Critique and Risk Assessment Report: Information Systems Impact on ANZ

This report provides a critique and risk assessment of the impact of information systems on organizations, focusing on the Australian and New Zealand (ANZ) Banking Group. It analyzes how information systems have changed business managerial roles and competitive advantages, and assesses the impact of Management Information Systems (MIS) on business process engineering using various analytical approaches. The report also considers ethical and social implications, global perspectives for strategy, and evaluates the organization's strengths and limitations in managing information. Key aspects covered include communication, cost-effectiveness, globalization, job creation, security issues, system reporting, decision support, database management, and executive information systems. The assessment emphasizes the need for continuous evaluation, independent transaction checking, IT upgrades, and proper business planning to mitigate risks and ensure data confidentiality within ANZ Bank's strategic solutions.

Assessment 1: Critique and Risk
Assessment Report
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Contents
Introduction................................................................................................................................3
Analyse the impact that Information Systems has on organisations and the consequent
changes which have occurred to business managerial roles and competitive advantage due to
IS................................................................................................................................................4
Analyse Management information systems using a range of analytical approaches and assess
the impact of MIS upon business process engineering..............................................................6
Ethical and social considerations for strategic solutions............................................................8
Global perspectives for strategy...............................................................................................10
Ethical and social considerations for strategic issues..............................................................11
Assessment of organisation’s strengths and limitations...........................................................13
Conclusion................................................................................................................................16
References................................................................................................................................17
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Executive summary
Managing the information systems is the information system management that includes the
set of resources, people and procedures to acquire process, store, and transform information.
For this critique and risk analysis report Australian and New Zealand bank is taken into
consideration for the analysis. There is a different type of issues that used to be there in
managing the information in the organisation like Australian and New Zealand banking
group. For making the operation and functioning of the organisation easy the introduction of
management information system is acquired so that functioning and working can be easy.
There is the large amount of information that has to be managed and stored by the banks.
These aspects can be considered effective with the help of risk mitigation strategy in an
effective manner.
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Introduction
In this report, there is an analysis of different impacts that can be they are in the business
because of the information system. After that, there is the analysis of management
information system that can be used to develop the business processes and policies. These
processes and policies can control the threats regarding the information security. There is the
discussion of ethical and social consideration for implementing the process and policies of
the information system. In this report, the Global perspective for the strategy making of
management of information system is understood. After that information vision for the
Australian and New Zealand bank is designed so that Technology changed can be sustained
in the organisation and there would not be any risk to the information system.
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Analyse the impact that Information Systems has on organisations and the consequent
changes which have occurred to business managerial roles and competitive advantage
due to IS
There can be different impacts that can be on the Australian in New Zealand bank because of
an information system that can provide a competitive advantage to the organisation. This can
facilitate the roles of the manager that are working in the organisation. This can be
understood as: -
Communication
Banking sector required information about the client to which they are serving. Information
is required by the banks for opening an account. This information is stored in the database of
Banking groups like Australian and New Zealand bank. This information can be
communicated to the concerned department of the bank from which the particular client is
taking services. This facilitates the function of the bank as information can be used by the
multiple departments even the bank has taken the information once from the client. The
employees that are working in the Australian and New Zealand bank not have to worry about
to check the information about the particular individual (Chang & Gurbaxani, 2012).
This can be understood with the help of an example; if any person wants to take a loan from
the Australian and New Zealand bank then the bank says the present status of the loans for
that individual. It is said that the particular individual has taken the previous loan or not.
After checking this then the loan is provided. It can be checked from the information present
in the database of the Australian and New Zealand bank. In this way, it is a facility for the
functioning of the bank (Willcocks, 2013).
Cost-effective
The functioning and the working of the organisation like Australian and New Zealand bank
becomes easy with the help of managing information. This makes the work to be
accomplished in a fast manner. This helps in savings of the time of the bank those results in
cost Savings and targeting more customers.
Creation of Globalisation
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With the effective working and fast working, this bank can target a number of customers.
Therefore this Bank and the organisation that is managing information used to focus on the
Global customer that would help in the growth of the organisation with expansion.
Creation of new type of jobs
With Help of management information system, where is the creation of the new type of jobs?
The Technocrats that are associated with the management of the information are hired for
such type of work. These employees help the Australian and New Zealand in managing the
large crunch of information in an effective manner so that business process can be done in an
efficient way (Willcocks, 2013).
The negative impact of the managing the information systems are: -
Security issue
There is the threat of the security of the information data is stored in the database of the
Australian and New Zealand bank. The information can believe the by the employees that are
having access to that particular information. There can be the security threat of hacking of the
information. In this way, threat affects the functioning of the Australian and New Zealand
bank.
Lack of job security
There is less number of employees required because of management of the information in the
organisation. The work can be done easily with the help of a database and the computers.
Therefore it is the insecurity that always used to be there among the employees of the
organisation (Merali, et. al., 2012).
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Analyse Management information systems using a range of analytical approaches and
assess the impact of MIS upon business process engineering
In the past time, there was the situation of the great workload because of managing the
information of the clients. With the introduction of management information system the
workload can be facilitated as: -
System reporting
The information is first stored in the database of the organisation. After that in the form of the
report, the information can be seen by the employees of the organisation. The system
reporting enables the user to know information about the client which is stored in the
database of the Australian and New Zealand bank. This information is used in the different
operations of the banking (Merali, et. al., 2012).
System decision support
There are the different operations that require the decision making in the banking. These are
the decisions that our client oriented. Management information system enables the user to
provide the information about the particular decision that is taken for the particular client by
the system. This can be understood from the example if the particular client had withdrawn
the amount from the account kill the limit that is decided by the banking organisations then
after that limit, the particular client cannot withdraw the amount from the bank. This is the
system enabled a feature which is provided by the management information system (Kamel,
et. al., 2012).
Management system database
In this, the information is managed by the management information system. Where are the
different kinds of the bank some of the clients remain in the bank some of the client removed-
their bank account from the Australian New Zealand bank. In this situation, management
system Database used to delete the not necessary information from the database and hence
free up the memory of database of management information system (Power, et. al., 2015).
Executive information system
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There are different types of operational processes that are involved in the banking. The
different operations that are executed through the means of systems are installed in the bank.
The tracking of the execution by the officials of the bank is done by the management
information system so that there would be fewer threats to the collected data in the database
of the bank.
Expert system
This is a system that is present in the management information system that can be used by the
experts of the management information system. These are used in the case of changes that are
required to be made in the operation of the information system. These changes are made to
make the operation in the management of the information efficient and effective (Kamel, et.
al., 2012).
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Ethical and social considerations for strategic solutions
All the data of Australia and New Zealand Banking Group Limited is maintained online and
on a real-time basis. As such it causes serious threat and risk in relation to the confidentiality
of the data of its users. For the purpose, it is quite essential that Australia and New Zealand
Banking Group Limited focus on the effective development of the strategies and policies so
that the users and customers of the concerned banking group can have the trust and benefits
on the operations and the conduct of the group (Sabi, 2014). The company is required to
adopt and implement the effective strategies so that the data can be protected. For the purpose
Australia and New Zealand Banking Group Limited should cover the following areas:
Continuous evaluation of the transactions
Australia and New Zealand Banking Group Limited in order to ensure safe working must
ensure that all the transactions that occur on the daily basis are continuously evaluated so that
all there is no default and the level of transparency can be maintained. Further, the continuous
evaluation will bring a sense of trust in the minds of its customer’s in relation to the security
of the data and ancillary facts (Amaeshi, et. al., 2018).
Independent checking of the transactions
Australia and New Zealand Banking Group Limited must ensure that there is an independent
check on all the transactions so that there is no chance of any fraudulent activity and all the
parties associated with the concerned group are satisfied with the operations and the
activities. Besides, it will support the concerned banking group in having a better command
on all the operations and affairs of the company.
Focus on the up gradation of the IT technology
Australia and New Zealand Banking Group Limited should try to bring and adopt the changes
that are related to the up gradation of the technologies so that the concerned group can
represent itself in a strong position in the competitive environment. This, in addition, will
support the concerned group in occupying a better and appropriate position in the market.
Proper planning for the conduct of the business
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Australia and New Zealand Banking Group Limited must have a proper layout in relation to
its activities and affairs so as to ensure that all the activities are conducted in a proper manner
leading to the better achievement of the goals and objectives (Wehinger, 2012).
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Global perspectives for strategy
In order to expand the activities and a strong position in the international market it is essential
that Australia and New Zealand Banking Group Limited focus on the effective formulation of
the strategy so that all the areas of importance can be identified and effective measures can be
taken so that all the activities are carried out in a smooth and effective manner (Sabi, 2014).
For the purpose, Australia and New Zealand Banking Group Limited must ensure the active
participation of all the experts and specialist team who can apply their knowledge, skills and
opinions in enhancing the conduct of the concerned group.
There are various theorists that provide different sets of opinions as such a single conclusion
cannot be drawn. Therefore, it is very essential that Australia and New Zealand Banking
Group Limited properly focus on the evaluation of all the opinions and ideas so that all the
positive and negative points can be obtained. This will further ensure that the concerned
banking group can adopt the best measures so as to have better conduct in relation to affairs
of its working (Miñano, et. al., 2015).
Apart, while formulating the strategy in relation to the expansion in the global market
Australia and New Zealand Banking Group Limited should consider the changes that are
prevailing in the internal as well as external environment so that the further step can be
conducted. This will support the concerned banking group in occupying a better and enlarged
share in the market (Mukhtar, 2015).
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Ethical and social considerations for strategic issues
There are various issues that are of strategic importance and if not handled in a proper may
lead to negative results in relation to the conduct and success of every organisation.
Therefore, Australia and New Zealand Banking Group Limited must continuously work on
the improvement and monitor the activities so that all the issues can be identified and
managed in an effective manner (Belás, 2012). However, there are various issues that are
related to the conduct of the concerned group that requires keen observation by the authorities
and experts so that proper growth and development can be achieved. The major strategic
issues in relation to the conduct of Australia and New Zealand Banking Group Limited can
be:
Data analytical capabilities
The data analytical capabilities are the major issues that are being faced by the concerned
group which act as a barrier in the building the level of trust among the parties that are
associated with the company. Further, it may lead difficulty in maintaining a proper and
adequate level of transparency in the maintaining of data.
Compliance with the legal framework
Another strategic that is faced in relation to the concerned banking group is related to the
compliance with the legal procedures in relation to the conduct of the working pattern. As
such it is the area of major concern that must be observed by Australia and New Zealand
Banking Group Limited in order to avoid any legal complication in the further conduct of the
working patterns (Mukhtar, 2015).
Increase investment in the operation
There are always changes that are prevailing in both the internal and external environment
that is required to be adopted and implemented in the operations so that the maximum
benefits can be availed out of this. As such the Australia and New Zealand Banking Group
Limited must ensure that there is an effective set up of a team that can work towards the
maintenance of the balance between the resources so that appropriate investment can be done
within an appropriate framework (Dorasamy, 2013).
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