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47 terms

Ch. 1 (and 3) Multiple Choice Test

STUDY
PLAY
What is the definition of information?
Data converted into a meaningful and useful context
What is the definition of variable?
Data characteristic that stands for a value that changes or varies over time
Successful companies operate ______________, integrating the operations of all departments
cross-functionally
What is information that returns to its original transmitter and modifies the transmitter's actions?
Feedback
Who is responsible for collecting, maintaining, and distributing company knowledge?
CKO
What are Porter's Five Forces?
Buyer Power, Supplier Power, Threat of Substitute Products or Services, Threat of New Entrants, Rivalry among Existing Competitors
What are Porter's three generic strategies?
Cost Leadership, Differentiation, Focused Strategy
A business _______ is a standardized set of activities that accomplish a specific task, such as processing a customer's order.
process
______ value activities include firm infrastructure, human resource management, technology development, and procurement.
support
Knowledge ________ are individuals valued for their ability to interpret and analyze information.
workers
A ______ is a collection of parts that link to achieve a common purpose.
system
_____ is high when competition in fierce in a marker and low when competitors are more complacent
rivalry among existing competitors
Changing to a new product or service can be difficult for some customers because of ______
switching costs
A company that develops a unique difference in its products or services with the intent to influence demand is creating _____
product differentiation
______ represents buyer power for the organic milk industry
Safeway, Whole Foods, Vons
_____ are considered suppliers to the organic milk industry
Horizon Organic, Organic Valley, Whole Foods Organic
_____ would be considered a substiture product to organic milk
juice, tea
What are Porter's Three generic strategies?
cost leadership, differentiation, focused strategy
Based on the examples of Porter's three generic strategies in the textbook, which of the following is Walmart following?
broad cost leadership
In analyzing Neiman Marcus, which of Porter's three generic strategies would you determine that is was following?
broad differentiation
In analyzing Payless Shoes, which of Porter's three generic strategies would you determine that is was following?
focused cost leadership
In analyzing Tiffany & Co, which of Porter's three generic strategies would you determine that is was following?
focus differentiation
The ___-cost operator saved on expenses and passes the savings along to customers in the form of ____ prices
low; low
Describe Web 2.0
Collaboration, sharing and free
A(n_ _____ consists of nonpropriety hardware and software based on publicly known standards that allows third parties to create add-on products to plug into or interoperate with the system.
open system
Reviews and customer feedback on sellers in what type of user-generated content?
Reputation System
Which of the following possible answers best describes asynchronous communications?
Communication, such as email, in which the message and the response do not occur at the same time.
Which of the below defines synchronous communications?
Communications that occur at the same time, such as IM.
How do you describe a business that operates online only?
pure play
How do we describe agents, software or businesses that provide a trading infrastructure to bring buyers and sellers together?
Intermediaries
In ______, steps are added to the value chain as new players find ways to add value to the business process
reintermediation
What type of B2C business model has TJ Maxx implemented?
brick-and-mortar business
Barnes & Noble is a good example of a business that has used the ______ model
click-and-mortar business
What type of B2C model has Google implemented?
pure-play business
What describes how products in a network increase in value to users as the number of users increase?
Network Effect
What describes "what you see is what you get (WYSIWYG) tools?
mashup editors
What describes a format used to publish frequently updated works, such as blogs, news headlines, audio and video, in a standardized format?
real simple syndication
What describes the practive of sending brief posts to a personal blog, either publicly or to a private group of subscribers who can read the posts as IMs or as texts?
microblogging
The term that describes that crowdsourcing determines the tags or keyword-based classification system
folksonomy
What describes the collaborative activity of making shared online content with keywords or tags as a way to organize it for future navigation, filtering, or search?
social tagging
What is a plan that details how a company creates, delivers and generates revenue?
ebusiness model
During the first 10 years of the Internet, people primarily used it to connect computers together. Which category of web development would you place this time?
web 1.0
What would you not find for free on the internet?
subscription
What is the best term to describe an Internet customer who can order one-of-a-kind toys or a product specific to the customer's likes and dislikes?
mass customization
what is a business that operates on the internet without a physical store?
pure-play business
What is another name for the semantic web?
web 3.0
What occurs when a company knows enough about a customer's likes and dislikes that it can fashion offers more likely to appeal to that person?
personalization