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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...

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  • October 16, 2024
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  • 2024/2025
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©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.

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