Information Systems: A manager's guide to harnessing technology: Chapter 1: Setting the Stage: Technology and the Modern Enterprise

New technologies have:

1. fueled globalization

2. redefined concepts of software and computing

3. crushed costs

4. fueled data-driven decision making

5. raised privacy and security concerns

________________ and ____________________ have rapidly changed based on new and evolving technology. Billions in advertising dollars flee old media and are pouring into ____________________.

business models and strategies

digital efforts

Who is now the world's most profitable media company?

Google

What generates more revenue than more than half of the companies ranked in Fortune 500?

App sales through iTunes

True/False - While tech creates new giants, also know that half of the Fortune 500 companies on the list in 2000 have fallen off since then as a result of mergers, acquisitions, and bankruptcies.

True

With the advances in mobile technology __________________, ____________________, ______________________, and _______________________ are now the preferred globally used communications tools.

YouTube, Facebook, Twitter, and Instagram

What has merged as a catalyst for social change?

Social Media

Billions of people have access to ____________________ and ________________________. These also have become a valuable service. High-powered computing has turned into a utility available to even the smallest businesses and nonprofits.

computing and telecommunications

cloud computing and software

What is contributing to the rapid shift in global business power?

Techonology

What country has more internet users than any other country?

This country, which is the world's second most populous nation, has ridden technology to become a global IT powerhouse?

China

India

True/False - Mobile juggernaut WeChat, owned by China's Tencent, saw four times more payment transactions over Chinese New Year 2016 than PayPal did in all of 2015.

420 million Chinese used WeChat for payment over the holiday.

True

China has spectacularly launched several publicly traded internet firms including Baidu, Tencent, and _______________ - which is the largest IPO of all time.

Alibaba

Just in 2 decades, ______________'s tech sector has grown from almost nothing to a $120 billion industry. What is the world's second-largest technology solutions firm, second in size only to IBM?

India

TCS - Tata Consulting Services

True/False - Technology is assisting other nations with economic development an infrastructure growth

True

Nations in sub-Saharan Africa are utilizing fast/cheap tech as what?

an economic lubricant

___________% of nations in the sub-Saharan African population lives within range of mobile phone coverage and they now rank among the world's fastest growing economies.

70%

True/False - Tech giants including Google, IBM, and Microsoft now run R&D centers and significant operations in several African nations.

True

What is helping to create the multi-billion dollar Internet of Things (IoT) by doing what?

Fast/cheap computing

putting smarts in all sorts of products like: lamps, watches, thermostats, and door locks

Research firm Gartner says there are already some ___________________ connected IoT devices in use today, with _______________ on the way by the end of the decade.

5 billion

25 billion

What are also powering the drone revolution with far-reaching impact?

cheap processors and software smarts

True/False - Many of the world's most successful technology firms were created by young people.

True

He was an undergraduate when he left college to found Microsoft?

He was a sophomore when he began building computers at the University of Texas?

He was 19 when he founded Facebook?

He was 21 when he founded Apple?

Bill Gates

Michael Dell

Mark Zuckerberg

Steve Jobs

True/False - All modern managerial disciplines have NOT been impacted by technology.

True/False - Tech knowledge has become a key differentiator for a job seeker.

True/False - With computing getting cheaper and faster, it is being used everywhere.

False - they have

True

True

The rapid changes of the tech industry lead to the continual development of _________________ and rapid changes in the ___________________________.

new businesses and industry landscapes

True/False - The aspiring investment banker who doesn't understand the role of technology in firms and industries can't possibly provide an accurate guess at how much a company is worth.

True

The finance of technology is suited to what markets and are continuously involved in what? Which is why information systems is so important to finance.

IPOS - initial public stock offerings

M and A - mergers and acquisitions

True/False - Technology has the power to make certain pieces of capital obsolete.

True

What are the roles of finance in tech?

1. lending to tech firms

2. evaluating the role of technology in firms in an investment portfolio

If you're an accountant, your career is built on a foundation of technology, and as such, the numbers used by accountants are all _______________________, _________________________, and _______________________ by information systems.

recorded, stored, and reported

True/False - The reliability of any audit is NOT tied to the reliability of the underlying technology.

False - It is inherently tied

What has strengthened the link between accounting and technolgy?

increased regulations

This act raised the executive and board responsibilities and ties criminal penalties to certain accounting and financial violations?

Sarbanes-Oxley Act

Major accounting firms have spawned what?

tech-focused consulting practices

With technology in marketing, firms are using online channels to __________________ and ________________ consumer activities.

track and monitor

Name 3 reasons why firms are shifting spending from traditional media to the web?

1. tracks customers

2. analyzes campaign results

3. modifies tactics

In marketing, firms are using what to develop location-based messages and services & for cashless payment.

apps

Name 3 things firms are doing with the use of social media:

1. generating sales

2. improving their reputations

3. better serving customers

Name the 5 central components of the new marketing toolkit:

1. search engine marketing (SEM)

2. search engine optimization (SE0)

3. customer relationship management (CRM)

4. personalization systems

5. managing the balance between gathering data and respecting consumer privacy

With technology within operations, what are the 5 things that are tech centric within this field?

1. quality programs

2. process redesign

3. supply chain management

4. factory automation

5. service operations

Technology helps firms harness the untapped power of employees. Knowledge management systems are transforming into ____________________________________ which helps in doing what?

social media technologies;

helps in organizing and leveraging teams of experts

Within HR, technology is used for what 3 things?

1. employee training

2. screening

3. evaluation

True/False - With recruiting moved online - grounded in information systems that search databases for specific skill sets and job seekers write resumes with key word as the first cut can be made by a data base search program.

True

What has put added pressure on employee satisfaction and retention?

professional social networks

True/False - uSome students with their thoughtful blog posts, compelling LinkedIn presence, and Twitter activities set themselves apart from their counterparts.

True

Why is technology in law important now?

activity has increased in the areas of intellectual property, patents, and privacy

With technology and law, firms need legal teams with the skills to:

1. determine whether a firm can legally do what it plans

2. help them protect proprietary methods and content

3. help enforce claims in the home country and abroad

Name careers in Information Systems:

programmers

experts in user-interface design, process design, and strategy

consulting and field engineering

chief information officer

chief technology officer

C-Level specialties in emerging areas:

1. chief information security officer (CISO)

2. chief privacy officer (CPO)

What are the 2 reasons why the intersection of business and technology must be studied?

1. to develop critical thinking skills specific to technology

2. to evaluate new, emerging technologies

True/False - Those not trained to evaluate and make decisions risk irrelevance, marginalization, and failure.

True