EXAM 1 Flashcards
What are Porter’s 5 Forces?
Power of Supplier, Intensity of Competition, Access to Market, Threat of Substitutes, Power of Customer
LOL Power of Supplier
High supplier power, LOL buys from dairy farmers who are very limited already
LOL Intensity of the Competition
Competition for this industry is low, and LOL has a large share of the market, allowing them to have more power
LOL Access to the Market/New Entrants
With technologies growing and jobs being secured through relationships, it makes entering the market much harder, putting LOL in a more stable position
LOL Threat of Substitutes
There is a low threat for substitutes for LOL because milk and other dairy products are key elements to many other foods
LOL Power of Customer
LOL power is very low because there are few suppliers of the products they need
Retention rates increased with better:
HR, Management, and Employee Development
Digital Transformation
a process meant to improve properties with information, computing, communication and connectivity technologies
What are IoT Technologies?
Internet of Things, aka adding a device to an inert object
Software
A computer program or collection of programs
Software Cake Layers:
Hardware, Operating System, Applications, User
Managerial Implications of Software:
Business demand, Legal Issues, Costs, Security
Hardware
Physical components of IT
Firmware
Control programs stored on chips
Embedded systems
Combo of software and hardware designed for a specific function
Moore’s Law
The # of transistors on a microchip doubles about every two years, though the cost of computers is halved
Operating System
Common set of commands for writing programs
7 Components of the Enterprise Resource Planning System
(SHIMPOD) Sales, HR, Inventory, Manufacturing, Purchasing, Order Tracking, Decision Support
Database Mgmt System
Stores and retrieves data from an application
Enterprise software examples:
ERP, SCM, CRM, and BI
The more _____________________, the more valuable the platform becomes
Application Software
3 System Logic Layers
user interface, business logic, and database
What do web services and APIs do?
allows two applications to communicate with one another
3 Advantages of Distributed Computing
(SAL) Speed, accuracy, low-cost
Distributed Computing
Systems in different locations communicate and collaborate with one another
Compiling
Taking messages and turning it into binary code
Programming languages
C++, C#, Visual Basic, and Java
Java is most popular on _____________
Mobile phones
Scripting Languages
Python, R, VB Script and Java Script
IDE
An app that includes an editor, debugger, and compiler
JVM
Interprets Java Code
Software Development Methodologies
Help improve software development projects
Scrum
Breaks projects up into tasks called sprints that are meant to be completed in 1-6 weeks
Info Systems Development Projects rarely _________
succeed
Firms spend ________ of their IS budgets just to keep their systems running
70-80%
Most commonly quotes stock index
S&P 500
Largest Companies by Market Capitalization after 2019
Microsoft, Amazon, Apple
OOH estimates MIS jobs to grow by _____ between 2021-2031, adding _________ jobs
15%, 682,800
SMACIT stands for:
social, mobile, analytics, cloud, internet of things
Percent of firms failing at digital transformation
72%
New technologies have:
Fueled globalization, redefined concepts, lowered costs, data-driven decision-making, automating work
IPO
selling securities to public
Strength of No Code/Low Code
Does not require advanced knowledge
How does Low Code No Code affect businesses?
Automated business processes, more focused on innovation
Sustainable Competitive Advantage
Outperforms industry averages, difficult to achieve bc of new competitors and products
Operational Effectiveness
Performing the same task better than rivals (causes aggressive competition)
Commodity
A basic, substitutable good
Firms should do more _________________________
Strategic Positioning
Strategic Positioning
Differentiating yourself from competition
Technology should be:
Defensibly different and difficult to copy
Fast Follower problem occurs when competitors:
Watch, Learn, Enter Quickly
Technology can be matched _________, so firms are susceptible to _________________
quickly, the fast-follower problem
Who passed Tesla in the electric vehicle market:
BYD
4 Components to maintaining a Sustainable Competitive Advantage:
Valuable, Rare, Hard to Imitate, Non-substitutional
Secondary Value Activities:
Provide the inputs & infrastructure
Primary Value Activities:
Flow of goods and services
Potential danger of software on Value Chain:
Changing a unique process into a basic one
Firms that dominate do not have
High switching costs
6 Sources of Switching Costs:
Learning & Search costs, Info/Data, Financial & Contractual Commitments, Loyalty Programs
Network Effects:
Value of a product incs as its # of users expands
What city did FreshCirect mess up in?
Bronx
4th Industrial Revolution
Rapid change in technology, industries, and societal patterns and processes due to increasing interconnectivity and intelligent technologies
Triple A’s of 4IR
Analytics, Algorithms, AI
What group increased the most between 1900 and 2000
White Collar Workers
FreshDirect percentage of grocery market in NYC:
60%
Product Fit Market:
The degree to which a product satisfies market demand
Competitive Advantages of FreshDirect:
Data Usage, Freshness, Low-Costs, Efficient & Fast
FreshDirect is cutting costs in these departments:
Energy, Pack Time, Labor, Delivery
FreshDirect 3 Tier Model:
Farm/Sea -> Our House -> Your House
FreshDirect lost customers due to:
A more complex system without testing/fallback
Splunk
A tool that helps firm query-related data
2 Catgories of Cloud Computing:
Software as a Service and Hardware as a Service
4 Popular Cloud Computing Companies:
Splunk, Square, SalesForce, Windows Azure
Cloud Computing
Replacing computing with services provided over the Internet
SAAS
3rd party software, recieves service online
HAAS
Firm’s personal software, stored on service-providors computers
2 Types of HAAS
Platform as a Service, Infrastructure as a Service
PAAS example:
Google App Engine, customers build apps on infrastructure
IAAS example:
Google Cloud Storage, offer services to clients
Benefits of SAAS
(FLARP) Fast Deployment, Low costs, Accessibility, Remote Access, Product Enhancement
Risks of SAAS
(BLNNR) Provider Bankruptcy, Locked-In, New Versions, Non-Customizable, Reliance on Network
What do you pay for when you use HAAS?
(PST) Processing, storage, and telecommunications used
______ of corporate tech spending goes toward data center maintenance
80%
IAAS User Managed Components:
1-5
PAAS User Managed Components:
1-2
SAAS PROVIDER Managed Components
(ADRMOVNSS) App, Data, Runtime, Middleware, Operating System, Virtualization, Networking, Storage, Servers
Benefits of Cloud Computing:
(IFANS) Innovative, Financial Analysis, New Software
Risks of Cloud Computing:
Legacy Systems and Mission-Critical Systems
Legacy System
Outdated System
Mission-Critical System
Critical to the survival of the business
Open Source Software (OSS)
Free software that anyone can access and modify
Since OSS code is shared,
It poses a threat to firm’s economic models
Advantages of OSS
(CRASS) Cost, Reliability, Agility/Speed, Security, Scalability
LAMP stands for:
Linux, Apache, MySQL, PHP/Pearl/Python
OSS is supported by
Paid professionals
HeartBleed Bug
2014, largest security breach in the history of the human race, 2/3 leaked
How do vendors make money on OSS?
Selling support and consulting services
OSS valued 1B+
HortonWorks, Docker, Cloudera, MARP, MongoDB
Disadvantages of Linux
Hard to Install, Complex
Virtualization
Running Microsoft on a Mac computer
Secondary Value Components
procurement and purchasing, HR managing, technological development, and company infrastructure
Primary Value Components
inbound operations, operations, outbound logistics, marketing and sales, service
