Business Technology & Knowledge Management

Question: 1. Describe risk analysis as it relates to information systems security and explain three ways to approach systems security risk. 2. Valacich describes four international business strategies in the digital world, what are they? Describe each one and point out their relevant strengths and weaknesses. 3. What does the term knowledge worker mean in the context of todays business world? 4. View the following sites: i. www.informationweek.comii. www.itwire.comiii. www.delimiter.com.auiv. www.computerworld.com.au Then write a paragraph on which technologies and issues seem to be current (hot) at the moment, and which seem to be most important to business managers, according to each of these sites. 5. Describe what primary and secondary storage are, compare and contrast these two types of storage. 6. Describe the four services available from a network i.e. network services. 7. List and explain three benefits of using extranets. 8. List and describe the five typical revenue models for e-commerce. 9. What are the advantages of storing information in a relational database using a database management system (DBMS)? 10. Contrast technological safeguards and human safeguards in information systems security, using examples to illustrate your points. Answer: 1. Describe risk analysis as it relates to information systems security and explain three ways to approach systems security risk. Risk Analysis in information system has been referred to as process of determining risks developing plans as to how to mitigate the risk in a well define manner. Risks arise due to either some threats (untrained staff, illegitimate user, manipulation of the information) or vulnerabilities (hackers, poor network design, and poorly designed website). The three ways to approach systems security risk have been discussed as under: i.Acceptance: Acceptance refers to the process of accepting the risks. In case of information systems security, the business managers on behalf of the authorized person are liable to accept the risk either high or low (Aloini, Dulmin Mininno, 2007). ii.Mitigation: Mitigation refers to the commonly used approach for systems security. In this fixing the flaws providing some strategies to overcome the same is done. iii.Transference: Transference refers to the process of allowing a third party to accept the risk on your behalf (Anon, 2015). 2. Valacich describes four international business strategies in the digital world, what are they? Describe each one and point out their relevant strengths and weaknesses. The four international business strategies in the digital world are as follows: i. Home replication business strategy: Home replication business strategy refers to type of strategy which is very common in todays globalized economy. In this type of strategy, the organization pursuing the same mainly focus on their domestic customers need and export their products so as to generate additional sales and profits. ii. Global business strategy: Global business strategy refers to a type of business strategy in the digital world where in products are lunched in the global market. It has been seen that, companies who practice this type of strategy try to attain economies of scale (Kim Solomon, 2012). iii. Transnational business strategy: Transnational business strategy refers to a type of business strategy where in the organization decides as to what all aspects are to be decentralized what all aspects are to be kept under central control. iv. Multi domestic business strategy: Multi domestic business strategy refers to a type of business strategy where in markets are flexible and responsive to the as well as demands of the market as a whole. 3. What does the term knowledge worker mean in the context of todays business world? Knowledge worker in todays business world refers to the type of worker whose main capital is knowledge. Some of the examples of a knowledge worker are software engineers, architects, engineers, doctors, scientist, lawyer or any other personnel whose main aim is to think for a living (Amar, 2002). A knowledge worker can be distinguished from an ordinary worker on the basis of its problem solving skills which require high levels of creative divergent skills. In todays business world, a knowledge worker is referred to as a worker who has a deep background in terms of education expertise in a particular field. In some fields knowledge workers are also known by the term Gold collars as they are highly paid personnels (Awad Ghaziri, 2004). 4. View the following websites: informationweek.com itwire.com delimiter.com.au computerworld.com.au Then write a paragraph on which technologies and issues seem to be current (hot) at the moment, and which seem to be most important to business managers, according to each of these sites. The technologies issues which seem to be hot at the moment and important to the business managers have been discussed in this section of the report. They are: Technological at the moment: One of the emerging technologies which can be seen in todays business environment is the virtual reality (VR) services. It has been seen that, there are nine core industries which are impacted by VR. Issues at the moment: A site i.e. Delimiter has come to an end. This has led to a great loss in the technological advancements. 5. Describe what primary secondary storage are, compare and contrast these two types of storage. Primary Storage: The internal hard drive of a computer is termed to be as primary storage as it stores the data which is directly accessible to the CPU of the computer. Secondary Storage: The external hard drives are known as secondary storage as they are not directly connected to the computers CPU. External hard drives store information magnetically The difference between primary secondary storage has been discussed as follows: Primary Storage Secondary Storage Primary storage refers to the main memory of the computer. Secondary storage refers to the external devices such as Compact Disk, Floppy, any magnetic device, etc. Primary storage easily access the CPU of the computer. Secondary storage does not easily access the CPU of the computer. Primary storage is connected via CPU. Secondary storage is connected via data cables. Storage in primary memory is faster. Storage done via secondary memory is slow in nature. 6. Describe the four services available from a network i.e. network services. The four services available from a network i.e. network services have been mentioned as follows: E-mail file sharing Online games World wide web (www) file server Instant messaging printing 7. List explain three benefits of using extranets. Extranet is similar to intranet, but the main difference is that it is used to select external partners such as suppliers, customers business partners to exchange the useful data or information. The three benefits of using extranet have been described as under: i. With the help of extranet, more integrated supply chains can be implemented. With the help of integrated supply chains, proper track of orders and inventory management can be practiced (Bort Felix, 1997). ii. The second benefit of extranet is to have an effective collaboration amongst the business partners to work them online on a common documentation grounds. iii. Lastly, extranet will help the businesses to improve its relationship with the trading partners improve the security measures of the same as the communication between the parties will be done under a secure environment (McKenna, 2006). 8. List and describe the five typical revenue models for e-commerce. The five typical revenue models for e-commerce are as follows: i. Advertising revenue model: In advertising revenue model, fees are generated in exchange of the advertisements done by the advertisers. For example, google.com, facebook.com, etc ii. Sales revenue model: In this type of revenue model, wholesalers retailers sell their products online. The main benefits attained by the customer are in terms of time saving, fast delivery of the product and convenience (Rajput, 2000). For example, amazon.com, buy.com, etsy, etc iii. Subscription revenue model: In this type of revenue model, users are charged on a periodic basis i.e. monthly, yearly or weekly basis to incur a particular type of service. For example, xing.com, linkedin.com, zattoo.com, paypal.com iv. Transaction fee revenue model: In transaction fee revenue model, company receives commission on the basis of volume for executing the transactions. The major source of revenue is the transaction fee paid by the customers (Laudon Traver, 2002). For example, ebay.com v. Affiliate revenue model: The affiliate revenue model refers to the type of model which is based on the principle of commission. In this type of model, the merchants advertise sell their products with the help of partner websites. Commissions are provided to the merchants based on the actual revenue earned (McKercher Mosco, 2007). This model is a win win situation when they earn high levels of commission on sale of the product or service. For example, affilinet.com. 9. What are the advantages of storing information in a relational database using a database management system (DBMS)? The advantage of storing information in a relational database using a database management system (DBMS) is discussed as follows: i. Improved decision making: Well managed data better access of data helps to generate better quality data which will help to make one of the best decisions. ii. Better end user productivity: DBMS helps the users to combine its data with various tools to convert the data into useful information (Dhillon, 1997). iii. Data security: It has been seen that, when more number of users access the data, the security of the same becomes at risk. With the help of database management system (DBMS), a framework is provided to provide better data privacy security policies (Kim Solomon, 2012). iv. Better sharing of data: DBMS helps to create an environment which helps the users to have better access of data. Such type of an environment helps the users to respond quickly (Fisher, 1984). v. Better access of data: DBMS helps the end users to have access of the prompt queries. 10. Contrast technological safeguards and human safeguards in information systems, security, using examples to illustrate your points. Technological safeguards refer to the safeguards which are built to protect the information as well as control the access of the same. Some of the measures which are used to safeguard the information are the limit to access the electronic information, use unauthorized information, etc. Some of the elements which are taken into consideration in case of technological safeguards are as follows: Integrity Access control Authentication identity Audit control Human safeguards refer to the measures taken by personnel to measure as well as protect the hardware facilities in store. It has been seen that, threats either in paper or electronically creates problem as a whole. Therefore, various policies procedures shall be taken place in order to safeguard the information technology (Jemielniak, 2012). Some of the elements which are taken into consideration in case of human safeguards are as follows: Device media control Security of the workstation Access to control of the technology Use of the work station References Aloini, D., Dulmin, R. and Mininno, V. (2007). Risk management in ERP project introduction: Review of the literature.Information Management, 44(6), pp.547-567. Amar, A. (2002).Managing knowledge workers. Westport, Conn.: Quorum Books. Anon, (2015). Awad, E. and Ghaziri, H. (2004).Knowledge management. Upper Saddle River, N.J.: Prentice Hall. Bort, J. and Felix, B. (1997).Building an Extranet. New York: Wiley Computer Pub. Dhillon, G. (1997).Managing information system security. Basingstoke: Macmillan. Fisher, R. (1984).Information systems security. Englewood Cliffs, N.J.: Prentice-Hall. Frappaolo, C. (2006).Knowledge management. 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