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OIM 210 – Questions With Solutions (100% Correct)
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OIM 210 – Questions With Solutions (100% Correct)
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OIM 210 – Questions With Solutions (100% Correct)Technology Right Ans - changed how businesses operate across industries
and throughout societies
EX. Uber, Airbnb, YouTube, Facebook, Twitter, LinkedIn
Firms Right Ans - harnessing social media for new product ideas, for
millions in sales, and to vet and build trust
Service and ethics bar Right Ans - the ________ for today's manager has
never been higher
Fast/cheap computing Right Ans - also helping create the multibillion
dollar Internet of Things (IoT),
Examples of IoT in daily life Right Ans - lamps. watches, thermostats, and
door locks.
- Hotel examples
- My FitnessPal
Internet of Things Right Ans - a vision where low-cost sensors, processors,
and communication are embedded into wide array of products and our
environment
There are already more so-called IoT- connected devices than the entire world
population of humans, and that number day Right Ans - True
Cheap Processors and Software smarts Right Ans - also powering the drone
revolution with far-reaching impact
Incremental technology Right Ans - sustaining technology that relies on
incremental improvements to an already establish technology
Radical Right Ans - disruptive technology is one that displaces an
established technology and shakes up the industry or a ground breaking
product that creates a completely new industry
, Examples of radical technologies Right Ans - Smartphones largely replaced
cell phones and, because of the available apps, also disrupted: pocket cameras,
MP3 players, calculators and GPS devices, among many other possibilities. For
some mobile users, smartphones often replace laptops
Firms Right Ans - strive for sustainable competitive advantage
Sustainable competitive advantage Right Ans - financial performance that
consistently outperforms their industry peers
is it difficult to compete when everyone can copy technology and the
competition is just a click away? Right Ans - Yes
EX. Tivo
Rivals created reasonably good copies of TiVo technology
According to Michael Porter, the reason so many firms suffer aggressive,
margin eroding competition is because Right Ans - they've defined
themselves according to operational effectiveness rather than strategic
positioning
Operational effectiveness Right Ans - refers to performing the same tasks
better than rivals perform them.
TiVo lacked Right Ans - access to critical distribution channels (e.g. the
cable guys) which their rivals leveraged.
companies can compete with 1 of 2 approaches Right Ans - operational
effectiveness or strategic positioning
commodity Right Ans - When offerings are roughly the same, they are more
______ than differentiated
EX. UPS Vs FedEx
Fast follower problem Right Ans - exists when 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.
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