Ist 305 Exam 1 Ch. 1-4 Questions & Answers 2023/2024

Disruptive Technologies {Ans: Technology that brings about sweeping change to businesses, industries, markets - Examples: personal computers, word processing software, the Internet, the PageRank algorithm - First movers and fast followers • First movers—inventors of disruptive technologies • Fast followers—firms with the size and resources to capitalize on that technology}4. System quality: Data quality and system errors {Ans: - What is an acceptable, technologically feasible level of system quality? • Flawless software is economically unfeasible. - Three principal sources of poor system performance: • Software bugs, errors • Hardware or facility failures • Poor input data quality (most common source of business system failure)}New Products, Services, and Business Models {Ans: - Business model: describes how company produces, delivers, and sells product or service to create wealth - Information systems and technology a major enabling tool for new products, services, business models • Examples: Apple's iPad, Google's Android OS, and Netflix}Knowledge management systems (KMS) {Ans: Support processes for capturing and applying knowledge and expertise • How to create, produce, deliver products and services - Collect internal knowledge and experience within firm and make it available to employees - Link to external sources of knowledge}Employment: {Ans: Reengineering