MIS 3305 TEST 1 UPDATED PRACTICE EXAM
QUESTIONS WITH VERIFIED ANSWERS
What is MIS
Study of People, Tech,Organizations, and relationships among them.
what is not MIS?
Programming, Data Analysis , Tech Support
Relationship to finance
AI approach to fund allocation research beats traditional strategies
Relationship to Accounting
tech focuses consulting, increased regulation, reliability of auditing
relationship marketing
track and monitor consumer activities, social media, analyze results
Relationship to operations
operations management function is tech-centric
Relationship to HR
recruiting has moved online, social media as a tool for evaluation, online training
Sustainable competitive advantage
Financial performance that consistently outperforms industry averages
Operational effectiveness
Performing the same tasks better than rivals
Commodity
A basic good that can be interchanged with nearly identical offerings
Fast follower problem
Smaller firm watches larger firms successes and failures to release lower priced product
Strategic positioning
Performing different activities than rivals or same activities in a different way
Value chain
set of activities through which a product or service is created and delivered
, Primary value chain
Inbound logistics
Operations
Outbound logistics
Marketing and sales
Service
Secondary Value chain
Firm infrastructure
HR management
tech/research development
Procurement
Scale advantages
Advantages in a company due to size
economies of scale
Spreading costs thinner with higher profit margins due to size
Switching costs
Costs incurred by consumer when switching from one product to another
Network effects
When the value of a product or service increases as the number of users increase
Porter's 5 Forces
Potential new entrants, buyer power, supplier power, threat of substitutes, rivalry and
competition.
price elasticity
Rate at which demand for product or service fluctuates with the price change.
limitations of Moore's law
Reducing the size of pathways creates problems with heat. Chips melt when processor gets small
Ways to slow the death of Moore's law
Multicore microprocessors; contain 2 or more process cores on same silicon, Quantum
computing
super computers
Computers that are among the fastest of their time at introduction
QUESTIONS WITH VERIFIED ANSWERS
What is MIS
Study of People, Tech,Organizations, and relationships among them.
what is not MIS?
Programming, Data Analysis , Tech Support
Relationship to finance
AI approach to fund allocation research beats traditional strategies
Relationship to Accounting
tech focuses consulting, increased regulation, reliability of auditing
relationship marketing
track and monitor consumer activities, social media, analyze results
Relationship to operations
operations management function is tech-centric
Relationship to HR
recruiting has moved online, social media as a tool for evaluation, online training
Sustainable competitive advantage
Financial performance that consistently outperforms industry averages
Operational effectiveness
Performing the same tasks better than rivals
Commodity
A basic good that can be interchanged with nearly identical offerings
Fast follower problem
Smaller firm watches larger firms successes and failures to release lower priced product
Strategic positioning
Performing different activities than rivals or same activities in a different way
Value chain
set of activities through which a product or service is created and delivered
, Primary value chain
Inbound logistics
Operations
Outbound logistics
Marketing and sales
Service
Secondary Value chain
Firm infrastructure
HR management
tech/research development
Procurement
Scale advantages
Advantages in a company due to size
economies of scale
Spreading costs thinner with higher profit margins due to size
Switching costs
Costs incurred by consumer when switching from one product to another
Network effects
When the value of a product or service increases as the number of users increase
Porter's 5 Forces
Potential new entrants, buyer power, supplier power, threat of substitutes, rivalry and
competition.
price elasticity
Rate at which demand for product or service fluctuates with the price change.
limitations of Moore's law
Reducing the size of pathways creates problems with heat. Chips melt when processor gets small
Ways to slow the death of Moore's law
Multicore microprocessors; contain 2 or more process cores on same silicon, Quantum
computing
super computers
Computers that are among the fastest of their time at introduction
