Explain the organizational requirements for innovation
What will be an ideal response?
There are three types of organizational requirements for innovation:
1. Process requirements-To deploy innovative information systems well, people in the organization must be willing to do whatever they can to bypass and eliminate internal bureaucracy, set aside political squabbles, and pull together for the common good.
2. Resource requirements-Organizations deploying innovative information systems must also have the human capital necessary to deploy the new systems. The organization must have enough employees available with the proper systems knowledge, skills, time, and other resources to deploy these systems. Alternatively, the organization must have resources and able systems partners available to outsource the development of such systems if necessary.
3. Risk tolerance requirements-The last characteristic of an organization ready for the deployment of innovative information systems is that its members must have the appropriate tolerance for risk and uncertainty as well as the willingness to deploy and use new systems that may not be as proven and pervasive as more traditional technologies. If people within the organization desire low risk in their use of information systems, then gambling on cutting-edge systems will probably not be desirable or tolerable for them.
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Put the listed steps in the corresponding parentheses in the risk assessment and response approach diagram below.(A) Avoid, share or accept risk(B) Reduce risk by implementing controls(C) Is it cost beneficial to protect the firm from the risk?(D) Estimate the likelihood of each risk occurring(E) Identify control to mitigate the risk(F) Estimate the costs and benefits from instituting controls(G) Identify the risks(H) Estimate the impact or potential loss, from each risk
What will be an ideal response?
Which of the following helps avoid scrambling to decide how to adjust marketing strategies when performance against a forecast is higher or lower than expected?
A. contingency plans B. support activities C. product development strategies D. core competencies E. marketing metrics
A letter of credit is an agreement by the bank to pay against documents rather than the actual merchandise
Indicate whether the statement is true or false.
Which is not a good guideline to use when choosing questionnaire language?
A) Avoid bias in wording. B) Do not use low-level language choices. C) Keep questions general rather than specific. D) Keep questions short. E) Use respondents' language whenever possible.