CIS599 Discussion Responses

There are two discussions here that need to be responded to thoroughly. Responses must be on APA format 150+words 1-2 legitimate verifiable sources per response. CIS5599 discussion 1 post responses. Respond to the colleagues posts regarding: “Strategy Methodology” Please respond to the following: • Analyze the impact of economic factors on the development of IT strategy decisions at the enterprise level of the organization. • Review IT strategy methodology on page 88 of the Lane text. Explain how the IT strategy methodology can be developed to minimize economic factors. Justify your answer.   KJs post states the following: Analyze the impact of economic factors on the development of IT strategy decisions at the enterprise level of the organization. There are several factors that can have economic factors on IT strategy decisions. Prevailing economic conditions of the nation will have an effect on the spending patterns of citizens. Increases in interest rates and/or a high level of unemployment will depress consumption of non-essential goods and services. For example. when people experience financial hardship, they will spend much less on sport and recreation, holidays, new cars and luxury goods. Recession – An economic recession might force businesses to change the way they buy and sell products. Businesses might put on hold several purchases that were planned. Vendors might need to get rid of some products to make money so they might drop prices on certain products to lure businesses into spending. An example of a factor is the current pandemic. Most if not all companies have had to increase the number of employees they have working remotely. If a business did not have remote work technology in place, they had to purchase devices and get it in place. Polices had to be created to guide employees working remotely. Review IT strategy methodology on page 88 of the Lane text. Explain how the IT strategy methodology can be developed to minimize economic factors. Justify your answer. The IT Strategy methodology consists of three steps. 1. Assess Current State – this step allows one to see how the business is operating today. Questions like are the business needs being met need to be answered. 2. Define Future Vision – It is important to understand the future business strategy and how the IT organization can enable the business to achieve its goals. 3. Develop Improvement Road Map – this step allows businesses to develop a roadmap that will help them get to where they want to be in the future Bush, T., & Bush, T. B. T. (2016, July 4). Economic Factors Affecting Business. Retrieved from https://pestleanalysis.com/economic-factors-affecting-business/   CIS599 discussion 2 post responses. Respond to the colleagues posts regarding: “Economic Factors” Please respond to the following: • Reflect upon the economic factors that would lead a CIO to consider outsourcing or offshoring critical IT segments (i.e., help desk support, software development, and quality assurance) as a viable option for an organization. Analyze three economic factors that could lead the CIO down the path of outsourcing or offshoring.   • Assess whether or not economic factors lead to the same level of IT outsourcing or offshoring decisions, despite the business or industry. Explain your answer.   KJ’s post states the following: Reflect upon the economic factors that would lead a CIO to consider outsourcing or offshoring critical IT segments (i.e., help desk support, software development, and quality assurance) as a viable option for an organization. Analyze three economic factors that could lead the CIO down the path of outsourcing or offshoring.   There are several economic factors would lead a CIO to consider outsourcing or offshoring critical IT segments. • Cost Savings – A big economic factor to outsourcing is cost savings. Lower operational and labor costs are among the primary reasons why companies choose to outsource. When properly executed it has a defining impact on a company’s revenue recognition and can deliver significant savings • Increase efficiency – Companies that do everything themselves have much higher research, development, marketing, and distribution expenses, all of which must be passed on to customers. An outside provider’s cost structure and economy of scale can give a firm an important competitive advantage. • Start new projects quickly – A good outsourcing firm has the resources to start a project right away. Handling the same project in-house might involve taking weeks or months to hire the right people, train them, and provide the support they need. • Reduced Liability – Many functional areas in a business carry with it a certain amount of liability such as the proper filing of various state and federal tax returns and reports. Other functional areas depending on the business might have liability exposure depending on the risk of the activity. Outsourcing these functions can reduce both liability exposure and possible insurance costs. Liability details need to be discussed with the vendor in advance of any agreement. Assess whether or not economic factors lead to the same level of IT outsourcing or offshoring decisions, despite the business or industry. Explain your answer.  I think economic factors can lead to the same level of IT outsourcing decisions. All the factors listed above can be found in any business or industry like cost savings and increase efficiency. Richard Weinberger, PhD. “6 Outsourcing Factors for Small Businesses to Consider | Page 2 of 2.” All Business, Dun & Bradstreet, 22 July 2014, www.allbusiness.com/6-outsourcing-factors-small-businesses-consider-16879-1.html/2. “The Benefits of Outsourcing for Small Businesses.” The New York Times, The New York Times, 1 Jan. 2008, archive.nytimes.com/www.nytimes.com/allbusiness/AB5221523_primary.html?mcubz=1.