exam oim.doc

3 Pages

Operations & Info Management
Course Code
OIM 210
Ryan Wright

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DESIGN THINKING – the ability to combine empathy, creativity, and rationality to meet users needs and drive business success. USER EXPERIENCE – how your product works in a real life, or how a person feels about using your product Grid computing software uses existing computer hardware to work together and mimic a massively parallel supercomputer. Using existing hardware for a grid can save a firm the millions of dollars it might otherwise cost to buy a conventional supercomputer, further bringing massive computing capabilities to organizations that would otherwise never benefit from this kind of power. The value chain is the “set of activities through which a product or service is created and delivered to customers.”There are five primary components of the value chain and four supporting components. The primary components are: • Inbound logistics—getting needed materials and other inputs into the firm from suppliers • Operations—turning inputs into products or services • Outbound logistics—delivering products or services to consumers, distribution centers, retailers, or other partners • Marketing and sales—customer engagement, pricing, promotion, and transaction • Support—service, maintenance, and customer support The secondary components are: • Firm infrastructure—functions that support the whole firm, including general management, planning, IS, and finance • Human resource management—recruiting, hiring, training, and development • Technology / research and development—new product and process design • Procurement—sourcing and purchasing functions "Freemium" What's free: Web software and services, some content. Free to whom: users of the basic version. Advertising What's free: content, services, software, and more. Free to whom: everyone. Web-based ad formats: Yahoo's pay-per- pageview banners, Google's pay-per-click text ads,Amazon's pay-per-transaction "affiliate ads," and site sponsorships were just the start Cross-subsidies What's free: any product that entices you to pay for something else. Free to whom: everyone willing to pay eventually, one way or another Zero marginal cost What's free: things that can be distributed without an appreciable cost to anyone. Free to whom: everyone. Online music, The additional user of Gmail. Labor exchange What's free: Web sites and services. Free to whom: all users, since the act of using these sites and services actually creates something of value Gift economy What's free: the whole enchilada, be it open source software or user-generated content. Free to whom: everyone. Free: Many models•Lots of opportunity•Larger markets•Proven Paid:Decrease quality•Limited markets•May kill the business Crowdsoursing - The act of taking a job traditionally performed by a designated agent (usually an employee) and outsourcing it to an undefined generally large group of people in the form of an open call. Types of crowdsourcing: • Crowdvoting -community’s judgment to organize, filter and stack-rank content such as newspaper articles, music and movies • Crowdsourcing creative work -“creation” activities such asking individuals to film TV commercials, perform language translation or solve challenging scientific problems • Crowdfunding-,an individual, organization or company seeking funding from the crowd in exchange for some reward. • “Wisdom of the crowds”-attempts to harness many people’s knowledge in order to solve problems or predict future outcomes or help direct corporate strategy. • Microwork – Hire worker from crowd for single task amazon things to do for small amount of money • Prize Contests – netflix Pros of crowdsourcing• Consumer involvement• Fresh input• Opportunities and connections that did not exist before• Problems can be explored quickly• Low cost Cons of crowdsourcing• Little control over quality• Ethics and opinions could be questionable Elements of user experience: strategy – what do we want? What our custumers want scope-transform strategy into requirements structure – gives shape to the scope skeleton- makes structure concrete surface- brings everything together Design can change business; more than pretty pictures; talks benefits not features; doesn't make users think; think in flows not screens; The Innovation Funnel - The five different innovation processes relate to different stages of the “innovation funnel” –the progression from a broad set of innovation ideas to actual implementation and commercialization. 1.Opportunity Identification 2.Opportunity Selection 3.development and testing 4.production and launch 5.managing the rd portfolio Five forces model: -rivalry among existing firms -threat of new entrants -barging powers of buyers -threat of substitute products or services -barging powers of suppliers owned media- channel a brand controls; build long term relationships webside;blog;twitter paid media- brand pays to leverage a channel; display ads; paid search; sponsorship; social netwoks;advertising earned media- when customer becomes a channel; vom, buzz, viral hash tags -Ame
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