AFM 241- Final Exam Guide - Comprehensive Notes for the exam ( 46 pages long!)

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Chapter 1 week 1 it and is. Information technology: use of computer systems, software and networks for the processing of information and distribution of data. Example: when a sale is made: cash register, inventory system updated and purchase order placed if necessary. Use of it : to store, manipulate, present data in order to support the firms business processes and value adding systems. Information systems: combines both the technical components and human activities within the organization. In many firms, linked directly to customer"s inventory management system as well as the marketing department. Patterns in it spending over time and across industries. It spending does not need to be reported. Increased the most in 2010: growth in it spend depends on. Type of spend: can also be spilt out to operational it (supporting status quo) and capital expenditures (new investments) Now about 3% across industries: banking and financial services, - highest it spending, media and entertainment, consulting and business services.

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