MIS 301 EXAM 1 (UT AUSTIN MCCOMBS)
COMPLETE 138 QUESTIONS AND 100%
VERIFIED ANSWERS
\.sustainable competitive advantage - ANSWERS -The ability to consistantly
outperform industry averages/peers
\.4 critical characteristics to maintain a sustainable advantage - ANSWERS -
1)Valuable
2)Rare
3)Imperfeclty imitable(tough to imitate)
4)Nonsubstitutable
*These also help create Barriers to Entry
\.Micheal E. Porters book "Competitive Advantage" - Porter's 5 Forces -
ANSWERS -1- Barbaining power of customers
2- Threat of Substitues
3- Bargaining power of suppliers
4- Threat of new entrants
5- Rivarly
,\.barriers to entry - ANSWERS -Make it difficult for other firms to enter an
industry and compete - makes. profits more sustainable
\.examples of barriers to entry - ANSWERS -- Brand
- Regulation
- Distribution Channels
- Captial Intensity
- Switching Costs
- Network Effects
\.switching costs - ANSWERS -A cost that a consumer incurs when switching
from one product to another
\.Network effects - ANSWERS -exist if the value of a network increases with the
number of users (Facebook)
\.Porter's Value Chain Model (business structure) - ANSWERS -(Support
Functions) infrastructure: GM, planning, finance, IS
HRM: recruiting, hiring, training and development
Technology: research and development
(Primary Functions)
1) Inbound Logistics
2) Operations
3) Outbound Logistics
, 4). Marketing and Sales
5) Service
\.Operational Effectiveness - ANSWERS -performing the same tasks better than
rivals perform them
\.strategic positioning - ANSWERS -performing different activities from those of
rivals, or the same activities in a different way
\.5 models for analyzing business(The Value Chain) - ANSWERS -1)Examine
Industry Structure- Porter's 5 Forces Model
2)Choose our competitive Strategy- Porter's Model of Competitive Advantage
3)Link the parts of the value chain- Porter's Value chain model
4)streamline business processes- any business process diagram
5)Design IS - 5 Component IS Framework
- Enable business processes
- improve value chain links to increase efficiency
- support competitive strategy
- influence industry structure
\.Inventory Turns - ANSWERS -The number of times inventory is sold or used
during a specific period (such as a year or quarter). A higher figure means a firm is
selling products quickly.
COMPLETE 138 QUESTIONS AND 100%
VERIFIED ANSWERS
\.sustainable competitive advantage - ANSWERS -The ability to consistantly
outperform industry averages/peers
\.4 critical characteristics to maintain a sustainable advantage - ANSWERS -
1)Valuable
2)Rare
3)Imperfeclty imitable(tough to imitate)
4)Nonsubstitutable
*These also help create Barriers to Entry
\.Micheal E. Porters book "Competitive Advantage" - Porter's 5 Forces -
ANSWERS -1- Barbaining power of customers
2- Threat of Substitues
3- Bargaining power of suppliers
4- Threat of new entrants
5- Rivarly
,\.barriers to entry - ANSWERS -Make it difficult for other firms to enter an
industry and compete - makes. profits more sustainable
\.examples of barriers to entry - ANSWERS -- Brand
- Regulation
- Distribution Channels
- Captial Intensity
- Switching Costs
- Network Effects
\.switching costs - ANSWERS -A cost that a consumer incurs when switching
from one product to another
\.Network effects - ANSWERS -exist if the value of a network increases with the
number of users (Facebook)
\.Porter's Value Chain Model (business structure) - ANSWERS -(Support
Functions) infrastructure: GM, planning, finance, IS
HRM: recruiting, hiring, training and development
Technology: research and development
(Primary Functions)
1) Inbound Logistics
2) Operations
3) Outbound Logistics
, 4). Marketing and Sales
5) Service
\.Operational Effectiveness - ANSWERS -performing the same tasks better than
rivals perform them
\.strategic positioning - ANSWERS -performing different activities from those of
rivals, or the same activities in a different way
\.5 models for analyzing business(The Value Chain) - ANSWERS -1)Examine
Industry Structure- Porter's 5 Forces Model
2)Choose our competitive Strategy- Porter's Model of Competitive Advantage
3)Link the parts of the value chain- Porter's Value chain model
4)streamline business processes- any business process diagram
5)Design IS - 5 Component IS Framework
- Enable business processes
- improve value chain links to increase efficiency
- support competitive strategy
- influence industry structure
\.Inventory Turns - ANSWERS -The number of times inventory is sold or used
during a specific period (such as a year or quarter). A higher figure means a firm is
selling products quickly.
