Systems and Operations Management, technology
The need for information systems is facilitated by numerous factors for instance, transformation in the industrial economies, emergence of global economies and changing business enterprises. The emergence of digital firms has also necessitated improvement in the information system. Firms rely on information systems to achieve their goals and objectives. Digitization has taken businesses to another level. Information technology has created a digital economy that is electronically driven.
A case in point where information systems and processes have had an impact is on the banking industry. This industry has grown gradually since the time of merchant moneylenders to the present banking systems. The banking industry is very crucial for any economy to thrive. It hence is not surprising that the industry players have adopted the information systems. This is because the importance of incorporating the information system and processes into any business enterprise are numerous. Adoption of the information systems has increased the output for many banks leading to further growth of the industry.
[...] For instance, banks can keep a record of their customers' accounts and transaction that can be accessed at a customer's convenience. This is unlike before when banks were using manual methods of recording transactions, which more often than not resulted to misunderstandings. Information systems in the banking industry have led to innovations resulting to new products, services and business models. When the industry players incorporate information systems into the industry, they can come up with new inventions thus improving the quality of services offered. [...]
[...] The objectives of a firm cannot be achieved unless the processes are coordinated. This is one of the aspects of information systems as described in the above context. Furthermore, information technology has taken business management to another level that was unimaginable before. Therefore, the need for information systems in organizations has to be adequately met if firms want to survive in the ever growing and dynamic business world. Bibliography Laudon, K.C. and Laudon, J or 2013. Essentials of Management Information Systems. 9th or 10th ed. [...]
[...] Information systems and technology enhance customer and employee relations, and it results to efficiency. For instance, when a customer loses his or her ATM or credit cards, the bank can be able to cancel them to ensure that they are not used by anybody else. The bank can keep records of its clients, and this reduces cases of theft and forgery. This is unlike the physical economy where processes are slow and by the time an individual reports such an incident damage might already be done. [...]
[...] Some of the departments have greater mandates and hence mostly result to confusion and disorder. Incorporation of computer-based systems should be given priority to enhance efficiency. After being in business for twenty years, Ninak Fireworks has not advanced in its operation, and that is a drawback for the company. Development of strategic planning systems has led to easier management of activities in organizations. Therefore, Ninak Company would perform better if they incorporated the system into their programmes. This would lead to higher productivity and coordination in the company. [...]
[...] An information system helps in organization of events and enhances efficiency. Lack of information system in the logistics department where labelling and is done manually could result to costly mistakes as those in charge rely on written information to process the order. The stock control clerk is not able to keep a valid record of stock needed, and the firm sometimes runs out of stock. This is a drawback to the company as it results to reduced productivity when people fail to produce since there are no inputs. [...]
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