SGMA 217 Midterm 2 Exam Questions
With Correct Answers
Management of Information Systems (MIS) - ANSWER a discipline that involves
the management of people, process, and technology around the care of
information
Information Systems - ANSWER The combination of technology, people, and
process that an organization uses to produce and manage information
Competitive Advantage - ANSWER a set of unique features of a company and its
products that are perceived by the target market as significant and superior to
those of the competition; also called differential advantage
SWOT Analysis - ANSWER A SWOT analysis looks at the strengths and
weaknesses of the company itself and the opportunities and threats for the
company and its external environment.
Porter's Five Forces Model - ANSWER a model that focuses on the five forces
that shape competition within an industry
Five Forces that Shape Competition within an Industry - ANSWER 1. The risk of
new entry by potential competitors
2. the degree of rivalry among established companies within an industry
3. the bargaining power of buyers
4. the bargaining power of suppliers
5. the threat of substitute products
Industry Life Cycle Model - ANSWER A useful tool for analyzing the effects of an
industry's evolution on competitive forces.
Five Stages of Industry Evolution - ANSWER introduction, growth, cost or
shakeout, maturity, decline
Vision Statement - ANSWER a clear, concise picture of the company's future
direction in terms of its values and purpose that is used to guide and inspire
Mission Statement - ANSWER A clear, concise articulation of how the company
intends to achieve its vision- how it is different from its competition and the keys
to its success.
,Management - ANSWER the process of guiding and directing the development,
maintenance, and allocation of resources to attain organizational goals.
Efficiency - ANSWER using the least amount of resources to accomplish the
organization's goals (doing things right)
Effectiveness - ANSWER The ability to produce the desired results or goods
(doing the right thing)
Leadership - ANSWER the relationship between a leader and the followers who
want real changes, resulting in outcomes that reflect their shared purposes
Planning - ANSWER the process of deciding what needs to be done to achieve
organizational objectives, knowing what is needed to accomplish these
objectives (i.e resources), identifying when and how it will be done, and
determining by whom it should be done
Strategic Planning - ANSWER the process of creating long-range (one to five
years) broad goals for the organization and determining what resources will be
needed to accomplish those goals
Mission - ANSWER an organization's purpose and reason for existing; its long
term goals
Tactical Planning - ANSWER the process of beginning to implement a strategic
plan by addressing issues of coordination and allocation of resources to
different parts of the organization; has a shorter time frame (less than one year)
and more specific objectives than strategic planning
Operational Planning - ANSWER the process of creating specific standards,
methods, policies, and procedures that are used in specific functional areas of
the organization; helps guide and control the implementation of tactical plans.
Contingency Plans - ANSWER plans that identify alternative courses of action for
very unusual or unforeseen situations and simply when the assumptions on
which the original plan is built do not hold true
Organizing - ANSWER the process of coordinating and allocating a company's
resources to carry out its plans.
Top Management - ANSWER the highest level of managers, including CEO's,
presidents, and vice presidents; they develop strategic plans and address long-
range issues
, Middle Management - ANSWER Managers who design and carry out tactical
plans in specific areas of the company
Supervisory Management (Operational Management) - ANSWER managers who
design and carry out operational plans for the ongoing daily activities of the
company
Leading - ANSWER the process of directing, guiding, and motivating others
toward the achievement of organizational goals
Power - ANSWER the ability to influence others to behave in a particular way
Legitimate Power - ANSWER Power that is derived from an individual's position
in an organization
Reward Power - ANSWER Power that is derived from an individual's control over
rewards.
Pro Forma Financial Statements - ANSWER Projected financial statements of
future values.
Autocratic Leaders - ANSWER Directive leaders who prefer to make decisions
and solve problems on their own with little input from subordinates
Coercive Power - ANSWER Power that is derived from an individual's ability to
threaten negative outcomes.
Conceptual Skills - ANSWER a manager's ability to view the organization as a
whole, understand how the various parts are independent, and assess how the
organization relates to its external environment.
Consensual Leaders - ANSWER leaders who encourage discussion about issues
and then require that all parties involved agree to the final decision
Consultative Leaders - ANSWER Leaders who confer with subordinates before
making a decision but retain the final decision-making authority
Controlling - ANSWER the process of assessing (evaluating) the organization's
progress toward accomplishing its goals; includes monitoring the
implementation or a plan and correcting deviations from it.
Corporate Culture - ANSWER the set of attitudes, values, and standards of
behaviour that distinguishes one organization from another
Decisional Role - ANSWER a manager's activities as an entrepreneur, a
resource allocator, a conflict resolver, or a negotiator
With Correct Answers
Management of Information Systems (MIS) - ANSWER a discipline that involves
the management of people, process, and technology around the care of
information
Information Systems - ANSWER The combination of technology, people, and
process that an organization uses to produce and manage information
Competitive Advantage - ANSWER a set of unique features of a company and its
products that are perceived by the target market as significant and superior to
those of the competition; also called differential advantage
SWOT Analysis - ANSWER A SWOT analysis looks at the strengths and
weaknesses of the company itself and the opportunities and threats for the
company and its external environment.
Porter's Five Forces Model - ANSWER a model that focuses on the five forces
that shape competition within an industry
Five Forces that Shape Competition within an Industry - ANSWER 1. The risk of
new entry by potential competitors
2. the degree of rivalry among established companies within an industry
3. the bargaining power of buyers
4. the bargaining power of suppliers
5. the threat of substitute products
Industry Life Cycle Model - ANSWER A useful tool for analyzing the effects of an
industry's evolution on competitive forces.
Five Stages of Industry Evolution - ANSWER introduction, growth, cost or
shakeout, maturity, decline
Vision Statement - ANSWER a clear, concise picture of the company's future
direction in terms of its values and purpose that is used to guide and inspire
Mission Statement - ANSWER A clear, concise articulation of how the company
intends to achieve its vision- how it is different from its competition and the keys
to its success.
,Management - ANSWER the process of guiding and directing the development,
maintenance, and allocation of resources to attain organizational goals.
Efficiency - ANSWER using the least amount of resources to accomplish the
organization's goals (doing things right)
Effectiveness - ANSWER The ability to produce the desired results or goods
(doing the right thing)
Leadership - ANSWER the relationship between a leader and the followers who
want real changes, resulting in outcomes that reflect their shared purposes
Planning - ANSWER the process of deciding what needs to be done to achieve
organizational objectives, knowing what is needed to accomplish these
objectives (i.e resources), identifying when and how it will be done, and
determining by whom it should be done
Strategic Planning - ANSWER the process of creating long-range (one to five
years) broad goals for the organization and determining what resources will be
needed to accomplish those goals
Mission - ANSWER an organization's purpose and reason for existing; its long
term goals
Tactical Planning - ANSWER the process of beginning to implement a strategic
plan by addressing issues of coordination and allocation of resources to
different parts of the organization; has a shorter time frame (less than one year)
and more specific objectives than strategic planning
Operational Planning - ANSWER the process of creating specific standards,
methods, policies, and procedures that are used in specific functional areas of
the organization; helps guide and control the implementation of tactical plans.
Contingency Plans - ANSWER plans that identify alternative courses of action for
very unusual or unforeseen situations and simply when the assumptions on
which the original plan is built do not hold true
Organizing - ANSWER the process of coordinating and allocating a company's
resources to carry out its plans.
Top Management - ANSWER the highest level of managers, including CEO's,
presidents, and vice presidents; they develop strategic plans and address long-
range issues
, Middle Management - ANSWER Managers who design and carry out tactical
plans in specific areas of the company
Supervisory Management (Operational Management) - ANSWER managers who
design and carry out operational plans for the ongoing daily activities of the
company
Leading - ANSWER the process of directing, guiding, and motivating others
toward the achievement of organizational goals
Power - ANSWER the ability to influence others to behave in a particular way
Legitimate Power - ANSWER Power that is derived from an individual's position
in an organization
Reward Power - ANSWER Power that is derived from an individual's control over
rewards.
Pro Forma Financial Statements - ANSWER Projected financial statements of
future values.
Autocratic Leaders - ANSWER Directive leaders who prefer to make decisions
and solve problems on their own with little input from subordinates
Coercive Power - ANSWER Power that is derived from an individual's ability to
threaten negative outcomes.
Conceptual Skills - ANSWER a manager's ability to view the organization as a
whole, understand how the various parts are independent, and assess how the
organization relates to its external environment.
Consensual Leaders - ANSWER leaders who encourage discussion about issues
and then require that all parties involved agree to the final decision
Consultative Leaders - ANSWER Leaders who confer with subordinates before
making a decision but retain the final decision-making authority
Controlling - ANSWER the process of assessing (evaluating) the organization's
progress toward accomplishing its goals; includes monitoring the
implementation or a plan and correcting deviations from it.
Corporate Culture - ANSWER the set of attitudes, values, and standards of
behaviour that distinguishes one organization from another
Decisional Role - ANSWER a manager's activities as an entrepreneur, a
resource allocator, a conflict resolver, or a negotiator
