MIST 2090 CORE REVIEW EXAMINATION
QUESTIONS AND ANSWERS SURE A+
✔✔Habits of successful platforms - ✔✔-Early to the space
-Takes advantage of economics of complementary goods
-Opens up platform to a broad range of contributes
-Curate platform to deliver a consistent experience
✔✔platforms as engines for liquidity in markets - ✔✔a platform model can create a
multi-sided market--where sellers and buyers find each other to arrange sales
transactions. This helps because it makes the process of transacting much smoother.
Thus, the presence of a market makes it much easier to convert an asset (such as half
of a storage warehouse in Athens, GA) into cash.
✔✔incumbent organizations and the role of regulation - ✔✔- Nonplatform participants
will see their margins shrink and their positions become less and less secure
- In finance, as in urban transportation, regulation was at times the incumbents best
defense against digital upstarts
✔✔Definition of MIS - ✔✔·A management information system is an organized
integration of hardware and software technologies, data, processes, and human
elements designed to produce timely, integrated, relevant, accurate, and useful
information for decision-making purposes.
✔✔Changes in how a company sells to customers - ✔✔Changes in how a company
sells to customers depends on what type of information that company has. Business
intelligence and data mining help manage customer relationships
✔✔Analytics strategy at Target - ✔✔Target used analytics to track what people
searched on their websites and added to their cart to determine and predict what to
advertise to their customers
, ✔✔· How the three lenses are changing business, generally - ✔✔(1) New combinations
of minds and machines are changing the way businesses execute their most important
processes. (2) Pioneering companies are bringing together products and platforms to
transform their offerings (3) The core and the crowd are altering what organizations
themselves loom like, and how they work.
✔✔What happened last time? - ✔✔Many successful incumbent companies- in fact,
most of them- did not survive the transition from one power source to the other.
✔✔· Definition of a business model - ✔✔Describes the rationale of how an organization
creates, delivers, and captures value. Gives you a "shared language" about how to
innovate.
✔✔· Why we use the business model canvas - ✔✔To learn how to innovate in a rapidly
changing sociotechnical context, and to show the logic on how a company will make
money.
✔✔Properties of the nine blocks of the business model canvas - ✔✔Customer
segments, value proposition, channels, customer relationships, Revenue streams, Cost
structure, Key resources, key activities, and key partners
✔✔· Relationship between revenue and financing - ✔✔Only that raising through or
equity financing is NOT considered revenue, but is a way of raising operating cash for
the firm.
✔✔Debt Financing - ✔✔where you borrow money from a lender that you'll have to pay
back with interest.
✔✔Equity Financing - ✔✔where you trade partial ownership of some of your business to
investors in exchange for their capital.
✔✔· Basic information about venture capital industry - ✔✔These firms invest in a variety
of startups at various stages of development.
✔✔First Machine age - ✔✔late 1800'S to early 1900's
✔✔Second machine age - ✔✔1980
✔✔Phase 1 - ✔✔started late 1980's when we started to see automation of routine tasks
like processing payroll, welding car parts together, or sending invoices to customers
✔✔Phase 2 - ✔✔around 2010 when we started to see development in autonomous
cars, IBM, etc.
QUESTIONS AND ANSWERS SURE A+
✔✔Habits of successful platforms - ✔✔-Early to the space
-Takes advantage of economics of complementary goods
-Opens up platform to a broad range of contributes
-Curate platform to deliver a consistent experience
✔✔platforms as engines for liquidity in markets - ✔✔a platform model can create a
multi-sided market--where sellers and buyers find each other to arrange sales
transactions. This helps because it makes the process of transacting much smoother.
Thus, the presence of a market makes it much easier to convert an asset (such as half
of a storage warehouse in Athens, GA) into cash.
✔✔incumbent organizations and the role of regulation - ✔✔- Nonplatform participants
will see their margins shrink and their positions become less and less secure
- In finance, as in urban transportation, regulation was at times the incumbents best
defense against digital upstarts
✔✔Definition of MIS - ✔✔·A management information system is an organized
integration of hardware and software technologies, data, processes, and human
elements designed to produce timely, integrated, relevant, accurate, and useful
information for decision-making purposes.
✔✔Changes in how a company sells to customers - ✔✔Changes in how a company
sells to customers depends on what type of information that company has. Business
intelligence and data mining help manage customer relationships
✔✔Analytics strategy at Target - ✔✔Target used analytics to track what people
searched on their websites and added to their cart to determine and predict what to
advertise to their customers
, ✔✔· How the three lenses are changing business, generally - ✔✔(1) New combinations
of minds and machines are changing the way businesses execute their most important
processes. (2) Pioneering companies are bringing together products and platforms to
transform their offerings (3) The core and the crowd are altering what organizations
themselves loom like, and how they work.
✔✔What happened last time? - ✔✔Many successful incumbent companies- in fact,
most of them- did not survive the transition from one power source to the other.
✔✔· Definition of a business model - ✔✔Describes the rationale of how an organization
creates, delivers, and captures value. Gives you a "shared language" about how to
innovate.
✔✔· Why we use the business model canvas - ✔✔To learn how to innovate in a rapidly
changing sociotechnical context, and to show the logic on how a company will make
money.
✔✔Properties of the nine blocks of the business model canvas - ✔✔Customer
segments, value proposition, channels, customer relationships, Revenue streams, Cost
structure, Key resources, key activities, and key partners
✔✔· Relationship between revenue and financing - ✔✔Only that raising through or
equity financing is NOT considered revenue, but is a way of raising operating cash for
the firm.
✔✔Debt Financing - ✔✔where you borrow money from a lender that you'll have to pay
back with interest.
✔✔Equity Financing - ✔✔where you trade partial ownership of some of your business to
investors in exchange for their capital.
✔✔· Basic information about venture capital industry - ✔✔These firms invest in a variety
of startups at various stages of development.
✔✔First Machine age - ✔✔late 1800'S to early 1900's
✔✔Second machine age - ✔✔1980
✔✔Phase 1 - ✔✔started late 1980's when we started to see automation of routine tasks
like processing payroll, welding car parts together, or sending invoices to customers
✔✔Phase 2 - ✔✔around 2010 when we started to see development in autonomous
cars, IBM, etc.
