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MISC
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Information Systems
Date
Feb 20, 2024
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MIS Chapter 1
David Karp, founder of the website Tumblr, sold the website to Google for $1.1 Billion
False Experts working in the area of _____ work to make sure systems are easy to use, while people working in
the area of _____ work to leverage technology to make firms more efficient.
user-interface design; process design
Amazon was started by:
Jeff Bezos A recent report in Forbes suggests that what percent of firms are failing at digital transformation?
72%
Another reason fueling the boom in fast-growing technology services is ___________________, which, when done right, can virally spread awareness of a firm with nary a dime of conventional ad spending.
App Stores
Data analytics and business intelligence are driving discovery and innovation.
True Crowdsourcing tools and question-and-answer sites like _____ allow firms to reach out for expertise beyond their organizations.
Quora
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 Facebook was founded by Sergey Brin.
False
Apple’s growing business of consumer services bring in so much revenue that if they were a separate division from Apple, they would be ranked as a Fortune 100 firm.
True MIS Chapter 2
A(n) _____ is the symbolic embodiment of all the information connected with a product or service.
brand
According to Porter, strategy is fundamentally about being _____
different
A trademark is the symbolic embodiment of all the information connected with a product or service of a firm.
False
A firm's financial performance that consistently outperforms its industry's peers is known as operational effectiveness.
False
A firm is said to be _____ when it attempts to match the benefits of a successful position while maintaining its existing position.
Straddling
A firm can benefit from high switching costs, even when rivals offer free products.
True
A firm's financial performance that consistently outperforms its industry's peers is known as _____.
sustainable competitive advantage
According to Michael Porter, the reason many firms suffer margin-eroding competition is because they have defined themselves according to strategic positioning rather than operational effectiveness.
False
A strong brand can be an exceptionally powerful resource for competitive advantage by lowering ________, proxying _____ and inspiring _____.
search costs; quality; trust
A salesperson's ability to effectively bargain with his/her consumers is called viral marketing.
False
MIS Chapter 3
FreshDirect opted for customer-focused error handling because
it was less expensive than losing a lifetime of orders from the customer.
FreshDirect lost ___ percent market share of the New York grocer market after the move to the larger facility.
20
As an essential service during the pandemic, FreshDirect met the growing demands by
limiting variety, working with the boroughs to address food insecurity, and adding jobs.
Entry into the online grocery market can be costly for FreshDirect competitors because
it would be challenging to obtain a distribution facility in the same area.
CEO and co-founder Dave McInerney’s main goal of launching FreshDirect was to
address the quality gap between store-bought and restaurant goods.
After the move to the new facility, FreshDirect switched ___ percent of the orders from the old system to the new.
100
Early attempts at the online grocery business were unsuccessful because
consumers were fine with the conventional way of shopping.
A major threat to the FreshDirect model is:
potential entry of better funded, growth-seeking rivals
At the start of the pandemic, FreshDirect saw an increase in online orders. Website traffic increased by _______ percent.
800
FreshDirect regained customer trust by:
addressing the problem head on and correcting errors as quickly as possible
MIS Chapter 4
High-end fashion house Prada's experiment of implementing the latest technology in its flagship store failed because:
The execution of the technological advancements was poor and didn't work well during customer interactions, so managers and staff stopped using it.
Contract manufacturers used by the apparel industry are often criticized because:
of poor working conditions.
A value chain is a set of:
activities through which a product or service is created and delivered to customers.
Goods to be further customized based on designer/manager collaboration are called greige.
True
Due to limited production runs, Zara's customers:
visit the stores more often.
Elaborate customer surveys help Zara designers predict fashion trends months into the future and design products accordingly.
False
At Zara, clothes are ironed in advance and packed on hangers, with security and price tags affixed. This system means that employees in Zara stores simply move items from shipping box to store racks, spending most of their time on:
value-added functions like helping customers find what they want.
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According to an independent study, Zara books some 85 percent of its products at full price compared to the industry average markdown ratio of 50 percent. This is made possible by:
the practice of having limited production runs of its designs.
Factors such as weather, natural disaster, terrorism, labor strife, or political unrest can shut down a firm's operations. Which of the following is one of the measures taken by firms to hedge such risks?
Spreading productions facilities across the globe
An information system consists of hardware, software, data, procedures, and the people who interact with and are impacted by the system.
True
MIS Chapter 6
Moore's Law has impacted the camera industry such that the firms that sell the most cameras aren't camera companies, but phone manufacturers.
True
The managerial definition of Moore's Law suggests that computing costs related to chips (microprocessors and silicon-based storage) double every eighteen months.
False
Moore's Law is possible because the distance between the pathways inside silicon chips gets smaller with each successive generation.
True
A Microprocessor is a fast chip-based volatile storage in a computing system.
False
Based on the author's take on e-waste 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.
Managers looking for advice on properly dealing with obsolete technology hardware can:
consult the e-Stewards program
seek advice from the International Association of Electronics Recyclers
look for partners with ISO 9001 and ISO 14001 certifications
investigate resources provided by the Basel Action Network
all of the above
Moore's Law applies to all types of technology components including hard drives and fiber optic cable transmission speeds.
False
The United States has the best environmental legislation to cover e-waste and recycling standards.
False
E-waste is particularly difficult to address because of:
the complexity of the modern value chain.
E-waste management is extraordinarily difficult to monitor and track, and loopholes are rampant.
True
Mis Chapter 16
Advantages based on capabilities and data that others can acquire are long-lived.
False
An early version of the “Einstein” AI model being developed at Salesforce identified the top predictor of a sales opportunity was if a client
had the name "John."
Computer-driven investment models can be very effective when the market behaves as it has in the past. However, in terms of historical consistency, they are vulnerable to failure in the face of
black swans.
A(n) _ refers to a heads-up display of critical indicators that allow managers to get a graphical glance at key performance metrics.
dashboard
Data becomes _ when it is presented in a context so that it can answer a question or support decision-
making.
information
A(n) _ is an AI system that examines data and hunts down and exposes patterns, in order to build models to exploit findings.
neural network
Any data-centric effort should involve input not only from business and technical staff, but from the firm's legal team, as well.
True
A data cube refers to a
special database used to store data in OLAP reporting.
AI systems may reveal biases in processes and workforce that firms aren’t even aware exist.
True
A _ is a system that provides rewards and usage incentives, typically in exchange for a method that provides a more detailed tracking and recording of consumer activity.
loyalty program
HW Chapter 1
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
According to the chapter, which statements apply to Palmer Luckey's founding of Oculus?
The firm was acquired by Facebook.
He raised money to build his product using a Kickstarter campaign.
In two decades, ___________'s tech sector has grown from almost nothing to a $200 billion industry.
India
Many firms are offering six-figure starting salaries to graduating seniors from top universities because
there is a high demand for scarce technical talent.
According to Harvard Business Review, “Leading a digital transformation? Learn to __________." Code
A report in Forbes suggests that what percent of firms are failing at digital transformation?
72%
Issues in intellectual property, privacy, and piracy are increasingly important to firms, but were also cited in this chapter as especially relevant to creating new opportunities for students who study technology in conjunction with __________.
Law
Amazon was started by _____
Jeff Bezos
Crowdsourcing tools and question-and-answer sites, such as _____, allow firms to reach out for expertise beyond their organizations.
Quora
Kevin Systrom was twenty-six when he founded the service ___________.
Instagram
HW Chapter 2
Network effects earned OpenTable the position of world's largest online restaurant reservation system because
they made the restaurant reservation market more efficient.
Firms like Blockbuster, Sotheby's, and Barnes & Noble were put at risk by operating under the following platitude: Follow, don't lead.
According to the text, platitudes such as __________ can put firms dangerously at risk.
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“follow, don't lead”
One of the most popular frameworks for examining a firm’s competitive environment is Porter’s __________ forces.
Five
How did Apple overcome Google as the dominant mapping platform on iOS?
Apple’s control of iOS gave it control of the distribution channel to reach its users, kicking Google out as the default mapping app and capturing the majority of user engagement.
In the crowded market space of 175 mattress firms, CNBC's report that "you can't tell them apart" reinforces the idea that similar offerings become Commoditized
Apple successfully leveraged their _________ to become the industry leader in all retail chain categories in the United States.
Distribution Channels
According to the text, Amazon, along with many other firms that have risen during the digital age, has a highly __________ cost structure when compared to traditional rivals.
Scalable
Michael Porter says that the reason many firms suffer margin-eroding competition is because they have defined themselves according to operational effectiveness rather than __________.
Strategic Positioning
An approach known as the __________ view of competitive advantage shows that if a firm is to maintain sustainable competitive advantage, it must control a set of exploitable resources with four critical characteristics. These resources must be (1) valuable, (2) rare, (3) imperfectly imitable, and (4) nonsubstitutable.
Resource-based
HW Chapter 3
Fresh Direct's business model helped them outperform traditional rivals because they leveraged the power
of
Data
FreshDirect gives suppliers the opportunity to offer ____________ shelf-constrained grocers.
More products than
FreshDirect's ___________ gives them a competitive advantage related to data which their rivals cannot match.
Data Asset
FreshDirect could have minimized the challenges experienced after the move from Queens to the Bronx by
phasing the rollout, ramping up the system, and having a fallback if the rollout failed.
An online grocery start-up specializing in fresh produce is searching for a warehouse location and service area. They must factor in product-market fit when selecting the location for the distribution warehouse and customer service area. As a member of the strategy team, which location would you recommend?
Densely populated city with few grocery stores
A successful product which fits the immediate need or desire of target customers has __________.
Product-market fit
A new rival in the online grocery business might face barriers competing with FreshDirect because
FreshDirect’s data, collected from individual customers over time, creates a strong competitive advantage.
Attempting to occupy more than one position while failing to match the benefits of a more efficient, singularly focused rival is known as ____________.
Straddling
FreshDirect CEO and co-founder David McInerney's main goal in launching the firm was to
address the quality gap between store-bought produce and the goods that restaurants were using.
FreshDirect monitors website and app use to provide customers
A personalized experience
HW Chapter 4
A retail approach that offers consumers an integrated and complementary set of shop, sales, and return experiences is known as ____________. Omnichannel
It is ____________ that helps Zara identify and manufacture the clothes customers want, gets those products to market quickly, and eliminates costs related to advertising, inventory missteps, and markdowns. Technology
Having the wrong items in its stores hobbled ____________ for roughly a decade.
Gap
Many firms have developed and deployed innovative information systems, only to see these systems go unused by key staff members. How has Zara helped ensure its systems will be used by staff?
System use drives store success and as much as 70 percent of salaries are tied to sales performance.
In an industry where nearly every major player outsources manufacturing to low-cost countries, Zara is highly __________, keeping huge swaths of its production process in-house.
Vertically Integrated
In retail, generally, and in the fashion industry, particularly, having ____________ is considered the kiss of death.
Excess inventory
Contract manufacturers used by the apparel industry are often criticized because:
of poor working conditions.
Nearly ____________ % of Zara’s merchandise is produced in-house.
60
Factors such as weather, natural disaster, terrorism, labor strife, and political unrest can shut down a firm’s operations. Which of the following is one of the measures taken by firms to hedge such risks?
spreading production facilities across the globe
Having too much ____________ in the retail apparel industry is the kiss of death.
Inventory
HW Chapter 6
Chip-based memory is also called RAM, which stands for __________ access memory.
Random
Moore’s Law is often cited in the press as the principal that:
chip performance per dollar doubles every eighteen months.
Discarded, obsolete technology is known as e-__________.
Waste
Storage that is wiped clean when power is cut off from a device is known as _____.
Volatile memory
The evolution caused by Moore's Law is demonstrated by the __________ , which originally sold for nearly $400 but now sells for one-fifth of that price.
Kindle
Which factor is responsible for enabling the advance of Moore’s Law?
The distance between pathways inside silicon chips gets smaller with each successive generation.
Advances related to increasing hard drive storage relative to cost are often referred to as __________ 's Law.
Kryder
Moore's Law is
a prediction based on past observations.
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Select the two choices that complete the sentence. Moore's Law often is used to refer to computing that is __________ and __________.
Faster and cheaper
E-waste is particularly difficult to address because of:
the complexity of the modern value chain.
Hw Chapter 16
Knowledge is defined as:
the insight derived from experience and expertise
AI education is made up of nearly __________ female professors and ___________ female undergraduate students.
20%, 25%
Firms that collect and resell data are known as _____. Data agitators
If a customer pays a retailer in cash, he is likely to remain a mystery to the retailer because his name is not attached to the money. Retailers can tie the customer to cash transactions and track the customer’s activity if they can convince the customer to use a _____.
Loyalty Card
In database systems, a table is also known as a ____________. file
Data is oftentimes considered a defensible source of competitive advantage; however, advantages based on capabilities and data that others can acquire will be ____________.
Short lived
In database systems, a _____ refers to a list of data.
File
Despite its success, Walmart is a mature business that needs to do which of the following to boost profits and continue to move its stock price higher? Select all that apply.
find dramatic cost savings
find huge markets
Data becomes ____________ when it is presented in a context so that it can answer a question or support decision-making.
Information
A ____________ is a system that provides rewards and usage incentives, typically in exchange for a method that provides a more detailed tracking and recording of consumer activity.
Loyalty card
Excel 1
Which one of the following combinations would allow you to view formulas as they were typed into a worksheet as opposed to the formula outputs?
Click the Show Formulas button in the Formulas tab of the Ribbon.
Which of the following is a common mathematical operator used in Excel formulas?
*
When you open a new workbook it could contain multiple worksheets with cells, rows, and columns.
True
Which of the following is a feature of Excel for range formatting?
Applying a custom number format to display values in a specific way, such as adding commas to large numbers.
The following was entered into an Excel worksheet: =SUM(A7:A17). Which of the following is true with
this entry?
The values in cell A7 and all cells up to and including A17 will be summed.
What is the file extension for an Excel workbook in the latest version of Microsoft Excel?
.
xlsx
If a column is too narrow for the data in it, numbers will appear as what type of string?
###
Which of the following is a valid cell reference in Excel?
A$1
Which Excel feature is used to combine multiple cells into a single cell?
Merging
What is the relation between function and formula in Excel?
A function is a pre-built formula that performs specific calculations or operations on data.
What is the primary purpose of the "Filter" feature in Microsoft Excel?
Displaying specific data that meets certain criteria, while hiding the rest.
=B$6/B$10 is an example of what reference type?
Mixed reference
The filter command lets you reorder rows based on the contents of a selected column.
False
An absolute reference is used to turn off relative referencing so that when the formula is copied or to a different location it doesn’t change.
True
A1 is an example of a cell address.
True
Excel 2
Which keyboard command can be used to format data as a table?
COMMAND + T (Mac) / Ctrl + T (Windows)
The criteria for COUNTIF must be a text string.
False
Which Paste Special option pastes just the cell contents without any formatting?
Values
What is the main purpose of the "COUNTIF" function in Excel?
Counting the number of cells within a range that meets a specific condition.
What type of chart is best suited for showing the relationship between two sets of numerical data in Microsoft Excel?
Scatter Chart
Which of the following is a feature of Excel "PasteSpecial"
Transposing the data from rows to columns or vice versa.
Which Excel feature is used to highlight cells based on their values or conditions?
Conditional formatting
Which of the following is a special feature of Excel tables?
Automatic data sorting and filtering capabilities.
What does the "PIE CHART" in Microsoft Excel represent?
The proportion of each data point in a series to the sum of all data points, shown as slices of a circle.
Which type of chart in Microsoft Excel is best suited for displaying trends over time?
Line Chart
What is the correct function to calculate the value of all orders marked COMPLETED?
=SUMIF (D2:D9,"completed",C2:C9)
What is the correct function to mark the order as INTERNATIONAL if the order# is equal or greater than
200.?
=IF(A7>=200,"INTERNATIONAL","DOMESTIC")
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What does the "Sort" feature in Microsoft Excel allow you to do?
Rearrange data in a selected range based on specified criteria, such as alphabetical order or numerical value.
Which of the following formulas is used to calculate the average order amount of a given range of numbers?
=SUM (C2:C9)/COUNT (C2:C9)
What is the primary benefit of using the "Sort" feature in Microsoft Excel?
It organizes data in a specific order, making it easier to analyze and find information.
Excel 3
What do you create when you use one field in the source data for your pivot table row labels and another source field for pivot table column labels?
Cross-tabulation
If you have a single-variable “what if” analysis what is the appropriate Excel tool to use?
Goal Seek
What is the result of the VLOOKUP function in cell C3 when executed?
#N/A
Which of the following is the correct syntax for the VLOOKUP function in Excel?
=VLOOKUP(lookup_value, table_array, column_index, range_lookup)
Which feature allows you to find the input value needed to achieve a specific goal or target for a formula?
Goal Seek
Which Excel function can be used to determine if a cell meets a specified condition and returns one value if true and another value if false?
IF()
What is the main difference between Solver and Goal Seek?
Solver is a tool that can handle complex problems with multiple variables while Goal Seek is a simpler tool that can only find a single input value to achieve a specific target output.
What is the difference between a workbook and worksheet in Excel?
A workbook in Excel is a file that contains multiple worksheets.
What is the main purpose of a Pivot Table?
It enables summarizing and analyzing large datasets by grouping and aggregating data.
What is the main purpose of the SOLVER?
It solves optimization problems by finding the best possible solution based on specified constraints.
If the fourth parameter in a VLOOKUP function is set as FALSE it forces the VLOOKUP to look for an exact match to the lookup value.
True
In Excel, which of the following statements about the VLOOKUP function is correct?
VLOOKUP is used to search for a value in the first column of a range and return a corresponding value from a specified column.
Which Excel feature is used to organize and analyze large amounts of data in a structured format?
Pivot Table
What is the purpose of the "Values" field in a Pivot Table?
It specifies the calculations to be performed on the data, such as sum, average, or count.
Which of the following statements about the VLOOKUP function in Excel is true?
VLOOKUP can only return a value from a column located to the right of the lookup column.
Flashcards Chapter Reading Summaries Chapter 1:
Q: How has technology changed the business landscape?
A: Technology has radically transformed business models, with examples like Uber, Airbnb, and
Facebook, which don't own physical assets but dominate their industries.
Q: What challenges do managers face in adapting to the tech-driven change?
A: Many managers are ill-equipped for digital transformation, with 72 percent of firms struggling to adapt. They must navigate rapidly evolving industries and redefine necessary skills.
Q: How have companies like Google and Apple leveraged technology for success?
A: Google and Apple have become highly profitable by adapting to digital trends. Google, now Alphabet, is the most profitable media company, and Apple's integrated ecosystem and services make it a tech giant.
Q: What role has mobile technology played in business growth?
A: Mobile technology, with 3.8 billion smartphone users worldwide, has accelerated business growth, with rapid user adoption and shifting advertising revenue to digital platforms.
Q: How has social media impacted business and society?
A: Social media, exemplified by Facebook, has immense reach but also ethical challenges. It has influenced global change and facilitated the spread of both positive and negative content.
Q: How has technology influenced commerce, especially during the COVID-19 pandemic?
A: Technology has boosted online ad revenue, led to e-commerce growth, and played a crucial role in vaccine development. However, major tech firms face investigations for their influence and practices.
Q: How have countries like China and India embraced technology?
A: China has become a tech leader with the most Internet users and prominent mobile payments. India has a thriving IT industry, low data rates, and booming e-commerce.
Q: What challenges does the United States face in terms of technology infrastructure?
A: The U.S. lags behind in mobile download performance and fixed broadband compared to other nations, highlighting infrastructure challenges.
Q: How has technology impacted sub-Saharan Africa?
A: Fast/cheap tech has contributed to economic growth, expanded mobile phone usage, and empowered local entrepreneurs. Mobile money and tech innovation are transforming the region.
Q: How has technology influenced manufacturing and transportation?
A: Three-dimensional printers and embedded technology in various products, such as IoT devices, are reshaping manufacturing and enhancing transportation.
Q: How is open source software changing the software industry?
A: Firms like Apple, Google, and Facebook pay programmers to create open source software, which powers many websites, rewriting revenue models and lowering computing costs.
Q: How is cloud computing transforming the availability of computing resources?
A: Cloud computing, led by Amazon Web Services, provides powerful computing as a utility, making it accessible to businesses and nonprofits, revolutionizing resource availability.
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Q: How have three-dimensional printers affected fabrication and design?
A: 3D printers allow easy sharing of designs and have applications in manufacturing, including creating custom products and tools on-demand.
Q: What role does Big Data and analytics play in business?
A: Big Data, analytics, and machine learning are driving innovation and reshaping marketing. However, they also raise concerns about privacy and data handling.
Q: How has technology introduced new security and espionage challenges?
A: Pervasiveness of technology has led to security and espionage threats previously unimaginable, necessitating enhanced cybersecurity measures.
Q: Who are some young tech entrepreneurs who started successful businesses?
A: Bill Gates, Michael Dell, Mark Zuckerberg, Steve Jobs, Sergey Brin, Larry Page, Kevin Systrom, Evan Spiegel, Tony Hsieh, Steve Chen, Chad Hurley, Jeff Bezos, and founders of Dropbox, Box, Spotify, Stripe, Rent the Runway, Bumble, and ClassPass.
Q: What are some notable achievements of these young tech entrepreneurs?
A: They founded businesses that became major industry players or were acquired for substantial sums. Some became billionaires or achieved high valuations for their startups.
Q: How has technology entrepreneurship evolved?
A: Young entrepreneurs are increasingly driving the tech industry. The ease of vetting ideas online, cloud computing, app stores, and social media have lowered barriers to entry for startups.
Q: What are some examples of young tech entrepreneurs making significant impacts?
A: Shawn Fanning's Napster disrupted the music industry at age nineteen. Linus Torvalds created Linux at twenty-one, which became a key open-source component.
Q: What is the age trend among successful tech entrepreneurs?
A: TechCrunch mentions entrepreneurs peak around age 25, and many successful young entrepreneurs are featured in business magazines' "30 under 30" lists.
Q: What advice is given to older individuals in the tech industry?
A: Older individuals are encouraged to adapt to technology quickly, as younger generations are driving tech innovation and entrepreneurship.
Q: How did perceptions of tech jobs change at the beginning of the decade?
A: Initially, there was concern that tech jobs might be outsourced and lose value, but that perception was proven wrong as tech jobs boomed.
Q: What is the significance of Moore's Law in the technology industry?
A: Moore's Law is behind fast, cheap computing, which has become integral to various products and industries.
Q: How is technology embedded in job functions?
A: As technology becomes faster and cheaper, it is embedded in more job functions. Open source software, cloud computing, software as a service, and outsourcing have lowered technology costs.
Q: How is "Big Data" influencing decision-making?
A: Technology and Big Data are shifting decision-making from intuition to data-driven insights in various industries.
Q: How is technology impacting finance careers?
A: Tech companies are a significant source of IPOs and M&A deals. Technology has disrupted traditional financial roles, with robo-advisors and automation.
Q: What role does technology play in accounting?
A: Technology is crucial in accounting for recording, storing, and reporting financial data. Increased regulations make technology reliability vital.
Q: How is marketing transformed by technology?
A: Marketing has changed due to online channels, social media, and data analytics. Marketers track and modify campaigns based on online activities and consumer insights.
Q: What are some areas in operations where technology is crucial?
A: Operations management involves quality programs, process redesign, supply chain management, and automation—all of which rely on technology.
Q: How is technology used in human resources?
A: Technology facilitates knowledge management, social media, and employee training. It also affects hiring, retention, and employee satisfaction.
Q: What technology-related legal areas are growing?
A: Technology is creating demand for lawyers specializing in intellectual property, patents, piracy, and privacy due to increased activity in these fields.
Q: Why are tech skills in high demand?
A: Tech skills are in high demand, with tech jobs often dominating lists of the best career prospects. Information- and computer-related careers are expected to grow significantly.
Q: What advice does the text provide for preparing for future careers?
A: The text advises preparing for tech-related careers as they are ever-evolving, and understanding the intersection of business and technology is crucial. Procrastinating on tech study may result in falling behind.
Chapter 2: Q: What is sustainable competitive advantage in business?
A: Sustainable competitive advantage refers to a company's consistent ability to outperform its industry peers in terms of financial performance.
Q: Why is achieving sustainable competitive advantage challenging?
A: Achieving sustainable competitive advantage is challenging due to the dynamic nature of the business world, where new competitors and copycat products constantly emerge, leading to price
wars and profit erosion.
Q: What is operational effectiveness in business?
A: Operational effectiveness means performing the same tasks better than rivals, focusing on improving quality, reducing costs, and enhancing customer experiences.
Q: Why can a focus on operational effectiveness lead to challenges for a company?
A: Overemphasis on operational effectiveness can result in "sameness" among offerings, turning them into commodities. This often leads to price-based competition, affecting profits.
Q: What is the fast follower problem in business competition?
A: The fast follower problem occurs when competitors rapidly emulate a pioneer's successes and mistakes, entering the market with comparable or superior products at lower costs.
Q: Why is technology alone not a sustainable source of competitive advantage?
A: Technology can be quickly copied, leading to an arms race with rivals who can match technological advancements step by step.
Q: How does strategic positioning differ from operational effectiveness?
A: Strategic positioning involves performing different activities or the same activities in a unique
way, which can lead to sustainable competitive advantage.
Q: What are the four characteristics of resources that contribute to sustainable competitive
advantage according to the resource-based view?
A: The four key characteristics are (1) value, (2) rarity, (3) imperfect imitability, and (4) nonsubstitutability.
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Q: How did FreshDirect achieve sustainable competitive advantage through strategic positioning?
A: FreshDirect used technology to create a highly efficient grocery delivery model that offered farm-to-table freshness, extensive product choice, and significant supply chain savings. This unique approach addressed key market needs in a way that was hard for competitors to replicate.
Q: What lesson can be learned from the telecom industry's failure to achieve sustainable competitive advantage?
A: The telecom industry's overinvestment in laying fiber-optic cables without considering the rarity and value of these assets led to a collapse in prices and significant losses. It highlights the importance of evaluating the strategic value of resources before entering a market.
Q: What is the main message regarding management and resources?
A:Management does not have magic solutions, there is no exhaustive list of resources for sustainable business, and recognizing resources doesn't guarantee their long-term acquisition. Awareness of competitive advantage sources helps managers identify opportunities and vulnerabilities.
Q: What does an imitation-resistant value chain mean?
A: Firms with an imitation-resistant value chain have developed unique ways of doing business that are challenging for competitors to replicate. Technology often plays a key role in creating such value chains.
Q: Why is a strong brand important for a firm?
A: A strong brand reduces consumer search costs and inspires trust. It can be built through a positive customer experience. Tech can strengthen a brand, and satisfied consumers can promote it (viral marketing).
Q: What is scale advantage, and how do tech-leveraging businesses benefit from it?
A: Scale advantage refers to the benefits a firm gains as it grows in size. Tech businesses with favorable economies of scale can spread costs across more units of production, leading to improved profit margins as they grow.
Q: What are switching costs?
A: Switching costs are the expenses incurred by consumers when they transition from one product or service to another. Tech firms often benefit from strong switching costs, making it difficult for users to switch to rival products.
Q: How do network effects contribute to a firm's dominance?
A: Network effects make a product or service more valuable as more people use it. This can lead to a firm's dominance, especially when switching costs are high.
Q: How do distribution channels affect a firm's success?
A: Distribution channels are crucial for a firm's success. They can be owned, like Apple Stores, or leveraged from existing offerings. They can provide a significant edge, but regulators may step in if they create anticompetitive advantages.
Q: How does intellectual property protection, such as patents, impact tech firms?
A: Patents offer some protection but aren't foolproof. Legal costs can be high, and patents can be challenged. Patents don't always guarantee a competitive advantage, and other factors like secrecy and sales skills may be more critical.
Q: What does showing up in the tech industry not guarantee?
A: Just showing up in tech doesn't guarantee business survival.
Q: Give an example of how waiting can be detrimental in tech.
A: Blockbuster waited while Netflix pioneered, leading to Blockbuster's bankruptcy.
Q: How does timing and technology contribute to competitive advantage?
A: Timing and technology alone are not enough; it's what a firm does with them that matters for sustainable competitive advantage.
Q: What is true strategic positioning in tech?
A: True strategic positioning is creating differences that are hard for rivals to match, such as valuable resources like brand, scale, network effects, and switching costs.
Q: What differentiates tech-enabled firms from their competitors?
A:Tech-enabled firms leverage their lead to create network effects, switching costs, data assets, and strong brands that set them apart.
Q: Why are strategic frameworks important in business?
A:Strategic frameworks help understand the competitive environment and generate creative solutions for industry competition.
Q: What are the five forces in Porter's competitive framework?
A: The five forces in Porter's framework are rivalry among competitors, threat of new entrants, threat of substitutes, bargaining power of buyers, and bargaining power of suppliers.
Q:How did the Internet impact music retailers?
A: The Internet increased competition for music retailers, introduced substitutes like digital tracks, and created new entrants, leading to industry changes.
Q: What factors led to the rise of streaming services in the music industry?
A: Streaming services, such as Spotify and Pandora, gained popularity due to tech-enabled substitutes and customer demand for cheaper prices and convenience.
Q: How did the Internet change the bargaining power of suppliers?
A: The Internet can strengthen supplier bargaining power, especially in cases with network effects and high switching costs.
Q: What can alter the competitive landscape besides technology?
A: Government intervention, political changes, and social demographics can also shape and disrupt competitive industries. Ignoring change can be catastrophic.
Chapter 3:
Q: How did FreshDirect disrupt the grocery market?
A: FreshDirect used technology to address the quality gap between store-bought produce and restaurant-quality goods, offering farm-to-table freshness, a massive product choice, and supply chain savings.
Q: What factors contributed to FreshDirect's success in the New York City grocery market?
A: FreshDirect utilized technology to provide convenience, a broad product selection, and data-
driven recommendations tailored to customer preferences.
Q: How did FreshDirect minimize costs and reduce food waste?
A: FreshDirect optimized labor efficiency, maintained precise climate control, purchased direct from suppliers, and developed partnerships to enhance supplier relationships.
Q: What is FreshDirect's pricing strategy compared to traditional grocers?
A: FreshDirect offers competitive pricing that can undercut traditional grocers by up to 35%, while maintaining higher profit margins.
Q: How has FreshDirect's business model allowed for geographic expansion?
A: FreshDirect's model, based on direct sourcing, strong supplier relationships, and efficient operations, enabled expansion to multiple states and regions.
Q: What is FreshDirect's current customer base and financial status?
A: FreshDirect serves over 600,000 customers, maintains profitability, and continues to raise capital for expansion.
Q: What challenges did FreshDirect face during its move from Queens to the Bronx?
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A: The move resulted in order mishaps, customer dissatisfaction, financial loss, and a reduced market share.
Q: How did FreshDirect address issues caused by the move?
A: FreshDirect implemented improved customer service, used external consultants, and deployed
technology, including a tool from Splunk, to identify and solve problems.
Q: How did COVID-19 impact FreshDirect's business?
A: The pandemic led to a surge in online orders and turned FreshDirect into an "essential service," but it also strained the firm's ability to fulfill orders and required rapid operational adjustments.
Q: What competitive threats does FreshDirect face from larger rivals?
A: Amazon, Walmart, Kroger, and other big players have entered the online grocery market, potentially challenging FreshDirect's position.
Q: What strategic assets does FreshDirect possess that make it challenging for competitors to enter the market?
A: FreshDirect's complex proprietary software, supplier relationships, customer data, and tech-
enabled strategic position create significant barriers for competitors.
Chapter 4: Q: What's the story behind Zara's name?
A:Zara was a second-choice name after a bar named Zorba already existed in town.
Q: What sets Zara apart in the fashion industry?
A: Zara's unique success is attributed to technology, vertical integration, no advertising, rare sales, and a rapid global expansion.
Q: How fast is Zara expanding, and what makes it special?
A:Zara is expanding globally at a remarkable pace, opening one store per day. It's known for high fashion at moderate prices and a twice-weekly inventory delivery system.
Q:How does Zara's strategy compare to conventional fashion retail?
A: Zara's strategy differs from conventional retail as it doesn't place orders months in advance and instead relies on real-time customer demand data.
Q: What challenges did Gap face in the fashion industry?
A: Gap faced difficulties when trying to predict customer preferences in advance, leading to unsold inventory and declining sales. This contrasted with its previous success.
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Q: How does Zara ensure its stores carry what customers want to buy?
A: Zara's store managers use mobile devices to gather customer feedback on preferences and suggestions, sending this data to headquarters. Managers are motivated through incentives.
Q: What is Zara's advantage in speed and responsiveness?
A: Zara's products go from idea to store in as little as fifteen days, compared to competitors who take months. This is achieved through vertical integration, technology, and efficient logistics.
Q: How does Zara's approach to inventory differ from traditional retailers?
A: Zara focuses on limited production runs, offering exclusivity, encouraging full-price purchases, and reducing the risk of unsold items. This strategy keeps less idle stock and reduces markdowns.
Q: How does Zara utilize technology to enhance customer experience?
A: Zara uses RFID technology to manage inventory and offer services like in-store item location,
in-store pickup, and easy returns. Zara's technology aligns with its omnichannel strategy.
Q: How did Zara respond to the COVID-19 pandemic?
A: Zara's strong e-commerce presence, inventory system, and omnichannel approach allowed it to adapt rapidly, shifting inventory from closed stores to meet increased e-commerce demand, making the impact less severe compared to competitors.
Q:How does Zara plan to address the changing consumer landscape and economic conditions?
A: Zara plans to close weaker stores and expand its e-commerce efforts. Online sales are expected to make up a significant portion of revenue.
Q: What are the potential vulnerabilities in Zara's Spain-centric manufacturing model?
A: Zara's reliance on just two delivery locations in Spain exposes it to regional disruptions and currency fluctuations. Rising transportation costs pose challenges as well.
Q: How is Zara different from its competitors in terms of inventory and pricing?
A: Zara focuses on limited production runs to offer exclusivity, encourages full-price purchases, and keeps unsold stock low. It can also adjust prices to compensate for currency fluctuations.
Q: What challenges and competitors does Zara face in its industry?
A:Rivals are studying Zara's model, and some aim to close the efficiency gap. Online competitors and technology may also affect Zara's customer base.
Q: How does Zara use technology to its advantage?
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A: Zara employs technology to identify customer preferences, manufacture quickly, reduce advertising and inventory costs, and stay competitive. Technology plays a key role in Zara's success.
Chapter 6:
Q: What is Moore's Law?
A: Moore's Law refers to the idea that chip performance per dollar doubles every eighteen months, originally proposed by Intel co-founder Gordon Moore.
Q: Is Moore's Law an actual law like those in physics?
A: No, Moore's Law is not a fundamental law but a prediction based on past observations about the continuous improvement in chip performance and cost.
Q: What does Moore's Law apply to in computing?
A: Moore's Law applies to processors and chip-based storage, mainly the silicon components found in consumer electronics.
Q: What is the significance of Moore's Law for managers and computer users?
A: It highlights the exponential improvement in computing power and affordability, which can open up new markets and drive technological advancements.
Q: How has the concept of Moore's Law evolved beyond transistor density and cost?
A: It now encompasses advances in chip architecture and various technology components such as data storage and networking speed.
Q: What are some implications of fast, cheap computing for managers?
A: It enables new markets to open up, encourages price elasticity in tech products, and drives innovation as technology becomes embedded in new products and services.
Q: How has Moore's Law influenced the waves of computing over the decades?
A: It has driven waves of computing, from mainframes to minicomputers, PCs, internet computing, mobile phones, and pervasive computing.
Q: How has computing's evolution affected industries like photography?
A: The shift in technology has led to camera features being incorporated into products like smartphones, causing traditional camera companies to exit the market.
Q: What is Moore's Law based on?
A: Moore's Law is based on the observation that we are continually improving chip performance by shrinking components onto silicon chips.
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Q: What challenges threaten Moore's Law's advance?
A: The challenges of size, heat, and power, especially due to densely packed chips getting hotter and more costly to cool.
Q: How can multicore processors help address chip design problems?
A: Multicore processors involve using multiple lower-power processor cores on a single chip, which can perform tasks more efficiently, run cooler, and use less power.
Q: What is one challenge in utilizing multicore processors?
A: To fully benefit from multicore chips, applications need to be rewritten to split tasks across cores, which can be a complex coding process.
Q: How are graphics chips and specialized chips like ASICs and FPGAs used to accelerate processing?
A: Graphics chips and specialized chips are designed for specific tasks, such as artificial intelligence and machine learning, making them well-suited for cloud-based processing.
Q: How are 3D chips and new transistor designs extending Moore's Law?
A: 3D chip designs and novel transistor designs are increasing chip speed and efficiency, addressing the limitations of traditional flat chip designs.
Q: How does Google leverage specialized chips for AI?
A: Google designs its own chips for AI tasks and uses ASICs and FPGAs to enhance processing efficiency.
Q: What is the significance of Intel's new transistor design?
A: Intel's new transistor design, although not noticeably thicker, offers chips that are 37% faster and consume half as much power as conventional chips.
Q: What is supercomputing, and how is it used in business?
A: Supercomputing involves high-performance computing for tasks like simulations, design, and
scientific research. It is increasingly used by businesses for various applications.
Q: What technology enables supercomputing's massive processing power?
A: Supercomputing typically relies on massively parallel processing, which involves multiple microprocessors working together simultaneously.
Q: How is cloud computing related to supercomputing?
A: Cloud providers offer high-performance computing (HPC) in the cloud, allowing organizations to access powerful computing resources at a lower cost.
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Q: What are some computing models made possible by massive collections of computers?
A: The use of server farms enables software as a service (SaaS) and cloud computing, providing online services and replacing traditional in-house software and hardware.
Q: What challenges are associated with moving computing tasks to the cloud?
A: Cloud computing may introduce latency due to data round-tripping, which can affect the speed and reliability of communications.
Q: What technological advancements have helped address latency issues in computing?
A: Advances like chip-based neural engine co-processors have enabled local processing on devices, reducing the need for cloud-level parallel work and improving response times.
Q: What is the potential future of computing beyond Moore's Law?
A: The future of computing remains uncertain, with emerging technologies like quantum computing holding the potential for significantly more powerful computing capabilities.
Q: What are the positive impacts of Moore's Law and technological advancement?
A: Moore's Law and tech advancements lead to cost reductions, increased productivity, and innovations, benefiting various aspects of life, including digital entertainment and emerging economies.
Q: What is the downside of rapid technological obsolescence?
A: Rapid obsolescence results in growing amounts of electronic waste (e-waste), which contains hazardous materials, and it represents the fastest-growing waste stream globally.
Q: How much e-waste is generated annually, and what are the environmental and health concerns associated with it?
A: Over 50 million tons of e-waste are created each year, leading to environmental pollution and health risks due to toxic materials like cadmium, mercury, and lead.
Q: What is the potential solution for managing e-waste more effectively?
A: Recycling e-waste is a solution that not only reduces pollution but also recovers valuable metals. It is cheaper and more eco-friendly than mining for these materials.
Q: What challenges are associated with e-waste recycling, especially regarding international practices?
A: The complex value chain, international law issues, and profit-driven practices have made it challenging to ensure responsible recycling and disposal of e-waste.
Q: How is technology, including robotics and AI, helping address e-waste problems?
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A: Robotics and AI are increasingly used for recycling tasks, improving efficiency and accuracy.
Smart technologies embedded in products and trash cans aid in waste separation.
Q: What ethical considerations are relevant for modern managers in addressing e-waste?
A: Modern managers need to consider the environmental and ethical consequences of their business, such as product design, manufacturing processes, and end-of-life management. They should be attentive to their supply chain's impact and potential regulatory changes.
Q: What technology has transformed Disney World's visitor experience?
A: The MagicBand, a waterproof wristband, enables digital transformation at Disney World. It serves various purposes like park admission, room access, payment, personalized greetings, and more.
Q: How has the role of MagicBand evolved over time?
A: MagicBand has gone through iterations, and while it's still available for purchase, Disney shifted its focus to smartphone integration for many of the band's functions.
Q: What is the MyMagic+ system, and how does it enhance the Disney experience?
A: MyMagic+ includes the MagicBand and various technologies that help guests plan their visit, reserve rides, manage schedules, and provide real-time data to optimize park operations and improve guest satisfaction.
Q: How does Disney address privacy concerns related to tracking users through MagicBands?
A: Data collected is anonymized and encrypted, and the MagicBand itself doesn't store personal information. Users have control over their purchasing and data-sharing preferences.
Q: What are the benefits of Disney's data-driven approach to park management?
A: Data helps Disney improve staffing, stock inventory, reduce wait times, and provide alternative solutions when issues arise. It enhances efficiency, customer satisfaction, and financial results.
Q: How has technology impacted Disney's theme parks, and what has been the cost of implementing such technology?
A: Disney invested significantly in technology, such as MagicBand, and the cost was substantial.
However, technological advancements and Moore's Law helped make this investment justifiable.
The company continues to innovate, enhance visitor experiences, and improve cost-
effectiveness.
Q: What are Disney's plans for the future of its theme parks?
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A: Disney plans to expand its technological offerings and further integrate its parks. For instance,
the Disney Genie app will provide personalized trip planning, and the company aims to maintain its leadership in the industry.
Chapter 16:
Q: What is "Big Data"?
A: "Big Data" refers to the massive amount of data available to organizations, often unstructured and too extensive for conventional databases to handle. It includes data from various sources, such as cash registers, web browsers, fitness trackers, and RFID systems.
Q: How is Walmart using data?
A: Walmart collects and analyzes vast amounts of data, processing over 2.5 petabytes of data hourly. It combines its own data with over 200 additional sources, including meteorological data,
social media data, and more, to gain insights.
Q: What are some terms used to describe using data for decision-making?
A: The terms used include "business intelligence" (BI), "analytics," and "machine learning." These refer to leveraging data, statistical analysis, predictive models, and AI to make fact-based decisions.
Q: Why is leveraging data important for organizations?
A: Leveraging data can provide a competitive advantage, increase revenue, and improve performance in various industries. Firms like Amazon, Netflix, and Zara have used data mastery to succeed.
Q: What are some key terms associated with database systems?
A: Key terms include "table" (a list of data), "database" (a collection of related tables), "column" or "field" (defining data categories), "row" or "record" (representing instances), and "key" (fields
used to relate tables).
Q: What are relational databases?
A: Relational databases are the most common format for expressing databases. They involve multiple tables related based on common keys. SQL is widely used to create and manipulate relational databases.
Q: What is "serverless computing" in the context of databases?
A: Serverless computing allows a cloud provider to manage server-related complexities, such as servers, replication, fault tolerance, and scalability. This frees software developers to focus on creating business solutions rather than managing technology infrastructure.
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Q: What are some benefits and drawbacks of serverless computing?
A: Serverless computing increases development and deployment velocity but can tie organizations into proprietary technologies. Some organizations prefer to manage various database solutions based on their needs.
Q: What are Transaction Processing Systems (TPS)?
A: Transaction Processing Systems (TPS) record business exchanges, like cash register sales or ATM withdrawals, providing valuable data for organizations.
Q: How do loyalty programs enhance data collection?
A: Loyalty programs, often through cards or apps, encourage customers to share information in exchange for rewards. These programs help retailers gather data about customers and boost loyalty.
Q: What role do CRM systems play in data collection?
A: Customer Relationship Management (CRM) systems empower employees to capture and record data at various customer touchpoints, enhancing data collection and analysis.
Q: How do firms use surveys for data collection?
A: Surveys and focus groups provide additional insights that operational data might not capture, helping firms understand customer preferences and shape business strategies.
Q: Why do some firms combine their data with external data sources?
A: Combining internal data with external sources can provide valuable operational insights, enhance efficiency, and even yield a competitive edge. Firms like Brinker and Carnival Cruise Lines use external data to inform decision-making and improve their businesses.
Q: Why are many organizations considered data-rich but information-poor?
A: Despite having ample data, organizations often struggle to transform it into valuable information due to various challenges.
Q: What is a significant challenge related to data incompatibility?
A: Incompatible legacy systems, particularly within large firms with outdated information systems, can hinder data integration, causing operational and strategic roadblocks.
Q: How do data warehouses and data marts contribute to data analytics?
A: Data warehouses and data marts are separate repositories designed for storing and organizing data for reporting and analytics, helping to process and analyze data from various sources.
Q: What is the role of data lakes in handling Big Data?
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A: Data lakes store massive amounts of structured and unstructured data, making it easier to explore and analyze large datasets, thanks to advances in storage, parallel computing, and cloud services.
Q: What advantages are associated with Big Data technologies and data clouds?
A: Big Data technologies offer flexibility, scalability, cost-effectiveness, and fault tolerance. Data clouds simplify data storage and analysis, reducing hardware and management costs.
Q: How can organizations balance data exploration and structured data access?
A: Organizations can use data lakes for free-form exploration by skilled workers and create structured data warehouses or marts to make data accessible to a broader user base.
Q: What should organizations consider when implementing large-scale data projects?
A: Organizations should define clear business-focused objectives, address data relevance, sourcing, quantity, and quality, and plan for data hosting, governance, and data transformation (ETL).
Q: What is the purpose of query and reporting tools?
A: Query and reporting tools are used to present users with a subset of requested data, allowing users to select, sort, calculate, and explore data within organizations.
Q: What is SQL, and why is it popular for data exploration?
A: SQL is a popular tool for managers to explore data due to its ability to perform data analysis. SQL allows users to perform data queries to uncover insights.
Q: How do graphical query tools differ from programming languages like Python?
A: Graphical query tools provide a point-and-click interface for creating queries, while programming languages like Python are more powerful but require more learning and expertise.
Q: What are canned reports and ad hoc reporting tools?
A: Canned reports provide regular summaries in fixed formats, while ad hoc reporting tools allow users to create custom reports on-demand by selecting fields and parameters.
Q: What is data mining, and what are some key areas where it's used in business?
A: Data mining is the process of identifying hidden patterns and building models from large datasets. It is used in areas like customer segmentation, marketing targeting, market basket analysis, and more.
Q: What are the conditions required for effective data mining?
A: Effective data mining requires clean, consistent data and the events in the data should reflect current and future trends. Bad data or inconsistencies can lead to unreliable results.
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Q: What skills are important for a data mining and business analytics team?
A: A successful data mining and business analytics team should possess skills in information technology, statistics, and business knowledge to ensure accurate analysis and interpretation of results.
Q: What is the goal of artificial intelligence (AI)?
A: The goal of AI is to create computer programs that can mimic or improve upon functions that would otherwise require human intelligence.
Q: What tools are fueling the current spread of AI?
A: Tools fueling the current spread of AI include hardware chips designed for pattern recognition, cloud resources, open-source algorithms, software development kits, and data-
capture tools.
Q: According to Google CEO Sundar Pichai, what impact will AI have?
A: Google CEO Sundar Pichai believes that AI will have a "more profound" impact than electricity or fire.
Q: How much is Gartner estimating AI-delivered business benefits to total in 2021?
A: Gartner estimates that AI-delivered business benefits will total $2.9 trillion in 2021.
Q: What is the relationship between deep learning and machine learning?
A: Deep learning is a subcategory of machine learning, and it involves using multiple layers of interconnections among data to identify patterns and improve predictions.
Q: What are some popular categories of software used in AI?
A: Some popular categories of software used in AI include neural networks and expert systems.
Q: How does AI help optimize delivery schedules for companies like United Parcel Service (UPS)?
A: AI helps delivery companies like UPS optimize pickup and dropoff schedules, which can result in significant cost savings.
Q: How does AI improve customer service in various industries?
A: AI improves customer service by handling a high volume of customer inquiries and providing
real-time assistance, reducing the need for human intervention.
Q: How does AI contribute to healthcare, specifically in cost-saving ways?
A: AI helps healthcare organizations by identifying patients more likely to be admitted, improving patient care, and predicting potential failures, which can lead to cost savings.
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Q: What is the significance of AlphaFold in the field of biology and biochemistry?
A: AlphaFold, developed by Google, can predict the 3D structure of proteins based on amino acid sequences, which is crucial for biochemistry and can revolutionize drug discovery.
Q: What challenges and considerations are associated with AI and machine learning?
A: Challenges and considerations include data quality, the need for consistent and reliable data, data privacy and regulatory issues, employee training, and potential unintended consequences.
Q: What are some risks associated with AI and machine learning?
A: Risks include lawsuits, lost sales, damaged reputation, and discrimination based on socio-
economic background, ethnic category, or education level.
Q: How can the "black box" nature of machine learning lead to unintended consequences?
A: It makes it difficult to understand how decisions are made, which can result in software inadvertently crossing ethical boundaries or reinforcing biases.
Q: How does the lack of diversity in AI development teams impact AI systems?
A: Lack of diversity can lead to biases in AI systems, and many biases may be unintentional and unrecognized by development teams.
Q: How can organizations develop more ethical and less risk-prone AI and machine learning systems?
A: They should hire diverse teams, employ ethicists, create a code of technology ethics, establish
a systems review board, implement technology audit trails, partner to build better technology, offer strong tech and procedural training programs, and provide a means for remediation.
Q: What organization encourages the development of technology to identify deepfake content?
A: Facebook and Microsoft are supporting the "Deepfake Detection Challenge."
Q: How can employees raise concerns about AI and system issues?
A: All employees should know how to raise concerns, and there should be a clear plan of action for mitigating issues. Whistle-blowers should have protections against retaliation.
Q: What is Walmart's key source of competitive advantage?
A: Walmart's key source of competitive advantage is its scale.
Q: How does Walmart leverage information systems to improve its operations?
A: Walmart uses systems like Retail Link to record sales, trigger inventory reordering, and coordinate deliveries. It also uses data mining for various purposes.
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Q: How does Walmart use virtual reality (VR) in its employee training?
A: Walmart has implemented VR headsets in its stores to train employees in procedures, technology usage, and customer service.
Q: What innovative in-store concept has Walmart introduced to compete with Amazon Go?
A: Walmart has introduced Sam's Club Now stores, which are smaller and cashier-less, allowing customers to use an app for shopping and checkout.
Q: What challenges and criticisms does Walmart face despite its success?
A: Walmart faces criticism related to wages, labor conditions, and the impact on small businesses. It also faces challenges in adapting to changes in the retail landscape.
Q: What makes Walmart different from other retailers in terms of sharing data with information brokers?
A: Unlike many other retailers, Walmart stopped sharing its data with information brokers to maintain its competitive advantage.
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