exam 1

Question 1

Moore’s Law

Answer 1

The number of transistors per square inch on an integrated chip doubles every 18 months

Question 2

Metcalfe’s Law

Answer 2

the value of a network is equal to the square of the number of users connected to it

Question 3

Nielsen’s Law

Answer 3

network connection speeds for high-end users will increase by 50% per year

Question 4

Kryder’s Law

Answer 4

the storage density on magnetic disks is increasing at an exponential rate

Question 5

abstract reasoning

Answer 5

the ability to make and manipulate models

Question 6

Management Information Systems (MIS)

Answer 6

the management and use of information systems that help organizations achieve their strategies

Question 7

Information System

Answer 7

a set of hardware, software, data, people, and procedures that work together to produce information

Question 8

Information Technology (IT)

Answer 8

Relates to any computer-based tool that people use to work with information and support the information and information-processing needs of an organization.

Question 9

Business Process

Answer 9

a network of activities that generate value by transforming inputs into outputs

Question 10

Swimlane Format

Answer 10

graphical arrangement in which all of the activities for a given role are shown in a single vertical lane

Question 11

repository

Answer 11

a place designated for storage

Question 12

data flow

Answer 12

the movement of data among processes, stores, sources, and destinations

Question 13

Bargaining power of customers

Answer 13

the ability of customers to influence the price that they will pay for the firm’s products or services

Question 14

Threat of Substitutes

Answer 14

the idea that products or services available from outside the given industry will come close to meeting the needs of current customers

Question 15

Bargaining power of suppliers

Answer 15

a measure of the influence that suppliers of parts, materials, and services to firms in an industry have on the prices of these inputs

Question 16

Threat of new entrants

Answer 16

a measure of the degree to which barriers to entry make it easy or difficult for new companies to get started in an industry

Question 17

rivalry

Answer 17

competition for the same objective or for superiority in the same field.

Question 18

Competitive Strategy

Answer 18

an organizational strategy for how an organization will compete in its business(es)

Question 19

margin

Answer 19

the difference between the value that an activity generates and the cost of the activity

Question 20

Linkages

Answer 20

interactions across value activities

Question 21

competitive advantage

Answer 21

an advantage over competitors gained by offering greater customer value, either by having lower prices or providing more benefits that justify higher prices

Question 22

information age

Answer 22

Production, distribution, control of information primary economic drivers.

Question 23

digital revolution

Answer 23

From mechanical/analog devices to digital devices

Question 24

Bell’s Law

Answer 24

New class of computers establishes a new industry each decade, Today’s highly successful business could be bankrupt quickly because technology changed and it didn’t. (Blockbuster)

Question 25

business process analysis

Answer 25

used to fix and/or improve processes and processes and procedures (more efficient- benefits vs costs)

Question 26

5 Forces Model

Answer 26

Bargaining power of customers, threat of substitutions, bargaining power of suppliers, threat of new entrants, rivalry