Chapter 3 Flashcards

1
Q

are primary production factors provided by the environment.

A

Capital and Labor

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2
Q

transforms these inputs into products and services into production

A

Organization

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3
Q

are consumed by the environments in return for supply inputs

A

Products and Services

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4
Q

All organizations, including business firms, become very efficient over time because individuals in the firm develop _____ for producing goods and services.

A

routines

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5
Q

is a powerful unifying force that restrains political conflict and promotes common understanding, agreement on procedures, and common practices.

A

Organizational Culture

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6
Q

is one of the greatest difficulties of bringing about organizational change- especially the development of new information system.

A

Political Resistance

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7
Q

The kind of information systems you find in the business firm and the nature of problems with these systems often reflects the type of _______

A

organizational structure.

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8
Q

firms and individuals seek to economize on transaction costs, much as they do on production costs.

A

Transaction Cost Theory

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9
Q

Large, bureaucratic organizations, which primarily developed before the computer age, are often inefficient, slow to change, and less competitive than newly organizations.

A

IT Flattens Organizations

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10
Q

based more on history and sociology than economics also support the notion that IT should flatten hierarchies.

A

Post-Industrial Theories

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11
Q

Internet, specially World Wide Web

A

), has an important impact on the relationships between many firms and external entities, and even on the organization of business processes inside a firm

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12
Q

This is the most widely used model for understanding competitive advantage.

A

Porter’s Competitive Forces Model

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13
Q

All firms share market space with other competitors who are continuously devising new, more efficient ways to produce by developing their brands and imposing switching costs on their customers

A

Traditional Competitors

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14
Q

In a free economy with mobile labor and financial resources new companies are always entering the market place. In some industries, there are very low barriers to entry, whereas in other industries, entry is difficult

A

New Market Entrants

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15
Q

In just about every industry, there are substitutes that your customers might use if your prices become too high. New technologies create new substitutes all the time

A

Substitute Products and Services

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16
Q

A profitable company depends in large measure on its ability to attract and retain customers

A

Customers

17
Q

The market power of suppliers can have a significant impact on firm profits, especially when the firm cannot raise prices as fast as can suppliers.

A

Suppliers

18
Q

Use information to achieve the lowest cost and the lowest prices.

A

Low-Cost Leadership

19
Q

Use information system to enable new products and services, or greatly change the customer’s convenience by using your existing products and services

A

Product Differentiation

20
Q

Use information system to enable specific market focus, and serve this narrow target market better than competitors.

A

Focus on Market Niche

21
Q

Use information system to tighten linkages with suppliers and develop intimacy with customers

A

Strengthen Customer and Supplier Intimacy

22
Q

Highlights specific activities in business where competitive strategies can be best be applied and where information systems are most likely to have a strategic impact.

A

Value Chain Model

23
Q

Are more directly related to the production and distribution of the firm’s products and services, which create value for the customer.

A

Primary Activities

24
Q

It makes the delivery of the primary activities possible and consist of organization infrastructure, human resources, technology, and procurement.

A

Support activities

25
Q

It involves comparing the efficiency and effectiveness of your business processes against strict standards and then measuring performance against those standards.

A

Benchmarking

26
Q

is a collection of independent firms that use information technology to coordinate their value chains to produce a product or service for a market collectively.

A

value web

27
Q

The idea of synergy is that when the output of some units can be used as inputs to other units, or two organizations, pool markets and expertise, these relationships lower costs and generate profits.

A

Synergies

28
Q

Is an activity for which a firm is a world-class leader. It relies on the knowledge that is gained over many years.

A

Core Competencies

29
Q

Network-based Strategy

It includes the use of:

A
  • network economics,
  • a virtual company model
  • business ecosystems.
30
Q

a movement between sociotechnical systems.

A

strategic transitions