ITC 429 EXAM 1 WITH CORRECT
QUESTIONS AND ANSWERS
On-Demand Economy - CORRECT ANSWER-the economic
activity created by technology companies that fulfill consumer
demand through the immediate provisioning of products and
services.
Business Model - CORRECT ANSWER-how an enterprise
generate...
On-Demand Economy - CORRECT ANSWER-the economic
activity created by technology companies that fulfill consumer
demand through the immediate provisioning of products and
services.
Business Model - CORRECT ANSWER-how an enterprise
generates revenue or sustains itself
Digital Business Model - CORRECT ANSWER-how a business
makes money via digital technology
Customer Experience - CORRECT ANSWER-building the
digital infrastructure that allows customers to do whatever they
want to do through whatever channel they choose to do it
Why develop digital business models? - CORRECT ANSWER--
Deliver an incredible customer experience
- Turn a profit
Increase market share
- Engage their employees
,Business Process - CORRECT ANSWER-series of steps by
which an organization coordinates and organizes tasks to get
work done
Process - CORRECT ANSWER-comprised of the activities that
convert inputs into outputs by doing work
Deliverables - CORRECT ANSWER-outputs created through
work toward a desired benefit or expected performance
improvement
Performance - CORRECT ANSWER-a result of processes
where maximizing efficiency over one's competitors is a critical
success factor
Components of a Business process - CORRECT ANSWER-
Business processes can be - CORRECT ANSWER-rigid:
resistant to change
adaptive: responding to change
Business Process Reengineering (BPR) - CORRECT
ANSWER-Eliminating the unnecessary non-value-added
processes, then simplifying and automating the remaining
processes to significantly reduce cycle time, labor, and costs.
Agility - CORRECT ANSWER-ability to respond quickly
responsiveness - CORRECT ANSWER-IT capacity that can be
easily scaled up or down as needed
Flexibiity - CORRECT ANSWER-the ability to quickly integrate
new business functions or to easily reconfigure software or
applications
IT consumerization - CORRECT ANSWER-the migration of
consumer technology into enterprise IT environments
, Process Management - CORRECT ANSWER-methods, tools,
and technology to support and continuously improve business
processes
Social-Mobile-Analytics-Cloud (SMAC) - CORRECT ANSWER-
Model of the integration of cloud, mobile, and social
technologies. The cloud forms the core. Mobile devices are the
endpoints. Social networks create the connection.
Mega Trends - CORRECT ANSWER-forces that shape or
create the future of business, the economy, and society
Cloud services - CORRECT ANSWER-any computing resource
provided over the Internet on demand, rather than run
applications from software stored on company-owned server or
computer
Big Data and Data Analytics - CORRECT ANSWER-Commonly
defined as high-volume, mostly text data
80-90% consists of Unstructured Data (no predictable format)
Digitization - CORRECT ANSWER-the process of transforming
any kind of activity or information into a digital format that can
be collected, stored, searched, and analyzed electronically—
and efficiently.
Machine to Machine (M2M) - CORRECT ANSWER-enable
sensor-embedded products to share reliable real time data via
radio signals
Internet of Things (IoT) - CORRECT ANSWER-a set of
capabilities enabled when physical things are connected to the
internet via sensors
M2M and Iot - CORRECT ANSWER-widely used to automate
businesses ranging from transportation to healthcare
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