Why is India Following a Loose Monetary Policy?
Ever since the great recession ended in 2009, the entire world has been following loose expansionist monetary policies. However, after a decade of such policies, most countries in the world have now started resorting to monetary tightening. The Federal Reserve has raised interest rates four consecutive times in the past four years. The Reserve Bank […]
The Case against Export Credit Agencies
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The Benefits of Buying Local
President Trump has brought the issue of buying local to the forefront once again. He is enacting laws in support of “Buy American, Hire American” principles which he ideologically believes in. This would not be the first case wherein governments are encouraging consumers to buy locally. When government agencies procure materials for government use, a […]
What is a Project Schedule ?
What is a Project Schedule ? A Project schedule is a document that contains vital information about the beginning and ending of the each of the five phases of the DMIAC Six Sigma methodology. The project schedule is an important document because it contains information about the project team, risks that have been identified and […]
Documentation – A Control Mechanism of Supply Chain Logistics
Supply chain operations and network extend beyond domestic boundaries and global boundaries of all countries. A logistical exercise originates at the buyers end and involves multiple agencies including buyer, seller, 3PL freight forwarder, transporters at various juncture, shipping lines, airlines, various governmental agencies, customs departments at various locations and financial institutions like banks to complete […]
In this digital age with fierce competition, it is essential that managers within organization are completely aware and receptive to evolving changes. One the quickest evolving change is within information systems. This change in information systems is contributed to advances in computing and information technology.
Applying a concept that information system is strictly under the purview of IT department can lead to adverse situation for the company. Therefore, it is essential for organization to recognize information systems contribution in business effectiveness.
Development in information systems has brought opportunities but also threats. The onus is on the organization to identify opportunity and implement it. Organization needs to develop strategies, which can best utilize information systems to increase overall productivity.
The most common practice with regards to information systems is automation. Though automation is helpful, innovation using information systems give the organization a competitive edge.
Organizations are fully aware that proliferation of information systems has reduced product life cycle, reduced margin and brought in new products. In such scenario customer satisfaction alone will not suffice, organization needs to strive for customer delight.
Information systems with data warehousing and analytics capability can help organization collect customer feedback and develop products, which exceed customer expectation. This customer delight will lead to a loyal customer base and brand ambassador.
Organizations require different types of information systems to mitigate distinctive process and requirements. Efficient business transaction systems make organization productive. Business transaction systems ensure that routine process are captured and acted upon effectively, for example, sales transaction, cash transaction, payroll, etc.
Further, information systems are required for executive decision. Top leadership requires precise internal as well as external information to devise a strategy for organization. Decision support systems are designed to execute this exact function.
Business transaction systems and executive decision support systems contribute to overall organizational productivity.
Information systems have facilitated the increase in workers’ productivity. With introduction of email, video conferencing and shared white board collaboration across organization and departments have increased. This increased collaboration ensures smooth execution and implementation of various projects across geographies and locations.
Organization use information systems to achieve its various strategy as well as short-term and long-term goals. Development of information systems was to improve productivity and business effectiveness of organization. Success of information systems is highly dependent on the prevalent organization structure, management style and overall organization environment.
With correct development, deployment and usage of information systems, organization can achieve lower costs, improved productivity, growth in top-line as well as the bottom-line and competitive advantage in the market.
The readiness of workers into accepting the information systems is the key in realizing the full potential of them.
Development and deployment of information systems have revolutionized the way business is conducted. It has contributed to business effectiveness and increased in productivity.
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Communication Systems and Groupware – Information System Concepts that Apply in All Functional Areas of Business
February 12, 2025
