Untitled Deck

Question 1

What is a smart store?

Answer 1

Store incorporating technology as a part of the customer experience

Question 2

What problem do smart stores face?

Answer 2

Mounting competition from online retailers

Question 3

What is a solution for smart stores to compete with online retailers?

Answer 3

Take advantage of opportunities provided by new technology

Question 4

What technology helps stores manage curbside pickup?

Answer 4

Technology that facilitates curbside pickup management

Question 5

What does a smart shelf enable retailers to do?

Answer 5

View and track products in real time

Question 6

What does low contact cashier-less checkout refer to?

Answer 6

A checkout system that minimizes physical contact

Question 7

What was the global spending on information technology and IT services in 2019?

Answer 7

Nearly 3.8 trillion

Question 8

How much was spent on management consulting and services in 2019?

Answer 8

160 billion

Question 9

What organizational changes are required to derive full business value from IT investments?

Answer 9

Organizational, management, and cultural changes

Question 10

What type of IT innovations are mentioned?

Answer 10

Cloud computing, big data, internet of things, mobile digital platform, AI, and machine learning

Question 11

What is the significance of e-commerce in 2023?

Answer 11

E-commerce worldwide expands to more than 6 trillion

Question 12

How fast is mobile retail e-commerce growing annually?

Answer 12

More than 20 percent a year

Question 13

What is a digital firm?

Answer 13

A firm where significant business relationships are digitally enabled and mediated

Question 14

What are the six strategic business objectives of information systems?

Answer 14

• Operational excellence
• New products, services, and business models
• Customer and supplier intimacy
• Improved decision making
• Competitive advantage
• Survival

Question 15

What is a business model?

Answer 15

How a company produces, delivers, and sells its products and services

Question 16

What is the impact of accurate information on decision making?

Answer 16

Improves ability of managers to make decisions

Question 17

What are the three activities of information systems that produce information?

Answer 17

• Input
• Processing
• Output

Question 18

What is the difference between a computer and an information system?

Answer 18

Computers and software are technical tools, while an information system manages information to support decision making

Question 19

What is the role of managers in information systems?

Answer 19

Set organizational strategy and create new products and services

Question 20

What are complementary assets in relation to IT investments?

Answer 20

Assets required to derive value from a primary investment

Question 21

What is a knowledge management system?

Answer 21

Supports processes for capturing and applying knowledge and expertise

Question 22

What differentiates e-business from e-commerce?

Answer 22

E-business uses digital technology for major business processes, while e-commerce is a subset focused on buying and selling

Question 23

What are the types of collaboration technologies?

Answer 23

• Email and instant messaging
• WIKIs
• Virtual worlds
• Collaboration and social business platforms
• Virtual meeting systems
• Cloud collaboration services

Question 24

What are the two dimensions of collaboration technologies?

Answer 24

• Space (remote or co-located)
• Time (synchronous or asynchronous)

Question 25

What is the impact of IT on organizational structure?

Answer 25

IT flattens organizations and pushes decision making to lower levels

Question 26

What is the relationship between organizations and technology?

Answer 26

Organizations and technology influence each other

Question 27

What is the role of the information systems department?

Answer 27

Responsible for information technology services in an organization

Question 28

What is the significance of the Sarbanes-Oxley Act?

Answer 28

Federal regulations impacting financial reporting and corporate governance

Question 29

What are the challenges of globalization for businesses?

Answer 29

* Competition for jobs * Markets * Resources * Ideas

Question 30

What is the role of IT in transaction cost theory?

Answer 30

IT lowers market transaction costs, making it worthwhile for firms to transact with others

Question 31

What is the definition of disruptive technologies?

Answer 31

Substitute products that perform as well as or better than existing products

Question 32

What is meant by 'first movers' in technology?

Answer 32

Inventors of disruptive technologies

Question 33

What do executive support systems do?

Answer 33

Support senior management in non-routine decision making

Question 34

What are intranets?

Answer 34

Internal company web sites accessible only by employees

Question 35

What are extranets?

Answer 35

Company web sites accessible externally only to vendors and suppliers

Question 36

What is the importance of collaboration in modern organizations?

Answer 36

Enhances productivity, quality, innovation, and customer service

Question 37

What is a business process?

Answer 37

Flows of material, information, and knowledge through a set of activities or steps

Question 38

What is decision support systems' main function?

Answer 38

Support non-routine decision making

Question 39

What is the goal of customer relationship management systems?

Answer 39

Optimize revenue and improve customer satisfaction

Question 40

What are the main types of information systems?

Answer 40

* Transaction processing systems * Management information systems * Decision support systems * Executive support systems

Question 41

What has the internet increased for organizations?

Answer 41

Accessibility, storage, and distribution of information and knowledge for organizations

Question 42

How can the internet affect transaction and agency costs?

Answer 42

It can greatly lower transaction and agency costs

Question 43

Provide an example of cost savings through the internet in a large firm.

Answer 43

Large firm delivers internal manuals to employees via a corporate Web Site, saving millions of dollars in distribution costs

Question 44

What are the key organizational factors in planning a new system?

Answer 44

* Environment * Structure * Culture and politics * Type of organizations and style of leadership * Main interest groups affected by the system * Tasks, decisions, and business processes the system will assist

Question 45

What model explains why some firms become leaders in their industry?

Answer 45

Michael Porter's competitive forces model

Question 46

What are the five competitive forces in Porter's model?

Answer 46

* Traditional competitors * New market entrants * Substitute products and services * Customers * Suppliers

Question 47

List the four generic strategies for dealing with competitive forces enabled by using IT.

Answer 47

* Low costs leadership * Product differentiation * Focus on market niche * Strengthen customer and supplier intimacy

Question 48

True or False: The internet can be a transformation or threat to some industries.

Answer 48

True

Question 49

What does the value chain model highlight?

Answer 49

Activities where competitive advantage strategies can be best applied

Question 50

Differentiate between primary activities and support activities in the value chain model.

Answer 50

Primary activities directly add value to products or services, while support activities assist in enhancing the effectiveness of primary activities

Question 51

What is a value web?

Answer 51

Collection of independent firms using highly synchronized IT to coordinate value chains to produce a product or service collectively

Question 52

Define synergies in the context of business units.

Answer 52

When the output of some units is used as inputs to others, or organizations pool markets and expertise

Question 53

What are core competencies?

Answer 53

Activities for which a firm is a world-class leader, relying on knowledge, experience, and sharing across business units

Question 54

What is the virtual company strategy?

Answer 54

Uses networks to ally with other companies to create and distribute products without restraints and organizational boundaries or physical locations

Question 55

What is the law of diminishing returns?

Answer 55

The more a given resource is applied to production, the lower the marginal gain in output

Question 56

What is the marginal cost of adding new participants in network economics?

Answer 56

Almost zero, with much greater marginal gain

Question 57

What are keystone firms in business ecosystems?

Answer 57

Firms that dominate the ecosystem and create platforms used by other firms

Question 58

What is the significance of smart products and the Internet of Things?

Answer 58

Growing use of internet-connected sensors in products expands product differentiation opportunities

Question 59

Fill in the blank: The internet of things involves the growing use of ______ in products.

Answer 59

internet connected sensors

Question 60

What can strategic systems analysis help align?

Answer 60

IT with business objectives

Question 61

What is a potential challenge when adopting strategic systems?

Answer 61

Competitors can retaliate and copy strategic systems

Question 62

What is the role of IT in sustaining competitive advantage?

Answer 62

It may become a tool for survival

Question 63

What is the impact of increasing rivalry between competitors?

Answer 63

Raises switching costs and inhibits new entrants