...Journal The Evolution of Information Management By Don Hatcher, Bill Prentice Customers today are demanding better service, lower prices, and higher quality goods. With such a volatile economy in recent years and with so many businesses competing for the same customers, it is imperative for companies to continually improve their customer service or else risk falling victim to their competitors. This is one reason why many organizations are rethinking how they do business. For years, they have accumulated valuable information as a by-product of production while failing to put it to good use. When a company knows its customers’ buying patterns, interests, and demographics, it provides a distinct competitive advantage. This knowledge has become so critical in recent years that the process of managing information has become an industry of its own. How does a company manage its strategic information assets in today’s rapidly changing business environment? What challenges arise out of that task? Are there any preventive measures that can ease the “growing pains” associated with moving from one information paradigm to the next? No matter how simple or convoluted the current information architecture is, evolving companies’ effective use of information can help them achieve a level of sustainable competitive advantage that can be measured on the bottom line. [pic] Figure 1. The Information Evolution Model and its Five Levels The Information Evolution Model Companies...
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...1) List and explain four (4) major types of information system in organization. (20 marks) Successful organizations no matter large or small will used available and good technologies to manage business activities and assist in decisions making. They use the information systems to collect data and process it due to the needs of the analyst, manager or business owner. Businesses operate more efficiently by using varied information systems to interact with customers and partners, curtail costs and generate revenues. a) Transaction Processing Systems A Transaction Processing Systems (TPS) is the computer system — both hardware and software — that hosts the transaction programs. The software parts of a TPS usually are structured in a special way. TPS is to complete the data collection, storage, processing and the output as product for the core operations of a business. TPS information systems collect data from user inputs and then generate outputs based on the data collected. An example of TPS system could be an online movie ticket booking system. In such a system, people select their schedule and favorite seats (the input), and the system updates the seats available list, purchase those selected by the customer (the processing). The system then generates a bill and a copy of the ticket (the output). TPS information systems can be based on real-time or batch processing, and can help businessman full fill customer request without any additional staff or cost...
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...with a really efficient information system. We are now going to describe the different business processes shown in the video that retraces the entire journey of a package. 1. First a FedEx employee goes to the house of the customer and picks up the letter or the box the customer wants to send. The employee immediately scans the product so FedEx recognizes it. From this moment on and until the end of the process, FedEx will be able to know where each package is. When the pick-up tour ends, the truck goes to a sorting center to transfer the packages. 2. Once in the warehouse (called sorting center), all the packages need to be classified. Some of them are headed to the US; others are going to Europe or Asia for instance. First the package is put on a belt where it is measured (length, height, weight, volume) it tells FedEx how much to charge the customer for the shipping. Then the package goes under a scanner that reads the destination and puts the box in the right belt. If the machine cannot scan the box then the package is sorted out manually. 3. The third step is to put all the boxes in the right container and to fill it up at its maximum. The container is designed to fit in perfectly with the shape of the plane. Then it is weighted after that and then it goes to the plane. 4. After that the containers are loaded in the aircrafts directed by a control tower. There, employees check the weather, the location and all the information to make sure that the flight...
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...improve customer service, reduce operating costs, and create new products and services. Management perspective: It is highly unproductive for managers to be spending time collecting, processing, or even locating data and information necessary for decision making. Instead, managers should be spending their time applying information and bringing to bear their knowledge and experience in solving problems. This is possible only if information is readily accessible as and when necessary and in a format that is readily applicable to the problem at hand so that managers can use the information to enhance the quality of decisions that they make. Organizational perspective (Employee, Customer/Client): Better Management Information Systems will ensure more efficiency. Thus, Employees as well as Customers will be elated by them. Upgraded Management Information System will lead to improved processes resulting in lesser errors, easy processing and time saving. Further, customers can be elated by improved CRM system. CRM system can be used to track and organize the current and prospective customers. Information about customers and customer interactions can be entered, stored and accessed by employees in different departments. Security perspective: Business frauds and attacks necessitates that banks must have a good internal control over the system’s security so there will be no leaking of information to the public about the bank standings or recent security threats or any exposure about the...
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...case, the Yankees' use of information systems in their new stadium can be seen as an effort to achieve which of the primary business objectives? A) Operational excellence B) Survival C) Customer and supplier intimacy D) Improved decision making 2) Journalist Thomas Friedman's description of the world as "flat" referred to: A) the flattening of economic and cultural advantages of developed countries. B) the use of the Internet and technology for instantaneous communication. C) the reduction in travel times and the ubiquity of global exchange and travel. D) the growth of globalization. 3) The six important business objectives of information technology are: new products, services, and business models; customer and supplier intimacy; improved decision-making; competitive advantage; operational excellence, and: A) flexibility. B) survival. C) improved business practices. D) improved efficiency. 4) The use of information systems because of necessity describes the business objective of: A) survival. B) improved business practices. C) competitive advantage. D) improved flexibility. 5) Which of the following choices may lead to competitive advantage (1) new products, services, and business models; (2) charging less for superior products; (3) responding to customers in real-time? A) 1 only B) 1 and 2 C) 2 and 3 D) 1, 2, and 3 6) Verizon's implementation of a Web-based digital dashboard to provide managers with real-time information such as customer complaints...
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...our nation [FICCI]. Organized retail industry in India is bound to grow by leaps and bounds. This growth is driven by rapid changes in the sector, especially due to advanced technological improvements, consumers’ purchasing pattern and a market that supports healthy competition. What is MIS? Management Information Systems (MIS) is a system that utilizes the information that it gathered from both Internal and External sources of an organization. It then processes this data and supplies the information to the Management who assist them in decision making. These decisions could vary from replenishing the inventory to improving a particular product. MIS highlights the relationship between people, process, technology, and the organization. MIS plays a crucial role in the growth and development of retail industry. It assists by providing real-time and accurate information that is integrated across several databases and systems. The ulterior motive is to aid in the decision-making process. It enables the retailer to communicate with his suppliers as well as the consumers. MIS in retail includes Customer Support, Inventory Management, and Financial Management System that includes Receivables, Payables, Income and Expenditure. MIS is a powerful tool that provides operational excellence to...
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...In order to clearly define my role as head of the Information Technology (IT) at Magnum it’s important to highlight the role of Information Technology in organizations and how it is being utilized in organizations. Thus, giving a better understanding of how I define my role within our organization. Information Technology (IT) has become a vital and integral part of every business plan. Information Technology plays a significant strategic role in the management of an organization. The use of Information Technology has become a major part in the decision making process of an organization; ensuring that data is readily available for management. With the assistance of an Information Technology Manager, organizations have more information at their disposal that ever before, modern IT improves good organization and usefulness at each stage of the decision making process. Effective use of the information systems aid greatly in the processes of organization wide knowledge and actively integrate into the existing culture of the organizational. For many companies, email is the principal means of communication between employees, suppliers and customers. Email was one of the early drivers of the Internet, providing a simple and inexpensive means to communicate. Over the years, a number of other communications tools have also evolved, allowing staff to communicate using live chat systems, online meeting tools and video-conferencing systems. Voice over internet protocol (VOIP) telephones...
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...Class Lectures of Management Information Systems (MGT: 305) Introduction: System: System means interrelated set of elements. MIS: Management Information System means managing information resources in a systematic way. Chapter: 01 (Managing the Digital Firm) Q#01: Management challenges while building an information system: 1. 2. 3. 4. 5. Designing competitive and efficient system Understanding system requirements of global business environment Creating information architecture Determining business value of information system Designing system in such a way so that people can control, understand and use in a socially ethically responsible manner. Q#02: What is an information system? An information system is a set of interrelated components that collects, process, stores and distribute information to support decision making, coordination and control in an organization. In addition to supporting decision making, coordination and control information system may also help managers and workers analyzing problems, visualizing complex subjects and creating new products. Core Functions of Information System: INPUT PROCESS OUTPUT FEEDDBACK 1. Inputting 2. Processing a) Classify b) Arrange c) Calculate 3. Outputting 4. Feedback Q#03. What are the changes that occurred in the business world in the recent past? 1. Globalization 2. Industrial economies 3. Transformation of the enterprises 01.Globalization: Globalization is the...
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...Total word count: 2983 Introduction The STAR organization has only done business locally in Leeds in the United Kingdom, and seeks to expand its business on a global scale. To make this happen, STAR would require developing a competitive strategy which in due course helps the organization in achieving a competitive advantage. This report will touch on how an information system can greatly benefit STAR in terms of global expansion and change the dynamics of running businesses efficiently, as well as the impact of having it. Without a doubt, any new implementations to any organization will have its advantages and disadvantages, but the latter can be kept to the minimum, or even eliminated, if appropriately dealt with. 1 – Potential of IT systems The Ansoff Growth Matrix is a marketing planning tool which aids a business in defining its product and market growth strategy. As shown below (Fig 1.1), market development is the name given to a growth strategy where the STAR organization seeks growth by targeting its existing products to new market segments (QuickMBA, undated). Fig 1.1 – Ansoff product/market growth matrix (taken from http://www.tutor2u.net/business/strategy/ansoff_matrix.htm) The major goal of market development is to attract a new customer segment, using a slightly different strategy, into consuming an existing product (Ansoff, 1984, p455). According to Riley (2012), various market development strategies include; * New distribution channels i.e. changing...
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...Business Information System A management information system (MIS) provides information that organizations require to manage themselves efficiently and effectively.[1] Management information systems are typically computer systems used for managing. Management information systems are distinct from other information systems in that they are used to analyze and facilitate strategic and operational activities.[2] Academically, the term is commonly used to refer to the study of how individuals, groups, and organizations evaluate, design, implement, manage, and utilize systems to generate information to improve efficiency and effectiveness of decision making, including systems termed decision support systems, expert systems, and executive information systems.ref name=obrien/> Many business schools (or colleges of business administration within universities) have an MIS department, alongside departments of accounting, finance, management, marketing, and may award degrees (at undergrad, masters, and PhD levels) in MIS. Kenneth and Jane Laudon identify five eras of Management Information System evolution corresponding to the five phases in the development of computing technology: 1) mainframe and minicomputer computing, 2) personal computers, 3) client/server networks, 4) enterprise computing, and 5) cloud computing.[3] The first era (mainframe and minicomputer) was ruled by IBM and their mainframe computers; these computers would often take up whole rooms and require teams...
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...last four decades, there has been a significant growth in the service and information sectors of the economy. This growth explains the increasing importance of the Management Information Systems (MIS) discipline which studies the development, use and management of information systems (IS). Computer and IS skills have become required for most professions. This course is an opportunity for the students of the TBS to be introduced to such an important field. One of the main objectives of the course is to provide the students with basic IS skills (at the conceptual level) and to familiarize them with the technical jargon in order to bridge the communication gap that may exist between them and IT professionals. Good communication between end-users and IT professionals is crucial to the successful development, implementation, management, and strategic use of IS. Another important objective of this course is to expose the students to various issues surrounding the management of IS and to help them to understand the strategic implication of IS. More specifically, the following topics will be covered: ● IS concepts, models, and basic theories ● Information Technology (Hardware and Software) ● Role of IS in the Organization ● Strategic Use of IS ● IS Development ● Integrated IS (ERP, SCM, CRM) ● e-business and e-commerce RECOMMENDED TEXTS: 1. Ken C. Laudon & Jane P. Laudon, Management Information Systems, 12th Edition, Prentice Hall. 2. The teacher’s lectures notes...
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...Hospitality Information Systems and Users Paper Kim Sullins BIS/303 October 26, 2015 Craig Wheeler Hospitality Information Systems and Users Paper Inventory tracking is the controlling and overseeing of storage and the ordering of components that many companies use in producing items. Inventory tracking used also for overseeing and controlling of finished products for sale. A company’s inventory is their investment and a part of their assets that has sold and used in the company as part of its production. Inventories that are mismanaged may create sizeable financial and inventory problems for companies, whether the mismanagement results in an inventory shortage, over inventory and loss in possible sales. The two types of inventory tracking used are Perpetual and Periodic. In a perpetual (usually used in supermarkets or department stores), a continuous flow of inventory count is tracked using a point of sale (POS) check out system. This system is perfect for companies to manage what has sold and reorder when a reorder point has reached. Another advantage of this system is its ability to account for shrinkage (theft) and inventory turnover. The periodic system (used in smaller retailers) used to take a physical count of inventory at periodic intervals to...
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...1.2 COMPANY PROFILE Infosys Technology Limited (NASDAQ: INFY) was started in 1981 by seven people with US$ 250. Today, there are global leaders in the "next generation" of IT and consulting with revenues of US$ 6.35 billion (LTM Q1-FY12). Infosys defines designs and delivers technology-enabled business solutions for Global 2000 companies. Infosys also provides a complete range of services by leveraging domains and business expertise and strategic alliances with leading technology providers. The offerings span business and technology consulting, application services, systems integration, product engineering, custom software development, maintenance, re-engineering, independent testing and validation services, IT infrastructure services and business process outsourcing. Infosys pioneered the Global Delivery Model (GDM), which emerged as a disruptive force in the industry leading to the rise of offshore outsourcing. The GDM is based on the principle of taking work to the location where the best talent is available, where it makes the best economic sense, with the least amount of acceptable risk. Infosys has a global footprint with 65 offices and 63 development centers in US, India, China, Australia, Japan, Middle East, UK, Germany, France, Switzerland, Netherlands, Poland, Canada and many other countries. Infosys and its subsidiaries have 133,560 employees as on June 30, 2011. Infosys takes pride in building strategic long-term client relationships. 99% of our revenues come...
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...Service Level Agreement 10/10/2013 Document Control Preparation |Action |Name |Date | | | | | Release |Version |Date Released |Change Notice |Pages Affected |Remarks | | | | | | | | | | | | | | | | | | | Distribution List |Name |Organization |Title | | | | | | | | | | | | ...
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...Management Information System 2 Marks UNIT 1 MIS Introduction 1. Data: Raw facts such as an employee’s name and number of hours worked in a week, inventory part numbers or sales orders. Information: A collection of facts organized in such a way that they have additional value beyond the value of the facts themselves. Data Information Salesperson: J. Jones Sales Territory: Western Region. Current Sales: $147,000 Units = 147 Salesperson: J. Jones Sales Territory: Western Region. Current Sales: $147,000 Units = 147 Data Processing Data Processing $35,000 12 Units $12,000 J. Jones Western Region $100,000 100 Units 35 Units $35,000 12 Units $12,000 J. Jones Western Region $100,000 100 Units 35 Units 2. Management information systems: Def 1: Information system at the management level of an organization that serves the functions of planning, controlling, and decision making by providing routine summary and exception reports. Def 2: MIS provide information in the form of pre-specified reports and displays to support business decision making. Examples: sales analysis, production performance and cost trend reporting systems. Objectives: * Routine information for routine decisions * Operational efficiency * Use transaction data as main input * Databases integrate MIS in different functional areas. 3. Describe three levels of information in managerial level Management Support Systems provide information and support...
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