Key Issues and Trends in IT Flashcards
How has IT/IS contributed positively to society?
All data in one place yields easy access and analysis, lower costs and data consistency.
Data analysis can increase performance and allow for simulation making it easier to cater for and predict markets leading to greater profit.
How has IT/IS negatively contributed to society?
New systems can have limited usage with high costs. Some require specialists and staff training. Burton Safes.
What are the 2 types of economic condition and how should they affect a business?
Boom: Companies have plenty of opportunities to improve performance.
Recession: Opportunities are harder to find and chance of failure increases.
As markets are recovering worldwide from recession managers are looking for ways to become more agile.
What are the key characteristics of an agile enterprise?
Mobility of tech means companies can quickly adapt to economic conditions.
Social media means professional and personal lives are intertwined.
IT key to adaptations: provide a business advantage for a short period of time.
Give an example of an agile enterprise:
Netflix put Blockbuster out of business but is now faced with rivals such as Amazon Prime and Hulu. It now works to provide new, original and self-produced content for all demographics to retain its customers. It remains at the top of the streaming services,
What did Dutta et al propose and give an example:
Dutta et al proposed that the first mover advantage was overstated and second movers could come to over take them.
An example is Kodak. They were first to produce the digital camera but delayed its release allowing Sony to reach the market first ultimately putting Kodak out of business.
What are the implications for managers in the connected age?
How can i take advantage of these devices?
What IS/IT should I use? IS it worth the money? Threats of not using it? Where can i get it?
Social networking?
Threat of global competition?
Ethical and social issues with tech?
How are customers changing?
Throughout the 2000s companies were using IT to connect and research customers.
Customers are now in charge of IT more than ever before meaning they have increased power through reviews and research.
What priorities do businesses have for facing markets in 2019?
Increasing growth. IT change. Structural development. Financial reform. Workforce streamlining. Customer analysis.
What priorities does Gartner recommend? Give examples.
Focus on diversification to increase growth, e.g. Amazon basics range mean all essentials are in one place.
Look at other locations where you can be exposed to more of your market or new markets. Red Bull offering free beverages on university campuses to expose students to their new flavours.
Improve productivity through IT. AI now entering the workplace to takeover repetitive jobs. Fraction of the time with lower costs.
All executives must be on board with digital change. Digital change can affect all areas of a company.
What are the most important strategic tech trends in 2019?
Autonomous Things. Augmented Analytics. AI development. Digital Twins. Empowered Edge.
What is the ‘Autonomous Thing’ trend?
Robotics, vehicles, drones, appliances, agents. All operate with varying degrees of capability, coordination and intelligence. For example a farming robot planting seeds in a field with human supervision.
What is the ‘Augmented Analytics’ trend?
Data science and analytics through automated algorithms to explore more hypothesis. By 2020 40% of data analytics will be automated.
What is the ‘AI Development’ trend?
Looks at embedding AI into applications to streamline processes and assist developers in automation.
What is the ‘Digital Twin’ trend?
A digital twin is a digital mirror of a object, process or system that allows for simulation as well as real-time monitoring.
