100% satisfaction guarantee Immediately available after payment Both online and in PDF No strings attached
logo-home
Previously searched by you
Previously searched by you
logo
COMM 226 Final Exam Questions With Verified Answers. CA$16.88
Add to cart
Quickly navigate to
Preview
  2.  
  3. COMM 226
  4.  
  5. COMM 226

Exam (elaborations)

COMM 226 Final Exam Questions With Verified Answers.
 0 purchase
  • Course
  • COMM 226
  • Institution
  • COMM 226

COMM 226 Final Exam Questions With Verified Answers. What is Moore's Law? How do we interpret it? - answer"The number of transistors per square inch on an integrated chip doubles every 18 months" The ratio of price to performance has fallen. The cost of data processing and communications is ze...

[Show more]

Preview 4 out of 31  pages

Document information

  • October 16, 2024
  • 31
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

Subjects

  • comm 226 final exam questions with verified answer

Written for

  • COMM 226
  • COMM 226

Seller

avatar-seller
sirjoel

Reviews received

Content preview

©SIRJOEL EXAM SOLUTIONS
10/7/2024 11:03AM



COMM 226 Final Exam Questions With
Verified Answers.


What is Moore's Law? How do we interpret it? - answer✔"The number of transistors per square
inch on an integrated chip doubles every 18 months"
The ratio of price to performance has fallen. The cost of data processing and communications is
zero. Computers are everywhere in business and are always needed.
What was once too expensive becomes a very real possibility.

What is the Information Age? - answer✔The production, distribution and control of information
are the primary drivers of the economy.
Two aspects:
-Global world is flat (a new IT opportunity in India can find capital and spread worldwide)
-Businesses must adapt quickly or be overtaken by those who do

How do I attain job security? - answer✔Develop non routine cognitive skills
Develop the four empoyability skills:
-Abstract reasoning
-Systems thinking
-Collaboration
-Ability to experiment

Abstract Reasoning: - answer✔The ability to make and manipulate models. Abstraction is a
simplification of an object/idea/ciceot that can then be manipulated with a logical or reasonable
thought process.

Systems Thinking - answer✔The ability to see the whole, not just the parts. It is the ability to
model the components of a system to connect the inputs and outputs into a sensible whole.

, ©SIRJOEL EXAM SOLUTIONS
10/7/2024 11:03AM


Processes are a part of systems. The output of one process is the input to another process.

Collaboration - answer✔Requires delivering and accepting constructive criticism in an efficient
manner
Developing ideas with others

Experimentation - answer✔Being able to apply rigorous reasoned analysis of ideas and develop
them into something that has promise and worth. More successful when done by someone who
has prior experience (what works and what doesnt)
Fear of failor: major stumbling block

Management Information Systems (MIS) - answer✔Creating, monitoring and adapting
processes, information systems and information to help organizations achieve their strategies.

Processes, Information Systems and Information - answer✔-Process is a way of doing something
-Information systems are a collection of components that stores and retrieves data
-Information is meaningful insight to help employees do their jobs

Create, monitor and adapt - answer✔The processes, information systems and information need to
be created, monitored and adapted.
ex: process of acquiring new customers, computers/programs/databases
sales reports need to be monitored
Rapid pace of tech seduces companies who may want to create new information systems to be
"modern"

Why is this unwise? - answer✔It is a waste of both time and money
Processes, information systems, and information need to be created for the purpose of achieving
the organization's strategy. A strategic goal or objective needs to be served

What is Porter's five forces model? - answer✔The five competitive forces determining industry
profitability are:
1. Threat of Substitution (e-commerce)
2. Threat of new entrants (regional chains growing)
3. Existing Rivals/Competition (target)
4. Bargaining power of suppliers (procter and gamble)

, ©SIRJOEL EXAM SOLUTIONS
10/7/2024 11:03AM


5. Bargaining power of customers (you and i)
Examples from Walmart

What are barriers to entry? Name two examples - answer✔Factors that make it difficult for a
new business to begin operating in an industry.
Ex: High customer switching costs, large financial investments, sale channels that are
inaccessible and government policies

Porter's four competitive strategies - answer✔1. cost-leadership: lowest cost across the industry
2. differentiation: better product/service across the industry
3. cost-focus: lowest cost within an industry segment
4. focused-differentiation: better product/service within an industry segment

What is the key for companies using porter's strategies? - answer✔The key is for companies to
commit to ONE of the four competitive strategies.
Not wise to try and do more than one at the same time as they often conflict with each other.
Result of doing both: accomplishing neither
A competitive strategy must be distinctive and maintainable. You also need to do it better than
your competitors.
All processes, information systems, and information must be constructed to facilitate the
organization's.

Value: - answer✔Amount of money that a customer is willing to pay for a resource, product, or
service.

Margin: - answer✔Difference between the value an activity generates and the cost of the activity

Value chain: - answer✔a network of value-creating activities

Five Primary activities in the Value Chain - answer✔1. inbound logistics- how the firm goes
about sourcing raw materials for production
2. operations/manufacturing- how the firm converts the raw materials into final products
3. outbound logistics- how the firm transports and distributes the final products to the
marketplace
4. marketing and sales- how the firm communicates the value proposition to the marketplace

, ©SIRJOEL EXAM SOLUTIONS
10/7/2024 11:03AM


5. customer service- how the firm supports customers during and after the sale
Each stage accumulates costs and adds value to the product: net result is the total margin of the
chain which is the difference between the total value added and the total costs.

Support Activities in the Value Chain - answer✔Contribute or facilitate the primary value chain
activities
-Procurement: the process of finding vendors, setting up contractual arrangements and
negotiating prices
-Technology: very broad: R and D, developing new methods
-Human Resources: recruiting, compensation, evaluation and training full and part time
employees
-Firm Infrastructure: general management, finance, accounting, legal and government affairs

Linkages - answer✔Interactions across value activities
ex: Manufacturing systems use linkages to reduce inventory costs.
Sales forecasts to plan production
Uses product plan to schedule purchases
End result is Just In time inventory, reducing inventory sizes and costs

Business Process Design - answer✔Organizations should create new, more efficient business
processes that integrate the activities of all departments involved in a value chain instead of
automating or improving existing functional systems.
Theory: Organizations analyze their industry and choose a competitive strategy. Given that
strategy, they examine their value chain and design business processes that span value-
generating activities. Those processes determine the scope and requirements of each
organization's information systems. - answer✔

How can IS influence strategy? - answer✔-Offering new opportunities to address the five forces
ex: Can reduce the threat of new competitors or change bargaining power by raising switching
costs for suppliers or customers
-IS influences strategy when it offers new opportunities for differentiation

Hardware: - answer✔consists of electronic components and related gadgetry that input, process,
output, and store data according to instructions encoded in computer programs or software.

The benefits of buying summaries with Stuvia:

Guaranteed quality through customer reviews

Guaranteed quality through customer reviews

Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.

Quick and easy check-out

Quick and easy check-out

You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.

Focus on what matters

Focus on what matters

Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!

Frequently asked questions

What do I get when I buy this document?

You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.

Satisfaction guarantee: how does it work?

Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.

Who am I buying these notes from?

Stuvia is a marketplace, so you are not buying this document from us, but from seller sirjoel. Stuvia facilitates payment to the seller.

Will I be stuck with a subscription?

No, you only buy these notes for CA$16.88. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews)

71241 documents were sold in the last 30 days

Founded in 2010, the go-to place to buy study notes for 15 years now

Start selling

Recently viewed by you

Exam (elaborations) ·

(0)

Exam (elaborations) NUR 2204C 2019 NCLEX RN Cram Sheet

Exam (elaborations) ·

(0)

TB-Chapter 12 The Term Newborn A GRADED AND REVIEWED

Exam (elaborations) ·

(0)

SURGERY EOR: PREOPERATIVE/POSTOPERATIVE CARE EXAM 2024

Other ·

(0)

Toetsverslag cursus Kwaliteit van leven: Zoeken naar kansen

Summary ·

(0)

The Checklist Manifesto by Atul Gawande BOOK SUMMARY

Exam (elaborations) ·

(0)

CYB 210 module 5| 52 Questions all 100% Solved Correct

Exam (elaborations) ·

(0)

NSC 101 Exam 1 With 100% Correct And Verified Answers

Package deal ·

(0)

BK1TE2 Samenvatting Bouwproducten, hoofdstuk 2 tot 7

Exam (elaborations) ·

(0)

NUR 223 - Undernutrition and malnutrition (A+ Guaranteed)

CA$16.88
  • (0)
Add to cart
Added