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A core competency is a concept in management theory introduced by, C. K.
Prahalad and Gary Hamel.[1] It can be defined as "a harmonized combination of multiple
resources and skills that distinguish a firm in the marketplace".[2]
Core competencies fulfill three criteria:[1]
Advantages of e-commerce
1. Enhances convenience: Customers can make orders for goods at their
own convenience and from the comfort of their homes without having to travel
to the business premise. Orders are also delivered to them at their most ideal
locations. It’s the best shopping option for people who are always busy.
A database is used for Online Transactional Processing (OLTP) but can be used
for other purposes such as Data Warehousing.
A data warehouse is used for Online Analytical Processing (OLAP). This reads
the historical data for the Users for business decisions.
In a database the tables and joins are complex since they are normalized for
RDMS. This reduces redundant data and saves storage space.
In data warehouse, the tables and joins are simple since they are de-normalized.
This is done to reduce the response time for analytical queries.
RFID is a technology similar in theory to bar codes. However, the RFID tag does not have
to be scanned directly, nor does it require line-of-sight to a reader. The RFID tag it must be
within the range of an RFID reader, which ranges from 3 to 300 feet, in order to be read.
RFID technology allows several items to be quickly scanned and enables fast identification
of a particular product, even when it is surrounded by several other items.
RFID tags have not replaced bar codes because of their cost and the need to individually
identify every item.
VOIP
VoIP is a technology that uses Internet to transfers voice information through packet switching to avoid
toll charges from telco companies. Voice calls can be made easily by having a computer equipped with a
microphone and speakers with a VoIP enabled phone. Skype is an example. VoIP reduces
communication costs and lowers telecommunication fees for private lines. Business no longer needs to
maintain separate networks or provide support services and personnel. VoIP is also flexible as it does
not need any additional cost to move. Virtual private network (VPN), is an encrypted, private network
that has been configured within a public network. VPN is advantageous to businesses because it is cheap
and has the same function as VPN provided by non-internet providers.
1. Cover wild distance : Mobile is the only technology which is now become necessary for
any person in social and business life than computers. So, it is easy to reach users through
mCommerce.
2. Consumer deals : As more users use mCommerce, there are lots of companies use the
mCommerce site to reach them by giving different and better deals in comparison to their
competitor.
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What are the key management challenges involved in building, operating and maintaining information
systems today?
Answer:-
The information systems investment challenge: How can organization obtain business value from their
information system?-The strategic business challenge: What complementary assets are needed to use
information technology effectively?
- The globalization challenge: How can firm understand the business and system requirements of a
global economic environment?
-The information technology infrastructure challenge: How can organization develop an information
technology infrastructure that can support their goals when business conditions and technologies are
changing so rapidly?
-Ethic and security: The responsibility and control challenge: How canorganization ensure that their
information systems are used in an ethically and socially responsible
Introduction
An information system is integrated and co-ordinate network of components, which combine
together to convert data into information.
Components of information systems
An information system is essentially made up of five components hardware, software, database,
network and people. These five components integrate to perform input, process, output,
feedback and control.
Hardware consists of input/output device, processor, operating system and media devices.
Software consists of various programs and procedures. Database consists of data organized in
the required structure. Network consists of hubs, communication media and network devices.
People consist of device operators, network administrators and system specialist.
Information processing consists of input; data process, data storage, output and control. During
input stage data instructions are fed to the systems which during process stage are worked
upon by software programs and other queries. During output stage, data is presented in
structured format and reports.
In an organization, data input is done by the end user which is processed to generate
information products i.e. reports, which are utilized by internal and or external users.
Such a system is called operation support system.
The purpose of the operation support system is to facilitate business transaction, control
production, support internal as well as external communication and update organization
central database. The operation support system is further divided into a transaction-
processing system, processing control system and enterprise collaboration system.
In recent times, there is more stress on team effort or collaboration across different
functional teams. A system which enables collaborative effort by improving
communication and sharing of data is referred to as an enterprise collaboration system.
Importance of Information
Technology Infrastructure for
Managers
Article shared by
This accentuates the polarization between the ‘IT smart’ and ‘IT
ignorant’ managers. When the investment in IT infrastructure is
deliberately planned, there is a possibility of managers procuring
computers as status symbol rather than as a productivity tool.
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The common IT infrastructure helps reduce the costs per user,
increasing the likelihood of people making efforts to use it and sustain
its use to bring success at a later stage when the user matures.
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The Importance of IT Infrastructure
Courses
Infrastructure is ubiquitous, cardinal and in fact, the very base that the development is
Information Technology thrives on. From the most essential support systems that all users
require to communicate, to the products businesses and organizations sell, all equipment
comes under IT infrastructure. Besides, all components required to deliver the IT service to
customers too, make for an important aspect here. The detailed list must include
equipment, systems, software, and services that the organization needs irrespective of the
project or the program it is working on.
It is needless to say that IT infrastructure is the heart of such organizations. A strong
infrastructure is often though not very easy to manage and overlook. While costumer
complaints are often just one aspect of this, the underlying issue of industry-wise standards
must be addressed. Thus the need to have a course that studies and helps become more
important than ever.
Typically, what does an IT Infrastructure Management Course do?
With an IT infrastructure management course, students are exposed to the comprehensive
sphere of infrastructure in IT domains and the management of the same. The course is
structured to enable the students to be industry ready and control different managerial
responsibilities. Some of the key responsibilities hat they are taught to deliver include:
IT Infrastructure Basics
Resolving problems in that of design, managing different systems, the glitch-free flow of
technology and data and comprehensive co-ordination – are all part of the basics of IT
infrastructure management.
Delivery Processes of Services
Another integral part of the process is IT service management that brings together all the
managerial aspects of service organization in IT. Service level management, monetary
management, capacity organisation and availability administration are all incorporated to
ensure that the agreement between service provider and consumer is well synced and
keeps them both on the same platform.
Support Processes for Services
Effective IT Services require service support as a foundation. Delivery of services and
customer support today are as important as a good product itself. Organizations must invest
on this effective delivery system so as to ensure a smooth, friction-free cycle that benefits
both parties.
Management of Inventory
Data inventory and data services are another major part of IT infrastructure. And, at all
times, it has to be organized, accessible, and yet safe-guarded. Operations, back-up, data
security, archives, and recovery after unforeseen disasters are aspects covered here.
Besides, application protection and spares must be managed too.
Data Security
Further from inventory management, data security in itself is another important component
that has different elements to it. Some essential tasks include Management of security,
system and network security, physical security, management of identity, access
management, intrusion detection and security information organization.
Ethics for IT
Cyber ethics, intellectual property, privacy and law, computer forensics, ethics and internet,
cyber crimes – are some of the most obvious banes of information over surge and
managing the same is essential in crating IT Ethics.
Research
Real-life case studies of landmark IT infrastructure success stories as well as failures could
be each dissected to get a very clear perspective on what can work and what does not.
What are the career opportunities does it provides?
IT infrastructure management graduates are often offered employment opportunities in
fields like IT companies, (especially bigger corporations), urban infrastructure development,
infrastructure providers, consultants, financial institutions and construction companies. The
field provides flexibility in terms of being able to juggle between technical and soft-skills
based roles. While the job profile is also heavily dependent on the kind of corporation you
choose, a construction company for example will require a lot more infrastructure
managerial responsibility than a financial organization.
Some important job profiles
Project Manager – Technical
Estate managers – Offsite
Finance and Accounting Manager
Facility Manager- Onsite
Property Managers -Onsite
Infrastructure Managers
Project Manager-IT
IT manager- Real estate
Project Consultant-IT
Professors
Mergers & Acquisitions Manager
Financial services
Banking services
Consumer goods
Retail sectors
Controlled manufacturing
In the decision making process, we choose one course of action from a few
possible alternatives. In the process of decision making, we may use many
tools, techniques and perceptions.
Tacit and explicit are two different types of knowledge. Knowing the
differences between these two different types of knowledge is a step in the
direction of knowledge management. This is because of the fact that you deal
with knowledge gained from a document in a different manner than the
knowledge that you gain by practical experience. There are differences
between tacit and explicit knowledge that will be outlined in this article.
Explicit Knowledge
Tacit Knowledge
Many businesses today use LAN (Local Area Network) technology to enable employees to share a
common data source. It also provides a common point via which the devices that employees use, can
communicate with one another. There is however an ongoing debate as whether businesses should
deliver their LANs via a wired, or an unwired connection.
But with more and more companies now opting to deploy wireless rather than wired technology, are
they perhaps not fully informed, or is it that they see are making informed decisions and are opting to
avail themselves of the many advantages that working wirelessly facilitates?
The biggest concerns that are floated when debating wired v wireless networks are security and
speed. It has to be said that in both instances wired is superior. However, having said that, although
wired has a clear edge, that doesn’t mean to say that wireless is either insecure, or slow.
Network Security
The security of wireless is actually very good using the latest encryption technology. That’s not to
say it can’t be hacked into – it can – and being more open, in terms of accessibility, the danger is
certainly greater. This can be overcome by implementing strong passwords and both hardware and
software security solutions.
There are of course businesses that do have particularly desirable data that hackers would like to get
their hands on– like banks for instance, with all of the personal financial information they hold. For
these organisations, that sort of sensitive data warrants maximum security.
Network Speed
In terms of speed - for most small to medium-sized businesses, the slower speed that a wireless
network provides is still fast enough for what they need.
So when it comes down to choosing between wired and wireless networking from a speed and
security angle, each individual business must examine its own needs, and if the hat fits... wear it
accordingly.
For those businesses where superfast speed and ultra secure methodology are not critically important,
going wireless has many advantages to offer.
Increased mobility is by far the biggest attraction that wireless networking holds for most businesses.
Being able to sit at any terminal, anywhere in the building and access the server is a great advantage.
When laptops were developed, because of the new mobility convenience factor that they brought
within them, this gave added impetus to the advantages of being able to work anywhere within range
of the wireless network signal. It means that not only can employees now access information from
the server, wherever they are in the premises, but it also enables colleagues to collaborate and share
information in meetings held anywhere; either in a corner of the office, a bespoke meeting room, or
even the staff canteen. It enables total mobility.
The increased mobility factor both enables and facilitates the Bring Your Own Device (BYOD)
phenomenon, which more and more businesses are now taking advantage of. Laptops, Tablets, and
Smartphones that belong to individual employees are now being brought into the workplace and are
being given access rights to the wireless network. As well, as making it more convenient for
employees to carry out their tasks, BYOD also represents a potential cost saving, as businesses no
longer have to fund the hardware cost of the devices themselves.
Another important by-product of the increased mobility factor is that it promotes increased
productivity, allowing employees to collaborate where and when they need to. It brings freedom of
operation and speeds up the working process. But there is another factor too, and that is that
employees take their device’s home with them, and can work, (as many do), in their own time when
it’s convenient to do so.
Wireless networking has also gone into the public domain, with Wi-Fi hotspots being available in
many high street coffee shops, hotels, railway stations, airports, universities, hospitals, etc. It enables
people to get onto the Internet when they’re away from the office, or away from home. People can
pick up their emails, both social and business, and if their place of work allows, can also connect into
the business network remotely.
ADVANTAGE # 5 – SCALABILITY
One of the inherent problems with a wireless network is coping with expansion. Having to add
additional cabling, and reroute existing cables, can be a disruptive and costly process. Whilst every
company should plan ahead when installing a wireless network, it is almost impossible to forecast
future requirements accurately unless sound planning is carried out.
There’s no such problem with a wireless network. Being able to add new users is no more difficult
than having to issue a new password, and update the server accordingly. It’s fast, and it’s relatively
convenient. It also means that offices can be relocated within the building with consummate ease,
furniture can be readily moved around, and, of course, employees can sit wherever they need to.
Not only is it so much more convenient to add new users to a wireless network, but it seldom
involves any additional expenditure.
Having a wireless network also means that a business can provide secure network access to visiting
colleagues from other sites within the organisation. It enables them to access the data they need and
pick up and respond to their emails.
It also grants Internet access to visiting customers and suppliers. It’s now something that most
business people who have reason to travel, have come to expect. It’s also how most public Wi-Fi
hotspots grant Internet access to their guests.
Another one of the benefits of having a wireless network is that it can be used to make telephone
calls using voice over Internet protocol. VoIP calls are often free, depending on the country and the
devices you are calling, and are considerably cheaper than using conventional technology to make
international calls.
Using wireless technology rather than having a hard wired network can be much more cost-effective.
The larger the network, both in terms of area and users, the more expensive a hard wired network
will be to install. It’s not just the amount of cabling, but the actual cost of the labour to install the
raceways, and chase the cabling all through the premises; through walls, up and down different floors
etc.
Once a wireless network is in place, and even if it costs a little more initially to install, maintenance
costs are lower, and there are normally no additional costs involved in scaling up, unless the signal
needs to be boosted.
ADVANTAGE # 9 – HEALTH AND SAFETY
Because there are no wires involved with a wireless connection, the potential risk of tripping over
any trailing cables that wired connectivity requires, can be avoided altogether.
All things being considered, there are many significant advantages in having a wireless network in
place, rather than a wired network. Where enhanced security and superfast operating speeds are not
strictly necessary, the many benefits of increased mobility that wireless enables, can easily outweigh
the restrictions that a wired network imposes.
Many companies are now introducing a limited or selective wireless network alongside their existing
hard wired connection, in order to reap the benefits of both worlds. This does however have
additional cost implications, but can be the ideal solution, especially for larger organisations.
* Requested: Anyone can request a change. The person making the change request
may or may not be the same person that performs the analysis or implements the
change. When a request for change is received, it may undergo a preliminary review
to determine if the requested change is compatible with the organizations business
model and practices, and to determine the amount of resources needed to implement
the change.
* Approved: Management runs the business and controls the allocation of resources
therefore, Management must approve requests for changes and assign a priority for
every change. Management might choose to reject a change request if the change is
not compatible with the business model, industry standards or best practices.
Management might also choose to reject a change request if the change requires more
resources than can be allocated for the change.
* Planned: Planning a change involves discovering the scope and impact of the
proposed change; analyzing the complexity of the change; allocation of resources and,
developing, testing and documenting both implementation and backout plans. Need to
define the criteria on which a decision to back out will be made.
* Tested: Every change must be tested in a safe test environment, which closely
reflects the actual production environment, before the change is applied to the
production environment. The backout plan must also be tested.
* Scheduled: Part of the change review board's responsibility is to assist in the
scheduling of changes by reviewing the proposed implementation date for potential
conflicts with other scheduled changes or critical business activities.
* Communicated: Once a change has been scheduled it must be communicated. The
communication is to give others the opportunity to remind the change review board
about other changes or critical business activities that might have been overlooked
when scheduling the change. The communication also serves to make the Help Desk
and users aware that a change is about to occur. Another responsibility of the change
review board is to ensure that scheduled changes have been properly communicated to
those who will be affected by the change or otherwise have an interest in the change.
* Implemented: At the appointed date and time, the changes must be implemented.
Part of the planning process was to develop an implementation plan, testing plan and,
a back out plan. If the implementation of the change should fail or, the post
implementation testing fails or, other "drop dead" criteria have been met, the back out
plan should be implemented.
* Documented: All changes must be documented. The documentation includes the
initial request for change, its approval, the priority assigned to it, the implementation,
testing and back out plans, the results of the change review board critique, the
date/time the change was implemented, who implemented it, and whether the change
was implemented successfully, failed or postponed.
* Post change review: The change review board should hold a post implementation
review of changes. It is particularly important to review failed and backed out
changes. The review board should try to understand the problems that were
encountered, and look for areas for improvement.
Change management procedures that are simple to follow and easy to use can greatly
reduce the overall risks created when changes are made to the information
processing environment. Good change managementprocedures improve the over all
quality and success of changes as they are implemented. This is accomplished through
planning, peer review, documentation and communication.
Web browser companies release patches as updates regularly to cover any such security glitch in
the software. If you find it hard to manually check and update their software, the best way is to
keep the auto update option enabled for all software in your computer.
Internet
It is a worldwide/global system of interconnected computer networks. It
uses the standard Internet Protocol (TCP/IP). Every computer in Internet is
identified by a unique IP address. IP Address is a unique set of numbers
(such as 110.22.33.114) which identifies a computer’s location.
Intranet
Intranet is the system in which multiple PCs are connected to each other.
PCs in intranet are not available to the world outside the intranet. Usually
each organization has its own Intranet network and members/employees of
that organization can access the computers in their intranet.
Intranet sites are accessible via the web browser in a similar way as
websites in the internet. However, only members of Intranet network can
access intranet hosted sites.
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Improves on business competitive advantage: Companies have
used technology to gain competitive advantage over their competitors.
A business will improve on its technology and improve on its services
and products which will make its customers happy, this will turn these
happy customer loyal to that business and also invite more friends to
use that service or product.
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Credit Cards and Smart cards: Buying and selling of goods and
services has become simple because of these smart cards. A user can
go to a merchant’s website and make an order using their smart card
or credit card. Money will be transferred from the consumers account
to the merchants account in seconds, and then the merchant will
deliver the item to the consumers address. This saves time for both
parties.
Electronic Bill Presentation and Payment: (EBPP) systems send us
bills over the internet and they give us an easy way to pay them if the
amount looks correct. In this there is need for billing companies to
send our bills in mail. It saves time for both parties.
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ADVANTAGES AND DISADVANTAGES OF INFORMATION
TECHNOLOGY IN BANKING
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