BITM 215 EXAM QUESTIONS AND ANSWERS LATEST UPDATE A+
GRADED
cost structure examples
Rent, utilites, payroll, etc.
What does SMAC stand for?(in digital Economy)
Social Mobile Analytics Cloud
What does social in SMAC mean?
Social media, mainly mobile things
What companies uses analytics in SMAC?
Uber and grubhub
What is cloud from SMAC stand for and examples?
Not a physical place ex: Dropbox, amazon
What does IoT stand for?
Internet of Things
What is an example of an internet of things?
Smart fridge (all digital machines and no people!)
What is an example of future digital disruption?
3D printing (guns, limps)
What is an example of digital expanding from a one to two way value creation?
Uber
What is an exchange platform and an example?
1:1 interaction ; Uber bc one car comes
What are the four phases of the bubble and an example?
Stealth, awareness, mania, blow off phase ; bitcoin
What is an example of basis of competition?
Taxi vs Uber
What is reverse innovation and an example?
Developing counties (3rd world) create innovations that are taken too already developed
counties (1st world) ; John deer small tractor
What are examples of what the s curve represents?
Life cycle, products, getting degree has break even point where you make money
What is the average income for a family of four?
51-55k
What does day 0 represent for a business?
The upfront costs
What is a business plan?
Action plan to manage, organize and sustain a business
What are 5 reasons a business plan is important?
1. Identify target market
2. Plan future
3. Monitor progress
4. Raise money or expand
5. Buy existing businesses
What are the 8 elements of a business plan?
GRADED
cost structure examples
Rent, utilites, payroll, etc.
What does SMAC stand for?(in digital Economy)
Social Mobile Analytics Cloud
What does social in SMAC mean?
Social media, mainly mobile things
What companies uses analytics in SMAC?
Uber and grubhub
What is cloud from SMAC stand for and examples?
Not a physical place ex: Dropbox, amazon
What does IoT stand for?
Internet of Things
What is an example of an internet of things?
Smart fridge (all digital machines and no people!)
What is an example of future digital disruption?
3D printing (guns, limps)
What is an example of digital expanding from a one to two way value creation?
Uber
What is an exchange platform and an example?
1:1 interaction ; Uber bc one car comes
What are the four phases of the bubble and an example?
Stealth, awareness, mania, blow off phase ; bitcoin
What is an example of basis of competition?
Taxi vs Uber
What is reverse innovation and an example?
Developing counties (3rd world) create innovations that are taken too already developed
counties (1st world) ; John deer small tractor
What are examples of what the s curve represents?
Life cycle, products, getting degree has break even point where you make money
What is the average income for a family of four?
51-55k
What does day 0 represent for a business?
The upfront costs
What is a business plan?
Action plan to manage, organize and sustain a business
What are 5 reasons a business plan is important?
1. Identify target market
2. Plan future
3. Monitor progress
4. Raise money or expand
5. Buy existing businesses
What are the 8 elements of a business plan?
