CIS 105 - 2.8

Technology that super-imposes content, such as images and animation on top of real world images is called:

• Strategic design

• Illustration editing

• Alternative imaging

• Augmented reality

Which of the follow best describes the term below?

Anchoring

• ignoring the facts even though the research shows differently

• the tendency for an individual to rely too heavily on an initial piece of information

• the tendency to discard an initial piece of information

• changing your mind about a concept once more information is learned

• ranking based on previous knowledge

The resource-based view of competitive advantage states that for a firm to maintain sustainable competitive advantage it must control a set of exploitable resources that have four critical characteristics. What are these characteristics?

• Operational effectiveness, strategic positioning, scale, distribution channel

• Inventory turns, high margins, long account payable periods, brand building relationships

• A web site, an app, cloud-based systems, a savvy technology staff

• Rareness, value, imperfect imitability, non substitutability

The patent system is often considered to be unfairly stacked against start-ups because:

• the intellectual property laws are not adequate to protect the interests of smaller firms from infringements

• bigger multinational firms enjoy patent protection in all countries as opposed to start-ups, which are domestic firms that do not get such protection for the most part

• the patent system grants patents for innovations on a differential basis, with bigger firms getting precedence over start-ups

• patents are granted by the patent system on an ad hoc basis wherein firms that have been in business longer get patent protection for longer periods of time

• the patent system grants patents for innovations on a differential basis, with bigger firms getting precedence over start-ups

______ exist when a product or service becomes more valuable as more people use it.

Which of the following is one of Porter’s five forces?

• Threat of new entrants

• Strength of intellectual property laws

• Purchasing power parity of consumers

• Total cost of ownership

• Availability of competitors in the market

The set of activities through which a product or service is created and delivered to customers is known as a ______

A decision situation where one party has more or better information than its counterparty is called a(n) ________