Week 4 PL (when 2-3)

What is Business Process Reengineering (BPR)?

• A marketing strategy

• A strategy for improving employee satisfaction

• A financial analysis technique

• A method for redesigning business processes

Answer explanation

Business Process Reengineering (BPR) is a method for redesigning business processes to improve efficiency and effectiveness, making 'A method for redesigning business processes' the correct choice.

What does Customer Relationship Management (CRM) focus on?

• Managing financial resources

• Enhancing employee productivity

• Streamlining supply chain operations

• Improving customer loyalty and retention

Answer explanation

Customer Relationship Management (CRM) primarily focuses on improving customer loyalty and retention by managing interactions and relationships with customers, ensuring their needs are met and fostering long-term engagement.

What is the primary function of the Chief Information Officer (CIO)?

• Overseeing financial audits

• Managing human resources

• Developing marketing campaigns

• Ensuring strategic alignment of IT with business goals

Answer explanation

The primary function of the Chief Information Officer (CIO) is ensuring strategic alignment of IT with business goals, which is crucial for leveraging technology to support and drive organizational objectives.

What is a critical success factor (CSF)?

• A measure of employee performance

• A crucial step for achieving business goals

• A financial metric

• A marketing strategy

Answer explanation

A critical success factor (CSF) is a crucial step for achieving business goals, as it identifies key areas that must be focused on to ensure success in an organization.

What is the main focus of supply chain management (SCM)?

• Developing marketing strategies

• Tracking financial performance

• Optimizing the flow of goods and services

• Managing employee relations

Answer explanation

The main focus of supply chain management (SCM) is optimizing the flow of goods and services. This involves managing the entire supply chain process to ensure efficiency and effectiveness in delivering products to customers.

What is a dynamic process in business?

• A process that is only used for financial reporting

• A process that is static

• A process that is continuously changing

• A process that remains unchanged

Answer explanation

A dynamic process in business refers to one that is continuously changing, adapting to new information, market conditions, and internal factors. This flexibility is essential for growth and competitiveness.

Which of the following best describes a Key Performance Indicator (KPI)?

• A strategy for increasing sales

• A method for tracking customer complaints

• A metric used to evaluate success in achieving objectives

• A tool for measuring employee satisfaction

Answer explanation

A Key Performance Indicator (KPI) is specifically a metric used to evaluate success in achieving objectives, making it essential for measuring progress and performance in various areas.

What is the purpose of Enterprise Resource Planning (ERP)?

• To integrate all departments into a single system

• 
  To manage customer interactions

• To track financial transactions

• 
  To oversee production processes

Answer explanation

The purpose of Enterprise Resource Planning (ERP) is to integrate all departments into a single system, allowing for streamlined processes and improved data sharing across the organization.

What does CRM stand for?

• Customer Relationship Management

• Cash Resource Management

• 
  Corporate Resource Management

• Customer Revenue Managemen

Answer explanation

CRM stands for Customer Relationship Management, which focuses on managing a company's interactions with current and potential customers. This choice is correct as it accurately defines the acronym.