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MIS 301 Serve University of Dayton Question and answers verified to pass 2024
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MIS 301 Serve University of Dayton Question and answers verified to pass 2024 Threat of entry - correct answer bring new capacity and want market share, which can shake up competition. Can limit profits in the industry. Economies of scale supply side forces entrants to produce large scale at ...

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  • August 27, 2024
  • 9
  • 2024/2025
  • Exam (elaborations)
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  • mis 301 serve university of dayton
  • mis 301 serve university of dayton question and an

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MIS 301 Serve University of Dayton
Threat of entry - correct answer ✔bring new capacity and want market share,
which can shake up competition. Can limit profits in the industry.
Economies of scale supply side forces entrants to produce large scale at
lower cost per unit.
Customer Switching Costs fixed costs when buyers change suppliers
Capital Requirements need to invest large amounts to compete
Incumbency advantages may have quality materials or cost advantages
others don't
Unequal access to distribution
Government Restrictions
Retaliation Incumbents may lower prices, fight back to regain market share


Power of suppliers - correct answer ✔Capture value through determining
prices, limiting quality or service, or shifting costs
Gain power through being more concentrated, offering differentiating
products, no substitutes for buyers


Power of buyers - correct answer ✔Can force prices down, demand better
quality or service
Have power if buys in large volume, can substitute easily, have low switching
costs, buy in bulk
Price Sensitivity less sensitive if focused on quality, more sensitive if product
does not affect buyer's cost.


Threats of substitutes - correct answer ✔Substitutes are always present, and
threat is high
Low switching costs to substitutes for buyers (brand to generic)

, Rivalry Among Existing Competitiors - correct answer ✔competitors are
often equal in size and power. Some will stay in industry and others will leave.
Cutting prices due to competition can drive you out of business in long run,
but can win new customers in the short run.
Capacity needs to be expanded in large increments to be efficient
*** Industry is always changing and can shift threats


RAM - correct answer ✔main memory on either CPU or chips on board
allowing instructions to be processed. (Volatile) RAM is lost when computer
turned off


ROM - correct answer ✔(Nonvolatile) memory is safe after power is off.


The Internet of Things - correct answer ✔everyday objects imbedded with
hardware capable of processing, sensing, and transmitting data. Can connect
to a network and share data.
Helps interconnect data to be more efficient in business.


Business process reengineering (BPR) - correct answer ✔needed in order
for an ERP to be implemented
BRP the activity of altering existing and designing new business process that
can be costly and slow.
Has to go the System Development Life Cycle


Enterprise resource planning (ERP) - correct answer ✔single, organizational
wide Info System, which incorporates silos together to share information
Starts with Enterprise Application Integration (EAI) connecting system

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