BADM 350 Quiz 1 – Flashcards
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The _____ department in an organization not only ensures that systems get built and keep running but also take on strategic roles targeted at proposing solutions for how technology can give the firm a competitive edge.
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Information Technology
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Data analytics and business intelligence are driving discovery and innovation. (T/F)
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True
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The phrase _____ is often used to describe the trend of putting "smarts" (meaning computing and telecommunications technology) putting into everyday products such as lamps, watches, thermostats, and door locks; as well as embedding tech into industrial goods.
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internet of things
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A firm's financial performance that consistently outperforms its industry's peers is known as _____.
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sustainable competitive advantage
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One of the key questions posed by 21st century managers is "How can we possibly compete when everyone can copy our technology and the competition is a click away?" One path to take involves creating a resource or set of resources for sustainable competitive advantage. List the four characteristics that such resources must have for the possibility of sustainable competitive advantage to exist. Why is it important to have all four simultaneously? (Hint: resource-based view )
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1. Value 2. Rare 3. Imperfectly Imitable 4. Non-Sustainable
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List down Porter's five forces?
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a. Competitive rivalry b. Threat of substitutes c. Threat of new entrants d. Bargaining power of suppliers e. Bargaining power of buyers
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Startup firms can struggle to gain lower prices from rivals, but FreshDirect seems to have found several ways to gain lower supplier prices. FreshDirect buys direct from suppliers, eliminating any markup from a middleman. In addition to this, the firm employs other methods to get lower prices from suppliers. Which of the following is not a way FreshDirect helps suppliers in exchange for supplier agreement to offer it better pricing terms?
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FreshDirect shares warehouse space with farmers and livestock producers
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Outsourcing production to third-party firms is called________.
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Contract Manufacturing
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Small chip-based tags that wirelessly emit a unique identifying code for the item that they are attached to are called _____.
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RFID
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10. Zara holds a competitive advantage over its rivals in spite of:
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Keeping large portions of its production processes in-house.
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How does Zara differ from its competitors in converting ideas into products?
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Zara concepts appear in stores in fifteen days on average compared to rivals who receive new styles once or twice a season.
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The strengthening of the euro relative to the dollar has insulated Zara against financial vulnerabilities. (T/F)
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False
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Which of the following is true of Netflix?
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It began as a DVD subscription model and then simultaneously introduced a video streaming subscription while maintaining the legacy business.
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Netflix offered its subscribers a selection of over one hundred thousand DVD-by-mail titles, while other video rental firms can only offer as much as three thousand. This presents a significant _____ for Netflix over its rivals.
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Scale advantage
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Collaborative filtering is a classification of software that:
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monitors trends among customers to personalize an individual customer's experience.
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Even if Netflix gave Cinematch (recommendation software) away to its rivals, they would still not be able to make the same kind of accurate recommendations as Netflix. This is because of Netflix's _____.
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data advantage
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Crowdsourcing is
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the act of taking a job traditionally performed by a designated agent and contracting it out to an undefined generally large group of people in the form of an open call.
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How is scale important to Netflix streaming business?
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a. A larger firm with more customers can spend more on content licenses b. The firm can build larger data centers as it competes with the likes of Amazon Prime c. Netflix can continue to expand its network of nationwide distribution centers to overseas locations d. It will allow the firm to improve the marginal cost of its titles, which will also improve profitability e. All of the above
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Computer hardware refers to:
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the physical components of information technology.
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Which of the following is an example of computer hardware?
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A video game console
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_____ refers to a precise set of instructions that tell the computer hardware what to do.
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Software
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If a computer system can be equated to a layered cake, which of the following combinations represents the computer system in the bottom-to-top order?
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Hardware, operating system, application, user
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Which of the following is an operating system?
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Linux
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When referring to the 'software layer cake' model, Microsoft Office, Angry Birds, and MySQL are all _____.
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Applications
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When referring to the 'software layer cake' model, Android, Windows, and iOS are all ___
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operating systems
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Which of the following is one of the reasons for the failure of technology projects?
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Inadequate testing of systems before deployment
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_____ refers to software that is free and where anyone to look at and potentially modify the code.
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Open source software
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Which of the following sets of software represents the constituents of the LAMP stack?
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Linux, Apache, MySQL, Python
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Open source software products often have fewer bugs than their commercial counterparts because of the:
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large number of persons who have looked at the code.
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Vendors who use open source as part of their product offerings can expect to bring new products to the market faster because:
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they can skip whole segments of the software development process.
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Less popular open source products are not likely to attract the community of users and contributors necessary to help improve these products over time. This situation reiterates the belief that _____ are a key to success.
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network effects
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Oracle, a firm that sells commercial ERP and database products, provides Linux for free, selling high-margin Linux support contracts for as much as five hundred thousand dollars. Oracle's motivation for this lies in:
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using open source software to wean customers away from competitors.
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Cloud computing refers to:
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replacing computing resources with services provided over the Internet.
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Which of the following is true of software as a service (SaaS)?
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It refers to software that is made available by a third-party online.
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One of the risks associated with SaaS is the:
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dependence on a single vendor.
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In _______, clients can select their own operating systems, development environments, underlying applications like databases, or other software packages, while the cloud firm usually manages the infrastructure.
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IAAS (infrastructure as a service)
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______ is the general term used to describe the massive amount of data available to today's managers. (Hint: 3 V's)
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Volume
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_______ refers to type of artificial intelligence that leverages massive amounts of data so that computers can improve the accuracy of actions and predictions on their own without additional programming
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Machine learning
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Data becomes _____ when it is presented in a context so that it can answer a question or support decision making.
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knowledge
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Knowledge is defined as:
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data presented in a context so that it can answer a question or support decision making.
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_____ are the most common standard for expressing databases, whereby tables (files) are related based on common keys.
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Entities
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Database technology known by the term _____ is especially popular with Internet firms that rely on massive, unwieldy, and disparately structured data; and this technology is often at the heart of what are often characterized as "big data" efforts.
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NO SQL
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If a customer pays a retailer in cash, he is likely to remain a mystery to the retailer because his name is not attached to the money. Retailers can tie the customer to cash transactions and track the customer's activity if they can convince the customer to use a _____.
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loyalty card
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The three Vs of "Big Data" are _________; characteristics that distinguish it from conventional data analysis problems and require a new breed of technology.
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volume, velocity, and variety
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The open-source project known as ______ was created to analyze massive amounts of raw information better than traditional, highly structured databases.
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HADOOP
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Which of the following is not considered an advantage of Hadoop?
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relational structure
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_____ is the process of using computers to identify hidden patterns in and to build models from large data sets.
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Data mining
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Consider database Products (ProductName, Price, CategoryID) Output - Each product name with its price in cents - Also mark the products with price >10$ and category='beverage' as 'expensive' and others as 'reasonable'
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SELECT productname, price*100, 'expensive' FROM products WHERE price>10 and categoryID='beverage' UNION SELECT productname, price*100, 'reasonable' FROM products WHERE price<=10 OR categoryID'beverage'
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What are the four data mining functions that data scientist can apply in their analysis?
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-Mining frequent patterns, associations, and correlations - Cluster Analysis -Outliers Analysis -Classification and regression for predictive analysis
