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MIS 301 EXAM Questions with complete solution 2024

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MIS 301 EXAM Questions with complete solution 2024 In the past decade, how has technology helped bring about radical changes across industries and throughout societies? - correct answer -the way firms advertise - the way individuals & organizations communicate -fueled globalization & data-driv...

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  • August 27, 2024
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  • 2024/2025
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  • mis 301 exam questions with complete solution 2024

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MIS 301 EXAM #1
In the past decade, how has technology helped bring about radical changes
across industries and throughout societies? - correct answer ✔-the way firms
advertise
- the way individuals & organizations communicate
-fueled globalization & data-driven decision making
- redefined concepts of software and computing
- raised privacy & security concerns
-crushed costs


What is the impact of a disruptive technology? What is its trajectory? Why do
we care? - correct answer ✔First, they come to market with a set of
performance attributes that existing customers don't value. Second, over time
the performance attributes improve to the point where they invade established
markets.
- found in many innovations that have brought about the shift from analog to
digital
- trajectory: fast/cheap technology advancement


mental model - correct answer ✔explanation of someones thought process/
how something works in the real world
- IS are defined by mental models of their designers (both business and
technical)


disruptive technology - correct answer ✔an innovation that helps create a
new market and value network, and eventually disrupts an existing market
and value network, displacing an earlier technology

,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. - correct answer ✔- Finance:
IPOs (Initial public stock offerings) use tech industry as fertile ground for new
firms. --> Need to understand role of tech to accurately guess how much a
company is worth.
- Accounting: The numbers used by accountants are all recorded, stored, and
reported by information systems, and the reliability of any audit is inherently
tied to the reliability of the underlying technology.
- Marketing: The ability to track customers, analyze campaign results, and
modify tactics has amped up the return on investment of marketing dollars,
with firms increasingly shifting spending from tough-to-track media such as
print, radio, and television to the Web. Also, word of mouth through social
media is big.


What kinds of jobs are available to someone with an IT background? - correct
answer ✔- those that require heavy programming skills to those that are
focused on design, process, project management, privacy, and strategy
- ex. programmers, user-interface design, process design, chief information
officer, chief technology officer, etc


sustainable competitive advantage - correct answer ✔financial performance
that consistently outperforms their industry peers


operational effectiveness - correct answer ✔refers to performing the same
tasks better than rivals perform them
--> sometimes hard bc easy to mimic technology


fast follower problem - correct answer ✔exists when savvy 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.

,strategic positioning - correct answer ✔refers to performing different
activities from those of rivals, or the same activities in a different way


How is operational effectiveness different than strategic positioning? - correct
answer ✔- operational effectiveness can be easily matched, and therefore is
not a sufficient way of yielding sustainable dominance over competition, but
strategic positioning is because it is creating advantages that competitors
struggle to match.


To what degree can technology-based competition create operational
effectiveness? - correct answer ✔technology can also play a critical role in
creating and strengthening strategic differences


What are the four characteristics of a resource that might possibly yield
sustainable CA? - correct answer ✔(1) valuable
(2) rare
(3) imperfectly imitable (tough to imitate)
(4) nonsubstitutable


straddling - correct answer ✔attempts to occupy more than one position
while failing to match the benefits of a more efficient, singular focused rival


resource-based view of competitive advantage - correct answer ✔strategic
thinking approach saying that if a firm is to maintain sustainable competitive
advantage, it must control a set of exploitable resources that have four critical
characteristics: valuable, rare, imperfectly imitable, nonsubstitutable.


Why is technology critical to enabling competitive advantage? What are some
examples of firms that have used technology to organize for sustained
competitive advantage? - correct answer ✔technology is almost always
mandatory in imitation-resistant value chain

, - ex. FreshDirect, Amazon, Zara


Imitation-resistant value chain - correct answer ✔a way of doing business
that others will struggle to replicate


value chain - correct answer ✔The set of interrelated activities that bring
products or services to market
-Primary components:
Inbound logistics—getting needed materials and other inputs into the firm
from suppliers
Operations—turning inputs into products or services
Outbound logistics—delivering products or services to consumers,
distribution centers, retailers, or other partners
Marketing and sales—customer engagement, pricing, promotion, and
transaction
Support—service, maintenance, and customer support


- Secondary components:
Firm infrastructure—functions that support the whole firm, including general
management, planning, IS, and finance
Human resource management—recruiting, hiring, training, and development
Technology / research and development—new product and process design
Procurement—sourcing and purchasing functions


brand - correct answer ✔the symbolic embodiment of all the information
connected with a product or service
- can be an exponentially powerful resource for competitive advantage

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