MIS 301 Exam
We're in a golden age of tech entrepreneurship where ________________ means a startup can rent the computing resources one previously had to buy at great expense.
"The cloud" or cloud computing
Match each description with the term it describes. Products or services that add additional value to the primary product or service that makes up a network: When an increase in the number of users on one side of the market creates a rise in the other side: Benefit derived by interaction among members of a single class of participant:
Complementary benefit Cross-side exchange benefit Same-side exchange benefit
The third and fourth industry revolution. Computer Internet
Computer (3rd) Internet (4th)
When firms find themselves in situations where they are both competitors and partners, the situation is called _____.
Coopetition
Advertising can build _____, but brands are built through _____.
Customer loyalty; funding
are promotions that are not paid for or owned but rather grow organically from customer efforts or other favorable publicity.
Earned media
The three sources of value for network effects include __________, staying power, and complementary benefits.
Exchange
With _____, firms place special software on its existing PCs or servers that enable these computers to work together on a common problem.
Grid computing
Which strategy was followed by Amazon's founder?
He postponed profit harvesting.
According to the chapter, which statements apply to Palmer Luckey's founding of Oculus?
He raised money to build his product using a Kickstarter campaign. The firm was acquired by Facebook.
Which of the following factors can weaken buyer bargaining power
High switching costs
In the context of network effects, the term "network" refers to:
A common user base, utilized to communicated and shared with one another
Which of the following is an example of agency pricing?
A department store gets a cut on the selling price of a product, which is set by the product's manufacturer.
How is scale important to Netflix's streaming business?
A larger firm with more customers can spend more on content licenses.
Netflix Leveraged crowdsourcing by offering one million dollars to the first team to:
Improve accuracy of its movie recommendation by 10 percent
In order to achieve a negative cash conversion cycle a firm would want to:
Increase its account payable period and its inventory turns OR sell products quickly and pay supplier later
Complete the sentence by choosing the correct response from the drop-down list. In two decades, _________ tech sector has grown from almost nothing to a $120 billion industry.
India's
In two decades, ________ tech sector has grown from almost nothing to a $200 billion industry.
India's
A decision situation where one party has more or better information than its counterparty is known as _____.
Information asymmetry
Which of the following refers to an integrated solution that combines the five components of hardware, software, data, procedures, and people?
Information system
An organization's _____ department ensures that systems get built and keep running. It also takes on strategic roles targeted at proposing solutions for how technology can give the firm a competitive edge.
Information systems
Kevin Systrom was twenty-six when he founded the service_____
Which of the following observations is true?
Internet businesses have relatively low barriers to entry
The phrase __________ refers to the number of times inventory is sold or used during the course of a year.
Inventory turns
In retail, and the fashion industry, in particular, there is a saying: inventory =
Inventory=death?
Which statement is true of Netflix?
It has had to craft different kinds fo competitive advantages to maintain its spot as the world's largest streaming service.
Coordinating and enabling the flow of goods, people, information, and other resources among locations is known as _____.
Logistics
Match the correct definition to each term: an extremely large selection of content or products. Promotions that are not paid for or owned but rather grow organically from customer efforts or other favorable publicity. An established online presence where customers can reach and interact with the firm.
Long tail Earned media Embassy
The main idea of service-dominant logic:
Major revenue comes from service
_____ is a technique in which computers are designed with many microprocessors that work together, simultaneously, to solve problems.
Massively parallel processing
The kind of data analysis that refines Netflix algorithms is largely done via
A/B tests
Microprocessors with two or more (typically lower power) calculating processor cores on the same piece of silicon are known as:
Microprocessors
Match each description with the term it describes: Programming hooks, or guidelines, published by firms that tell other programs how to get a service to perform a task such as sending or receiving data: Direct costs such as purchase price, plus indirect costs such as training, support, and maintenance:
APIs TCO
Identify the following as being an advantage or not being an advantage of RFID systems used by Zara: can help find a product a customer wants that isn't available in store can reduce the time needed to take store inventory can eliminate the need for PoS systems can lower advertising costs
Advantage Advantage Not an advantage Not an advantage
Major part of Facebook's revenue comes from?
Advertising
refers to efforts that pay referring websites a percentage of revenue earned from a referral.
Affiliate Program
FreshDirect can leverage data by
All
Which external factor might affect the success of an online grocery store?
All of the above.
Which statement(s) regarding Linux creator Linus Torvalds and his firm are true? He is from Finland and did not develop the product in the United States. Linux is used in cell phones. Linux is used for supercomputers. Linux is considered an "open source" product.
All statements are correct.
Which of the following factors likely contributed to the failure of the Fire phone? Select all possible correct answers.
Amazon lacked network effects for its new system. Rivals benefited from significant customer switching costs. Amazon was late to the smartphone market.
Which statement is true of the Kindle?
Amazon priced early Kindle products so low that the firm did not intend to make money off hardware sales.
Which of the following factors likely contributed to the failure of the Fire phone?
Amazon was late to the smartphone market. Rivals benefited from significant customer switching costs. Amazon lacked network effects for its new system.
Amazon's fastest growing business is
Amazon web services
Tech firms are among the best performing firms in the world. According to the chapter, which firm was recognized as being both the most valuable firm in the US as well as the most profitable?
Apple
How did Apple overcome Google as the dominant mapping platform on iOS?
Apple's control of iOS gave it control of the distribution channel to reach its users, kicking google out as the default mapping app and capturing the majority of user engagement
Which of the following is one of Porter's five forces?
Bargaining power of the buyers
Which of the following is not considered a criteria necessary for crowd to be "smart":
Be related
Which statement about blogging is true?
Blog comments can be a hothouse for spam and the disgruntled.
Match each description with the term it describes: A market where there are many buyers but only one dominant seller: A market dominated by a small number of powerful sellers:
Monopoly Oligopoly
_____ has allowed Amazon to radically drop the price of Kindle offerings, while increasing device functionality.
Moore's Law
Which of the following summarizes network effects
More users = More value
Which statement is true about corporations and blogging?
CEOs use blogs for purposes that include a combination of marketing, sharing ideas, press response, image shaping, and reaching consumers directly.
The _____ is considered the brain of a computing device
Central processing unit (CPU)
While Gordon Moore's paper originally stated that Moore's Law meant a doubling of transistor density roughly every two years, and some suggest a doubling every two and a half years, the managerial definition of Moore's Law that you'll often see appearing in the trade press is: ______________________.
Chip performance per dollar doubles every 18 months
Netflix conducted a coding contest to improve _________, their collaborative filtering engine.
Cinematch
Netflix conducted a coding contest to improve ___________, their collaborative filtering engine.
Cinematch
Which term refers to a classification of software that monitors trends among customers and uses this data to personalize an individual customer's experience?
Collaborative filtering
The phenomenon of _________________________ exists when the value of a product or service increases along with a growing number of users.
Network effects
Which statement best describes the relationship between network effects and innovation?
Network effects increase innovation within a standard but decrease the number of innovative offerings that compete against a strongly established standard.
The phrase _____ is used to refer to situations in which users collaboratively work to create contents, products, and services. Examples include social media as well as service like Skype and BitTorrent.
Peer production
Which statement about Web 2.0 is true?
Peer production is leveraged to create much of the open source software that supports many of the Web 2.0 efforts.
Transaction processing systems that capture customer purchases are known as
Point-of-sale systems
Which statement concerning pricing is true?
Rivals colluding to set prices is illegal.
Which of the following refers to a feature of wikis that allows the restoring of earlier work in the event of a posting error, inaccuracy, or vandalism?
Roll back
While some debate the size of the "long tail," one fact that is critical to keep above this debate is that
Selection attracts customers and the internet allows large-selection inventory efficiencies that offline firms can't match
Which sets of interrelated forces threatens to slow down the progression of Moore's Law?
Size, heat, and power
Social media apps are taking the workplace by storm and creating billion dollar firms. Which of the following tools has grown and is primarily known as a leading workplace productivity tool?
Slack
A(n) _____ is an online community that allows users to establish a personal profile and communicate with others.
Social network
Select the accurate statement(s). 1. Uber is likely to spend more on vehicle ownership in a given city than traditional taxi firms. 2. Airbnb owns more property assets than any hotel company. 3. Facebook employs more content creators than the New York Times or any other newspaper. 4. Google earns more advertising revenue than any other media company
Statement 4
Moore's Law often is used to refer to computing that is ______ and _______ .
faster, cheaper
Apple, which controls over 75 percent of digital music sales, was able to dictate song pricing for years, despite the tremendous protests of the record labels. This implies that:
firms with strong market dominance can enjoy substantial bargaining power over partners.
One of the most popular frameworks for examining a firm's competitive environment is Porter's ______ forces.
five
Costs that do not vary according to production volume are called _____.
fixed costs
Which of the following was responsible for luring firms such as Walmart and Blockbuster into direct competition with Netflix?
The Netflix IPO
Which factor is responsible for enabling the advance of Moore's Law?
The distance between pathways inside silicon chips gets smaller with each successive generation
The phenomenon whereby firms can make money by selling a near-limitless selection of less popular products is known as _____.
The long tail
A value chain refers to
The set of activities through which a product or service is created and delivered to customers
What is "Software"?
The set of instructions that tells hardware what to do
Zara is susceptible to any disruption in northern Spain because:
it moves all of its deliveries through just two locations, both in Spain.
Although Netflix had a larger distribution network than rivals, other firms could build a similarly large warehouse network. What additional advantage made this more profitable for Netflix than newcomers
The size of the firm's customer base, which enable economies of scale.
To monitor your online presence, you might use a service like Google Alerts to track and respond to online mentions. This is an example of
To monitor your online presence, you might use a service like Google Alerts to track and respond to online mentions. This is an example of
Identify which of the following statements are true or false. FreshDirect is able to cut costs and offer fresher food through a tech-enabled supply chain by: reducing food waste: (T/F) stocking only non-perishable items. (T/F) reducing labor costs.(T/F) turning inventory over faster than traditional grocers. (T/F)
True False True True
Which is true of the tech and consulting practice associated with the accounting giant Deloitte? Consulting revenues are larger than accounting revenues (T/F) It is owned by Amazon and delivers cloud computing through AWS. (T/F) It is owned by Google. (T/F) All accounts hired must also have a degree in some technology field.(T/F)
True False False False
Which statements are true about why Zara offers limited runs of products? It reduces the impact of "guessing wrong" It increases the likelihood customers will buy products right away and at full price Customers are more likely to receive a unique design from their Zara purchase than at rival retailers It allows the firm to capitalize on its massive global advertising budget.
True True True False
Identify each statement as true or false concerning reasons that a retailer would consider selling through Amazon using Amazon fulfillment services: New customers acquired through Amazon wouldn't have to create additional account information if they already had an Amazon account Amazon will warehouse products Products can be searched for and discovered on the Amazon website Products will be available for free Prime shipping
True True True True
Identify each statement as true or false concerning potential advantages for Netflix owning its own original content: It would eliminate the need to negotiate separate agreements to stream these titles worldwide. It is easier to capture data from streaming its own content vs. acquiring data from content that it streams to consumers via licensing agreements It would provide a differentiated good, potentially unavailable to rivals. It would catalyze the firm's efforts to provide a branded set-top box and streaming stick line
True False True False
Identify each statement as true or false concerning why Amazon allows third-party firms to offer products through its site: It allows Amazon to maintain the customer relationship and acquire data, even if it sells products from others It increases the firm's accounts receivable period Amazon earns revenue from the sale and fulfillment of third-party products It reinforces the appeal of Amazon as a first-choice shopping destination
True False True True
Which of the following is true of Amazon's warehousing process?
When stacking shelves in its warehouses, Amazon ensures that no two similar products sit next to each other.
Match the correct definition to each term: A website that can be modified by anyone from directly within a web browser: A method for organizing tweets where keywords are preceded by the # character: An internet vandal and mischief maker; also sometimes referred to as a troll:
Wiki Hashtags Griefer
_____ is the idea that a group of amateur individuals collectively have more insight than a single or small group of trained professionals.
Wisdom of crowds
Which of the following describes why Zara has been successful at implementing RFID technology, unlike some other major retailers?
Zara's vertical integration gives them direct access to inventory in their warehouses to add RFID tags.
Zara's production costs could fluctuate at higher rates than its competitors because many of the firm's costs are tied to the _____.
euro
Zara holds a competitive advantage over its rivals in spite of:
keeping large portions of its production processes in-house.
Which of the following represents an advantage enjoyed by the Netflix DVD-by-mail business over traditional video stores?
larger entertainment selection
Technological ____________ is competing by offering a new technology that is so superior to existing offerings that the value overcomes the total resistance that older technologies might enjoy via exchange, switching cost, and complementary benefits.
leapfrogging
Firms that cannot generate cash quickly enough are referred to as having _____.
liquidity problems
Which term is used as an alternative to switching costs?
lock-in
Staying power refers to the:
long-term viability of a product or service.
Which primary reasons caused New York based consumers to be receptive to FreshDirect's online grocery model?
lower cost and larger selection
Netflix uses_____________, a type of artificial intelligence which leverages massive amounts of data so that computers can improve the accuracy of actions and predictions on their own without additional programming.
machine learning
To send short messages to followers who aren't required to follow back, a user would start a ________. An example of this is __________.
microblog, twitter
The _____ is the part of a computer that executes the instructions of a computer program.
microprocessor
FreshDirect gives suppliers the opportunity to offer ________ shelf-constrained grocers.
more products than
One way to address the problem of densely-packed, overheating chip designs is with __________ microprocessors.
multicore
The long tail is a phenomenon whereby firms can make money by:
offering a selection of products or services vastly greater than conventional retailers.
A market dominated by a small number of powerful sellers is known as a(n) _____.
oligopoly
Match each type of byte with its corresponding amount: 1 kilobyte (kb): 1 petabyte (PB): 1 gigabyte (GB): 1 byte: 1 exabyte (EB): 1 terabyte (TB): 1 zettabyte (ZB):
one thousand bytes one quadrillion bytes one million bytes 1 keyboard character one quintillion bytes one trillion bytes one sextillion bytes
A company uses radio frequency identification (RFID) tags to keep track of its inventory. This is an example of the impact of technology in the area of _____.
operations
______media are efforts where an organization pays to leverage a channel or promote a message.
paid
Advertisement and sponsorships are components of which type of media?
paid media
A ___________-feedback loop is inherent in network effects.
positive
Which of the following is not a key feature of a blog?
predictability
Multicore microprocessors are formed by:
putting two or more lower power processor cores on a single chip.
Which of the following is an example of volatile memory?
random-access memory
Showing ads for products and services from a site that a user has previously visited is known as ______________.
retargeting
Internet retailers serve a larger geographic area with comparably smaller infrastructure and staff. This fact suggests that internet businesses are more _____.
scalable
For traditional retailers selling physical goods, _____ is the biggest constraint limiting a firm's ability to offer customers what they want and when they want it.
shelf space
The _________ wave of computing that we are in now is considered the era of pervasive computing.
sixth
Which product or service is not subject to network effects?
snack chip manufacturing
________-networks are an online community that allows users to establish a personal profile and communicate with others.
social
The long tail nature of the blogging phenomenon is demonstrated by:
the niche content that is discoverable through search engines and that is often shared via other types of social media.
Many firms are offering six-figure starting salaries to graduating seniors from top universities because
there is a high demand for scarce technical talent.
Network effects earned OpenTable the position of world's largest online restaurant reservation system because
they made the restaurant reservation market more efficient.
Relate your understanding of Netflix dominance in the DVD-by-mail business to what you learned in the Strategy and Technology chapter: what three resources for competitive advantage did Netflix create in this market that rivals Blockbuster and Walmart couldn't match?
Brand, scale, data asset
Why is Apple Pay an example of a two-sided network?
Buyers attract sellers and vice versa
By going public, Netflix encountered competition from the large, established firms Walmart and Blockbuster. What aspect of Netflix going public lured these firms into the market?
By going public, Netflix was required to disclose its financial position.
A set of databases designed to support decision-making in an organization is known as
Data warehouse
Decisions in a process map (diagram) are represented using a ________.
Diamond or rhombus
MyMagic+ is a large-scale system developed for _______.
Disney
Facebook leads social media innovation and rarely imitates products from competitors. True or False?
False
The AWS business is promising for Amazon in that it is used by more firms than any other effort. However, like many of Amazon's other "long bet" gambits, AWS has yet to earn any money. (T/F)
False
Identify each statement as true or false concerning Netflix's early relationship with industry analysts: It was quite friendly since Hastings had previously worked as an analyst himself The firm's cozy relationship with analysts led to an SEC investigation. The firm's chief executive, Reed Hastings, was uniformly praised for the company's flawless growth Many analysts doubted the firm would succeed when confronted by increased competition from well-known rivals
False False False True
Identify each statement as true or false concerning why HBO is considered a worthy rival to Netflix: HBO is owned by Verizon, allowing it to be easily bundled with pay television and mobile phone services HBO's ownership of a major cinema chain gives it access to first-run films. HBO's ownership of a major cinema chain gives it access to first-run films. HBO's ownership of a major cinema chain gives it access to first-run films.
False False True False
Identify each statement as true or false concerning the data Netflix can collect via streaming vs. data acquired from its DVD-by-mail business: Netflix data advantage is much less than rivals, since anyway can collect data on streaming media Streaming provides more accuracy, since Netflix gains insight based on the length and frequency titles are watched by a given user. DVD-by-mail was more accurate since users were forced to rate all titles. Data allows for greater customization of titles and the types of content promotions offered to streaming customers
False True False True
Identify each statement as being true or false concerning benefits that Amazon has gained by using robots in its warehouses: lights-out distribution centers where no one works on the warehouse floor faster order fulfillment times faster stocking of shelves when products arrive at the warehouse increased storage in warehouses
False True True True
The _____ problem exists when savvy 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.
First-mover
Firms like Blockbuster, Sotheby's, and Barnes & Noble were put at risk by operating under the following platitude:
Follow, don't lead.
_____ is a term used to describe others taking advantage of a user or service without providing any sort of reciprocal benefit.
Free rider problem
A new rival in the online grocery business might face barriers competing with FreshDirect because
FreshDirect's data, collected from individual customers over time, creates a strong competitive advantage.
Which of the following is the dominant e-mail provider today?
Gmail
___________has risen to become the most profitable media company on the planet.
_________ ability to succeed after being late to the search and mobile party is a story about the failure of incumbents to monitor their competitive landscape, recognize new rivals, and react to challenging offerings.
Google's
Which of the following can increase the bargaining power of buyers?
Greater options of products
Tech impact is reaching even beyond the confines of Earth itself. According to an example in your chapter, how was a tool on the International Space Station recently acquired?
It was printed on-demand using 3D printing technology.
Which statement is true of Amazon?
Its cloud computing business is one of the largest players in that category.
Which of the following is considered one of the three 'pillars' critical to Amazon's business success?
Large selection
The equivalent of a corporate directory can be pulled up via ________, a service complete with discrete messaging capabilities that can allow competitors to rifle-scope target your firm's best and brightest.
Storage that retains data even when powered down is called
Nonvolatile memory
One way firms seek to strengthen their platforms and encourage third parties to develop complementary goods is by:
Offering APIs
A(n) _____ is the one that derives most of its value from a single class of users
One-sided market
Which of the following is one of the primary parts of the value chain?
Outbound logistics
________ are media from communication channels that an organization controls.
Owned media
What are the two information systems Zara uses to gather data in-store, and what is the purpose of the data gathered by each.
PDAs gather information on customer preferences, POS gathers information on sales
________ refers to efforts where an organization pays to leverage a channel or promote a message
Paid media
______ is the rate at which the demand for a product or service fluctuates with price change
Price elasticity
For providers of commodity products, how does the Internet typically impact price transparency and information asymmetry?
Price transparency increases as information asymmetry decrease
Contract manufacturing is the process by which
Production is outsourced to third-party firms
Amazon __________ is Amazon's first consumer-facing brick and mortar facility.
Purdue
Crowdsourcing tools and question-and-answer (knowledge-intensive social media) sites, such as _____, allow firms to reach out for expertise beyond their organizations.
Quora
Crowdsourcing tools and question-and-answer sites, such as _____, allow firms to reach out for expertise beyond their organizations.
Quora
Name the technology that makes Zara's inventory smart is called
RFID
The resource-based view of competitive advantage states that for a firm to maintain sustainable competitive advantage it must control a set of exploitable resources that have four critical characteristics. What are these characteristics?
Rareness, value, imperfect imitability, non-substitutability
_________gained 700 million adherents in its first four years of existence.
TikTok
______ is financial performance that consistently outperforms the industry average
Sustainable competitive advantage
_____ are costs that customers incur when moving from one product to another
Switching costs
Which statement about technology is true?
Technological advancements can usually be copied by rivals, leading to a profit-eroding arms race.
If electronics now travel half the distance to make a calculation, that means the chip is
Twice as fast
Technology experts in the area of _____ work to make sure systems are intuitive and easy to use.
User interface design
The __________is the set of activities through which a product or service is created and delivered to customers.
Value chain
Match each description to the term it describes: This is the set of interrelated activities that bring products or services to market: This occurs when a product or service becomes more valuable as the number of users increases: This is the symbolic embodiment of all the information connected with a product or service.
Value chain Network externalities Brand
When a single firm owns several layers in its value chain, it is said to be
Vertical integration
Match the correct definition to each term: Information or applications that are rapidly shared and distributed by users Engineering the posting of positive comments and reviews of a firm's product and services (or negative ones of a firm's competitors). The ability to revert a wiki page to a prior version.
Viral Astroturfing Roll back
Web 1.0: Key feature(s) Web 2.0: Key Feature(s) Web 3.0: Key Feature(s) Big Companies (Yahoo...; Facebook.....; Twitter.......; Uber.......)
Web 1- Read-only (yahoo) Web 2 - Read and write (Twitter) Web 3 - Read, write, and ownership (Facebook & Uber??)
How are sites and services from the Internet's first phase (Web 1.0) different from those that are classified as social media or peer-production efforts?
Web 2.0 services foster collaboration and information sharing, as opposed to static, transaction-oriented Web 1.0 efforts.
FreshDirect monitors website and app use to provide customers
a personalized experience.
Moore's Law is
a prediction based on past observations.
Money owed for products and services purchased on credit to be paid at a later date is known as _____.
accounts payable
Which factors led to Netflix dominance versus Blockbuster and Walmart?
advantages created by leveraging technology and timing
Without spending money or time, a firm can expect to enhance its offerings by _____.
allowing other firms to contribute to its platform
A _____ refers to a list of a blogger's favorite sites, often displayed on the right or left column of a blog's main page.
blog roll
A firm's period between paying suppliers for products and collecting funds from customers who purchase these products is referred to as the _____.
cash conversion cycle
Select all that apply. Early attempts at the online grocery business were unsuccessful because
customers enjoyed the benefit of going to the grocery store and shopping on their own schedule. most customers were fine with the traditional way of shopping. customers were unwilling to allow others to select their produce.
Fresh Direct's business model helped them outperform traditional rivals because they leveraged the power of
data
An online grocery start-up specializing in fresh produce is searching for a warehouse location and service area. They must factor in product-market fit when selecting the location for the distribution warehouse and customer service area. As a member of the strategy team, which location would you recommend?
densely populated city with few grocery stores
Today Netflix is primarily focused on _____________, the default option for consumers.
digital distribution
Removing an organization from a firm's distribution channel thereby collapsing the path between supplier and customer is known as _____.
disintermediation
Apple successfully leveraged their ________ channels to become the industry leader in all retail chain categories in the United States.
distribution channels
Zara's model has evolved to support this type of commerce, adding 52 special stockrooms globally.
e-commerce
Social networks are a hothouse for "_________" media, where enthusiast-consumers can help spread the word about products and services.
earned
Which three-tier model is used by FreshDirect?
from farm or sea to our house to your house
Personal digital assistants are:
handheld computing devices meant largely for mobile use outside an office setting.
Market growth Share Matrix (star; question mark, dog, milk cow) iPhone iPod Apple glasses iCloud....
iPhone: Star or milk cow iPod: Dog ***** Question on exam Apple glasses: Question mark iCloud: Star or milk cow
Zara's staff members regularly collect data from customers at Zara stores. This data is used to:
inform designers on customer preferences and staff on store sales results.
Grid computing is a type of computing in which:
special software is installed on several computers enabling them to work together on a common problem.
Which factor represents one of the sources of value derived from network effects?
staying power
Michael Porter says that the reason many firms suffer margin-eroding competition is because they have defined themselves according to operational effectiveness rather than
strategic positioning
The term _____ refers to computers that are among the fastest of any in the world at the time of their introduction.
supercomputers
When a firm's financial performance consistently outperforms its industry's peers, it can be said that the firm benefits from _____.
sustainable competitive advantage
Amazon has combined _________ and __________ to outperform sky-high expectations and become one of the most innovative firms in history.
technology, strategy
Crowdsourcing is:
the act of taking a job traditionally performed by a designated agent and contracting it out to an undefined generally large group of people in the form of an open call.
When Blockbuster and Walmart added collaborative filtering to their DVD services, the percentage of consumers who left Netflix the following year decreased. This form of attrition is known as ____________
the churn rate
Which of the following factors shifts bargaining power to the suppliers of streaming video content
the content is most often unique and highly differentiated.
Economists call the video game market a ______-sided market.
two
Peer production refers to:
users collaboratively working to create content, products, and services.
In an industry where nearly every major player outsources manufacturing to low-cost countries, Zara is highly _____, keeping huge swaths of its production process in-house.
vertically integrated
Which of the following is cited as a reason why some firms have grown quickly while spending relatively little in advertising?
viral marketing
Storage that is wiped clean when power is cut off from a device is known as _____.
volatile memory
