Term
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Definition
| Moore's law is the observation that, over the history of computing hardware, the number of transistors on integrated circuits doubles approximately every two years. |
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Term
| What is the result of Moore’s Law? |
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Definition
| Moore’s Law creates infinite opportunities for innovation. |
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Term
| What type of skills are outsourced? |
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Definition
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Term
| What are abstract reasoning skills? |
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Definition
| Construct a model or representation. the ability to analyze information and solve complex problems |
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Term
| What is systems thinking? |
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Definition
| Model system components and see how components inputs and outputs relate to one another. |
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Term
| What are collaboration skills? |
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Definition
| Develop plans and ideas with others and provide critical feedback. |
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Term
| What are the five components of an Information System? |
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Definition
| Hardware, Software, Data, Procedures, People |
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Term
| Problems retraining employees. |
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Definition
| People are resistant to change. |
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Term
| What is Microsoft SharePoint? |
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Definition
| SharePoint has historically been associated with intranet, content management and document management |
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Term
| What tools are good for asynchronous communication? |
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Definition
| Email, blogs, cloud, etc. |
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Term
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Definition
| the ability to assign permissions to any e-mail, calendar or exchange resource and have another exchange user view it |
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Term
| What are the project management phases? |
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Definition
| Starting, planning, doing, and finalizing. |
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Term
| What are Operational decisions? |
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Definition
| Structured decisions used by managers at lower levels that involve day to day operations. |
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Term
| What are strategic decisions? |
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Definition
| Executive decisions that are unstructured and have broad sweeping effects. These usually require lots of collaboration. |
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Term
| What do managerial decisions concern? |
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Definition
| Raw materials and resources allocation. |
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Term
| What is the primary criterion for judging team success? |
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Definition
| Successful outcome, growth of team, meaningful and satisfying experience. |
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Term
| What traits should an effective collaborator have? |
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Definition
| Enthusiastic, open minded, speaks their mind, timely, will enter difficult conversations, listener |
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Term
| Employee communications (receiving feedback)? |
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Definition
| Be specific, offer suggestions, avoid personal comments, strive for balance, question emotions, don’t dominate, and demonstrate commitment to the group. |
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Term
| Collaboration/cooperation? |
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Definition
| Collaboration is two or more people working together to achieve a common goal. Cooperation lacks feedback and iteration. |
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Term
| What is Porter’s Five-Forces Model used to assess? |
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Definition
| Intensity of five forces determines industry competitive characteristics, how profitable it is, and how sustainable profitability will be. |
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Term
| What type of firm is least affected by threat of substitutes? |
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Definition
| One that is uniquely different such as a cancer medication. |
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Term
| What are Porter’s Five Forces and what do they represent? |
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Definition
| Bargaining power of customers, threat of substitution, bargaining power of suppliers, threat of new entrants, and rivalry. |
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Term
| What are Porter’s four competitive strategies? |
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Definition
| Focus, Industry-Wide, Cost, Differentiation |
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Term
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Definition
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Term
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Definition
| Monetary worth of something. |
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Term
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Definition
| Difference between total value and cost incurred. |
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Term
| What are value chain activities? |
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Definition
| Activities that add value. |
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Term
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Definition
| When one activity affects another and costs are connected. |
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Term
| What is the positive side of locking in suppliers? |
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Definition
| There are several such as knowing you’ll have your resources at a set price for a set amount of time. Cost control. |
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Term
| What does reduction in production cost result in? |
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Definition
| Higher profits, greater margins. |
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Term
| What are the five characteristics of good information? |
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Definition
| Relevant, complete, accurate, current, economical. |
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Term
| Distinguish between cooperation and collaboration. |
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Definition
| Collaboration involves agencies coming together and fundamentally changing their individual approaches to a goal to allow for the sharing of resources and responsibilities. Cooperation is an informal arrangement in which the individual agencies or stakeholders maintain their separate mandates and responsibilities, but do some work together to meet a common goal. |
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Term
| Explain Porter’s five forces model. |
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Definition
| Frequently used to identify an industry's structure in order to determine corporate strategy, Porter's model can be applied to any segment of the economy to search for profitability and attractiveness. |
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