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