MIS 301 EXAM 1 (UT AUSTIN MCCOMBS) | 138 QUESTIONS AND ANSWERS | 2026 UPDATE |
WITH COMPLETE SOLUTION
sustainable competitive advantage - (ANSWER)The ability to consistantly outperform industry
averages/peers
4 critical characteristics to maintain a sustainable advantage - (ANSWER)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 - (ANSWER)1- Barbaining power of
customers
2- Threat of Substitues
3- Bargaining power of suppliers
4- Threat of new entrants
5- Rivarly
barriers to entry - (ANSWER)Make it difficult for other firms to enter an industry and compete - makes.
profits more sustainable
examples of barriers to entry - (ANSWER)- Brand
- Regulation
- Distribution Channels
- Captial Intensity
- Switching Costs
- Network Effects
switching costs - (ANSWER)A cost that a consumer incurs when switching from one product to another
, MIS 301 EXAM 1 (UT AUSTIN MCCOMBS) | 138 QUESTIONS AND ANSWERS | 2026 UPDATE |
WITH COMPLETE SOLUTION
Network effects - (ANSWER)exist if the value of a network increases with the number of users
(Facebook)
Porter's Value Chain Model (business structure) - (ANSWER)(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 - (ANSWER)performing the same tasks better than rivals perform them
strategic positioning - (ANSWER)performing different activities from those of rivals, or the same
activities in a different way
5 models for analyzing business(The Value Chain) - (ANSWER)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
WITH COMPLETE SOLUTION
sustainable competitive advantage - (ANSWER)The ability to consistantly outperform industry
averages/peers
4 critical characteristics to maintain a sustainable advantage - (ANSWER)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 - (ANSWER)1- Barbaining power of
customers
2- Threat of Substitues
3- Bargaining power of suppliers
4- Threat of new entrants
5- Rivarly
barriers to entry - (ANSWER)Make it difficult for other firms to enter an industry and compete - makes.
profits more sustainable
examples of barriers to entry - (ANSWER)- Brand
- Regulation
- Distribution Channels
- Captial Intensity
- Switching Costs
- Network Effects
switching costs - (ANSWER)A cost that a consumer incurs when switching from one product to another
, MIS 301 EXAM 1 (UT AUSTIN MCCOMBS) | 138 QUESTIONS AND ANSWERS | 2026 UPDATE |
WITH COMPLETE SOLUTION
Network effects - (ANSWER)exist if the value of a network increases with the number of users
(Facebook)
Porter's Value Chain Model (business structure) - (ANSWER)(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 - (ANSWER)performing the same tasks better than rivals perform them
strategic positioning - (ANSWER)performing different activities from those of rivals, or the same
activities in a different way
5 models for analyzing business(The Value Chain) - (ANSWER)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
