Examples of Essay Questions for Exam1
1). Describe the four steps taken in solving a business problem.(A process, not an event) * Problem identification (is to understand what kind of problem exists). * Solution design (is to design solutions to the problems you have identified) * Solution evaluation and choice (choosing the “best” solution for your business firm) * Implementation (the best solution is one that can be implemented, including building the solution and introducing it into the organization)
2) What is the difference between information technology and information systems? Describe some of the functions of information systems. Information technology is the use of computer hardware, software and associated technologies to process data and achieves company’s business objectives. Some examples of information technologies include mobile computer devices such as PDAs as well as online banking software. Information technology can be thought of essentially as a way of implementation and management of computer information systems.
Information system is a computerized set of interrelated tools and procedures that collect and store data, and produce information. Main function of the information system is transforming the data into meaningful information and as a result supporting the decision making process. An information system can be for instance collecting employees’ personal details, bank account details and the amount of hours worked and turning it into monthly payroll and tax payments. Another example is paying bills online where the information about payment request such as amount, date and account details is collected, processed and sent to the correct bank account.
3) The department chain you work for has had numerous complaints about slow customer service. Your colleague, a sales manager, informs you that this happened at a previous store she worked for, and it was cleared up by hiring more sales representatives. Should you take her advice? Why not? What techniques can you use in evaluating the problem?
The advice should not be taken, as it is a rush to judgment, which could mean that the wrong solution is used, wasting time and resources. You should ask the colleague to employ critical thinking. Critical thinking is sustained suspension of judgment with an awareness of multiple perspectives and alternatives. It involves at least four elements: • Maintaining doubt and suspending judgment
• Being aware of different perspectives
• Testing alternatives and letting experience guide
• Being aware of organizational and personal limitations
1) Identify the different types of systems used for the different levels of management in a business. * Senior management (ESS executive support systems)
* Middle management scientists and knowledge workers (MIS management information systems DSS decision-support systems KMS knowledge management systems) * Operational management production and service workers data workers (TPS transaction processing systems) 2) How can a good CRM system increase profits for a company? Cost reduction
a strong point in Customer Relationship Management is that it is making the customer a partner in your business, not just a subject. As customers are doing their own order entry, and are empowered to find the info they need to come to a buy decision, less order entry and customer support staff is needed. More repeat business
the repeat business is coming from the delighted customers, who are turned from doubting clients into loyal advocates. More new business
If you are delivering the ultimate customer experience, this will seed the word-of-mouth buzz, which will spawn more new business. 3) Define and give an example of a cross-functional business process within a firm. Cross functional business process is a specification may terminate in many different ways and some of those ways may involve failure. For example, the business process...
Explain TPS, OSS, KWS, DSS, MIS, ESS, find in order associated to these systems from Internet and find how a lot of companies provide such type of system about the globe. Name top 5 companies who provide such system also enlist the capability of these systems. Match up to different vendor who provide each type of systems with high opinion to the functionalities and capability of these system.
Transaction Processing Systems (TPS) are basic business systems that carry out and support daily routine transactions at level I (please see Preface for foreword to Requisite association, if you are not familiar with the notion of requisite band). Examples of such system include order giving out system or machine control. TPS support the majority big business function in most connection and are often very serious for the big business
Office Automation Systems (OAS) is under fire at meeting the knowledge needs of statistics workers who are concerned in information use, manipulation or distribution. Typical OAS handles and manages documents, preparation and communication. They support work at the lowly two strata.
Knowledge Work Systems (KWS) are information systems that aid information workers in the creation and integration of new information at strata II−III. Examples of KWS include various knowledge bases, knowledge-intensive teamwork systems and design workstations.
Management Information Systems (MIS) serve the functions of preparation,...
...Asking questions does obtaining objective knowledge and gaining an understanding. Questions are asked through guided reason and language.
2. Is Socrates against nature, or following it? Please draw examples from Aristophanes’ The Clouds and the relevant Platonic Dialogues.
In the four dialogues, Socrates professes that he is for nature in different ways. He describes nature and human nature. He believed that human nature involves reasoning and consisted of metaphysical concepts. In Aristophanes’ “The Clouds,” Socrates states that he believes that the Gods are not the ones who produce rain and thunder but rather nature. He then continues to elaborate and explain to Strepsiades, who misunderstands him. In Plato’s Euthyphro, Euthyphro believes his father committed a murder, and is discussing this with Socrates. Socrates then goes on to say that the idea of human life being dependent on the Gods is against human nature. In the reading of Crito, Socrates demonstrates a different way of human nature. Crito and Socrates have a conversation in regards of Crito helping Socrates escape from jail, but Socrates refuses to do so. He states that we must use our reason because it is a part of a human nature. He states that he may have been convicted for a crime that he believes he has not committed but he says if I go anywhere else, I will be living in fear. He wants to do right by the law and the government.
3. Does Socrates use the “unjust” speech? In...
...decimal place in accordance with generally
accepted financial practice) of less than the effective interest cost of the Offered
Bonds (similarly calculated) or through the operation of the Maintenance and Replacement Fund.
What does this excerpt tell the investor about provisions of this issuer to pay off this issue prior to the stated maturity date?
The issuer (Cincinnati Gas Electric) does not plan to default or refinance these loans before May 1, 1995. The only reason they would default these bonds is if their yearly interest cost of the bond is less than the effective interest cost. This means the only reason default would occur is if the coupon payment exceeds the yearly interest of the bond.
4. Explain the following questions.
a. What is the difference between a term repo and an overnight repo?
In a term repo a bank will agree to buy securities from a dealer and then resell them a short time later at a preset price and a preset rate. Term repurchase agreements are used as a short-term cash-investment alternative. An overnight repo is the practice in which a bank or other financial institution buys securities with the proviso that the seller repurchases the same securities the following day.
b. What is an accelerated sinking fund provision?
This is a way to have quicker repayment of a bond before the maturity date. Essentially a accelerated sinking fund provision requires the issuer to retire more than the sinking fund amount...
February 19, 2014
Professor: Caldwell Christopher
Chapter 4 Questions
1. What role do values play in making ethical decision?
Answer: honesty, don’t deceive, cheat, or steal. Consider how you feel when someone lies to you. Being honest not only means telling the truth, but also giving the relevant information.
Fairness being fair means acting without prejudice or favoritism. Be fair in your dealings with coworkers, customers, and supervisors. Listen to others. Respect others. Respect cultural differences and diversity in the workplace. Try to understand difference in opinions and find common ground and consensus in decision making. Take responsibility and accountable for your duties and actions. Be kind and considerate toward others. Use manners. Show understanding and caring for your coworkers.
2. What is the difference between laws and ethical standards?
Answer: laws and ethical standards may be similar, they are not the same. It is illegal to jaywalk, or cross the street in a reckless and irresponsible way, but there is nothing unethical about this behavior. Similarly, it is not illegal, but it is unethical, to take credit for work that someone else has done.
3. What are the characteristics of an ethical organization?
Answer: several characteristics distinguish ethical organizations. They include being environmentally responsible, promoting diversity within the organization, providing a safe environment for workers,...
...overstatement of sales returns.
2) Estimation of sales commission expense by multiplying net revenue by average commission rate and comparison of recorded sales commission expense. The potential misstatement is that the under-or overstatement of sales commission expense and related accrual.
3) Comparison of gross profit percentage by product line with previous years and industry data. The possible misstatement detected would be unrecorded (understated) revenue.
4) Analysis of the ratio of sales in the last month or week to total sales for the quarter or year. The possible misstatement detected would be product-pricing problems.
Prepare the “Shipments” segment of Taylor’s internal control questionnaire.
Questions Yes No
Does the department have a budget review and reconciliation process?
Are there reports submitted to management that monitor the number of coats sold, returned and ordered
Has the company had activity experienced of any mysterious disappearances of assets, theft or employee dishonesty during the last three years?
Are the departmental signature authorization records and online approval hierarchies up to date?
Have any employees re-delegated signature authorizations that were delegated to them?
What controls are in place to ensure accuracy of the order?
Are insurance coverage, overlaps, duplications etc. reviewed?
List the key...
...* Question 1
1 out of 1 points
| If I am a local student (citizen or permanent resident of Australia) and am doing a single professional engineering degree course (i.e. not a double degree), I can 'opt out' of having to do the Diploma of Engineering Practice if I want to. True of False?Answer | | | |
Response Feedback: | That's right! |
| | | |
* Question 2
0 out of 1 points
| For DipEngPrac students, you must start your first internship prior to completing [a] credit points of subjects. If you exceed this but have not completed more than [b] credit points, you will get a warning email. If you exceed [c] credit points, you will not be allowed to continue studying until you have completed your first internship (i.e. you will be un-enrolled from all subjects). You must not start your second internship until you have completed at least [d] credit points. | | | |
Response Feedback: | The correct answers are in section 6 of the Engineering Practice Program Student Guide. |
| | | |
* Question 3
0 out of 1 points
| Match the following requirements from the engineering practice program with the appropriate reason as to why this requirement exists and is enforcedAnswer | | | |
| Question |
Students must complete their first internship before accumulating 87cp of subjects |
Students must not commence their second internship...
Assignment ‐ I
Assignment Code: 2014GM13A1 Last Date of Submission: 15th April 2014
Maximum Marks: 100
Attempt all the questions. All the questions are compulsory and carry equal marks.
Search through recent newspaper and magazines to find an inspiring story of an
Entrepreneur. Prepare short note on Entrepreneur.
Distinguish between creativity, innovation, and entrepreneurship. Is new business ‘idea’
essential for entrepreneurial success?
Investigate a local business for sale. Try to estimate how much it would cost to set up a
similar business from scratch, and then compare it with the benefits and disadvantages
in buying this existing business.
List various types of information that may be needed for writing a business plan.
Shahnaz Husain is acknowledged as one of the most successful women entrepreneurs in India.
Her company, Shahnaz Husain Herbals, is one of the leading manufacturers of herbal products
in the world. The company sells over 350 herbal products and operates over 200 salons in more
than 130 countries. The brand 'Shahnaz Husain' was valued at over $100 million in 1996, and
now, it is likely to be worth much more.
Shahnaz is from an aristocratic ...