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Flashcards in Learning Outcomes Deck (26):

How does digitalization affect business and society?

- IoT
- Finance: tech important in valuation
- Accounting:
- Marketing
- Operations
- HR
- Law
- Information systems


What is the Gallaugher definition of Web 2.0?

Web 2.0 empower users to collaborate, create resources and share information


What is the definition of peer production?

Users work collaboratively to create content, products and services


What is collaborative consumption?

- Peer production
- Participants hare access to products and service rather than having ownership


What are five different forms of media?

1. Owned media
2. Paid media
3. Earned media
4. Inbound media
5. Search engine optimization


What makes a crowd smart?

1. Diverse
2. Decentralized
3. Collective verdict
4. Independent


What isa prediction market?

Where a diverse crowd is polled for a forecast of eventual outcome


Name various forms of social media

- Blogs
- Wikis
- Microblogs
- Crowdsourcing


How does digitalization affect labor markets and income inequality?

- Thanks to digital technologies we'll be able to produce more
- Through history, positive economic developments commonly have unpleasant side effects
- Technology may leave a lot of people behind
- Ne economic law ensuing that technological progress create a bigger pie


What are the arguments for cryptocurrencies?

- Can be the cyber equivalent of gold. It is a store of value
- In the long term it is a multitrilllion dollar asset
- Creates tech since the internet


What are arguments against cryptocurrencies?

- you can't value bitcoin because it nota value producing asset
- Its a vehicle to perpetrate fraud
- Bitcoin is successful only because of its potential for circumvention


Describe the relationship between the invention of transistors, modern electronics and Moore's law

- Moores law states that chip performance doubles every 18 months
- Because of Moores law, tech products are highly elastic
- Moores law works because semiconductor facilities can produce more chips per silicon wafer
- Size, power and heat can slow down Moores law
- Multicore microprocessors can help solve this


Explain the roles of TCP and IP in internet communication

1. TCP dividends data into packets
2. IP describes how packets are sent to right destination. Sends using routers.
3. TCP on receiving end checks if all packages have arrived. TCP then adds all packets together and shows webpage


Explain steps necessary to find resources requested by web browser

1. Application transfer protocol
2. Host name
3. Domain name
4. Top level domain
5. Path
6. File


What are the benefits of cloud computing?

- Reduces upfront costs
- Increases flexibility fro scaling


What are disadvantages of cloud computing?

- May lead to higher long-term costs
- Dependence on providers
- Moving legacy systems to cloud may be costly


Define operational effectiveness

Performing the same tasks as competitors but better


Define strategic positioning

- Performing different tasks than rivals
- Performing same tasks in different way


What are the four aspects of a resource?

1. Valuable
2. Rare
3. Imperfectly imitable
4. Non-substitutable


Define resource based model

The tangible and intangible assets which are tied semipermanently to the firm


Give 6 examples of a critical resource

1. Imitation resistant value chain
2. Brand
3. Scalability
4. Switching costs and data
5. Differentiation
6. Network effects
7. Distribution channels
8. Intellectual property


Explain what RFID is

- Tags and readers
- Tags are passive or active
- Does not require line of sight


What are the benefits of RFID

1. Automation of processes
2. Process transformation
3. Insight to performance


What are disadvantages of RFID

- Data privacy
- Costs


Define business process

A collection of events, activities sand decisions that collectively lead to an outcome that bring value to an organizations customers


Name the 6 parts to a BPM lifecycle

1. Identification
2. Discovery
3. Analysis
4. Redesign
5. Implementation
6. Monitoring and controlling