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MIS exam 1

Terms in this set (106)

Sustainable competitive advantage
financial performance that consistently outperforms industry averages.
Operational effectiveness
performing the same tasks better than rivals perform them
Commodity
a basic good that can be interchanged with nearly identical offerings by others
Fast follower problem
exists when savvy rivals watch a pioneers efforts, learn from their successes and missteps, then enter the market quickly with a comparable or superior product at a lower cost before the first mover can dominate
Augmented reality
a technology that superimposes content, such as images and animation on top of real-world images
Strategic positioning
performing different tasks than rivals or the same tasks in a different way
Inventory turns
sometimes referred to as intventory turnover, stock turns, or stock turnover. It is the number of times inventory is sold or used during a given period
Dense wave division multiplexing
a technology that increases the transmission capacity (and hence speed) of fiber-optic cable.
Scale advantages
advantages related to size
Channel conflict
exists when a firm's potential partners see that firm as a threat.
value chain
the set of activities which a product or service is created and delivered to customers
switching costs
the cost a consumer incurs when moving from one product to another
economies of scale
when costs can be spread across increasing units of production or in serving multiple customers
brand
the symbolic embodiment of all the information connected with a product or service
distribution channels
the path through which product or services get to customers
non-pricing entities
commonly known as patent trolls, these firms make money by acquiring and asserting patents, rather than bringing products and services to market
affiliates
third parties that promote a product or service, typically in exchange for a cut of any sales
APIs
programming hooks, or guidelines, published by firms that tell other programs how to get a service to perform a task such as send of receive data
viral marketing
leveraging consumers to promote a product or service
network effects
also known as Metcalfe's Law or network externalities. When the value of a product or service increases as its number of users expands
imitation-resistant value chain
a way of doing business that competitors struggle to replicate and that frequently involves technology in a key enabling role
information asymmetry
a decision situation where one party has more or better information than its counterparty
price transparency
the degree to which complete information is available
poter's five forces
1. the intensity of rivalry among existing competitors
2. the threat of new entrants
3. the threat of substitute goods or services
4. the bargaining power of buyers
5. the bargaining power of suppliers
PDAs
personal digital assistants, an early name for handheld mobile computing devices
logistics
coordinating and enabling the flow of goods, people, information, and other resources among locations
contract manufactoring
outsourcing production to third -party firms
Point-of-sale (POS) system
transaction processing systems that capture computer purchases. cash registers and store checkout systems.
Return on investment (ROI)
the amount earned from an expenditure
greige
goods to be further customized based on designer/manager collaboration
RFID
small chip based tags that wirelessly emit a unique identifying code for the item that they are attached to
vertical integration
when a single firm owns several layers in its vale chain
showrooming
the concept where customers browse at physical retailers, but purchase the products from lower-cost online rivals
operations
the organizational activities that are required to produce goods or services
information system (IS)
an integrated solution that combines five components: hardware, software, data, procedures, and the people who interact with and are impacted by the system
omnichannel
an approach to retail that offers consumers an integrated and complementary set of shops, sales, and return experiences
marginal costs
the costs associated with each additional unit produced
first sales docrtine
a US supreme court ruling stating that an individual who knowingly purchases a copy of a copyrighted work from the copyright holder receives that right to sell, display, or otherwise dispose of the particular copy, notwithstanding the interest of the copyright owner
collaborative filtering
a classification of software that monitors trends among customers and uses this data to personalize an individual customers experience
colocation facility
provides a place where the gear from multiple firms can come together and where the peering of internet traffic can take place
churn rate
the rate at which customers leave a product or service
long tail
refers to an extremely large selection of content or products. the phenomenon whereby firms can make money by offering a near-limitless selection
coopetition
is a situation where firms may both cooperate and compete with one another
disintermediation
removing an organization from a firm's distribution channel. collapses the path between supplier and customer
A/B test
a randomized group of experiments used to collect data and compare performance among two options studied
Bandwidth caps
a limit imposed by the ISP on the total amount of traffic that a given subscriber can consume
bindge-watching
viewing several episodes of a program in a single sitting
Over-the-top (OTT)
an industry term referring to media services that are provided over the internet instead of through conventional broadcasting mechanisms like cable or TV broadcast
windowing
making content available to a given distribution channel for a specified time window, usually under a different revenue model
silicon wafer
a thin, circular slice of material used to create semiconductor devices
volatile memory
storage that is wiped clean when power is cut off from a device
flash memory
nonvolatile, chip-based storage, often used in mobile phones, cameras, and MP3 players
grid computing
a type of computing that uses special software to enable several computers to work together on a common problem, as if they were a massively parallel supercomputer
cluster computing
connection server computers via software and networking so that their resources can be used to collectively solve computing tasks
Software as a service (SaaS)
a form of cloud computing where a firm subscribes to a third party software and receives a service that is delivered online
Internet of things
a vision where low-cost sensors, processors, and communication are embedded into a wide array of products and our environment, allowing a vast network to collect data, analyze input, and automatically coordinate collective action
latency
a term often used in computing that refers to delay, especially when discussing networking and data transfer speeds. low-latency systems are faster systems
fabs
semiconductor fabrication facilities; the multibillion dollar plants used to manufacture semiconductors
supercomputers
computers that are among the fastest of any in the world at the time of their introduction
microprocessor
the part of the computer that executes the instructions of a computer program
Moore's Law
chip performance per dollar doubles every eighteen months
massively parallel
computers designed with many microprocessors that work together, simultaneously, to solve problems
multicore microprocessors
microprocessors with two or more calculating processor cores on the same piece of silicon
Optical fiber line
a high speed glass or plastic-lined networking cable used in telecommunications
nonvolatile memory
storage that retains data even when powered down (flash drive)
price elasticity
the rate at which the demand from a product or service fluctuates with a price change
e-waste
discarded often obsolete technology; also known as electronic waste
solid state electronics
semiconductor based devices. often suffer fewer failures and require less energy than mechanical counterparts because they have no moving parts
server farms
a massive network of computer servers running software to coordinate their collective use
cloud computing
replacing computing resources- either an organization's or individual's hardware or software- with services provided over the internet
java
a programming language, initially developed by sun microsystems, designed to provide true platform independence for application developers
agile development
developing work continually and iteratively, with a goal of more frequent product rollouts and constant improvement across smaller components of the larger project
database management system (DBMS)
sometimes referred to as database software; software for creating, maintaining, and manipulating data
Business intelligence systems
systems that use data created by other systems to provide reporting and analysis for organizational decision making
platforms
product and services that allow for development and integration of software products and other complementary goods
enterprise software
applications that address the needs of multiple users throughout an organization or work group
Total cost of ownership
an economic measure of the full cost of owning a product
distributed computing
a form of computing where systems in different locations communicate and collaborate to complete a task
electronic data interchange (EDI)
a set of standards for exchanging messages containing formatted data between computer applications
application server
software that houses and serves business logic for use (and reuse) by multiple applications
integrated development environment (IDE)
an application that includes an editor, debugger, and compiler , among other tools
compile
step in which program code written in a language that humans can more easily understand, is then converted into a form that can be understood and executed by a microprocessor
Enterprise resource planning (ERP)
a software package that integrates the many functions (accounting, finance, inventory management, human resources) of a business
firmware
software stored on nonvolatile memory chips
User interface (UI)
the mechanism through which users interact with a computing device
Javascript Object Notation (JSON)
a popular data interchange format, JSON is a technology standard often used to format data when being sent or received via APIs
Supply chain management (SCM)
systems that can help a firm manage aspects of its value chain, from the flow of raw materials into the firm, through delivery of finished products and services at the point-of-consumption
web services
small pieces of code that are accessed via the application server and permit interoperable machine-to-machine interaction over a network
computer hardware
the physical components of information technology, which can include the computer itself plus peripherals such as storage devices, input devices like the mouse and keyboard, output devices like monitors and printers, networking equipment, and so on
programming language
provides the standards, syntax, statements, and instructions for writing computer software
Customer relationship management (CRM)
systems used to support customer-related sales and marketing activities
Scrum
an approach to organizing and managing agile projects that break deliverables into "sprints" delivered in one to six week increments by team of less than ten
desktop software
application installed on a personal computer, typically supporting tasks performed by a single user.
Software package
a software product offered commercially by the third party
Waterfall
a relatively linear sequential approach to software development.
Operating system
the software that controls the computer hardware and establishes standards for developing and executing applications
Scripting languages
programming tool that executes within an application
Compliance
ensuring that an organization's systems operate within required legal constraints, and industry and organizational obligations
Server
a program that fulfills the requests of a client
Feature creep
an expansion of the scope of a project
Extensible markup language (XML)
a tagging language that can be used to identify data fields made available for use by other applications
Client
a software program that makes requests of server program
Software development methodologies
methods to divide tasks related to software creation and deployment up into tasks targeted at building better products with stronger product management guidelines and techniques
Embedded systems
special-purpose software designed and included inside physical products.
Software
a computer program or a collection of programs. It is a precise set of instructions that tells hardware what to do.
Service-oriented architecture (SOA)
a robust set of web services built around an organization's processes and procedures
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