Systems Management & Digital Business Innovation

Question 1

Sarbanes-Oxley (2002)

Answer 1

• Enacted as response to accounting scandals
• Designed to prevent fraud, increase transparency, eliminate conflicts of interest, protect whistle blowers
• Has major impact on ERP systems and business software because IT checks to make sure books are good

Question 2

HIPPA (1996)

Answer 2

• Security and enforcement rule
• Health care access and portability
• Preventing health care fraud and abuse

Question 3

HITECH Act (2009)

Answer 3

• Drives expansion of electronic record and IT in healthcare industry
• Foundation for healthcare reform
• Electronic Health Record

Question 4

Effects of the Internet

Answer 4

• Increase in competition
• Decrease in margines
• Increase in caliber and quality
• Increase in rate of change

Question 5

What are fantasy sports good for?

Answer 5

• Live viewership
• Advertising
• Content providers
• Real money in imaginary games

Question 6

The Long Tail Distribution

Answer 6

• Variety > Bestsellers
• Money is in the tail
• Netflix, Amazon, iTunes, Advertising products

Question 7

What is the overall idea of the long tail?

Answer 7

Companies get most of its profits from a large number of infrequently requested movies rather than from few large and profitable movies

Question 8

Systems Development Life Cycle (SDLC)

Answer 8

Term used in systems engineering, information systems, and software engineering to describe a process for planning, creating, testing, and deploying an information system

Question 9

The Post Industrial Society

Answer 9

Predicted that such a convergence would shift the economies of developed nations from manufacturing to services and create new technical elites working for new science based industries

Question 10

How did the Internet disrupt power?

Answer 10

Eliminated trade offs between the richness of information and its reach to people

Question 11

What is technology now focused on?

Answer 11

Software with mobility and connectivity

Question 12

5 Tech Trends that will dominate 2017

Answer 12

1. Different Realities
2. Driverless Cars
3. Wearables
4. Artificial Intelligence
5. The Cloud & Internet of Things

Question 13

Different Realities

Answer 13

Virtual reality technologies will become mainstream by enhancing the world, not escaping it

Question 14

Driverless Cars

Answer 14

• 20% of CES show dedicated to driverless technology

- Expected to grow over 40%

Question 15

Wearables

Answer 15

• Expecting a major reconfiguration in smart-watches and fitness bands
• More invasive technologies to help lead healthier lives

Question 16

Artificial Intelligence

Answer 16

• Expanding of Siri, Alexa

- Being extended into cards, drones, healthcare, agriculture

Question 17

The Cloud & Internet of Things

Answer 17

• Enhancing the way everyday objects connect and interact

- Low powered alternatives for Wifi and Bluetooth

Question 18

Prediction of e-commerce

Answer 18

Price lower/uniform and selection wider

Question 19

What are higher prices a sign of?

Answer 19

Buyers are being better matched to the products they want

Question 20

What are some of the benefits in Fantasy Sports?

Answer 20

-With money on line, fans watch game live until end which boosts advertising and money for league

Question 21

Waterfall SDLC

Answer 21

• Know what the end result is

- Finish one phase before moving on to next

Question 22

Agile SDLC

Answer 22

• Don’t know what end result is
• Develop over period of weeks (sprint) and test
• Get feedback from client
• Cycle repeats until product it completed

Question 23

Similarity between Waterfall and Agile

Answer 23

• Same sequence of stuff

- Does the same thing

Question 24

Phases of SDLC

Answer 24

• Requirements gathering
• Analysis
• Buy vs. Build
• Design
• Coding
• Testing & Maintenance
• Training
• Go Live

Question 25

Long Tail/Fat Tail

Answer 25

• 80% revenue due to 20% of customers

- Variety > Bestsellers

Question 26

Disruptive Power of Internet Changes:

Answer 26

• How we market products
• Payment processing
• Discovering new prospects (flyers vs. linkedin)
• Virtual reality driven business (teleconference)
• New opportunity for crime (hacking)

Question 27

Disruptive Power of Camera

Answer 27

Film in dark room –> Camera –> Camera on phone

Question 28

5 Disruptive Trends

Answer 28

1. Big Data (consumer habits)
2. Robotics (drones, roomba, teleconfrencing)
3. Digital Health and Quantified Self (fitbit, insulin pump)
4. Gaming and Immersion (Wii, Pokemon Go)
5. Business Innovation (crowdfunding, open innovation)

Question 29

Waterfall Characteristics

Answer 29

• Organized
• Rigid
• Specific Steps
• Must complete one phase before moving onto next
• Large functional teams that specialize in one area
• Months-Years

Question 30

Agile Characteristics

Answer 30

• Not rigid
• Relies on cross-functional small teams
• Release a new product every couple of weeks
• Release software first, work out kinks later

Question 31

When should companies pursue building software?

Answer 31

1. If better software can provide a competitive advantage relative to your competitors
2. If you are building a large business that can spread the cost of a proprietary system over a large number of clients

Question 32

Why is building sometimes better than buying?

Answer 32

• Off-shelf software can not meet every specialized need
• Canned solutions are rigid and hard to change
• Off-shelf software not always compatible with all programs

Question 33

Why is buying sometimes better than building?

Answer 33

• Great software available
• Saves time, money, resources
• Technology would not be a competitive advantage

Question 34

How can custom software help scale your company?

Answer 34

• Increased productivity
• Competitive advantage
• Faster reaction time