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MIS 301 Exam 1 AND PRACTICE EXAM NEWEST 2026-2027
ACTUAL EXAM COMPLETE QUESTIONS AND CORRECT
DETAILED ANSWERS (VERIFIED ANSWERS) |ALREADY
GRADED A+
Sustainable competitive advantage - ANSWERS--The ability to
consistantly outperform industry averages/peers
4 critical characteristics to maintain a sustainable advantage -
ANSWERS--1)Valuable
2)Rare
3)Imperfeclty imitable(tough to imitate)
4)Nonsubstitutable
These also help create Barriers to Entry
Micheal E. Porters book "Competitive Advantage" - Porter's 5 Forces -
ANSWERS--1- Barbaining power of customers
2- Threat of Substitues
3- Bargaining power of suppliers
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4- Threat of new entrants
5- Rivarly
Barriers to entry - ANSWERS--Make it difficult for other firms to enter
an industry and compete - makes. profits more sustainable
examples of barriers to entry - ANSWERS--- Brand
- Regulation
- Distribution Channels
- Captial Intensity
- Switching Costs
- Network Effects
switching costs - ANSWERS--A cost that a consumer incurs when
switching from one product to another
Network effects - ANSWERS--exist if the value of a network increases
with the number of users (Facebook)
Porter's Value Chain Model (business structure) - ANSWERS--(Support
Functions) infrastructure: GM, planning, finance, IS
HRM: recruiting, hiring, training and development
Technology: research and development
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(Primary Functions)
1) Inbound Logistics
2) Operations
3) Outbound Logistics
4). Marketing and Sales
5) Service
Operational Effectiveness - ANSWERS--performing the same tasks
better than rivals perform them
strategic positioning - ANSWERS--performing different activities from
those of rivals, or the same activities in a different way
5 models for analyzing business(The Value Chain) - ANSWERS--
1)Examine Industry Structure- Porter's 5 Forces Model
2)Choose our competitive Strategy- Porter's Model of Competitive
Advantage
3)Link the parts of the value chain- Porter's Value chain model
4)streamline business processes- any business process diagram
5)Design IS - 5 Component IS Framework
- Enable business processes
- improve value chain links to increase efficiency
- support competitive strategy
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MIS 301 Exam 1 AND PRACTICE EXAM NEWEST 2026-2027
ACTUAL EXAM COMPLETE QUESTIONS AND CORRECT
DETAILED ANSWERS (VERIFIED ANSWERS) |ALREADY
GRADED A+
Sustainable competitive advantage - ANSWERS--The ability to
consistantly outperform industry averages/peers
4 critical characteristics to maintain a sustainable advantage -
ANSWERS--1)Valuable
2)Rare
3)Imperfeclty imitable(tough to imitate)
4)Nonsubstitutable
These also help create Barriers to Entry
Micheal E. Porters book "Competitive Advantage" - Porter's 5 Forces -
ANSWERS--1- Barbaining power of customers
2- Threat of Substitues
3- Bargaining power of suppliers
1|Page
,2|Page
4- Threat of new entrants
5- Rivarly
Barriers to entry - ANSWERS--Make it difficult for other firms to enter
an industry and compete - makes. profits more sustainable
examples of barriers to entry - ANSWERS--- Brand
- Regulation
- Distribution Channels
- Captial Intensity
- Switching Costs
- Network Effects
switching costs - ANSWERS--A cost that a consumer incurs when
switching from one product to another
Network effects - ANSWERS--exist if the value of a network increases
with the number of users (Facebook)
Porter's Value Chain Model (business structure) - ANSWERS--(Support
Functions) infrastructure: GM, planning, finance, IS
HRM: recruiting, hiring, training and development
Technology: research and development
2|Page
, 3|Page
(Primary Functions)
1) Inbound Logistics
2) Operations
3) Outbound Logistics
4). Marketing and Sales
5) Service
Operational Effectiveness - ANSWERS--performing the same tasks
better than rivals perform them
strategic positioning - ANSWERS--performing different activities from
those of rivals, or the same activities in a different way
5 models for analyzing business(The Value Chain) - ANSWERS--
1)Examine Industry Structure- Porter's 5 Forces Model
2)Choose our competitive Strategy- Porter's Model of Competitive
Advantage
3)Link the parts of the value chain- Porter's Value chain model
4)streamline business processes- any business process diagram
5)Design IS - 5 Component IS Framework
- Enable business processes
- improve value chain links to increase efficiency
- support competitive strategy
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