OIM 210 EXAM 1 NORA JUNAID ZOOMASS
fast follower - Answer -The _____ problem exists when rivals watch a pioneer's efforts,
learn from their successes and missteps, and then enter the market quickly with a
comparable or superior product at a lower cost.
strategic positioning - Answer -_____ refers to performing different tasks than rivals or
the same tasks in a different way.
straddling - Answer -A firm is said to be _____ when it attempts to match the benefits of
a successful position while maintaining its existing position.
different - Answer -According to Porter, strategy is fundamentally about being _____.
rareness, value, imperfectly imitable, non substitutability - Answer -The resource-based
view of competitive advantage states that for a firm to maintain sustainable competitive
advantage it must control a set of exploitable resources that have four critical
characteristics. What are these characteristics?
outbound logistics(and inbound logistics, operations, outbound marketing and sales,
and service) - Answer -Which of the following represents one of the primary
components of the value chain?
scale advantage - Answer -Benefits related to a firm's size are referred to as _____.
price-focused - Answer -Consumers buying commodities are highly _____ since they
have so many similar choices.
handheld computing devices meant largely for mobile use outside an office setting. -
Answer -Personal digital assistants are:
The firm guessed wrong about fashion, placing big bets on trends that consumers didn't
want - Answer -What was considered the source of Mickey Drexler's inventory
problems at Gap?
incremental(sustaining)technology - Answer -relies on incremental improvements to an
already established technology
radical(disruptive)technology - Answer -displaces an established technology and
shakes up the industry or a ground-breaking product that creates a completely new
industry.
example is xyz-incremmental or radical? - Answer -
what is an information system? - Answer -five components- hardware(IT), software,
people, data, procedures
, -definition:components interact to produce information
what is an IPO? - Answer -Initial public stock offering, the first time a firm makes shares
available via public stock exchange, also known as going public.
what is the internet of things? - Answer -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.
network effects - Answer -_____ are said to be at play when the value of a product or
service increases as its number of users expands.
distribution channels - Answer -The paths through which products or services get to
customers are known as _____.
keeping large portions of its production processes in-house - Answer -Zara holds a
competitive advantage over its rivals in spite of:
Contract manufacturing - Answer -_____ involves outsourcing production to third-party
firms.
excess inventory - Answer -In retail in general and fashion in particular, having _____ is
considered the kiss of death.
why is technology being baked into everything? - Answer -technology is becoming
better, faster cheaper
-Fast and cheap computing is allowing for: Internet of Things (IOT):
-Hotel Examples
-MyFitnessPal
Things are only accelerating:
- Drones for farming
SMARTS - Answer --new internet of things
-
what is the most troubling question? - Answer -How can you possibly compete if
someone can copy your technology and the competition is only a click away?
TIVO example - Answer --lacked distribution channels(i.e. cable guys) so failed
-based everything off technology-easily copied
distribution travel - Answer -
fast follower - Answer -The _____ problem exists when rivals watch a pioneer's efforts,
learn from their successes and missteps, and then enter the market quickly with a
comparable or superior product at a lower cost.
strategic positioning - Answer -_____ refers to performing different tasks than rivals or
the same tasks in a different way.
straddling - Answer -A firm is said to be _____ when it attempts to match the benefits of
a successful position while maintaining its existing position.
different - Answer -According to Porter, strategy is fundamentally about being _____.
rareness, value, imperfectly imitable, non substitutability - Answer -The resource-based
view of competitive advantage states that for a firm to maintain sustainable competitive
advantage it must control a set of exploitable resources that have four critical
characteristics. What are these characteristics?
outbound logistics(and inbound logistics, operations, outbound marketing and sales,
and service) - Answer -Which of the following represents one of the primary
components of the value chain?
scale advantage - Answer -Benefits related to a firm's size are referred to as _____.
price-focused - Answer -Consumers buying commodities are highly _____ since they
have so many similar choices.
handheld computing devices meant largely for mobile use outside an office setting. -
Answer -Personal digital assistants are:
The firm guessed wrong about fashion, placing big bets on trends that consumers didn't
want - Answer -What was considered the source of Mickey Drexler's inventory
problems at Gap?
incremental(sustaining)technology - Answer -relies on incremental improvements to an
already established technology
radical(disruptive)technology - Answer -displaces an established technology and
shakes up the industry or a ground-breaking product that creates a completely new
industry.
example is xyz-incremmental or radical? - Answer -
what is an information system? - Answer -five components- hardware(IT), software,
people, data, procedures
, -definition:components interact to produce information
what is an IPO? - Answer -Initial public stock offering, the first time a firm makes shares
available via public stock exchange, also known as going public.
what is the internet of things? - Answer -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.
network effects - Answer -_____ are said to be at play when the value of a product or
service increases as its number of users expands.
distribution channels - Answer -The paths through which products or services get to
customers are known as _____.
keeping large portions of its production processes in-house - Answer -Zara holds a
competitive advantage over its rivals in spite of:
Contract manufacturing - Answer -_____ involves outsourcing production to third-party
firms.
excess inventory - Answer -In retail in general and fashion in particular, having _____ is
considered the kiss of death.
why is technology being baked into everything? - Answer -technology is becoming
better, faster cheaper
-Fast and cheap computing is allowing for: Internet of Things (IOT):
-Hotel Examples
-MyFitnessPal
Things are only accelerating:
- Drones for farming
SMARTS - Answer --new internet of things
-
what is the most troubling question? - Answer -How can you possibly compete if
someone can copy your technology and the competition is only a click away?
TIVO example - Answer --lacked distribution channels(i.e. cable guys) so failed
-based everything off technology-easily copied
distribution travel - Answer -
