CIS 2200 CHAPTER 1 –4 |56 QUESTIONS AND ANSWERS|GUARANTEED SUCCESS

The quantifiable metrics a company uses to evaluate progress toward critical success factors are called: Key performance indicators Companies today are successful when they combine the power of the information age with traditional business methods. True What includes support-value activities and primary-value activities and is used to determine how to create the greatest possible value for customers? Value chain analysis. A system is a collection of parts that link together to ___________. achieve a common purpose. When evaluating the value chain, which of the following is included in the support value activities? Firm infrastructure. Which of the following is considered data? Quantity sold Which of the following is a type of metric based on website data? All of these Information technology equals business success and innovation. False What type of metrics includes number of prospective customers, number of new customers, and number of retained customers? CRM metrics MIS is a business function, like accounting or sales, which moves information about people, products, and processes across the company to facilitate decision making and problem solving. What does MIS stands for? Management Information Systems. What are the three phases in the evolution of CRM? Reporting, analyzing, predicting What types of metrics measure customer satisfaction? Effectiveness MIS metrics Which of the following is not a valid way that a CRM system can collect information? Customer's personal computer. The balanced scorecard views the organization from four perspectives, and users should develop metrics, collect data, and analyze their business relative to each of these perspectives. Which of the following is not one of the four perspectives in the balanced scorecard? The leading perspective Business intelligence is information collected from multiple sources. Which of the following provides an example of a source that would be included in business intelligence? All of these. One challenge that companies today sometimes have is that they are departmentalized and the departments act independently of each other. One solution that can help a company work interdepartmentally includes ___________. Management information systems The process of gathering information about the competitive environment, including competitors' plans, activities, and products, to improve a company's ability to succeed is the definition of ___________. competitive intelligence What is data converted into a meaningful and useful context? Information. Which website metric measures the count of the number of people who visit a site, click on an ad, and are taken to the site of the advertiser? Click-through According to Peter Drucker, what are managers who do the right things addressing? Effectiveness Which of the following decisions does a firm need to make as soon as it has identified the activities from the value chain that are bringing the highest added value to their customers? All of these. What is the purpose of business process reengineering? To make all business processes the best-in-class. What is CRM? Both a technology and a strategy Two ways to reduce buyer power are through switching costs and loyalty programs. True What does supply chain management involve? The management of information flows between and among stages in a supply chain to maximize total supply chain effectiveness and profitability. MIS can add value to both primary activities and support activities in the value chain. Which of the following is not an example of a company adding value by using MIS in a primary activity? Scottrade Corp. creating an online system for employees to track paychecks, benefits, the wellness-rewards program, and other employee benefit items. The goal of value chain analysis is to identify processes in which the firm can add value for the customer and create a competitive advantage for itself, with a ________ or ________________. cost advantage, product differentiation Which of the following is not included as one of Friedman's 10 forces that flattened the world? Systems thinking. What type of metrics measure throughput, speed, and availability? Efficiency MIS metrics What is enterprise-wide resource planning? Integrates all departments and functions throughout an organization into a single IT system so that employees can make decisions by viewing enterprise-wide information on all business operations. What is a count of the number of people who visit one site and click on an advertisement that takes them to the site of the advertiser? Click-through What is business process reengineering? The analysis and redesign of workflow within and between enterprises.