King MIS test 1

Gartner Hype Cycle

Represents the position of a product during its life cycle of publicity or "hype"

5 stages of hype cycle

1. Emerging innovation

2. Inflated expectations

3. Trough of disillusionment

4. Slope of enlightenment

5. Plateau of productivity

Sustainable competitive advantage

Financial performance that consistently outperforms their industry peers

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- milk, orange juice. The more commoditized an offering, the greater the likelihood that competition will be based on price

Fast follower problem

Exists when savvy rivals watch a pioneer's 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

Strategic positioning

Performing different tasks than rivals, or the same tasks in a different way

Resource based view of competitive advantage

The strategic thinking approach suggesting that if a firm is to maintain sustainable competitive advantage, it must control an exploitable resource or set of resources that have 4 critical characteristics. Valuable, Rare, imperfectly imitable, and non-substitutable

Value chain

The set of activities through which a product or service is created and delivered to customers

Imitation resistant value chain

A way of doing business that competitors struggle to replicate and that frequently involves technology in a key enabling role

SCM (supply chain management)

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

CRM (customer relationship management)

Systems used to support customer-related sales and marketing activities

ERP (enterprise resource planning)

A software package that integrates the many functions of a business (accounting, finance, HR)

5 parts of the value chain

1. Inbound logistics

2. Operations

3. Outbound logistics

4. Marketing and sales

5. Service

Network effects

When the value of a product or service increases as the number of users

increase.

• among the most important reasons you'll pick a product or service over another.

• (eBay, uber)

Switching costs

The cost a customer incurs when moving from one product to another. It can involve actual money spent as well as investment in time, any data loss, ETC

Porters 5 forces

A framework considering the interplay between 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 and 5. the bargaining power of suppliers

Data asset

Competitive advantage related to data which the firm can leverage, and which rivals are not able to match

Brand

The symbolic embodiment of all the information connected with a product or service

RFID

Small chip-based tags that wirelessly emit a unique code for the item that they are attached to. Next-generation bar code

Greige

Goods to be further customized based on designer/manager collaboration

A/B testing

A randomized group of experiments used to collect data and compare performance among two options studied. Often used in refining the design of technology products. Easy to run on a firm's website.

POS (point of sale)

A transaction processing system that captures customer purchases. Cash register and store checkout systems are examples of this.

Vertical integration

When a single firm owns several layers in its value chain

Showrooming

The concept where customers browse at physical retailers, but purchase products from lower-cost online rivals

De minimis

The provision of the U.S. Trade facilitation and Trade enforcement act onle assesses imports valued above $800.

Unicorn

Startups valued at $1 billion or more

Moore's law

Computers double in smartness while double decline in price. 2x smarter and 2x cheaper every 2 years

Microprocessor

The part of the computer that executes the instructions of a computer program

CPU (central processing unit)

Brain of a computer

Semiconductor

A substance such as a silicon dioxide used inside most computer chips that is capable of enabling as well as inhibiting the flow of electricity. Mainly talking about computer chips

Solid state electronics

Semiconductor-based devices. Have less failures and require less energy than mechanical counterparts because they have no moving parts. RAM, flash memory, and microprocessors

RAM (random-access memory)

The fast, chip-based volatile storage in a computing device

Flash memory

Nonvolatile, chip-based storage, often used in mobile phones, cameras. Slower than conventional RAM but holds charge when power goes out.

Multicore Microprocessor

Microprocessors with two or more (typically lower power) calculating processor cores on the same price of silicon

Latency

Delay, especially discussing networking and data transfer speeds

• low latency = faster

Super computers

Much more powerful and faster than regular computers

Massively parallel

Computers designed with many microprocessors that work together to solve problems

Grid computing

A type of computing that uses special software to enable several, often idle computers to work together on common problem, as if they were a massively parallel supercomputer

Cluster computing

Connecting server computers via software and networking so that their resources cna be used to collectively solve computing tasks

SaaS

Form of cloud computing where a firm subscribes to a third-party software and receives a service that is delivered online

Cloud computing

Replacing computing resources with services provided over the internet

Server farms

A massive network of computer servers running software to coordinate their collective use. They provide infrastructure backbone to SaaS and hardware cloud efforts.

E-waste

Discarded, often obsolete technology; also known as electronic waste

Bitcoin

An open source, decentralized payment system that operate in a peer-to-peer environment, without bank or central authority

Cryptocurrency

A digital asset where a secure form of mathematics is used to handle transactions, control the creation of additional units, and verify the transfer of assets. Take advantage of blockchain

Blockchain

A distributed and decentralized ledger that records and verifies transactions and ownership, making it difficult to tamper with or shut down

Long tail

Extremely large selection of content or products (amazon)

Collaborative filtering

A classification of software that monitors trends among customers and uses this data to personalize an individual customer's experience

Churn rate

The rate at which consumers leave a product or service

Transfer pricing

The price paid when divisions of the same company transact with each other

Decision fatigue

A phenomenon where consumers avoid selection decisions with an overwhelming number of choices

Congestion effect

When increasing numbers of users lower the value of a product or service

Digital twin of customer

overview: digital representation that uses customer data, analytics, and AI to model preferences, behaviors, and likely responses. The model can change as it collects new customer information.

ethics: privacy, consent, manipulation, accuracy, bias, security

current: Personalized product and content recommendations/Targeted marketing and advertising

Augmented Connected Workforce

overview: workforce enhanced through AI, automation, IoT, cloud computing, and

collaboration technologies.

current: copilot, AI call center bots

ethics: privacy, job displacement

Humanoid working robots

Robots designed in a human-like form to perform tasks in environments made for humans

current: manufacturing & warehouses, research, moving stuff

future: disaster response, household assistance, construction

ethics: job displacement, privacy,

Cognitive offloading

overview: using external tools or actions to reduce the mental effort needed to complete a task

current: gps, chatGTP, grammarly

ethical: overly dependent, lack of learning and privacy

Programmable money

overview: Digital cash that automatically follows rules without needing a bank to approve it →Works like a digital vending machine: when a rule is met, the money transfers instantly.

current: parking meters

ethical: privacy, code bugs

spatial computing

overview: Technology that places digital content intoyour physical space. Sensors (LiDAR, depthcameras, eye and hand tracking) map the room,and AI keeps virtual objects anchored in place.

current: aerospace

ethical: protections, eye tracking