SIT Unit 1
Which of the 3 Gen Strategies is Neiman Marcus?
*Differentiation*High Cost, Broad market
Which of the 3 Gen Strategies is Tiffany &Co?
*Focused* high cost, narrow market
Which of the 3 Gen Strategies is Payless Shoes?
*Focused* low cost, narrow market
Which of the 3 Gen Strategies is Walmart?
*Price Leadership*Low Cost, Broad Market
What contributed to the downfall of polaroid?
1 hr photo digitization of cameras/images
3 types of change (from least to most beneficial)
1. automation 2. streamline- remove duplicates 3. reengineering(airplane instead of a car)
When did the Internet become available to the public?
1991
when did domain names become available?
1998
how long did it take to develop iTunes
4 months
How many steps are in the decision making process?
6 steps
how long did it take to develop the iPod
9 months
content used in a mashup is typically sourced from ______________
API
How does Google make money?
AdWords (per click)
What movie did Reed Hastings forget to return?
Apollo 13
SAP is an example of which business model?
B2B
Amazon is an example of which business model?
B2C
Gap.com is an example of which business model?
B2C
Which business model is Carfax?
B2C
A knowledge worker is valued for their ability to analyze information and make decisions from:
BI + Personal experience
Priceline.com is an example of which business model?
C2B
Craigslist is an example of which business model?
C2C
eBay is an example of which business model?
C2C
"CSF"
Critical Success Factor
DSS
Decision support Systems models info to help with decision-making
market share (internal or external kpi)
EXTERNAL KPI the portion of market that a firm captures $2 mill sales in a $10 mill industry
who started polaroid?
Edwin Land
EIS
Executive Information System special DSS that supports senior execs
FANG
Facebook, Amazon, Netflix, Google
Who came up with DYB/GYB and what does it mean?
GE-Mike Welch Destroy Your Business/ Grow Your Business Only way to sustain competitive advantage
What would Jeff Bezos, the Chairman and CEO of Amazon be constantly benchmarking?
MIS efficiency and MIS effectiveness
Yahoo CEO
Marissa Myers
1st new car company in 50 years?
Tesla
who was the jerk who raised the price of AIDs treatment meds and why could he?
Turing Pharma- Martin Shkreli high supplier power
What produces graphical displays of patterns and complex relationships in large amounts of data?
Visualization
Who started Waste Management?
Wayne Huizenga
Who founded Blockbuster?
Wayne Huizenga and David Cook
buyer power
ability of buyers to affect the price of an item
5 ebusiness revenue models
ad fees license fees subscription fees transaction fees value-added service fees
.aero
aerospace
Managerial decision-making challenges include:
all of the above
Which of the following represents the types of data commonly found in the accounting department?
all of the above
genetic algorithm
an ai system that mimics the survival of the fittest process to generate better solutions to a problem (optimization technique)
API
application programming interface set of routines, protocols, and tools for building software apps
AI
artificial intelligence simulates human intelligence
email is a type of ___________ communication
asynchronous message and response don't occur @ same time
What is the term for viewing of the physical world with extra computer-generated layers of information added to it?
augmented reality
benchmark
baseline values the system seeks to attain (optimal performance points)
what is the term for an online journal that allows users to post their own comments, graphics, and video?
blog
What level: before storms at Florida Walmarts, people buy strawberry poptarts and beer
business intelligence
BPR
business processes reengineering
to whom does the cio report?
ceo
"CPO"
chief privacy officer. ensuring the ethical and legal use of info. many are lawyers.
"cso"
chief security officer
"cto"
chief technology officer availability, speed, accuracy of IT
innovator's dilemma written by whom?
clay christensen
what tracks pattern of customers' navigation?
click-stream data
the three qualities of web 2.0
collaboration sharing free
wiki
collaborative webpage
.com
commercial
intelligent system
commercial application of artificial intelligence
virtual reality
computer simulated environment- simulation of real or imaginary world
expert system
computerized advisory programs like experts
Which of the below does NOT represent a category of AI?
consolidation
6 forms of ebusiness
content providers infomediaries online marketplace portal service providers transaction brokers
"Systems Thinking"
continuously gathering feedback before, during, and after production
benchmarking
continuously measuring system results, comparing to benchmarks and identifying improvement steps
business process modeling/mapping
creating a detailed flow chart or map showing inputs, tasks, and activities
cybermediation
creation of new intermediation due to ebusiness
what determines a "tag"?
crowdsourcing
the innovator's dilemma is the challenge to satisfy____?
current and future needs
As-Is process model
current state of operation
competitive advantage
customers place greater value on widget over similar widget by competitors
What level: 45 units sold today
data
semantic web
describes things in a way computers can understand
What is the term for when organizations cannot adapt to the new demands of the information age?
digital Darwinism
What tracks KPIs and CSFs by compiling information from multiple sources and tailoring it to meet user needs?
digital dashboard
what term is defined as "ecommerce+activities related to internal and external business ops"
ebusiness
What term is defined as "buying and selling over the internet"
ecommerce
customer satisfaction (Efficiency or Effectiveness MIS metric)
effectiveness
system availability (Efficiency or Effectiveness MIS metric)
efficiency
transaction speed (Efficiency or Effectiveness MIS metric)
efficiency
neural network
emulates the way the human brain works
metrics
evaluate results to determine whether a project is meeting its goals
In a database, columns are called?
fields
first mover advantage
first to market with a competitive advantage
loyalty program
reduces buyer power
Jay owns and operates one of the most successful local coffee shops on The Main Line called The Wright Café. Each time a customer purchases their 100th cup of coffee at The Wright Café, they receive a free pound of coffee of their choice. What is Jay attempting to create with his unique "Free Pound of Coffee" marketing program?
reducing buyer power with a loyalty program
what is the name for the determination of a key word classification system?
folksonomy
The 6 stakeholder groups
govt partners/suppliers shareholders/investors community customers employess
What uses technology allowing humans to interact with a computer through bodily sensations and movements-for example, a cell phone vibrating in your pocket?
haptic interface
Retail store is in what part of the sales curve?
head
The more specific the Adword, the price is______?
higher
workflow
includes the tasks, activities and responsibilities to execute steps in the business process
what level: Ruffles are the best selling product
information
what is the downside of disruptive technology?
initially it doesn't meet existing customers' needs
business facing process
invisible to the external customer but essential to the business-back office-
best apps of 2015
jet robin hood hbo go
KPI
key performance indicators quantifiable metrics a company uses to evaluate progress toward CSFs
What level: Salesperson has bad Q1, but manager knows of family issues
knowledge
Which of the following are included as potential internal weaknesses in a SWOT analysis that are harmful to an organization?
lack of strategic direction, obsolete technologies, lack of managerial talent, outdated product line
business strategy
leadership plan that achieves a set of goals/objectives (satisfying stakeholders?)
netflix is in what part of the sales curve
long tail
zappos is in what part of the products x popularity sales curve?
long tail
What adds the most value in a value chain analysis?
making the product or service
switching cost
manipulation of costs that make customers reluctant to switch to another product (lowers buyer power)
fuzzy logic
mathematical way of handling imprecise info
intermediary
middle man
who said shareholders are the only stakeholders a company should aim to satisfy?
milton friedman
mbusiness
mobile business
Defining characteristic of business intelligence?
multiple sources
ROI (internal or external KPI)
return on investment internal kpi (gain-cost)/cost
"the long tail" of ____ curve
sales
disintermediation
sell direct online
To-Be process model
shows results of applying changes to the as-is model
model
simplified representation of reality
intelligent agent
special-purpose knowledge-based system that accomplishes tasks on behalf of its users
reintermediation
steps added to the value chain
At which level do managers develop the overall business strategies and monitor the performance of the organization and the competitive business environment?
strategic
What is the top level of decision making, where unstructured decisions like introducing a new PowerWall are made?
strategic
With Michael Porter's five forces model:
strong forces increase competition
Operational Management make _____decisions based on _______ info
structured internal
Review the key terms below. Which one defines an operational decision that involves situations where established repetitive processes offer potential solutions?
structured decision
what is a personalization feature offered by Amazon?
personal portal
ebusiness model
plan that details how a company generates revenue on the internet
Managers use _______ to decide what new flavors of sports drinks or potato chips to introduce.
predictive analysis
2 categories of value chain activities
primary- receive and store raw materials & make product support-firm infrastructure, hR, tech, etc
sustaining technology
produces an improved product
Amazon.com uses a customer profiling system whenever a customer visits its website. Using this system, Amazon can offer products tailored to that particular customer's profile and buying pattern. What is Amazon using to achieve this competitive advantage?
product differentiation
customer-facing process
product or service that is received by an organization's external customer -front office-
Network effect
products in a network increase in value to users as the number of users increases
.pro
professionals
what is the name for a B2C that is completely online?
pure play
supplier power
supplier's ability to influence the prices they charge
IM is a type of ______________ communication
synchronous message and response occur @ same time
mass customization
tailor products to the customers' specifications
All of the following are common tools used in industry to analyze and develop competitive advantages, except _________.
the competitive analysis model
In a database, rows are called?
records
If you were thinking about an oven as a system, which of the following represents the process?
the oven running at 350 degrees for 20 minutes
crowdsourcing
the wisdom of the crowd
Why use the 3 generic strategies?
to choose a business focus - example Wal-Mart uses a low-cost strategy
Why use a SWOT analysis?
to evaluate a project position
Why use Porter's 5 Forces Model?
to evaluate the attractiveness of an industry
why use a value chain analysis?
to execute business strategies
The generic strategy of low cost + narrow market is used by?
Payless Shoes
Which of the following is an incorrect enterprise view of information technology?
Processing is OLTP for executives and OLAP for analysts.
RSS
Real Simple Syndication family of web feed formats. allows for content to be fed to the user instead of them searching for it. also, offers notification when info is updated
When and by whom was the ATM invented?
Chemical Bank, 1969
"CIO"
Chief Information Officer. Oversees all uses of IT and ensures that IT is aligned with Business Strategy
"CKO"
Chief Knowledge Officer. collecting, maintaining and distributing org's knowledge.
What is an example of a wearable computer with an optical head-mounted display (OHMD)?
Google glass
Who founded Amazon?
Jeff Bezos
which is more specific- CSFs or KPIs?
KPIs Key performance indicators
Who is Walmart's CIO?
Karenann Terrell developed app Savings Catcher
Five Forces Model was developed when and by whom?
Michael Porter (Harvard Business School) 1985
An e-mail suggesting the new book "Why not me?" comes into your inbox. What type of processing led to this recommendation?
OLAP
If a company recommended products based upon your purchase history and likes in social media, they would be using?
OLAP - online analytical processing
"OLAP"
Online Analytical Processing. Recommends products based on purchase history/ social media.
"OLTP"
Online transaction processing. type of MIS
In SWOT, OT are internal or external?
Opportunities and Threats are *external*
Who started Netflix?
Reed Hastings
Example of OLTP
SAP & Oracle
What are two business software solutions that unite departments?
SAP CRM & Oracle
Example of OLAP
SAP HANA
what SAP software solution improves the workflow
SAP Quote to Cash
Where is Amazon based?
Seattle
In SWOT, SW are internal or external?
Strengths and Weaknesses are *internal*
What are the five forces?
Supplier Power(to drive up prices of materials) Buyer Power(to drive down prices) Threat of Substitute Products or Services(power of customers to purchase alternatives) Threat of New Entrants (power of competitors to enter the market) middle Rivalry among Existing Competitors
Paula is the owner and operator of The Exchange, a high-end clothing company. Paula has never heard of Porter's Five Forces model and she wants to understand why she would perform an analysis using it. If you were tasked with explaining Porter's Five Forces model to Paula, what would be the primary reason she would want to use this type of analysis?
to help Paula evaluate the attractiveness of the clothing industry
TPS
transaction processing system basic business system that assists with structured decisions
URL stands for?
universal resource locator
Strategic decision makers make ________ decisions based on ________ info
unstructured internal and EXTERNAL
When considering the graph depicting the interrelationships between efficiency and effectiveness, where does an organization ideally want to operate?
upper-right corner
haptic interface
uses technology allowing humans to interact with a computer through bodily sensations and movements
Value Chain Analysis
views firm as a series of business processes that each add value to the product or service
Howie Long loves playing a game called World of Warcraft where he has the capability to create his own character and even his own life-like environment. Into which AI system would you categorize World of Warcraft?
virtual reality
mashup
website that uses content from different sources to create a new product or service