials
C)
suppliers
D)
customers
3)
Which of the following is not an advantage of coordination for the MNC?
3)
A)
increased operating costs
B)
keeping abreast of market needs worldwide
C)
flexibility
D)
increased efficiency and effectiveness
4)
When a firm links its value chain to the value chains of other organizations the linkage creates a(n):
4)
A)
open-loop system.
B)
cross functional system.
C)
interorganizational system.
D)
value system.
5)
According to Porter, a firm achieves competitive advantage by:
5)
A)
creating a margin.
B)
creating a value chain.
C)
creating a value system.
D)
creating value activities.
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6)
The general systems model of a firm has the following resource flows except for:
6)
A)
virtual resource flow.
B)
geographic resource flow.
C)
physical resource flow.
D)
firm’s control mechanism.
7)
A firm that operates across products, markets, nations, and cultures is referred to as a(n):
7)
A)
strategic corporation.
B)
multinational corporation.
C)
global corporation.
D)
enterprise.
8)
Which environmental element invests money in the firm?
8)
A)
customers
B)
financial community
C)
government
D)
stockholders
9)
Which of the following is/are not a primary value activity?
9)
A)
outbound logistics
B)
inbound logistics
C)
technology development
D)
marketing and sales operations
10)
The term to describe the use of information to gain leverage in the marketplace is:
10)
A)
strategic advantage.
B)
strategic objective.
C)
competitive objective.
D)
competitive advantage.
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11)
The firm’s information resources consist of the following except for:
11)
A)
information specialists.
B)
suppliers.
C)
software.
D)
hardware.
12)
Which environmental element provides skilled and unskilled workers for certain trades and
industries?
12)
A)
human resources
B)
labor unions
C)
personnel
D)
global community
13)
When information presents a complete picture of a problem, which dimension of information is in
use?
13)
A)
relevancy
B)
completeness
C)
timeliness
D)
accuracy
14)
What type of resource includes computer hardware and software, information specialists, and
users?
14)
A)
conceptual resources
B)
information management
C)
physical resources
D)
information resources
15)
The following are environmental elements except:
15)
A)
government.
B)
competitors.
C)
suppliers.
D)
employees.
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16)
The network that uses information to create competitive advantage is called a:
16)
A)
network chain.
B)
value network.
C)
value system.
D)
value chain.
17)
Which of the following is not part of a firm’s supply chain?
17)
A)
stockholders
B)
firm
C)
suppliers
D)
customers
18)
What is the only resource that connects the firm with all of the environmental elements?
18)
A)
information
B)
machines
C)
money
D)
material
19)
Which dimension of competitive advantage uses cookies to store information about a user’s
transactions?
19)
A)
middle
B)
tactical
C)
operational
D)
strategic
20)
The following are just some of the constraints that GIS developers must address except for:
20)
A)
restrictions on data processing.
B)
restrictions on hardware purchases and imports.
C)
restrictions on graphics and icons.
D)
restrictions on data communications.
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21)
Which of the following is concerned with obtaining such resources as materials and machines,
which are used by primary activities?
21)
A)
service activities
B)
operations
C)
procurement
D)
marketing and sales operations
22)
Which activity is defined as acquiring information, using it in the most effective way, and
discarding it at the proper time?
22)
A)
operational management
B)
knowledge management
C)
tactical management
D)
strategic management
23)
Which of the following is/are a support activity?
23)
A)
service activities
B)
logistics
C)
human resources management
D)
marketing and sales operations
24)
When information pertains to the problem at hand, which dimension of information is in use?
24)
A)
timeliness
B)
relevancy
C)
completeness
D)
accuracy
25)
Which environmental resource flow occurs more frequently than the others?
25)
A)
money flow from the government
B)
material flow to suppliers
C)
personnel flow to competitors
D)
machine flow from suppliers
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26)
Which of the following is not included in a SPIR?
26)
A)
itemized budget
B)
goals of the information services unit
C)
summarized work plan
D)
executive summary
27)
Which of the following is not a physical resource of the firm?
27)
A)
personnel
B)
material
C)
money
D)
data
28)
At which managerial level can managers specify how the strategic plans will be implemented?
28)
A)
strategic
B)
middle
C)
operational
D)
tactical
29)
Which of the following is not one of the four basic dimensions of information?
29)
A)
efficiency
B)
accuracy
C)
relevancy
D)
timeliness
30)
Which environmental resource flow occurs less frequently than the others?
30)
A)
money flow to stockholders
B)
material flow to customers
C)
information flow from customers
D)
money flow from the government
SHORT ANSWER. Write the word or phrase that best completes each statement or answers the question.
31)
________ is the movement of machine-readable data across national boundaries.
31)
32)
________ suggests that harm can come from having too much information.
32)
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33)
________ are organizations and individuals that exist outside the firm and that have a
direct or indirect influence on it.
33)
34)
In the information field, ________ refers to the use of information to gain leverage in the
marketplace.
34)
35)
The firm is connected to its environmental elements by ________.
35)
36)
A ________ is one that has a fundamental effect in shaping the firm’s operations.
36)
37)
These products and services are marketed to the firm’s ________.
37)
38)
Browsers often have ________, small files of information on the user’s computer, that can
store account numbers, passwords, and other information pertinent to the user’s
transactions.
38)
39)
________ is the process of organizing a firm’s information so that it can easily be captured,
stored, processed, and used by decision makers.
39)
40)
A firm achieves a ________ when it implements a strategy in a better way than its
competitors.
40)
41)
Firms create value by performing what Porter calls ________.
41)
42)
An ________ is one that deals with everyday transactions and processes.
42)
43)
The leading proponent of competitive advantage is ________.
43)
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44)
________ supply the materials, machines, services, people, and information that the firm
uses to produce its products or services.
44)
45)
M ________ is the value of the firm’s products and services minus their costs, as perceived
by the firm’s customers.
45)
TRUE/FALSE. Write 'T' if the statement is true and 'F' if the statement is false.
46)
In a larger system, the environmental elements are referred to as society.
46)
47)
When a firm’s executives are fully committed to strategic planning, they do not need each business
area to develop its own strategic plan.
47)
48)
Knowledge management is the process of organizing a firm’s information so that it can easily be
captured, stored, processed, and used by decision makers.
48)
49)
Legacy systems are incompatible or only partially compatible with current information technology.
49)
50)
Coordinating information processing in the MNC causes the overall costs of operation to increase.
50)
51)
Management is guided in its decision making by the firm’s physical resource flow.
51)
52)
Information has relevancy when it pertains to the problem at hand.
52)
53)
The information resources necessary to meet the objectives are one topic that should be included in
each SPIR.
53)
54)
Technology development supports but does influence the primary activities of the firm.
54)
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55)
The physical resources of the firm include personnel, material, machines, and money.
55)
56)
A tactical advantage is one that has a fundamental effect in shaping the firm’s operations.
56)
57)
Cookies are small files of information on the firm’s computers that store customer information.
57)
58)
The physical resources of the firm are used to produce the products and services the firm provides
to its customers.
58)
59)
A multinational corporation is a firm that operates across products, markets, nations, and cultures.
59)
60)
The CIO is the manager of information services who contributes managerial skills to solving
problems relating not only to the information resources but also to other areas of the firm’s
operations.
60)
61)
Strategic planning for information resources is the concurrent development of strategic plans for
information services and the firm so that the firm’s plan reflects the support to be provided by
information services.
61)
62)
The only resource that connects the firm with all of the environmental elements is information.
62)
63)
Competitive advantage refers to the use of data to gain leverage over the competitors.
63)
64)
Operational advantage is one that deals with everyday transactions and processes.
64)
65)
Tactical advantage is achieved when a firm implements a strategy in a better way than its
competitors.
65)
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66)
The most publicized data communications restriction is that put on transborder data flows.
66)
67)
The firm’s business partners work together to create synergy.
67)
68)
The CIO can position information services as a vital element in the organizational structure of the
firm by focusing on keeping business processes as they are.
68)
69)
The feedback loop is composed of the physical resources.
69)
70)
A strategic advantage is one that has a fundamental effect in shaping the firm’s products.
70)
71)
The firm exists for the purpose of making a profit.
71)
72)
A global information system is an information system that consists of networks that do not cross
national boundaries.
72)
73)
Communication overload suggests that harm can come from too much information.
73)
74)
Interaction with technology can vary greatly among cultures.
74)
75)
Firms create value by performing value activities.
75)
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76)
Explain Porter’s strategy for firms attempting to gain a competitive advantage.
77)
Explain the four basic dimensions of information.
78)
What are the advantages that accrue to the MNC because of good information processing capabilities and the
ability to coordinate?
79)
What advice should a CIO take so he/she can position information services as a vital element to the firm?
80)
What are the two core topics that should be included in every strategic plan for information resources?
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