MIS Exam 1 Study Guide 2

MIS Exam 1 Study Guide 2 - Detailed Study Guide Class #01:...

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Class #01: Introduction to MIS301 Questions and Exercises: What is the major difference between an IT course and an IT management course such as MIS301? An IT class may focus on the technical aspects of information technology. An IT management class will focus on the business implications of information technology. Class #02: Strategy and Competitive Advantage Terms: Strategy- a word of military origin, refers to a plan of action designed to achieve a particular goal. Porter’s Competitive Strategy- Competitive strategy is about being different . It means deliberately choosing a different set of activities to deliver a unique mix of value. Operational Effectiveness- Performing the same tasks better than rivals perform them. Strategic Positioning- Performing different tasks than rivals, or the same tasks in a different way. Straddling- Attempts to occupy more than one position, while failing to match the benefits of a more efficient, singularly focused rival. 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. Porter’s Value Chain Model- The “set of activities through which a product or service is created and delivered to customers. Sustainable Competitive Advantage- Financial performance that consistently outperforms industry averages. Resource-based View- 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 four critical characteristics. These resources must be (1) valuable, (2) rare, (3) imperfectly imitable, and (4) nonsubstitutable. Questions and Exercises: How is operational effectiveness different from strategic positioning? OP- is doing the same task better than the rivals, and SP- is doing different tasks than rivals or the same task in different ways. Why is it hard for companies to be successful by straddling different positions? The company might have an inconsistent image, incompatible activities, and/or limits on internal coordination Why is competitive advantage derived from operational effectiveness hard to sustain? Because of technology/best practice diffusion and fast follower problem What are the four characteristics of a resource that might possibly yield sustainable competitive advantage? 1. Valuable 2. Rare 3. Imperfectly imitable (tough to imitate) 4. Nonsubstitutable Define and diagram Porter’s value chain model. What are the primary functions and support functions? The value chain breaks functions down into primary and support functions. Primary functions touch the product, support functions do not. 1
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This note was uploaded on 11/16/2011 for the course MIS 309 taught by Professor Du during the Spring '11 term at University of Texas at Austin.

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MIS Exam 1 Study Guide 2 - Detailed Study Guide Class #01:...

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