IFSM 300 UMUC Quiz 1 (Questions & Answers) Rated 100% Correct!!

A strategic information system is one that attempts to do one or more of the following: (select all that apply) - *help an organization focus on a specific market segment *deliver a product or a service at a lower cost *enable innovation *deliver a product or service that is differentiated 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 Are there any direct variables that have no effect on a business' competitive position? - No Highly qualified vendors, consultants, and IT departments are the most important elements for the successful implementation of enterprise technologies. - False 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 True or False: According to Michael Porter, the Internet has the effect of lowering overall profitability. - True 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 True or False: The data show that IT has reduced the differences among companies. - FalseWeb 2.0 is exemplified by which of the following? (select all that apply) - Blogging, social networking, interactive comments Which of the following are components of an information system? (select all that apply) - Data, Hardware, People, Process, Software Which of the following are the two primary methods for obtaining competitive advantage described by Michael Porter? - *cost advantage *differentiation advantage Which of the following groups of variables are all direct variables? - supplier, customers, employees, location 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 is defined as the ability of customers to drive down the price of goods and services? - buyer power or the bargaining power of customers Which of the following is exemplified by customers finding a different way to get the product or service? - threat of substitute product or services 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 firstlevel managers.Which use of the Internet could have a negative impact on a company's competitive position? - allowing potential customers to find possible substitute products