Business and Intellectual Property Quiz

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Questions and Answers

What increases switching costs for buyers?

Creating a broader selection of products

Delivering poorer customer service

Offering valued incentives (correct)

Providing cheaper alternatives

When is the bargaining power of suppliers strongest?

When the supplier has exclusive distribution

When many firms supply the same product

When demand for products is high

When the quality of inputs is crucial (correct)

What factor contributes to a high level of rivalry among industrial competitors?

Significant technological advancements

High product differentiation

High costs to exit the industry (correct)

A growing market share

Which factor influences the threat of substitute products?

The buyers' willingness to substitute Signup and view all the answers

What reduces switching costs for buyers?

Transparent communication of benefits Signup and view all the answers

What can increase a buyer's switching costs?

Providing loyalty rewards Signup and view all the answers

In what situation is the threat of substitutes minimal?

When alternative products are highly differentiated Signup and view all the answers

What leads to a decline in market growth rate for industrial competitors?

Market saturation Signup and view all the answers

What is the duration of copyright protection for an individual's work?

Life of the author plus 70 years Signup and view all the answers

Which of the following is NOT a method of protecting intellectual property?

Trademark Signup and view all the answers

What does a patent grant the creator of an invention?

Exclusive monopoly on ideas behind the invention for 20 years Signup and view all the answers

What challenge does digital media present to intellectual property rights?

Ease of replication and transmission Signup and view all the answers

What is the primary purpose of the Digital Millennium Copyright Act (DMCA)?

To prevent the circumvention of technology-based protections for copyrighted materials Signup and view all the answers

Which of the following is a challenge in establishing uniqueness in digital media?

Ease of alteration Signup and view all the answers

What key concepts are essential for patent law?

Originality, novelty, and invention Signup and view all the answers

In the context of computer-related liability problems, what is a significant question to consider?

Who is responsible if software fails Signup and view all the answers

What trend is indicated for eCommerce growth after the pandemic compared to during the pandemic?

E-commerce growth is expected to slow down. Signup and view all the answers

What was the approximate share of eCommerce in total retail sales in 2020?

20.8% Signup and view all the answers

By how much did the share of eCommerce in total retail sales approximately double from 2017 to 2022?

From 10.4% to 20.8% Signup and view all the answers

What was the projected eCommerce share of total retail sales in 2026?

24% Signup and view all the answers

In which year did eCommerce share exceed 19% for the first time?

2020 Signup and view all the answers

What was the share of eCommerce in total retail sales in 2021?

21.9% Signup and view all the answers

How much of a growth percentage is eCommerce share expected to see from 2021 to 2023?

Increase of 2.2% Signup and view all the answers

What was the minimal recorded share of eCommerce in total retail sales during the period of 2015-2022?

7.4% Signup and view all the answers

What is a major advantage of quantum computing over conventional computing?

It can process bits as 0, 1, or both simultaneously. Signup and view all the answers

Which of the following is NOT an example of open-source software?

Microsoft Windows Signup and view all the answers

Which programming language is known for its use in building cloud computing applications?

Python Signup and view all the answers

What is the role of the Java Virtual Machine?

To execute Java code across different platforms. Signup and view all the answers

Which software development approach uses a service-oriented architecture?

Web services Signup and view all the answers

What is a primary characteristic of open-source software?

It can be modified by users. Signup and view all the answers

What does Swift primarily cater to?

Mobile app development for iOS Signup and view all the answers

Which of the following programming languages does share a direct lineage with Objective-C?

Swift Signup and view all the answers

Which unethical practice was Volkswagen involved in regarding their diesel-engine models in the United States?

They used fraudulent software to pass emissions tests. Signup and view all the answers

What defines the ethical issues surrounding information systems?

Concerns regarding collective behavior on correct information usage. Signup and view all the answers

What is a major social issue related to information technology?

The digital divide and unequal access to technology. Signup and view all the answers

How can information systems create new ethical questions?

By threatening existing distributions of power and money. Signup and view all the answers

Which of the following best describes political issues related to information systems?

Governance, laws, and regulations managing IT impacts. Signup and view all the answers

What does consumerization refer to in a business context?

Technology that starts in the consumer market and enters businesses Signup and view all the answers

What ethical concern involves how personal data is utilized in information systems?

Privacy concerns regarding data collection and usage. Signup and view all the answers

What challenge is associated with BYOD (Bring Your Own Device)?

Reevaluation of IT equipment management strategies Signup and view all the answers

What aspect of information systems creates opportunities for new kinds of crime?

The complex nature of cybersecurity measures. Signup and view all the answers

What is a primary benefit of virtualization?

Allows single hardware to function as multiple resources Signup and view all the answers

Which issue primarily deals with the broader societal impacts of IT?

Social issues that focus on economic structures and relationships. Signup and view all the answers

How does cloud computing benefit businesses during peak demand?

It allows offloading computing demands to remote servers Signup and view all the answers

What does software-defined storage (SDS) typically aim to improve?

Efficiency in managing data storage resources Signup and view all the answers

What is a financial advantage of using cloud computing for businesses?

Pay per usage similar to utility services Signup and view all the answers

What does virtualization reduce in terms of operational costs?

Hardware and power expenditures Signup and view all the answers

What is one impact of consumerization on IT departments?

Need for new strategies to manage devices and services Signup and view all the answers

Study Notes

Big data is a double-edged sword, presenting both opportunities and ethical concerns
Predictive policing algorithms can perpetuate existing biases, leading to unfair targeting of communities
Insurance companies using big data to determine premiums based on various factors (driving history, location, credit scores) can lead to discriminatory pricing. Lack of transparency in calculation methods leaves consumers disadvantaged.
Ethical and societal implications of new technologies and an inadequate legal environment present a problem.
Solutions include developing a big data strategy, privacy policies, and creating big data predictive models, mining technology, and analytics tools.
Various companies have faced ethical and legal issues related to information systems
Examples include General Motors (faulty ignition switches), Takata (faulty airbags), Citigroup, JPMorgan Chase, Barclays & UBS (manipulating LIBOR), SAC Capital (insider trading), GlaxoSmithKline (prescription drug promotion), McKinsey & Company (insider trading), and Bank of America (mortgage fraud).
More recently, Volkswagen was accused of cheating emissions tests.

Ethics and Information Systems

Ethics are principles of right and wrong that guide individuals' behaviors.
Information systems create new ethical dilemmas due to intense social change, challenging power, money, rights, and obligations.
These systems also facilitate new kinds of crime.

Layers of Issues

Ethical issues concern individual and collective behavior in the use of information systems, encompassing privacy concerns and algorithmic transparency.
Social issues focus on broad societal effects of IT, such as digital divide and social media influence.
Political issues concern governance, law, and regulations to manage ethical and social impacts of information technology, including intellectual property rights and cybersecurity.

Key Topics

Information Rights and Obligations: Who has the right to access, own, and control information?
Property Rights and Obligations: How intellectual property is protected in the digital age.
Accountability and Control: Determining responsibility for consequences stemming from IT system use.
System Quality: Ensuring reliability and security of IT systems.
Quality of Life: Impact of IT on well-being and societal standards.

Technology Trends that Raise Ethical Issues

Computing power doubles every 18 months.
Data storage costs rapidly decrease.
Detailed databases on individuals are easily maintained.
Data analysis methods advance.
Networking advances permit remote access to personal data.
Mobile device growth impacts usage and tracking of individual data.

Internet Challenges to Privacy

Cookies identify browser and track site visits.
Super cookies (Flash cookies) are used for tracking.
Web beacons (web bugs) are tiny graphics tracking online activity.
Spyware secretly collects information, transmitting keystrokes or displaying unwanted ads.
Google services employ behavioral targeting (DoubleClick).
The United States allows data collection and use for marketing.
Opt-out vs. opt-in models control data collection.

Technical Solutions

E-mail encryption, anonymity tools, and anti-spyware software help protect user privacy from tracking across sites.
Browser features like "private browsing" and "do not track" options offer more control, but effective protection is still a problem.

Other Real-World Ethical Dilemmas

Technology's use in workforce reduction.
Selling subscriber information to advertisers.
Employees using corporate IT for personal use.
IT use for monitoring employees.
Data analysis techniques like profiling and nonobvious relationship awareness (NORA) allow for detailed dossiers of individuals to be created from data in multiple sources.

Ethics in an Information Society: Basic Concepts

Responsibility: Accepting costs, duties, and obligations for decisions.
Accountability: Identifying the responsible parties.
Liability: Permitting recovery for damages done to individuals or firms.
Due process: Legal recourse for grievances against IT system actions.

Ethical Analysis

Five-step process for making ethical judgments about information systems decisions: define facts, identify conflict/dilemmas, identify stakeholders, explore options, and evaluate consequences.

Candidate Ethical Principles

Golden Rule, Immanuel Kant's Categorical Imperative, Descartes' Rule of Change, and the Utilitarian Principle guide ethical decision-making.

Information Rights: Privacy and Freedom in the Internet Age

Claim of individuals to be left alone, free from state surveillance or interference.
Individuals are entitled to control the information available about themselves.
Fair information practices (FIPs), COPPA rules, and the Do-Not-Track Online Act of 2011 regulate data collection, specifically for children.

European Directive on Data Protection

Use of data necessitates informed consent from customers.
Informed consent must include complete disclosure of all relevant facts for the decision to be rational.
EU member nations must adhere to similar privacy standards when transferring personal data to other countries
Stricter enforcement mechanisms are under consideration.

Safe Harbor

A private system for self-regulation of data policies and procedures without government intervention.
Businesses must use personal data from EU countries in accordance with EU standards.
Enforcement is carried out through self-regulation, consumer protection policies, and government oversight.

Property Rights: Intellectual Property

Intellectual property refers to intangible/tangible creations by individuals or corporations, including trade secrets, copyrights, and patents, and how these creations are protected.

Patents

Patents grant exclusive rights for use ideas behind inventions over a specific period of time.
Originality, novelty, and inventive concepts are crucial for obtaining patents.

Challenges to Intellectual Property Rights

Digital media's ease of replication, transmission, alteration, along with difficulty of establishing uniqueness create problems in enforcing rights to intellectual property.
Digital Millennium Copyright Act (DMCA) criminalizes circumvention of technology protecting copyrighted materials.

Determining responsibility for software failures: Who is liable in cases of software malfunction causing harm to computer users or property?
Difficulty of establishing liability when software is part of larger systems.
Software as a service: Establishing liability for services offered through software systems.

System Quality: Data Quality and System Errors

Establishing a reasonable standard of system quality includes factors such as accuracy, reliability, and system security.
Flawless software may not be economically feasible; therefore, software bugs, errors, and hardware failures remain a challenge.
Poorly entered data is the most common cause of system error in a business context.

Quality of Life: Equity, Access, Boundaries

Negative social consequences of systems include uneven distribution of power, rapid change, and effects on family, work, and leisure time.
Dependence on technology and vulnerability to negative effects of systems.
Computer crime and abuse of systems including spam, employment effects, and health risks.

ITM 100 Class 11: Information Systems, Organizations, and Strategy

Porter's five forces analysis for competitive strategies within a firm.
Value chain analysis provides a detailed view of a firm in terms of the primary and support activities involved in creating its products or services.
Network economics, virtual companies, and business ecosystems strategies to leverage networked abilities for competitive advantage.
Challenges of sustaining competitive advantage, which competitors may react to via imitation and counter strategies.

ITM 100 Class 10: Emerging Technologies & AI

Overview of emerging hardware platform trends including mobile devices, BYOD, cloud computing, and virtualization.
Software trends: Open-source software, software for the web (Java, HTML, HTML5), Web services, software outsourcing, and cloud services.
Artificial intelligence (AI): definitions, types (expert systems, machine learning, neural networks, natural language processing, computer vision, robotics), and common examples.
Intelligent agents in the business context.

ITM 100 Class 9: Securing Information Systems

Real-world instances of computer system security breaches (TJX, Heartland Payment Systems).
Data breaches, including types of computer crime, and vulnerabilities.
Security solutions for hardware, software, network, and user-level vulnerabilities.
Policies and procedures to secure information systems.
Key concepts associated with cryptography, including ciphers and keys.

ITM 100 Class 8: E-commerce, Digital Markets, and Digital Goods

Distinguish between B2B, B2C, and C2C e-commerce.
E-commerce revenue models including advertising, sales, subscription, free/freemium, transaction fees, and affiliates.
E-commerce's impact on marketing and how it transformed marketing methodology.

ITM 100 Class 7: Telecommunications, the Internet, and Wireless Technologies

Telecommunications concepts, including the structure of networks (local area networks (LAN), wide area networks (WAN)), and methods of communication (packet switching).
Overview of the Internet including its architecture, addressing (IP, DNS) and protocols (TCP/IP).
Brief look at emerging technologies with respect to wireless communications.

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Description

Test your knowledge on the dynamics of buyer-supplier relationships, industry rivalry, and the fundamentals of intellectual property rights. This quiz covers essential concepts including switching costs, the power of suppliers, and legal protections for creators. Assess your understanding of the challenges faced by digital media in relation to copyright and patents.