Explain Details regarding Management Information Systems

1. To solve unstructured business problems you must:
a. understand how the business operates
b. learn to ask the right questions
c. identify the root cause of the problem
d. all the above

2. The purpose of a __________ model is to describe how the individual processes interact with each other.
a. sequence
b. collaboration
c. process
d. class

3. Which of the following steps used to solve problems contain the greatest detailed analysis?
a. Selection of the appropriate tools
b. Dividing the system
c. Making a decision
d. Testing the system

4. Typically, when analyzing a case, there is one specific, identifiable solution.
a. True
b. False

5. Information technology can be used to implement a __________ competitive strategy.
a. low cost producer
b. product differentiation
c. product innovation
d. all the above

6. An airline and a resort hotel chain form an arrangement to sell package tours over the Internet, bypassing traditional tour operators. This situation represents:
a. B2B E-commerce
b. C2B E-commerce
c. Digitization of products
d. Disintermediation

7. When creating electronic business opportunities, the best strategy is one that:
a. is a cost leader
b. provides a high level of differentiation
c. creates barriers to entry that deters competitors
d. focuses on a small niche

8. In the core competence concept, _____________ refers to an assets ability to serve as a generator of profit for the firm.
a. appropriability
b. durability
c. transferability
d. replicability

9. A data warehouse represents a subset of the total data in the company and in most cases, is a dynamic link and not a static copy of the data.
a. True
b. False

10. Generally, the goal of the physical model is to:
a. create a model that can be constructed cheaply and looks like the original system
b. measures the business processes by the amount of time spent on each task and by tracing the number of steps each item follows
c. create a model that can be constructed cheaply and behaves like the original system
d. any or the above

11. Which of the following questions would an optimization model help answer?
a. How does the price of used cars change over time?
b. What price should a company charge for a new product?
c. What would happen if prices were increased by 20 percent?
d. How fast will revenues increase if overhead is cut by one third?

12. Decisions at the tactical management level are supported by:
a. executive information systems
b. transaction processing systems
c. decision support systems
d. optimization models

13. The purpose of a digital dashboard is to present an over all picture of the status of the firm or a division or a production plant.
a. True
b. False

14. Most financial decisions in a firm occur at the _________ management level.
a. strategic
b. tactical
c. operational
d. corporate

15. In corporate finance, financial performance models are used to:
a. forecast future conditions
b. monitor budgets and historical revenue and spending patterns
c. correlate the results of the findings of the economic models
d. forecast the production rate of a particular department or division

16. A firm seeks to determine how it might expand sales by identifying new sets of customers, with similar characteristics of existing customers, in new geographic areas. The firm will most likely use a(n):
a. Finance model
b. Marketing model
c. HRM model
d. Production model
e. Accounting model

17. In developing a computer system, the objective of the SDLC is to:
a. coordinate teams, evaluate progress, and ensure quality development
b. create a working version of the system as quickly as possible - even if some components are not included in the early version
c. allow end users to create their own computer systems
d. none of the above

18. When developing a project that is relatively small and requires a one-time
decision where prepackaged software is available, the best application
development to use would be:
a. SDLC
b. Prototyping
c. End user development
d. CASE tools

19. While security is still a major concern, the benefit of flexibility in terms of storing and accessing data is a very attractive feature of:
a. client/server systems
b. outsourcing
c. peer-to-peer communication
d. object orientation