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definitions Flashcards

1
Q

what was the first spreadsheet and in what order were they created?

A

Visicalc was the first

visi/lotus 123/excel

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2
Q

Who was the cretor of visicalc?

A

Dan Bricklin

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3
Q

what were the two disastors caused by errors in spreadsheets?

A
  • Reinhart and Rogoff (2009): An Excel error in a famous economic study that influenced European austerity measures and prolonged the recession.
  • London Whale (2012): JP Morgan’s $6.2 billion
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4
Q

what are a workbook and worksheet?

A

An Excel file is called a workbook, which contains multiple worksheets (spreadsheets).

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5
Q

where is the ribbon?

A

he toolbar at the top, is divided into tabs (e.g., Home, Insert, Formulas) and sections within those tabs.

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6
Q

what is the name box and formula bar?

A

Located at the top of the grid; the name box displays the selected cell, and the formula bar is used to enter and edit formulas.

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7
Q

what is hard coding?

A

instead of entering static numbers use cell references to prevent errors and make updates easier

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8
Q

IPO

A

Initial public stock offering the first time a firm makes shares available via public stock exchange also known as going public

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9
Q

(ioT)

A
  • about connecting everyday objects and devices to the internet so they can collect and share data automatically. This includes things like smart thermostats, fitness trackers, and even household appliances that can communicate and work together, making our lives more convenient and efficient.
  • Internet of things
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10
Q

Opensource software

A

Software with source code that anyone can inspect, modifym and enhance

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11
Q

Cloud computing

A

The delivery of computing services (including servers, storage, databases, networking, software, and analytics) over the internet (“the cloud”) to offer faster innovation, flexible resources, and economies of scale. Examples include Amazon Web Services (AWS) and Microsoft Azure.

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12
Q

Software as a service (SaaS)

A
  • refers to software applications that you can access and use directly through a web browser over the internet, without needing to download or install anything locally on your computer. to customers over the internet.
  • SaaS allows users to connect to and use cloud-based apps via the internet (e.g., Google Workspace, Microsoft Office 365).
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13
Q

what is disruptive innovation?

A
  • innovation that comes into the market that is not valued but has the potential to become valuable and disrupt the market
    -two main charchteristics is that has to be simple and have performance improvement
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14
Q

what is sustaining innovation?

A

It improves something by making it better but not a disruption like iPhone

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15
Q

what can you do to avoid being crushed by disruptive innovation ?

A
  • adapt early
  • predict when it will happen
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16
Q

how can you recognize DI?

A
  • Pay attention to new emerging technologies
  • Have convos with experimental people or other people
  • Rotate staff for more idea-sharing
  • Pay attention to employees with ideas because they are the ones who often leave to go start a new adventure
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17
Q

what actions can we take once recognizing DI?

A

Start a portfolio of options
Options: give the firm the right to continue and help make small investments
Geographic and operational separation keep experimental efforts away from the parent company to avoid resource conflicts
Support from executives

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18
Q

why was Untuit sucessful?

A

they were acquirng different models to even though they were canav=blizing themoid canablization
- migration to the cloud helped them rely more on AI
- they took the disruption and invested in internal efforts, shifted to free produt, cloud based products and now leveraging ai and machine learning

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19
Q

What is KPI

A

Key Performance Indicators
- are measurable values set by a company to show progress towards specific goals.
- . Examples are quite broad and could include customer acquisition, cost reduction, or improvement in the ROI of online ad campaigns.

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20
Q

Bitcoin?

A

An open-source, decentralized payment system that operates in a peer-to-peer environment, without bank or central authority.

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21
Q

benefits of bitcoin? and issues?

A

Reduces fees
Used for quick transfer for international transactions
Sorta transparent
Let the transaction be public not the user
Faster and cheaper

Hard to use for a lot of people
Security
A lof of crimes are committed this way
Velocity

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22
Q

what are bloackchains?

A

The transactions are recorded in a decentralized public ledger called a blockchain
distributed and decentralized ledger that records and verifies transactions and ownership, making it difficult to tamper with or shutdown

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23
Q

what are miners?

A

Miners verify and timestamp transactions with a cut if the money
There needs to be a private key that is stored in a crypto wallet
Secure in a way that no one can guess your password

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24
Q

why is moores law dying?

A
  • tightly packaging creates issues because if its size, heat and power
  • the smaller it is the more it needs to cool down and that takes a lot of power
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25
Q

what can we do to buy more time in fixing moores law?

A
  • design the chips with multiprocessors (2+ calculating processor cores on the same piece of silicon)
  • overclocking: firms are boosting the speed and efficency of chips (need suppression)
  • Transistors: Super-tiny on-off switches in a chip that work collectively to calculate or store things in memory.
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26
Q

what is e-waste?

A
  • tech that is thrown away
  • contains bits of silver, platnium and gold
  • requires recycling whixh is very labor intensive
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27
Q

what are the issues of w-waste?

A
  • create so mucg that if you were to throw away all commerical aircrafts away that would only equal one year
  • recyclung is hard bc of different matreials needed to extract teh metals
  • sending to poor countires to recyle - health hazards
  • bad regulations
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28
Q

how can you responibly dispose e-waste?

A
  • Orgs likes Basel Action Network program certifies people
  • Leading tech forms should recycle
  • Consider the environmental impact of the tech taht they are making
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29
Q

How does Disney’s MyMagic+ system use big data analytics and efficient scheduling algorithms to enhance guest experience and park operations?

A
  • it books rides to minimize wait and spread out guests to cut on time and bring in more guests
  • it gives them a lot of data about hen to add more staff, stock and montor money
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30
Q

microprocessor?

A
  • rain of computing device
  • A component that performs the instructions and tasks involved in computer processing.
  • Sometimes referred to as a cpu
31
Q

RAM

A

Random access memory is a computer’s short-term memory.

32
Q

Volatile memory

A

Is computer storage that only maintains its data while the device is powered

33
Q

Non-volatile memory

A

Is memory that retains its values even after power is removed

34
Q

flash memory

A

Is a long-lived non-volatile memory

35
Q

Semiconductor

A

A substance such as silicon dioxide used inside most computer chips that is capable of enabling and inhibiting the flow of electricity
If it were a perfect inhibitor there would be no inhibition

36
Q

Optical fiber

A
  • High-speed glass or plastic-lined networking cable used in telecommunications
    Led to high-speed internet
    Before it was copper wires so it was much slower
37
Q

what are server farms? latency?

A
  • Server farms: Massive network of computer servers running software to coordinate their collective use. (draw 5% of energy in the USA)
  • latency : Delay in networking and data transfer speeds.
    Low latency systems are faster systems.
    The delay
38
Q

grid computing? cluster computing?

A
  • Grid computing: Uses special software to enable several computers to work together on a common problem as if they were a massively parallel supercomputer. (Doing the same task )
  • Cluster computing: Connecting server computers via software and networking so that their resources can be used to collectively solve computing tasks.
39
Q

parallel computing

A

Computers are designed with many microprocessors that work simultaneously to solve problems.

40
Q

storage capacity vs bandwidth

A
  • Bandwidth (telecommunication capacity) is lifted in bits per second
    How much information you can transmit
  • Storage capacity is how much you can save
41
Q

what are the key differences between Zara and Gap? (what makes Zara so successful?)

A

-

42
Q

what is contract manufacturing

A

Outsourcing production to third-party firms. Firms that use contract manufacturers do not own the plants or directly employ the workers who produce the requested goods

43
Q

what are the advantages and disadvantages of using contract manufacturing?

A

Advantages
lower costs and increased profits
Disadvantages
Sweatshop labor, poor working conditions, and environmental abuse
Firms face legal action, brand damage, reduced sales, and decreased appeal among prospective employees
With social media people are more aware

44
Q

what is the SLA?

A

(Service Level Agreements) moving the responsibility to a 3rd party

45
Q

vertical integration

A

When a single firm owns several layers in its value chain

46
Q

Value chain:

A

set of activities through which PDT or services are created and delivered to customers

47
Q

where does Zara gets its data from?

A
  • they use custom apps to get insight on what customers want to see
  • managers have skin in the game because 70% of their sale performance comes from this
  • they look at what customers did not purchase
  • Point of sale systems - sales data (tells what is being sold)
    PDA tells what the customers at a given location want to see in the shelves
48
Q

why does Zara do limited production runs?

A
  • Create exclusivity bc they are looking and stocking areas with those clothes
  • Encourages customers to buy right away and at full price
  • Visit more often
  • Reduce mistakes
49
Q

RFID?

A
  • radio frequency identification tags wisely emit a unique identification code for the individual item that they are attached to
  • It lets them track the product, take inventory
50
Q

Omnichannel

A

where a business provides a seamless and consistent customer experience across all shopping channels, like online, mobile apps, and physical stores.
- Zara blends this to benefit the customer

51
Q

why did Prada fail? what did this show to other companies?

A
  • Prada spent a lot of money on new tech but failed because it was not simple to use
  • An information system (IS) is an integrated solution that combines 5 components: hardware software data procedures and people - they should get a right mix of these
52
Q

what are the limitations Zara has ?

A
  • 2 delivery locations - can be susceptible to disruptions in the region
  • financial vulnerabilities: susceptible to currency fluctuations since development and manufacturing occur in one country.
  • Rising transportation costs.
53
Q

why do firms suffer from aggressive competition?

A

They define themselves according to operational effectiveness rather than strategic positioning

54
Q

Operational effectiveness:

A
  • refers to performing the same tasks better than rivals perform them
  • The issue is the idea of sameness
  • When offerings are roughly the same they become a commodity rather than being different
55
Q

what problem does operational effectiveness create?

A
  • competition will just focus on being the cheapest
  • creates the fast follower problem: which exists when savvy rivals watch pioneers’ efforts learn from their success and missteps then enter the market quickly with a comparable or superior product at a lower cost before the first mover can dominate
56
Q

what is strategic positioning?

A

refers to performing different activities from those of rivals or the same activities in a different way

57
Q

Sustainable competitive advantage? why is it hard to do?

A
  • Financial performance that consistently outperforms their industry peers
  • Bc of the rapid emergence of new pdts and competitors
58
Q

resource-based view of competitive advantage

A
  • if a firm is to maintain a sustainable competitive advantage it must control a set of exploitable reduces that have four critical characteristics
  • Valuable, rare, imperfectly imitable and nonsubsituable
59
Q

what is an 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

60
Q

what effect does analyzing a firms chain do?

A

can show operational weaknesses and tech is often of great benefit to improving the speed and quality of execution

61
Q

what is not enough as a barrier to entry?

A
  • timing and technology can only be enablers for competitive advantage
  • the barrier to entry in tech Is low
62
Q

if a product cannot be differentated what does it end up becoming?

A

Commodities: pdts that are nearly identically offered by multiple vendors

63
Q

what is porters five forces?

A
  • (industry and competitive analysis) : Porter states that firms defining themselves according to operational effectiveness suffer aggressive, margin-eroding competition.
  • Intensity of rivalry among existing competitors
    The threat of new entrants
    The threat of substitute goods or services
    The bargaining power of buyers
    The bargaining power of suppliers
64
Q

what is a scale advantage? economies of scale?

A
  • Scale advantage: advantages gained as they grow in size
    = As they benefit from economies of scale they are referred to as scaleable
  • Economies of scale: The cost of an investment can be spread across increasing units of production or in serving a growing customer base
65
Q

what are network effects?

A
  • exists when a pdt becomes more valuable as more people use it
  • Switching costs determines the strength of the network effect
  • Referred to as network externalities or Metcalfe’s Law.
66
Q

what are the two types of cloud computing?

A
  • Software as a service (running someone else’s software from their servers)
  • Utility computing (running our own software on someone else’s computers)
67
Q

what impact does tech have on finance?

A
  • Suited to IPO markets (initial public offerings)
  • Continuous involved in mergers and acquisitions (M&A)
  • Lending to tech firms
  • Evaluating the role of technology in firms in an investment portfolio
68
Q

what effect has technology had on accounting?

A
  • The reliability of any audit is tied to the reliability of the underlying technology
  • Increased regulation has strengthened the link between accounting and technology
69
Q

what is the Sarbanes-Oxley Act ?

A
  • raised the executive and board responsibilities and tied criminal penalties to certain accounting and financial violations
70
Q

what kind of effect does technology have on marketing?

A
  • Firms use online channels to track and monitor consumer activities
  • Firms are shifting spending from traditional media to the web (Track customers /Analyze campaign results /Modify tactics)
  • Firms are using apps to develop location-based messages and services and for cashless payments
  • Firms are using social media to (generate sales/ improve their reputation/ better serve customers)
71
Q

what impact has technology on HR?

A
  • Knowledge management systems (Helps in organizing and leveraging teams of experts )
  • employee training screening and evaluation
  • recruiting
72
Q

how has technology integrated into law?

A
  • Activity has increased in the areas of intellectual property patent piracy and privacy
  • Firms need legal teams with the skills to:
  • Determine whether a firm can legally fo what it plans
  • Help them protect proprietary methods and content
  • Help enforce claims in the home country and abroad
73
Q

what did simon sinek draw?

A
  • a golden circle
  • Center- why (what their purpose is)
  • Middle- How (the computers are beautifully designed simple to use and user-friendly
  • Outer circle - what (every org knows what they do)

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