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Questions and Answers
What are Porter's Five Competitive Forces?
Threat of New Entrants, Bargaining Power of Suppliers, Bargaining Power of Buyers, Threat of Substitute Products, Industry Rivalry
Which of the following is NOT a type of organization strategy?
What is a Value Chain Analysis?
Identifying and analyzing the activities that add value to products or services to improve competitive advantage.
Technology/Strategy Fit ensures that investments in technology do not support business objectives.
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Which of the following is an example of a typical business model?
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What is radical innovation?
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Which component is NOT part of IS Infrastructure?
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What is the difference between intranet and extranet?
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Moore's Law states that the number of transistors on a microchip decreases over time.
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What encompasses green computing?
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Which cloud service model provides software applications over the internet?
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What is disintermediation in the supply chain?
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Which type of e-commerce involves businesses selling to consumers?
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Study Notes
Porter's Five Competitive Forces
- Helps analyze competition in an industry.
- Identifies five key forces:
- Threat of New Entrants: How easy it is for new companies to enter the industry.
- Bargaining Power of Suppliers: How much leverage suppliers have in negotiating prices.
- Bargaining Power of Buyers: How much leverage buyers have in negotiating prices.
- Threat of Substitute Products: The availability of alternative products that satisfy the same need.
- Industry Rivalry: The intensity of competition among existing players.
Broad Organizational Strategies
- Overall strategies organizations adopt.
- Key strategies:
- Cost Leadership: Offering the lowest prices in the market.
- Differentiation: Offering unique products or services that are valued by customers.
- Focus: Concentrating on a particular market niche.
Value Chain Analysis
- Identifies and analyzes activities that add value to products or services.
- Helps companies understand where they can improve their competitive advantage.
Technology/Strategy Fit
- Aligning technology initiatives with business strategies.
- Ensures that investments in technology support overall business objectives.
Typical C-Suite Roles
- Top management positions:
- CEO (Chief Executive Officer): Leads and manages the organization.
- CFO (Chief Financial Officer): Oversees financial matters.
- COO (Chief Operating Officer): Manages day-to-day operations.
- CIO (Chief Information Officer): Leads information technology initiatives.
Business Model
- Plan for how a company creates, delivers, and captures value.
Typical Business and Revenue Models in the Digital World
- Common business and revenue models:
- Subscription: Users pay a recurring fee for access to a service.
- Freemium: A basic version of a product is offered for free, while advanced features require payment.
- Advertising: Revenue generated through displaying ads.
- Affiliate marketing: Companies earn commissions by promoting other companies' products.
Innovation
- The process of creating new ideas, products, or methods.
Lean Startup Methodology
- A systematic approach to develop businesses and products.
- Aims to shorten product development cycles.
Radical Innovation or Disruptive Technology
- Innovations that significantly alter industries or create new markets.
IS Infrastructure
- Components:
- Storage: Physical or cloud storage solutions to store data.
- Networking: Connecting devices within an organization.
- Data Centers: Facilities to house computer systems and associated components.
- Applications: Software that performs specific tasks.
- Databases: Organized collections of data.
- Networking:
- Networks: Systems that connect computers.
- PAN (Personal Area Network)
- LAN (Local Area Network)
- WAN (Wide Area Network)
- Servers and Clients: Servers provide resources, clients request them.
- P2P (Peer-to-Peer): Network where peers share resources.
- Networks: Systems that connect computers.
- Internet: A global network of interconnected computers.
- WWW (World Wide Web): Information space accessed via the internet.
- URL, Domain Name, IP Address: Mechanisms for addressing and locating resources online.
Flow of a Basic Request
- Involves interaction between a client and a server.
- Client requests resources and the server provides them.
Internet vs. Intranet vs. Extranet
- Key differences:
- Internet: A global public network.
- Intranet: A private network within an organization that is accessible to employees.
- Extranet: An extension of an intranet that allows access to outside users.
Drivers for Evolving IS Infrastructure
- Factors influencing IS infrastructure evolution:
- Technological Advancements: New technologies emerge and become adopted.
- Business Needs: Shifting business requirements drive changes in infrastructure.
- Regulatory Changes: Compliance with regulations can necessitate changes.
Moore's Law
- Observation that the number of transistors on a microchip doubles roughly every two years.
- Leads to increased computing power and advancements in technology.
Big Data's Impact on IS Infrastructure
- Requires robust infrastructure to process and analyze large datasets effectively.
Green Computing
- Environmentally sustainable computing practices.
Cloud Computing
- Considerations:
- When to Consider: Scalability, flexibility, and cost-effectiveness are priorities.
- Considerations in Picking and Managing Vendors: Reliability, support, security, and compliance are important.
Cloud Service Models
- Types:
- IaaS (Infrastructure as a Service): Provides access to underlying infrastructure components.
- PaaS (Platform as a Service): Provides a platform for developing and deploying applications.
- SaaS (Software as a Service): Provides software applications over the internet.
Public vs. Private Cloud
- Key differences:
- Public Cloud: Services offered over the public internet.
- Private Cloud: Exclusive services for a single organization.
SOA (Service-Oriented Architecture)
- Software design principle where services are provided to other applications via a network.
Types of E-Commerce
- Key categories:
- B2C (Business-to-Consumer): Businesses selling to consumers (e.g., Amazon).
- C2B (Consumer-to-Business): Individuals selling to businesses (e.g., freelance platforms).
- B2B (Business-to-Business): Businesses selling to other businesses (e.g., wholesalers).
- C2C (Consumer-to-Consumer): Consumers selling to other consumers (e.g., eBay).
Types of E-Government
- Key categories:
- G2C (Government-to-Citizen): Services provided to citizens (e.g., online tax filing).
- G2B (Government-to-Business): Services for businesses (e.g., business licenses).
- G2G (Government-to-Government): Intergovernmental services (e.g., data sharing).
Disintermediation
- The removal of intermediaries in a supply chain.
- Allows direct transactions between producers and consumers.
Fintech
- Technology-based innovations in financial services.
Types of Internet Marketing
- Strategies for marketing online:
- SEO (Search Engine Optimization): Optimizing websites to rank higher in search results.
- Social Media Marketing: Using social media platforms to reach and engage audiences.
- Email Marketing: Sending promotional emails to target audiences.
Business-To-Consumer Strategies
- Types:
- Brick & Mortar: Physical stores (e.g., Walmart).
- Click & Mortar: Combination of online and physical presence (e.g., Target).
- Pure Play: Solely online businesses (e.g., Amazon).
- Omnichannel: Seamless integration of online and offline channels (e.g., Nordstrom).
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Description
Explore key concepts in business strategy, including Porter's Five Competitive Forces, Organizational Strategies, and Value Chain Analysis. This quiz will help you understand how companies analyze competition and create value in their market. Test your knowledge on strategic approaches that drive success in an industry.
