ISM3004 Exam 1 (Scavenger
Hunt 1-3) with complete
solution: 2023
, ISM3004 Exam 1 (Scavenger Hunt 1-3)
ALL ANSWERS 100% CORRECT SPRING
FALL-2023/24 EDITION GUARANTEED
GRADE A+
What is disruption?
"To cause something to be unable to continue in its normal routine" this can be either a
treasure or a tumult
Technology is a disruptor - what does that mean?
Tech creates both treasure and tumult. These disruptions will accelerate, impact
organizations, careers, and job functions throughout your lifetime.
Technology has caused normal routines to change completely
Advertising
print ads are practically out, Google alone has more ad revenue than all of print
Causing the trust of ads to decrease
Education
Online classes/Universities are taking away from the "traditional" schooling
Financial Services
Majority of banking can be done via apps
Credit Card Machine - "Square"
Journalism
Professional writers aren't being hired by news companies, because they hire external
bloggers
Wikileaks
Retail
Traditional stores taking a hit by online shopping companies
Share Economy
Alternative ways to hotels, music, rental cars, taxis
For video rentals, music industry, and higher education be able to explain...
What was the normal way of doing business?
Go to a brick and mortar store like Blockbuster, which included uncertainty, long lines,
and late fees
For video rentals, music industry, and higher education be able to explain...
What was the tech change?
, Netflix came with "same but different" change. It implemented highly efficient distribution
centers which shipped and received videos. Their entire catalogue and
recommendations were all on their website.
The way the content was delivered changed. Netflix recognized that CD's weren't the
future, so changed to streaming media across the internet
What was the treasure outcome for some and what was the tumult outcome for others?
Video Rentals
Treasure Outcome: Netflix
Tumult Outcome: Blockbuster
Netflix is one of the highest grossing streaming platforms and Blockbuster only has one
store left globally
What was the treasure outcome for some and what was the tumult outcome for others?
Music Industry
Treasure Outcome: Digital music platforms (iTunes, Spotify)
Tumult Outcome: Physical music
But in terms of whole album sales, physical music is the treasure and digital music is
the tumult because most people don't digitally buy an entire album, they usually only
buy a single song
What was the treasure outcome for some and what was the tumult outcome for others?
Higher Education
This is both a treasure and tumult for the universities that are willing to adapt to changes
in technology because it allows them to have more students no matter where the
students are; however, it also means that there may be a time where physical
universities are only available to people who are well off or won't exist at all.
Be able to define the term "share economy" and give an example.
Share Economy
Refers to a phenomenon whereby asset owners can use digital clearinghouses to rent
the unused capacity of assets they own and consumers rent from their peers rather than
buying or renting from a company
How does IT bring asset owners and consumers together in the share economy?
By using Digital Clearinghouses to rent from their peers instead of companies.
How is the share economy disruptive?
It disrupts the new normal between consumers and rental businesses.
Briefly explain four key factors causing these disruptions:
Moore's Law
Hunt 1-3) with complete
solution: 2023
, ISM3004 Exam 1 (Scavenger Hunt 1-3)
ALL ANSWERS 100% CORRECT SPRING
FALL-2023/24 EDITION GUARANTEED
GRADE A+
What is disruption?
"To cause something to be unable to continue in its normal routine" this can be either a
treasure or a tumult
Technology is a disruptor - what does that mean?
Tech creates both treasure and tumult. These disruptions will accelerate, impact
organizations, careers, and job functions throughout your lifetime.
Technology has caused normal routines to change completely
Advertising
print ads are practically out, Google alone has more ad revenue than all of print
Causing the trust of ads to decrease
Education
Online classes/Universities are taking away from the "traditional" schooling
Financial Services
Majority of banking can be done via apps
Credit Card Machine - "Square"
Journalism
Professional writers aren't being hired by news companies, because they hire external
bloggers
Wikileaks
Retail
Traditional stores taking a hit by online shopping companies
Share Economy
Alternative ways to hotels, music, rental cars, taxis
For video rentals, music industry, and higher education be able to explain...
What was the normal way of doing business?
Go to a brick and mortar store like Blockbuster, which included uncertainty, long lines,
and late fees
For video rentals, music industry, and higher education be able to explain...
What was the tech change?
, Netflix came with "same but different" change. It implemented highly efficient distribution
centers which shipped and received videos. Their entire catalogue and
recommendations were all on their website.
The way the content was delivered changed. Netflix recognized that CD's weren't the
future, so changed to streaming media across the internet
What was the treasure outcome for some and what was the tumult outcome for others?
Video Rentals
Treasure Outcome: Netflix
Tumult Outcome: Blockbuster
Netflix is one of the highest grossing streaming platforms and Blockbuster only has one
store left globally
What was the treasure outcome for some and what was the tumult outcome for others?
Music Industry
Treasure Outcome: Digital music platforms (iTunes, Spotify)
Tumult Outcome: Physical music
But in terms of whole album sales, physical music is the treasure and digital music is
the tumult because most people don't digitally buy an entire album, they usually only
buy a single song
What was the treasure outcome for some and what was the tumult outcome for others?
Higher Education
This is both a treasure and tumult for the universities that are willing to adapt to changes
in technology because it allows them to have more students no matter where the
students are; however, it also means that there may be a time where physical
universities are only available to people who are well off or won't exist at all.
Be able to define the term "share economy" and give an example.
Share Economy
Refers to a phenomenon whereby asset owners can use digital clearinghouses to rent
the unused capacity of assets they own and consumers rent from their peers rather than
buying or renting from a company
How does IT bring asset owners and consumers together in the share economy?
By using Digital Clearinghouses to rent from their peers instead of companies.
How is the share economy disruptive?
It disrupts the new normal between consumers and rental businesses.
Briefly explain four key factors causing these disruptions:
Moore's Law
