cis module 2 quiz

sustaining innovations

Extend sales in an existing market Enable new products or services to be sold at higher margins, i.e. via the Internet

Threat of new entrants

The power of competitors to enter a market

Cost Strategy

a generic strategy that focuses on reducing cost

internet if things IOT

a world where interconnected Internet-enabled devices or "things" have the ability to collect and share data without human intervention.

five focus model

analyzes the competitive forces within the environment in which a company operates to assess the potential for profitability in an industry. Its purpose is to combat these competitive forces by identifying opportunities, competitive advantages, and competitive intelligence

Three Generic Strategies

are generic business strategies that are neither organization nor industry specific and can be applied to any business, product, or service. These three generic business strategies for entering a new market are: (1) broad cost leadership, (2) broad differentiation, and (3) focused strategy

data

are raw facts that describe the characteristics of an event or object. -order date, amount sold, coustomer number

supply chain

consists of all parties involved, directly or indirectly, in obtaining raw materials or a product. In a typical supply chain, a company will be both a supplier (to customers) and a customer (of other suppliers),

switching costs

costs that make customers reluctant to switch to another product or service. Switching costs include financial as well as intangible values.

information

data converted into meaningful or useful context -best or worst selling product or best or worst coustomer

knowledge

information collected from multiple sourses that analyze patterns, trends and relationship for a stretegic decision making -lowest sales per week compared with economic interest rate

variable

is a data characteristic that stands for a value that changes or varies over time.

business intellegence

is information collected from multiple sources such as suppliers, customers, competitors, partners, and industries that analyzes patterns, trends, and relationships for strategic decision making

Disruptive Innovations

new technologies, products, or services that eventually surpass the existing dominant technology or product in a market

product differentiation

occurs when a company develops unique differences in its products or services with the intent to influence demand. Companies can use differentiation to reduce rivalry

competitive scope

the breadth of the company's or business unit's target market

rivalry among existing competitors

the power of competitors

buyer power

the power of customers to drive down prices

supply power

the power of supplies to drive up prices

M2m or machine to machine

which refers to devices that connect directly to other devices.