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Management Information Systems Explained

   

Added on  2020-03-16

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RUNNING HEAD: REPORT 1REPORTStudent NameInstitute Name
Management Information Systems Explained_1

REPORT2ContentsIntroduction................................................................................................................................3Describe the major functions performed by information system...............................................3Define and give examples of business processes and transaction cycle....................................4Demonstrate the ability to map and document information system...........................................6Demonstrate an understanding of how organizations acquire and deploy information system.7Identify and assess some of the contemporary ethical issues related to the development and use of information systems.........................................................................................................9Conclusion................................................................................................................................11Reference..................................................................................................................................12
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REPORT3IntroductionIn the current world of fierce competition, companies are striving to become a market leader in their respective sector. In the current climate where the factors like recession or pressure from inflation with rise in competition is hindering the accomplishments of the objectives where organizations look for strategies that helps in getting competitive advantage. One of the strategy is based on adopting the effective information system within the boundaries of the organisation (Laudon & Laudon, 2016). It helps in making the right usage of data, reducing the workload among the workforce and help with right kind of compliance with many important regulations.Describe the major functions performed by information system.Following are the essential functions performed by information system: - 1.Information storage and analysis: - in the current time, there are many organizations who manages the data and information in a manual form with proper registers or hard copy based format. During the time of adopting the information system, companies must make sure to use all kind of sophisticated as well as comprehensive database thatconsist of all kind of imaginable piece of data associated with the company. It is important to understand here that databases help in storing, updating and analysing the information where the company can make use to point the solution for present or future issues (Laudon & Laudon, 2015). 2.Assistance with decision making: success in long run of a company entirely depend on the rightness of its current strategic plan. A company’s management team utilises information system to form strategic level of plans and make effective decision for theoverall longevity as well as prosperity of the business. The organization also uses
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REPORT4information system to test the information from all kind of sources consisting information from external level references like Bloomberg and many more.3.Assistance with business process: information system helps the businesses in the development of substantial number of value added services in the company. For instance, an organization can help in integrating information system with proper cycleof manufacturing to make sure that the results it produces come with the need of the many quality based management standards. Adopting information system also helps in simplifying the processes and further remove unwanted functions. Information system also adds control to employees the process, make sure that only the users with rights can work on certain things (QUANTUMGIS DEVELOPMENT TEAM. 2014).4.Considerations: implementation of information system within a company can further become very costly in process. Execution cost consist not only the installation of the current system but also the important employees training based sessions. Moreover, employees have the power to see the adoption of the information system that ask for number of unwarranted kind of changes and therefore, people resist any kind of change. Any kind of resistance to change further hinders the operations of the business and cause employee’s turnover. Define and give examples of business processes and transaction cycle.Following is the detailed discussion: -1.Analysing, posting and journalizing: - the process of accounting is important each daywith business operations to make right projections and assess the options and save the financing for the organization. The initial part of the accounting based transaction cycle consists of evaluating transactions and source the document that can associate with business processes. For instance, a business procedure may consist of purchase of ten thousand dollars of supplies on account (McFeeters, 2013). The process of
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