MIS 301 EXAM 1 QUESTIONS AND 100%
VERIFIED ANSWERS
\.Disruptive Technology - ANSWERS -a new way of doing things that initially
does not meet the needs of existing customers. These tend to open new markets
and destroy old ones.
\.Mental Models - ANSWERS -clusters of propositions/knowledge structures
that guide our interaction with the world.
Evidence: create map and found same pattern longer distance took longer
\.barriers to entry - ANSWERS -anything that keeps new firms from entering an
industry in which firms are earning economic profits
\.Business Process - ANSWERS -a standardized set of activities that accomplish
a specific task, such as processing a customer's order
\.Capital intensity - ANSWERS -the amount of fixed or real capital present in
relation to other factors of production, especially labor.
\.channel conflict - ANSWERS -in e-commerce a conflict that may result
between a manufacturer that wants to sell products directly to consumers and the
retailers in the existing sales channels
, \.commodity - ANSWERS -an item of trade or commerce, esp. as distinguished
from a service
\.distribution channels - ANSWERS -This refers to the movement of products or
services from the producer to the consumer.
\.economies of scale - ANSWERS -as a company produces larger numbers of a
particular product, the cost of each of these products goes down
\.fast follower problem - ANSWERS -exists when savvy rivals watch a pioneer's
effort, learn from their successes and missteps and then enter the market quickly
with a comparable or superior product at a lower cost before the first mover can
dominate
\.information asymmetry - ANSWERS -the concept that the manager generally
has more information about the true financial position and results of operations
of the entity than the absentee owner does
\.porters 5 forces - ANSWERS -1. Threat of new entrants
2. the bargaining power of buyers
3.the bargaining power of suppliers
4. the threat of substitutre products and services
5. the intensity of rivalry among competitiors
VERIFIED ANSWERS
\.Disruptive Technology - ANSWERS -a new way of doing things that initially
does not meet the needs of existing customers. These tend to open new markets
and destroy old ones.
\.Mental Models - ANSWERS -clusters of propositions/knowledge structures
that guide our interaction with the world.
Evidence: create map and found same pattern longer distance took longer
\.barriers to entry - ANSWERS -anything that keeps new firms from entering an
industry in which firms are earning economic profits
\.Business Process - ANSWERS -a standardized set of activities that accomplish
a specific task, such as processing a customer's order
\.Capital intensity - ANSWERS -the amount of fixed or real capital present in
relation to other factors of production, especially labor.
\.channel conflict - ANSWERS -in e-commerce a conflict that may result
between a manufacturer that wants to sell products directly to consumers and the
retailers in the existing sales channels
, \.commodity - ANSWERS -an item of trade or commerce, esp. as distinguished
from a service
\.distribution channels - ANSWERS -This refers to the movement of products or
services from the producer to the consumer.
\.economies of scale - ANSWERS -as a company produces larger numbers of a
particular product, the cost of each of these products goes down
\.fast follower problem - ANSWERS -exists when savvy rivals watch a pioneer's
effort, learn from their successes and missteps and then enter the market quickly
with a comparable or superior product at a lower cost before the first mover can
dominate
\.information asymmetry - ANSWERS -the concept that the manager generally
has more information about the true financial position and results of operations
of the entity than the absentee owner does
\.porters 5 forces - ANSWERS -1. Threat of new entrants
2. the bargaining power of buyers
3.the bargaining power of suppliers
4. the threat of substitutre products and services
5. the intensity of rivalry among competitiors
