MISY exam 1 questions with complete solutions 2023/2024 passed

MISY exam 1Which of the following represents the core drivers of the information age? - correct answer Data, Information, Business Intelligence, Knowledge What is information collected from multiple sources such as suppliers, customers, competitors, partners, and industries that analyzes patterns, trends, and relationships for strategic decision making? - correct answer Business intelligence What is Porter's Five Forces Model? - correct answer Analyzes the competitive forces within the environment in which a company operates to assess the potential for profitability in an industry Which four elements are included in systems thinking? - correct answer Input, Process, Output, and Feedback When analyzing Porter's three generic strategies for entering a market, if you have a focused strategy what market should you target? - correct answer A niche market. Your boss, Kerry Miller, has asked you to analyze the soft drink industry using Porter's five forces model. Which of the following represents rivalry in the soft drink industry? - correct answer Coke and Pepsi submit bids to the owner of a football stadium for the exclusive sale of their products during games. Which of the following statements is correct when considering a SWOT analysis? - correct answer Strengths and weaknesses originate inside an organization. There are many different stakeholders found in an organization. Stakeholders drive business strategies, and depending on the stakeholder's perspective, the business strategy can change. Which of the following is a main concern for shareholders/investors? - correct answer Maximize profits. In a SWOT analysis, which of the following could you discover as potential inner weaknesses (harmful)? - correct answer Damaged reputation. Which department maintains policies, plans, and procedures for the effective management of employees? - correct answer Human Resources. Which of the following is not a common approach to closing an MIS skills gap? - correct answer Competitive salary. In a SWOT analysis potential external opportunities are helpful when they identify all significant trends along with how the organization can benefit from each, including new markets, additional customer groups, legal changes, innovative technologies, population changes, competitor issues, and so on. - correct answer True Which of the following describes structured data? - correct answer All of the above. Porter has identified three generic business strategies including focused, broad cost leadership, and switching strategy - correct answer False Knowledge facilitators reside within the minds of members, customers, and colleagues and include physical structures and recorded media. - correct answer False here would you categorize strengths in a SWOT analysis? - correct answer Internal, helpful MIS is a tool that is most valuable when it leverages the talents of people who know how to use and manage it effectively. - correct answer True Which group of stakeholder's primary interests include fair compensation, job security, and ethical conduct/treatment? - correct answer Employees What is information collected from multiple sources such as suppliers, customers, competitors, partners, and industries that analyzes patterns, trends, and relationships for strategic decision making? - correct answer Business intelligence MIS is a business function. Which of the following does MIS perform to help aid the company in decision making and problem solving? - correct answer All of the above.