CIS 105 - Computer Applications and Information Technology Verified 100%.

_____ are rules of thumb to make decisions - correct answers Heuristics _____ is a cognitive bias that describes the tendency to ignore negative information - correct answers Ostrich Effect _____ is the set of activities that a company performs to produce value - correct answers Value chain ______ is an annual list that ranks 500 of the largest United States corporations by total revenue for their respective fiscal years - correct answers Fortune 500 List _______ are products or services that are nearly identically offered from multiple vendors. For such products and services, consumers are highly ______ since they have so many similar choices. - correct answers Commodities; price-focused _______ is a framework for examining a firm's competitive environment. - correct answers Porter's Five Forces _______ refers to the idea that some products and services get more valuable as more people use them - correct answers Network effects ________ refers to performing different activities from those of rivals, or the same activities in a different way. - correct answers Strategic positioning _____________ is when one company hires another company to be responsible for an existing internal activity. - correct answers Outsourcing _____________ is when the ownership of companies, other business organizations, or their operating units are transferred or consolidated with other entities. - correct answers Merger and Acquisition correct ______________ is an unambiguous specification of how to solve a class of problems. - correct answers An algorithm A manager's ability to size up a firm's ________ and understand its _________ is one of the most valuable and yet most difficult skills to master. - correct answers strategic position; likelihood of sustainability A system or object which can be view in terms of its inputs and outputs (or transfer characteristics), without having any knowledge of its internal workings is called a: - correct answers black box Advertising can build ______, but brands are built through _________. - correct answers awareness; customer experience correct An Information System is made up of which of the following? (select all that apply) - correct answers People Procedures Data Information Technology (Hardware and Software) As __________ gets both faster and cheaper, it gets "baked into" all sorts of products and shows up everywhere. - correct answers computing Benchmarking is... - correct answers the process of comparing business processes and performance metrics to best practices and top metrics from other companies. In order for Netflix to launch its service on TV: - correct answers Netflix developed a software platform that was embedded into other hardware Systems that think like humans are called ____. Systems that support humans without understanding human reasoning are called _____. - correct answers Strong AI; Weak AI The "planning fallacy" describes: - correct answers The tendency for people to overestimate their rate of work, or underestimate how long it will take them to get things done. The effect of confirmation bias is stronger for which of the following? - correct answers For emotionally charged issues and for deeply entrenched beliefs This term refers to intelligence as demonstrated by machines, in contrast to the natural intelligence displayed by humans and other animals. (Select all that apply) - correct answers Artificial intelligence True or False: Network effects exist when a product or service becomes less valuable as more people use it. - correct answers False True or False: New technologies have redefined our concepts of software and computing, crushed costs, and fueled data-driven decision making. - correct answers True True or False: The ability to serve large