...Describe the characteristics of transaction processing systems and the role they play in business [15] A transaction process system refers to an information processing system for business transactions that involves the collection, modification and retrieval of all transaction data of an organization .It can also referred to as an event that generates or modifies data that is eventually stored in an information system. A transaction process system also monitors transaction programs, a special kind of programmes, manages data that must be left in a consistent state for example if an electronic payment is made, the amount must be either both withdrawn from one account and added to the other, or none at all. In case of a failure preventing transaction completion, the partially executed transaction must be rolled back by the transaction process system. Characteristics of transaction process systems Rapid Response It has fast performance with a rapid response time is critical. Businesses cannot afford to have customers waiting for a TPS to respond, the turnaround time from the input of the transaction to the production for the output must be a few seconds or less. Reliability Many organisations rely heavily on their TPS; a breakdown will disrupt operations or even stop the business. For a TPS to be effective its failure rate must be very low. If a TPS does fail, then quick and accurate recovery must be possible. This makes well–designed backup and recovery procedures essential...
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...play in organizations. • Identify and describe the different levels in a business firm and their information needs. • Explain why environments are important for understanding a business. Q: How do information systems support the major business functions: sales and marketing, manufacturing and production, finance and accounting, and human resources? • List and describe the information systems serving each of the major functional areas of a business. Q: How do systems serve the various levels of management in a business and how are these systems related? • Describe the characteristics of transaction processing systems (TPS) and role they play in a business. • Describe the characteristics of MIS and explain how MIS differ from TPS and from DSS. • Describe the characteristics of DSS and explain how DSS differ from ESS. • Describe the relationship between TPS, MIS, DSS, and ESS. Q: How do enterprise applications, collaboration and communication systems, and intranets improve organizational performance? • Explain how enterprise applications improve organizational performance. • Define enterprise systems and describe how they change the way an organization works. • Define supply chain management systems and describe how they benefit businesses. • Define customer relationship...
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...Questions & Answers for mid-term examination Chapter 1: 1- List and describe four reasons why information systems are so important for business today? Answer: - Capital Management - Foundation of doing business - Productivity - Strategic opportunity and advantage 2- Describe five technology and business trends that have enhanced the role of information systems in today’s competitive business environment: Answer: (chapter 1: page 8) - Internet growth and technology convergence - Transformation of the business enterprise - Globalization - Rise of the information economy - Emergence of the digital firm 3- Describe the capabilities of a digital firm. Why are digital firms so powerful? Answer: - Digital firm is one in which nearly all of the organization’s significant business relationships with customers, suppliers, and employers are digitally enabled and mediated. - Digital firms are so powerful because all companies can use internet technology for e-commerce transactions with customers and suppliers, for managing internal business process, and for coordinating with suppliers and other business partners. E-commerce includes e-commerce as well the management and coordination of the enterprise. And also digital management of key corporate assets. 4- What is information system? Distinguish between a computer, a computer program...
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...responsiveness or efficiency. Describe the relationship between information systems and business processes. Information systems automate manual business processes and make an organization more efficient. Data and information are available to a wider range of decision makers more quickly when information systems are used to change the flow of information. Tasks can be performed simultaneously rather than sequentially, speeding up the completion of business processes. Information systems can also drive new business models that perhaps wouldn’t be possible without the technology. 2. Why are information systems so essential for running and managing a business today? Describe the characteristics of transaction processing systems (TPS) and the role they play in a business. Transaction processing systems (TPS) are computerized systems that perform and record daily routine transactions necessary in conducting business; they serve the organization’s operational level. The principal purpose of systems at this level is to...
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...------------------------------------------------- Traditional Information Systems Transaction processing system (TPS) Transaction processing was one of the first business processes to be computerized, thereby producing a system known as the TPS. The TPS serves as a foundation for the other information systems that may be present in an organisation (discussed later.) TPSs perform routine operations or transactions; e.g. customer orders, purchase orders, receipts, etc. The amount of support for decision making that TPSs directly provide managers and workers is low. These systems require a large amount of input data and produce a large amount of output without requiring sophisticated or complex processing. The TPS may be based on the functional structure of the organisation and may comprise, for example, order entry, inventory control, payroll, accounts payable, accounts receivable, general ledger, etc. The input data are the basic business transactions mentioned earlier (e.g. customer orders, purchase orders, receipts, time cards, invoices, and payroll checks. The two basic types of TPSs based on the processing type are batch processing system whereby business transactions are kept over a period of time and prepared for processing as a single unit or batch. The essential characteristic of a batch processing system is that there is some time lag between the moment the transaction occurs and the time it is processed and the organisation’s record updated. Available computer...
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...1. Describe three ways in which information systems are transforming business. Transformation of Industrial Economies While leading companies achieve competitive advantage through investments in IT, some are indeed negatively affected by this trend in technology. Today, customers have other preferences hence, old landline communications companies have lessen its customers; travel agencies have reduced over-the-counter sales; and entertainment industries, particularly music and film have lower revenues these past few years as compared with that in the past. But despite of these, technology convergence arises in many ways. IT has broken down boundaries and business relationships while new products and services are introduced. For example, telecommunications network are offering its subscribers with landline telephones merged with Internet services; handheld mobile telephones are becoming Internet access devices and also cellular networks provide financial services to its customers. The bottom-line of it all is that endless possibilities are in the doors of business firms, provided that they are being open to IT-enabled tools and solutions. Negatively affected industries can create new products and services, find another platform to deliver existing products and services, or take partnership from another firm. Transformation of the Business Enterprise One foremost impact of technology is the reduced employees in every organization. While traditional businesses tend to hire...
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...Katrina Cano CIT300 October 11, 2014 Chapter 2 Review Questions 1. What are the major features of a business that are important for understanding the role of information systems? A business is a formal complex organization producing products or services for a profit. Businesses have specialized functions, such as finance and accounting, human resources, manufacturing and production, and sales and marketing. Business organizations are arranged hierarchically into levels of management. A business process is a logically related set of activities that define how specific business tasks are performed. Business firms must monitor and respond to their surrounding environments. 1.1 Define a business and describe the major business functions. A business refers to a formal organization whose aim is to produce products or provide services for a profit. Every business, regardless of its size, must perform four functions to succeed. It must produce the product or service; market and sell the product or service; keep track of accounting and financial transactions; and perform basic human resources tasks, such as hiring and retaining employees. 1.2 Define business processes and describe the role they play in organizations. A business process refers to a logically related set of activities that define how specific business tasks are performed. Business processes are the ways in which a business collaborates and organizes work activities, information, and knowledge to produce their...
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...Introduction to Management Information Systems Summary 1. Explain why information systems are so essential in business today. Information systems are a foundation for conducting business today. In many industries, survival and even existence is difficult without extensive use of information technology. Information systems have become essential for helping organizations operate in a global economy. Organizations are trying to become more competitive and efficient by transforming themselves into digital firms where nearly all core business processes and relationships with customers, suppliers, and employees are digitally enabled. Businesses today use information systems to achieve six major objectives: operational excellence; new products, services, and business models; customer/supplier intimacy; improved decision making; competitive advantage; and day-to-day survival. 2. Define an information systems from both a technical and a business perspective. From a technical perspective, an information system collects, stores, and disseminates information from an organization’s environment and internal operations to support organizational functions and decision making, communication, coordination, control, analysis, and visualization. Information systems transform raw data into useful information through three basic activities: input, processing, and output. From a business perspective, an information system provides a solution to a problem or challenge facing a firm and provides real...
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...BU1410 Management Information Systems Unit 2 Assignment 1 Instructor: Willie Cooper Jr. Chapter 2 1. What are the major functions of a business that are important for understanding the role of information systems? * Define a business and describe the business functions. * According to the book “A business is a formal organization whose aim is to produce products or provide services for a profit.” * There are four major business functions. They are manufacturing and production, sales and marketing, human resources, and finance and accounting. * Manufacturing and production: assembling the product, checking product quality, producing bulls of materials * Sales and marketing: Identifying customers, making customers aware of products, selling the products * Human resources: hiring employees, evaluating employee job performance, enrolling employees in benefits * Finance and accounting: paying creditors and employees, creating financial statements, managing cash accounts * Define business process and describe the role they play in organizations. * Business process is the steps and tasks that describe how a business’ work is organized. A business process is important so that each employee follows the same steps and tasks when working for an organization. * Identify and describe the different levels in a business firm and their information...
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...All CFA Institute members and candidates are required to comply with the Code and Standards Basic structure for enforcing the Code and Standards The CFA Institute Bylaws primary principles Based on two Fair process to member and candidate Confidentiality of proceedings Rules of Procedure Maintains oversight and responsibility The CFA Institute Board of Governors Through the Disciplinary Review Committee (DRC) Is responsible for the enforcement of the Code and Standards Conducts professional conduct inquiries Structure of the CFA Institute Professional Conduct Program Professional Conduct program (PCP) The CFA Designated Officer Selfdisclosure An inquiry can be prompted by several circumstances Directs professional conduct staff Written complaints Evidence of misconduct Report by a CFA exam proctor jim do Interviewing The Professional Conduct staff conducts an investigation that may include cf a. 1. Code Of Ethics And Standards Of Professional Conduct Collecting documents and records in support of its investigation Conclude the inquiry with no disciplinary sanction Issue a cautionary letter If finding that a violation of the Code and Standards occurred, the Designated Officer proposes a disciplinary sanction ay to Process for the enforcement of the Code and Standards When an inquiry is initiated Upon reviewing the material obtained during the investigation, the Designated Officer may .c Requesting a written explanation from the...
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...Pricing and Financial Reporting: some thoughts Messaoud Mehafdi This essay deals with the perennial transfer pricing (TP) puzzle and calls for the disclosure of TP information as a way of unravelling the puzzle in the new age of corporate governance and financial reporting transparency. Seen as a by-product of "managerial ambiguity by design" in large companies and labelled as a "perennial puzzle" , TP has over the years lived up to this cliché by creating complex management and tax problems with tremendous implications for supply chains and business ethics. TP is an increasingly dominant aspect of international production and exchange of goods and services and, in addition to the continuously changing arm's length regulations, interest in the public disclosure of TP information has been gaining momentum. TP is a multifaceted global business reality that arises from intra-firm trade of tangible and intangible products across the industrial spectrum, usually in large vertically integrated companies. For many transnational companies (TNCs), the inseparable twins of intra-firm trade and TP are a prized business and financial conduit, accounting for around 60% or $1.6 trillion of global trade. Intra-firm transfers are very significant in the global service sector in general and the financial sector in particular where they are the focus of new regulation. TP is therefore a key factor in creating complex supply chains and, in order to engage investor confidence in the knowledge-based...
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...COURSEWORK SUBMISSION COVER PAGE To be completed by the student | To be completed by the markers | Module Name and code | Data Analysis and Information Management (EUZC405) | First Marker’s name (acts as signature) | | Tutor Name | Elena Voronova | Second Marker’s name (acts as signature) | | Student ID (UoW) | | For Registrar’s office use only (hard copy submission) | Student ID (WIUT) | 00003048 | | Deadline date | 25 December 2014 | | Individual assignment | | | Group assignment | | | Submission instructions Please note that all work must be submitted in both Hard Copy to the Registrar’s Office and Electronically unless instructed otherwise. For hardcopy submission instructions refer to: http://intranet.wiut.uz/Shared%20Documents/Forms/AllItems.aspx - Coursework hard copy submission instructions.doc For online submission instructions refer to: http://intranet.wiut.uz/Shared%20Documents/Forms/AllItems.aspx - Coursework online submission instructions.doc Feedback To be completed by markers Assessment criterion and/or learning outcome | Marker’s comments and second marker’s comments if appropriate | 1. | | 2. | | 3. | | Contents Table of contents 2 Introduction 3 System Benefits and Scalability 3 System Development 4 System Model 5 Glossary 5 Bibliography 7 References 7 Introduction * The chosen enterprise...
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...A firm’s external environment involves both geographic factors and cultural elements. Location and resources are crucial geographic factors influencing both national and corporate success, with population characteristics and institutional arrangements making up the most meaningful components of the cultural elements affecting both the success of firms and of nations. Resources, population and institutional factors are dynamic, manifesting a number of feedback loops. For example, institutional incentives stimulate technological discoveries, which, in turn, enable firms to pursue resourcesubstitution policies, thereby modifying production possibilities. During the period after the second world war, at least through the 1980s, Japan and Japanese firms seemed to have successfully adapted themselves to the competitive forces of emerging global markets. In spite of a poor natural resource base, a dramatically altered set of institutional arrangements (a combination of democratic government, free-markets and the rule of law) created a propitious atmosphere for innovative behaviour. Nowhere were adaptations to this altered environment more apparent than in the Japanese automobile and semiconductor industries and no firm was more successful, admired and emulated than Toyota Motor Corporation. Indicative of these changes is a Fortune magazine article, published several years ago, which provided a popular assessment of the successes of Toyota. It reported that Toyota was named the most...
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...BUSINESS DECISION MAKING Virginia Cecilia Roman H1001915 Table of contents Task 1 | | L.O. 1.1 | 3 | L.O. 1.2 | 3 | L.O. 1.3 | 5 | Task 2 | | L.O. 2.1 | 6 | L.O. 2.2 | 7 | L.O. 2.3 | 10 | L.O. 2.4 | 12 | Ask 3 | | L.O. 3.1 (see Annexes) | 13 | L.O. 3.2 | 13 | L.O. 3.3 | 14 | L.O. 3.4 | 15 | Task 4 | | L.O. 4.1 | 17 | L.O. 4.2 | 24 | L.O. 4.3 | 26 | Annexes | 28 | Bibliography | 32 | Task 1 (LO1: 1.1, 1.2, 1.3) 1.1 As the new business development manager, you have been tasked to expand the ABC Ltd business operations in the UK. To provide the right information, you need relevant information to be presented to your senior management team (SMT) to enable them make the right decisions as to whether to expand in these two countries. You are required to create a plan for the collection of primary and secondary data for the expansion project. Researchers need to consider the sources on which to base and confirm their research and findings. They have a choice between primary data and secondary sources and the use of both, which is termed triangulation, or dual methodology. The secondary data are data which have already been collected elsewhere, for some other purpose, but which can be used or adapted for the survey being conduct (Bpp, 2004, p.7). Secondary sources are data that already exists such as :previous research, official statistics, mass media products, diaries, letters, government reports, web information...
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...Based on strategic, structural and cultural challenges, discuss the drivers of Toyota’s accelerator crisis. Why was Toyota facing a recall crisis? Toyota was facing the accelerator recall crisis because the company and its management became more focused on growth and less concerned with the TPS principles the company had adhered to for much of its existence. Lean operations with a focus on the bottom line and a very lackadaisical support system in North American oversight as well as deficient TPS training proved to be a cultural disadvantage to a highly centralized Toyota management team (Gretto, Schotter & Teagarden, 2010). How well are Toyota’s management, employees and external stakeholders able to support their corporate brand? There was a clear breakdown between Toyota’s management, employees and external stakeholders. Because Toyota’s management was centralized in Japan and the U.S. operations worked in isolation from an information sharing standpoint, it was impossible for all interested parties to effectively collaborate and quickly solve the accelerator issue. There was a difficulty in training and process collaboration, especially in regards to TPS, which the American subsidiaries lacked any expertise or field knowledge in (Gretto, Schotter & Teagarden, 2010). Has Toyota effectively managed ethics and public relations in the United States? Who should be accountable for this activity? How could Toyota’s crisis management be improved? Toyota was...
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