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CIS EXAM 1 Study online at https://quizlet.com/_drqdyv A recent report in Forbes suggests that what percent of firms are failing at digital transformation? 72% Amazon was started by: Jeff Bezos T/F Data analytics and business intelligence are driving discovery and innovation. True 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 T/F Facebook was founded by Sergey Brin. 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 T/F David Karp, founder of the website Tumblr, sold the website to Google for $1.1 Billion False Another reason fueling the boom in fast-growing technology ser- vices is ___________________, which, when done right, can virally spread awareness of a firm with nary a dime of conventional ad spending. App stores T/F 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 T/F Crowdsourcing tools and question-and-answer sites like _____ allow firms to reach out for expertise beyond their orga- nizations. Quora A(n) _____ is the symbolic embodiment of all the information connected with a product or service. brand A trademark is the symbolic embodiment of all the information connected with a product or service of a firm. false According to Michael Porter, the reason many firms suffer mar- gin-eroding competition is because they have defined themselves according to strategic positioning rather than operational effec- tiveness. 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 con- sumers is called viral marketing. false According to Porter, strategy is fundamentally about being _____. different A firm can benefit from high switching costs, even when rivals offer free products. true 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's financial performance that consistently outperforms its industry's peers is known as _____. sustainable competitive advantage A firm's financial performance that consistently outperforms its industry's peers is known as operational effectiveness. false FreshDirect regained customer trust by: addressing the problem head on and correcting errors as quickly as possible 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. At the start of the pandemic, FreshDirect saw an increase in online orders. Website traffic increased by _______ percent. 800 1 / 7

CIS EXAM 1 Study online at https://quizlet.com/_drqdyv Early attempts at the online grocery business were unsuccessful because consumers were fine with the conventional way of shopping. 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 inse- curity, and adding jobs. A major threat to the FreshDirect model is: potential entry of better funded, growth-seeking rivals After the move to the new facility, FreshDirect switched ___ per- cent of the orders from the old system to the new. 100 CEO and co-founder Dave McInerney's main goal of launching FreshDirect was to address the quality gap between store-bought and restaurant goods. 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. Goods to be further customized based on designer/manager col- laboration are called greige. true Elaborate customer surveys help Zara designers predict fashion trends months into the future and design products accordingly. false 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. Due to limited production runs, Zara's customers: visit the stores more often. 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 Contract manufacturers used by the apparel industry are often criticized because: of poor working conditions. An information system consists of hardware, software, data, pro- cedures, and the people who interact with and are impacted by the system. true At Zara, clothes are ironed in advance and packed on hangers, with security and price tags affixed. This system means that em- ployees 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. A value chain is a set of: activities through which a product or service is created and deliv- ered to customers. 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. The managerial definition of Moore's Law suggests that com- puting costs related to chips (microprocessors and silicon-based storage) double every eighteen months. False 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 E-waste is particularly difficult to address because of: the complexity of the modern value chain. A Microprocessor is a fast chip-based volatile storage in a com- puting system. False E-waste management is extraordinarily difficult to monitor and track, and loopholes are rampant. True 2 / 7