CIS 105 ASU WEEK 2 EXAM QUESTIONS
WITH CORRECT ANSWERS
A branded graphical presentation developed and used by the American research
advisory and information technology firm Gartner to represent the maturity, adoption,
and social application of specific technologies.______________ provides a graphical
and conceptual presentation of the maturity of emerging technologies through the 5
phases. - Answer- Hype cycle
A tool for analyzing competition of a business. It draws from industrial organization (IO)
economics to derive five forces that determine the competitive intensity and, therefore,
the attractiveness (or lack of it) of an industry in terms of its profitability. - Answer-
Porter's Five Force Analysis.
The degree to which a business or activity yields profit or financial gain. - Answer-
Profitability.
When customers do not know enough information about a product to bargain effectively
- Answer- Information asymmetry
What are ways to avoid anchoring bias - Answer- Document decision making process
using spreadsheets,
Benchmark based on data and available evidence,
Consider alternatives
True or False: the rise of open sourced software has lowered computing costs for start-
up and blue chip companies worldwide - Answer- True
Refers to performing the same tasks better than rivals perform them - Answer-
Operational effectiveness
Exists when savvy rivals watch a pioneer's efforts, learn from their successes and
missteps, then enter the market quickly with a comparable or superior product at a
lower cost - Answer- Fast follower problem
Refers to performing different activities from those rivals, or the same activities in a
different way - Answer- Strategic positioning
Ways to avoid the confirmation bias. - Answer- Try to take a contrary viewpoint.
Build models or spreadsheets that force us to benchmark other alternatives than the
one we are leaning toward.
, We interpret, favor, and recall information that helps corroborate our pre-existing beliefs
rather than contradict them. This effect gets even stronger for emotionally charged
issues. - Answer- Confirmation Bias.
Sustainable advantage comes from assets and business models that are __________ -
Answer- Rare and valuable
True or false: Technology can be difficult to copy, and technology always offers
sustainable competitive advantage. - Answer- False
True or false: Network effects exist when a product or service becomes less valuable as
more people use it. - Answer- False
What can a theoretical or conceptual framework do? - Answer- Guide decision making.
A set of activities that a company performs to produce value. - Answer- Value chain.
________ are products or services that are nearly identically offered from multiple
vendors. For such products and services, consumers are highly ________ since they
have so many similar choices. - Answer- Commodities
Price-focused
True or false: distribution channels is the path of through which products or services get
to customers. - Answer- True.
True or false: The value chain can be used to map a firms efficiency and to benchmark
it against rivals, reveals opportunities to use technology to improve processes and
procedures. - Answer- True.
The effect of the confirmation bias is stronger for... - Answer- Emotionally charged
issues and for deeply entrenched beliefs
Businesses benefit from__________when the cost of an investment can be spread
across increasing units of production or in serving a growing customer base - Answer-
Economies of scale
The process of comparing business processes and performance metrics to best
practices and top metrics from other companies - Answer- Benchmarking
Operational effectiveness is_________ but not _________ to yield sustainable
dominance over the competition - Answer- Necessary;
Sufficient
Primary components of the value chain - Answer- inbound logistics, operations,
outbound logistics, marketing and sales, and support
WITH CORRECT ANSWERS
A branded graphical presentation developed and used by the American research
advisory and information technology firm Gartner to represent the maturity, adoption,
and social application of specific technologies.______________ provides a graphical
and conceptual presentation of the maturity of emerging technologies through the 5
phases. - Answer- Hype cycle
A tool for analyzing competition of a business. It draws from industrial organization (IO)
economics to derive five forces that determine the competitive intensity and, therefore,
the attractiveness (or lack of it) of an industry in terms of its profitability. - Answer-
Porter's Five Force Analysis.
The degree to which a business or activity yields profit or financial gain. - Answer-
Profitability.
When customers do not know enough information about a product to bargain effectively
- Answer- Information asymmetry
What are ways to avoid anchoring bias - Answer- Document decision making process
using spreadsheets,
Benchmark based on data and available evidence,
Consider alternatives
True or False: the rise of open sourced software has lowered computing costs for start-
up and blue chip companies worldwide - Answer- True
Refers to performing the same tasks better than rivals perform them - Answer-
Operational effectiveness
Exists when savvy rivals watch a pioneer's efforts, learn from their successes and
missteps, then enter the market quickly with a comparable or superior product at a
lower cost - Answer- Fast follower problem
Refers to performing different activities from those rivals, or the same activities in a
different way - Answer- Strategic positioning
Ways to avoid the confirmation bias. - Answer- Try to take a contrary viewpoint.
Build models or spreadsheets that force us to benchmark other alternatives than the
one we are leaning toward.
, We interpret, favor, and recall information that helps corroborate our pre-existing beliefs
rather than contradict them. This effect gets even stronger for emotionally charged
issues. - Answer- Confirmation Bias.
Sustainable advantage comes from assets and business models that are __________ -
Answer- Rare and valuable
True or false: Technology can be difficult to copy, and technology always offers
sustainable competitive advantage. - Answer- False
True or false: Network effects exist when a product or service becomes less valuable as
more people use it. - Answer- False
What can a theoretical or conceptual framework do? - Answer- Guide decision making.
A set of activities that a company performs to produce value. - Answer- Value chain.
________ are products or services that are nearly identically offered from multiple
vendors. For such products and services, consumers are highly ________ since they
have so many similar choices. - Answer- Commodities
Price-focused
True or false: distribution channels is the path of through which products or services get
to customers. - Answer- True.
True or false: The value chain can be used to map a firms efficiency and to benchmark
it against rivals, reveals opportunities to use technology to improve processes and
procedures. - Answer- True.
The effect of the confirmation bias is stronger for... - Answer- Emotionally charged
issues and for deeply entrenched beliefs
Businesses benefit from__________when the cost of an investment can be spread
across increasing units of production or in serving a growing customer base - Answer-
Economies of scale
The process of comparing business processes and performance metrics to best
practices and top metrics from other companies - Answer- Benchmarking
Operational effectiveness is_________ but not _________ to yield sustainable
dominance over the competition - Answer- Necessary;
Sufficient
Primary components of the value chain - Answer- inbound logistics, operations,
outbound logistics, marketing and sales, and support
