Shared Flashcard Set

Details

T&M
Technology and Management
48
Management
Undergraduate 3
12/17/2013

Additional Management Flashcards

 


 

Cards

Term
Business Model
Definition
A set of assumptions about how an organization will perform by creating value for all the players on which it depends, not just the customers
Term
Intellectual Property
Definition
Can by assured through Patents, Copyrights, Trademarks, and Trade Secrets
Term
Investments must:
Definition
meet needs in the future - broken down into projects
Term
Three criteria for choosing projects
Definition
Financial Model (will we make $?), Political success (can these people accomplish this?), Qualitative factors (is this too risky?)
Term
Economies of scale
Definition
When average variable cost may increase with more production, but fixed cost per unit decreases (average cost declines with size of the production run)
Term
Economies of scope
Definition
When average cost of making two products together is less than the average cost of making them seperately
Term
Economies of Learning
Definition
When average cost declines with cumulative production
Term
Learning Curve Equation
Definition
Kn=K1*n^(log(b)/log(2))
Term
Strategy
Definition
A pattern in a stream of decisions
Term
If strategies are coherent
Definition
-drive cost down
-differentiate products
Term
Good strategy is consistent inside:
Definition
Resources and capabilities
Term
Good strategy is consistent outside:
Definition
Customers, industry, and environment
Term
If anyone can do that strategy
Definition
There is no money in it - develop sustainable competitive advantage
Term
Five categories of adopters
Definition
Innovators, Early adopters, Early Majority, Late majority, and Laggards
Term
How to tip the technology boat into adoption
Definition
-well-defined value proposition
-define product and competition
-provide SOLUTION, not story
-evidence of success and legitimacy
Term
Externality
Definition
decision by one person affects the costs or benefits to another person
Term
Network effects
Definition
value of service itself is dependent on number of users
Term
Complementary effects
Definition
value of service is dependent on the supply of complementary products produced by the vendors
Term
Critical mass
Definition
a set of users that can pay for the service
Term
Interlinking
Definition
benefits accrue only to users of ALL systems
Term
Dominant design
Definition
new product or set of features synthesized from individual technological innovations
Term
Once dominant design is established
Definition
focus shifts to process improvement, only incremental change to design
Term
1st mover benefits from
Definition
-learning curve
-patents
-switching costs
-barriers to entry
-better access to inputs
-location preference
-mindspace
Term
First mover disadvantages
Definition
-High cost (r&D)
-Free rider effects
-Less certainty in market
Term
Different levels of knowledge
Definition
Lead to different solutions to issues
(ranging from vertical integration to outsourcing)
Term
Explicit Knowledge
Definition
spelled out in writing, words, coded in drawings, other products
Term
Explicit Knowledge
Definition
spelled out in writing, words, coded in drawings, other products
Term
Tacit Knowledge
Definition
Uncoded, nonverbalized
Term
Tacit knowledge businesses
Definition
-empowers individuals
-highly responsive
-Workers possess knowledge and are at risk to leave
-managers "in the dark"
Term
Tacit knowledge businesses
Definition
-empowers individuals
-highly responsive
-Workers possess knowledge and are at risk to leave
-managers "in the dark"
Term
Explicit knowledge business
Definition
-No surprise products/services
-Low cost
-Higher volume
Term
Paradigm
Definition
pattern of solutions that is rooted in a particular theory or approach (determined by market)
Term
Paradigm
Definition
pattern of solutions that is rooted in a particular theory or approach (determined by market)
Term
Trajectory
Definition
pattern of normal problem solving within a paradigm (determined by science)
Term
Supporting innovation
Definition
-Support risk taking/change
-Tolerance of mistakes
-Teamwork
-Commitment from the top
Term
Modularity
Definition
Strategy for organizing complex problems and processes efficiently - composed of independently designed modules that function as an integrated whole
Term
Modular design effects
Definition
-requires standardization
-permits outsourcing
-requires scope of knowledge and skill
-encourages competition/innovation
Term
Architecture
Definition
what makes up the system and the nature of their functions
Term
Architecture
Definition
what makes up the system and the nature of their functions
Term
Interfaces
Definition
how modules interact and connect with others
Term
Standards
Definition
measures for testing performance
Term
Technological Risk
Definition
Risk that:
-it can't be solved - period
-solution doesn't meet specs
-firm doesn't have capability
Term
Market Risk
Definition
Risk that:
-new specs don't differentiate
-system isn't in place
-market doesn't accept product
Term
Market Risk
Definition
Risk that:
-new specs don't differentiate
-system isn't in place
-market doesn't accept product
Term
Stage Gate system
Definition
System where projects are broken into phases in which they are evaluated at the end of each stage in order to continue
Term
Stage Gate system
Definition
System where projects are broken into phases in which they are evaluated at the end of each stage in order to continue
Term
System Requirements
Definition
linking customer needs to tech functions
Term
System Requirements
Definition
linking customer needs to tech functions
Supporting users have an ad free experience!