Mis 301 Study Guide

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isMIS 301: Exam 1 Study Guide
Chapter 1: “Setting the Stage: Technology, the Manager and the Modern Enterprise” Terms:

Disruptive technology
Mental models

Learning Objectives:
In the past decade, how has technology helped bring about radical changes across industries and throughout societies? What is the impact of a disruptive technology? What is its trajectory? Why do we care? To what degree has technology permeated every management discipline? Be able to give a few examples of how technology has changed areas such as finance, marketing, operations, accounting, etc. What kinds of jobs are available to someone with an IT background? Chapter 2: “Strategy and Technology: Concepts and Frameworks that Separate Winners from Losers” Terms:

Barrier to entry
Brand
Bundling
Business process
Capital intensity
Channel conflict
Commodity
Competitive advantage
Differentiation
Distribution channels
Economies of scale
Fast follower problem
Imitation-resistant value chain
Information asymmetry
Killer app
Network effects
Operational effectiveness
Porter’s Model of Industry Structure (5 Forces)
Porter’s Model of Competitive Advantage
Resource-based view of competitive advantage
Scale advantages
Search costs
Straddling
Strategic positioning
Sustainable competitive advantage
Switching costs
Value chain
Viral marketing

Learning Objectives:
How is operational effectiveness different than strategic positioning? To what degree can technology-based competition created operational effectiveness? What is the importance of grounding competitive advantage (CA) in strategic positioning? What are the four characteristics of a resource that might possibly yield sustainable CA? Why is technology critical to enabling competitive advantage? What are some examples of firms that have used technology to organize for sustained competitive advantage? What is the relationship between timing, technology and the creation of resources for CA? What are some examples of barriers to entry? Be able to recognize the difference between low barriers to entry and the prospects for sustainability of new entrant’s efforts? (Just because it might be easy to START a business doesn’t mean it is easy to STAY in business.) Relate this to Fresh Direct and straddling. What are the five forces that affect competitive advantage? Be able to apply the five forces framework to an industry, assessing the competitive landscape and the role of technology in influencing the relative power of buyers, suppliers, competitors and alternatives. Be able to diagram and compare how various firms organize to bring products and services to market. Be able to recognize components that provide operational effectiveness or strategic positioning. Chapter 3: “Zara: Fast Fashion from Savvy Systems”

Terms:

Bullwhip effect
Contract manufacturing
Information System (IS)
Just-in-time manufacturing
Logistics
Margin (gross margin)
Operations
Personal digital assistants
Point-of-sale (POS) systems
Radio frequency identification (RFID) tags
Return on Investment
Vertical integration

Learning Objectives:
How has Zara’s parent company Inditex leveraged a technology-enabled strategy to become the world’s largest fashion retailer? How does Zara’s approach differ from the conventional wisdom in fashion retail? How does the firm’s strategic use of information technology influence design and product offerings, manufacturing, inventory, logistics, marketing and, ultimately, profitability? How does Zara’s approach counteract specific factors that Gap has struggled with for over a decade? What are the advantages and disadvantages of vertical integration? What are the advantages and disadvantages of contract manufacturing? Why is inventory management so important? What happens when a retailer has too much inventory? What happens when a retailer has too little inventory? What are the five components that make up an information system? Which one is...
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