BMGT 301 Assessment 1 Solved 100% Correct
Sustainable Competitive Advantage - ANSWER-Financial performance that
consistently outperforms industry averages
Operational Effectiveness - ANSWER-Performing the same tasks better than rivals
perform them.
Fast Follower Exists when? - ANSWER-1. Savvy rivals watch a pioneer's efforts
2. Learn from their successes and missteps
3. Then enter the market quickly with a comparable or superior product at a lower
cost 4. Before the first mover can dominate.
Strategic Positioning - ANSWER-Performing different tasks than rivals or the same
tasks in a different way.
Straddling - ANSWER-When a firm attempts to match the benefits of a success
position while maintaining its existing position.
True sustainable advantage comes from assets and business models that are
simultaneously (Resource-based Theory): - ANSWER-Valuable
Rare
Difficult to imitate
For which there are no substitutes.
Powerful resources - ANSWER-1. Imitation-Resistant Value Chains: Others find hard
to replicate
2. Brand: Proxy for quality and inspires trust
3. Scale: Advantages related to size; economies of scale
4. Switching Costs and Data: Costs consumer incur by switching providers
5. Differentiation: Be different; move away from being commoditized
6. Network Effects: When the value of a product or service increases as its number
of users expands.
7. Distribution Channels: The path through which products or services get to
customers
8. Patents.
Technology can play a key role in creating and reinforcing assets for sustainable
advantage. This includes: - ANSWER-a. Enabling an imitation resistant value chain
b. Strengthening a firm's brand
c. Collecting useful data
d. Establishing switching costs
e. Creating a network effect
f. Creating or enhancing a firm's scale advantage
g. Enabling product or service differentiationh. Offering an opportunity to leverage
unique distribution channels.
, Transaction Processing Systems (TPS) - ANSWER-Information Inputs: Transactions;
daily events
Information Outputs: Detailed reports; lists; summaries
Users: Operations personnel; first-line supervisors
Management Information Systems (MIS) - ANSWER-Information Inputs: Summary
transaction data; high-volume data; simple models
Information Outputs: Summary and exception reports
Users: Middle managers
Decision Support Systems (DSS) - ANSWER-Information Inputs: Optimized for data
analysis, analytic models and data analysis tools.
Information Outputs: Interactive; simulations; analysis
Users: Professionals, staff managers
Executive Support Systems (ESS) - ANSWER-Information Inputs: Aggregate data;
external, internal
Information Outputs: Projections; responses to queries
Users: Senior managers
Define and describe the value chain model. - ANSWER----highlights specific
activities in the business where competitive strategies can best be applied and
where information systems will most likely have a strategic impact and identifies
specific, critical leverage points where a firm can use information technology most
effectively to enhance its competitive position..
---views the firm as a series of basic activities that add a margin of value to a firm's
products or services. The activities are categorized as either primary or support
activities.
---Primary activities are most directly related to production and distribution of the
firm's products and services, which create value for the customer.
---Support activities make the delivery of primary activities possible and consist of
organization infrastructure
---linked to the value chains of its suppliers, distributors, and customers.
Explain how the value chain model can be used to identify opportunities for
information systems. - ANSWER----can be used at each stage of the value chain to
improve operational efficiency, lower costs, improve profit margins, and forge a
closer relationship with customers and suppliers
---help examine how value-adding activities are performed at each stage of the
value chain.
---can improve the relationship with customers (customer relationship management
systems) and with suppliers (supply chain management systems) who may be
outside the value chain but belong to an extended value chain and can help
businesses track benchmarks in the organization and identify best practices of their
particular industries.
---After analyzing various stages in the value chain, an organization can devise a
list of candidate applications for information systems.
Sustainable Competitive Advantage - ANSWER-Financial performance that
consistently outperforms industry averages
Operational Effectiveness - ANSWER-Performing the same tasks better than rivals
perform them.
Fast Follower Exists when? - ANSWER-1. Savvy rivals watch a pioneer's efforts
2. Learn from their successes and missteps
3. Then enter the market quickly with a comparable or superior product at a lower
cost 4. Before the first mover can dominate.
Strategic Positioning - ANSWER-Performing different tasks than rivals or the same
tasks in a different way.
Straddling - ANSWER-When a firm attempts to match the benefits of a success
position while maintaining its existing position.
True sustainable advantage comes from assets and business models that are
simultaneously (Resource-based Theory): - ANSWER-Valuable
Rare
Difficult to imitate
For which there are no substitutes.
Powerful resources - ANSWER-1. Imitation-Resistant Value Chains: Others find hard
to replicate
2. Brand: Proxy for quality and inspires trust
3. Scale: Advantages related to size; economies of scale
4. Switching Costs and Data: Costs consumer incur by switching providers
5. Differentiation: Be different; move away from being commoditized
6. Network Effects: When the value of a product or service increases as its number
of users expands.
7. Distribution Channels: The path through which products or services get to
customers
8. Patents.
Technology can play a key role in creating and reinforcing assets for sustainable
advantage. This includes: - ANSWER-a. Enabling an imitation resistant value chain
b. Strengthening a firm's brand
c. Collecting useful data
d. Establishing switching costs
e. Creating a network effect
f. Creating or enhancing a firm's scale advantage
g. Enabling product or service differentiationh. Offering an opportunity to leverage
unique distribution channels.
, Transaction Processing Systems (TPS) - ANSWER-Information Inputs: Transactions;
daily events
Information Outputs: Detailed reports; lists; summaries
Users: Operations personnel; first-line supervisors
Management Information Systems (MIS) - ANSWER-Information Inputs: Summary
transaction data; high-volume data; simple models
Information Outputs: Summary and exception reports
Users: Middle managers
Decision Support Systems (DSS) - ANSWER-Information Inputs: Optimized for data
analysis, analytic models and data analysis tools.
Information Outputs: Interactive; simulations; analysis
Users: Professionals, staff managers
Executive Support Systems (ESS) - ANSWER-Information Inputs: Aggregate data;
external, internal
Information Outputs: Projections; responses to queries
Users: Senior managers
Define and describe the value chain model. - ANSWER----highlights specific
activities in the business where competitive strategies can best be applied and
where information systems will most likely have a strategic impact and identifies
specific, critical leverage points where a firm can use information technology most
effectively to enhance its competitive position..
---views the firm as a series of basic activities that add a margin of value to a firm's
products or services. The activities are categorized as either primary or support
activities.
---Primary activities are most directly related to production and distribution of the
firm's products and services, which create value for the customer.
---Support activities make the delivery of primary activities possible and consist of
organization infrastructure
---linked to the value chains of its suppliers, distributors, and customers.
Explain how the value chain model can be used to identify opportunities for
information systems. - ANSWER----can be used at each stage of the value chain to
improve operational efficiency, lower costs, improve profit margins, and forge a
closer relationship with customers and suppliers
---help examine how value-adding activities are performed at each stage of the
value chain.
---can improve the relationship with customers (customer relationship management
systems) and with suppliers (supply chain management systems) who may be
outside the value chain but belong to an extended value chain and can help
businesses track benchmarks in the organization and identify best practices of their
particular industries.
---After analyzing various stages in the value chain, an organization can devise a
list of candidate applications for information systems.
