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Fdocuments - Bank test chapter 1 business systems
Human Resources Information Systems (HRM 1030)
George Brown College
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Link download full: Solution Manual for Business
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Chapter 01 Test Bank
Student:_________________________________________________________________
The Internet of Things (IoT) is a world where interconnected, Internet-enabled devices or "things" can collect and share data without human intervention. True False
Machine to machine (M2M) refers to devices that connect directly to other devices. True False
The Internet of Things refers to devices that connect directly to ot her devices. True False
Machine to machine (M2M) extracts information from data and uses it to predict future trends and identify behavioral patterns. True False
Companies today are successful when they combine the power of the information age with traditional business methods. True False
The information age is the present time, during which infinite quantities of facts are widely available to anyone who can use a computer. True False
A fact is the confirmation or validation of an event or object. In the past, people primarily learned facts from books. True False
Zappos is not a technology company; its primary business focus is to sell books. True False
Order date, amount sold, and customer number are all forms of data. True False
Choosing not to fire a sales representative who is underperforming, knowing that person is experiencing family problems, is a form of knowledge. True False
Top managers use social intelligence to define the future of the business, analyzing markets, industries, and economies to determine the strategic direction the company must follow to remain unprofitable. True False
Business intelligence is information collected from multiple sources such as suppliers, customers, competitors, partners, and industries that analyzes patterns, trends, and relationships for strategic decision making. True False
A variable is a business intelligence characteristic that stands for a value that cannot change over time. True False
People using the same information can make different decisions depending on how they interpret or analyze the information. True False
Knowledge workers are individuals valued for their ability to mitigate risk and implement critical human resource rules and regulations. True False
Predictive analytics extracts information from data and uses it to predict future trends and identify behavioral patterns. True False
Top managers use predictive analytics to define the future of the business, analyzing markets, industries, and economies to determine the strategic direction the company must follow to remain profitable. True False
Predictive analytics is a world where interconnected, Internet- enabled devices or “things” can collect and share data without human intervention. True False
Using only data and information to make decisions and solve problems is the key to finding success in business. These are also the only core drivers of the information age and the building blocks of business systems. True False
The finance department performs the function of selling goods or services. True False
The marketing department supports sales by planning, pricing, and promoting goods or services. True False
The business decisions made by the human resources department include potential customer data, sales report data, commission data, and customer su pport data. True False
The business decisions made by the accounting department include manufacturing data, distribution data, and production data. True False
Waiting tables, teaching, and cutting hair are all examples of services that people pay for to fulfill a need. True False
An overview of systems thinking includes input, process, output, and finances. True False
MIS is a tool that is most valuable when it leverages the talents of people who know how to use and manage it effectively. True False
The chief technology officer is responsible for ensuring the security of business systems and developing strategies and safeguards against attacks from hackers and viruses. True False
The chief security officer is responsible for ensuring the security of business systems and developing strategies and safeguards against attacks from hackers and viruses. True False
The chief technology officer is responsible for ensuring the speed, accuracy, availability, and reliability for MIS. True False
The chief privacy officer is responsible for ensuring the ethical and legal use of information within a company. True False
The chief knowledge officer is responsible for overseeing all uses of MIS and ensuring that MIS strategically aligns with business goals and objectives. True False
The chief knowledge officer is responsible for collecting, maintaining, and distributing company knowledge. True False
Goods are material items or products that customers will buy to satisfy a want or need. True False
Cars, groceries, and clothing are all examples of goods. True False
Production is the process where a business takes raw materials and processes them or converts them into a finished product for its goods or services. Tru e False
Productivity is the rate at which goods and services are produced based upon total output given total inputs. True False
Lettuce, tomatoes, patty, bun, and ketchup are included in the output of making a hamburger. True False
Cooking a patty and putting the ingredients together are included in the process of making a hamburger. True False
Bread, cheese, and butter are included in the process of making a grilled cheese sandwich. True False
A grilled cheese sandwich is considered the final output of a making- a-sandwich process. True False
If a business could produce the same hamburger with less expensive inputs it would probably see a decrease in profits. True False
If a business could produce more hamburgers with the same inputs it would see a rise in productivity and possibly an increase in profits. True False
To combat business challenges, leaders communicate and execute business strategies, a term deriving from the Greek word stratus for army and ago for leading. True False
A stakeholder is a person or group that has an interest or concern in an organization. Stakeholders drive business strategies, and depending on the stakeholder's perspective, the business strategy can change. True False
It is not uncommon to find stakeholders' business strategies have conflicting interests such as investors looking to increase profits by eliminating employee jobs. True False
A leadership plan that achieves a specific set of goals or objectives is a business strategy. True False
Companies update business strategies continuously as internal and external environments change. True False
Competitive advantages provide the same product or service either at a lower price or with additional value that can fetch premium prices.
In a SWOT analysis, potential internal weaknesses are harmful when they identify all key areas that require improvement. Weaknesses focus on the absence of certain strengths, including absence of an Internet marketing plan, damaged reputation, problem areas for service, outdated technology, employee issues, and so on. True False
In a SWOT analysis, potential external opportunities are helpful when they identify all significant trends along with how the organization can benefit from each, including new markets, additional customer groups, legal changes, innovative technologies, population changes, competitor issues, and so on. True False
In a SWOT analysis, potential external threats are harmful when they identify all threats or risks detrimental to your organization, including new market entrants, substitute products, employee turnover, differentiating products, shrinking markets, adverse changes in regulations, economic shifts, and so on. True False
Mark Peterson identified the Porter’s Five Forces Model which analyzes the competitive forces within a business environment. True False
Porter's Five Forces Model outlines the process for a sales strategy. True False
With the Five Forces Model, companies should watch the forces in the market. If the forces are strong, competition generally increases, and if the forces are weak, competition typically decreases. True False
There are many challenges to changing doctors, including transferring medical records and losing the doctor patient relationship along with the doctor’s knowledge of the patient’s history. Changing doctors provides a great example of switching costs. True False
Buyer power is the ability of buyers to affect the price they must pay for an item. True False
Supplier power is one of Porter's five forces and it measures the suppliers' ability to influence the prices they charge for supplies (including materials, labor, and services). True False
Polaroid had a unique competitive advantage for many years until it forgot to observe competitive intelligence. The firm went bankrupt when people began taking digital pictures. Polaroid provides a great example of Porter's supplier power. True False
The threat of substitute products or services refers to the power of competitors to enter a new market. True False
Rivalry among existing competitors refers to the ability of buyers to affect the price they must pay for an item. True False
The threat of substitute products or services refers to the power of customers to purchase alternatives. True False
Product differentiation occurs when a company develops unique differences in its products or services with the intent to influence demand. True False
Porter has identified three generic business strategies including focused, broad cost leadership, and switching strategy. True False
According to Porter’s three generic strategies, Walmart is following a business strategy that focuses on broad market and low cost. True False
According to Porter it is recommended to adopt only one of the three generic strategies. True False
Buyer power is included as one of Porter's three generic strategies. True False
Tiffany & Company competes in the marketplace by offering high-cost custom jewelry. Tiffany & Company is following a broad market and cost leadership strategy. True False
Value chain analysis views a firm as a series of business processes that each adds value to the product or service. True False
A standardized set of activities that accomplish a specific task is called a supply chain component. True False
The value chain will group a company's activities into two categories: primary value activities and support value activities. True False
A business process is a standardized set of activities that accomplish a specific task, such as processing a customer's order. True False
A primary value activity is a standardized set of activities that accomplish a specific task, such as processing a customer's order. True False
Inbound logistics and operations are part of the primary value activities. True False
C. Zappos D. Amazon
Which of the following is not a technology company but used technology to revamp the business process of renting videos? A. Netflix B. Dell C. Zappos D. Amazon
___________ is a world where interconnected, Internet-enabled devices or “things” can collect and share data without human intervention. A. Internet of Things B. Predictive Analytics C. Machine to Machine D. Flat World
_________ refers to devices that connect directly to other devices. A. Internet of Things B. Predictive analytics C. Machine to machine D. Flat world
Which of the following is not a technology company but used technology to revamp the business process of selling shoes? A. Netflix B. Dell C. Zappos D. Amazon
Which of the following is the key term that defines the confirmation or validation of an event or object? A. buyer power B. data C. fact D. entry barrier
What is data converted into a meaningful and useful context? A. competitive intelligence B. information C. buyer power D. first-mover advantage
Which of the following is not considered a core driver of the information age? A. information B. usiness Intelligence C. competitive Intelligence D. data
Which of the following is not considered a core driver of the information age? A. information B. business Intelligence C. knowledge D. variables
Which of the following is considered a core driver of the information age? A. fact B. goods C. competitive Intelligence D. data
Which of the following is considered a core driver of the information age? A. information B. business intelligence C. knowledge D. All of these are correct.
Which of the following is considered information? A. quantity sold B. date sold C. best-selling item by month D. product sold
Which of the following is considered data? A. quantity sold B. best customer by month C. best-selling item by month D. worst selling item by month
Cheryl is the operations manager for Nature’s Bread Company, which specializes in providing natural products for health conscious individuals. Cheryl is responsible for compiling, analyzing, and evaluating daily sales numbers to determine the company’s profitability and forecast production for the next day. Which of the following is an example of a piece of data Cheryl would be using to successfully perform her job? A. Craig Newmark is customer number 15467. B. compare the costs of supplies including energy over the last five years to determine the best-selling product by month C. best-selling product by day D. Best-selling product changes when Tony the best baker is working.
Cheryl is the operations manager for Nature’s Bread Company, which specializes in providing natural products for health conscious individuals. Cheryl is responsible for compiling, analyzing, and evaluating daily sales numbers to determine the company’s profitability and forecast production for the next day. Which of the following is an example of the type of information Cheryl would be using to successfully perform her job? A. Craig Newmark is customer number 15467. B. Flour Power is supplier number 8745643. C. best-selling product by day D. Best-selling product changes when Tony the best baker is working.
Cheryl is the operations manager for Nature’s Bread Company, which specializes in providing natural products for health conscious individuals. Cheryl is responsible for compiling, analyzing, and evaluating daily sales numbers to determine the company’s profitability and forecast production for the next day. Which of the following is an example of knowledge that Cheryl would be using to successfully perform her job?
Information is data converted into useful, meaningful context. What are data characteristics that change or vary over time? A. facts B. variables C. supplies D. services
Business intelligence is information collected from multiple sources. Which of the following provides an example of a source that would be included in business intelligence? A. suppliers B. customers C. competitors D. All of these are correct.
Which of the following represents the definition of a variable? A. a data characteristic that is collected through competitive intelligence and cannot change over time B. a data characteristic that stands for a value that changes or varies over time C. a data characteristic that stands for a value that does not change or vary over time D. a data characteristic that is collected only through competitive intelligence and can change over time
________ extracts information from data and uses it to predict future trends and identify behavioral patterns. A. Internet of Things B. Predictive Analytics C. Machine to Machine D. Flat World
Today’s workers are referred to as _______________ and they use BI along with personal experience to make decisions based on both info rmation and intuition, a valuable resource for any company. A. knowledge workers B. knowledge thinkers C. knowledge resources D. knowledge players
What is knowledge? A. Raw facts that describe the characteristics of an event or object. B. Data converted into a meaningful and useful context. C. Information collected from multiple sources that analyzes patterns, trends, and relationships for strategic decision making. D. Skills, experience, and expertise, coupled with information and intelligence that creates a person’s intellectual resources.
Which of the following represents the core drivers of the information age? A. data, information, business intelligence, knowledge B. fact, data, intelligence, experience C. fact, intelligence, business skills, knowledge D. data, intelligence, business information, knowledge
Which of the following is not a core driver of the information age? A. information B. knowledge
C. Internet of Things D. data
What is predictive analytics? A. A world where interconnected, Internet-enabled devices or "things" can collect and share data without human intervention B. Extracts information from data and uses it to predict future trends and identify behavioral patterns C. Refers to devices that connect directly to other devices D. Opportunities to change the way people purchase books
How are the majority of companies today typically organized? A. by departments or functional areas B. by departments or financial areas C. by degree or financial areas D. by manager or knowledge area
How does the text recommend that a company operate if it wants to be successful in the information age? A. functionally independent between departments B. interdependently between departments C. together as one department with little or no independence D. each department acting as its own individual business unit
Most companies are typically organized by departments or functional areas. Which of the following is not a common department found in a company? A. accounting B. payroll C. marketing D. human resources
The sales department needs to rely on information from operations to understand _________. A. inventory B. customer orders C. demand forecasts D. All of these are correct.
Which of the following represents the department that maintains policies, plans, and procedures for the effective management of employees? A. human resources B. sales C. employee resources D. employee relations
Greg works for Geneva Steel Corporation. Greg’s duties include managing the overall processes for the company and transforming the steel resources into goods. Which department would Greg most likely work in? A. accounting B. operations management C. marketing D. CIO
Information technology can enable departments to more efficiently and effectively perform their core _____________. A. facts
C. supports sales by planning, pricing, and promoting goods or services is marketing D. relies on information from operations to understand inventory, place orders, and forecast consumer demand
Which activities belong in the finance department? A. records, measures, and reports monetary transactions B. tracks strategic financial issues, including money, banking, credit, investments, and assets C. supports sales by planning, pricing, and promoting goods or services is marketing D. relies on information from operations to understand inventory, place orders, and forecast consumer demand
Which activities belong in the marketing department? A. records, measures, and reports monetary transactions B. tracks strategic financial issues, including money, banking, credit, investments, and assets C. supports sales by planning, pricing, and promoting goods or services is marketing D. relies on information from operations to understand inventory, place orders, and forecast consumer demand
Which activities belong in the sales department? A. records, measures, and reports monetary transactions B. tracks strategic financial issues, including money, banking, credit, investments, and assets C. supports the sales by planning, pricing, and promoting goods or services is marketing D. relies on information from operations to understand inventory, place orders, and forecast consumer demand
Which activities belong in the human resources department? A. records, measures, and reports monetary transactions B. tracks strategic financial issues, including money, banking, credit, investments, and assets C. supports sales by planning, pricing, and promoting goods or services is marketing D. maintains policies, plans, and procedures for the effective management of employees
Which activities belong in the operations management department? A. records, measures, and reports monetary transactions B. manages the process of converting or transforming resources into goods or services C. supports the sales by planning, pricing, and promoting goods or services is marketing D. maintains policies, plans, and procedures for the effective management of employees
Which data types are typically found in the marketing department? A. promotion data, sales data, advertising data B. employee data, promotion data, vacation data C. investment data, monetary data, reporting data D. transactional data, purchasing data, payroll data, tax data
Which data types are typically found in the human resources department?
A. promotion data, sales data, advertising data B. employee data, promotion data, vacation data C. investment data, monetary data, reporting data D. transactional data, purchasing data, payroll data, tax data
Which data types are typically found in the finance department? A. promotion data, sales data, advertising data B. employee data, promotion data, vacation data C. investment data, monetary data, reporting data D. transactional data, purchasing data, payroll data, tax data
Which data types are typically found in the accounting department? A. promotion data, sales data, advertising data B. employee data, promotion data, vacation data C. investment data, monetary data, reporting data D. transactional data, purchasing data, payroll data, tax data
Which data types are typically found in the sales department? A. sales data, customer data, commission data, and customer support data B. employee data, promotion data, vacation data C. investment data, monetary data, reporting data D. transactional data, purchasing data, payroll data, tax data
Which data types are typically found in the operations management department? A. manufacturing data, distribution data, and production data B. sales data, customer data, commission data, and customer support data C. employee data, promotion data, vacation data D. investment data, monetary data, reporting data
Which of the following represents the relationship between functional areas in a business? A. i ndependent B. autonomous C. interdependent D. self-sufficient
Which of the following represents the types of data commonly found in the accounting department? A. tax data B. payroll data C. transactional data D. All of these are correct.
Which of the following represents the types of data commonly found in the finance department? A. monetary data B. technology data C. production data D. employee data
Which of the following represents the types of data commonly found in the human resources department? A. financial data B. technology data C. production data D. employee data
D. the rate at which goods and services are produced based upon total output given total inputs
What are services? A. material items or products that customers will buy to satisfy a want or need B. tasks performed by people that customers will buy to satisfy a want or need C. the process where a business takes raw materials and processes them or converts them into a finished product for its goods or services D. the rate at which goods and services are produced based upon total output given total inputs
What is production? A. material items or products that customers will buy to satisfy a want or need B. tasks performed by people that customers will buy to satisfy a want or need C. the process where a business takes raw materials and processes them or converts them into a finished product for its goods or services D. the rate at which goods and services are produced based upon total output given total inputs
If you were thinking about a washing machine as a system, which of the following represents the inputs? A. the dirty clothes, water, and detergent B. the clean clothes C. the wash and rinse cycle D. the light indicating that the washer is off balance and has stopped
If you were thinking about a washing machine as a system, which of the following represents the process? A. the dirty clothes, water, and detergent B. the clean clothes C. the wash and rinse cycle D. the light indicating that the washer is off balance and has stopped
If you were thinking about a washing machine as a system, which of the following represents the feedback? A. the dirty clothes, water, and detergent B. the clean clothes C. the wash and rinse cycle D. the light indicating that the washer is off balance and has stopped
If you were thinking about a washing machine as a system, which of the following represents the outputs? A. the dirty clothes, water, and detergent B. the clean clothes C. the wash and rinse cycle D. the light indicating that the washer is off balance and has stopped
If you were thinking about an oven as a system, which of the following represents the input? A. the uncooked food B. the cooked food C. a light indicating that the oven has reached the preheated temperature D. the oven running at 350 degrees for 20 minutes
If you were thinking about an oven as a system, which of the following represents the output? A. the uncooked food B. the cooked food C. a light indicating that the oven has reached the preheated temperature D. the oven running at 350 degrees for 20 minutes
If you were thinking about an oven as a system, which of the following represents the process? A. the uncooked food B. the cooked food C. a light indicating that the oven has reached the preheated temperature D. the oven running at 350 degrees for 20 minutes
If you were thinking about an oven as a system, which of the following represents the feedback? A. the uncooked food B. the cooked food C. a light indicating that the oven has reached the preheated temperature D. the oven running at 350 degrees for 20 minutes
If you were thinking about a home theater system, which of the following represents the inputs? A. the DVD player, DVD movie, speakers, TV, and electricity B. playing the movie, including the audio through the speakers and the video on the TV C. a message stating that the disk is dirty and cannot be played D. spinning the disk to play, pause, rewind, or fast forward
If you were thinking about a home theater system, which of the following represents the outputs? A. the DVD player, DVD movie, speakers, TV, and electricity B. playing the movie including the audio through the speakers and the video on the TV C. a message stating that the disk is dirty and cannot be played D. spinning the disk to play, pause, rewind, or fast forward
If you were thinking about a home theater system, which of the following represents the process? A. the DVD player, DVD movie, speakers, TV, and electricity B. playing the movie including the audio through the speakers and the video on the TV C. a message stating that the disk is dirty and cannot be played D. spinning the disk to play, pause, rewind, or fast forward
If you were thinking about a home theater system, which of the following represents the feedback? A. the DVD player, DVD movie, speakers, TV, and electricity B. playing the movie including the audio through the speakers and the video on the TV C. a message stating that the disk is dirty and cannot be played D. spinning the disk to play, pause, rewind, or fast forward
What is productivity? A. material items or products that customers will buy to satisfy a want or need B. tasks performed by people that customers will buy to satisfy a want or need
Fdocuments - Bank test chapter 1 business systems
Course: Human Resources Information Systems (HRM 1030)
University: George Brown College
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