CMIS 526 ACTUAL TEST PAPER SOLVED
QUESTIONS FULL SOLUTION
●● Capabilities
Answer: Reflect the organizations ability to leverage their resources
●● Value Chain Analysis
Answer: used to identify opportunities where IS can be used to gain a
competitive advantage; Process of analyzing an organizations activities
to determine where value is added to products and/or services and what
costs are incurred for doing so
●● Business Model
Answer: a summary of a business's strategic direction that outlines how
the objectives will be achieved
●● Revenue Model
Answer: describes how the firm will earn revenue, generate profits, and
produce a superior return on investment
●● Freemium
,Answer: when an organization gives away limited versions of a product
or service for free to build a large customer base and then charges a
premium for unrestricted versions
●● Digital Platform
Answer: enables other business or users to co-create value
●● Sharing Economy
Answer: an economic system in which assets or services are shared
between private individuals, either free or for a fee, typically by means
of the Internet.
●● Serviced Based Business
Answer: Where manufacturers can offer equipment services as well as
the product
●● Lean Startup Methodology
Answer: Provides a framework to gain a competitive advantage from
continuous innovation the ability to flexibly experiment with different
solutions or business models quickly
●● Crowdfunding
Answer: the securing of business financing from individuals in the
marketplace- the crowd- to fund an initiative
, ●● Knowledge worker
Answer: Individual valued for their ability to interpret and analyze
information
●● Digital Divide
Answer: A worldwide gap giving advantage to those with access to
technology
●● Globalization
Answer: the integration of economies throughout the world, enabled by
innovation and technological progress
●● Operational Challenges of Globalizaiton
Answer: Politcal System differences, Regulatory environments, Laws
and standards
●● Geo-economic Challenges of Globailization
Answer: Differences in infrastructure, Demographics, Welfare, and
Workers Expertise
●● Connections
Answer: Possible to connect just about any element of the physical
world to the digital world
QUESTIONS FULL SOLUTION
●● Capabilities
Answer: Reflect the organizations ability to leverage their resources
●● Value Chain Analysis
Answer: used to identify opportunities where IS can be used to gain a
competitive advantage; Process of analyzing an organizations activities
to determine where value is added to products and/or services and what
costs are incurred for doing so
●● Business Model
Answer: a summary of a business's strategic direction that outlines how
the objectives will be achieved
●● Revenue Model
Answer: describes how the firm will earn revenue, generate profits, and
produce a superior return on investment
●● Freemium
,Answer: when an organization gives away limited versions of a product
or service for free to build a large customer base and then charges a
premium for unrestricted versions
●● Digital Platform
Answer: enables other business or users to co-create value
●● Sharing Economy
Answer: an economic system in which assets or services are shared
between private individuals, either free or for a fee, typically by means
of the Internet.
●● Serviced Based Business
Answer: Where manufacturers can offer equipment services as well as
the product
●● Lean Startup Methodology
Answer: Provides a framework to gain a competitive advantage from
continuous innovation the ability to flexibly experiment with different
solutions or business models quickly
●● Crowdfunding
Answer: the securing of business financing from individuals in the
marketplace- the crowd- to fund an initiative
, ●● Knowledge worker
Answer: Individual valued for their ability to interpret and analyze
information
●● Digital Divide
Answer: A worldwide gap giving advantage to those with access to
technology
●● Globalization
Answer: the integration of economies throughout the world, enabled by
innovation and technological progress
●● Operational Challenges of Globalizaiton
Answer: Politcal System differences, Regulatory environments, Laws
and standards
●● Geo-economic Challenges of Globailization
Answer: Differences in infrastructure, Demographics, Welfare, and
Workers Expertise
●● Connections
Answer: Possible to connect just about any element of the physical
world to the digital world
