Title: Exam 1
Course: KVCC BUS203 > Section: Assessments

Chapter 1

Question 1

The book talks about having Job Security and there is a quote in that section that says the following “the only job security that exists is a marketable skill and the courage to use it” Answer the following questions based on this quote:

1.       Do you agree or disagree with this statement? Why/Why not?

2.       Describe four marketable skills that you possess (Should be separate from the list below). Why do these separate you from the pack and make you marketable?

3.       The book lists four skills that it considers critical for the modern worker, they are:

a.       Abstract Thinking

b.       Systems Thinking

c.       Collaboration

d.       Ability to experiment

1.     Your task is to define each and then give an example of how developing this skill will benefit you in your career.

4.       What is your current level of development on each of the above areas?

5.       Do you agree that possessing these skills will benefit you in your career?

6.       Finally, what other skills do you currently not have that you would like to obtain before you graduate from college? What is your plan to attain them?

Question 2

In this class we are talking about information systems and how they can benefit a business. Answer the following questions on information systems.

1. Create your own definition of an information system.

2. Describe the five parts of an information system.

a. Hardware

b. Software

c. Data

d. Procedures

e. People

3. Write a scenario that includes all of the above parts as an example to describe them further.

4. Why do you think information systems are important?

5. What considerations should be made before selecting an information system?

6. The book discusses management information systems and describes two benefits that of management and use and achieving strategies. Define each and give an example.

Chapter 2.

Question 3

In chapter two we discussed Business Processes answer the following questions:

1. What is a business process? Give an example?

2. What does it mean for a process to be effective? Give an example?

3. What does efficiency mean? Again give an example?

4. How can information systems improve process quality?

5. Give a scenario that illustrates your answer above.

Question 4: Information systems are all centered around the concept of collecting and managing data. Answer the following questions.

1. In your own words define information.

2. The book lists the following characteristics that are necessary for quality information, they are:

a. Accurate

b. Timely

c. Relevant

d. Just Barely sufficient

e. Worth its cost

Define each item.

3. Give an example of each of the above items

4. How would you ensure that your data fulfills these requirements?

5. Which requirements do you think are more important? Which are least?

6. What would you add to these requirements? Why? (Nothing is not an option)

Chapter 3

Question 5

The chapter begins by discussing Porters five forces model. Answer the following questions:

1. The five forces are:

a.       Competitive

i.                   Competition from vendors or substitutes

ii.                 Competition from new competitors

iii.               Competition from existing rivals

b.       Bargaining power

i.                   Bargaining power of suppliers

ii.                 Bargaining power of customers

c.      Describe what each of these means.

2. Select a business and then do an analysis involving each of the forces.

3. Rank the above scenario from weak to strong risks and describe why you gave those rankings?

4. In your opinion does this model work as a tool to assess a business? Why/Why not, be specific?

5. What additional considerations should be added to this model?

Question 6: The remainder of the chapter discusses competitive strategy and advantage. Answer the following questions:

1.       What is competitive strategy?

2.       Describe each of the four parts?

a.       Cost – Industry Wide

b.       Cost – Focused on a segment

c.       Differentiation – Industry Wide

d.       Differentiation – Focused on a segment

3.      Define competitive advantage?

4.       The book lists the following items:

a.       Product implementation

i.                   Create a new product or service

ii.                 Enhance products or services

iii.               Differentiate products or services

b.       Process implementation

i.                   Lock in customers and buyers

ii.                 Lock in suppliers

iii.               Raise barriers to market entry

iv.               Establish alliances

v.                 Reduce costs

c..     Define each of these above items

5.       Give an example of each?

6.       In your opinion in the modern business environment which of these are the most important? Why?

Attached Files: | - KVCC BUS203_BusinessSysInt_Asessment 1(3).pdf