ADM 1370 Study Guide - Quiz Guide: Digital Goods, Marginal Cost, Flattening
Document Summary
Processing: converts raw data into meaningful form. Output: transfers processed information to people that use it. Organizational assets: i. e. appropriate business model; efficient business processes. Managerial assets: i. e. incentives for management innovation; teamwork and collaborative work environments. Social assets: i. e. internet and telecommunications infrastructure; technology standards. Discover: target audience, objectives, capacity, how to operationalize. Strategize: listening, answering, social tools and interactions, strategy for managing content. Manage: data collection, analytics, measure results vs. goals, refine- adjust and test, repeat steps 1-3. The replacement of physical tasks by digital means. The five forces model: evaluating business processes and strategy. Porter"s five forces model determines the relative attractiveness of an industry. Long tail of social networking provides access to previously inaccessible market niches and customers. Strategy that allows businesses to sell larger amounts of popular items and providing small amounts of products that aren"t as popular. Thomas friedman"s the world is flat stages of globalization.
