Chapter 4 exam 2

Question 1

What does CIO stand for and define it

Answer 1

Chief Information Officer

An executive responsible for managing all information resources and processes in an organization

Question 2

What is a Knowledge Worker

Answer 2

A worker who develops or uses knowledge, contributing to and benefitting from information used in preforming various tasks

ex. planning, searching, organizing, storing

Question 3

Define Technology Transfer

Answer 3

The formal transfer of rights to use technology given to the user by the owner

Question 4

What is information Technology

Answer 4

it is one example technology that organizes us. It helps manage day to day transactions and make strategic decisions

Question 5

What are the steps in technology planning

Answer 5

Requirement Analysis
Design
Implementation
Testing
Feedback
Evolution

Question 6

How can technology help us manage our organization

Answer 6

communication
prepare documents
research interests
respond to demands of customers

Question 7

What are some of the threats of technology

Answer 7

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-

Question 8

What is the future of Technology

Answer 8

• Increased use of social media
• Increased use of online retailing
• Unpredictable evolution of the technology

Question 9

How does Social media help businesses

Answer 9

Help:
Processing Transactions
gaining Financial Control
Managing time
Managing inventory
Promoting the Organization
Creating more mobility

Question 10

What is Financial control

Answer 10

Almost all accounting transactions are computerized, companies can evaluate the details on sales, quality income, theft issues

Question 11

What is time management

Answer 11

scheduling appointments, help manage time, prevent double booking, allows others to see your availability

Question 12

What is Managing Inventory

Answer 12

• IT inventory, prevent losing sales due to lack of inventory. Costs extra money to save/ store inventory

Question 13

What are aspects of Promoting the organization-

Answer 13

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.

Question 14

Define Mobility

Answer 14

Offices are now mobile, on you always. You can be anywhere and still being able to accesses your office.

Question 15

What is Surveying on customers

Answer 15

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.

Question 16

What are the environments or aspects of technology

Answer 16

• P-Political
• E-Economic
• S-Social
• T-Technological
• E-Environmental
• L-Legal

Question 17

How does Technology Harm businesses

Answer 17

Protection of information
Technology is expensive
Maintaining a relevant social presence
Employing the right technology
Effects on the relationships in the company

Question 18

What is a technology planner

Answer 18

is a continual process to ensure that businesses are effectively and efficiently managing there technologies

Question 19

What are some technology changes that have affected business

Answer 19

invention of electricity, the assembly line, air craft, mass media, computers

Question 20

What are complementary technologies and why are they important

Answer 20

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

Question 21

What are network effects

Answer 21

network effects depends on the number of users. (ex. yo would have no use using Facebook if none of your friends used it)

Question 22

How can tracking day to day activities increase business success

Answer 22

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.

Question 23

List some of the technologies businesses use to create competitive advantages

Answer 23

Processing transactions
Gaining Financial Control
Managing Time
Managing Inventories 
Promoting the Organization
Creating more mobility 
Creating Global opportunities
Creating Better Understanding of customers

Question 24

Why is it important to protect our information

Answer 24

It is important to protect our information because it can be easily taken, shared and used to personally nd financially hurt you

Question 25

What expenses are associated with technology acquisition and maintenance

Answer 25

some of the expenses of technology are

expensive to develop
maintenance
evaluate for effectiveness

Question 26

Why is it important that social media is current and relevant to customers

Answer 26

because if it isn’t current it can quickly loose its competitive advantage this includes
changing customer needs
change in market place

Question 27

What are the benefits to business of using social media

Answer 27

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

Question 28

Why has online retailing increased

Answer 28

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.