AFM241 Chapter Notes - Chapter 1: Block Chain, Bitcoin, Hype Cycle

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Document Summary

Information technology: the development, maintenance, and use of computer systems, software, and networks for the processing and distri bution of data. Information systems: the information technology infrastructure, data, application systems, and personnel services in an organization. In addition, the management of the organizational function in charge of planning, designing, developing, implementing, and operating the systems. Use of it: organizations use it to capture, store, manipulate, and present data in order to support the firm"s business processes and value adding activities. Cost of it: it constitutes an investment that an organization makes, and like all investments, the hope is that the present value of future benefits will be more than the cost (positive npv). Operating it expenditures: expenditures on maintaining already operational. It technology, by maintaining current infrastructure and ensuring it is running efficiently. Capital it expenditures: expenditures on new it projects th at have the potential to transform the way a business functions and competes.

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