Business 110 mid term

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BUSINESS 110- Section 001/Fall 2014 Midterm Exam October 22, 2014 (12:01 PM) Due Date: October 29, 2014 (11:59 PM) INSTRUCTIONS: You are permitted to use your textbook and class notes. If you use any other reference, please make sure you disclose the source. Paragraphs, essays, solutions/answers lifted from all other sources (including your friend(s) or group member(s) in class) will not be graded and a score of zero may be attributed to the corresponding exercise or the whole exam. Your submission must reflect your own individual work. Makeup exams for the midterm will not be an available option. The Lateness Factor for the midterm is: l𝒇 = (πŸ—. 𝟎 βˆ’ π’π’π’πŸ (𝒉))/𝟏𝟏, π’˜π’˜π’˜π’˜π’˜ 𝒉 π’Šπ’Š 𝒕𝒕𝒕 𝒏𝒏𝒏𝒏𝒏𝒏 𝒐𝒐𝒐𝒐𝒐𝒐𝒐 𝒍𝒍𝒍𝒍 For submission guidelines, please see the BONUS exercise. Attempt all exercises for a total of 100 points and 10 bonus points. Good luck. Exercise 1 [25 Points] Porter's Five Forces Model is an easy framework to understand and offers a quick way to analyze a market. Choose one product from the following list and perform a Porter’s Five Forces analysis: β€’ β€’ Desktop Computers (PCs) Traditional College Textbooks For each of the 5 forces in the model, you must identify the force level (Low, Medium, and High) and provide arguments to support your answer. Exercise 2 [25 Points] As a student, you have encountered several processes in your interactions with LIU (the overall institutions) and its various colleges, departments, and offices. Based on your own personal experience, identify an LIU process, which you believe is either inefficient or ineffective. Briefly describe the process and discuss the issues you have encountered. Are the issues related to efficiency or effectiveness or both? How would you change the process to make it more efficient or more effective? Would you use new technology? Explain. Finally, draw the current β€œAs-Is” process flowchart and the β€œTo-Be” process. Exercise 2 [25 Points] Consider the Broadway CafΓ© described in MIS Case I and your role as the new Chief Executive Officer of the business. You have realized the need to introduce technology to support your decision making. As a result, you have started envisioning a Decision Support System (using Excel) which will help you implement your goals of turning around the business, objectives, and strategy as outlined in your recommendations of MIS Case I. Do the following: β€’ β€’ β€’ β€’ Briefly Define critical success factors (CSFs) and key performance indicators (KPIs), and explain how managers use them to measure the success of MIS projects. Identify and formulate two CSFs for the Broadway cafΓ©. Formulate two KPIs for each of the CSFs you have identified above. DO NOT provide more than 2 KPIs for each of your CSFs. Select one of the 4 KPIs you have identified and describe the information or data that should be collected. Exercise 3 [5 Points] The following statements identify the primary differences between disruptive and sustaining technologies. Fill in the blank with either Disruptive or Sustaining. β€’ ________ technologies redefine the competitive playing fields of their respective markets β€’ ________ technologies tend to provide us with better, faster, and cheaper products in established markets β€’ ________ technologies tend to open new markets and destroy old ones β€’ ________ technologies virtually never lead in markets opened by new and disruptive technologies β€’ ________ technologies typically cut into the low end of the marketplace and eventually evolve to displace high-end competitors and their reigning technologies Exercise 4 [20 points] BUSINESS SCENARIO: Cheryl S. is the operations manager for Nature's Bread Company, which specializes in providing natural products for health-conscious individuals. Cheryl is responsible for compiling, analyzing, and evaluating daily sales numbers to determine the company's profitability and forecast production for the next day. This scenario applies to Questions 1, 2, and 3. 1. Which of the following is an example of a piece of data Cheryl would be using to successfully perform her job? A. Craig Newmark is customer number 15467. B. Compare the costs of supplies, including energy, over the last five years to determine the best- selling product by month. C. Best-selling product by day. D. Best-selling product changes when Tony, the best baker, is working. 2. Which of the following is an example of the type of information Cheryl would be using to successfully perform her job? A. Craig Newmark is customer number 15467. B. Compare the costs of supplies, including energy, over the last five years to determine the best- selling product by month. C. Best-selling product by day. D. Best-selling product changes when Tony, the best baker, is working. 3. Cheryl is responsible for compiling, analyzing, and evaluating daily sales numbers to determine the company's profitability and forecast production for the next day. Which of the following is an example of knowledge that Cheryl would be using to successfully perform her job? A. Craig Newmark is customer number 5467. B. Trina Hauger is customer 45673AA-3. C. Best-selling product by day. D. Best-selling product changes when Tony, the best baker, is working. 4. If you were thinking about a home theater system, which of the following represents the inputs? A. The DVD player, DVD movie, speakers, TV, and electricity. B. Playing the movie, including the audio, through the speakers and the video on TV. C. A message stating that the disk is dirty and cannot be played. D. Spinning the disk to play, pause, rewind, or fast forward. 5. If you were thinking about a home theater system, which of the following represents the outputs? A. The DVD player, DVD movie, speakers, TV, and electricity. B. Playing the movie, including the audio, through the speakers and the video on TV. C. A message stating that the disk is dirty and cannot be played. D. Spinning the disk to play, pause, rewind, or fast forward. 6. If you were thinking about a home theater system, which of the following represents the process? A. The DVD player, DVD movie, speakers, TV, and electricity. B. Playing the movie, including the audio, through the speakers and the video on the TV. C. A message stating that the disk is dirty and cannot be played. D. Spinning the disk to play, pause, rewind, or fast forward. 7. If you were thinking about a home theater system, which of the following represents the feedback? A. The DVD player, DVD movie, speakers, TV, and electricity. B. Playing the movie, including the audio, through the speakers and the video on the TV. C. A message stating that the disk is dirty and cannot be played. D. Spinning the disk to play, pause, rewind, or fast forward. 8. As the product manager for the eatery division at Whole Foods, Jerry is responsible for analyzing sales data to help him manage his team. Today, Jerry is analyzing his data using many different perspectives to identify different ways to improve his division. Which of the following common digital dashboard capabilities is Jerry using to analyze his department's success? A. Slice-and-dice B. Competitive tables C. Drill-down D. Consolidation 9. As the product manager for the eatery division at Whole Foods, Jerry is responsible for analyzing sales data to help him manage his team. Today, Jerry is analyzing his data using aggregation techniques allowing him to see simple roll-ups to complex groupings of interrelated information. Which of the following common digital dashboard capabilities is Jerry using to analyze his departments success? A. Slice-and-dice B. Competitive tables C. Drill-down D. Consolidation 10. As the product manager for the eatery division at Whole Foods, Jerry is responsible for analyzing sales data to help him manage his team. Today, Jerry is analyzing his data by looking at details, and details of details, of information. Which of the following common digital dashboard capabilities is Jerry using to analyze his departments success? A. Slice-and-dice B. Competitive tables C. Drill-down D. Consolidation BONUS Exercise [10 BONUS Points] β€’ β€’ Your Google drive contains a shared folder labeled BUS110-fall2014- First Name-Last Name which is accessible through your email account at my.liu.edu. Compile your solutions/answers to all exercises in one single word document with extension .doc or .docx and give your document the following name: BUS110-fall2014- β€’ β€’ midterm-fisrtname-lastname. Submitting more than one document will not be accepted. Upload your document by the deadline inside your folder for BUS 110. Your Google drive folder is already shared with me using this email: ghriga@gmail.com. Make sure that the midterm is shared. NOTE: if you submit your solutions on paper or email or any other medium other than specified above, the bonus points will be zero. If you submit more than one document with your answers to the midterm, the bonus points will be forfeited.
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