Quiz 1 Study Guide - Janine PDF

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MIST 2090: Quiz 1 Study Guide What is MIS? What is the role of a consultant? -Management Information System -Role: External (consultant) and Internal (business analyst) What is innovation? What is invention? Identify examples of each -Innovation: build up from ideas that invented ideas Ex: iPod, iPhone, -Invention: inventing stuff that has been existed -Ex: Train, glue What is a lean start-up approach – How does it differ from the older design? -3 key concepts: a series if untested hypothesis, customer development, agile development -“Quick failure” and find the most appropriate products for the current market -“Pivot” What were the takeaways from “How Google Works”? -Technology is transforming virtually every business sector -Barriers to entry are melting away -Power has shifted from companies to customers and expectations have never been higher -The people that have the biggest impact are called “Smart Creatives” which are combined of “technical knowledge,” “business expertise,” and “creativity” What were the key topics in “Creative Destruction”? -Break down your company and allocate your asset toward future use. Business models always change over the year. -“Create, operate, and trade” -Average company lifespan shrinking -The challenge faced by all companies is to grow at or above the pace of their industry without loosing control of their operations What are the key pieces to a computer- how do they work together? -Computer is a device that accepts information (in form of digitalized data) and manipulates it for some result based on a program or sequence of instructions on how the data is to be processed -Components: Case, motherboard, CPU, RAM, Hard drive, video card, key board, mouse, network component, operating system, application/program How can big companies keep up with the current trends? -By being informed of the new technological innovation -Innovate and adapt new technology to their business model -Creative destruction

What are the key takeaways from “The Problem with Legacy Ecosystems”? -New age is data-driven- no “wait and see approach” -Data is: reinforceable, scalable, defensive (stronger date  more solid) -Customer relationship -Interdependent partners What were the three themes in “Gartner’s Top 10 Strategical Technology Trends”? – What are some examples of these? -1/Intelligence: Autonomous things, Augmented Analytics, Al-driven Development -2/Digital: Digital Twin, Empowered Edge, Immersive Experience -3/Mesh: Blockchain, Smart Spaces What role does data play in the new age? How do information systems support business now comparted to before? -Traditionally, it supported internal organizational processes, increased efficiency, automated and streamline processes -Today, it creates new businesses and operating models Why does it feel like technology speeds are increasing faster than ever? -Moore’s Law: idea that computing power double every 2 years

What are IP addresses? How is information sent through the internet? -Files are broken into small pieces and transferred through the internet routers -Transmission Control Protocol (TCP) guarantees that the file are properly sent and received -IP address: a unique string of numbers separated by periods that identifies each computer using the Internet Protocol to communicate over the network What are some brainstorming techniques? Why are they important? -Nominal group technique: write separate, small group, big group -“Bug list”: what bugs you -Appreciative Inquiry: “imagine the perfect future dream” and how you get to that dream -Force field: what is stopping or resisting change? How can it be overcome? -Decomposition: break up something big into its component parts -Five W’s: One H (who, what, where, when, why, how)  Help thinking...