Chapter $1$ Review Questions:

$1.$ How are information systems transforming business, and why are they so essential for running and managing a business today?

Identify three major new information system trends.

Describe the characteristics of a digital firm.

Describe the challenges and opportunities of globalization in a $$flattened$$ world.

List and describe six reasons why information systems are so important for business today.

$2.$ What is an information system? How does it work? What are its management, organization, and technology components? Why are complementary assets essential for ensuring that information systems provide genuine value for organizations?

Define an information system and describe the activities it performs.

List and describe the organizational, management, and technology dimensions of information systems.

Distinguish between data and information and between information systems literacy and computer literacy.

Explain how the Internet and the World Wide Web are related to the other technology components of information systems.

Define complementary assets and describe their relationship to information technology.

Describe the complementary social, managerial, and organizational assets required to optimize returns from information technology investments.