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55 Cards in this Set
- Front
- Back
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def computer literacy
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knowledge and ability to use computers and techonlogy efficiently
-can use pc, email, internet, work processing, worksheets |
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def information systems literacy
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knowledge of info systems an how they function; stresses how data and info are used by individuals, groups, and orgs
also, broad understading of info systems that includes behavioral knowledge about orgs, management and individuals using info systems as well as technical knowledge about computers |
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def information systems and list what they consist of
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consist of hardware, software, databases, telecommunications, people, and procedures
that an org needs to collect, manipulate, store, and process data into info |
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def data
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raw facts representing events
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def information
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set of organized facts that provide additional value beyond that of the facts themselves
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def knowledge
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an awerness and understanding of a ser of info and how info can be made useful to support a specific task or reach a decision
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def outsourcing
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work to to digitized, disaggregated, and shifted to antoher company (that may or may NOT be abroad)
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def offshoring
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sending a whole factory abroad
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def open-sourcing
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software developed through online collaboration and for free
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def insourcing
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hiring a company to come and take over part of the operation
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def supply chaining
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global supply chain to make-as-sell
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def informing
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online platforms to allow collaboration
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what are the benefits of proprietary technology?
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as long as protected, it can serve as long-term strategy, enable companies to reap higher profits than rivals (can be owned by a single company)
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what is infrastructural technology?
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technology that will be shared and will become part of the business infrastructure; offer far more value when shared than when used along (railroad or phone lines)
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def operational effectiveness
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performing the same tasks better than rivals (TiVo)
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def strategic positioning
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performing diff activities than rivals or the same activities in a diff way (FreshDirect)
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according to the resource based view, resources in a company should be these four things (V.R.II.NS.)
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valuable, rare, imperfectly imitable, non-substitutable
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what are five examples of powerful competititve resources? (B.S.SC.D. DC.)
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brand, scale (cost of investment scan be spread across increasing units of production or in serving a growing customer base), switching costs, differentiation, distribution channels
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def value chain
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set of interrelated activities through which products or services are created and delivered to market
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def Network effects; what is networks effect also commonly known as? ________'s Law
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a product or service will become more valuable as more people use it; Metcalfe's Law
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list Porter's five forces
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threat of new entrants, bargaining power of suppliers, bargaining power of consumers, threat of substitutes, rivalry
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what are the four major functions of business
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manufacturing and production, sales and marketing, finance and acct, HR
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def business process
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a logically related set of activities that define how specific business tasks are performed (replenishing inventory, IDing customer, financial reporting, hiring employees, fulfillin an order)
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def enterprise resource planning*
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combines departments and functional info systems into a single, integrated software progra, that runs off a single database so that the various departments can more easily share info and communicate with each other
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what are the hidden costs and challenges to implementing ERP
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TCO (hardware, software, professional services, staff training), business process redesign (to match blueprint and customize), and change management (getting people to use software to improve ways they do their jobs is by far hardes challenge);
OTHERS: training, customization, data conversion, consultants, integration and testing, waiting for ROI, post ERP depression |
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waht are the three different deployment strategies of ERP?
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Big bang, staged rollout or franchising, slam dunk
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def big bang (ERP deployment)
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to cast off all legacy systems at once and install a single ERP across entire company
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def staged rolout or franchising (ERP deployment)
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to begin with a demonstration or a pilot installation in a particular BU and then sell to other units
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Slam dunk (ERP deployment)
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to focus on a few key processes contained in specific modules such as SAP financial or HR
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what are the 5 factors that lead to success when implementing ERP?
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top management engagement, project leaders are veterans and team members are decision makers, third parties fill gaps in expertise, change management goes hand in had with project planning, a satisfying mindset prevails
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def supply chain management
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art and science to improve the way a company finds raw materials to make a product or service and deliver to its cusomters
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what are the three business processes involved in SCM?
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procurement, transforming materials into products, distributing finished goods to customers
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waht are the five basic components of SCM?
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plan, source, make, deliver, return
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what are two benefits to vendor managed inventory? (TAL)
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reduced inventory, shorter replenishmetn cylcles
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def made to measure (TAL)
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mass customization using same production resources to manufacture a variety of similar, yet unique products
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def customer relationship management
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strategy used to learn more about customers' needs and behaviours in order to develop stronger relationships with them
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increased customer satisfaction reduces ______ rate
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churn
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def churn
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measure of loss of customers during a period of time; expressed as %
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def customer profile
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details about customer; used to associate customer with customer segment
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def customer segment
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groups of customers that share common characteristics; usually used to ID selling opportunities most relevant to that segment
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def cross-selling or up selling
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selling additional products or services to customers, either as add-on or as an upgrade to a more expensive modle
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three words that describe web 2.0 (D, C, U-G)
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dynamic, collaborative, user-generated
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def RSS
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automatic notification of content updates
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def folksonomies
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user-creatd "tagging" classification systems
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def mashup
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combo of two or more technologies or data feeds into single, integrated tool
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def virtual worlds
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onine environment which users appear in form of avatar
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def rich media
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distribution of (and interaction with) audio, video, or pic flies via online mechanisms
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def wisdom of crowds
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under right circumstances, groups are remarkably intellignet, and are often smarter than the smartest people in them
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what are the four things that a crowd needs to have in order to have "wisom of crowds"
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diversity, independence, decentralization, way to aggregate results
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def crowdsourcing
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act of taking a job traditionally performed by a designated agent and outsourcing it to an undefined, generally large group of people in form of an open call (netflix $1 mill prize)
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what are the three "rules" associate with netlifx and the long - tail? what do companies need to do to make the long tail work?
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make everything available, cut the price in half and lower it (pull consumers down the tail with lower prices), help me find it (use recommendations to drive demand down the long-tail)
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ad rank = _______ x _______
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cost per click X quality score
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def indexability
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how open the deisng of hte website is to serach engine spiders
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def relevance
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target most appropriate keywords
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authoritativeness
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reward popularity and industry visibiliyt meaing that you need to have many links to your page
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