value from technology

Question 1

information systems

Answer 1

• systems designed to create, gather, store, manipulate, and disseminate information
• concerned with the people, process and and purposeful use of technology

Question 2

information technology

Answer 2

• concerned with hardware and software
• eg servers, code, devices, and networks to manage and process information

Question 3

5 components framework

Answer 3

• hardware = eg laptop
• software = eg powerpoint
• data = points, sentences, graphics
• procedures = eg method to start assignment
• people = eg team in group assignment

Question 4

business pressures

Answer 4

• market
• technology
• social/political/legal

Question 5

market pressure

Answer 5

• caused by global economy
• strong competition
• changing nature of labour
• strength of customers

Question 6

technology pressure

Answer 6

• rapid discovery/improvements of technology encourages creation of substitute products and choice of alternative
• amount of information available difficult to sort

Question 7

social/political/legal pressure

Answer 7

• CSR
• compliance to government regulations

Question 8

business strategy

Answer 8

defines where a business is going and why

Question 9

technology strategy

Answer 9

• supports business strategy
• how IS will be leveraged/ underpinning IT capabilities

Question 10

dimensions of decisions

Answer 10

• problem structure; continuim of highly structured to unstructured
• nature of decisions; operational, management, strategic

Question 11

operational decisions

Answer 11

• executing tasks efficiently/effectively
• supports day-to-day activities
• value clearly quantified and results seen immediately

Question 12

management decisions

Answer 12

• acquiring/using resources efficiently to accomplish organisational goals
• consideration of different perspectives/collaboration
• quantifiable but results seen short-medium term

Question 13

strategic decisions

Answer 13

• long-term goals for growth/resource allocation
• supports broad scope of organisational issues
• collaborative and effects every stakeholder
• harder to quantify and results seen medium-long term

Question 14

7 rules of measuring value of IT

Answer 14

1) determined by stakeholder
2) outcomes not equally valued
3) narratives of Change and Run
4) impact on stakeholder objectives, not effort expended
5) align costs to enabled services
6) communicate in stakeholder language
7) funders must understand value/impact to stakeholder objective

Question 15

business model

Answer 15

the way a business plans to create and deliver value to their customers

Question 16

9 business model components

Answer 16

1) customer segments
2) value proposition
3) revenue streams
4) channels
5) customer relationships
6) key activities
7) key resources
8) key partners
9) cost structure

Question 17

e-commerce

Answer 17

• exchange of goods, services, money
• supported by communication technologies

Question 18

dimensions of e-commerce

Answer 18

product, process, delivery method

Question 19

forms of e-commerce

Answer 19

traditional, pure, partial

Question 20

disintermediation e-commerce opportunity

Answer 20

cutting out middleman and reaching customers more directly/efficiently

Question 21

reintermediation e-commerce opportunity

Answer 21

reintroducing middlemen to reduce the chaos of disintermediation

Question 22

long-tail e-commerce opportunity

Answer 22

focusing on profits made from niche offerings that cannot be provided physically

Question 23

mass-customisation e-commerce opportunity

Answer 23

providing individualised products while also reaping economies of scale by mass production

Question 24

social commerce e-commerce opportunity

Answer 24

using social media to influence shopping behaviour

Question 25

group buying e-commerce opportunity

Answer 25

• negotiating special volume discounts with local businesse
• offer members ‘daily deals’
• to reduce unsold inventory or get new customers in the door