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•Focus on Digitalization and increasing integration of information technology into various aspects of service provision and business processes.

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Foundation of IT in a place is very crucial for most business. Organizations can use IT resource to create innovative and strategic process that helps business to reach beyond the status quo. Organization without new technologies resources can lose momentum and fall behind in competition. On the other hand, organizations with effective and updated technologies remain competent and superior; get competitive advantage thus acquire and maintain their big market share.

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IT governance incorporates ideas and information about the way you execute your business strategy. It is about how you operationalize and capitalize on market opportunity. It is only at the lowest levels of division that IT governance is about decision rights, compliance, regulations, standards, and policies. And while not to minimize the extreme importance of these elements for IT governance, I do declare that if your IT governance solution is primarily about being compliant, etc., and secondarily about business execution, then neither your IT organization nor your business is likely to benefit from your implementation. You will have missed the opportunity that IT governance offers.

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Figure 9.3. The table below is similar to Figure 9.3; it shows the five functional areas of an

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The major elements are cost efficiency, eliminating wastes, and researching future IT investments. In the IT Doesn’t Matter article, three main points were outlined, and they were spend less, follow, don’t lead, and focus on vulnerabilities, not opportunities. Overspending has always been a major issue in regards to applying new technology, and it is important to execute an IT budget for any organization. Office Depot adopted new technology to improve all of their operations, especially in the supply chain. They were able to increase efficiency, while modernizing their budget. Information technology can benefit any organization if they are researched thoroughly and will improve the business needs of the organization. If it will not improve the business needs, there is no need to invest in expensive technology. The most important phase in the system development life cycle is the systems analysis phase. The goal of this phase is to identify what problems need to be fixed and breaking down how the system will benefit all users. Therefore, the business needs need to be identified and outlined before new technology is adopted into an organization’s business model. Once new technology is applied, organizations must continue to research information technology. If organizations follow these elements of

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IT governance reflects broader corporate governance principles while focusing on the management and use of IT to achieve corporate performance goals. Because IT outcomes are often hard to measure, firms must assign responsibility for desired outcomes and assess how well they achieve them. IT governance shouldn’t be considered in isolation because IT is linked to other key enterprise assets (i.e. financial, human, intellectual property, physical and relationships). Thus, IT governance might share mechanisms (such as executive committees and budget processes) with other asset governance processes, thereby coordinating enterprise-wide decision making processes.

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• Governance and oversight: Assessing business model and strategy changes and reinforcing the importance of sound corporate governance appropriate for the size and complexity of the individual bank. A specific focus will be on determining the adequacy of strategic, capital, and succession planning. Examiners will assess whether the plan is appropriate in light of the risks in new products or services. If applicable, examiners will assess the bank’s merger and acquisition processes and procedures.

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Each aspect must hold its importance so stakeholders can effectively select and acquire a new system. It takes a strong leader to guide the best of each department in selecting an information system to share the organization. Goals should arise from analyzing previous system errors so that they strategically improve those errors. Clearly communicating, developing, implementing, and maintaining goals and outcomes during the strategic change of an information system are vital to say the least.

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The United Bank is an organization that engages in banking and uses Information Technology to help serve customers from banking firms better. The firm’s headquarter is located in the United State with potential of venturing internationally. The purpose of this Information Technology Strategic Plan is to presents initiatives that the bank must undertake to achieve the continued success and improvement of the Information Technology at the banking sector. This strategic plan involves the uses of SWOT analysis as the centerpiece initiative to achieve the future of this firm using modern technology, such as, cloud computing. The plan will accelerate the future of this firm by automation and streamlining of many of the manual and fragmented processes that the firm is currently using. The results of this analysis are therefore proposed as Information System applications, like, Knowledge Management System Application, Automatic Files and Data Transfer as well as Cloud Computing to help serve customers efficiently and effectively thereby increasing revenue earned. The results of this analysis also generate various policies requirements to be adopted by the bank so as to realize revenue increase from the current $5 million to $20 million per year. The plan therefore, shows how customers in the banking sector can conduct basic banking transactions electronically at their

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Many organizations are working with large amounts of data and important information that can be detrimental to the survival of their business, and organizations typically rely on information systems to manage and carry out their operations. Information systems can be described as an integrated set of components used for storing, collecting and processing data for providing information, digital products and knowledge (IMGI, 2006). For this paper, the strategic analysis decisions along with what we may need to watch out for pertaining URL for the IT field is discussed, along with the impact that these decisions will have on the company. Furthermore, the potential changes in IT related to innovation and organizational process is also reviewed,

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Bank Solutions, for a while, has been thriving and dominating the market place in its scope of specialty under the new management, owing the irrefutable success to the rigorous changes that have been undertaken since the new managerial executives took office. However, after a rigorous audit undertaken on the firm and its operations, it has come to our attention that Bank Solutions has operations and regulatory risks posing as a great security threat, and could prove disastrous for the institution and its existence. Despite the glorious flourishing of this firm, the flawless returns coming in day after the other and the incrementing numbers of customer institutions and partnerships, there are underlying threats that if not urgently addresses, in case of a disaster would see the firm to its turmoil. Below are findings relating to interoperability, security and operation gaps.

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Such companies have to deal with multilayer transactions with different stakeholders like customers, merchants and banks. Improved IT infrastructure will help in enhancing the speed of the transactions and can improve the profit figures

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• 30 Works Cited

To facilitate the process of achieving this goal, JKB has strategic partnered in different capacity with various organizations. A good example is the selling of its 4.8 million shares, an approximate 4.8% of its market capitalization, to Odyssey Reinsurance Company, a strategic foreign investor. The investor possesses financial capabilities and competence needed to push the bank forward. Similarly, its partnership with Microsoft Jordan was also another strategic move worth noting. The partnership guarantees the bank continuance support and consultation on key technologies that are effective in supporting the bank’s activities. Adopting, integrating and aligning technology with the business strategy of an organization has been regarded as an essential source of organization’s competitive advantage. The role of technology in IT has particularly been emphasized (JKB 2011; Zawya 2011; Betz 2001).

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By combining strategic business and management skills, CIOs play an active role in the product/service development as well as marketing and sales. They focus on issues such as business and IT alignment, attempt to uncover IT-enabled business opportunities and apply IT initiatives to streamline business processes. These business processes are made possible by Service-Oriented Architecture (SOA), which is an agile, responsive infrastructure that makes it easier to create processes that support business needs. Inorder to achieve this, Diane Offereins has implemented a Business process transformation requiring the transformation of the strategic vision of the ‘Discover Financial Services’ into operational reality. This has been realised by fundamentally changing the way IT delivers solutions to the business by using an SOA to enable a flexible, dynamic and effective IT infrastructure that can support the globally integrated enterprise. This has led to better access to data delivered efficiently and at less cost. An example is an ATM transaction and mobile payments at ‘Discover Financial

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Since the inception of Information Technology (IT), the business world has been transformed. In many aspects of business, IT contributes remarkably in increasing effective usage of time, efforts and financial costs. This article is going to outline some examples of IT efforts that run, grow, or transform the businesses it serves, thorough increasingly important layers of business operation and management. Those layers are finance, communication and systems.

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