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The Victory Wireless store in Denver is currently offering a fabulous marketing strategy for potential new iPhone customers.Victory Wireless offers customers who purchase an iPhone with a 2-year subscription a free Otter phone case, car charger, earphones, and speakers.In terms of Porter's Five Forces, what is Victory Wireless attempting to achieve with this marketing strategy?


A) increase buyer power
B) increase substitute products
C) decrease supplier power
D) decrease buyer power

E) B) and C)
F) A) and D)

Correct Answer

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What is the primary responsibility of the CTO?


A) overseeing all uses of MIS
B) ensuring the security of business systems
C) ensuring speed, accuracy, and reliability for MIS
D) collecting and distributing company information

E) A) and B)
F) None of the above

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Value chain analysis views a firm as a series of business processes that each adds value to the product or service.

A) True
B) False

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What is the Internet of Things?


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

E) None of the above
F) A) and D)

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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

E) None of the above
F) A) and D)

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Where would you categorize opportunities in a SWOT analysis?


A) internal, helpful
B) internal, harmful
C) external, helpful
D) external, harmful

E) None of the above
F) A) and D)

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Which of the following is not a core driver of the information age?


A) information
B) knowledge
C) Internet of Things
D) data

E) B) and C)
F) None of the above

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What is information?


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

E) B) and C)
F) A) and D)

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Which group of stakeholder's primary interests include adhering to regulations/laws, increasing employment, and ethical taxation reporting?


A) partners/suppliers
B) shareholders/investors
C) community
D) government

E) B) and C)
F) B) and D)

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Your boss has asked you to analyze the soft drink industry using Porter's five forces model.Which of the following represents buyer power in the soft drink industry?


A) Pepsi requires stores that carry Pepsi products to commit to minimum orders of 1,000 cases.
B) Walmart negotiates a lower cost per bottle from Coke in exchange for premium shelf space in every Walmart store.
C) Zevia Natural Diet Soda begins selling directly over the Internet.
D) Coke and Pepsi submit bids to the owner of a football stadium for the exclusive sale of their products during games.

E) A) and D)
F) A) and C)

Correct Answer

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An overview of systems thinking includes input, process, output, and finances.

A) True
B) False

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Which of the following represents a reason why competitive advantages are typically temporary?


A) The competitor will hire away your key employees.
B) The competitor quickly seeks ways to duplicate your business operations.
C) The competitor will purchase new technology.
D) All of these are correct.

E) A) and B)
F) A) and C)

Correct Answer

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Lettuce, tomatoes, patty, bun, and ketchup are included in the output of making a hamburger.

A) True
B) False

Correct Answer

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According to Porter, companies that wish to dominate broad markets should operate using a ________ strategy.


A) cost leadership with a low cost
B) differentiation with a low cost
C) cost leadership with a high cost
D) All of these are correct.

E) C) and D)
F) A) and D)

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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

E) B) and C)
F) C) and D)

Correct Answer

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Your boss has asked you to analyze the soft drink industry using Porter's five forces model.Which of the following represents supplier power in the soft drink industry?


A) Pepsi requires stores that carry Pepsi products to commit to minimum orders of 1,000 cases.
B) Walmart negotiates a lower cost per bottle from Coke in exchange for premium shelf space in every Walmart store.
C) Zevia Natural Diet Soda begins selling directly over the Internet.
D) vitamin water, fruit juice, coffee

E) B) and D)
F) None of the above

Correct Answer

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The finance department performs the function of selling goods or services.

A) True
B) False

Correct Answer

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Productivity is the rate at which goods and services are produced based upon total output given total inputs.

A) True
B) False

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Describe the information age and the differences between data, information, business intelligence, and knowledge.

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We live in the information age, when inf...

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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

E) A) and C)
F) All of the above

Correct Answer

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