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Competitive Strategy Lecture Notes
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Competitive Strategy Lecture Notes

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Questions and Answers

What is the purpose of a database application?

To analyze, organize, present, print, and display data.

What is the main focus of understanding the external environment in competitive strategy?

Identify opportunities and threats to the business

What are the key components of a database?

Tables, relationships among tables, and metadata.

How does the value chain relate to competitive strategy?

<p>It involves the execution of the plan and creates internal structures.</p> Signup and view all the answers

What is the function of a primary key in a database?

<p>A primary key uniquely identifies a row in a table.</p> Signup and view all the answers

What do business processes help in understanding?

<p>Step-by-step activities and decisions for business activities.</p> Signup and view all the answers

Explain the concept of foreign keys in a database.

<p>Foreign keys are fields that are primary keys in other tables, creating relationships between tables.</p> Signup and view all the answers

What is the role of metadata in a database?

<p>Metadata supports the organizational and management aspects of the database.</p> Signup and view all the answers

Why is data modeling considered a challenging yet crucial topic?

<p>It addresses organizations' informational needs and shows how data works.</p> Signup and view all the answers

Differentiate between a DBMS and a database.

<p>A DBMS is a software program used to create, process, and administer a database, while a database is a collection of tables, relationships, and metadata.</p> Signup and view all the answers

What is the purpose of a database in storing business information?

<p>To store and organize information related to business objectives.</p> Signup and view all the answers

How does a database differ from an Excel spreadsheet in managing business objectives?

<p>Databases can track the interrelationships between different business objectives, unlike spreadsheets.</p> Signup and view all the answers

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