MIS 301 EXAM 1 QUESTIONS WITH VERIFIED
ANSWERS
\.IPO - ANSWERS -Initial public offering, a corporation's first offer to sell shares
to the public
\.Internet of Things - ANSWERS -A vision where low-cost sensors, processors,
and communication are embedded into a wide array of products and our
environment, allowing a vast network to collect data, analyze input, and
automatically coordinate collective action.
\.Sarbanes-Oxley Act - ANSWERS -Also known as Sarbox or SOX; U.S. legislation
enacted in the wake of the accounting scandals of the early 2000s. The act raises
executive and board responsibility and ties criminal penalties to certain
accounting and financial violations. Although often criticized, SOX is also seen as
raising stakes for mismanagement and misdeeds related to a firm's accounting
practices.
\.sustainable competitive advantage - ANSWERS -Financial performance that
consistently outperforms industry averages.
\.Operational Effectiveness - ANSWERS -Performing the same tasks better than
rivals perform them
,\.Commodity - ANSWERS -A basic good that can be interchanged with nearly
identical offerings by others—think milk, coal, orange juice, or to a lesser extent,
Windows PCs and Android phones. The more commoditized an offering, the
greater the likelihood that competition will be based on price.
\.Fast Follower Problem - ANSWERS -Exists when savvy rivals watch a pioneer's
efforts, learn from their successes and missteps, then enter the market quickly
with a comparable or superior product at a lower cost before the first mover can
dominate.
\.Augmented Reality - ANSWERS -A technology that superimposes content,
such as images and animation, on top of real-world images.
\.Strategic Positioning - ANSWERS -Performing different tasks than rivals, or the
same tasks in a different way.
\.Inventory Turnover - ANSWERS -Sometimes referred to as inventory turnover,
stock turns, or stock turnover. It is the number of times inventory is sold or used
during a given period. A higher figure means that a firm is selling products quickly
\.Straddling Markets - ANSWERS -Attempts to occupy more than one position,
while failing to match the benefits of a more efficient, singularly focused rival.
\.Resource-Based view of Competitive Advantage - ANSWERS -The strategic
thinking approach suggesting that if a firm is to maintain sustainable competitive
advantage, it must control an exploitable resource, or set of resources, that have
, four critical characteristics. These resources must be (1) valuable, (2) rare, (3)
imperfectly imitable, and (4) nonsubstitutable.
\.dense wave division multiplexing (DWDM) - ANSWERS -A technology that
increases the transmission capacity (and hence speed) of fiber-optic cable.
Transmissions using fiber are accomplished by transmitting light inside "glass"
cables. In DWDM, the light inside fiber is split into different wavelengths in a way
similar to how a prism splits light into different colors.
\.Imitation-Resistant Value Chain - ANSWERS -A way of doing business that
competitors struggle to replicate and that frequently involves technology in a key
enabling role.
\.Value Chain - ANSWERS -The set of activities through which a product or
service is created and delivered to customers.
\.Brand - ANSWERS -The symbolic embodiment of all the information
connected with a product or service.
\.Viral Marketing - ANSWERS -Leveraging consumers to promote a product or
service.
\.scale advantages - ANSWERS -advantages related to size
\.Economies of Scale - ANSWERS -When costs can be spread across increasing
units of production or in serving multiple customers. Businesses that have
ANSWERS
\.IPO - ANSWERS -Initial public offering, a corporation's first offer to sell shares
to the public
\.Internet of Things - ANSWERS -A vision where low-cost sensors, processors,
and communication are embedded into a wide array of products and our
environment, allowing a vast network to collect data, analyze input, and
automatically coordinate collective action.
\.Sarbanes-Oxley Act - ANSWERS -Also known as Sarbox or SOX; U.S. legislation
enacted in the wake of the accounting scandals of the early 2000s. The act raises
executive and board responsibility and ties criminal penalties to certain
accounting and financial violations. Although often criticized, SOX is also seen as
raising stakes for mismanagement and misdeeds related to a firm's accounting
practices.
\.sustainable competitive advantage - ANSWERS -Financial performance that
consistently outperforms industry averages.
\.Operational Effectiveness - ANSWERS -Performing the same tasks better than
rivals perform them
,\.Commodity - ANSWERS -A basic good that can be interchanged with nearly
identical offerings by others—think milk, coal, orange juice, or to a lesser extent,
Windows PCs and Android phones. The more commoditized an offering, the
greater the likelihood that competition will be based on price.
\.Fast Follower Problem - ANSWERS -Exists when savvy rivals watch a pioneer's
efforts, learn from their successes and missteps, then enter the market quickly
with a comparable or superior product at a lower cost before the first mover can
dominate.
\.Augmented Reality - ANSWERS -A technology that superimposes content,
such as images and animation, on top of real-world images.
\.Strategic Positioning - ANSWERS -Performing different tasks than rivals, or the
same tasks in a different way.
\.Inventory Turnover - ANSWERS -Sometimes referred to as inventory turnover,
stock turns, or stock turnover. It is the number of times inventory is sold or used
during a given period. A higher figure means that a firm is selling products quickly
\.Straddling Markets - ANSWERS -Attempts to occupy more than one position,
while failing to match the benefits of a more efficient, singularly focused rival.
\.Resource-Based view of Competitive Advantage - ANSWERS -The strategic
thinking approach suggesting that if a firm is to maintain sustainable competitive
advantage, it must control an exploitable resource, or set of resources, that have
, four critical characteristics. These resources must be (1) valuable, (2) rare, (3)
imperfectly imitable, and (4) nonsubstitutable.
\.dense wave division multiplexing (DWDM) - ANSWERS -A technology that
increases the transmission capacity (and hence speed) of fiber-optic cable.
Transmissions using fiber are accomplished by transmitting light inside "glass"
cables. In DWDM, the light inside fiber is split into different wavelengths in a way
similar to how a prism splits light into different colors.
\.Imitation-Resistant Value Chain - ANSWERS -A way of doing business that
competitors struggle to replicate and that frequently involves technology in a key
enabling role.
\.Value Chain - ANSWERS -The set of activities through which a product or
service is created and delivered to customers.
\.Brand - ANSWERS -The symbolic embodiment of all the information
connected with a product or service.
\.Viral Marketing - ANSWERS -Leveraging consumers to promote a product or
service.
\.scale advantages - ANSWERS -advantages related to size
\.Economies of Scale - ANSWERS -When costs can be spread across increasing
units of production or in serving multiple customers. Businesses that have
