Trust Between Business and IT Is Built Upon Agreement on Four

question 35

Multiple Choice

Trust between business and IT is built upon agreement on four elements:

• A) the role of IT, that IT is doing things, that IT is doing the right things, and that IT is positioning the organization well for the future.
• B) a need for more communication, a need for mutual understanding, common interests, and agreed upon expectations.
• C) physiological needs, IT's need for Self-Actualization Need, IT's need for Esteem, and IT's need for belonging.
• D) risk management, customer centric services, information and content management.

Recognize the importance of financial measures and their indications as lag indicators of past performance.

Understand the core principles and phases of Business Process Improvement (BPI).

Recognize the impact of globalization and technological pressures on businesses.

Identify various approaches businesses take to respond to external pressures.

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Definitions:

Cartel Agreement

A formal, explicit agreement among competing firms to control prices, production, and market shares.

Cartelized Market

A market condition where a few suppliers act together to control prices or limit market competition.

Oligopoly

A market structure dominated by a small number of large firms, leading to limited competition and potentially higher prices for consumers.

Effective Collusion

A situation where firms in a market agree to act together instead of competing, often to fix prices or market shares, to maximize their profits.