Reading...
Play button
Play button
Use LEFT and RIGHT arrow keys to navigate between flashcards;
Use UP and DOWN arrow keys to flip the card;
H to show hint;
A reads text to speech;
31 Cards in this Set
- Front
- Back
- 3rd side (hint)
|
Occurs when an organization can significantly impact its market share by being first to market with a competitive advantage |
First-mover advantage
|
Refer to the week 1 slides in "Links to Study Material" in the Course Resources
|
|
|
Developing products, services, or capabilities that are simply necessary to do business in an industry
|
Competitive Necessity
|
Refer to the week 1 slides in "Links to Study Material" in the Course Resources
|
|
|
The process of gathering information about the competitive environment to improve the company’s ability to succeed
|
Competitive intelligence
|
Refer to the week 1 slides in "Links to Study Material" in the Course Resources |
|
|
An organization's process of defining direction, and making decisions on allocating resources
|
Strategic Planning
|
Read section 1.4, Strategic Planning and Competitive Models and the week 1 slides in "Links to Study Material" in the Course Resources
|
|
|
Used to evaluate the Strengths, Weaknesses, Opportunities, and Threats
|
SWOT Analysis
|
Read section 1.4, Strategic Planning and Competitive Models, concentrate on the "What is Strategic (SWOT) Analysis?" section and the week 1 slides in "Links to Study Material" in the Course Resources
|
|
|
Porter's Generic Strategies
|
Broad cost leadership, Broad differentiation, Focused strategy
|
Refer to table 1.3, "Strategies for Competitive Advantage" and the week 1 slides in "Links to Study Material" in the Course Resources
|
|
|
High when competition is fierce in a market and low when competitors are more complacent
|
Rivalry among existing competitors
|
Read section 1.3, IT Agility, Consumerization, and Competitive Advantage, concentrate on the "Porter’s Competitive Forces Model and Strategies" section
|
|
|
The ability of buyers to affect the price of an item
|
Buyer Power
|
Read section 1.3, IT Agility, Consumerization, and Competitive Advantage, concentrate on the "Porter’s Competitive Forces Model and Strategies" section
|
|
|
High when buyers have few choices of whom to buy from and low when their choices are many
|
Supplier Power
|
Read section 1.3, IT Agility, Consumerization, and Competitive Advantage, concentrate on the "Porter’s Competitive Forces Model and Strategies" section
|
|
|
High when it is easy for new competitors to enter a market and low when there are significant entry
|
Threat of New Entrants
|
Read section 1.3, IT Agility, Consumerization, and Competitive Advantage, concentrate on the "Porter’s Competitive Forces Model and Strategies" section
|
|
|
High when there are many alternatives to a product or service and low when there are few alternatives
|
Threat of Substitution
|
Read section 1.3, IT Agility, Consumerization, and Competitive Advantage, concentrate on the "Porter’s Competitive Forces Model and Strategies" section
|
|
|
What is a primary reason business ask you to like, follow, fan, share, sign up, watch, join, or download things on the Internet?
|
To get access to consumers and data about them in order to improve performance
|
Read section 1.1, IT and Management Opportunities and Challenges
|
|
|
These are examples of "messy data"
|
tweets, posts, click streams, images (including medical images)
|
Read section 1.1, IT and Management Opportunities and Challenges, concentrate on the "Messy Data" section
|
|
|
Research and consulting firms agree is one of the biggest opportunities and challenges facing managers as a way to gain insights and a competitive edge.
|
Using data analytics
|
Read section 1.1, IT and Management Opportunities and Challenges, concentrate on the "Big Data Analytics—The Next Frontier of Opportunities" section |
|
|
Productivity is a measure of efficiency, represented by ______
|
|
Read section 1.2, Top Management Concerns and Influential ITs, concentrate on the "Top 5 Management Concerns" section |
|
|
IT department’s understanding of strategy, risks, and opportunities; and the business’ understanding of IT’s potential and limitations is referred to as?
|
IT and Business Alignment
|
Read section 1.2, Top Management Concerns and Influential ITs, concentrate on the "IT and Business Alignment." section
|
|
|
Customer order processing, credit approval, opening a new account, order fulfillment, processing an insurance claim, and shipping a product are examples of?
|
Business processes
|
Business process reengineering (BPR) |
|
|
Eliminating unnecessary non–value added processes, then to simplify and automate the remaining processes to significantly reduce cycle time, labor, and costs.
|
Business process reengineering (BPR)
|
Read section 1.2, Top Management Concerns and Influential ITs, concentrate on the "Business Process Reengineering" section |
|
|
Benefit of cloud computing
|
Efficiency, Agility, Innovation
|
Refer to figure 1.8, Three Categories of Cloud Benefits
|
|
|
These are Characteristics of High Quality Information
|
Relevant, Timely, Reliable, Accurate, Easy to Understand and Use
|
Refer to table 1.2
|
|
|
Collaboration and workflow tools help people work together in an organized way and manage their tasks more effectively regardless of _____
|
Their location
|
Read section 1.3, IT at Work, concentrate on the "Collaboration and Workflow Tools" section
|
|
|
Company generates revenue using this method
|
Business Model
|
Read section 1.3, IT at Work
|
|
|
Developing products, services, or capabilities that give a company a superior business position relative to its competitors
|
Competitive Advantage
|
Read section 1.3, IT Agility, Consumerization, and Competitive Advantage, concentrate on the "Competitive Advantage" section and the week 1 slides in "Links to Study Material" in the Course Resources |
|
|
Using a combination of mobile and database technology, Papa Romano’s Pizza House keeps records of the pizza preferences of all its customers. Tommy likes ordering from Papa Romano’s because when he calls, he just says "send me the usual" and hangs up. They already know where he lives, what kind of pizza he wants and what credit card to bill. The big increase in ordering and fulfillment efficiency represents a _______
|
Competitive Advantage
|
Read section 1.3, IT Agility, Consumerization, and Competitive Advantage – The term competitive advantage may also be referred to as competitive edge in the text. |
|
|
Because of the shift to cloud computing, there is growing demand for professionals and managers who are more focused on _______ than they are on application development?
|
Business development
|
Read section 1.6, Cloud Computing Is Changing the Nature of Jobs |
|
|
What can managers expect from making IT investments on the basis of an immediate need that is isolated from business strategy?
|
Suboptimal outcomes
|
Read Chapter 12, Quick Look at Chapter 12 |
|
|
By aligning IT strategic planning with the business strategy, companies can expect to ____
|
Build differentiating capabilities
|
Read chapter 12, Quick Look at Chapter 12 |
|
|
Anytime/anywhere connectivity to clients, customers, and employees refers to ______
|
Mobility
|
Read section 12.1, Customer-Centric Business and IT Strategies
|
|
|
One of the reasons IT project are discontinued or abandoned
|
The project was under-budget
|
Read section 12.1, IT and Business Strategy Disconnects |
|
|
IT governance covers these areas
|
Delivers Values, Resource Management, Risk Management, Strategy Support, IT Performance Management
|
Read section 12.2, What IT Governance Covers
|
|
|
Why is it important to develop a long-term IT strategy and reexamine it on a regular basis?
|
Organizational goals change over time |
Read section 12.1, IT Strategic Planning Process
|
