CMIS 526 Exam 1
the - ANS
E-business - ANSAn organization that uses information technologies or systems to support
nearly every part of its business
IoT (Internet of Things) - ANSA network that can automatically share data over the Internet
1) Mobile Devices
2) Social Media
3) Internet of Things
4) Cloud Computing
5) Big Data - ANSWhat are the five IT megatrends?
Data - ANSWhen processed, ______ transforms into information
Knowledge - ANSThis is the ability to understand information, form opinions, and make
decisions or predictions based on the information
Information Systems - ANSThis uses IT to collect, create, and distribute useful data
1) Hardware
2) Software
3) Telecommunications
4) Data/Information
5) People - ANSWhat are the five components of Information Systems?
They have a blend of technical, business, and system competency. - ANSWhat makes IS
personnel so valuable?
Operational level (day to day tasks) - ANSThis level of IS primarily focuses on process
automation
Porter's Competitive Five Forces - ANSWhen a company is trying to identify where to compete,
what should they be analyzing?
True - ANST/F: IS can help offset many competitive forces to help firms meet customer
demands when customers have a high degree of bargaining power.
1) Rivals within industry
2) New entrants
, 3) Customer's bargaining power
4) Suppliers' bargaining power
5) Threat of substitute products - ANSWhat are Porter's Five Forces?
Capabilities - ANSThis reflects the organization's ability to leverage their resources in the
marketplace.
Value Chain Analysis - ANSThe process of analyzing an organization's activities to determine
where value is added to products/services
Business Model - ANSThis is a summary of a business's strategic direction that outlines how the
objectives will be achieved.
Revenue Model - ANSThis describes how the firm will earn revenue, generate profits, and
produce a superior return on invested capital
True - ANST/F: The most important ingredient for any organization is determining how to
generate revenue.
Freemium - ANSThis is a marketing approach companies use to obtain customers by offering
something for free to build a large customer base and then charge a premium for unrestricted
versions with more functionality.
Sharing Economy - ANSAn economic system in which assets or services are shared between
private individuals, either free or for a fee, typically by means of the Internet
Innovation - ANSThis is key for organizations attempting to gain or sustain a competitive
advantage
Radical (or disruptive) innovations - ANSUsing a markedly new or different technology to access
new customer segments and significantly greater benefits
True - ANST/F: Open innovation can prove to be beneficial when you integrate external
stakeholders into the innovation process
1) Put tech ahead of strategy
2) Put tech ahead of marketing
3) Innovation is continuous - ANSThe disruptive innovation cycle suggests what three ways to
think about investments in radical innovation?
Electronic - ANS__________ commerce occurs when any aspect of the transaction is facilitated
by electronic communication technologies
the - ANS
E-business - ANSAn organization that uses information technologies or systems to support
nearly every part of its business
IoT (Internet of Things) - ANSA network that can automatically share data over the Internet
1) Mobile Devices
2) Social Media
3) Internet of Things
4) Cloud Computing
5) Big Data - ANSWhat are the five IT megatrends?
Data - ANSWhen processed, ______ transforms into information
Knowledge - ANSThis is the ability to understand information, form opinions, and make
decisions or predictions based on the information
Information Systems - ANSThis uses IT to collect, create, and distribute useful data
1) Hardware
2) Software
3) Telecommunications
4) Data/Information
5) People - ANSWhat are the five components of Information Systems?
They have a blend of technical, business, and system competency. - ANSWhat makes IS
personnel so valuable?
Operational level (day to day tasks) - ANSThis level of IS primarily focuses on process
automation
Porter's Competitive Five Forces - ANSWhen a company is trying to identify where to compete,
what should they be analyzing?
True - ANST/F: IS can help offset many competitive forces to help firms meet customer
demands when customers have a high degree of bargaining power.
1) Rivals within industry
2) New entrants
, 3) Customer's bargaining power
4) Suppliers' bargaining power
5) Threat of substitute products - ANSWhat are Porter's Five Forces?
Capabilities - ANSThis reflects the organization's ability to leverage their resources in the
marketplace.
Value Chain Analysis - ANSThe process of analyzing an organization's activities to determine
where value is added to products/services
Business Model - ANSThis is a summary of a business's strategic direction that outlines how the
objectives will be achieved.
Revenue Model - ANSThis describes how the firm will earn revenue, generate profits, and
produce a superior return on invested capital
True - ANST/F: The most important ingredient for any organization is determining how to
generate revenue.
Freemium - ANSThis is a marketing approach companies use to obtain customers by offering
something for free to build a large customer base and then charge a premium for unrestricted
versions with more functionality.
Sharing Economy - ANSAn economic system in which assets or services are shared between
private individuals, either free or for a fee, typically by means of the Internet
Innovation - ANSThis is key for organizations attempting to gain or sustain a competitive
advantage
Radical (or disruptive) innovations - ANSUsing a markedly new or different technology to access
new customer segments and significantly greater benefits
True - ANST/F: Open innovation can prove to be beneficial when you integrate external
stakeholders into the innovation process
1) Put tech ahead of strategy
2) Put tech ahead of marketing
3) Innovation is continuous - ANSThe disruptive innovation cycle suggests what three ways to
think about investments in radical innovation?
Electronic - ANS__________ commerce occurs when any aspect of the transaction is facilitated
by electronic communication technologies
