QUIZ 1 MGT 300 CHAPTER 1 & 2

Why do students need to study information technology?

• A. Information technology is everywhere in business

• B. Information technology is rarely discussed in business magazines

• C. Information technology is rarely used in organizations

• D. Information technology is found in only a few businesses

What is a field concerned with the use of technology in managing and processing information?

• A. Information technology

• B. Management information systems

• C. Technology’s role in business

• D. Technology’s impact on business

What is the business function receiving the greatest benefit from information technology??

• A. Sales and marketing

• B. Human resources

• C. Operations management

• D. Customer service

Which of the following is the most common information technology project goal?

• A. Global expansion

• B. Reduce costs/improve productivity

• C. Streamline supply chain

• D. Generate growth

What is a general name for the business function and academic discipline covering the application of people, technologies, and procedures to solve business problems?

• A. Information technology

• B. Management information systems

• C. Technology’s role in business

• D. Technology’s impact on business

What does the Five Forces Model help determine the relative attractiveness of?

• A. An organization

• B. A company

• C. An industry

• D. An investment

Which of the following forces is commonly reduced through the use of a loyalty program?

• A. Buyer power

• B. Supplier power

• C. Threat of new entrants

• D. Rivalry among existing competitors

Which of the following represents buyer power in Porter’s Five Forces Model?

• A. Low when buyers have many choices of whom to buy from and high when their choices are few

• B. High when buyers have many choices of whom to buy from and low when their choices are few

• C. Low when buyers have many customers of whom to buy from and low when their customers are few

• D. High when buyers have many customers of whom to buy from and low when their customers are few

What is a business-to-business (B2B) marketplace in which a single buyer posts its needs and then opens the bidding to any supplier who would care to bid?

• A. Reverse auction

• B. Private exchange

• C. Private auction

• D. Reverse exchange

Which of the following is an example of the way that information technology can reduce supplier power for an organization?

• A. Switching costs

• B. Reverse auction

• C. Entry barrier

• D. Loyalty program