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Northeastern University
Honors Program
HONR 1101
Osborne Jackson

HW COMMENTS: This first assignment is to get you into an analytical frame of wind and to get you oriented towards  employing the rigorous authoring style required in this course.  The case study itself is intentionally  light weight to force you to fill in the gaps based on personal experience.  Here as throughout the  course, I would like you to draw on your own experiences to fill in the gaps. At a more didactic level, this assignment is about mapping IT enables information systems to a  standard business process (the working of an ATM machine).  Let's see how well you did. In terms of the B of A Case, your questions are somewhat complete but could be a lot better.  My  comments that follow should help to better understand the BofA case and perhaps assist you as  you approach future assignments within MISM 2301. In Q1 –  I provide the first two core processes as examples.  But what are the others for the Bank.   Does your list include: collecting and managing financial assets – deposits, trusts, investments, etc. issuing and managing loans, mortgages and credit card accounts investment management marketing, branding, and “sales” customer servicing product and platform development (limited but present). In its simplest form, the bank collects money from depositors and invests this money, pay interest to  depositors and retaining the delta between the investment earning and what they pay out.  On the  other hand, the Bank loans money to individuals and businesses at higher rates than it pays  depositors.  Here too it keeps the difference but it also shoulders the risks.  How complete were  your responses?  Remember IT and Information security are not core business processes they are  enablers of core business processes.  Please note that while IT is essential to all aspects of  banking, it is not a core process ­ it is an enabler of core processes. Q2 ­ You include your steps which is the easy part of the assignment.  But do you do equal justice  to the work of the ATM and backend Banking systems.  Here the table helped you with your  thinking and so you did pretty well.  Remember that in the future you will not have the benefit of  your instructor’s answer template design (smile).  Furthermore, when you think of a business  process, you need to include all of the major steps, especially in automated processes like an ATM  where the machine takes on a major role and information systems do much of the real work.  For  example, what banking systems did the ATM need to connect with and what data needed to be  changed as a result of the transaction that you choose at the ATM? For Q3 calls upon your powers of deductive reasoning.  What general principles can you derive  from the exchanges between man and computer machine?  Your observations are more literal but  they are all the same perfectly valid.  here is the way, I look to respond to this questio interactions  with the machine are very controlled. the process is linea If the machine’s programming has not anticipated all the possible variations in  the exchange, the process will break down.  the process produces measurements of performance  and audit along the way to ensure that everything works properl key information generated by the  systemo   at the ATM§  when it was used:   §  by whom §  transaction number §  what service requested o   by each banking system§  when it was used §  by whom §  changes to the system (debits and credits to the account) For Q4, your response was somewhat complete but at times vague – both in terms of benefits to  the customer and the bank.  What about time and money saved for the bank in using ATM’s versus  bank branches; including market penetration?  For the customer you have 24X7 access to services  at convenient locations.  What about privacy and security?  What about easier/faster access to  funds – on both sides of the relationship?  What about branding and marketing via the ATM for the  bank?  I could go on…..  Think through the problem.  Explore the many facets/possibilities.  (­: And finally what did you think of the format for submitting your homework?  I didn’t ask this as an  assignment but I would like you to just think about it as we go along.  What do you like about this  approach to authoring?  What are its benefits?  When would it be of use to you in the real world  and perhaps in other classes???? Bank of America is one of the world's largest financial institutions, serving individual consumers, small and middle market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk-management products and services. The company provides unmatched convenience in the United States, serving more than 59 million consumer and small business relationships with more than 6,100 retail banking offices, more than 18,000 ATMs and an online banking with more than 25 million active users. Bank of America offers services to more than 4 million small business owners through a suite of innovative, easy-to-use online products and services. The company serves clients in more than 150 countries and has relationships with 99 percent of the U.S. Fortune 500 companies and 83 percent of the Fortune Global 500. Bank of America Corporation stock (NYSE: BAC) is a component of the Dow Jones Industrial Average and is listed on the New York Stock Exchange. In late-2008, Bank of America acquired Merrill Lynch, a long-standing, global investments and financial services firm. Even if you are not a Bank of America customer, you have used some bank’s ATM system and/or online banking services. Whether you use an ATM or a bank Web site, you are employing an information technology platform to access banking services. The services themselves are enabled through powerful transaction processing systems that allow the bank to manage, as examples: • customer deposit accounts (a.k.a. bank accounts) • customer checking • credit card operations • consumer loans • corporate loans • mortgages • trust accounts • corporate checking accounts • corporate payroll services • certificates of deposit • and in the case of Bank of America because they now own Merrill Lynch a host of other investment management services The ATM and Bank Web site allow you as a customer to access information about your own personal or corporate accounts and to carry out a range of transactions in a secure manner. From your remote location you are accessing vast computing power in the bank’s data center via data networks that provide the pathways for transaction data. The following questions require you to consider the business processes delivered to you as a consumer of banking services via an ATM and to help you expl
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