75 Questions
What strategy involves producing goods or services at the lowest possible cost?
Cost Leadership
Which factor refers to the power of suppliers in an industry?
Ability to charge more for goods or services
What does the threat of substitute products refer to?
How easily our product can be replaced by a different one
Which strategy involves developing a unique and different product from competitors?
Differentiation
What does 'growth' strategy involve?
Expanding into new markets or leveraging economies of scale
What does 'innovation' strategy involve?
Developing completely new products and services to replace those under threat
What does cloud computing mean in the simplest terms?
Storing and accessing data and programs over the internet instead of a computer's hard drive
What are the characteristics that define cloud data, applications, services, and infrastructure?
Remotely hosted, ubiquitous, commodified
Who is cloud computing available to?
General public, enterprises, corporations, businesses markets
What is the model for enabling convenient, on-demand network access to a shared pool of configurable computing resources?
Cloud computing
What do cloud computing customers avoid when they pay a provider only for what they use?
Capital expenditure on hardware, software, and services
What does ubiquitous mean in the context of cloud computing?
'Services or data available from anywhere and are always ‘on'
What are the three main service models of cloud computing?
IaaS, PaaS, SaaS
What is a characteristic of cloud computing that allows for resources to be rapidly provisioned and released?
Rapid elasticity
What are the types of e-commerce mentioned in the text?
B2B, B2C, B2E, C2C, C2B
What is a disadvantage of e-commerce mentioned in the text?
Inability to examine products personally
What is a characteristic of cryptocurrencies such as Bitcoin?
Use cryptography for security
What are the challenges mentioned in relation to cloud computing?
Security concerns, dependency on third parties, policy and access issues
What is the primary characteristic of cloud data, applications, services, and infrastructure?
Remotely hosted
What does 'ubiquitous' mean in the context of cloud computing?
Available from anywhere and always 'on'
What is the main characteristic of cloud computing that allows for a utility computing model similar to traditional utilities?
Commodified
Who is cloud computing available to?
General public, enterprises, corporations, and businesses markets
What is a key factor that cloud computing customers avoid when they pay a provider only for what they use?
Initial setup costs
What is the primary model for enabling convenient, on-demand network access to a shared pool of configurable computing resources?
Cloud computing model
What do cloud computing users pay for under the utility computing model?
What they use
What does the term 'commodified' mean in the context of cloud computing?
Standardized and priced services
What does cloud computing enable in terms of resources provision and release?
Rapid provision and release with minimal management effort or service provider interaction
What do cloud computing customers not own under the cloud computing model?
Physical infrastructure
What is the main advantage of e-commerce mentioned in the text?
Faster buying/selling process
What is the key characteristic of cloud computing that allows for resources to be rapidly provisioned and released?
Rapid elasticity
What are the challenges mentioned in relation to cloud computing?
Security concerns
What type of e-commerce involves transactions between businesses and consumers?
Business-to-Business (B2B)
What is a disadvantage of e-commerce mentioned in the text?
Inability to examine products personally
What are the three main service models of cloud computing?
Infrastructure-as-a-Service (IaaS), Platform-as-a-Service (PaaS), and Software-as-a-Service (SaaS)
What is a characteristic of cryptocurrencies such as Bitcoin?
Operates independently of a central bank
What is one opportunity enabled by cloud computing?
Flexibility in resource utilization
What strategy involves developing a unique and different product from competitors?
Differentiation strategy
What does e-commerce allow businesses to do on a global scale?
Reach customers 24 hours a day
What strategy involves producing goods or services at the lowest possible cost?
Cost Leadership
What is an example of the Cost Leadership strategy mentioned in the text?
Aldi and Lidl competing in the supermarket industry
What strategy involves developing a product that is unique and different from other competitors?
Differentiation
Which factor refers to the power of buyers in an industry?
Power of Buyers
What does the term 'switching costs' refer to in the context of suppliers?
The costs incurred in changing supplier
What does the 'threat of substitute products' refer to?
How easily is our product replaced by an entirely different product
What does the 'power of suppliers' refer to?
How powerful are the suppliers in your industry
What does 'alliance' strategy involve?
Establishing new business linkages to allow focus on core competencies and outsource other activities
What is a characteristic of responding to competition through growth strategy?
Expanding the company’s market by selling into new markets or leveraging economies of scale
What is a characteristic of responding to competition through innovation strategy?
Developing completely new products and services to replace those under threat
What is one of the key characteristics of cloud computing?
On-demand self-service
What is the primary model for enabling convenient, on-demand network access to a shared pool of configurable computing resources?
Infrastructure-as-a-Service (IaaS)
What is a disadvantage of e-commerce mentioned in the text?
Personal product examination ability
What is a characteristic of cryptocurrencies such as Bitcoin?
Use of cryptography for security
What is an opportunity enabled by cloud computing?
Flexibility
What strategy involves producing goods or services at the lowest possible cost?
Cost Leadership strategy
What does 'B2C' stand for in the context of e-commerce?
Business-to-Customer
What is a competitive advantage of e-commerce mentioned in the text?
Ease of entry for new businesses
What are the challenges mentioned in relation to cloud computing?
High policy and access issues
What is the primary characteristic of cloud data, applications, services, and infrastructure?
They are remotely hosted on infrastructure
What is an example of the Cost Leadership strategy mentioned in the text?
Minimizing production costs to offer lower prices
What does the term 'switching costs' refer to in the context of suppliers?
The costs associated with changing suppliers
What does the threat of substitute products refer to?
The potential impact of alternative products or services
What does 'alliance' strategy involve?
Forming collaborations with competitors
What is a characteristic of cryptocurrencies such as Bitcoin?
They are controlled by a single centralized authority
What are the characteristics that define cloud data, applications, services, and infrastructure?
They are remotely hosted on infrastructure
What is a disadvantage of e-commerce mentioned in the text?
High operational costs for online stores
What does 'growth' strategy involve?
Achieving economies of scale by increasing production
What do cloud computing customers not own under the cloud computing model?
The physical infrastructure
What strategy does British Airways pride itself on, according to the text?
Differentiation
What does the 'power of buyers' in an industry refer to?
The ability of buyers to drive down prices and have a wide choice
What is an example of responding to competition through the Growth strategy, as mentioned in the text?
McDonald’s expanding abroad due to excessive competition in the US
What does the 'threat of substitute products' refer to?
The ease of replacing the product with a different one
"Cost Leadership" strategy involves producing goods or services at:
The lowest possible cost
What is an example of responding to competition through Innovation strategy, as mentioned in the text?
Developing completely new products and services like IBM did
What does 'Alliance' strategy involve?
The establishment of new business linkages to allow focus on core competencies and outsource other activities
What is an example of responding to competition through Cost Leadership strategy, as mentioned in the text?
Aldi and Lidl competing in the supermarket industry by keeping their costs as low as possible.
Study Notes
– Cloud computing is a type of computing that offers on-demand access to a shared pool of resources over the internet. The key characteristics of cloud computing are: 1. On-demand self-service, 2. Broad network access, 3. Resource pooling, 4. Rapid elasticity, 5. Measured service. – There are three main service models of cloud computing: Infrastructure-as-a-Service (IaaS), Platform-as-a-Service (PaaS), and Software-as-a-Service (SaaS). – Cloud computing enables companies and applications to be infrastructure-less and save on capital and operational investments. – Opportunities of cloud computing include: flexibility, cost savings, accessibility, and economies of scale. – Challenges of cloud computing include: security concerns, dependency on third parties, and policy and access issues. – E-commerce is a term used to describe any type of business or commercial transaction conducted over the internet. – The main types of e-commerce include: Business-to-Business (B2B), Business-to-Consumer (B2C), Business-to-Employee (B2E), Consumer-to-Consumer (C2C), and Consumer-to-Business (C2B). – Digital assets are the perfect match for digital markets as they have virtually zero production costs and a global distribution channel. – Advantages of e-commerce include: faster buying/selling process, global reach, no distance or time barriers, and cost savings. – Disadvantages of e-commerce include: inability to examine products personally, lack of human interaction, potential security concerns, and limited availability of stock. – Crypto currencies, such as Bitcoin, are digital or virtual currencies that use cryptography for security. They operate independently of a central bank and can be transferred directly between individuals without the need for intermediaries. – A competitive advantage of e-commerce is the ease of entry for new businesses, as there are fewer barriers to entry compared to traditional retail. – E-commerce allows businesses to operate on a global scale, reach customers 24 hours a day, and automate sales processes, resulting in cost savings and increased efficiency. – E-commerce also provides buyers with a wider range of choices and the ability to access products from anywhere in the world. – E-commerce has several disadvantages, including the inability to examine products personally, potential security concerns, and the possibility of international legislation and shipping issues. – Cloud computing and e-commerce are two distinct but related technologies that have revolutionized the way businesses operate and interact with customers.
– Cloud computing is a type of computing that offers on-demand access to a shared pool of resources over the internet. The key characteristics of cloud computing are: 1. On-demand self-service, 2. Broad network access, 3. Resource pooling, 4. Rapid elasticity, 5. Measured service. – There are three main service models of cloud computing: Infrastructure-as-a-Service (IaaS), Platform-as-a-Service (PaaS), and Software-as-a-Service (SaaS). – Cloud computing enables companies and applications to be infrastructure-less and save on capital and operational investments. – Opportunities of cloud computing include: flexibility, cost savings, accessibility, and economies of scale. – Challenges of cloud computing include: security concerns, dependency on third parties, and policy and access issues. – E-commerce is a term used to describe any type of business or commercial transaction conducted over the internet. – The main types of e-commerce include: Business-to-Business (B2B), Business-to-Consumer (B2C), Business-to-Employee (B2E), Consumer-to-Consumer (C2C), and Consumer-to-Business (C2B). – Digital assets are the perfect match for digital markets as they have virtually zero production costs and a global distribution channel. – Advantages of e-commerce include: faster buying/selling process, global reach, no distance or time barriers, and cost savings. – Disadvantages of e-commerce include: inability to examine products personally, lack of human interaction, potential security concerns, and limited availability of stock. – Crypto currencies, such as Bitcoin, are digital or virtual currencies that use cryptography for security. They operate independently of a central bank and can be transferred directly between individuals without the need for intermediaries. – A competitive advantage of e-commerce is the ease of entry for new businesses, as there are fewer barriers to entry compared to traditional retail. – E-commerce allows businesses to operate on a global scale, reach customers 24 hours a day, and automate sales processes, resulting in cost savings and increased efficiency. – E-commerce also provides buyers with a wider range of choices and the ability to access products from anywhere in the world. – E-commerce has several disadvantages, including the inability to examine products personally, potential security concerns, and the possibility of international legislation and shipping issues. – Cloud computing and e-commerce are two distinct but related technologies that have revolutionized the way businesses operate and interact with customers.
– Cloud computing is a type of computing that offers on-demand access to a shared pool of resources over the internet. The key characteristics of cloud computing are: 1. On-demand self-service, 2. Broad network access, 3. Resource pooling, 4. Rapid elasticity, 5. Measured service. – There are three main service models of cloud computing: Infrastructure-as-a-Service (IaaS), Platform-as-a-Service (PaaS), and Software-as-a-Service (SaaS). – Cloud computing enables companies and applications to be infrastructure-less and save on capital and operational investments. – Opportunities of cloud computing include: flexibility, cost savings, accessibility, and economies of scale. – Challenges of cloud computing include: security concerns, dependency on third parties, and policy and access issues. – E-commerce is a term used to describe any type of business or commercial transaction conducted over the internet. – The main types of e-commerce include: Business-to-Business (B2B), Business-to-Consumer (B2C), Business-to-Employee (B2E), Consumer-to-Consumer (C2C), and Consumer-to-Business (C2B). – Digital assets are the perfect match for digital markets as they have virtually zero production costs and a global distribution channel. – Advantages of e-commerce include: faster buying/selling process, global reach, no distance or time barriers, and cost savings. – Disadvantages of e-commerce include: inability to examine products personally, lack of human interaction, potential security concerns, and limited availability of stock. – Crypto currencies, such as Bitcoin, are digital or virtual currencies that use cryptography for security. They operate independently of a central bank and can be transferred directly between individuals without the need for intermediaries. – A competitive advantage of e-commerce is the ease of entry for new businesses, as there are fewer barriers to entry compared to traditional retail. – E-commerce allows businesses to operate on a global scale, reach customers 24 hours a day, and automate sales processes, resulting in cost savings and increased efficiency. – E-commerce also provides buyers with a wider range of choices and the ability to access products from anywhere in the world. – E-commerce has several disadvantages, including the inability to examine products personally, potential security concerns, and the possibility of international legislation and shipping issues. – Cloud computing and e-commerce are two distinct but related technologies that have revolutionized the way businesses operate and interact with customers.
Test your knowledge of the fundamental concepts of cloud computing with this quiz. Learn about storing and accessing data and programs over the internet instead of traditional computer hard drives, as well as the characteristics that define cloud data, applications, services, and infrastructure.
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