Threat of substitutions - Study guides, Revision notes & Summaries

Management Information Systems (MIS) : the management and use of information systems that help organizations achieve their strategies Information Technology (IT) : the products, methods, inventions, and standards that are used for the purpose of producing information. * IT pertains to: Hardware, Software, and Data Information Systems (IS) : an assembly of hardware, software, data, procedures, and people that produces information Five (5) Components : Hardware | Software | Data | Pr...

Information System Five Components? CORRECT ANSWER -Hardware -Software -Data -Procedures -People As you move toward the Human component of IS what happens to the difficulty? CORRECT ANSWER Increases Organization Strategy Determines? CORRECT ANSWER Industry Structure Michael Porter's Five Forces? CORRECT ANSWER -Bargaining Power of Customers -Threat of substitutions -Bargaining power of suppliers -Threats of new entrants -Rivalry Michael Porter's Four Competitive Strategies?...

WGU C483 Principles of Management Review Guide Exam Questions and Detailed answers 2023/2024 Describe the concepts of strategic vision (intent), mission, and goals - correct answers Mission-Clear and concise expression of the basic purpose of the organization. (Who, what, service provided and values). Strategic Vision - Future - Long term direction of the company. Goals -Major targets or results that relate to the long-term survival, value, and growth of the organization Explain what ...

COB 204 FINAL EXAM Questions and answers, rated A+ Moore's Law - -The number of transistors per square inch on an integrated chip doubles every 18 months Metcalfe's Law - -the value of a network is equal to the square of the number of users connected to it Nielsen's Law - -network connection speeds for high-end users will increase by 50% per year Kryder's Law - -the storage density on magnetic disks is increasing at an exponential rate abstract reasoning - -construct a model or re...

CFA Level 1 - 101 Must Knows 368 Questions with Verified Answers Addition Rule of Probability - CORRECT ANSWER ADDITION: P(A or B) = P(A) + P(B) - P(AB) Roy's Safety First Criterion - CORRECT ANSWER Safety First Ratio = (E(R) - Rₜ) / σ Larger ratio is better If (Rₜ) is risk free rate, then it becomes Sharpe Ratio Sharpe Ratio - CORRECT ANSWER Sharpe Ratio = (E(R) - RFR) / σ Larger ratio is better If (Rt) is higher than RFR, then it becomes Safety First Ratio Centra...

Why must business professionals understand how MIS supports decision making and problem solving? (Chapter 1) - correct answer MIS relies on models for computational and analytical routines that mathematically express relationships among variables to help managers calculate risks, understand uncertainty, change variables, and manipulate time to make decisions •Business professionals need to: -Take an active role to ensure systems meet their needs....

What are the organizational factors in planning a new system? - Environment, culture, structure, business processes, politics, management decisions. What are Porter's 5 competitive forces? - Bargaining power of the customer, threat of substitutions, bargaining power of suppliers, threat of new entrants rivalry. What are the four generic strategies for dealing with competitive forces? - Focus, Industry-wide, cost, differentiation. Locking in - makes a customer dependent on a sole ve...

Can a patient successfully sue a doctor if there is no physician-patient relationship? - No If there is no prior physician-patient relationship, are you legally obliged to respond to a call from a patient for treatment? - No Does being on call give rise to a physician-patient relationship? - No How can one terminate a physician-patient relationship, without abandonment if there is ongoing treatment? - 30 days written notice; must provide for emergency Does a physician's duty extend to the...

Semiotic analysis - correct answer to make the process of creating meaning from any source of media strange enough that it is visible. Interpretation of media - correct answer how do we go from making a text to its interpretation by a specific audience? Goal of the transmission model of communication - correct answer it aims to maximize the the chance that the receiver receives the same...

Moore's Law - correct answer The number of transistors per square inch on an integrated chip doubles every 18 months. Metcalfe's Law - correct answer The value of a network is equal to the square of the number of users connected to it. Nielsen's Law - correct answer Network connection speeds for high-end users will increase by 50 percent per year. ...