Digital Economy

The digital economy is the economic activity that results from billions of everyday online
connections among people, businesses, devices, data, and processes. The backbone of the digital
economy is hyper connectivity which means growing interconnectedness of people,
organizations, and machines that results from the Internet, mobile technology and the internet of
things (IoT).The digital economy is taking shape and undermining conventional notions about
how businesses are structured; how firms interact; and how consumers obtain services,
information, and goods.

Global Challenges in MIS System

The basics strategic challenges which are mostly faced in MIS application are failure to
strategize, meeting organizational needs, hiring and retaining good employees, staying current
and integrating all your technologies. Other than that there are also main challenges in MIS
application. Cultural particularism: Regionalism, nationalism, language differences. Social
expectations: Brand-name expectations, work hours. Political laws: National laws governing
trans-border data flow and privacy, commercial regulations.

Re-Engineering

Reengineering is most commonly defined as the redesign of business processes—and the

associated systems and organizational structures—to achieve a dramatic improvement in
business performance. ... It is the examination and change of five components of the business
strategy, process, technology, organization, and culture
3RS of re-engineering reuse, re-engineering, and reverse-engineering

Types of computer Networks

o Personal Area Network (PAN)

o Local Area Network (LAN)
o Wide Area Network (WAN)
o Wireless Local Area Network (WLAN)
o Campus Area Network (CAN)
o Metropolitan Area Network (MAN)
o Storage Area Network (SAN)
o System-Area Network (SAN)

Star Bus and Ring Topology

o Star Topology
A star topology is a topology for a Local Area Network (LAN) in which all nodes are
individually connected to a central connection point, like a hub or a switch. A star takes
more cable than e.g. a bus, but the benefit is that if a cable fails, only one node will be
brought down.

Bus Topology
In this type of network topology, one computer works like a server whereas the other
works as a client. The main function of the server is to exchange information between
different client computers. Bus topology network is used to add the printers, I/O devices
in the offices or home

Ring Topology
A ring topology is a network configuration where device connections create a circular
data path. Each networked device is connected to two others, like points on a circle.
Together, devices in a ring topology are referred to as a ring network.

Merits and Demerits of Information Technology

o Merits
Communication – with help of information technologies the instant messaging, emails,
voice and video calls becomes quicker, cheaper and much efficient. Globalization and
 cultural gap – by implementing information systems we can bring down the linguistic,
geographical and some cultural boundaries.

o Demerits
Data Security.
Crime and Terrorism.
Complexity.
Privacy Concerns.
Social Disconnect.
Work Overload.
Digital Media Manipulation.
Job Insecurity.