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MIS 3305 > EXAM 1 > Flashcards

EXAM 1 Flashcards

1
Q

What are Porter’s 5 Forces?

A

Power of Supplier, Intensity of Competition, Access to Market, Threat of Substitutes, Power of Customer

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2
Q

LOL Power of Supplier

A

High supplier power, LOL buys from dairy farmers who are very limited already

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3
Q

LOL Intensity of the Competition

A

Competition for this industry is low, and LOL has a large share of the market, allowing them to have more power

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4
Q

LOL Access to the Market/New Entrants

A

With technologies growing and jobs being secured through relationships, it makes entering the market much harder, putting LOL in a more stable position

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5
Q

LOL Threat of Substitutes

A

There is a low threat for substitutes for LOL because milk and other dairy products are key elements to many other foods

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6
Q

LOL Power of Customer

A

LOL power is very low because there are few suppliers of the products they need

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7
Q

Retention rates increased with better:

A

HR, Management, and Employee Development

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8
Q

Digital Transformation

A

a process meant to improve properties with information, computing, communication and connectivity technologies

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9
Q

What are IoT Technologies?

A

Internet of Things, aka adding a device to an inert object

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10
Q

Software

A

A computer program or collection of programs

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11
Q

Software Cake Layers:

A

Hardware, Operating System, Applications, User

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12
Q

Managerial Implications of Software:

A

Business demand, Legal Issues, Costs, Security

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13
Q

Hardware

A

Physical components of IT

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14
Q

Firmware

A

Control programs stored on chips

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15
Q

Embedded systems

A

Combo of software and hardware designed for a specific function

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16
Q

Moore’s Law

A

The # of transistors on a microchip doubles about every two years, though the cost of computers is halved

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17
Q

Operating System

A

Common set of commands for writing programs

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18
Q

7 Components of the Enterprise Resource Planning System

A

(SHIMPOD) Sales, HR, Inventory, Manufacturing, Purchasing, Order Tracking, Decision Support

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19
Q

Database Mgmt System

A

Stores and retrieves data from an application

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20
Q

Enterprise software examples:

A

ERP, SCM, CRM, and BI

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21
Q

The more _____________________, the more valuable the platform becomes

A

Application Software

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22
Q

3 System Logic Layers

A

user interface, business logic, and database

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23
Q

What do web services and APIs do?

A

allows two applications to communicate with one another

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24
Q

3 Advantages of Distributed Computing

A

(SAL) Speed, accuracy, low-cost

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25
Q

Distributed Computing

A

Systems in different locations communicate and collaborate with one another

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26
Q

Compiling

A

Taking messages and turning it into binary code

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27
Q

Programming languages

A

C++, C#, Visual Basic, and Java

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28
Q

Java is most popular on _____________

A

Mobile phones

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29
Q

Scripting Languages

A

Python, R, VB Script and Java Script

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30
Q

IDE

A

An app that includes an editor, debugger, and compiler

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31
Q

JVM

A

Interprets Java Code

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32
Q

Software Development Methodologies

A

Help improve software development projects

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33
Q

Scrum

A

Breaks projects up into tasks called sprints that are meant to be completed in 1-6 weeks

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34
Q

Info Systems Development Projects rarely _________

A

succeed

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35
Q

Firms spend ________ of their IS budgets just to keep their systems running

A

70-80%

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36
Q

Most commonly quotes stock index

A

S&P 500

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37
Q

Largest Companies by Market Capitalization after 2019

A

Microsoft, Amazon, Apple

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38
Q

OOH estimates MIS jobs to grow by _____ between 2021-2031, adding _________ jobs

A

15%, 682,800

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39
Q

SMACIT stands for:

A

social, mobile, analytics, cloud, internet of things

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40
Q

Percent of firms failing at digital transformation

A

72%

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41
Q

New technologies have:

A

Fueled globalization, redefined concepts, lowered costs, data-driven decision-making, automating work

42
Q

IPO

A

selling securities to public

43
Q

Strength of No Code/Low Code

A

Does not require advanced knowledge

44
Q

How does Low Code No Code affect businesses?

A

Automated business processes, more focused on innovation

45
Q

Sustainable Competitive Advantage

A

Outperforms industry averages, difficult to achieve bc of new competitors and products

46
Q

Operational Effectiveness

A

Performing the same task better than rivals (causes aggressive competition)

47
Q

Commodity

A

A basic, substitutable good

48
Q

Firms should do more _________________________

A

Strategic Positioning

49
Q

Strategic Positioning

A

Differentiating yourself from competition

50
Q

Technology should be:

A

Defensibly different and difficult to copy

51
Q

Fast Follower problem occurs when competitors:

A

Watch, Learn, Enter Quickly

52
Q

Technology can be matched _________, so firms are susceptible to _________________

A

quickly, the fast-follower problem

53
Q

Who passed Tesla in the electric vehicle market:

A

BYD

54
Q

4 Components to maintaining a Sustainable Competitive Advantage:

A

Valuable, Rare, Hard to Imitate, Non-substitutional

55
Q

Secondary Value Activities:

A

Provide the inputs & infrastructure

56
Q

Primary Value Activities:

A

Flow of goods and services

57
Q

Potential danger of software on Value Chain:

A

Changing a unique process into a basic one

58
Q

Firms that dominate do not have

A

High switching costs

59
Q

6 Sources of Switching Costs:

A

Learning & Search costs, Info/Data, Financial & Contractual Commitments, Loyalty Programs

60
Q

Network Effects:

A

Value of a product incs as its # of users expands

61
Q

What city did FreshCirect mess up in?

A

Bronx

62
Q

4th Industrial Revolution

A

Rapid change in technology, industries, and societal patterns and processes due to increasing interconnectivity and intelligent technologies

63
Q

Triple A’s of 4IR

A

Analytics, Algorithms, AI

64
Q

What group increased the most between 1900 and 2000

A

White Collar Workers

65
Q

FreshDirect percentage of grocery market in NYC:

A

60%

66
Q

Product Fit Market:

A

The degree to which a product satisfies market demand

67
Q

Competitive Advantages of FreshDirect:

A

Data Usage, Freshness, Low-Costs, Efficient & Fast

68
Q

FreshDirect is cutting costs in these departments:

A

Energy, Pack Time, Labor, Delivery

69
Q

FreshDirect 3 Tier Model:

A

Farm/Sea -> Our House -> Your House

70
Q

FreshDirect lost customers due to:

A

A more complex system without testing/fallback

71
Q

Splunk

A

A tool that helps firm query-related data

72
Q

2 Catgories of Cloud Computing:

A

Software as a Service and Hardware as a Service

73
Q

4 Popular Cloud Computing Companies:

A

Splunk, Square, SalesForce, Windows Azure

74
Q

Cloud Computing

A

Replacing computing with services provided over the Internet

75
Q

SAAS

A

3rd party software, recieves service online

76
Q

HAAS

A

Firm’s personal software, stored on service-providors computers

77
Q

2 Types of HAAS

A

Platform as a Service, Infrastructure as a Service

78
Q

PAAS example:

A

Google App Engine, customers build apps on infrastructure

79
Q

IAAS example:

A

Google Cloud Storage, offer services to clients

80
Q

Benefits of SAAS

A

(FLARP) Fast Deployment, Low costs, Accessibility, Remote Access, Product Enhancement

81
Q

Risks of SAAS

A

(BLNNR) Provider Bankruptcy, Locked-In, New Versions, Non-Customizable, Reliance on Network

82
Q

What do you pay for when you use HAAS?

A

(PST) Processing, storage, and telecommunications used

83
Q

______ of corporate tech spending goes toward data center maintenance

A

80%

84
Q

IAAS User Managed Components:

A

1-5

85
Q

PAAS User Managed Components:

A

1-2

86
Q

SAAS PROVIDER Managed Components

A

(ADRMOVNSS) App, Data, Runtime, Middleware, Operating System, Virtualization, Networking, Storage, Servers

87
Q

Benefits of Cloud Computing:

A

(IFANS) Innovative, Financial Analysis, New Software

88
Q

Risks of Cloud Computing:

A

Legacy Systems and Mission-Critical Systems

89
Q

Legacy System

A

Outdated System

90
Q

Mission-Critical System

A

Critical to the survival of the business

91
Q

Open Source Software (OSS)

A

Free software that anyone can access and modify

92
Q

Since OSS code is shared,

A

It poses a threat to firm’s economic models

93
Q

Advantages of OSS

A

(CRASS) Cost, Reliability, Agility/Speed, Security, Scalability

94
Q

LAMP stands for:

A

Linux, Apache, MySQL, PHP/Pearl/Python

95
Q

OSS is supported by

A

Paid professionals

96
Q

HeartBleed Bug

A

2014, largest security breach in the history of the human race, 2/3 leaked

97
Q

How do vendors make money on OSS?

A

Selling support and consulting services

98
Q

OSS valued 1B+

A

HortonWorks, Docker, Cloudera, MARP, MongoDB

99
Q

Disadvantages of Linux

A

Hard to Install, Complex

100
Q

Virtualization

A

Running Microsoft on a Mac computer

101
Q

Secondary Value Components

A

procurement and purchasing, HR managing, technological development, and company infrastructure

102
Q

Primary Value Components

A

inbound operations, operations, outbound logistics, marketing and sales, service

MIS 3305 (4 decks)

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