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Benefits of ict in business
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Advanced information technology management contain some of the basic functions of management, for instance organizing, staffing, budgeting and control, but it also has functions that are exclusive to IT, such as network planning, software development, change management and tech support. Usually, Information technology management is used by organizations to support and complete their business operations. Having an Information technology management department in organization or company will brought many advantages and convenience to employees. It’s also help the employees in the company done their stuff or work by much more efficient and effectiveness. Some organizations use information technology management as the core or center of their business. …show more content…
As we can see, information technology will modify a company’s costs in any part of the value chain. The technology historical may bring effect on cost and is limited to activities in which repetitive information processing played a big role. These limits does not exist anymore, however even activities like assembly that mainly involve physical processing now have a large information-processing component. For example, Canon Company built a low-cost of copier installation process around materials-handling system and automated parts-selection. Installation workers have a container or bins that contain all the parts needed for the copier. The Canon’s success by this system is derives from the software that can controls the parts of inventory and …show more content…
Information technology can change the correlation between competitive advantage and competitive scope. The advanced information technology management may increase the company’s ability to manage its activities nationally and globally. It can improve the power of broader geographic scope into create the competitive advantage. Refer to the newspaper industry, publisher of the Wall Street Journal, Dow Jones, pioneered the page transmission technology that links its 17 U.S. printing plants to produce a truly national newspaper. This advance in communication plants have made it possible to move in the direction of a global strategy. Dow Jones has created the Wall Street Journal-European Edition and Asian Wall Street Journal and shares much of the editorial content when printing the papers in plants all over the world. As we can see, the information technology has becomes more widespread, the chances to take advantage of a new competitive are
Technological developments and improvements have allowed for businesses to communicate information faster and better by the use of email, live chats, and video teleconferencing. These enhancements allow for a faster flow of information in which a business can easily distribute and receive responses in real-time from its customers. It helps employees to function more efficiently by using software programs such as word processing, spreadsheet tools, statistical analysis software and computer aided design programs. With the growth of the internet and social media, businesses expose its products to a larger customer base. Others advances such as inventory management software are able to track and fill orders, and replace stock when the volume fails a pre-determined quantity at much faster rates. Digital storage of documents and information on servers and multi-media storage
The importance of a state of the art Management Information System cannot be overlooked. The system will not only allow management to better understand their department's contributions but also allow them to take the appropriate actions necessary to meet customer needs. The proposed system will ensure that Riordan Manufacturing, Inc. not only meets but consistently exceed its strategic and tactical goals within the global business community.
Supply chain management is connected with the flow of products and information between supply chain members and organizations. New development in technologies enables organization to get correct information easily in their premises. Technologies used are helpful in coordinating the activities which manage the supply chain. By this the cost of information is decreased because now we have increasing rate of technologies. In an integrated supply chain where product or raw material and information flow in a bi-directional we as managers needs to understand that information technology is more than just computers.
The case describes the evolution of IT management at the MNC during the period from 2006. At that time IT governance and the IT function itself were undergoing a complete transformation. The case follows the Vice President of Corporate Information Technology from the time of his arrival at Alcan: his observations on the current state of IT management his appointment to the position of Chief Information Officer and the development of his new strategic plan for IT management. The case presents the main features and challenges of IT management at Alcan up until the middle of 2006. The case reflects on the characteristics implications and challenges represented by IT management in a large global organization.
The evolution of Information Technology acted like a thrust in boosting the business. Many organizations invested lot of money to build IT infrastructure and analysis also indicates a rise in the percentage of amount that companies are investing in IT. IT acts as a bridge between companies and the customer’s and also brings together all the branches of an organization. The way IT is viewed has change over the time, earlier executives of an organization believed that computers, typewriters etc are meant for the lower level staff; but the trend has changed completely, managers of an organization emphasize about the value of using information technology to gain an edge over their competitors and are supporting the idea of digitizing business models. Many companies started hiring chief information officers and some of them are relying on strategy consulting firms. IT is viewed as a resource which has the potential to influence the economy.
Information Technology (IT) is a foundation for conducting business today. It plays a critical role in increasing productivity of firms and entire nation. It is proven that firms who invested in IT have experienced continued growth in productivity and efficiency. Many companies' survival and even existence without use of IT is unimaginable. IT has become the largest component of capital investment for companies in the United States and many other countries.
Asemi observe that Management Information System (MIS) is one of the information systems that is computer based. Besides, Asemi defines MIS as “an organizational method of providing past, present and project information related to internal operations and external intelligences. It supports the planning, control and operation functions of an organization by furnishing uniform information in the proper time frame to assist the decision makers,” (2011). The aim of MIS is to satisfy the general information need of the entire manager in an organization. Before the advent of computers, the process of decision-making was one that was full of built-in advantages and ad hoc methods. Computers technologies have changed the landscape of the decision-making process completely by making the process less demanding and easy to undertake. The reason for this situation is that information technology has made access to information more automated, efficient, effective, timely, and less ambiguous. Consequently, the ordinary t...
At the moment, Xerox had two clear distinct options. First option is to stick with what is best at printing, copying and delivering exclusively the Book-In-Time technology. Meaning, selling Book-In-Time equipment to all those elements of the value chain t...
Competitive advantage is the advantage for the competitors and gained by the offerings from the consumers that have the greater value either by the low prices of the products and by providing the benefits and services to the consumers that denotes the high price. It is a set of the innovative and different features of the company and the products and services sale to the consumers so that company can achieve the targets what they have decided and it is the betterment for the enterprise in the competitive market (Porter, 2011). There are three determinants which can be used in the competitive advantage that what the company produce for their consumers, their target market that what they have to achieved and the competition from the other entity
So it’s important to research the product and the vendor to make certain that you select the right system for your business. You’ve got to have a system that fully integrates all aspects of running your manufacturing business, offers advanced features and options but is intuitive and easy to use so employees can grasp hold quickly, and adapts to the way you do business rather than forcing you to adapt to the software.
Of greater importance, job-order costing system needs to accumulate three types of information which include direct materials, direct labor, and overhead. These factors are highly important essentially because of the significant variations in the products produced. Hence, each product or batch has a job identification number and costs are accumulated by a job number. All the more, job-order costing systems requires detailed accounting information and thus the total cost of all jobs is accumulated in one work-in process inventory control account; details of the cost materials, labor, and overhead for each job are kept in subsidiary records called job-order cost sheets (Edmonds, Tsay, & Olds,
Information technology (IT) strategy is long term overall plan of the company to achieve the set goal against constantly changing IT requirements (Rouse, 2012). Information strategy should align with overall company’s business strategy for the success. It strategy covers all the factors for IT infrastructure management which includes cost of software and hardware, IT resource management, vendor management and other aspects associated to IT environment. IT strategy plan should be flexible enough to accommodate the business strategy changes, new technology or technology changes, customer requirement changes and budget constraints,. Many companies opt for formalizing the IT strategy plan in a written document long with milestones and critical success factors. IT strategy is a comprehensive plan that information technology management professionals use to guide their organizations (Rouse, 2012).
In this context, management of organizations needs efficient information systems to improve competitiveness by cost reduction and better logistics. It is universally recognized by large and small-to-medium-size enterprises (SME) that the capability of providing the right information at the right time brings tremendous rewards to organizations in a global competitive world of complex business practices.
By adopting the value chain into a manufacturing company, it will gain efficiency, effectiveness, reduce the product cost and improve continuously. For example, Toyota has implemented Toyota Product System (TPS) integrated information system with the business process which allowed the company to be more efficiency, effectiveness and reduce inventory cost. (Toyota
Technology has changed modern society drastically, both positively and negatively. Technology has influenced every aspect of our life, making it simpler but not necessarily better. Albert Einstein was concerned about the advancement of technology. "I fear the day that technology will surpass our human interaction."1 Undoubtedly, what has changed the most are communication, the spread of information, and how business is practiced. Consequently, practically everyone knows how to use a computer, connect to the Internet, or use a smartphone. This is demonstrated by the way the Internet is used daily by millions of people to communicate, to sell, advertise, retrieve, and share information. Thanks to the Internet, information from anywhere in the world is at our fingertips. As a result, the advancement of technology has changed our life in many ways including; sharing of information, communication, business, education, social interaction, simplifying everyday tasks, replacing basic skills and jobs.