LOMA 335 STUDY GUIDE 2025/2026 QUESTIONS AND
SOLUTIONS RANKED A+
✔✔business analytics - ✔✔A domain of automated research for business intelligence
that typically involves using software for data mining, statistical analysis, predictive
modeling, business process modeling and predictive analytics. [6]
✔✔business intelligence - ✔✔Decision-support information about competitive factors.
[6]
✔✔business process - ✔✔An ongoing method or system for fulfilling customers' needs
without involving significant mechanical or chemical processing. [11]
✔✔business process management system - ✔✔Software which supports business
process management and business process automation, typically by providing process
modeling tools for business analysts, developer tools for system integration,
dashboards to help process owners with measuring, monitoring, and controlling and
user interaction tools to facilitate work for work team members. [11]
✔✔business process reengineering (BPR) - ✔✔A process improvement project
intended as an intensive, one-time effort to radically redesign how the organization as a
whole employs its business processes and thus to achieve dramatic improvements in
the performance measures of cost, quality, service levels and speed. Also known as
reengineering. [11]
✔✔business research - ✔✔A research investigation for a practical business application,
usually with a connection to a profit motive. Also known as applied research. [6]
✔✔call load - ✔✔In a call center, the time required to handle the total volume of
inbound calls in a given time interval; determined by multiplying the call volume by the
average handling time in minutes. See also call volume and average handling time. [12]
✔✔call load forecasting - ✔✔In a contact center, a process used to predict within
specified time intervals, the volume of inbound telephone calls and the amount of staff
time needed to handle these calls. [12]
✔✔call quality - ✔✔In a contact center, refers to the quality of the service provided by
customer service representatives. [12]
✔✔call volume - ✔✔In a contact center, the total number of calls received during a
given time period; often reported in 15 minute or 30 minute intervals. [12]
✔✔cascading reports - ✔✔In a dashboard display, computer-based reports that offer
links between related data sets and distinctive data views suitable for various needs.
Cascading reports offer a choice of either summary data or more detailed data. [10]
,✔✔causal forecasting model - ✔✔A type of quantitative model that uses historical data
and other relevant variables as a basis for describing unknown future data points. [8]
✔✔certainty - ✔✔A probability of occurrence with no potential for deviation from the
expected outcome. [7]
✔✔change agent - ✔✔A type of leader who serves as a catalyst and assumes
responsibility for managing change activities for organizations. [3]
✔✔check sheet - ✔✔A page divided into areas, one area for each sorting category, on
which the user records a data observation by making a mark in the appropriate
category. [9]
✔✔child report - ✔✔A detailed report in a set of cascading reports. Contrast with parent
report. [10]
✔✔closure phase - ✔✔The lifecycle phase in which the project manager performs the
administrative activities of winding down and ending a project. Also known as close-out
phase. [14]
✔✔coalition tactics - ✔✔A type of influence tactic in which a person enlists the aid or
support of others in order to get another person to agree. [3]
✔✔CobIT - ✔✔A set of control standards designed and maintained for interpreting the
PCAOB auditing and control objectives in a technology context. Also known as Control
Standards for Information and Related Technologies. [13]
✔✔coercion - ✔✔In change management, a strategy in which an authority figure
instructs employees to accept a change or risk negative consequences. [3]
✔✔coercive power - ✔✔Power to mete out punishment to those who disobey. [3]
✔✔cognitive evaluation theory (CET) - ✔✔A subset of self-determination theory (SDT).
CET posits that providing extrinsic rewards for behavior that had been previously
intrinsically rewarding tends to decrease the overall level of motivation if the rewards are
seen as controlling or coercive. [4]
✔✔cohesiveness - ✔✔The tendency of group members to follow the group and resist
outside influences. [4]
✔✔collaborative decision process - ✔✔A process that requires a leader to obtain group
contributions, but allows the leader to select a decision that has reasonable acceptance
in the relevant group. [5]
,✔✔competitive advantage - ✔✔A position or circumstance that allows a company to
earn greater returns or experience faster market growth than its competitors whether in
the short run, or potentially in the long run. [2]
✔✔competitive strategy - ✔✔A strategy that encompasses only corporate or business
strategies and tactics devoted to achieving or maintaining the company's advantageous
position relative to competitors. [2]
✔✔computer simulation program - ✔✔A program that allows a user to create a model of
a real or proposed environment and then conduct imaginary or virtual trial runs on the
model to observe outcomes. Also called simulation software. [12]
✔✔concentration ratio - ✔✔A measure of industry concentration consisting of the
percentage market share attributable to a given number of the largest firms in an
industry, and sometimes calculated by taking the sum of the percentage market shares
of the top few companies in an industry. See also industry concentration. [2]
✔✔concurrent control - ✔✔An administrative control used between reporting periods to
monitor operations and indicate whether ongoing processes are within tolerances. [2]
✔✔conditional payoff - ✔✔For a decision alternative, an estimated outcome that reflects
one of two or more possible states of nature. [7]
✔✔conditional payoff table - ✔✔A type of payoff table showing the array of estimated
decision outcomes associated with two or more possible states of nature. [7]
✔✔conditional routing - ✔✔The directing of customer contacts based on changing
criteria. [12]
✔✔conflict of interest - ✔✔A conflict that exists when the interests or actions of one
entity, such as an employee, are incompatible with the interests or actions of a related
entity, such as an employer. [2]
✔✔conformity - ✔✔In group dynamics, a condition that occurs when a group member
adjusts her behavior to align it with the norms of the group. [4]
✔✔consensus decision process - ✔✔A process that involves all group members in the
decision process. [5]
✔✔consolidation - ✔✔A trend toward mergers, which leads to fewer sellers in the
industry. [1]
, ✔✔consultation - ✔✔A type of influence tactic in which one person asks another person
for input in order to influence that other person's acceptance of a decision or plan. [3]
✔✔contact center - ✔✔An organizational unit that provides a company's customers with
a variety of channels for communicating with the company. Other names for a contact
center are a call center, customer contact center, customer support center and
customer services center. [12]
✔✔continuous reinforcement - ✔✔In behavior modification, the process of either
encouraging every instance of a specific behavior or discouraging every instance of a
specific behavior. [3]
✔✔control chart - ✔✔A chart showing a plot of data observations about a given process
against a measure of time. Also known as process control chart or statistical control
chart. [9]
✔✔control framework - ✔✔A system of standards for use in an internal control system.
[13]
✔✔control limit - ✔✔A threshold value of the normal range listed within a control chart.
[9]
✔✔control point - ✔✔For a process, a measurable outcome that is susceptible to
repeated measurement while the process is ongoing. [11]
✔✔control variable - ✔✔In modeling for research, a variable introduced to help
researchers interpret the relationship between other variables. [6]
✔✔controlled busy signal - ✔✔In a telephone system, a feature that can be set to
provide a busy signal when call volume or call load reaches a specified trigger point.
Also known as blocked calls. [12]
✔✔controlling - ✔✔An activity which consists of ensuring that organizational processes,
assigned resources and associated outcomes all conform to the organization's mission,
goals, strategies, policies, plans and procedures and to applicable regulatory
requirements. [1]
✔✔convergence - ✔✔A breakdown of traditional distinctions between sectors of the
financial services industry. [1]
✔✔co-optation - ✔✔In change management, a strategy in which change agents give
those resisting the change a key role in bringing about the change, but the motive for
this involvement is to gain approval of the change rather than to solicit advice and
participation. [3]
SOLUTIONS RANKED A+
✔✔business analytics - ✔✔A domain of automated research for business intelligence
that typically involves using software for data mining, statistical analysis, predictive
modeling, business process modeling and predictive analytics. [6]
✔✔business intelligence - ✔✔Decision-support information about competitive factors.
[6]
✔✔business process - ✔✔An ongoing method or system for fulfilling customers' needs
without involving significant mechanical or chemical processing. [11]
✔✔business process management system - ✔✔Software which supports business
process management and business process automation, typically by providing process
modeling tools for business analysts, developer tools for system integration,
dashboards to help process owners with measuring, monitoring, and controlling and
user interaction tools to facilitate work for work team members. [11]
✔✔business process reengineering (BPR) - ✔✔A process improvement project
intended as an intensive, one-time effort to radically redesign how the organization as a
whole employs its business processes and thus to achieve dramatic improvements in
the performance measures of cost, quality, service levels and speed. Also known as
reengineering. [11]
✔✔business research - ✔✔A research investigation for a practical business application,
usually with a connection to a profit motive. Also known as applied research. [6]
✔✔call load - ✔✔In a call center, the time required to handle the total volume of
inbound calls in a given time interval; determined by multiplying the call volume by the
average handling time in minutes. See also call volume and average handling time. [12]
✔✔call load forecasting - ✔✔In a contact center, a process used to predict within
specified time intervals, the volume of inbound telephone calls and the amount of staff
time needed to handle these calls. [12]
✔✔call quality - ✔✔In a contact center, refers to the quality of the service provided by
customer service representatives. [12]
✔✔call volume - ✔✔In a contact center, the total number of calls received during a
given time period; often reported in 15 minute or 30 minute intervals. [12]
✔✔cascading reports - ✔✔In a dashboard display, computer-based reports that offer
links between related data sets and distinctive data views suitable for various needs.
Cascading reports offer a choice of either summary data or more detailed data. [10]
,✔✔causal forecasting model - ✔✔A type of quantitative model that uses historical data
and other relevant variables as a basis for describing unknown future data points. [8]
✔✔certainty - ✔✔A probability of occurrence with no potential for deviation from the
expected outcome. [7]
✔✔change agent - ✔✔A type of leader who serves as a catalyst and assumes
responsibility for managing change activities for organizations. [3]
✔✔check sheet - ✔✔A page divided into areas, one area for each sorting category, on
which the user records a data observation by making a mark in the appropriate
category. [9]
✔✔child report - ✔✔A detailed report in a set of cascading reports. Contrast with parent
report. [10]
✔✔closure phase - ✔✔The lifecycle phase in which the project manager performs the
administrative activities of winding down and ending a project. Also known as close-out
phase. [14]
✔✔coalition tactics - ✔✔A type of influence tactic in which a person enlists the aid or
support of others in order to get another person to agree. [3]
✔✔CobIT - ✔✔A set of control standards designed and maintained for interpreting the
PCAOB auditing and control objectives in a technology context. Also known as Control
Standards for Information and Related Technologies. [13]
✔✔coercion - ✔✔In change management, a strategy in which an authority figure
instructs employees to accept a change or risk negative consequences. [3]
✔✔coercive power - ✔✔Power to mete out punishment to those who disobey. [3]
✔✔cognitive evaluation theory (CET) - ✔✔A subset of self-determination theory (SDT).
CET posits that providing extrinsic rewards for behavior that had been previously
intrinsically rewarding tends to decrease the overall level of motivation if the rewards are
seen as controlling or coercive. [4]
✔✔cohesiveness - ✔✔The tendency of group members to follow the group and resist
outside influences. [4]
✔✔collaborative decision process - ✔✔A process that requires a leader to obtain group
contributions, but allows the leader to select a decision that has reasonable acceptance
in the relevant group. [5]
,✔✔competitive advantage - ✔✔A position or circumstance that allows a company to
earn greater returns or experience faster market growth than its competitors whether in
the short run, or potentially in the long run. [2]
✔✔competitive strategy - ✔✔A strategy that encompasses only corporate or business
strategies and tactics devoted to achieving or maintaining the company's advantageous
position relative to competitors. [2]
✔✔computer simulation program - ✔✔A program that allows a user to create a model of
a real or proposed environment and then conduct imaginary or virtual trial runs on the
model to observe outcomes. Also called simulation software. [12]
✔✔concentration ratio - ✔✔A measure of industry concentration consisting of the
percentage market share attributable to a given number of the largest firms in an
industry, and sometimes calculated by taking the sum of the percentage market shares
of the top few companies in an industry. See also industry concentration. [2]
✔✔concurrent control - ✔✔An administrative control used between reporting periods to
monitor operations and indicate whether ongoing processes are within tolerances. [2]
✔✔conditional payoff - ✔✔For a decision alternative, an estimated outcome that reflects
one of two or more possible states of nature. [7]
✔✔conditional payoff table - ✔✔A type of payoff table showing the array of estimated
decision outcomes associated with two or more possible states of nature. [7]
✔✔conditional routing - ✔✔The directing of customer contacts based on changing
criteria. [12]
✔✔conflict of interest - ✔✔A conflict that exists when the interests or actions of one
entity, such as an employee, are incompatible with the interests or actions of a related
entity, such as an employer. [2]
✔✔conformity - ✔✔In group dynamics, a condition that occurs when a group member
adjusts her behavior to align it with the norms of the group. [4]
✔✔consensus decision process - ✔✔A process that involves all group members in the
decision process. [5]
✔✔consolidation - ✔✔A trend toward mergers, which leads to fewer sellers in the
industry. [1]
, ✔✔consultation - ✔✔A type of influence tactic in which one person asks another person
for input in order to influence that other person's acceptance of a decision or plan. [3]
✔✔contact center - ✔✔An organizational unit that provides a company's customers with
a variety of channels for communicating with the company. Other names for a contact
center are a call center, customer contact center, customer support center and
customer services center. [12]
✔✔continuous reinforcement - ✔✔In behavior modification, the process of either
encouraging every instance of a specific behavior or discouraging every instance of a
specific behavior. [3]
✔✔control chart - ✔✔A chart showing a plot of data observations about a given process
against a measure of time. Also known as process control chart or statistical control
chart. [9]
✔✔control framework - ✔✔A system of standards for use in an internal control system.
[13]
✔✔control limit - ✔✔A threshold value of the normal range listed within a control chart.
[9]
✔✔control point - ✔✔For a process, a measurable outcome that is susceptible to
repeated measurement while the process is ongoing. [11]
✔✔control variable - ✔✔In modeling for research, a variable introduced to help
researchers interpret the relationship between other variables. [6]
✔✔controlled busy signal - ✔✔In a telephone system, a feature that can be set to
provide a busy signal when call volume or call load reaches a specified trigger point.
Also known as blocked calls. [12]
✔✔controlling - ✔✔An activity which consists of ensuring that organizational processes,
assigned resources and associated outcomes all conform to the organization's mission,
goals, strategies, policies, plans and procedures and to applicable regulatory
requirements. [1]
✔✔convergence - ✔✔A breakdown of traditional distinctions between sectors of the
financial services industry. [1]
✔✔co-optation - ✔✔In change management, a strategy in which change agents give
those resisting the change a key role in bringing about the change, but the motive for
this involvement is to gain approval of the change rather than to solicit advice and
participation. [3]
