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MIS 301 Question and answers rated A+ 2024

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MIS 301 Question and answers rated A+ 2024 Internet of Things - correct answer A vision where low-cost sensors, processors, and communication are embedded into a wide array of products and our environment, allowing a vast network to collect data, analyze input, and automatically coordinate colle...

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  • August 27, 2024
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  • 2024/2025
  • Exam (elaborations)
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  • mis 301 question and answers rated a 2024

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MIS 301
Internet of Things - correct answer ✔A vision where low-cost sensors,
processors, and communication are embedded into a wide array of products
and our environment, allowing a vast network to collect data, analyze input,
and automatically coordinate collective action.


Initial Public Stock Offering (IPO) - correct answer ✔the first time a firm
makes shares available via a public stock exchange, also known as "going
public."


Sarbanes-Oxley Act - correct answer ✔US legislation enacted in the wake of
the accounting scandals of the early 2000s. The act raises executive and
board responsibility and ties criminal penalties to certain accounting and
financial violations. Although often criticized, ___ is also seen as raising
stakes for mismanagement and misdeeds related to a firm's accounting
practices.


Strategic Positioning - correct answer ✔Performing different tasks than
rivals, or the same tasks in a different way.


Straddling - correct answer ✔Attempts to occupy more than one position,
while failing to match the benefits of a more efficient, singularly focused rival.


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.


Commodity - correct answer ✔A basic good that can be interchanged with
nearly identical offerings by others--think milk, coal, orange juice, or to a

,lesser extent, Windows PCs and Android phones. The more ____________
an offering, the greater the likelihood that competition will be based on price.


Sustainable Competitive Advantage - correct answer ✔Financial
performance that consistently outperforms industry averages.


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.


Resource-Based View of Competitive Advantage - correct answer ✔The
strategic thinking approach suggesting that if a firm is to maintain sustainable
competitive advantage, it must control an exploitable resource, or set of
resources, that have four critical characteristics. These resources must be (1)
valuable, (2) rare, (3) imperfectly imitable, and (4) nonsubstitutable.


Augmented-Reality - correct answer ✔A technology that superimposes
content, such as images and animation, on top of real-world images.


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


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 _________, the light inside fiber is split into different
wavelengths in a way similar to how a prism splits light into different colors.


Scale Advantages - correct answer ✔advantages related to size

, Channel Conflict - correct answer ✔Exists when a firm's potential partners
see that firm as a threat. This threat could come because it offers competing
products or services via alternative channels or because the firm works
closely with especially threatening competitors.


Value Chain - correct answer ✔The set of activities through which a product
or service is created and delivered to customers.


Switching Costs - correct answer ✔The cost a consumer incurs when
moving from one product to another. It can involve actual money spent (e.g.,
buying a new product) as well as investments in time, any data loss, and so
forth.


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


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


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


Non-Practicing Entities - correct answer ✔Commonly known as patent trolls,
these firms make money by acquiring and asserting patents, rather than
bringing products and services to market.


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 turnaround strategy will first yield losses that would

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