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CMIS 351 U3
| Question | Answer |
|---|---|
| What is productivity in business? | Producing more or better outputs using the same or fewer resources |
| How do information systems improve productivity? | They improve efficiency, effectiveness, communication, and business processes |
| What are the 3 major ways IT creates value? | Improves productivity and efficiency, alters competition, and reduces costs |
| Why is technology called an invisible industry? | Because it indirectly supports many other industries |
| What is efficiency in business processes? | Doing things right by completing processes faster or with fewer resources |
| What is effectiveness in business processes? | Doing the right things by providing goods or services customers value |
| What is a value chain? | A network of activities that increase the value of a good or service |
| Why are value chains important? | The more value a company adds, the higher the price it can charge |
| What are primary activities in a value chain? | Activities that directly create or produce the product or service |
| Examples of primary activities | Manufacturing, delivery, and customer service |
| What are support activities in a value chain? | Activities that indirectly support production and improve efficiency |
| Examples of support activities | HR, IT, accounting, and infrastructure |
| What is organizational strategy? | A plan that reflects a company’s goals and objectives |
| What should IS strategy align with? | The organization’s overall strategy |
| What model explains industry profitability? | Porter’s Five Forces |
| What are Porter’s Five Forces? | Bargaining power of customers, threat of substitutes, bargaining power of suppliers, threat of new entrants, and rivalry among existing firms |
| What is cost leadership strategy? | Competing by offering lower prices than competitors |
| Example of cost leadership | McDonald’s uses standardization and bulk purchasing |
| What is differentiation strategy? | Offering unique products or services customers perceive as valuable |
| Example of differentiation | Apple uses innovation and brand prestige |
| What is cost focus strategy? | Using low-cost strategies for a narrow market segment |
| Example of cost focus | Ryanair targets budget travelers with low-cost flights |
| What is differentiation focus strategy? | Offering unique products or services to a specific niche market |
| Example of differentiation focus | Whole Foods targets health-conscious consumers with organic products |
| What is a sustaining technology? | Technology that improves existing products and maintains customer value |
| Examples of sustaining technologies | Safer cars and yearly smartphone improvements |
| What is a disruptive technology? | Technology that creates a new market and eventually replaces older products or services |
| Example of disruptive technology | Netflix disrupting Blockbuster |
| What are the stages of diffusion of innovation? | Knowledge, persuasion, decision, implementation, and confirmation |
| How can IS provide competitive advantage? | Through products/services and business processes |
| How can IS be part of a product or service? | It directly supports how the product or service operates |
| Example of IS as part of a product/service | Car-sharing services use IS to track vehicle locations and rentals |
| How can IS support business processes? | By improving scheduling, maintenance, communication, and customer service |
| What are switching costs? | Costs or difficulties customers face when changing to another company |
| Why do organizations use IS to create switching costs? | To retain customers |
| Why are many competitive advantages temporary? | Competitors can copy products or systems |
| What is a sustainable advantage? | A long-term advantage competitors cannot easily copy |
| How does IS create sustainable advantage? | By being integrated into people, culture, procedures, and business functions |
| Why is sustainable advantage difficult to copy? | Competitors may copy hardware/software but not the entire integrated system |
| Why must IS continuously evolve? | To maintain competitive advantage over time |
| What is the relationship between business processes and value chains? | Business processes contribute activities that add value within the value chain |
| Why do companies need both efficiency and effectiveness? | Focusing only on one can reduce overall success |
| What is the purpose of Porter’s Five Forces? | To analyze industry competition and profitability |
| What role does IS play in organizational strategy? | IS supports competitive strategy and organizational goals |
Created by:
user-2019771