MIS 304 MIDTERM EXAM QUESTIONS
AND ANSWERS
Which of the following is a key difference between strategic decisions and managerial
decisions?
a. Strategic decisions deal with the utilization of resources, whereas managerial
decisions deal with day-to-day activities.
b. Managerial decisions concern organizational issues, whereas strategic decisions
concern external issues.
c. Managerial decisions concern allocation and utilization of resources, whereas
strategic decisions concern broad organizational issues.
d. Strategic decisions involve financial issues, whereas managerial decisions do not
involve financial issues. - Answer-c. Managerial decisions concern allocation and
utilization of resources, whereas strategic decisions concern broad organizational
issues.
Project teams should document project results and information for future teams. Which
of the following is the project management phase in which the teams perform this
function?
a. doing
b. planning
c. starting
d. finalizing - Answer-d. finalizing
Being a skilled and persuasive presenter is the most important characteristic for an
effective collaborator.
True
False - Answer-False
The main purpose of the planning phase in a project is to ________.
a. set up the project scope and initial budget
b. accomplish the project tasks effectively
c. determine who will do what and by when
d. establish team roles, responsibilities, and authorities - Answer-c. determine who will
do what and by when
, A major drawback of Porter's five forces model is that it ignores the rivalry among firms
in the industry.
True
False - Answer-False
In the inbound logistics activity of a value chain, the manufacturer receives, stores, and
disseminates inputs to a product.
True
False - Answer-True
Focused cost leadership is observed when a product has the lowest cost ________.
a. within an industry segment
b. across the product mix offered by a company
c. across the entire industry
d. among a group of competitors - Answer-a. within an industry segment
The streamlining of business processes to increase margin is key to obtaining
competitive advantage.
True
False - Answer-True
Identify the activity in the value chain that involves receiving and handling of raw
materials and other inputs to the product.
a. inbound logistics
b. procurement
c. manufacturing
d. outbound logistics - Answer-a. inbound logistics
Porter's five forces model is used to assess ________.
a. industry structure
b. market share
c. internal competition
d. life cycles of products - Answer-a. industry structure
The competitive strategy of locking in customers by making it difficult for them to move
to another product is called establishing high switching costs.
True
False - Answer-True
AND ANSWERS
Which of the following is a key difference between strategic decisions and managerial
decisions?
a. Strategic decisions deal with the utilization of resources, whereas managerial
decisions deal with day-to-day activities.
b. Managerial decisions concern organizational issues, whereas strategic decisions
concern external issues.
c. Managerial decisions concern allocation and utilization of resources, whereas
strategic decisions concern broad organizational issues.
d. Strategic decisions involve financial issues, whereas managerial decisions do not
involve financial issues. - Answer-c. Managerial decisions concern allocation and
utilization of resources, whereas strategic decisions concern broad organizational
issues.
Project teams should document project results and information for future teams. Which
of the following is the project management phase in which the teams perform this
function?
a. doing
b. planning
c. starting
d. finalizing - Answer-d. finalizing
Being a skilled and persuasive presenter is the most important characteristic for an
effective collaborator.
True
False - Answer-False
The main purpose of the planning phase in a project is to ________.
a. set up the project scope and initial budget
b. accomplish the project tasks effectively
c. determine who will do what and by when
d. establish team roles, responsibilities, and authorities - Answer-c. determine who will
do what and by when
, A major drawback of Porter's five forces model is that it ignores the rivalry among firms
in the industry.
True
False - Answer-False
In the inbound logistics activity of a value chain, the manufacturer receives, stores, and
disseminates inputs to a product.
True
False - Answer-True
Focused cost leadership is observed when a product has the lowest cost ________.
a. within an industry segment
b. across the product mix offered by a company
c. across the entire industry
d. among a group of competitors - Answer-a. within an industry segment
The streamlining of business processes to increase margin is key to obtaining
competitive advantage.
True
False - Answer-True
Identify the activity in the value chain that involves receiving and handling of raw
materials and other inputs to the product.
a. inbound logistics
b. procurement
c. manufacturing
d. outbound logistics - Answer-a. inbound logistics
Porter's five forces model is used to assess ________.
a. industry structure
b. market share
c. internal competition
d. life cycles of products - Answer-a. industry structure
The competitive strategy of locking in customers by making it difficult for them to move
to another product is called establishing high switching costs.
True
False - Answer-True
