MIS 301 Exam 1 Questions With Correct
Answers
Disruptive Technology - CORRECT ANSWER✔✔-a new way of doing
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things that initially does not meet the needs of existing customers.
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These tend to open new markets and destroy old ones.
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Mental Models - CORRECT ANSWER✔✔-clusters of
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propositions/knowledge structures that guide our interaction with the
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world.
Evidence: create map and found same pattern longer distance took
| | | | | | | | | |
longer
barriers to entry - CORRECT ANSWER✔✔-anything that keeps new firms
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from entering an industry in which firms are earning economic profits
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Business Process - CORRECT ANSWER✔✔-a standardized set of
| | | | | | | |
activities that accomplish a specific task, such as processing a
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customer's order |
, Capital intensity - CORRECT ANSWER✔✔-the amount of fixed or real
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capital present in relation to other factors of production, especially
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labor.
channel conflict - CORRECT ANSWER✔✔-in e-commerce a conflict that
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may result between a manufacturer that wants to sell products directly
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to consumers and the retailers in the existing sales channels
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commodity - CORRECT ANSWER✔✔-an item of trade or commerce, esp.
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as distinguished from a service
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distribution channels - CORRECT ANSWER✔✔-This refers to the
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movement of products or services from the producer to the consumer.
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economies of scale - CORRECT ANSWER✔✔-as a company produces
| | | | | | | | |
larger numbers of a particular product, the cost of each of these
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products goes down | |
fast follower problem - CORRECT ANSWER✔✔-exists when savvy rivals
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watch a pioneer's effort, learn from their successes and missteps and
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then enter the market quickly with a comparable or superior product at
| | | | | | | | | | | |
a lower cost before the first mover can dominate
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Answers
Disruptive Technology - CORRECT ANSWER✔✔-a new way of doing
| | | | | | | | |
things that initially does not meet the needs of existing customers.
| | | | | | | | | | |
These tend to open new markets and destroy old ones.
| | | | | | | | |
Mental Models - CORRECT ANSWER✔✔-clusters of
| | | | |
propositions/knowledge structures that guide our interaction with the
| | | | | | | | |
world.
Evidence: create map and found same pattern longer distance took
| | | | | | | | | |
longer
barriers to entry - CORRECT ANSWER✔✔-anything that keeps new firms
| | | | | | | | |
from entering an industry in which firms are earning economic profits
| | | | | | | | | | |
Business Process - CORRECT ANSWER✔✔-a standardized set of
| | | | | | | |
activities that accomplish a specific task, such as processing a
| | | | | | | | | |
customer's order |
, Capital intensity - CORRECT ANSWER✔✔-the amount of fixed or real
| | | | | | | | | |
capital present in relation to other factors of production, especially
| | | | | | | | | |
labor.
channel conflict - CORRECT ANSWER✔✔-in e-commerce a conflict that
| | | | | | | | |
may result between a manufacturer that wants to sell products directly
| | | | | | | | | | |
to consumers and the retailers in the existing sales channels
| | | | | | | | |
commodity - CORRECT ANSWER✔✔-an item of trade or commerce, esp.
| | | | | | | | |
as distinguished from a service
| | | | |
distribution channels - CORRECT ANSWER✔✔-This refers to the
| | | | | | | |
movement of products or services from the producer to the consumer.
| | | | | | | | | |
economies of scale - CORRECT ANSWER✔✔-as a company produces
| | | | | | | | |
larger numbers of a particular product, the cost of each of these
| | | | | | | | | | | |
products goes down | |
fast follower problem - CORRECT ANSWER✔✔-exists when savvy rivals
| | | | | | | | |
watch a pioneer's effort, learn from their successes and missteps and
| | | | | | | | | | |
then enter the market quickly with a comparable or superior product at
| | | | | | | | | | | |
a lower cost before the first mover can dominate
| | | | | | | |
