logo

ISY2007 Management Information System Assignment(MIS)

   

Added on  2020-05-28

13 Pages2973 Words167 Views
Running head: MANAGEMENT INFORMATION SYSTEMManagement Information System[Name of the Student][Name of the University][Author note]

MANAGEMENT INFORMATION SYSTEM1Table of ContentsIntroduction:...............................................................................................................................2Discussion:.................................................................................................................................2Recent issue in the organisation:................................................................................................2Management information system: Westpac...............................................................................3Westpac’s Porters Five Force analysis and solutions:...............................................................4Threats of New Entrants:.......................................................................................................5Ways of handling the Threats of New Entrants.................................................................5Bargaining Power of Suppliers:.............................................................................................6Ways of tackling the Bargaining Power of the Suppliers:.................................................6Bargaining Power of the Buyers:...........................................................................................7Ways of tackling the Bargaining Power of the Buyers:.....................................................7Threats of the Substitute Products or Services:......................................................................7Ways of Tackling the Threats due to New Product or Service:.........................................8Rivalry amongst the Existing Competitors:...........................................................................8Ways of Tackling the Rivalry Amongst the Existing Competitors:..................................8Gaining of competitive advantage:............................................................................................8Conclusion:................................................................................................................................9References:...............................................................................................................................10

MANAGEMENT INFORMATION SYSTEM2Introduction:Westpac Banking Corporation or Westpac is an Australian bank and a financialservice provider. It has its headquarter in Westpac Place, Sydney. This bank is ranked secondamongst the big four banks of Australia. According to report of 2015 Westpac is having 13.1million customers along with being the Australia’s largest branch network having about 1429branches and 3950 ATM’s all across Australia. The name “Westpac” was first used in theyear of 1982 when the BNSW merged with the Commercial Bank of Australia(westpac.com.au, 2018). The structure of the business mainly consists of five key divisionsand they are namely Consumer Bank, Commercial and Business bank, BT Financial bank,Westpac Institutional Bank and lastly the Westpac New Zealand. This five unit serves almostmore than 13 million customers. This report mainly discusses about the issue that is related tothe information system of the Bank (westpac.com.au, 2018). Along with this the report alsodiscusses about the management of the Information system in this organisation and this isdone in terms of the Porters competitive force model. The report also highlights the ways inwhich the Management Information System helps this organisation.Discussion:Recent issue in the organisation:One of the resent issue faced by Westpac was on 13 June 2017 when the bankaccounts of the customers were locked for around three days. This lock down made thecustomers very much furious and they had blasted the bank as well. Many customers wereunable to buy their food as well due to this lock down. The day was Friday when thetechnical glitch hit the mobile and the online banking service. This glitch had thrown aboutthousands of long weekend plans of the Australian’s to disarray. There was also a case where

MANAGEMENT INFORMATION SYSTEM3a customer pleaded to the bank on the following Monday night as her property transactionwill be at risk if she was not able to transfer the funds (news.com.au, 2018). According to herthe statement was “I am trying to access my money so that I can buy food but I don’t knowall of my account numbers off by heart, so I can’t use phone banking — what is going on?”.Additionally, it was written by Jack Lewis that he is leaving this bank immediately. Thecustomers also reported about waiting for longer time in the phone lines of Westpac’scustomer service line. Along with some people also added that the call was hung up or therewas a playing message which stated that the lines were closed. The social media team ofWestpac stated in their Facebook account that only a limited number of customers werehaving this type of problem. The post also stated that the customers who are having problemin logging in to their accounts may call the bank for further assistance. Along with this thebank also stated that they are working on the process of making the customers get access totheir accounts. They also apologised to those who were affected due to this. Daniel Beilinstated that the Card less cash was not working even after the event. The customers ofWestpac demanded for the explanations regarding these technical problems as there were lotsof similar technical problems in the last few months. The spokesperson of Westpac in astatement stated that the bank is working for solving the issue that had affected only a smallproportion of the customers. Westpac also promised for reimbursing the customers who wereaffected by this incident and were incurred with fees and charges due to this outage.Management information system: WestpacThe Management Information System is used by Westpac globally for the purpose ofcollecting the information along with the maintenance and aggregation of this information forthe purpose of informing the decisions regarding the operations performed on a day to daybasis (Lee and Yu 2012). Along with this information regarding the overall managementacross the whole organisation is also provided on a timely basis. The Management

End of preview

Want to access all the pages? Upload your documents or become a member.

Related Documents
Porter Five Forces on Kogan.com Ltd
|10
|2874
|203

MGMT510 Competitive Forces
|5
|781
|45

International & Global Business Assignment
|16
|4410
|61

Strategic Analysis of Commonwealth Bank Assignment
|19
|3653
|58

Competitive Analysis of Australian Supermarket Industry through Porter’s Five Forces Model
|5
|695
|429

3112IBA Management Strategy and Decision Making
|5
|2037
|340