ISQS 2340 TTU Exam 1 - Benjamin
|\ |\ |\ |\ |\ |\ |\
Mitchell questions with answers |\ |\ |\
What are the three key areas in which IT departments
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\
need to be aligned with business needs?
|\ |\ |\ |\ |\ |\
1. Ensuring security and compliance - Companies can't
|\ |\ |\ |\ |\ |\ |\ |\
function without secure and dependable access to data.
|\ |\ |\ |\ |\ |\ |\
2. Increasing efficiency and productivity - Makes business
|\ |\ |\ |\ |\ |\ |\ |\
more efficient by optimizing systems. Streamlining
|\ |\ |\ |\ |\ |\
workflows, and making jobs easier. |\ |\ |\ |\
3. Gaining competitive advantage - IT must collaborate
|\ |\ |\ |\ |\ |\ |\ |\
with business to leverage emerging technology.
|\ |\ |\ |\ |\
Business value includes what specific things?
|\ |\ |\ |\ |\
1. Increase revenue - The IT organization can be
|\ |\ |\ |\ |\ |\ |\ |\ |\
instrumental in helping a company achieve more revenue |\ |\ |\ |\ |\ |\ |\
through innovation.
|\ |\
2. Decrease cost - IT is the only department that can help
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
every other department of a company reduce cost or
|\ |\ |\ |\ |\ |\ |\ |\ |\
improve productivity. |\
3. Improve productivity - IT is often the facilitator to
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\
improve productivity by eliminating paper and
|\ |\ |\ |\ |\ |\
,implementing video conferencing to improve meeting and |\ |\ |\ |\ |\ |\
training time.
|\ |\
4. Differentiate the company - Technology can often
|\ |\ |\ |\ |\ |\ |\ |\
differentiate a company from its competition. Companies |\ |\ |\ |\ |\ |\ |\
can then become more competitive and create an
|\ |\ |\ |\ |\ |\ |\ |\
advantage in selling its products and services. |\ |\ |\ |\ |\ |\
5. Improve client satisfaction - It is much more profitable
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\
to keep a client than it is to replace a client you lose.
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
Major source of revenue comes from existing clients.
|\ |\ |\ |\ |\ |\ |\
What does the bottom line mean?
|\ |\ |\ |\ |\
It's all about the business, not about the technology
|\ |\ |\ |\ |\ |\ |\ |\ |\
(manage technology Vs. managing the business of IT).
|\ |\ |\ |\ |\ |\ |\
What should IT managers think about when
|\ |\ |\ |\ |\ |\ |\
recommending IT projects? |\ |\
Does the recommendation provide business value? -
|\ |\ |\ |\ |\ |\ |\
When IT managers make recommendations that deliver
|\ |\ |\ |\ |\ |\ |\
business value, senior management sees the IT team as a
|\ |\ |\ |\ |\ |\ |\ |\ |\
business partner rather than technical managers.
|\ |\ |\ |\ |\ |\
Why have IT projects generally failed over the years?
|\ |\ |\ |\ |\ |\ |\ |\
, When IT projects fail, it is usually not because the
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\
technology didn't work, but because the changes required
|\ |\ |\ |\ |\ |\ |\
at an organizational and employee level weren't
|\ |\ |\ |\ |\ |\ |\ |\
managed effectively. |\
Investments in "digital" can be thought of essentially as |\ |\ |\ |\ |\ |\ |\ |\ |\
investments in what? |\ |\
Investments in digital are essentially investments in |\ |\ |\ |\ |\ |\ |\
change. It's important to think in this way because these
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\
investment changes in an organization help generate |\ |\ |\ |\ |\ |\ |\
insight.
What is one tool the article suggests will help improve the
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\
likelihood of IT project success?
|\ |\ |\ |\ |\
The Benefits Dependency Network(BDN). This tool seeks
|\ |\ |\ |\ |\ |\ |\
to get managers to identify the digital technology
|\ |\ |\ |\ |\ |\ |\ |\
changes that they will be required to make, if expected
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\
benefits and outcomes are going to be delivered.
|\ |\ |\ |\ |\ |\ |\
What is The Exchange Transaction?
|\ |\ |\ |\
The Base Unit for doing Business (The underlying
|\ |\ |\ |\ |\ |\ |\ |\
structure of the socioeconomic world). |\ |\ |\ |\
|\ |\ |\ |\ |\ |\ |\
Mitchell questions with answers |\ |\ |\
What are the three key areas in which IT departments
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\
need to be aligned with business needs?
|\ |\ |\ |\ |\ |\
1. Ensuring security and compliance - Companies can't
|\ |\ |\ |\ |\ |\ |\ |\
function without secure and dependable access to data.
|\ |\ |\ |\ |\ |\ |\
2. Increasing efficiency and productivity - Makes business
|\ |\ |\ |\ |\ |\ |\ |\
more efficient by optimizing systems. Streamlining
|\ |\ |\ |\ |\ |\
workflows, and making jobs easier. |\ |\ |\ |\
3. Gaining competitive advantage - IT must collaborate
|\ |\ |\ |\ |\ |\ |\ |\
with business to leverage emerging technology.
|\ |\ |\ |\ |\
Business value includes what specific things?
|\ |\ |\ |\ |\
1. Increase revenue - The IT organization can be
|\ |\ |\ |\ |\ |\ |\ |\ |\
instrumental in helping a company achieve more revenue |\ |\ |\ |\ |\ |\ |\
through innovation.
|\ |\
2. Decrease cost - IT is the only department that can help
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
every other department of a company reduce cost or
|\ |\ |\ |\ |\ |\ |\ |\ |\
improve productivity. |\
3. Improve productivity - IT is often the facilitator to
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\
improve productivity by eliminating paper and
|\ |\ |\ |\ |\ |\
,implementing video conferencing to improve meeting and |\ |\ |\ |\ |\ |\
training time.
|\ |\
4. Differentiate the company - Technology can often
|\ |\ |\ |\ |\ |\ |\ |\
differentiate a company from its competition. Companies |\ |\ |\ |\ |\ |\ |\
can then become more competitive and create an
|\ |\ |\ |\ |\ |\ |\ |\
advantage in selling its products and services. |\ |\ |\ |\ |\ |\
5. Improve client satisfaction - It is much more profitable
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\
to keep a client than it is to replace a client you lose.
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
Major source of revenue comes from existing clients.
|\ |\ |\ |\ |\ |\ |\
What does the bottom line mean?
|\ |\ |\ |\ |\
It's all about the business, not about the technology
|\ |\ |\ |\ |\ |\ |\ |\ |\
(manage technology Vs. managing the business of IT).
|\ |\ |\ |\ |\ |\ |\
What should IT managers think about when
|\ |\ |\ |\ |\ |\ |\
recommending IT projects? |\ |\
Does the recommendation provide business value? -
|\ |\ |\ |\ |\ |\ |\
When IT managers make recommendations that deliver
|\ |\ |\ |\ |\ |\ |\
business value, senior management sees the IT team as a
|\ |\ |\ |\ |\ |\ |\ |\ |\
business partner rather than technical managers.
|\ |\ |\ |\ |\ |\
Why have IT projects generally failed over the years?
|\ |\ |\ |\ |\ |\ |\ |\
, When IT projects fail, it is usually not because the
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\
technology didn't work, but because the changes required
|\ |\ |\ |\ |\ |\ |\
at an organizational and employee level weren't
|\ |\ |\ |\ |\ |\ |\ |\
managed effectively. |\
Investments in "digital" can be thought of essentially as |\ |\ |\ |\ |\ |\ |\ |\ |\
investments in what? |\ |\
Investments in digital are essentially investments in |\ |\ |\ |\ |\ |\ |\
change. It's important to think in this way because these
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\
investment changes in an organization help generate |\ |\ |\ |\ |\ |\ |\
insight.
What is one tool the article suggests will help improve the
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\
likelihood of IT project success?
|\ |\ |\ |\ |\
The Benefits Dependency Network(BDN). This tool seeks
|\ |\ |\ |\ |\ |\ |\
to get managers to identify the digital technology
|\ |\ |\ |\ |\ |\ |\ |\
changes that they will be required to make, if expected
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\
benefits and outcomes are going to be delivered.
|\ |\ |\ |\ |\ |\ |\
What is The Exchange Transaction?
|\ |\ |\ |\
The Base Unit for doing Business (The underlying
|\ |\ |\ |\ |\ |\ |\ |\
structure of the socioeconomic world). |\ |\ |\ |\
