University of Maryland IFSM 300 quiz 1
Question 1 1 / 1 point
IFSM 300 quiz 1
Which of the following is defined as the ability of customers to drive do... [Show More] wn the price of goods and services?
A) supplier power
B) buyer power or the bargaining power of customers
C) rivalry among competitors
D) threat of price reduction
Question 2 0 / 1 point
Are there any direct variables that have no effect on a business' competitive position?
Question 3 1 / 1 point
Which of the following are components of an information system? (select all that apply)
Question 4 1 / 1 point
According to the Five Forces Model developed by Harvard Business professor Michael Porter, all of the following are major factors that determine a company’s standing in an industry, except for which one?
A) Threat of entry of new competitors
B) Political and/or economic factors
C) Bargaining power of suppliers
D) Threat of substitute products/services
Question 5 1 / 1 point
True or false: Early research could not draw
any connections between IT and profitability, but later research has shown that the impact can be positive.
Question 6 0.5 / 1 point
Web 2.0 is exemplified by which of the following? (select all that apply)
B) online purchasing
C) social networking
D) interactive comments
Question 7 1 / 1 point
In a business like Walmart, which of the following groups of variables has the most impact on their competitive position?
A) customers, suppliers, government regulations, location
B) suppliers, customers, location, employees
C) location, environmental concerns, suppliers, technology
D) suppliers, location, technology, competition
Question 8 1 / 1 point
Which use of the Internet could have a negative impact on a company's competitive position?
A) allowing potential customers to learn about the company's products and services
B) providing an easy method to facilitate product orders to flow to the suppliers
C) allowing potential customers to find possible substitute products
D) allowing a company to monitor patent infringement by other companies
Question 9 1 / 1 point
Of the following, which factor is least crucial to the ability of a company to maintain its competitive position?
A) emerging new technologies that create new products or create efficiencies
B) patent infringements
C) employees' benefits
D) new international markets
Question 10 1 / 1 point
Which of the following is defined as a series of activities undertaken by the company to produce a product or service?
Question 11 0 / 1 point
Which of the following statements are true of Decision Support Systems (DSS)? (select all that apply)
A) A decision support system (DSS) is an information system built to help an organization make a specific decision or set of decisions.
B) DSSs are used only at the executive level and are used to make all strategic decisions.
C) DSSs are designed to take inputs regarding a known (or partially-known) decision-making process and provide the information necessary to make a decision.
D) DSSs can exist at different levels of decision-making with the organization, from the CEO to the first-level managers.
Question 12 0 / 1 point
Which of the following groups of variables are all direct variables?
A) customers, suppliers, government regulations, technology
B) suppliers, time, politics, owners.
C) supplier, customers, employees, location
D) employees, location, technology, organizational components
Question 13 0 / 1 point
Strategic issues related to business processes and the value chain are addressed at which organizational level?
business unit level
Question 14 1 / 1 point
Which of the following are the two primary
methods for obtaining competitive advantage described by Michael Porter? (select the two that apply)
A) advantage of bringing new products to market
B) cost advantage
C) differentiation advantage
D) value chain creation
Question 15 1 / 1 point
Highly qualified vendors, consultants, and IT
departments are the most important elements for the successful implementation of enterprise
Question 16 1 / 1 point
Which of the following are Porter's three generic strategies? (select all that apply)
A) cost leadership
D) competitive advantage
Question 17 0 / 1 point
Which of the following is exemplified by customers finding a different way to get the product or service?
A) customer disloyalty
B) threat of substitute product or services
C) rivalry among competitors
D) barriers to entry
Question 18 0 / 1 point
True or False: According to Michael Porter, the Internet has the effect of lowering overall profitability.
Question 19 1 / 1 point
A strategic information system is one that attempts to do one or more of the following: (select all that apply)
A) help an organization focus on a specific market segment
B) deliver a product or a service at a lower cost
C) enable innovation
D) deliver a product or service that is differentiated
Question 20 1 / 1 point
True or False: The data show that IT has reduced the differences among companies.
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