MIS_446_Exam_3_Study_Chart - Economic Models: How do we...

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Economic Models: How do we make money on this? Stockholder Analysis: Who benefits and who loses? Impact of Intangibility: It’s a Digital / Intangible good; so what? Knowledge of Economies: How does this relate to business / economic strategies? Usability - People put a high premium on usability. The iPhone is extremely popular despite the fact that it does far less than many other phones because it is user-friendly - This relates to the innovator ’s dilemma you can differentiate on usability if you can ’t differentiate by adding more features - If most of the products in a given industry aren ’t user -friendly, any company that introduces a user- friendly product is likely to do very well - Users win when competitive pressures force companies to release better-designed products - It s easy to add features to an information good the hard part is making it easy for users to interact with - Features and capabilities are table stakes, and successful products draw rapid competition. If people can ’t use your product, they’ll swap it for another one. - A product that ’s user-friendly to use will draw customers away from the competition, even if other products are better - This is true for both physical goods (phones, chairs, pens) and information goods (Windows vs. Mac, MS Office vs. Open Office, iPhone OS vs. Verizon phone OS) Information Security - Security is always evolving; constant innovation is required to keep people out. - Companies must keep ahead of
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MIS_446_Exam_3_Study_Chart - Economic Models: How do we...

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