Lesson 5 Quiz

What are the basic categories of technology

• Hardware and input devices

• Software and storage devices

• Software devices and hardware

• Hardware and Software

What is information?

• Data that has a particular meaning within a specific context

• Information with a particular meaning within a specific context

• Data that has no particular meaning

• None of the above

Processed ______________________ is also called ______________, while the most raw elements of facts and figures are known as ______________.

• Data; Knowledge; Information

• Information; Data; Knowledge

• Information; Knowledge; Data

• Knowledge; Data; Information

Which of these is NOT a component of an Information System

• Hardware & Software

• Storage

• People

• Procedure

What is the main purpose of Porter’s Five Forces Model?

• Inform investment appraisal decisions

• Decide which products to launch

• Manage product portfolios

• Analyse competition in a market

According to Porter, which of the following is most important to achieving a competitive advantage?

• Operating at lower cost, commanding a premium price, or both

• Outsourcing activities which enhance/refine your competitive advantage

• Focusing on becoming the most competitive business within the sector/market

• Serving all customers equally, rather than targeting the most profitable

Can you identify which of the following forces does not form part of Porter’s Competitive Position Analysis?

• Supplier power

• Competitive rivalry

• Threat of new entry

• Buyer power

• Risk of losses

What is likely to happen if many new businesses enter a market?

• Barriers to entry will rise

• Industry capacity will fall

• Industry profits will increase

• Competitive rivalry will intensify

A market will usually be more difficult to enter if there is:

• Patented or proprietary know-how

• Wide access to distribution channels

• Low brand loyalty

• Common technology

Which of these situations is likely to cause high bargaining power of suppliers?

• Many alternative sources of supply

• Many customers with low brand loyalty

• Resource inputs are not essential to product quality

• A few large suppliers dominate the market supply