COMM 226 FINAL EXAM / QUESTIONS WITH
CORRECT VERIFIED ANSWERS 2025/ GRADED A+
Moore's Law - ANSWER the number of transistors per square inch on an integrated chip doubles
every 18 months.
Reich nonroutine cognitive skills (4) - ANSWER Abstract reasoning
Systems thinking
Collaboration
Ability to experiment
Abstract reasoning - ANSWER The ability to make and manipulate models
Systems thinking - ANSWER The mental process of making one or more models of components
of a system and connecting the inputs and outputs among those components into a sensible
whole, one that explains the phenomenon observed
Collaboration - ANSWER Most important skill for effective collaboration is to give and receive
critical feedback
Ability to experiment/experimentation - ANSWER careful and reasoned analysis of an
opportunity, envisioning potential products or solutions or applications of technology, an then
developing those ideas that seem to have the most promis, consistent with the resources you
have
Management information systems (MIS) - ANSWER An information system that helps businesses
achieve their goals and objectives
Key elements of MIS - ANSWER Processes, information systems, and information
,Management and use
Achieve strategies
Process/business process - ANSWER A sequence of activities for accomplishing a function
Information system - ANSWER A group of components that interact to produce information
Information - ANSWER Knowledge derived from data, where data is defined as recorded facts or
figures
Data presented in a meaningful context
Data processed by summing, ordering, averaging, grouping, comparing, or other similar
operations
A difference that makes a difference
Management (of MIS) - ANSWER The creation, monitoring, and adapting of processes,
information systems, and information
How does MIS relate to organizational strategy? - ANSWER MIS exist to help organizations
achieve their strategies
Five forces model - ANSWER Model, proposed by Michael Porter, that assesses industry
characteristics and profitability by means of five competitive forces--bargaining power of
suppliers, threat of substitution, bargaining power of customers, rivalry among firms, and threat
of new entrants
Porter's five forces - ANSWER Threat of substitutions
Threat of new entrants
Existing rivals
,Bargaining power of suppliers
Bargaining power of customers
Threat of substitutions/ substitute - ANSWER A competing product that performs the same or
similar function as an industry's product by another means.
What makes threat of substitution stronger - ANSWER Price is lower
Benefits are similar
Easy for buyer to switch products
Threat of new entrants - ANSWER Based on industry barriers to entry and the reaction new
entrants can expect from established companies in the industry
Barriers to entry - ANSWER High customer switching costs
Large financial investments to get started
Sales and distribution channels that are not accessible to new entrants
Government policies
What makes existing rivals stronger - ANSWER Rivals compete with each other using price
discounting, new products, and service improvements
Rivals are numerous
Industry growth is slow
Exit barriers are high
Bargaining power of suppliers/Bargaining power of customers is affected by - ANSWER Number
of available suppliers/customers
Switching costs
, Differentiation of the product
Relative size of the firm
Competitive strategy - ANSWER The strategy an organization chooses a the way it will succeed
in its industry. According to Porter, there are four fundamental competitive strategies: cost
leadership across an industry or within a particular industry segment and product
differentiation across an industry or within a particular segement
Four fundamental competitive strategy - ANSWER Cost leadership across an industry
Cost leadership within a particular industry segment
Product differentiation across an industry
Product differentiation across a particular industry segment
Value - ANSWER The amount of money that a customer is willing to pay for a resource, product,
or service
Value chain - ANSWER A network of value-creating activities
Margin - ANSWER The difference between the value that an activity generates and the cost of
the activity
Primary activities in a value chain - ANSWER The fundamental activities that create value
Inbound logistics
Operations
Outbound logistics
Marketing and sales
Customer service
CORRECT VERIFIED ANSWERS 2025/ GRADED A+
Moore's Law - ANSWER the number of transistors per square inch on an integrated chip doubles
every 18 months.
Reich nonroutine cognitive skills (4) - ANSWER Abstract reasoning
Systems thinking
Collaboration
Ability to experiment
Abstract reasoning - ANSWER The ability to make and manipulate models
Systems thinking - ANSWER The mental process of making one or more models of components
of a system and connecting the inputs and outputs among those components into a sensible
whole, one that explains the phenomenon observed
Collaboration - ANSWER Most important skill for effective collaboration is to give and receive
critical feedback
Ability to experiment/experimentation - ANSWER careful and reasoned analysis of an
opportunity, envisioning potential products or solutions or applications of technology, an then
developing those ideas that seem to have the most promis, consistent with the resources you
have
Management information systems (MIS) - ANSWER An information system that helps businesses
achieve their goals and objectives
Key elements of MIS - ANSWER Processes, information systems, and information
,Management and use
Achieve strategies
Process/business process - ANSWER A sequence of activities for accomplishing a function
Information system - ANSWER A group of components that interact to produce information
Information - ANSWER Knowledge derived from data, where data is defined as recorded facts or
figures
Data presented in a meaningful context
Data processed by summing, ordering, averaging, grouping, comparing, or other similar
operations
A difference that makes a difference
Management (of MIS) - ANSWER The creation, monitoring, and adapting of processes,
information systems, and information
How does MIS relate to organizational strategy? - ANSWER MIS exist to help organizations
achieve their strategies
Five forces model - ANSWER Model, proposed by Michael Porter, that assesses industry
characteristics and profitability by means of five competitive forces--bargaining power of
suppliers, threat of substitution, bargaining power of customers, rivalry among firms, and threat
of new entrants
Porter's five forces - ANSWER Threat of substitutions
Threat of new entrants
Existing rivals
,Bargaining power of suppliers
Bargaining power of customers
Threat of substitutions/ substitute - ANSWER A competing product that performs the same or
similar function as an industry's product by another means.
What makes threat of substitution stronger - ANSWER Price is lower
Benefits are similar
Easy for buyer to switch products
Threat of new entrants - ANSWER Based on industry barriers to entry and the reaction new
entrants can expect from established companies in the industry
Barriers to entry - ANSWER High customer switching costs
Large financial investments to get started
Sales and distribution channels that are not accessible to new entrants
Government policies
What makes existing rivals stronger - ANSWER Rivals compete with each other using price
discounting, new products, and service improvements
Rivals are numerous
Industry growth is slow
Exit barriers are high
Bargaining power of suppliers/Bargaining power of customers is affected by - ANSWER Number
of available suppliers/customers
Switching costs
, Differentiation of the product
Relative size of the firm
Competitive strategy - ANSWER The strategy an organization chooses a the way it will succeed
in its industry. According to Porter, there are four fundamental competitive strategies: cost
leadership across an industry or within a particular industry segment and product
differentiation across an industry or within a particular segement
Four fundamental competitive strategy - ANSWER Cost leadership across an industry
Cost leadership within a particular industry segment
Product differentiation across an industry
Product differentiation across a particular industry segment
Value - ANSWER The amount of money that a customer is willing to pay for a resource, product,
or service
Value chain - ANSWER A network of value-creating activities
Margin - ANSWER The difference between the value that an activity generates and the cost of
the activity
Primary activities in a value chain - ANSWER The fundamental activities that create value
Inbound logistics
Operations
Outbound logistics
Marketing and sales
Customer service
