Exam 1 - a b c a b c a b a b a b c a b c a b c a b MIS 301...

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MIS 301 Study Guide for Exam One Tech Enabled Transformation / Disruptive Technologies (Chapter 5 and 6 and course slides for this module and also Introduction to MIS) 1. What is the definition of Moore’s Law? What does it apply to? What about storage? a. Moore’s Law- Chip performance per dollar doubles every eighteen months. b. Applies to chips – broadly speaking, to processes and chip-based storage c. Faster & cheaper 2. Understand the impacts of Moore’s Law. a. Price elasticity b. Buy more when products become cheaper c. Opens up new markets 3. What are the two characteristics of disruptive technologies? a. First, they come to the market with a set of performance attributes that existing customers don’t value. b. Second, over time the performance attributes improve to the point where they invade established markets. 4. Be able to provide examples of disruptive technologies. a. Digital cameras (vs film cameras) b. Tablets (vs laptops) 5. Understand Kodak’s issues and challenges in adopting disruptive technologies. a. Make up of company- mostly chemical engineers with little experience in digital world b. Digital cameras didn't have the same revenue model as the film camera. c. Cultural lock - in (strong beliefs in cultures and value system) rely on status-quo 6. Know the three main reasons big firms fail. 7. Understand how a firm can recognize potentially disruptive innovations. a. Paying attention to the trajectory of fast/cheap technology advancement and new and emerging technologies b. Seeing the future involves removing short-sighted, customer-focused, and bottom-line-obsessed blinders c. Having conversations with those on the experimental edge of advancements is key 8. Know about the strategies that a firm can apply once a disruptive innovations are identified. a. Build a portfolio of options on emerging technologies, investing in firms, start-ups,or internal efforts b. It’s also important that these experimental efforts are nurtured in a way that is sufficiently separate from the parent—geographical distance helps, and it’s critical to offer staff working on the innovation a high degree of autonomy 9. What is Internet of Things?
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a. A version 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 CAST and RAS (Posted article on canvas and course slides) 1. What is complex adaptive system?
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