CIS 105 - 3.17 Module 3 Quiz

What are some negative implications of over-confidence bias? (select all that apply)

• Missed deadlines

• Persistence

• Not paying heed to new information

• Presumption of having control over a situation

The “planning fallacy” describes:

• The tendency for people to place too much faith in one's own knowledge and abilities.

• The tendency for people to behave as if they might have some control, when in fact they actually have none.

• The tendency for people to underestimate their rate of work, or overestimate how long it will take them to get things done.

• The tendency for people to overestimate their rate of work, or underestimate how long it will take them to get things done.

______ are far more scalable than ________ and ________, since they do not incur physical inventory costs.

• firms providing digital products and services; physical retailers; internet retailers

• physical retailers; internet retailers; brick-and-mortar reailers

• physical retailers; internet retailers; firms providing digital products and services

• brick-and-mortar reailers; physical retailers; internet retailers

The organizational activities that are required to produce goods or services are known as:

• Operations

• Supply Chain

• Channeling

• Logistics

Coordinating and enabling the flow of goods, people, information, and other resources among locations is known as:

• Operations

• Channeling

• Logistics

• Supply Chain

_____________ is when the ownership of companies, other business organizations, or their operating units are transferred or consolidated with other entities.

• Merger and Acquisition

• Insourcing

• Vertical Intergration

• Outsourcing

The Initial Public Offering (IPO) is when a firm sells stock for the first time, and the company gains cash to fuel expansion.

• True

• False

In the fashion Industry, the power of buyers is ______, whereas the power of suppliers is fairly _____.

• high; low

• increasing; constant

• low; high

• decreasing; constant

Firms enjoy scale economies when they are able to leverage the cost of an investment across decreasing units of production.

• False

• True

______________ is when a single firm owns several layers in its value chain.

• Contract Manufacturing

• Horizontal Integration

• Disintermediation

• Vertical Integration