GB 310 exam 3 lester

A firm can benefit from high switching costs, even when rivals offer free products.

true

a ___ is the symbolic embodiment off all information connected with a product or service

brand

Benefits related to a firm's size are referred to as?

scale advantages

commodities are products or services that vary across multiple vendors?

False

Consumers buying commodities are highly ___ since they have so many similar choices

price-focused

Dell, previously the world's number one PC manufacturer, has seen its market share shrink because of rivals copying its value chain and reducing the price advantage it enjoyed over rivals. Dell's present struggles:

underscores the importance of continually assessing a firm's strategic position among changing market conditions

Leveraging consumers to promote a product or service is known as _____.

viral marketing

Moving first pays off when the time lead is used to create:

critical resources for competitive advantage.

the degree to which complete information is available is known as?

price transparency

The set of activities through which a product or service is created and delivered to customers is known as a(n) _____.

value chain

Sales in Apple's app store are so large, that they would be ranked as a Fortune 500 firm if the figure were broken out as a firm separate from Apple.

true

A recent report in Forbes suggests that what percent of firms are failing at digital transformation?

72%

Some of the radical changes brought about by new technologies include:

the creation of an unprecedented set of security and espionage threats

Crowdsourcing tools and question-and-answer sites like ___ allow firm's to reach out for expertise beyond their organization.

Quora

which area of corporate law is connected to technology?

Privacy, patents, and intellectual property

A firm's financial performance that consistently outperforms its industry's peers is known as _____.

sustainable competitive advantage

The _____ problem exists when rivals watch a pioneer's efforts, learn from their successes and missteps, and then enter the market quickly with a comparable or superior product at a lower cost.

fast follower

Firms like Blockbuster, Sotheby's, and Barnes & Noble were put at risk by operating under the following platitude:

Follow, don't lead

How does the internet typically impact price transparency and information asymmetry?

price transparency increases while information asymmetry decreases

Amazon was started by:

Jeff Bezos

A PC, laptop, or any other small computer can be set up to run server software.

true

A data cube refers to a:

A special database used to store data in OLAP reporting.

achieving success in a project rarely lies in the strength of technology alone.

true

a firm's information systems can influence the likelihood of partnering with other firms and it's attractiveness as a merger or acquisition target

true

All SQL databases are relational databases.

true

computer hardware refers to

the physical components of information technology

Computer-driven investment models can be very effective when the market behaves as it has in the past. However, in terms of historical consistency, they are vulnerable to failure in the face of:

black swans

Data becomes _____ when it is presented in a context so that it can answer a question or support decision-making.

information

Firms that base decisions on hunches are said to be gambling, not managing.

true

in database systems, a table is also known as a __

file

small graphs that are created to offer simple visuals clues about data graphed?

sparklines

what are the 3 types of spaklines?

line, column, win/loss

sparklines automatically print with the worksheet.

true

rules created to help visual see data with color

conditional formating

when using conditional formating, you can create your own rules?

yes

conditional formatting rules can be applied to?

specific data ranges, text, cells/blanks, & duplicate vaules

Excel sheet can print in both portrait or landscape

true

Excel sheets print to landscape by default

false, portrait

what does a pivottable in excel primarily create?

A way to reorganize data in tables for further analysis.

someone experienced using pivottables should create a pivottable by?

selecting create pivottables button

the field used to measure and compare data in a pivottable?

columns

the field for data you want to analyze in a pivottable?

rows

the field containing the values a table uses for comparison in a pivottable?

values

an optional field used to sort data in a pivottable?

filter

what is the most accurate definition of an Excel Macro?

A way to record a sequence of keystrokes and actions in Excel.

where is the stop a Marco recording button located?

View Tab

what are the complete steps to take to record a Marco in Excel?

view tab>Marcos button>name the Marco>record steps>stop recording

what are the complete steps taken in a Marco to add filters to the column headers?

start macro recording>click data tab>select filter button>stop recording

what is the definition of a function in Excel?

A formula exists in Excel to easily and quickly make specific types of calculations.

What tab is selected to see specific types of functions at a glance

formulas tab

VLOOKUP function

looks up leftmost value in a vertical lookup table and returns a related result from the lookup table

HLOOKUP function

looks for a value in the topmost row of a table and returns a value in the same row from the horizontal column you define

taking an IF function and adding more than 1 logic test inside the IF function?

Nested IF

Returns TRUE when all arguments are true and FALSE when at least one argument is false.

AND function

returns treu if any of the arguments are true

OR function

added to a formula if it errors out?

IFERROR

what does the PMT function do?

Calculates the payment for a loan based on the given time frame for repayment

What does the PV function do?

Calculates the present value or the starting value of a loan when it was taken out originally.