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MIS 301 Exam 1 Question and answers rated A+ 2024 R251,87   Add to cart
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MIS 301 Exam 1 Question and answers rated A+ 2024
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MIS 301 Exam 1 Question and answers rated A+ 2024 Disruptive Technology - correct answer a new way of doing things that initially does not meet the needs of existing customers. These tend to open new markets and destroy old ones. Mental Models - correct answer clusters of propositions/knowle...

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  • August 27, 2024
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  • 2024/2025
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  • mis 301 exam 1 question and answers rated a 2024

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MIS 301 Exam 1
Disruptive Technology - correct answer ✔a new way of doing things that
initially does not meet the needs of existing customers. These tend to open
new markets and destroy old ones.


Mental Models - correct answer ✔clusters of propositions/knowledge
structures that guide our interaction with the world.
Evidence: create map and found same pattern longer distance took longer


barriers to entry - correct answer ✔anything that keeps new firms from
entering an industry in which firms are earning economic profits


Business Process - correct answer ✔a standardized set of activities that
accomplish a specific task, such as processing a customer's order


Capital intensity - correct answer ✔the amount of fixed or real capital present
in relation to other factors of production, especially labor.


channel conflict - correct answer ✔in e-commerce a conflict that may result
between a manufacturer that wants to sell products directly to consumers and
the retailers in the existing sales channels


commodity - correct answer ✔an item of trade or commerce, esp. as
distinguished from a service


distribution channels - correct answer ✔This refers to the movement of
products or services from the producer to the consumer.

, economies of scale - correct answer ✔as a company produces larger
numbers of a particular product, the cost of each of these products goes down


fast follower problem - correct answer ✔exists when savvy rivals watch a
pioneer's effort, learn from their successes and missteps and then enter the
market quickly with a comparable or superior product at a lower cost before
the first mover can dominate


information asymmetry - correct answer ✔the concept that the manager
generally has more information about the true financial position and results of
operations of the entity than the absentee owner does


porters 5 forces - correct answer ✔1. Threat of new entrants
2. the bargaining power of buyers
3.the bargaining power of suppliers
4. the threat of substitutre products and services
5. the intensity of rivalry among competitiors


porter's competitive advantage - correct answer ✔A competitive advantage
exists when the firm is able to deliver the same benefits as competitors but at
a lower cost (cost advantage), or deliver benefits that exceed those of
competing products (differentiation advantage). Thus, a competitive
advantage enables the firm to create superior value for its customers and
superior profits for itself.


search costs - correct answer ✔the financial and opportunity costs
consumers pay when searching for a good or service


straddling - correct answer ✔a company seeks to match the benefits of a
successful position while maintaining its existing position; add new features,

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