BUS 305 FINAL EXAM 2 QUESTIONS AND 100% VERIFIED
ANSWERS / GRADED A+ / GUARANTEED PASS!!
discuss the full impact of the internet on the five separate areas of the competitive
forces model.
- answers-substitute products or services - enable new substitutes to emerge with new
approaches to meeting needs and performing functions
customers bargaining power - shifts bargaining power to the customer due to the
availability of global price and product information
suppliers bargaining power - loses power to customers, but can benefit from reduced
barriers of entries and the elimination of distributors
threat of new entrants - reduces barriers to entry, ie need for sales force, access to
channels, and many physical assets. it provides a technology for driving business
processes that make other things easier to do
positioning and rivalry among existing users - widens the geographic market, increasing
the number of competitors and reducing differences among them. puts pressure to
compete on price
fully explain the meaning of "big data." what benefits does it have, and what challenges
does it pose?
- answers-big data refers to data sets with volumes so huge that they are beyond the
ability of typical DBMS to capture, store, and analyze. big data are produced more
rapidly and in larger quantities than regular data
benefits: contain more patterns and anomalies in relation to customers
challenges: it requires new technology to be put in place, and tools that manage and
analyze non-traditional data, big data use can be expensive, sometimes the answers do
not come back clear
identify and fully define the six ethical principles discussed in your text.
- answers-the golden rule - do unto others as you would have them do unto you
immanuel kant's categorical imperative - if an action is not right for everyone to take it is
not right for anyone to take
descartes' rule of change - if an action cannot be repeatedly taken, it is not the right
action to take at all.
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, utilitarian principle - take the action that achieves the higher or greater value
risk aversion principle - take the action that produces the least harm or the least
potential cost
no free lunch rule - all tangible and intangible objects are owned by someone unless
specified otherwise. nothing is free
identify and fully describe the five major categories of IT infrastructure.
- answers-computer hardware - technology for computer processing, data storage,
input, and output. examples include: servers, computer, and mobile devices
computer software - manages the resources and activities of the computer. can be set
to work toward a specific task
data management technology - organizes, manages, and processes business data
concerned with inventory, customers, and vendors
networking and telecommunications - provides data, voice, and video connectivity to
employees, customers, and suppliers
technology services - external businesses that help in all aspects of technology and
infrastructure especially integrating old systems with new technology and new systems
identify and fully describe the four steps taken in solving a business problem.
- answers-problem identification - understand what kind of problem exists. before
problems are solved, there must be agreement that a problem exists, about what the
problem is, about what its causes are, and about what can be done about the problem
given the limited resources
solution design - there are usually a great deal of solutions to any one problem. as
many different options should be considered as possible. this will increase the chance
of being able to effectively solve all aspects of a problem especially large scale
solution evaluation and choice - choosing the best solution for one's business. things to
consider include: cost, feasibility, and time. also it is crucial to monitor the support of
workers and managers behind the selected solution.
implementation - involves building the solution and introducing it into the business.
purchasing and building of new software is necessary here. change management is
also an important step at this point. this includes restraining employees on how the
business now runs including becoming familiar with new software systems or even
hiring or firing employees depending on the needs and goals of the company.
Found this useful? Help other students by leaving a quick review on Stuvia! It really helps ❤️
ANSWERS / GRADED A+ / GUARANTEED PASS!!
discuss the full impact of the internet on the five separate areas of the competitive
forces model.
- answers-substitute products or services - enable new substitutes to emerge with new
approaches to meeting needs and performing functions
customers bargaining power - shifts bargaining power to the customer due to the
availability of global price and product information
suppliers bargaining power - loses power to customers, but can benefit from reduced
barriers of entries and the elimination of distributors
threat of new entrants - reduces barriers to entry, ie need for sales force, access to
channels, and many physical assets. it provides a technology for driving business
processes that make other things easier to do
positioning and rivalry among existing users - widens the geographic market, increasing
the number of competitors and reducing differences among them. puts pressure to
compete on price
fully explain the meaning of "big data." what benefits does it have, and what challenges
does it pose?
- answers-big data refers to data sets with volumes so huge that they are beyond the
ability of typical DBMS to capture, store, and analyze. big data are produced more
rapidly and in larger quantities than regular data
benefits: contain more patterns and anomalies in relation to customers
challenges: it requires new technology to be put in place, and tools that manage and
analyze non-traditional data, big data use can be expensive, sometimes the answers do
not come back clear
identify and fully define the six ethical principles discussed in your text.
- answers-the golden rule - do unto others as you would have them do unto you
immanuel kant's categorical imperative - if an action is not right for everyone to take it is
not right for anyone to take
descartes' rule of change - if an action cannot be repeatedly taken, it is not the right
action to take at all.
Found this useful? Help other students by leaving a quick review on Stuvia! It really helps ❤️
, utilitarian principle - take the action that achieves the higher or greater value
risk aversion principle - take the action that produces the least harm or the least
potential cost
no free lunch rule - all tangible and intangible objects are owned by someone unless
specified otherwise. nothing is free
identify and fully describe the five major categories of IT infrastructure.
- answers-computer hardware - technology for computer processing, data storage,
input, and output. examples include: servers, computer, and mobile devices
computer software - manages the resources and activities of the computer. can be set
to work toward a specific task
data management technology - organizes, manages, and processes business data
concerned with inventory, customers, and vendors
networking and telecommunications - provides data, voice, and video connectivity to
employees, customers, and suppliers
technology services - external businesses that help in all aspects of technology and
infrastructure especially integrating old systems with new technology and new systems
identify and fully describe the four steps taken in solving a business problem.
- answers-problem identification - understand what kind of problem exists. before
problems are solved, there must be agreement that a problem exists, about what the
problem is, about what its causes are, and about what can be done about the problem
given the limited resources
solution design - there are usually a great deal of solutions to any one problem. as
many different options should be considered as possible. this will increase the chance
of being able to effectively solve all aspects of a problem especially large scale
solution evaluation and choice - choosing the best solution for one's business. things to
consider include: cost, feasibility, and time. also it is crucial to monitor the support of
workers and managers behind the selected solution.
implementation - involves building the solution and introducing it into the business.
purchasing and building of new software is necessary here. change management is
also an important step at this point. this includes restraining employees on how the
business now runs including becoming familiar with new software systems or even
hiring or firing employees depending on the needs and goals of the company.
Found this useful? Help other students by leaving a quick review on Stuvia! It really helps ❤️
