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MIS 301 Test 1 Question and answers rated A+ 2024

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MIS 301 Test 1 Question and answers rated A+ 2024 Chapter 2 - correct answer Porter's Five Forces - correct answer Also known as Industry and Competitive Analysis. A framework considering the interplay between (1) the intensity of rivalry among existing competitors, (2) the threat of new e...

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  • August 27, 2024
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MIS 301 Test 1
Chapter 2 - correct answer ✔


Porter's Five Forces - correct answer ✔Also known as Industry and
Competitive Analysis. A framework considering the interplay between (1) the
intensity of rivalry among existing competitors, (2) the threat of new entrants,
(3) the threat of substitute goods or services, (4) the bargaining power of
buyers, and (5) the bargaining power of suppliers.


Affiliates - correct answer ✔Third parties that promote a product or service,
typically in exchange for a cut of any sales.


Brand - correct answer ✔The symbolic embodiment of all the information
connected with a product or service.


Dense Wave Division Multiplexing (Dwdm) - correct answer ✔A technology
that increases the transmission capacity (and hence speed) of fiber-optic
cable. Transmissions using fiber are accomplished by transmitting light inside
"glass" cables. In DWDM, the light inside fiber is split into different
wavelengths in a way similar to how a prism splits light into different colors.


Distribution Channels - correct answer ✔The path through which products or
services get to customers.


Economies Of Scale - correct answer ✔When costs can be spread across
increasing units of production or in serving multiple customers. Businesses
that have favorable economies of scale (like many Internet firms) are
sometimes referred to as being highly scalable.

, 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 before
the first mover can dominate.


Imitation-Resistant Value Chain - correct answer ✔A way of doing business
that competitors struggle to replicate and that frequently involves technology
in a key enabling role.


Information Asymmetry - correct answer ✔A decision situation where one
party has more or better information than its counterparty.


Inventory Turns - correct answer ✔Sometimes referred to as inventory
turnover, stock turns, or stock turnover. It is the number of times inventory is
sold or used during a given period. A higher figure means that a firm is selling
products quickly.


Network Effects - correct answer ✔Also known as Metcalfe's Law, or network
externalities. When the value of a product or service increases as its number
of users expands.


Operational Effectiveness - correct answer ✔Performing the same tasks
better than rivals perform them.


Price Transparency - correct answer ✔The degree to which complete
information is available.


Private - correct answer ✔As in "to go private" or "take a firm private." Buying
up a publicly traded firm's shares. Usually done when a firm has suffered
financially and when a turn-around strategy will first yield losses that would
further erode share price. Firms (often called private equity, buyout, LBO, or

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