IS 301 Lecture 5 Exam Questions and
Correct Answers.
Which of the following best describes a supply chain?
A supply chain is a network of organizations and business processes for procuring raw
materials, transforming these materials into intermediate and finished products, and distributing
the finished products to customers.
Which of the following statements about the just-in-time strategy is true?
The just-in-time strategy is a scheduling system for minimizing inventory by having
components arrive exactly at the moment they are needed and finished goods shipped as soon as
they leave the assembly line.
Which of the following best describes supply chain execution systems?
Supply chain execution systems manage the flow of products through distribution centers and
warehouses to ensure that products are delivered to the right locations in the most efficient
manner.
In a(n) __________ model, production master schedules are based on forecasts for best
guesses of demand for products, and products are pushed to customers.
push-based
__________ deals with employee issues that are closely related to CRM, such as setting
objectives, employee performance management, performance-based compensation, and
employee training.
Employee relationship management
Which of the following best describes social CRM?
Social CRM is tools enabling a business to link customer conversations, data, and relationships
from social networking sites to CRM processes.
Which of the following statements about an enterprise system is true?
It provides firmwide information to help managers make better decisions.
,Which of the following best describes supply chain planning systems?
Supply chain planning systems enable a firm to model its existing supply chain, generate
demand forecasts for products, and develop optimal sourcing and manufacturing plans.
What are prediction markets?
They are established peer-to-peer betting markets where participants make bets on
specific outcomes.
Which of the following best describes an e-tailer business model?
An e-tailer sells physical products directly to consumers or to individual businesses.
Which of the following statements best defines the term exchanges?
Exchanges are independently owned third-party Net marketplaces that connect thousands of
suppliers and buyers for spot purchasing.
Which of the following best defines m-commerce?
The use of handheld wireless devices for purchasing goods and services from any location
Which of the following statements is true of a geosocial service?
It can tell a person where friends are meeting.
Which of the following refers to the ability of firms to profitably market goods to very
small online audiences, largely because of the lower costs of reaching very small
market segments (people who fall into the long tail ends of a Bell curve)?
Long tail marketing
A __________ is owned by the buyer, and permits the firm and designated suppliers,
distributors, and other business partners to share product design and
development, marketing, production scheduling, inventory management, and
unstructured communication, including graphics and e-mail.
private industrial network
Which of the following statements is true of a geoinformation service?
, Waze is an example of a geoinformation service.
Which of the following statements best describes the phenomenon called "the wisdom of
crowds"?
"Wisdom of crowds" refers to the belief that large numbers of people can make better
decisions about a wide range of topics or products than a single person or even a small
committee of experts.
Which of the following best defines an electronic data interchange (EDI)?
An electronic data interchange (EDI) enables the computer-to-computer exchange between two
organizations of standard transactions such as invoices, bills of lading, shipments schedules, and
purchase orders.
__________ is especially well-suited for location-based applications, such as finding local
hotels and restaurants, monitoring local traffic and weather, and providing personalized
location-based marketing.
M-commerce
Which of the following best describes the free/freemium revenue model?
In the free/freemium revenue model, firms offer basic services or content for free, while charging
a premium for advanced or special features.
Which of the following sells physical products directly to consumers or to
individual businesses?
An e-tailer
Which of the following is true of the effect of the ubiquitous nature of the Internet on
e-commerce?
It reduces transaction costs for a customer.
A(n) __________ enables the computer-to-computer exchange between two organizations
of standard transactions such as invoices, bills of lading, shipments schedules, and
purchase orders.
Correct Answers.
Which of the following best describes a supply chain?
A supply chain is a network of organizations and business processes for procuring raw
materials, transforming these materials into intermediate and finished products, and distributing
the finished products to customers.
Which of the following statements about the just-in-time strategy is true?
The just-in-time strategy is a scheduling system for minimizing inventory by having
components arrive exactly at the moment they are needed and finished goods shipped as soon as
they leave the assembly line.
Which of the following best describes supply chain execution systems?
Supply chain execution systems manage the flow of products through distribution centers and
warehouses to ensure that products are delivered to the right locations in the most efficient
manner.
In a(n) __________ model, production master schedules are based on forecasts for best
guesses of demand for products, and products are pushed to customers.
push-based
__________ deals with employee issues that are closely related to CRM, such as setting
objectives, employee performance management, performance-based compensation, and
employee training.
Employee relationship management
Which of the following best describes social CRM?
Social CRM is tools enabling a business to link customer conversations, data, and relationships
from social networking sites to CRM processes.
Which of the following statements about an enterprise system is true?
It provides firmwide information to help managers make better decisions.
,Which of the following best describes supply chain planning systems?
Supply chain planning systems enable a firm to model its existing supply chain, generate
demand forecasts for products, and develop optimal sourcing and manufacturing plans.
What are prediction markets?
They are established peer-to-peer betting markets where participants make bets on
specific outcomes.
Which of the following best describes an e-tailer business model?
An e-tailer sells physical products directly to consumers or to individual businesses.
Which of the following statements best defines the term exchanges?
Exchanges are independently owned third-party Net marketplaces that connect thousands of
suppliers and buyers for spot purchasing.
Which of the following best defines m-commerce?
The use of handheld wireless devices for purchasing goods and services from any location
Which of the following statements is true of a geosocial service?
It can tell a person where friends are meeting.
Which of the following refers to the ability of firms to profitably market goods to very
small online audiences, largely because of the lower costs of reaching very small
market segments (people who fall into the long tail ends of a Bell curve)?
Long tail marketing
A __________ is owned by the buyer, and permits the firm and designated suppliers,
distributors, and other business partners to share product design and
development, marketing, production scheduling, inventory management, and
unstructured communication, including graphics and e-mail.
private industrial network
Which of the following statements is true of a geoinformation service?
, Waze is an example of a geoinformation service.
Which of the following statements best describes the phenomenon called "the wisdom of
crowds"?
"Wisdom of crowds" refers to the belief that large numbers of people can make better
decisions about a wide range of topics or products than a single person or even a small
committee of experts.
Which of the following best defines an electronic data interchange (EDI)?
An electronic data interchange (EDI) enables the computer-to-computer exchange between two
organizations of standard transactions such as invoices, bills of lading, shipments schedules, and
purchase orders.
__________ is especially well-suited for location-based applications, such as finding local
hotels and restaurants, monitoring local traffic and weather, and providing personalized
location-based marketing.
M-commerce
Which of the following best describes the free/freemium revenue model?
In the free/freemium revenue model, firms offer basic services or content for free, while charging
a premium for advanced or special features.
Which of the following sells physical products directly to consumers or to
individual businesses?
An e-tailer
Which of the following is true of the effect of the ubiquitous nature of the Internet on
e-commerce?
It reduces transaction costs for a customer.
A(n) __________ enables the computer-to-computer exchange between two organizations
of standard transactions such as invoices, bills of lading, shipments schedules, and
purchase orders.
