ACCT 3 CONT

• What does it mean for a blockchain to be distributed and decentralized?

The data are distributed and synchronized among all the participants in the network.

What is Consensus in the context of blockchain?

All parties will be aware of transactions that take place on the network and agree to the transactions being written to the blockchain.

What is Immutability in blockchain?

Once transactions are confirmed on the blockchain, they are tamperproof and cannot be altered

Define Function IT

Performs a single function, such as enhancing worker productivity for standalone tasks

Define Network IT

Allows people to communicate with one another

Define Enterprise IT

Restructures interactions within the organization as well as with external partners

What is Step 1 of the strategic process: Formulate

he company examines its competitive environment and identifies ways in which it can best compete consistent with its mission, vision, and values

What is Step 2 of the strategic process: Translate

The company establishes specific objectives, measures, targets, and initiatives, and develops capital, initiative

What is Step 3 of the strategic process: Link to operations

Prepares operating budget, Prioritizes business process improvements and key performance indicators

What is Step 4 of the strategic process: Monitor

The company monitors performance to ensure processes are meeting objectives and provides feedback to operating managers for continuous improvement

What is Step 5 of the strategic process: Adapt

he company evaluates the effectiveness of its strategy, conducts profitability analytics, tests the cause-and-effect assumptions of the strategy, and identifies potential alternatives

What is Alignment risk?

The risk that the solution is not aligned with the strategy of the firm

What is Solution risk?

The risk that the solution will not generate projected benefits

What is Financial risk

The risk that the solution will not deliver expected financial performance

What is Project risk?

The risk that the project will not be completed on time and within budget

What is Change risk?

The risk that the firm or part of the firm will not be able to change

What is Technological risk?

The risk that the technology will not deliver expected benefits