Midterm

Question 1

CIBC realized that to be successful in the financial services industry it needs to______

Answer 1

improve its digital innovation

Question 2

how are google and apple luring away customers from traditional banks?

Answer 2

by providing more convenient payment and banking options.

Question 3

Information Technology (IT)

Answer 3

any tool that people use to work with information and to support an organization’s information and information-processing needs

Question 4

Information System (IS)

Answer 4

collects, processes, stores, analyzes, and disseminates information for a specific purpose.

Question 5

Reasons to study IT/IS

Answer 5

• Be an informed user
• we are all immersed in IT in every aspect
• Organizational “digital” transformations
• all businesses need IT to survive
• no matter the major, you will be a user

Question 6

what is an informed user?

Answer 6

a person knowledgeable about ISs and IT

Question 7

why is it beneficial to be an informed user?

Answer 7

• understand is happening behind IT applications
• contribute valuable input in your chosen field
• recommend and contribute to sourcing of IT
• have an awareness of new technology
• understand how it adds or doesn’t add value

Question 8

what is digital transformation?

Answer 8

• business strategy that leverages IT to dramatically improve employee, customer, and business partner relationships
• supports continuous improvement in business operations and business processes
• develops new business models

Question 9

what was wendy’s digital transformation?

Answer 9

since they know their customers are judging them on their digital channels, it was one of the first companies to implement self order kiosks.
this also helped with controlling labour costs

Question 10

professional golf’s digital transformation

Answer 10

• courses must be prepared for the daily technology demands of a modern golf tournament
• course must support the demands of television broadcasters
• wireless connectivity for spectators

Question 11

Canada’s Olympic and Paralympic Teams digital transformation

Answer 11

• use it to create modelling that identifies talent and finds a performance edge.

Question 12

what is the CIO

Answer 12

chief information officer. highest rank IS manager. responsible for strategic planning in the organization

Question 13

data items definition

Answer 13

elementary description of things, events, activities, and transactions that are recorded, classified, and stored, but are not organized to convey any specific meaning. Data items can be numbers, letters, figures, sounds, and images

Question 14

information in relation to data items

Answer 14

data that have been organized so that they have meaning and value to the recipient
e.g. gpa + name

Question 15

knowledge in relation to data items

Answer 15

• consists of data and/or information that have been organized and processed to convey understanding, experience, accumulated learning, and expertise as they apply to a current business problem
• user needs to UTILIZE information

Question 16

what is a computer-based information system (CBIS)

Answer 16

an information system that uses computer technology to perform some or all of its intended tasks

Question 17

what are the 4 main IT components (+ the 2 extra)

Answer 17

• Hardware consists of devices such as the processor, monitor, keyboard, and printer. Together, these devices accept, process, and display data and information.
• Software is a program or collection of programs that enables the hardware to process data.
• A database is a collection of related files or tables containing data.
• A network is a connecting system (wireline or wireless) that enables multiple computers to share resources.
• Procedures are the instructions for combining these components to process information and generate the desired output.
• Procedures are the instructions for combining these components to process information and generate the desired output.

Question 18

hardware, software, networks (wireline and wireless), and databases form the _______

Answer 18

information technology platform.

Question 19

what are information technology services + examples

Answer 19

Activities performed by IT personnel using IT components; specifically, developing information systems, overseeing security and risk, and managing data.

Question 20

IT components plus IT services compose the organization’s______

Answer 20

information technology infrastructure

Question 21

what is An application (or app)

Answer 21

a computer program designed to support a specific task or business process

Question 22

collection of application programs in a single department is usually referred to as

Answer 22

a functional area information system

Question 23

what do enterprise resource planning (ERP) systems do?

Answer 23

correct a lack of communication among the functional area ISs by tightly integrating the functional area ISs via a common database.
- basically, integrate technology across all functional areas

Question 24

what does the transaction processing system (TPS) do?

Answer 24

Monitoring, collection, storage, and processing of data from day-to-day
operations

Question 25

what do interorganizational information systems (IOSs) do?

Answer 25

connect two or more organizations
- e.g. supply chain management and E-Commerce

Question 26

what are knowledge workers?

Answer 26

experts in a particular area

Question 27

what do Business analytics (BA) systems do?

Answer 27

provide computer-based support for complex, nonroutine decisions, primarily for middle managers and knowledge workers

Question 28

what do Expert systems (ESs) do?

Answer 28

attempt to duplicate the work of human experts by applying reasoning capabilities, knowledge, and expertise within a specific domain

Question 29

what do dashboards do?

Answer 29

provide rapid access to timely information and direct access to structured information in the form of reports

Question 30

Impact of IT on Organizations

Answer 30

• changes entire industries
• reduces number of middle managers and increases the number of workers reporting to them while being more efficient
• changes manager’s job by giving them less time to make decisions but at the same time providing more tools
• will eliminate some jobs and create other job categories

Question 31

Impact of IT on Society

Answer 31

• affects quality of lif by blurring the lines between work and time off
• more autonomy from Boston Dynamics. Drones. Autonomous vehicles
• helps people with disabilities and in health care
• IBM robot watson

Question 32

Business Processes help organizations do what and how?

Answer 32

become more interconnected
by creating a competitive advantage, having cross-functional process, and incorporating IT

Question 33

what is a business process?

Answer 33

ongoing collection of related activities that create a product or service
of value to the organization

Question 34

what is a business process made up of?

Answer 34

inputs - Materials, services, and information that flow through and are transformed as a result of process activities
resources - People and equipment that perform process activities
outputs - The product or a service created by the process

Question 35

what did we learn from the Graham case?

Answer 35

No point in automating a bad proccess. Needs to be improved and made more efficient, then automate.

Question 36

cross functional process

Answer 36

Processes for which no single functional area is responsible for executing.