BTMA 317 Midterm questions with complete solution 2023

BTMA 317 MidtermSMAC-stack - correct answer Social, Mobile, Analytics, and the Cloud Trends in Analytics - correct answer - The digital ecosystem (collaboration) - Immerse UX (virtual reality) - Autonomous Machines - Automated cognition (real-time responses) - Distributed Validation -XaaP (everything as a platform) - Decentralized making - Adaptive IT CIOs must: - correct answer - Spot trends - Focus on critical uncertainties of any given trend - Build agility into the organization's technology strategy Poter's 5 Forces Model - correct answer 1) Buyer Bargaining Power 2) Supplier Power 3) Threat of Substitute Products or Services 4) Threat of New Entrants 5) Rivalry Among Existing Competitors Run-grow-transform framework (RGT) - correct answer the allocation in terms of percentages of IT dollars on various types of business strategies Run - correct answer optimizing existing processes Grow - correct answer increasing market share, products, and service offerings Transform - correct answer Innovate business processes, products, or services IT can provide a competitive advantage through: - correct answer - Supply chain management - Customer Relationship management - Enterprise Resource Planning - Social Media Supply chain management (SCM) - correct answer Tracks inventory and information among business processes and across companies Just-in-time (JIT) - correct answer method for producing or delivering a product at the time the customer wants it Dell's Effective SCM method - correct answer Sell, Source, and Ship (low inventory levels) Analytics - correct answer Use hard data to support decision making in CRM Sales force automation systems (SFA) - correct answer automatically track all the steps in the sales process Purchase Funnel - correct answer Aware -> consider -> shop -> buy -> 1-6 months owner -> 6-x years owners -> last 6 months of ownership -> re-enter market Front office systems - correct answer Sales and manufacturing and order taking Back office systems - correct answer Fulfillment and support/call centres Major ERP Vendors - correct answer - SAP