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MIS 301 Exam Question and answers 100% correct 2024

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MIS 301 Exam Question and answers 100% correct 2024 In the context of network effects, the term "network" refers to: - correct answer A common user base, utilized to communicated and shared with one another The three sources of value for network effects include __________, staying power, an...

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  • August 27, 2024
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  • 2024/2025
  • Exam (elaborations)
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  • mis 301 exam
  • mis 301 exam question and answers 100 correct 202

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MIS 301 Exam
In the context of network effects, the term "network" refers to: - correct
answer ✔A common user base, utilized to communicated and shared with
one another


The three sources of value for network effects include __________, staying
power, and complementary benefits. - correct answer ✔Exchange


Decisions in a process map (diagram) are represented using a ________. -
correct answer ✔Diamond or rhombus


Why is Apple Pay an example of a two-sided network? - correct answer
✔Buyers attract sellers and vice versa


One way firms seek to strengthen their platforms and encourage third parties
to develop complementary goods is by: - correct answer ✔Offering APIs


Major part of Facebook's revenue comes from? - correct answer
✔Advertising


What is "Software"? - correct answer ✔The set of instructions that tells
hardware what to do


If electronics now travel half the distance to make a calculation, that means
the chip is - correct answer ✔Twice as fast


The _____ is considered the brain of a computing device - correct answer
✔Central processing unit (CPU)

,The resource-based view of competitive advantage states that for a firm to
maintain sustainable competitive advantage it must control a set of exploitable
resources that have four critical characteristics. What are these
characteristics? - correct answer ✔Rareness, value, imperfect imitability,
non-substitutability


Netflix Leveraged crowdsourcing by offering one million dollars to the first
team to: - correct answer ✔Improve accuracy of its movie recommendation
by 10 percent


An organization's _____ department ensures that systems get built and keep
running. It also takes on strategic roles targeted at proposing solutions for how
technology can give the firm a competitive edge. - correct answer
✔Information systems


We're in a golden age of tech entrepreneurship where ________________
means a startup can rent the computing resources one previously had to buy
at great expense. - correct answer ✔"The cloud" or cloud computing


Technology experts in the area of _____ work to make sure systems are
intuitive and easy to use. - correct answer ✔User interface design


The phrase __________ refers to the number of times inventory is sold or
used during the course of a year. - correct answer ✔Inventory turns


______ is financial performance that consistently outperforms the industry
average - correct answer ✔Sustainable competitive advantage


The _____ problem exists when savvy rivals watch a pioneer's efforts, learn
from their successes and missteps, and then enter the market quickly with a

,comparable or superior product at a lower cost. - correct answer ✔First-
mover


Facebook leads social media innovation and rarely imitates products from
competitors. True or False? - correct answer ✔False


_____ are costs that customers incur when moving from one product to
another - correct answer ✔Switching costs


The phenomenon of _________________________ exists when the value of
a product or service increases along with a growing number of users. - correct
answer ✔Network effects


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


Which of the following observations is true? - correct answer ✔Internet
businesses have relatively low barriers to entry


Which of the following is one of Porter's five forces? - correct answer
✔Bargaining power of the buyers


A decision situation where one party has more or better information than its
counterparty is known as _____. - correct answer ✔Information asymmetry


For providers of commodity products, how does the Internet typically impact
price transparency and information asymmetry? - correct answer ✔Price
transparency increases as information asymmetry decrease

, Which of the following factors can weaken buyer bargaining power - correct
answer ✔High switching costs


FreshDirect can leverage data by - correct answer ✔All


The main idea of service-dominant logic: - correct answer ✔Major revenue
comes from service


In retail, and the fashion industry, in particular, there is a saying: inventory = -
correct answer ✔Inventory=death?


Contract manufacturing is the process by which - correct answer
✔Production is outsourced to third-party firms


Coordinating and enabling the flow of goods, people, information, and other
resources among locations is known as _____. - correct answer ✔Logistics


Which of the following refers to an integrated solution that combines the five
components of hardware, software, data, procedures, and people? - correct
answer ✔Information system


What are the two information systems Zara uses to gather data in-store, and
what is the purpose of the data gathered by each. - correct answer ✔PDAs
gather information on customer preferences, POS gathers information on
sales


Transaction processing systems that capture customer purchases are known
as - correct answer ✔Point-of-sale systems

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