Chapter 4 exam 2 Flashcards
What does CIO stand for and define it
Chief Information Officer
An executive responsible for managing all information resources and processes in an organization
What is a Knowledge Worker
A worker who develops or uses knowledge, contributing to and benefitting from information used in preforming various tasks
ex. planning, searching, organizing, storing
Define Technology Transfer
The formal transfer of rights to use technology given to the user by the owner
What is information Technology
it is one example technology that organizes us. It helps manage day to day transactions and make strategic decisions
What are the steps in technology planning
Requirement Analysis Design Implementation Testing Feedback Evolution
How can technology help us manage our organization
communication
prepare documents
research interests
respond to demands of customers
What are some of the threats of technology
o Information protection- Hacking, potential loss of information
o Expensive technology- technology always having to be upgraded
o Social presence- Personal information is out there
o Correct technology maintained -
o Company relationships affected-
What is the future of Technology
- Increased use of social media
- Increased use of online retailing
- Unpredictable evolution of the technology
How does Social media help businesses
Help: Processing Transactions gaining Financial Control Managing time Managing inventory Promoting the Organization Creating more mobility
What is Financial control
Almost all accounting transactions are computerized, companies can evaluate the details on sales, quality income, theft issues
What is time management
scheduling appointments, help manage time, prevent double booking, allows others to see your availability
What is Managing Inventory
- IT inventory, prevent losing sales due to lack of inventory. Costs extra money to save/ store inventory
What are aspects of Promoting the organization-
apps, websites, Chatrooms allow small companies to promote their businesses at a low cost. These allow accesses to the global market; specific markets can be targeted depending on the strategy.
Define Mobility
Offices are now mobile, on you always. You can be anywhere and still being able to accesses your office.
What is Surveying on customers
Knowledge about your customers can be gained from sales, promotions can be tailored specifically to each customer. Cameras can be used to track customer flow.
What are the environments or aspects of technology
- P-Political
- E-Economic
- S-Social
- T-Technological
- E-Environmental
- L-Legal
How does Technology Harm businesses
Protection of information Technology is expensive Maintaining a relevant social presence Employing the right technology Effects on the relationships in the company
What is a technology planner
is a continual process to ensure that businesses are effectively and efficiently managing there technologies
What are some technology changes that have affected business
invention of electricity, the assembly line, air craft, mass media, computers
What are complementary technologies and why are they important
complimentary technologies are technologies that require the use of other technologies to have value. They are important because without complimentary technologies the other technology would be useless
What are network effects
network effects depends on the number of users. (ex. yo would have no use using Facebook if none of your friends used it)
How can tracking day to day activities increase business success
It allows you to find the trends in the store and implement different set ups or placements of goods to create a better shopping experience.
List some of the technologies businesses use to create competitive advantages
Processing transactions Gaining Financial Control Managing Time Managing Inventories Promoting the Organization Creating more mobility Creating Global opportunities Creating Better Understanding of customers
Why is it important to protect our information
It is important to protect our information because it can be easily taken, shared and used to personally nd financially hurt you
What expenses are associated with technology acquisition and maintenance
some of the expenses of technology are
expensive to develop
maintenance
evaluate for effectiveness
Why is it important that social media is current and relevant to customers
because if it isn’t current it can quickly loose its competitive advantage this includes
changing customer needs
change in market place
What are the benefits to business of using social media
the benefits of using social media is
- increased brand recognition
- increased brand loyalty
- ease of switching from one retailer to another
- lower marketing costs
- increased numbers of customers visiting social media sites
Why has online retailing increased
online retailing has increased because it provides easy and uncomplicated shopping opportunities for customers while allowing businesses to sell to the world market instead of just there surrounding area. It also decreases costs so customers can get it for a cheaper price.
