Dejan Radeljić 4CHomework #1

CITA 460 – IT and Networked Economy

Discuss the motivation to become an e-business.

- Becoming an e-business puts new demands on the information technology platform that runs your company. As long as you have an internet platform that is reliable, scalable, flexible and secure, you will have no trouble staying competitive in this growing internet economy. With a solid infrastructure in place, your e-business can handle rapidly growing, rapidly changing demands to your systems.

Review the examples of the new versus the old economy cases. In what way did IT make difference?

- "New Economy," we understand this to mean a national financial and economic infrastructure characterized chiefly by the predominance of services and technology. IT made changes to global economy in many ways. In the past 10 years we have been experiencing the dawn of the age of information technology and we saw how everything moved to IT sector.

Explain why IT is a business pressure and also an enabler of response activities that counter business pressures.

- In every business we have pressure. Main pressures in IT are: Market Pressures, Technology Pressure and Societal Pressures.

Why are there more opportunities for entrepreneurs in the digital economy?

- Entrepreneurs have more opportunities because of new way of doing business which is everyday more and more adopted. Early entrants in digital economy had big success in digital economy.

It is said that networked computing and the web change the way we live, work, and study. Why?

- It changed many things in our lives. First of all, it changed daily habbits, communication, working environment and many other things. It changed the concept of communication and entertainment. Now we can text and video chat, send E-mails(Instead of letters) instantly. Search engines provide us way to search any information worldwide and helps us in getting up to date. Internet provides us way of online shopping and get our things delivered right at our doorstep, We can perform banking transactions with Internet. It is also a way of distant education.

Explain the sequence of events in business performance management model.

- BPM is a new frontier in IT-enabled enterprise that supports the monitoring and control of business operations. BPM solutions must be able to efficiently process business events, compute business metrics, detect business situations, and provide the real-time visibility of key performance indicators. Business Process Modelling is a method for improving organisational efficiency and quality. Its beginnings were in capital/profit-led business, but the methodology is applicable to any organised activity.

Why is the Internet said to be creator of new business models?

- Internet commerce will give rise to new kinds of business models. One of the oldest forms of brokering, auctions have been widely used throughout the world to set prices for such items as agricultural commodities, financial instruments, and unique items like fine art and antiquities. The Web has popularized the auction model and broadened its applicability to a wide array of goods and services.

Discuss why some information systems fail.

- Information systems are processing of data, but when that data comes from multiple locations, with each set of elements touching different people with different expectation. IT people and operational people differ fundamentally in one very important way, each looks at a situation from a different angle. So we can conclude that we have many factors that can impact a „system fail“.

Relate the real/time enterprise to the adaptive enterprise.

- Real time enterprise (commonly abbreviated to RTE) is a concept in business systems design focused on ensuring organisational responsiveness that was popularised in the first decade of the 21st century. It is also referred to as on-demand enterprise. Such an enterprise must be able to fulfill orders as soon as they are needed. An adaptive enterprise (or adaptive organization) is an organization in which the goods or services demand and supply are matched and synchronized at all times. Such an organization optimizes the use of its resources (including its information technology resources), always using only those it needs and paying only for what it uses, yet ensuring that the supply is adequate to meet demand

Enter scion.com and check into “Little Deviant”. Check the content of two chapters and explain your experience with the advergame.

- The portion of the website book specifies is no longer active and/or open for public.

Is the strategy to target children really worthwhile?

- I would say that it depends on various factors whether or not it is worthwhile to advertise to children such as – your product, your definition of what age group constitutes as “children” and whether or not your crossing into some ethical gray area. Advertising to children has the same basic goal as advertising to adults - make them aware of products that might interest them, or to try to convince them that your brand is right for them. The only downside is you could say children are more easily manipulated than adults, but ultimately they have very little buying power. Parents still make the buying decisions. Again whether or not you should advertise to children depends on previously mentioned factors. Interesting read - http://www.apa.org/monitor/sep00/advertising.aspx

Examine Scion’s presence in two different virtual worlds.

- Each virtual world lends itself to a different marketing strategy. In Whyville, where users tend to be fall between ages 8-15, the company launched a kind of virtual driver's ed ucation – something kinds and younger teens would find fun/usefull. . There.com is populated by those in their late teens, so Scion made sure to create a more provocative social environment. From the advertising point of view – Toyota's strategy is amazing – they don't try to make on-size.fits-all kind of advertising campaign that leaves a lot to be desired – they divided their target groups and bombard them with specific ads relevant to their interests.

Explain why business process management is a cyclical process.

- Business process management (BPM) is a management approach focused on aligning all aspects of an organization with the wants and needs of clients. It promotes business effectiveness and efficiency while striving for innovation, flexibility, and integration with technology. Business process management attempts to improve processes continuously. It could therefore be described as a "process optimization process." It is argued that BPM enables organizations to be more efficient, more effective and more capable of change than a functionally focused, traditional hierarchical management approach. Business process management activities can be grouped into five categories: design, modeling, execution, monitoring, and optimization.

Describe the commerce activities in social networking.

- Commerce activities mostly associated with social networking are best summarized by business professionals who use them (taken from pcworlds “social networks go to work” article) – reasons for "professional networking with colleagues," "learning about colleagues," "research," "setting up a meeting," and "sales prospecting”.