ACC 270 Study Guide
ACC 270 Study Guide ACC 270
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This 36 page Study Guide was uploaded by Jessie Frank on Saturday February 27, 2016. The Study Guide belongs to ACC 270 at Illinois State University taught by Vishal Midha in Spring 2016. Since its upload, it has received 23 views. For similar materials see Information Systems in Organization in Accounting at Illinois State University.
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Date Created: 02/27/16
ACC 270 Midterm Review Chapter 1 Quizzes _____ is the third most popular social network in the United States and was founded by Catherine Cook. Twitter T/F In his twenties, Tony Hsieh sold LinkExchange to Amazon for over a half a million dollars. False Amazon was started by:Jezz Bezos Who were the founders of YouTube? Steve Chen and Chad Hurley A company uses WebEx, a popular commercial application, to conduct training sessions for its employees who are spread across different countries. This is an example of the impact of technology in the area of _____. Human resources Who started Yahoo!? Jerry Yang and David Filo Technology experts in the area of _____ specialize in technology for competitive advantagstrategy A company uses radio frequency identification (RFID) tags to keep track of its inventory. This is an example of the impact of technology in the area of _____. Operations SEM, SEO, CRM, and personalization systems are all central components of the new _____ toolkit. Marketing _____ was just a sophomore when he began building computers in his dorm room at the University of Texas. His firm would one day claim the top spot among PC manufacturers worldwide.Michael Dell The _____ Act is a piece of U.S. legislation that raises executive and board responsibility and ties criminal penalties to certain accounting and financial violations. SarbanesOxley Rising customer service standards can partly be attributed to the proliferation of _____, social media Page 1 of 4 Tony Hsieh served as CEO of _____, and eventually sold the firm to Amazon for $900 milliZappos Who created the Linux operating system? Linus Torvalds Today’s job seekers are writing résumés with ___ ___ in mind, aware that the first cut is likely made by a database search program, not a human being. Key words Page 2 of 4 Chapter 2 _____ exist when consumers incur an expense to move from one product or service to another. Switching costs Operational effectiveness refers to: performing similar tasks better than rivals Operational effectiveness is usually not enough to yield sustainable competitive advantage because technology can be easily duplicated. Dell, previously the world's number one PC manufacturer, has seen its market share shrink because of rivals copying its value chain and reducing the price advantage it enjoyed over rivals. Dell's present struggles: underscore the importance of continually assessing a firm?s strategic position among changing market conditions. Netscape, which once controlled more than 80 percent of the market share in Web browsers, lost its dominant position when customers migrated to Microsoft's Internet Explorer Web browser, which was easy to install and had no significant differences in terms of usability. This example serves to illustrate that: firms with low switching costs can be easily and rapidly overtaken by strong rivals. Leveraging consumers to promote a product or service is known as _____. Viral marketing Firms that compete on _____ rather than operational differences, have no problem adopting thirdparty ERP software. Product uniqueness Which of the following represents one of the sources of switching costs? Search costs Kathy has access to the internet and is able to search and compare the price and quality of the products she wants to purchase. However, Martin does not have access to the internet and stays in a remote town where he is not able to get such details regarding the product or service he wants to purchase. Such a decision situation where Kathy has more or better knowledge about products or services than Martin is known as _____. Information asymmetry Technological improvements can be copied by rivals, leading to a: profiteroding arms race. Moving first pays off when the time lead is used to create: critical resources for competitive advantage. New entrants to a market must ensure that the value they offer exceeds the incumbents' value in addition to any perceived: customer switching costs Businesses benefit from economies of scale when the cost of an investment can be: spread across increasing units of production. The degree to which complete information is available is known as _____. Price transparency Page 3 of 4 The paths through which products or services get to customers are known as _____Distribution channels Page 4 of 4 Page 1 of 3 Chapter 4 Netflix has used the long tail to its advantage, crafting a business model that creates close ties with film studios. What do film studios stand to gain from these ties with Netflix? A cut of the subscription revenue from every disk sent out by Netflix A low _____ is usually key to a firm's profitability because acquiring a customer is more expensive than keeping one. Churn rate WalMart acquired the video streaming outfit called _____. Vudu At traditional brick and mortar retailers, _____ is the biggest constraint limiting a firm's ability to offer customers what they want when they want it. Shelf space By going public, Netflix encountered stiff competition from firms such as WalMart and Blockbuster. What aspect of Netflix going public lured these firms into the market? Financial disclosure laws revealed the profitability of Netflix?s business model. When firms enjoy economies of scale they: leverage the cost of an investment across increasing units of production. Costs that do not vary according to production volume are called _____. Fixed costs Studios have granted Blockbuster distribution terms that enable it to distribute DVDs the day they release. The objective behind this move is to: cut down the increasing power Netflix has over product distribution. Priceline.com is a company and a commercial website that helps users obtain discount rates for travel related purchases such as airline tickets and hotel stays. The company facilitates the provision of travel services by its suppliers to its customers. People can directly access a complete array of schedules and fares. This process has, to a great extent, eliminated the travel agency as a middle man. This is an example of: disintermediation Why doesn't Cinematch offer a gross average user rating? User tastes are too varied and the gross average rating data is too coarse to offer any value. During Netflix's highgrowth period, the DVDby mail business enjoyed lower marketing costs due to the: wordofmouth publicity generated by its users. _____ refers to removing an organization from a firm's distribution channel. Disintermediation Netflix has attempted to counter rivals with exclusive content by:securing exclusive streaming rights for several popular shows. How is the collaborative filtering software used by Netflix advantageous to the firm? The software has created an enormous data advantage, that is valuable, results yielding, and impossible for newcomers to match. Page 2 of 3 How does Cinematch offer Netflix additional operational advantagesCinematch is linked to warehouses and recommends movies that are likely to be in stock. Page 3 of 3 Page 1 of 6 Chapter 5 _____ is a technique in which computers are designed with many microprocessors that work together, simultaneously, to solve problems. Massively parallel computing Price elasticity refers to the: the measure of the relationship between a change in the quantity demanded of a particular good and a change in its price. _____ refer to the multibillion dollar plants used to manufacture semiconductors. Fabs Based on the author's take on ewaste management, a manager would do well to learn that: disposal and recycling partners must be audited with the same vigor as suppliers and other partners. Moore's Law states that:chip performance per dollar doubles every eighteen months. Which of the following factors is responsible for the possibility of Moore's Law? The distance between pathways inside silicon chips gets smaller with each successive generation. Moore's Law has been in effect since the _____ wave of computing. Second Which of the following sets of interrelated forces threatens to slow down the progression of Moore's Law? Size, heat, and power The third wave of computing was characterized by the introduction of: personal computers. Ewaste is particularly difficult to address because ofthe complexity of the modern value chain. Which of the following statements regarding the current electronic waste scenario is true?Electronic waste increases with the rise of living standards worldwide. Which of the following is true about the IBM supercomputer, Watson? A physician assistant Watson could leverage massive diagnosis databases, surfacing a best guess at what docs should be paying attention to. One of the implications of the price elasticity of technology products is that:customers buy more products as they become cheaper. Solid state components are less likely to fail because they: have no moving parts. _____ is a variation of chip design, where signals are sent via light rather than electricity. Optical computing Page 2 of 6 Page 3 of 6 Page 1 of 7 Chapter 6 Which of the following is true of Amazon’s warehousing process? When stacking shelves in its warehouses, Amazon ensures that no two similar products sit next to each other. Amazon’s moves are largely motivated by: customer focus. Which of the following strategies was followed by Amazon’s founder? He postponed profit harvesting. Which of the following products has contributed the most to the profits of Amazon? Kindle The firm’s period between shelling out money and collecting funds associated with a given operation is referred to as the _____.cash conversion cycle Mark, a retailer, is unable to sell his products. He doesn’t have sufficient cash to meet his ongoing expenses. In this scenario, Mark is facing a(n) _____. liquidity problem Which of the following is the most liquid asset? Cash Initially, it was suggested that Amazon.com be renamed to Amazon.org because: it was predicted that the company would never make money. What does the statement “Inventory turns of a store is high.” mean? Merchandise in the store sell quickly _____ is the founder of Amazon. Jeff Bezos A(n) _____ is a line of identifying text, assigned and retrieved by a given web server, and stored by your browser. Cookie Dynamic pricing: refers to pricing that shifts over time. Inventory turns is: a measure of the number of times inventory is sold or used in a time period such as a year Amazon finds a competitive advantage in: the cycle of buyerseller growth. The three pillars of Amazon’s business are: large selection, convenience, and lower prices. Page 2 of 7 Page 3 of 7 Page 1 of 4 Chapter 7 Which of the following products or services is not subject to network effects? Laundry services A(n) _____ is a product that allows a firm to tap into the complementary products, data, or user base of another product or service. Adaptor Worldwide auction leader eBay started operations in Japan just five months after Yahoo! launched its Japanese auction service. But eBay was never able to mount a credible threat and ended up pulling out of the market. This example shows that: it’s imperative to move first in markets influenced by network effects. Profitability of online auctions is derived mainly from selling:differentiated goods. American Express, a credit card firm, provides services to consumers that include plastic cards, individual accounts, and phonebased customer service. It also provides merchants with services, such as terminals for authorizing transactions and procedures for submitting charges. Based on the above facts, American Express is said to be in a _____ market. twosided Nokia is a cell phone brand that offers digital cameras as part of its cell phone products. It is now in direct competition with camera brands such as Canon and Sony, and has become the world's largest seller of cameras. This is an example of: envelopment Adobe gives away the Acrobat reader to build a market for the sale of software that creates Acrobat files. This is an example of: firms giving away products for half of a twosided market to seed the market. If 'V' represents the value of a network and 'n,' the number of users of a network, then Metcalfe's Law is defined by the equation:V=n2 Staying power refers to the: The ability of a person or entity to endure for a long period of time, even through rough times or situations. Apple, which controls over 75 percent of digital music sales, was able to dictate song pricing for years, despite the tremendous protests of the record labels. This implies that: firms with strong network effects enjoy substantial bargaining power over partners. _____ occur(s) when increasing number of users lower the value of a product or service. Congestion effects Network effects occur when: the value of a product or service increases as its number of users expands. Which of the following factors represents one of the sources of value derived from network effects? Staying power Page 2 of 4 Customers who owned Nintendo's 8bit video game console were unable to play the same games on the firm's new 16bit S.N.E.S. system. There was little incentive for existing Nintendo fans to stick with the firm. In this case, Nintendo's new offering suffered from a lack of: backward compatibility. The video game console market is a network market in which Sony's PlayStation 2 (PS2) dominated over Microsoft's Xbox offering. This has been possible due to: game developers favoring PS2 for its larger user base. Page 3 of 4 Page 4 of 4 Page 1 of 5 Chapter 8 Page 2 of 5 Page 3 of 5 ACC 270 Vishal
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