ISTM Exam 3 Review: Applied Math Key Terms & Definitions

Impact of the New Age of technology

✓ Output goes up

✓ Costs go down

✓ Quality goes up

Freeman Dyson

"Technology is a gift of God. After the gift of life - it is perhaps the greatest of God's gifts. It is the mother of civilizations, of arts and sciences."

Problems With Technical Innovations

✓ Corporate profits are high.

✓ Employee wages are not keeping up with cost.

✓ America needs a prosperous middle class - BUT medium income has decreased over the past 15 years.

✓ Quality of life polarization and inequity has gone up

Professional Versus the Laborer: Differences (All races & socio-economic groups impacted)

Professional's are much more well off in work, the economy, marriage, family, government, and society.

Economic Playbook

✓ Encourage Entrepreneurship

✓ Double-Down on Infrastructure

✓ Turn Out People from Our Educational Systems with the Appropriate Skills

More Radical Interventions as We Move to an Economy with Less Labor and More Technology

✓ Net guaranteed minimum income.

✓ Need something to support social mobility

Education is the key to solving societal concerns.

✓ Public schools are a problem.

✓ Need a new solution.

▪ Annual cost of Cybercrime damages will exceed...

$10.5 trillion by 2025.

Average cost of a data breach in the United States was...

$9.44 million.

From 2020 to 2025, businesses plan to spend over___________ on cyber security.

$1 trillion

Experts believe a cyberattack occurs every...

11 seconds

_____ of employees are believed to steal data.

57%

Identity theft occurs every...

2 seconds

_____ of all funds stolen through cybercrime is NEVER recovered

68%

___ of computers are vulnerable to cybersecurity threats

99%

The CIA Model (to prevent cyber attacks)

1. Confidentiality

2. Integrity

3. Availability (appropriate access)

Black Hat

Steals or destroys information for malicious reasons

White Hat

Individuals or organizations hired by businesses to try and break into their computer systems (computer vulnerabilities).

Hacktivist

Hack a firm's computer system due to political/philosophical reasons.

Cracker

Illegally access an organization's website - deface or change web pages.

Script Kiddies or Bunnies

An unskilled individual who uses scripts or programs developed by others - primarily for malicious purposes.

Cyberterrrorist

Criminal who uses computer technology and the Internet, especially to cause fear and disruption (mass destruction).

Social Engineering

Hackers use their social skills to trick people into revealing access credentials or other valuable information

Smishing

Phishing attacks committed using text messages (SMS).

Denial-of-Service Attack (DOS)

Floods a website with so many requests for service that it slows down or crashes the site

Likejacking (Social Media)

Scammers share a compelling video, image, or discount deal. When a user clicks the "Like" button - a post (usually advertising) is sent to all the user's friends in Facebook.

Linkjacking (Internet)

A cybercriminal tricks a user into clicking a link that seemingly takes them one place but instead routs them to the attacker's chosen destination most often for malicious purposes.

Accounts for over 80% of computer security incidents

User or human error

Click fraud

Programs inserted in advertising network websites that will automatically pass a user from their current website to a web site that "earns Google per-click fees".

Purchase Scams (International Sales)

Fraudulent large sum order with a fake credit card that results in a "charge back" and the firm losing all product value

_ in __ fall victim to identitiy theft every year

1 in 15

___ of college students state they are members of 3 or more social media sites

92%

___ of employers will complete a social media check before hiring a candidate

70%

Centralized Organizational Structure

An operational model whereby all decisions are controlled by a central administration unit and carried down through the chain of command within an organization

Decentralized Organizational Structure

An operational model whereby respective units of an organization are given autonomy to control and carry out decisions, although each unit is expected to operate within the organization's guiding principles

Hierarchical Organization Structure

Pyramid shaped organizational form based on the concepts of division of labor, specialization, span of control, and unity of command

Circular Organizational Method

Instead of information flowing down to the next "level" - information flows out to the next ring of management.

Vertical Organizational Structure

A traditional company structure based on a chain of command where leaders sit at the top of the hierarchy and pass down orders to lower-level workers

Flat Organizational Structure

Characteristic of decentralized companies with relatively few layers of management

Core Functional Behaviors

✓ Accounting ✓ Human resources ✓ Marketing ✓ Research and development ✓ Production. ✓ Information technology (support)

Top 3 Organizational Structures

Functional Structures

Divisional Structure

Matrix Structure

Functional Structure

People with similar occupational specialties are put together in formal groups

Most common

Functional Structure Drawbacks

✓ Structure runs the risk of being too confining and it can impede employee growth. ✓ Hamper the speed of organizational decision making. ✓ Has the potential for a lack of cross-department communication and collaboration.

Divisional Structure

➢ Employees are grouped into divisions or branches - according to service or product, geographic location, or competitive market. ➢ Structure is also hierarchical, vertical, and centralized.

Divisional Structure Drawbacks

✓ Can foster inefficiency if product or market teams have similar functions.

✓ Can encourage rivalries among functions.

✓ Can foster an "all I care about is us" silo mentality

Matrix Structure

➢ Employees will have multiple reporting obligations depending on the knowledge and skills they can provide to a variety of distinct organizational functions. ➢ The structure offers flexibility by enabling shared resources and fostering collaboration.

Matrix Structure Drawbacks

✓ Employee work relationships can be complex - causing confusion about work accountability and communications responsibilities.

✓ Confusion can increase organizational operating costs.

✓ Confusion can lead to organizational conflict.

Accounting

The process of planning, recording, analyzing, and interpreting financial information. The most important function

Human Resources

Maintains policies, plans, and procedures for the effective management of employees

Marketing

The process by which companies create value for customers and build strong customer relationships in order to capture value from customers in return

The Four P's of Marketing

Product, Price Place Promotion

Develop and Implement an IS Strategy

IS leadership must develop a plan of how to allocate scarce IS resources to align with the mission, vision, and strategic plan of the business.

Develop Rules, Procedures, and Protocols

IS leadership must develop policies (rules) that govern the secure operations of all organizational IT resources.

Acquire, Implement, and Maintain IS Infrastructure

Partner with organizational users to assess, acquire, and implement hardware, software, and communications systems.

Lead Systems Analysis & Project Management (Problem Solving) Efforts

IS partners with organizational users to successfully complete projects that provide a competitive advantage, eliminate a competitive shortcoming, or resolve a problem.

Ecommerce Operations

IS partners with organizational users to establish and maintain systems that support information sharing (e.g., website, EDI, EFT, etc.) within the firms value chain(s).

8 Characteristics of a Good Business Report

-Simplicity

-Clarity

-Brevity (focused and complete)

-Unbiased

-Accurate

-Reader Orientation (comprehension and understanding)

-Relevancy

-Presentation

Advantages of Business Reports

1. Supports Crucial Decision Making

2. Essential Managerial Tool

3. Communications Mechanism

4. Challenge Solver

5 Document Organizational Events

Disadvantages of Business Reports

1. Not interactive

2. Can be biased

3. Too much "Insider Language"

4. Limited Life Span

5. Limited Flexibility

Top level management MAKES...

Strategic decisions

Middle level management MAKES...

Tactical decisions

Low level management MAKES...

operational decisions

Ad-HOC (On Demand) Reports

Usually presents information in a highly summarized and very visual format so that it is possible to make an important business decision in a short period of time

Transaction Processing System (TPS) Report

▪ A TPS system is an information processing system created and implemented to automatically track all daily business transactions within a business.

Chief Information Officer (CIO)

Oversees all uses of IT and ensures the strategic alignment of IT with business goals and objectives

Chief Technology Officer (CTO)

Role: Develop technical aspects of the company's information systems strategy to ensure alignment with its business goals.

Chief Information Security Officer (CISO)

Role: Establishing the "right" organizational security and governance practices to successfully protect IT/IS from internal and external threats.

Information Systems Technicians (Services)

▪ Traditionally report to the CIO or CTO.

▪ Responsible for developing and maintaining BOTH the organization's technical infrastructure and data resource

Support Technician

✓ Responsible for resolving problems related to hardware and software issues

✓ Educating people and answering questions relating to the technologies/applications.

Systems Architect/Systems Programmer

✓ Responsible for devising, configuring, operating, and maintaining all computer architecture, infrastructure, networking, and systems software components.

Database Analyst/Data Analyst

✓ Designs, implements, administers, and monitors data management systems and ensures design, consistency, quality, and security.

✓ Responsible for installing, configuring, monitoring, maintaining, and improving the performance of databases and data stores.

Network Administrator/Network Analyst

✓ Responsible for designing, managing, overseeing, and maintaining the operation of the organization's different networks (e.g., LAN, WAN, etc.).

✓ Ensures all the organization's networks are securely "up and operating".

Website Administrator/Website Developer

✓ Responsible for designing, managing, overseeing, and maintaining the operation of the organization's website presence.

✓ Ensures the organizations website (web presence) is securely "up and available"

IS/IT Security Specialist

✓ Installing, configuring, and maintaining security software designed to prevent outside attacks on the organization's internal network.

Director of New Systems Development

✓ Responsible for collaborating with organizational clients (users) to identify, plan, design, test, and implement funded new IS development projects. ✓ Ensures projects are delivered on-time, in budget, and meets user specifications.

Director of Systems Maintenance

✓ Responsible for collaborating with organizational clients (users) to identify, plan, design, test, and implement funded IS maintenance projects.

✓ Ensures maintenance requests are delivered on-time, in budget, and meets user specifications.

Project Manager/Systems Analyst

✓ Responsible for leading approved IS development and/or maintenance projects.

✓ Responsible for completing a "high quality" development or maintenance IS project on-time, in budget, and meeting user specifications.

Programmer

✓ Responsible for writing code for computer programs and mobile applications.

✓ Responsible for maintaining, debugging, and troubleshooting systems and software applications based on development and/or maintenance specifications.

There are over ______ System Development Methodologies

7,000

Waterfall Methodology

✓ Straightforward methodology: good for novices.

✓ Employs a simple, linear, and chronological approach.

✓ Process requires milestones and deliverables throughout the development process.

✓ Uni-Directional flow - no going back after the project team completes a phase.

Agile Methodology

✓ Popular - used for dynamic project development.

✓ Employs an iterative "short sprints" - 4 Weeks. ✓ Project team focuses on incremental development instead of delivery at the end of the project.

✓ Client feedback is taken at project milestones. The client can make changes to ensure project success.

Rapid Application Development (Prototyping)

✓ Goal: high quality results => low cost.

✓ Project team designs and develops imperfect prototypes and receives user immediate feedback. Looping process continues until all client requirements are met.

✓ Project team may have to go back and complete another project effort to develop a final product.

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Database Analyst (DBA)

The person responsible for all data in an organization

Waterfall/SDLC

The most common used method for system development