Discussion Questions
1.Why has strategic management become so important to today’s corporations and how does it typically evolve in a corporation? (3 marks)
2.What is the relationship between corporate governance and social responsibility? Are people living in a relationship-based governance system likely to be unethical in business dealings? (3 marks)
3.Discuss how a development in a corporation’s natural and societal environments can affect the corporation through its task environment. (3 marks)
4.How can value-chain analysis help identify a company’s strengths and weaknesses? (2 marks)
5.What are the advantages and disadvantages of being a first mover in an industry? Give some examples of first mover and late mover firms. Were they successful? (2 marks)
6.Why are many strategic alliances temporary? (2 marks)
this is the textbook we are studying for this subject:
Wheelen, T. L., Hunger, D., Hoffman, A. N., & Bamford, C. E. (2014). Concepts in strategic management and business policy (14th ed.). Upper Saddle River, NJ: Prentice Hall. ISBN-13: 9780133126129 (print), 9780133126433 (e-text)
Students responsible for replying: Replied to each discussion topic posted by classmates by Saturday midnight with substantive relevant postings, adding value to the discussion and demonstrating student’s understanding of the concepts. And, replied more than once to at least one of the topics. In-text citation and references should be use.
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1.)Quantum Computing
Quantum computers help to catalyze the breakthroughs and developments of technologies in different fields, such as medicine, science, and finance. The ability to diagnose sicknesses quickly, help make more efficient devices, and analyze financial data can all help the growth of these fields.
Computing has evolved into apart of everyday life. The benefits are seen in virtually every field. There are still barriers that are unable to be broken with the use of current technology. There are issues that prove too large for current computational power. To attempt to break into these problems, a new, more powerful type of computing must be used. “Universal quantum computers leverage the quantum mechanical phenomena of superposition and entanglement to create states that scale exponentially with numbers of qubits, or quantum bits” (Fisher, 2009)
All computing systems need to use the fundamental ability to store and use information. Current computing power manipulate individual bits, that store information in binary code as zeros and ones (Fisher, 2009). Quantum computers use the quantum mechanical phenomena to use this information, in which they use quantum bits, or qubits.
There are certain quantum properties, including superposition, entanglement, and interference, that are used to manipulate the state of a qubit. Superposition is a combination of independent states, for example playing two independent musical notes at ones. You will hear a superposition of the two notes. Entanglement is the behavior that can not be described using classical logic. This is a famous counter-intuitive quantum phenomenon. Interference is known as phase. Quantum interference can be understood similar to wave interference. When two waves are in concurrent movement, the amplitudes add. Similarly when the waves amplitudes are out of phase, the cancel each other.
Quantum systems use these quantum properties to compute. The usefulness of quantum computing can be applied to useful metrics for understanding capability and volume of data. The use of these system allows the measurement of relationships between numbers and quality of qubits. The greater the qubit count, the more data can be stored and manipulated. This can also help lead to lower error rates, and increase accuracy of the data being measured. This data analysis can provide important analysis and great information for many different fields.
Quantum computing is a rapidly growing field and is used for research, education, and business. The processing of the vast data in these fields allows for first class expert analysis through machine.
References:
Fisher, Chris. IBM: Quantum Computing. 2 Apr. 2009, www.ibm.com/quantum-computing/.
ScienceAlert. “How Do Quantum Computers Work?” ScienceAlert, www.sciencealert.com/quantum-computers.
Questions for thought:
What applications could quantum computing specifically have in any field?
How do you think quantum computers compare to supercomputers?
In the future if quantum computers become publicly available, how can Trusty Carpets use quantum computing to improve business processes?
2.)Data Analytics
Data Analytics is the process of using raw data to draw conclusions, find trends, and “provide a clear picture of where you are, where you have been and where you should go” (What is Data Analytics, 2019). Data Analytics can be broken down into four main categories; descriptive, diagnostic, predictive, and prescriptive analysis. Descriptive analysis will answer questions on what happened and are useful for stakeholders. Diagnostic analysis will answer questions on why it happened and are usually more detailed than descriptive analysis. Predictive analysis will answer questions on what should be done and allows businesses to make informed decisions. Lastly, prescriptive analysis will answer the questions on what should be done.
Data Analytics is important because it allows businesses to “understand problems facing an organization, and to explore data in meaningful ways” (Why is Data Analysis Important In Business, 2019). Data Analysts will turn raw data that means absolutely nothing to the average person into meaningful data that the business can use in a variety of ways. It’s very important to ask prior to manipulating the data how the business plans on using the results. I’ve been working as a data analyst for the last five years and enjoy what I do. I get raw data on a daily basis and turn it into reports with pivot tables, charts, and graphs for my clients to use. On a quarterly basis I hold meetings with my clients to go over their operational report with them to point out any trends I notice and to ask if there was anything going on internally that may impact or is going to impact. Right now especially with COVID-19 we are seeing an increase of claims being processed and have provided our clients with additional reporting.
Data Analytics could be incorporated to the business case plan if we were provided data on previous sales, types of carpet sold, price per sale, customers distance from business, amongst many other items. We would be able to predict what the increase of sales would be with a new system and online presence. Data Analytics would be beneficial for Trusty Carpets to incorporate to use for both long and short term use.
1. Do you have experience with data analytics? If so, please explain. If you don’t have experience how could data analytics improve the company, you work for?
2. In what ways do you think Trusty Carpets could benefit from data analytics?
3. What are some traits a data analyst should have in order to be successful?
References
What is Data Analytics? (2019, September 23). Retrieved June 23, 2020, from https://www.mastersindatascience.org/resources/what-is-data-analytics/
Why Is Data Analysis Important In Business? [VIDEO]. (2019, October 21). Retrieved June 23, 2020, from
https://www.getsmarter.com/blog/career-advice/data-analysis-important-business/
3.)5G
What is 5G
5G is the newest network after 4G it is “the 5th generation mobile network. It is a new global wireless standard after 1G, 2G, 3G, and 4G networks” (Qualcomm 2020). 5G will allow for a new kind of network that will allow for a better connection to everything from machines to mobile devices and people. it will lower the latency and help to deliver a better signal than the one that is currently available.it should be more reliable and will allow for better connection that will impact the technology industry. As to where 5G came from no one person created or owns 5G but there are several companies that are contributing to bring the 5G network to the people. 5G is designed to provide better than any of the network before it. 5G is thought to be more unified and to have better air interface 5G will impact every industry, making safer transportation, remote healthcare, precision agriculture, digitized logistics.
Although 5G is supposed to be better than the networks that came before, but a lot of people are concerned because they believe it can have negative impact on an individual’s health. People are concerned That the effects of millimeter-wave signals which is what 5G uses might be more dangerous than traditional frequencies; and that the larger number of access points, some potentially much closer to people’s homes, might expose people to more radiation than 4G services.
Those fears are unfounded because millimeter waves are not the only way that carriers will deliver 5G service mobile which is as of now the biggest 5G service provider does not use millimeter waves they use a band of low frequencies that were used originally for TV and even sprint uses re purposed mid-band spectrum that were used for 4G to provide there 5G “Verizon and AT&T both offer millimeter-wave-based services, but they are only available in a handful of locations”( FINLEY 2019). So that shows that most of the wireless industry has already decided to use mid- and low-band frequencies for 5G because building many millimeter-wave access points will be time-consuming and expensive. So, these fears are a bit unfounded
Relation this Course
5G can relate to our case study because the network that trusty Carpet chooses could be effected by 5G. the business could go with a 5G network for better connectivity this would allow the business to process any information they receive faster and give them the ability to respond to customers faster because there is no lag in the time they receive a review or feedback to when they answer or respond to those inquiries. If it fits into the budget it would be the best option for the business.
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