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UMUC IFSM300 module 1 quizzes

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Quiz 1.1: MitiTech;For best results, maximize this window.;Directions:Test your knowledge of MitiTech's business process by selecting the best answer for each of the following questions. When you click the Submit button, you will see your score and the results will go to your instructor.;Select the model that best depicts MitiTech's business model. Remember, the width of the arrow indicates the degree of impact a factor has on the organization. For example, a thick arrow from Competition to Business would indicate that the competition has a large impact on MitiTech. However, as indicated in the case, MitiTech has no real competitors at this point, so that would not be a correct part of its business model.;a.Choice a;b.Choice b;c.Choice c;d.Choice d;Directions: For the next four questions, assume that we are using arrows for indirect variables, just as we do for direct variables. Select the arrow that would best represent the impact of each of the following indirect variables on MitiTech's business model.;Government regulations;a.GovernmentMitiTechGovernment has a little impact on MitiTech, and MitiTech has no impact on governmentb.GovernmentMitiTechGovernment and MitiTech have a moderate impact on each otherc.GovernmentMitiTechGovernment has no impact on MitiTech, MitiTech has a little impact on governmentd.GovernmentMitiTechGovernment has a great deal of impact on MitiTech, and MitiTech has no impact on governmente.GovernmentMitiTechGovernment and MitiTech have a high degree of impact on each other;Politics;a.PoliticsMitiTechPolitics has a little impact on MitiTech, and MitiTech has no impact on politicsb.PoliticsMitiTechPolitics and MitiTech have a moderate impact on each otherc.PoliticsMitiTechPolitics has a moderate impact on MitiTech, and MitiTech has no impact on politicsd.PoliticsMitiTechPolitics has no impact on MitiTech, and MitiTech has a great deal of impact on politicse.PoliticsMitiTechPolitics and MitiTech have a little impact on each other;Ethics;a.EthicsMitiTechEthics has a little impact on MitiTech, and MitiTech has no impact on ethicsb.EthicsMitiTechEthics has no impact on MitiTech, and MitiTech has a moderate impact on ethicsc.EthicsMitiTechEthics has a significant impact on MitiTech, and MitiTech has no impact on ethicsd.EthicsMitiTechEthics has a moderate impact on MitiTech, and MitiTech has no impact on ethicse.EthicsMitiTechEthics and MitiTech have a moderate impact on each other;Environment;a.MitiTechEnvironmentMitiTech has a little impact on the environment, and the environment has no impact on MitiTechb.MitiTechEnvironmentThe environment has a moderate impact on MitiTech, and MitiTech has no impact on the environmentc.MitiTechEnvironmentMitiTech has a significant impact on the environment, and the environment has no impact on MitiTechd.MitiTechEnvironmentMitiTech has a moderate impact on the environment, and the environment has no impact on MitiTeche.MitiTechEnvironmentMitiTech and the environment have a moderate impact on each other;Time;How has time affected the Safetydrape product?;a. The time dimension has not affected Safetydrape at all.b. The time dimension has had a huge effect on Safetydrape because of recent world events.c. The manufacturer of Safetydrape will be out of business in two years because the product will be obsolete.d. Safetydrape will never become obsolete.;Technology;Did new technology have a significant effect on MitiTech?;a. Of course. The material used in the drapes is a modern miracle fiber that can withstand huge blasts without breaking and was not available before.b. Yes, because the fasteners used to hang the drapes are made from a previously unknown material.c. No, because the product is the application of technology that has existed for years but has been applied differently.d. Yes, because before safety drapes were needed, there were no bombs.;Quiz 2;Quiz 1.2: Competitive Forces Model;For best results, maximize this window.;Directions:Test your knowledge of this topic by selecting the best answer for each of the following questions. When you click the Submit button, you will see your score and the results will go to your instructor. You may want to refer to the general business model from earlier in the module for these questions.;General Business Model;generalBusinessModelsmall;Let's think about MitiTech.;Which of the direct variables help MitiTech with its competitive position?;a. customers and ownersb. suppliers and customersc. competition and customersd. competition and suppliers;Information about which factors isnotcrucial to MitiTech's ability to maintain its competitive position?;a. emerging new technologies that create new productsb. patent infringementsc. employees' benefitsd. new markets based on terrorist activity;Which use of the Internet could have a negative impact on MitiTech's competitive position?;a. allowing potential customers to learn about MitiTech's products and test resultsb. providing an easy method to facilitate product orders to flow to the suppliersc. allowing potential customers to find potential substitute productsd. allowing MitiTech to monitor patent infringement by other companies;Which of the following indirect variables has no impact on MitiTech?;a. government regulationsb. ethicsc. politicsd. none of the above;Are there any direct variables that have no effect on a business's competitive position?;a. yesb. no;Quiz 3;Quiz 1.3: Comfy Chair Company;For best results, maximize this window.;Resumable Quiz, Question 1 of 3;How This Quiz Works;Directions:Test your knowledge of this topic by selecting the best answer for each of the following questions. You will use the Comfy Chair Company model for these questions. (Important:Do notclick the Reset button in the model before entering new data,since the correct answers assume that you have correctly completed the quiz preparation steps and the model is in that configuration.) Start this quiz after completing step 2 in the Quiz Preparation box in the Commentary. Double check that you show 20,000 units, insurance costs of $150,000, and a profit of $279,700 before continuing. You may find it helpful to print out each version of the model as you go along to keep track of your answers, since each question builds on the previous one. When you click the Submit button, you will see your score and the results will go to your instructor.;After each question, you will receive feedback and the correct answers. It is important to update your financial model before moving on to the next question. Quiz 1.3 has three questions, so be sure to submit all three of your answers. If you leave the quiz and return before submitting the last answer, the quiz will resume with the next question.;1. The sales department tells management that they can increase revenue by 20 percent by increasing sales 20 percent, but the production department says that to achieve that number of units, they will have to buy a new piece of equipment that will add $200,000 to the appropriate category. What happens when we enter those changes into our model? (Enter a new number in Enter Units that reflects a 20 percent increase in chairs sold. Increase Manufacturing Machinery to allow for the new purchase.) Clearly, a 20 percent increase in sales will increase revenue 20 percent, but what happens to profits?;a. Profits decrease 25 percent.b. Profits increase 41 percent.c. Profits decrease 41 percent.d. Profits do not change.;2. Management believes they can increase the price per chair by 10 percent in this new situation and improve profits by 10 percent. However, the sales department cautions that the price increase may decrease sales by 10 percent because the chairs will be higher-priced than the competition. Because the chair business uses price as one of its major competitive factors, the sales department feels that sales will be hurt. Using our model, what will happen to profits if both of their forecasts are correct?;a. Profits increase 12.5 percent.b. Profits decrease 11.3 percent.c. Profits increase 6.7 percent.d. Profits increase 7.4 percent.;3. The chief information officer recommends that a new computer and software be purchased and installed at a cost of $100,000. This investment will decrease manpower costs by $4 per chair and shipping and handling by $2 per chair, which he says should result in an increase in profits of 10 percent. Will the purchase of the new computer and software result in increased profits, and if so, by how much?;a. Yes, by 12.6 percent.b. No, by -9.8 percent.c. Yes, by 22.6 percent.d. Yes, by 7 percent.;Quiz 1.4;Quiz 1.4: Booz Allen Hamilton Model;For best results, maximize this window.;Resumable Quiz, Question 1 of 3;How This Quiz Works;Directions:Test your knowledge of this topic by selecting the best answer for each of the following questions. You will use the Booz Allen Hamilton model for these questions.(Important:Donotclick the Reset button in the model before entering new data.)Start this quiz after completing step 2 in the Quiz Preparation box in the Commentary. When you click the Submit button, you will see your score and the results will go to your instructor.;After each question, you will receive feedback and the correct answers. It is important to update your financial model before moving on to the next question. Quiz 1.4 has 3 questions, so be sure to submit all three answers. If you leave the quiz and return before submitting the last answer, the quiz will resume with the next question.;1. The sales department tells management that they can increase revenue by 20 percent by increasing sales 20 percent. However, the scheduling department says that to achieve that number of hours, they will have to buy upgraded software for $200,000 that will allow for better scheduling of staff hours between engagements. Management says that there is no need for a new computer program, because to increase capacity and keep the contribution margin and price the same, they can increase capacity by hiring more consultants. Because they are constantly adding new consultants, there are no incremental hiring costs. What happens to profits when we enter a new total number of hours sold to reflect the increase into our model? What happens to the risk at BAH vs. Comfy Chair?do you think the strategy of hiring more consultants rather than investing in new equipment is a higher or lower risk than Comfy Chair's strategy of investing in equipment? In order to successfully complete the remaining questions, use this information to update the financial model before proceeding to the next question. For each subsequent question, also insert the correct information if you did not answer correctly.;a. Profits increase 63.5 percent, and BAH's risk is higher.b. Profits increase 22.4 percent, and BAH's risk is lower.c. Profits increase 38.2 percent, and BAH's risk is higher.d. Profits increase 38.2 percent, and BAH's risk is lower.;2. Management believes that they can increase the price per hour by 10 percent in this new situation and improve profits by 10 percent, but the sales department cautions that the price increase may decrease sales by 15 percent because they will be higher-priced than the competition (and they are in a highly competitive business, as seen in the business model). Management says that sales will not decrease because in the consulting business, firms do not compete on price but rather on reputation, results achieved, and customer satisfaction. A higher price in the consulting business could imply that they are better than the competition. Using our model, what will happen to profits if both of their forecasts are correct? Whose forecast is probably correct? (Note: You need to calculate both scenarios?management?s price increase with no change in overall sales, and look at profits, and then sales? prediction that total sales will decrease with the price-per-hour increase. Compare the results, and select your answer from the four choices.);a. sales: profits decrease 22.4 percentb. management: profits increase 49.2 percentc. sales: profits increase 5.4 percentd. management: profits increase 41.5 percent;3. The chief information officer recommends that a new computer and software costing $100,000 be purchased and installed because it will decrease administrative costs by $4 per hour and management allocation by $2 per hour, resulting in a 10 percent increase in profits. Will this change have the desired effect on profit?;a. yesb. no;Quiz 5;Quiz 1.5: MitiTech's Value Chain;For best results, maximize this window.;Directions:Test your knowledge of this topic by selecting the best answer for each of the following questions. Refer to theMitiTech business modelfor these questions. When you click the Submit button, you will see your score and the results will go to your instructor.;To ensure that its supply chain can handle a surge in demand, MitiTech should;a. hire additional manufacturing employeesb. modify its design to speed up production timec. expand its network of suppliers;What type of information must MitiTech's suppliers have to fulfill an order?;a. a copy of the customer's invoiceb. a purchase requisition with the specifications for the order, delivery location, and datec. installation instructionsd. transportation routes;What is required of MitiTech to maintain and strengthen the ongoing relationship with its suppliers?;a. prompt payment to suppliersb. specifications for each orderc. notice of any special circumstances or requirements for a given orderd. all of the above;Considering the competitive forces model, what information should MitiTechnotcommunicate to the external parts of its value chain?;a. product specificationsb. customer name and addressc. customer pricingd. order-fulfillment date;Which of the following market changes could dramatically impact MitiTech's supply chain, creating a need for a quick response?;a. competing product with the same certifications and effectiveness levelb. small price change in Safetydrape fabricc. one supplier of component parts goes out of businessd. expiration of patent protectione. both a and d

 

Paper#35723 | Written in 18-Jul-2015

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