IDSC Test A

  1. market capitalizations/cap
    the total value of a publicly traded firm - can be calculated by multiplying the number of a firm's shares by its current share price
  2. R&D (research & development)
    the portion of a firm focused on innovation, typically pioneering advances that will eventually arrive as new products and technologies
  3. microprocessors
    the part of the computer that executes the instructions of a computer program
  4. server farms
    a massive network of computer servers running software to coordinate their collective use - they provide the infrastructure backbone to SaaS and hardware cloud efforts, as well as many large-scale Internet services
  5. sustainable competitive advantage
    financial performance that consistently outperforms industry averages
  6. operational effectiveness
    performing the same tasks better than rivals perform them
  7. commodity
    a basic good that can be interchanged with nearly identical offerings by others
  8. 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
  9. augmented-reality
    a technology that superimposes content, such as images and animation, on top of real-world images
  10. strategic positioning
    performing different tasks than rivals, or the same tasks in a different way
  11. 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 four critical characteristics (valuable, rare, imperfectly imitable, nonsubstitutable)
  12. dense wave division multiplexing (DWDM)
    a technology that increases the transmission capacity (and hence speed) of fiber-optic cable - transmissions using fiber are accomplished by transmitting light inside 'glass' cables - in DWDM, the light inside fiber is split into different wavelengths in a way similar to how a prism splits light into different colors
  13. imitation-resistant value chain
    a way of doing business that competitors struggle to replicate and that frequently involves technology in a key enabling role
  14. value chain
    the set of activities through which a product or service is created and delivered to customers
  15. straddled
    in strategic management, this refers to a firm's attempt to occupy more than one position, while failing to match the benefits of a more efficient, singularly focused rival
  16. brand
    the symbolic embodiment of all the information connected with a product or service
  17. viral marketing
    leveraging consumers to promote a product or service
  18. scale advantages
    advantages related to size
  19. economies of scale
    when costs can be spread across increasing units of production or in serving multiple customers - businesses that have favorable economies of scale (like many Internet firms) are sometimes referred to as being highly scalable
  20. switching costs
    the cost a consumer incurs when moving from one product to another - it can involve actual money spent (e.g. buying a new product) as well as investments in time, any data loss, and so forth
  21. network effects/Metcalfe's Law/network externalities
    when the value of a product or service increases as its number of users expands
  22. distribution channels
    the path through which products or services get to customers
  23. bundling
    selling products available separately as a single package - can be especially effective when a software product or service is included with a hardware product - can also be tricky as it can raise a risk of unfair competitive practices, especially if a firm has a monopoly or otherwise large amount of market control
  24. APIs (application programming interfaces)
    programming hooks or guidelines published by firms that tell other programs how to get a service to perform a task such as send or receive data - for example, Amazon provides these to let developers write their own applications and websites that can send the firm orders
  25. affiliates
    third parties that promote a product or service, typically in exchange for a cut of any sales
  26. non-practicing entities (NPEs)/patent trolls
    these firms make money by acquiring and asserting patents rather than bringing products and services to market
  27. Porter's five forces/Industry and Competitive Analysis
    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
  28. price transparency
    the degree to which complete information is available
  29. information asymmetry
    a decision situation where one party has more or better information than its counterparty
  30. digital transformation
    Improved Data Management, the Internet of Things, and AI created this business revolution
  31. Internet of Things
    low cost sensors processors and communication are embedded in a wide array of products and our environment
  32. patents
    US law that provides some protection from copycats attempting to identically mimic products and methods
  33. Moore’s Law
    chip performance per dollar doubles every 18 months
  34. unstructured data
    sensor data and video are examples of this type of data
  35. strategy
    a set of decisions made to achieve competitive advantage
  36. competitive advantage
    the ability of a firm to outperform its competitors in financial measures
  37. five components of the value chain
    inbound logistics, operations, outbound logistics, marketing and sales, support
  38. secondary elements of the value chain
    firm infrastructure, human resource management, technology/research development, procurement
  39. five domains of digital transformation
    customers, competition, data, innovation, value
Author
gabeernst
ID
365765
Card Set
IDSC Test A
Description
Updated