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SY Spring Semester > 301 Final Exam Vocab > Flashcards

301 Final Exam Vocab Flashcards

1
Q

Sustainable Competitive Advantage

A

Financial performance that consistently outperforms industry averages.

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2
Q

Operational Effectiveness

A

Perfoming the same tasks better than rivals perform them

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3
Q

Commodity

A

A basic good that can be interchanges with nearly identical offerings.

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4
Q

Fast Follower Problem

A

Exists when savvy rivals watch a pioneers efforts, learn from their successes and missteps, then enter the market quickly with a comparable or superior product at a lower cost before the first mover can dominate.

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5
Q

Strategic Positioning

A

Performing different tasks than rivals, or the same tasks in a different way.

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6
Q

Straddling

A

Attempts to occupy more than one position, while failing to match the beenfits of a more efficient singularly focused rival.

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7
Q

Resource Based View of Competetive Advantage

A

Resources must be valuable, rare, imperfectly imitable, and nonsubstitutable.

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8
Q

Dense Wave Division Multiplexing (DWDM)

A

A technology that increases the transmission capacity, and speed, of fiber-optic cable.

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9
Q

Imitation Resistant Value Chain

A

A way of doing business that competitors struggle to replicate and that frequently involves technology in a key enabling role

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10
Q

Value Chain

A

The set of activities through which a product or service is created and delivered to customers

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11
Q

Scale Advantages

A

Advantages related to size

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12
Q

Economies of Scale

A

When costs can be spread across increasing units of production or in serving multiple customers. Businesses that have favorable economies of scale are also referred to as highly scalable

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13
Q

Switching Costs

A

The cost a consumer incurs when moving from one product to another. Increase the network effect

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14
Q

Network Effects

A

When the value of a product or service increases as the number of users increases. Also called Metcalfe’s Law, network externalitites.

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15
Q

Distribution Channels

A

The path thorugh which product or services get to customers

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16
Q

Application Programming Interfaces

A

Programming hooks that allow for other firms to tap into their services.

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17
Q

Non-Practicing Entities (NPEs)

A

Patent trolls, make money by acquiring and asserting patents, rather than bringing products and service to market.

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18
Q

Porter’s Five Forces

A

Rivalry among existing competitors, threat of new entrants, threat of substitute products, bargaining power of buyer and suppliers.

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19
Q

Price Transparancy

A

The degree to which complete information is available

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20
Q

Information Asymmetry

A

A decision situation where one party has more or better information.

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21
Q

Personal Digital Assistants (PDAs)

A

Early name for handheld mobile computing devices

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22
Q

Point of Sale (POS) System

A

Transaction processing systems that capture customer purchases. E.g. cash resgisters

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23
Q

Vertical Intergration

A

When a single firm owns severak layers in its value chain

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24
Q

Radio Frequency Identification (RFID) Tags

A

Small chip-based tags that wirelessly emit a unique code for the item that they are attached to.

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25
Q

Omnichannel

A

Retail approach that offers consumers and intergrated and complementary set of shop, sale and return experiences. E.g online, in store

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26
Q

Showrooming

A

Customers browse at physical retailers, but purchase products from lower-cost online rivals

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27
Q

Collaborative Filtering

A

Software that monitors trends among customers and uses this data to personalize individual customer’s experience

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28
Q

Coopetition

A

A situation where firms both cooperate and compete with one another, aka frenemies

29
Q

Windowing

A

Making content available to a given distribution channel for a specific window of time.

30
Q

Transfer Pricing

A

When divisions of the same company transact with each other

31
Q

Congestion Effect

A

When increasing numbers of users lowers the value of a product or service

32
Q

Decision Fatigue

A

When customers avoid selection decision with an overwhelming number of choices

33
Q

Data Warehouse

A

A set of databases designed to support decision making in an organization

34
Q

Disintermediation

A

Removing an organization from a firm’s distribution channel. Collapses the path between supplier and customer

35
Q

Channel Conflict

A

When a firm’s potential partner see that firm as a threat

36
Q

Total Cost of Ownership (TCO)

A

The full cost of owning a product, includes direct and indirect costs e.g purchase price, training

37
Q

Customer Aquisition Costs

A

The amount of money a firm spends to convince a customer to buy a product or service.

38
Q

Platforms

A

Product and services that allow for the development and intergration of software products and other complementary goods E.g. window, iOS

39
Q

Daily Active Users (DAU)

A

The number of unqiue visitors, on averagem who use a product or service

40
Q

One-Sided Market

A

Derives most of its value from a single class of users e.g instant messaging

41
Q

Same-Side Exchange Benefits

A

Derived by interaction among members of a single class of participants

42
Q

Two-Sided Market

A

Comprises two distinct categories of participant, both of which are needed to deliver value for the network to work E.g Uber drivers and riders

43
Q

Cross-Side Exchnage Benefit

A

When an increase in number of users on one side of the market (e.g console owners) creates a rise in the other side (software developers)

44
Q

Technological Leapfrogging

A

When a new technology is so superior that the value overcomes the total resistanct that older technologies might enjoy

45
Q

Blue Ocean Strategy

A

Firms seek to create and compete in uncontested “blue ocean” market spaces, rather than competing in spaces and ways that have attracted many similar rivals

46
Q

Convergence

A

When two or more markets, once considered distinctly seperate, begin to offer similar features and capabilites E.g. mobile phones and media players

47
Q

Envelopment

A

When one market attempts to conquer a new market by making it a subset, component, or feature of its primary offering

48
Q

Backward Compatibility

A

Ability to take advantage of complementary products developed for a prior generation of technology

49
Q

Adaptor

A

A product that allows a firm to tap into the complementary products, data, or user base of another product or service

50
Q

Osborne Effect

A

When a firm preannounces a forthcoming product or service and experiences a sharp and detrimental drop in sales of current offerings as users wait for the new item

51
Q

Open Source Software (OSS)

A

Software that is free and where anyone can look at and potentially modify the code

52
Q

Cloud Computing

A

Replacing computing resources (hardware or software) with service provided over the internet

53
Q

Software as a Service (SaaS

A

A form of cloud computing where a firm subscribes to a thrid-party and recieves a service that is delived online

54
Q

Virtualization

A

A type of software that allows a single computer to function as several different computers. Underpins most cloud computing efforts, can make computing more efficient, cost-effective, and scalable. E.g VMware

55
Q

Linux

A

An open source software operating system

56
Q

LAMP

A

Linux operating system, Apache Web sever software, MySQL database, and any program languages that start with P (Python, Perl, and PHP)

57
Q

Scalability

A

Ability to either handle increasing workloads or to be easily expanded to manage workload increases.

58
Q

Utility Computing

A

A form of cloud computing where a firm develops its own software, and then runs it over the internet ona service provider’s computers

59
Q

Saas, Paas, Iaas

A

Software, platforms, infrastructure as a Service. The further down you go, the more support and maintenance services needed.

60
Q

Service Level Agreement (SLA)

A

A negotiated agreement between the customer and the vendor

61
Q

Vertical Niches

A

Products and service designed to target a specific industry, aka vertical markets. E.g. pharma, legal

62
Q

Platform as a Service

A

Where cloud providers offer services that include the hardware, operating system, development tools, testing, and hosting (the platform) that its customers use to build their own applications on the providers infrastructure

63
Q

Infrastructure as a Service

A

Where cloud providers offer services that include running the remote hardware, storage, and networking (the infrastructure), but the client firms can choose the software used.

64
Q

Cloudbursting

A

The use of cloud computing to provide excess capacity during periods of spiking demands. A scalability solution

65
Q

Black Swans

A

Unpredicted, but highly impactful events. Scalable computing resources can help a firm deal with spiking impact from black swan events

66
Q

Server Farm

A

A massive network of computer servers running software to coordinate their collective use. Provide the infrastructure backbone to Saas and hardware cloud efforts.

67
Q

Containers

A

A type of virtualization that allows for shared operating systems for more resource savings and faster execution.

68
Q

Virtual Desktops

A

When a firm runs an instance of a PC’s software on another machine and simply delivers the image of what’s executing to the remote device.

SY Spring Semester (4 decks)

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