IFSM 300 UMUC Quiz 1 2022 questions and answers
Which of the following is defined as the ability of customers to drive down the price of
goods and services? - buyer power or the bargaining power of customers
Are there any direct variables that have no effect on a business' competitive position? -
No
Which of the following are components of an information system? (select all that apply) -
Data, Hardware, People, Process, Software
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? - Political and/or economic factors
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 - True
Web 2.0 is exemplified by which of the following? (select all that apply) - Blogging,
social networking, interactive comments
Which use of the Internet could have a negative impact on a company's competitive
position? - allowing potential customers to find possible substitute products
In a business like Walmart, which of the following groups of variables has the most
impact on their competitive position? - suppliers, customers, location, employees
Of the following, which factor is least crucial to the ability of a company to maintain its
competitive position? - Employees benefits
Which of the following statements are true of Decision Support Systems (DSS)? (select
all that apply) - *A decision support system (DSS) is an information system built to help
an organization make a specific decision or set of decisions
*DSSs are designed to take inputs regarding a known (or partially-known) decision-
making process and provide the information necessary to make a decision.
*DSSs can exist at different levels of decision-making with the organization, from the
CEO to the first-level managers.
Which of the following is defined as a series of activities undertaken by the company to
produce a product or service? - value chain
Which of the following groups of variables are all direct variables? - supplier, customers,
employees, location
Which of the following are the two primary methods for obtaining competitive advantage
described by Michael Porter? - *cost advantage
Which of the following is defined as the ability of customers to drive down the price of
goods and services? - buyer power or the bargaining power of customers
Are there any direct variables that have no effect on a business' competitive position? -
No
Which of the following are components of an information system? (select all that apply) -
Data, Hardware, People, Process, Software
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? - Political and/or economic factors
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 - True
Web 2.0 is exemplified by which of the following? (select all that apply) - Blogging,
social networking, interactive comments
Which use of the Internet could have a negative impact on a company's competitive
position? - allowing potential customers to find possible substitute products
In a business like Walmart, which of the following groups of variables has the most
impact on their competitive position? - suppliers, customers, location, employees
Of the following, which factor is least crucial to the ability of a company to maintain its
competitive position? - Employees benefits
Which of the following statements are true of Decision Support Systems (DSS)? (select
all that apply) - *A decision support system (DSS) is an information system built to help
an organization make a specific decision or set of decisions
*DSSs are designed to take inputs regarding a known (or partially-known) decision-
making process and provide the information necessary to make a decision.
*DSSs can exist at different levels of decision-making with the organization, from the
CEO to the first-level managers.
Which of the following is defined as a series of activities undertaken by the company to
produce a product or service? - value chain
Which of the following groups of variables are all direct variables? - supplier, customers,
employees, location
Which of the following are the two primary methods for obtaining competitive advantage
described by Michael Porter? - *cost advantage
