Information Technology In The Modern Business Environment

Words: 2013
Pages: 9
Open Document
Introduction
To introduce, it is important to know the definition of an information system and information technology. As Valacich & Schneider describe IS, an information system is the combination of hardware, software and communication networks that people use to collect, create and distribute the collected data in an organisation (Joe Valacich, 2010). All of these factors are key to a successful information system. The term information technology is a machine of technology which is controlled by or uses the information. Both terms are fairly similar. A major factor in making these work is finding the right personnel by having a highly trained workforce to run these effectively is important for all businesses.
After giving a definition of …show more content…
The Business Environment
In today’s rapidly changing environment, all businesses depend heavily on the environment for its operations in terms of labour, customers, new technology and products/ services, markets and resources. The key element for a firm to stay in business today is to keep up to date with environment changes. Businesses must adapt to political changes, economy changes, for example in times of recession, understand new technologies and also the environment itself in terms of foreign exchange rates. In a firm’s immediate environment, firms need to maintain healthy relationships with their suppliers and customers etc.
The environment is constantly changing with new technology emerging, customer preferences and regulations changing. Business can fail due to not being able to keep up with the current environment.
In an age of ever changing technology such as the internet, businesses are forced to changes their current business models or fear business closure. An example of where a business has had to change its model is photography where Kodak were forced to make digital cameras over original cameras with film in it due to customer preferences due to changes in the environment. (Kenneth C. Laudon, …show more content…
He says “Information technology (IT) has become a vital and integral part of every business plan. From multi-national corporations who maintain mainframe systems and databases to small businesses that own a single computer, IT plays a role”. (Mackechnie, 2015). He goes on to discuss various ways in which IT plays an important role in today’s environment. He says it helps for the communications between customers, employees and suppliers. Email was the more traditional approach but as technology has advanced, businesses can use live chat systems and teleconferencing using their smart phones. Inventory management has become a great success due to technology due to live tracking systems and Just In Time approach (JIT). JIT has helped businesses massively reduce their costs. I will use Glanbia plc. who have strategically used information technology and also information systems to maintain themselves as a profitable company as well as a leading company due to the way they use their systems to cope with modern business environment standards. Management Information Systems are also important in terms of data management by having tracking systems and having the ability to check profitability over time. Customer Relationship Management has also been driven by IT
Show More

Related Documents: Information Technology In The Modern Business Environment

Economic environment Essay

International Business Economic changes How has the economic environment changed over the last year, is a question full of fruitful opportunity for one to present their independent view full of statistical statements and supporting facts. The economic environment is always changing and adapting to new things. May it be duly based on convenience or innovation, the economic environment has evolved from whence it came. One of the ways the economic environment has changed is it has…

Words 304 - Pages 2

Reflective Essay

Management Information System. The Management Information System is a computerized information-processing system designed to support the activities and functions of company management. These days modern companies, actively participating in business market relations, meet the necessity to implement Management Information Systems. Hugh amount of paperwork, accounting, interactive mode, work with databases, paperless processing of documents, updating of databases can’t be possible without modern computer…

Words 1219 - Pages 5

CIS 207 Week 2 Individual Assignment Information Use Paper

Information Use Paper Jose A. Reyes-Gonzalez CIS/207 Information Systems Fundamentals 22 May 2015 IKE SHIA Information Use Paper I work for the US Army and our Information system is a vital part of our management system just like any other business/organizational management. Notably, information is an indispensable tool that facilitates crucial decision-making processes within organizations’ managers. The information used in organizations takes the form of management information system. Information…

Words 1050 - Pages 5

Business Communication: The Importance Of Intra-Organizational Communication

social networks have been on the rise. Basically, modern communication involves the developments and maintenance of virtual offices where individuals can work from convenient destinations (such as homes) and still contributes to the productivity and development of their organisations (Hastings & Payne, 2013). Thus, the modern communications have been able to facilitate communication such as teleworking refers to the working systems in an environment where the employer and the various employees are…

Words 1794 - Pages 8

Essay about Kerr deliveries

present research information Prepared and Submitted by Md. Faruk Hossain 1211736 Tutor: Mr. Kulwant Singh Executive summary In this case study “Kerr Deliveries” is a service oriented organization. They are doing courier service. The purpose of this case study is to solve the problem as an IT expert. Without information technology it is really difficult to develop the business. This modern era is about globalization. Company should adopt different system for their business to stay safe…

Words 1904 - Pages 8

Global Factors Affecting Business Essay

Global factors affecting business The way of running the business differs from country to country. The marketing, sales and technical skills are required to increase the productivity of business. Business in general is enhanced when people from different cultures find new approaches to old problems, creating solutions by combining cultural perspectives and learning to see issues from the viewpoint of others. Business Environment consists of factors influential to the business operations. These factors…

Words 1024 - Pages 5

International Barrier To EC Essay

Running head: INTERNATIONAL BARRIERS TO EC Title: International Barriers to EC Abstract In the era of digital and wireless technology, e-commerce (EC) is the key concept over the internet that allows customers to have access to any product, service or digital information available in any geographical location within few clicks. Although there are many advantages of adapting to EC in day to day life there are few international barriers that are worth researching. This article lists three…

Words 837 - Pages 4

swot and stepp Essay

external environment. Those four major categories will be used to analyse the entertainment industry. The entertainment industry is a group of sub-industries dedicated to entertainment. Generally, the entertainment industry is based on cultural arts, dance musicals, opera, music, television, and radio. The entertainment business involves investors who seek a profitable product to gain revenue in a number of ways. Strength- The biggest advantage in the entertainment industry is that information can…

Words 942 - Pages 4

Cloud Database Essay

internet-based technologies to conduct business, is recognized as an important area for IT innovation and investment (Armbrust et al., 2010; Goscinski and Brock, 2010; Tuncay, 2010). Cloud computing has spread out through the main areas related to information systems (IS) and technologies, such as operating systems, application software, and technological solutions for firms (Armbrust et al., 2010). The promise of cloud computing is to deliver all the functionality of existing information…

Words 1509 - Pages 7

Business Communication Trends Essay

Business Communication Trends Luis D. Maymí Romero University of Phoenix COM/285 Prof. Richard Valdes Gonzalez April 27, 2015 Business Communication Trends Previously, communicating in an effective, yet proper manner was about sending memos, writing business letters and so on. With technological changes, contemporary business communication is much more than that. Being able to communicate effectively is a valuable trait that can help your business career flourish. In my line of work we have to be…

Words 672 - Pages 3