Deck 2: Decisions and Processes: Value Driven Business

Question 1

Analytics is the science of fact-based decision making.

Answer 1

True
Explanation: Analytics is the science of fact-based decision making.

Question 2

The structure of a typical organization is similar to a pyramid, with different levels that require one consistent type of information to assist with all managerial decision making.

Answer 2

False
Explanation: The structure of a typical organization is similar to a pyramid, with different levels that require different types of information to assist decision making, problem solving, and opportunity capturing.

Question 3

A project is a temporary activity a company undertakes to create a unique product, service, or result.

Answer 3

True
Explanation: A project is a temporary activity a company undertakes to create a unique product, service, or result.

Question 4

At the operational level, employees develop, control, and maintain core business activities required to run the day-to-day operations.

Question 5

Strategic decisions are highly structured decisions.

Question 6

Asking how many employees are out sick is a type of operational question.

Question 7

One of the most important and challenging questions confronting managers today is how to lay the foundation for tomorrow's success while competing to win in today's business environment.

Question 8

The proportion of the market that a firm captures is called market share.

Question 9

Operational decisions, or semistructured decisions, arise in situations where established processes offer potential solutions.

Question 10

Metrics are temporary activities a company undertakes to create a unique product, service, or result.

Question 11

At the strategic decision-making level, employees develop, control, and maintain core business activities.

Question 12

Metrics are measurements that evaluate results to determine whether a project is meeting its goals.

Question 13

Effectiveness MIS metrics include throughput, transaction speed, and system availability.

Question 14

Key performance indicators can focus on external and internal measurements.

Question 15

At the operational level, employees are continuously evaluating company operations to hone the firm's abilities to identify, adapt to, and leverage change.

Question 16

Return on investment indicates the earning power of a project.

Question 17

Measuring the amount of website traffic is the best way to determine an organization's success.

Question 18

Efficiency MIS metrics include throughput, speed, and availability.

Question 19

Unstructured decisions occur in situations in which no procedures or rules exist to guide decision makers towards the correct choice.

Question 20

Operational decisions are considered structured decisions.

Question 21

Digital dashboards offer consolidation, drill-down, and slice-and-dice capabilities.

Question 22

Source documents are simplified representation or abstraction of reality.

Question 23

Managers use transactional information when making structured decisions at the operational level.

Question 24

Effectiveness MIS metrics measure the impact MIS has on business processes and activities, including customer satisfaction and customer conversion rates.

Question 25

Visualization produces graphical displays of patterns and complex relationships in large amounts of data.

Question 26

MIS support systems rely on models for computational and analytical routines that mathematically express relationships among variables.

Question 27

Source documents are the original transaction records.

Question 28

Intelligent systems are various commercial applications of artificial intelligence.

Question 29

A neural network is a category of efficiency metrics that attempts to measure the way the human brain works.

Question 30

A digital dashboard produces graphical displays of patterns and complex relationships in large amounts of data.

Question 31

Granularity refers to the level of detail in the model or the decision-making process.

Question 32

A pivot rotates data to display alternative presentations of the data.

Question 33

The manipulation of information to create business intelligence in support of strategic decision making is referred to as OLTP or online transaction processing.

Question 34

Sensitivity analysis, what-if analysis, optimization analysis, and market basket analysis are the common DSS analysis techniques.

Question 35

Streamlining information encompasses all of the information contained within a single business process or unit of work, and its primary purpose is to support the performing of daily operational or structured decisions.

Question 36

Best practices are the most successful solutions or problem-solving methods that have been developed by a specific organization or industry.

Question 37

Benchmarks are baseline values the system seeks to attain.

Question 38

Efficiency MIS metrics measure the impact MIS has on business processes and activities, including customer satisfaction and customer conversion rates.

Question 39

A consolidation rotates data to display alternative presentations of the data.

Question 40

A model is a simplified representation or abstraction of reality.

Question 41

Google Glass is a work environment that is not located in any one physical space.

Question 42

Virtual reality is the viewing of the physical world with computer-generated layers of information added to it.

Question 43

Fuzzy logic is the process within a genetic algorithm of randomly trying combinations and evaluating the success (or failure) of the outcome.

Question 44

Mutation is the process within a genetic algorithm of randomly trying combinations and evaluating the success (or failure) of the outcome.

Question 45

Investment companies use genetic effectiveness metrics to help in trading decisions.

Question 46

Augmented reality is a wearable computer with an optical head-mounted display (OHMD).

Question 47

A shopping bot is one of the simplest examples of an intelligent agent.

Question 48

A virtual workplace is a work environment that is not located in any one physical space.

Question 49

Virtual workplace is the viewing of the physical world with computer-generated layers of information added to it.

Question 50

Fuzzy logic is a mathematical method of handling imprecise or subjective information.

Question 51

Augmented reality is the viewing of the physical world with computer-generated layers of information added to it.

Question 52

Neural networks use technology allowing humans to interact with a computer through bodily sensations and movements-for example, a cell phone vibrating in your pocket.

Question 53

Mutation is a mathematical method of handling imprecise or subjective information.

Question 54

Business-facing processes or back-office processes are invisible to the external customer but essential to the effective management and operation of the business.

Question 55

When evaluating the 5 steps in the order-to-delivery business process, step one includes creating a campaign and checking inventory, which are both part of the human resources function.

Question 56

Virtual reality is a computer-simulated environment that can be a simulation of the real world or an imaginary world.

Question 57

Improving the efficiency and effectiveness of its business processes will improve a firm's value chain.

Question 58

Google glass is a wearable computer with an optical head-mounted display (OHMD).

Question 59

Augmented reality is a computer-simulated environment that can be a simulation of the real world or an imaginary world.

Question 60

A haptic interface is primarily implemented and applied in virtual reality environments and is used in virtual workplaces to enable employees to shake hands, demonstrate products, and collaborate on projects.

Question 61

To-Be process models show the results of applying change improvement opportunities to the current (As-Is) process model.

Question 62

A Business Process Model and Notation (BPMN) flow displays the path in which the process flows.

Question 63

A Business Process Model and Notation (BPMN) event is a task in a business process.

Question 64

Core processes are patents that protect a specific set of procedures for conducting a particular business activity.

Question 65

Business Process Model and Notation (BPMN) is a graphical notation that depicts the steps in a business process.

Question 66

Product delivery is a customer-facing business process.

Question 67

A Business Process Model and Notation (BPMN) event is anything that happens during the course of a business process.An event is represented by a circle in a business process model.

Question 68

Strategic planning is a customer-facing business process.

Question 69

A Business Process Model and Notation (BPMN) activity is a task in a business process.

Question 70

A dynamic process is continuously changing and provides business solutions to ever-changing business operations.

Question 71

As the business and its strategies change, so do the dynamic processes.Examples of dynamic processes include managing layoffs of employees, changing order levels based on currency rates, and canceling business travel due to extreme weather.

Question 72

Core processes are business processes, such as manufacturing goods, selling products, and providing services, that make up the primary activities in a value chain.

Question 73

A business management system is a graphic description of a process, showing the sequence of process tasks, which is developed for a specific purpose and from a selected viewpoint.

Question 74

Examples of static processes include running payroll, calculating taxes, and creating financial statements.

Question 75

A static process is continuously changing and provides business solutions to ever-changing business operations.

Question 76

A business process patent is a patent that protects a specific set of procedures for conducting a particular business activity.

Question 77

A Business Process Model and Notation (BPMN) flow is anything that happens during the course of a business process.An event is represented by a circle in a business process model.

Question 78

A Business Process Model and Notation (BPMN) gateway is used to control the flow of a process.

Question 79

Examples of dynamic processes include running payroll, calculating taxes, and creating financial statements.

Question 80

A static process uses a systematic approach in an attempt to improve business effectiveness and efficiency continuously.Managers constantly attempt to optimize static process.