CIS 2200 MIDTERM 1 QUESTIONS &
ANSWERS|| LATEST UPDATE 2025
Business Strategy: - ANSWER A leadership plan that achieves a specific set of goals or
objects.
Identifying Competitive Advantages: - ANSWER 1. Decreasing costs
2. Attracting new costumers
3. Increasing customer loyalty
4. Increasing sales
5. Developing new products or services
6. Entering new markets
Competitive Advantage: - ANSWER A product or service that an organization's
costumers place a great value on than similar offerings from a competitor.
First-Mover Advantage: - ANSWER Occurs when an organization can significantly
impact its market share by being first to market with a competitive advantage.
Competitive Intelligence: - ANSWER The process of gathering information about the
competitive environment to improve the company's ability to succeed.
Porter's Five Force Model: - ANSWER • Threat of Substitute Products or Services
• Buyer Power
• Threat of new Entrants
• Supplier Power
• Rivalry Amongst Existing Competitors
Buyer Power: - ANSWER The ability of buyers to affect the price of an item.
Switching Cost: - ANSWER Is manipulating costs that make customers reluctant to
switch to another product or service.
Loyalty Program: - ANSWER Rewards customers based on the amount of business
they do with a particular organization.
Supplier Power: - ANSWER The suppliers' ability to influence the prices they charge for
supplies.
Threat of Substitute Products or Services: - ANSWER Is high when there are many
alternatives to a product or service and low when there are few alternatives.
Threat of New Entrance: - ANSWER High when it is easy for new competitors to enter a
market and low when there are significant entry barriers.
, Entry Barrier: - ANSWER A features of a product or service that customers have come
to expect and entering competitors must offer the same for survival.
Rivalry Among Existing Competitors: - ANSWER High when competition is fierce in a
market and low when competitors are more complacent.
Product Differentiation: - ANSWER Occurs when a company develops unique
differences in its products or services with the intent to influence demand.
Business Process: - ANSWER A standardized set of activities that accomplish a specific
task, such as a specific process.
Value Chain Analysis: - ANSWER Views a firm as a series of business processes that
each add value to the product or service.
Primary Value Activities: - ANSWER • Inbound Logistics
• Operations
• Outbound Logistics
• Marketing and Sales
• Service
Inbound Logistics: - ANSWER Acquires raw materials and resources, and distributes.
Operations: - ANSWER Transforms raw materials or inputs into goods and services.
Outbound Logistics: - ANSWER Distributes goods and services to customers.
Service: - ANSWER Provides customer support.
Reporting: - ANSWER Customer identification, asking what happened.
Analyzing: - ANSWER Is customer segmentation, asking why it happened.
Predicting: - ANSWER Customer prediction, asking what will happen
Enterprise Resource Planning (ERP): - ANSWER Integrates all departments and
functions throughout an organization into a single IT system so that employees can
make decisions by viewing enterprisewide information on all business operations.
Project: - ANSWER A temporary activity a company undertakes to create a unique
product, service, or result.
Metrics: - ANSWER Measurement that evaluate results to determine whether a project
is meeting its goals.
ANSWERS|| LATEST UPDATE 2025
Business Strategy: - ANSWER A leadership plan that achieves a specific set of goals or
objects.
Identifying Competitive Advantages: - ANSWER 1. Decreasing costs
2. Attracting new costumers
3. Increasing customer loyalty
4. Increasing sales
5. Developing new products or services
6. Entering new markets
Competitive Advantage: - ANSWER A product or service that an organization's
costumers place a great value on than similar offerings from a competitor.
First-Mover Advantage: - ANSWER Occurs when an organization can significantly
impact its market share by being first to market with a competitive advantage.
Competitive Intelligence: - ANSWER The process of gathering information about the
competitive environment to improve the company's ability to succeed.
Porter's Five Force Model: - ANSWER • Threat of Substitute Products or Services
• Buyer Power
• Threat of new Entrants
• Supplier Power
• Rivalry Amongst Existing Competitors
Buyer Power: - ANSWER The ability of buyers to affect the price of an item.
Switching Cost: - ANSWER Is manipulating costs that make customers reluctant to
switch to another product or service.
Loyalty Program: - ANSWER Rewards customers based on the amount of business
they do with a particular organization.
Supplier Power: - ANSWER The suppliers' ability to influence the prices they charge for
supplies.
Threat of Substitute Products or Services: - ANSWER Is high when there are many
alternatives to a product or service and low when there are few alternatives.
Threat of New Entrance: - ANSWER High when it is easy for new competitors to enter a
market and low when there are significant entry barriers.
, Entry Barrier: - ANSWER A features of a product or service that customers have come
to expect and entering competitors must offer the same for survival.
Rivalry Among Existing Competitors: - ANSWER High when competition is fierce in a
market and low when competitors are more complacent.
Product Differentiation: - ANSWER Occurs when a company develops unique
differences in its products or services with the intent to influence demand.
Business Process: - ANSWER A standardized set of activities that accomplish a specific
task, such as a specific process.
Value Chain Analysis: - ANSWER Views a firm as a series of business processes that
each add value to the product or service.
Primary Value Activities: - ANSWER • Inbound Logistics
• Operations
• Outbound Logistics
• Marketing and Sales
• Service
Inbound Logistics: - ANSWER Acquires raw materials and resources, and distributes.
Operations: - ANSWER Transforms raw materials or inputs into goods and services.
Outbound Logistics: - ANSWER Distributes goods and services to customers.
Service: - ANSWER Provides customer support.
Reporting: - ANSWER Customer identification, asking what happened.
Analyzing: - ANSWER Is customer segmentation, asking why it happened.
Predicting: - ANSWER Customer prediction, asking what will happen
Enterprise Resource Planning (ERP): - ANSWER Integrates all departments and
functions throughout an organization into a single IT system so that employees can
make decisions by viewing enterprisewide information on all business operations.
Project: - ANSWER A temporary activity a company undertakes to create a unique
product, service, or result.
Metrics: - ANSWER Measurement that evaluate results to determine whether a project
is meeting its goals.
