OIM 210 Final Exam Prep with Questions and Answers

OIM 210 Final Exam Prep with Questions and Answers Google Maps integrated a couple of Uber features like the ability to Get an Uber and see the estimated drop-off time. You can also see the estimated pick-up time and price for your route. These two applications (Google and Uber) can now talk to each other thanks to a programmatic hook called: ANSWER An application program interface (API) Netscape, which once controlled more than 80 percent of the market share in Web browsers, lost its dominant position when customers migrated to Internet Explorer, Microsoft's Web browser. Internet Explorer was easy to install and had no significant differences in terms of usability. This example serves to illustrate that: ANSWER firms with low switching costs can sometimes be rapidly overtaken by strong rivals with additional competitive advantages. Dell, previously the world's number one PC manufacturer, has seen its market share shrink because of rivals copying its value chain and reducing the price advantage it enjoyed over rivals. Dell's present struggles: ANSWER underscore the importance of continually assessing a firm's strategic position among changing market conditions. "Geico spends more than a billion dollars per year on advertising. A firm can spend so much money to raise awareness, but brands are built solely through:" ANSWER Customer experience A used boat salesman often has more information about the reliability of secondhand boats than their potential buyers. What may seem like a good boat to a lightly informed client may actually be inadequate based on the salesman's private information. This is what is described in business as: ANSWER Information Asymmetry