ISM3004 Exam 1 (Scavenger Hunt 1-3)
UPDATED Exam Questions and
CORRECT Answers
What is disruption? - Correct Answer- "To cause something to be unable to continue in its
normal routine" this can be either a treasure or a tumult
Technology is a disruptor - what does that mean? - Correct Answer- Tech creates both
treasure and tumult. These disruptions will accelerate, impact organizations, careers, and job
functions throughout your lifetime.
Technology has caused normal routines to change completely
Advertising - Correct Answer- print ads are practically out, Google alone has more ad
revenue than all of print
Causing the trust of ads to decrease
Education - Correct Answer- Online classes/Universities are taking away from the
"traditional" schooling
Financial Services - Correct Answer- Majority of banking can be done via apps
Credit Card Machine - "Square"
Journalism - Correct Answer- Professional writers aren't being hired by news companies,
because they hire external bloggers
Wikileaks
Retail - Correct Answer- Traditional stores taking a hit by online shopping companies
Share Economy - Correct Answer- Alternative ways to hotels, music, rental cars, taxis
,For video rentals, music industry, and higher education be able to explain...
What was the normal way of doing business? - Correct Answer- Go to a brick and mortar
store like Blockbuster, which included uncertainty, long lines, and late fees
For video rentals, music industry, and higher education be able to explain...
What was the tech change? - Correct Answer- Netflix came with "same but different" change.
It implemented highly efficient distribution centers which shipped and received videos. Their
entire catalogue and recommendations were all on their website.
The way the content was delivered changed. Netflix recognized that CD's weren't the future,
so changed to streaming media across the internet
What was the treasure outcome for some and what was the tumult outcome for others?
Video Rentals - Correct Answer- Treasure Outcome: Netflix
Tumult Outcome: Blockbuster
Netflix is one of the highest grossing streaming platforms and Blockbuster only has one store
left globally
What was the treasure outcome for some and what was the tumult outcome for others?
Music Industry - Correct Answer- Treasure Outcome: Digital music platforms (iTunes,
Spotify)
Tumult Outcome: Physical music
,But in terms of whole album sales, physical music is the treasure and digital music is the
tumult because most people don't digitally buy an entire album, they usually only buy a
single song
What was the treasure outcome for some and what was the tumult outcome for others?
Higher Education - Correct Answer- This is both a treasure and tumult for the universities
that are willing to adapt to changes in technology because it allows them to have more
students no matter where the students are; however, it also means that there may be a time
where physical universities are only available to people who are well off or won't exist at all.
Be able to define the term "share economy" and give an example.
Share Economy - Correct Answer- Refers to a phenomenon whereby asset owners can use
digital clearinghouses to rent the unused capacity of assets they own and consumers rent from
their peers rather than buying or renting from a company
How does IT bring asset owners and consumers together in the share economy? - Correct
Answer- By using Digital Clearinghouses to rent from their peers instead of companies.
How is the share economy disruptive? - Correct Answer- It disrupts the new normal between
consumers and rental businesses.
Briefly explain four key factors causing these disruptions:
Moore's Law
...and who is the tech pioneer who proposed Moore's Law? - Correct Answer- The
observation that computing power roughly doubles every two years at the same price
Gordan Moore (Intel co-founder)
Briefly explain four key factors causing these disruptions:
, Moore's Law
Be able to explain what Moore's Law says. - Correct Answer- Every 2 years, the abilities of
our electronic devices will double while staying at approximately the same price as time goes
on
This also means that a device that has a constant amount of abilities or power will be twice as
cheap every 2 years
Briefly explain four key factors causing these disruptions:
Moore's Law
Some products only need a small amount of computing power. How does Moore's Law make
these products more affordable over time? - Correct Answer- Cost for CPU has become
cheaper and cheaper over the years.
Briefly explain four key factors causing these disruptions:
Social Media
Be able to use one of the statistics about business of social media from the lecture to explain
why over 140 million businesses regularly use Facebook to communicate with their
customers. - Correct Answer- The population of people using facebook is 2.4 billion -
Facebook in size is just behind China and India
Users share their purchases, domino effect (55%)
Relationships/Divorces
Generates about twice the leads as shows, telemarketing, mail
Briefly explain four key factors causing these disruptions:
UPDATED Exam Questions and
CORRECT Answers
What is disruption? - Correct Answer- "To cause something to be unable to continue in its
normal routine" this can be either a treasure or a tumult
Technology is a disruptor - what does that mean? - Correct Answer- Tech creates both
treasure and tumult. These disruptions will accelerate, impact organizations, careers, and job
functions throughout your lifetime.
Technology has caused normal routines to change completely
Advertising - Correct Answer- print ads are practically out, Google alone has more ad
revenue than all of print
Causing the trust of ads to decrease
Education - Correct Answer- Online classes/Universities are taking away from the
"traditional" schooling
Financial Services - Correct Answer- Majority of banking can be done via apps
Credit Card Machine - "Square"
Journalism - Correct Answer- Professional writers aren't being hired by news companies,
because they hire external bloggers
Wikileaks
Retail - Correct Answer- Traditional stores taking a hit by online shopping companies
Share Economy - Correct Answer- Alternative ways to hotels, music, rental cars, taxis
,For video rentals, music industry, and higher education be able to explain...
What was the normal way of doing business? - Correct Answer- Go to a brick and mortar
store like Blockbuster, which included uncertainty, long lines, and late fees
For video rentals, music industry, and higher education be able to explain...
What was the tech change? - Correct Answer- Netflix came with "same but different" change.
It implemented highly efficient distribution centers which shipped and received videos. Their
entire catalogue and recommendations were all on their website.
The way the content was delivered changed. Netflix recognized that CD's weren't the future,
so changed to streaming media across the internet
What was the treasure outcome for some and what was the tumult outcome for others?
Video Rentals - Correct Answer- Treasure Outcome: Netflix
Tumult Outcome: Blockbuster
Netflix is one of the highest grossing streaming platforms and Blockbuster only has one store
left globally
What was the treasure outcome for some and what was the tumult outcome for others?
Music Industry - Correct Answer- Treasure Outcome: Digital music platforms (iTunes,
Spotify)
Tumult Outcome: Physical music
,But in terms of whole album sales, physical music is the treasure and digital music is the
tumult because most people don't digitally buy an entire album, they usually only buy a
single song
What was the treasure outcome for some and what was the tumult outcome for others?
Higher Education - Correct Answer- This is both a treasure and tumult for the universities
that are willing to adapt to changes in technology because it allows them to have more
students no matter where the students are; however, it also means that there may be a time
where physical universities are only available to people who are well off or won't exist at all.
Be able to define the term "share economy" and give an example.
Share Economy - Correct Answer- Refers to a phenomenon whereby asset owners can use
digital clearinghouses to rent the unused capacity of assets they own and consumers rent from
their peers rather than buying or renting from a company
How does IT bring asset owners and consumers together in the share economy? - Correct
Answer- By using Digital Clearinghouses to rent from their peers instead of companies.
How is the share economy disruptive? - Correct Answer- It disrupts the new normal between
consumers and rental businesses.
Briefly explain four key factors causing these disruptions:
Moore's Law
...and who is the tech pioneer who proposed Moore's Law? - Correct Answer- The
observation that computing power roughly doubles every two years at the same price
Gordan Moore (Intel co-founder)
Briefly explain four key factors causing these disruptions:
, Moore's Law
Be able to explain what Moore's Law says. - Correct Answer- Every 2 years, the abilities of
our electronic devices will double while staying at approximately the same price as time goes
on
This also means that a device that has a constant amount of abilities or power will be twice as
cheap every 2 years
Briefly explain four key factors causing these disruptions:
Moore's Law
Some products only need a small amount of computing power. How does Moore's Law make
these products more affordable over time? - Correct Answer- Cost for CPU has become
cheaper and cheaper over the years.
Briefly explain four key factors causing these disruptions:
Social Media
Be able to use one of the statistics about business of social media from the lecture to explain
why over 140 million businesses regularly use Facebook to communicate with their
customers. - Correct Answer- The population of people using facebook is 2.4 billion -
Facebook in size is just behind China and India
Users share their purchases, domino effect (55%)
Relationships/Divorces
Generates about twice the leads as shows, telemarketing, mail
Briefly explain four key factors causing these disruptions:
