[MIS 301] - Final Exam Guide - Everything you need to know! (32 pages long)

• School: UT-Austin
• Department: Management Information Systems
• Course: MIS 301
• Professor: Rock Joshua

Document Summary

Chapter 2: strategy and technology: concepts and frameworks for understanding what. Sustainable competitive advantage: financial performance that consistently outperforms industry averages. Operational effectiveness: performing the same tasks better than rivals perform them. Fast follower problem: exists when savvy rivals watch a pioneer"s efforts, learn from their successes and missteps, then enter the market quickly with a comparable or superior product at a lower cost before the first mover can dominate. Strategic positioning: performing different tasks than rivals, or the same tasks in a different way. Inventory turns: sometimes referred to as inventory turnover, stock turns, or stock turnover. It is the number of times inventory is sold or used during a given period. A higher figure means that a firm is selling products quickly. Straddling: attempts to occupy more than one position, while failing to match the benefits of a more efficient, singularly focused rival.