MidTerm Study Guide BMGT 301 Spring 2012 Prof Stewart The Exam may consist of multiple choice fill in the blank matching short answer or other kinds of questions Submit potential exam question on Blackboard and use the questions posted by others to study Depending on the volume and quality of questions submitted to the Exam forum on Blackboard up to 30 of the exam may come from there Questions must be posted by 3 13 to have a chance of appearing on the exam Contributing to the exam question forum will count towards your class contribution grade The exam is closed book you should have nothing on the desk except for pencils pens and erasers You must submit your exam before leaving the room and you may not come back after you leave use the restroom BEFORE the exam The test may cover anything from the readings lectures labs and other class activities You should be familiar with the examples we have discussed in class e g FreshDirect Netflix and how the concepts listed below apply to those examples You should know the key terminology highlighted in the text and lectures Below is an outline to help guide your preparation Information Goods What is an information good Provide examples What are the key characteristics of Information Goods Experience goods Unique Variable valuations With digitization Information Goods take on new characteristics Infinitely replicable Easy to distribute High fixed costs low marginal costs Intellectual Property Protection The characteristics of IP Info Goods make them similar to public goods Nonrival Nonexcludable This leads to need for special treatment different from physical property rights protection Copyright 75 95 years Automatic Fair use Patent 20 years Must be approved Exclusive rights Time limited because new innovation builds on old Need to balance protection with access Alternatives to relying on IP regulation Technical solutions DRM Subsidize creation of IP Alternate Business Models Make the product cheaper and easier to buy Look for alternate revenue streams advertising Offer extreme customization Reconceptualize the basic product as a service Give away the product To define a good business model you need to understand your strategy Strategy Goal Create sustainable competitive advantage by doing things in a unique way in the industry Resource based view of competitive advantage Generic Strategies Cost Leader Differentiation Horizontal Vertical Value Chain know each component of the value chain How IT adds value The Virtual Value Chain Visibility Mirroring New Customer Relationships Porter s Five Forces Model determines the relative attractiveness of an industry Know the 5 forces be able to apply them to an example and understand the potential impacts Netflix Case of IT Hardware What were the sources of advantage for Netflix What is Collaborative Filtering and how does it work What is meant by the Long Tail and how does the Internet influence companies in Long Tail industries Basic computer components Input storage processing output what are examples of each What is binary Why is it important How is data stored Bits bytes types of storage primary secondary Moore s law and implications and challenges Why is information quality important What are the characteristics of high quality information What problems costs are associated with poor quality information Networking and Internet What does a client do What does a server do How is data transmitted on the Internet What is TCP IP and why is it important Packet switching vs circuit switching Database fundamentals Entities attributes instances of an entity Tables columns fields rows records Relationships and ER Diagrams Cardinality Primary and foreign keys Normalization rules Data integrity Referential integrity Business rules Access Labs Given examples like the ones in class identify problems or pick the best design What problems does normalization help avoid The test may ask conceptual questions about how or why you would use the software e g when would you use a form vs a report in Access why or when would you use a validation rule or input mask in Access It may also ask you to show how tasks would be performed using screenshots see examples below The extra credit clicker questions are good examples of the kinds of multiple choice questions that may appear on the exam Below are some additional sample questions Sample Questions answers below 1 New competitors and copycat products create a race to cut costs cut prices and increase features that may benefit consumers but erode industry wide competition innovation a b c profits d e markets technology 2 A main goal of Intellectual Property protection is a To provide incentives for innovation b To limit the number of types of intellectual property that are created c To treat information goods more like physical goods d To define the unique characteristics of information goods 3 The is the set of interrelated activities that bring products or services to market a value chain b operational advantage strategic advantage c d sustainable competitive advantage e exploitable asset package 4 An information good a is a collection of symbols b is one whose value derives more from content than from physical form c is generally easy to digitize d all of the above e none of the above 5 Load Balancing refers to a Distributing computing or networking workload to avoid slow performance b Ability of a system to continue operation even when there is heavy traffic c Providing hardware and services to run web sites d Running multiple software applications at one time 6 The incentive problem refers to a The fact that most people are lazy b Difficulties in motivating employees to protect firms Intellectual Property c Difficulties created because information goods have properties of public goods d Difficulties in determining the appropriate price for information goods e None of the above 7 Your friend is trying to make a database for a local business to help organize information on their employees She identifies the following as entities First Name Position Department Employee Which of the above should NOT be an entity and why a First Name because it is an attribute of employee b First Name because it is an instance of employee c Position because it is an attribute of department d Position because it is an instance of department e NONE OF THE ABOVE 8 Which of the following is the best example of horizontal differentiation a 89 91 and 93 gasoline b different seats at Kennedy
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