Which of the following is defined as the ability of customers to drive down the price of goods and services? Are there any direct variables that have no effect on a business' competitive position? Which of the following are components of an information system? (select all that apply) According to the Five Forces Model developed by Harvard Business professor Michael Porter, all of the following are major factors that determine a company's standing in an industry, except for which one? True or false: Early research could not draw any connections between IT and profitability, but later research has shown that the impact can be positive Web 2

1. Which of the following is defined as the ability of customers to drive down the price of goods and services?

buyer power or the bargaining power of customers

2. Are there any direct variables that have no effect on a business' competitive position?

No

3. Which of the following are components of an information system? (select all that apply)

Data, Hardware, People, Process, Software

4. According to the Five Forces Model developed by Harvard Business professor Michael Porter, all of the following are major factors that determine a company's standing in an industry, except for which one?

Political and/or economic factors

5. True or false: Early research could not draw any connections between IT and profitability, but later research has shown that the impact can be positive

True

6. Web 2.0 is exemplified by which of the following? (select all that apply)

Blogging, social networking, interactive comments

7. Which use of the Internet could have a negative impact on a company's competitive position?

allowing potential customers to find possible substitute products

8. In a business like Walmart, which of the following groups of variables has the most impact on their competitive position?

suppliers, customers, location, employees

9. Of the following, which factor is least crucial to the ability of a company to maintain its competitive position?

Employees benefits

10. Which of the following statements are true of Decision Support Systems (DSS)? (select all that apply)

*A decision support system (DSS) is an information system built to help an organization make a specific decision or set of decisions
*DSSs are designed to take inputs regarding a known (or partially-known) decision-making process and provide the information necessary to make a decision.
*DSSs can exist at different levels of decision-making with the organization, from the CEO to the first-level managers.

11. Which of the following is defined as a series of activities undertaken by the company to produce a product or service?

value chain

12. Which of the following groups of variables are all direct variables?

supplier, customers, employees, location

13. Which of the following are the two primary methods for obtaining competitive advantage described by Michael Porter?

*cost advantage
*differentiation advantage

14. Highly qualified vendors, consultants, and IT departments are the most important elements for the successful implementation of enterprise
    technologies.

False

15. Which of the following is exemplified by customers finding a different way to get the product or service?

threat of substitute product or services

16. True or False: According to Michael Porter, the Internet has the effect of lowering overall profitability.

True

17. True or False: The data show that IT has reduced the differences among companies.

False

18. A strategic information system is one that attempts to do one or more of the following: (select all that apply)

*help an organization focus on a specific market segment
*deliver a product or a service at a lower cost
*enable innovation
*deliver a product or service that is differentiated