MIS 302F Final Study Guide Part 1
MIS 302F Final Study Guide Quiz
Test your knowledge on key concepts related to management information systems and innovation. This comprehensive quiz covers a range of topics from Moore's Law to the Innovator's Dilemma, ensuring you're well-prepared for your final exam.
- 55 questions covering essential MIS concepts
- Multiple choice and checkbox formats
- Immediate feedback on your answers
All innovations by definition are always constructive and have a positive effect on businesses and the economy.
True
False
The evolution of information technology encouraged changes in the _________ of companies such as those found in the stock trading industry.
Business Models
Leadership Development
Creativity
None of these
Which of the following is not true about how Moore's Law affects IT or chip-based products today?
The life of an IT product is much shorter than traditional products like automobiles.
Value of IT products increases quickly over time.
Competition is becoming hyper-competition.
Material products like a barrel of oil won't always lose value as fast as IT products.
Moore's Law states that ___________ will double every 2 years while the ___________ will stay the same.
The price of chip production; amount of computer chips produced
The amount of computer chips produced; price of chip production
The amount of transistors on a chip; price of chip production
The price of chip production; amount of transistors on a chip
Innovation is generally positive for _________ while this is not always the case for __________.
Businesses; consumers
Consumers; businesses
In the 1930s, around the Great Depression, the average lifespan of a company on the S&P index was around 5-10 years.
True
False
Based on what we learned in the Creative Destruction portion of Unit 1, we see that many companies are built on the hopeful assumption of ________, while the capital markets exist with the assumption of ____________.
Creativity, stability
Change, stability
Discontinuity, continuity
Continuity, discontinuity
Cultural lock-in ____________ a company's ability to innovate and respond to market changes.
Decreases
Increases
Fixes
Begins
The innovator's dilemma faced by Kodak had which of the following impacts?
It did not commercialize the digital film technology it developed
It cannibalized its own film product
It expanded into new product lines that you see today
It became one of the most successful companies today
Managerial inertia can occur when leadership is threatened by new technologies that threaten existing profitable parts of your business.
True
False
The Internet of Things is known as a ___________ innovation, which is an innovation that can create new markets or possibilities but can eventually be destructive to an existing market.
Creative
Information technology
Strategic
Disruptive
The cost of 1 gigabyte of storage used to be over a thousand dollars in the early nineties and now is worth close to a penny.
True
False
Based on our understanding of Moore's Law, which of these is a true statement?
A chip today will hold its value and be the same price in two years.
A chip today will likely lose half of its value in two years.
A chip's performance will increase 50 percent in two years.
A chip's performance will double as will its price, every two years.
In 1930, even amid the Great Depression, the average lifespan of a company on the S&P company index was more than 50 years.
True
False
What is noted as one of the main reasons that companies eventually fail over time?
Poor Strategy
Cultural Lock-in
Hyper-Competition
Not in Touch with Customers
Lack of Skills
Kodak experienced _____________ when it developed digital film technology but did not commercialize this product for its customers out of fear it would reduce focus on film, which was the major source of Kodak's current profits and shareholder value.
Market Success
The Innovator's Dilemma
Cannibalization
Innovation
If your refrigerator knows its contents and can figure out what needs to be purchased or the ingredients available in the fridge to make a specific recipe, this is part of which of these growing IT concepts?
Fridge of the Future
The Internet of Things
Creative Destruction
Mobile Application Adoption
If Moore's Law holds, what can be true about your IT inventory in a company?
Computers you own today will be worth half their value in two years.
Computers you own today will perform at half the speed as computers in two years.
Both choices are true.
None of these choices are true.
Which of these is the inability to change the corporate culture even in the face of clear market threats?
Continuous thinking
Cultural lock-in
Network effects
Cannibalization
Which of these are two critical components of cultural lock-in that companies should watch for?
Strong beliefs in existing cultures and consensus-based value systems
Inability to predict all customer needs and the ability to innovate freely
Strong rejection of company culture and strong acceptance of free thinking
Inability to innovate and rejection of the company culture
Which of these is a way Kodak and other companies could overcome the Innovator's Dilemma?
Resist change when the market is uncertain
Make all decisions by consensus
Be willing to cannibalize an existing cash-cow
Focus on core skill development with little or no new skill development
A network effect is when which of these occurs?
When 10 or more users negatively impact the wealthiest users in the network.
When a firm buys products that are not compatible with previous versions of those products.
When a firm buys specialty products and services that must be maintained.
When the value of using a product grows exponentially for users.
Which of these terms describes the effect when a user cannot switch to something else easily?
Network Effect
Lock-in
Complement
Marginal Impact
A direct network effect occurs when _______.
A network is created entirely by one set of IT products or services.
A network is created by multiple platforms for a product or service.
A network is supported by open source products and services.
A network is supported by diverse types of closed and somewhat closed operating systems.
Which of these is not one of the software characteristics?
Marginal costs are approximately zero
Compatibility is critical for complements
Usually has switching costs
Software creation can be automated
Which layer has the greatest source of lock-in within the ecosystem?
Database
ERP Application
Middleware
Operating System
If a company chooses to make its own hardware, this allows that company which of these?
Minimal ability to keep other companies from stealing its OS.
Stable, complementary products developed by competitors.
Less control of its OS and applications that are built off of this hardware.
More control of its OS and applications that are built off of this hardware.
Which of these is a possible threat to Microsoft that was discussed in this unit?
Growing interest to use Open Source in other countries
Extreme competition in the marketplace from numerous competitors
Poor quality of products
Lack of skill development for employees and few innovative ideas
Which of these is NOT one of three types of cloud services that exist for companies today?
IAAS – Infrastructure as a Service
PAAS – Platform as a Service
HAAS – Hardware as a Service
SAAS – Software as a Service
Renting a software solution gives companies which of these benefits?
A lower upfront cost
A custom solution
A slower, more controlled implementation time
A common application
When deciding which software to purchase, Company C realized that it wants to make a good size investment in its future software solution. It also wants to retain complete control over its data but it also can’t afford to start from scratch on this project since time is important. Which of the following options should Company C consider?
Building a software
Renting a service from the cloud
Buying an off-the-shelf software
None of these
Which of these terms means that one product increases the value of the other such that the sum is greater than the value of each product?
Network Effects
Lock-In
Complements
Marginal Impacts
One unique characteristic of the software is that it requires ______ upfront costs to create the initial product, and _______ marginal costs for recreation of this.
High, Low
Low, High
Minimal, Minimal
Enormous, Enormous
Based on your understanding of the layer characteristics in the ecosystem, you could expect that a server running Microsoft SQL Server database software is like running on top of what Operating System?
Linux
IOS
Windows
Android
Customizability _______ as you move towards the _______ layers of the software ecosystem.
Increases; Inside
Decreases; Outside
Increases; Outside
None of these
Building a software solution gives companies which of these benefits?
Lower upfront costs
Software matches process
Faster implementation time
Common application
The concept that the value of a network increases exponentially as more users join the network is supported by what observation?
Moore's Law
Metcalfe's Law
Creative Destruction
Disruptive Innovation
In software the ____________ is close to zero.
Marginal Price
Internal Price
Marginal Cost
Internal Cost
Product bundling is harder to do now for Microsoft because it can be seen as a misuse of their monopoly on the OS market and risk lawsuit.
True
False
The Apple App Store is a ________ that serves to connect users and app developers.
Marketplace
Platform
Online experience
virtualized market
Many say Blackberry failed due to having a weak application layer to its ecosystem. It built all the applications itself versus letting opening up to let outside developers make apps. Opening up to outside developers would be more of a ______________.
Dual-side market approach
Single-sided market approach
One-side market approach
Two-sided market approach
Apple built a strong ecosystem around their OS, which allowed devices to increase compatibility. What affect does this have on its customers?
Increases lock-in for consumers and decreases likelihood they will leave
Decreases lock-in for consumers and makes it easier for consumers to leave
Increases switching costs so consumers can more easily use many different Android and Apple devices
Decreases switching costs making it easier to leave Apple products
What is one trend Apple seems to follow when it introduces products like the iPod and iPhone?
It starts as a Controlled Migration and then eventually moves to a Performance Play.
It starts as a Discontinuity Play and then eventually moves to a Performance Play.
It starts as a Controlled Migration and then eventually moves to an Open Migration.
It starts as a Performance Play and then eventually moves to a Controlled Migration.
Which of these is not at all an open technology and product?
Facebook
Square
Blackberry
Apple (Strictly application layer)
When is a product compatible?
When it has a similar look, feel, and function to other products
When it has evolved into a truly unique product
When it can connect to or use the technology already in existence
When it has a significant performance improvement
Controlled migration implies which of these?
A firm makes its technology open and provides great performance
A firm keeps control of its technology and provides compatibility
A firm keeps control of its technology and provides high performance
A firm makes its technology open and offers complete compatibility
Based on its product strategies, which of these products has the most potential for high profits in the marketplace?
Apple iPhone 5 (iOS)
HTC Desire 300 (Android)
Nokia Lumia 1520 (Windows)
Sony Xperia Z (Android)
What impact does an open product strategy usually have on a product's profits, when compared to the profits of a product with a controlled strategy?
The profits potential for an open product are usually stable for one year, then suddenly double
The profits potential for an open product are always greatly increased
The profits potential for an open product should increase moderately overtime
The profit potential for an open product will be lower
When a firm opens a technology to others to develop only the complements, which of these is true?
The ability to gain market share is harder
Market share of the technology may increase
This may potentially create greater risks of cannibalization
None of these above are true
{"name":"MIS 302F Final Study Guide Part 1", "url":"https://www.quiz-maker.com/QPREVIEW","txt":"Test your knowledge on key concepts related to management information systems and innovation. This comprehensive quiz covers a range of topics from Moore's Law to the Innovator's Dilemma, ensuring you're well-prepared for your final exam.55 questions covering essential MIS conceptsMultiple choice and checkbox formatsImmediate feedback on your answers","img":"https:/images/course7.png"}
More Quizzes
CS 100 Final Quiz Ch 6
1585
MIS 302F Final Study Guide Part 2
51260
FIS (By: A.Helal)
7738121
Technology Comfort Survey
14761
IT Quiz
26130
LS Crew Quiz
1369
My1of1 - Innovators in History (3-6)
13612
GPS Knowledge Quiz
7471
FILIPINO SCIENTISTS AND INVENTORS: PART 1
941234
ENTREP HANDOUT 14
1585
Second term grade 10 IT
10564
International Business
7495