Information System In Global Business Today

Components of Information system

To perform an input, processing, output, storage, and control activity that transforms data, resources, and information products, an information system depends on the resources of people (end users and specialists), hardware (machine and media), software (programs and procedures), data (data and knowledge base), and networks (communication media and network support).

• Hardware
  • All the actual tools and materials needed in information processing are included in the notion of hardware resources. In particular, it encompasses all tangible data media, such as paper sheets and magnetic disks, as well as machines like computers and other equipment. In a computer-based information system, examples of hardware include: I a computer system, which consists of a central processing unit with a microprocessor and a number of interconnected peripheral devices; and (ii) computer peripherals, which include items like a keyboard or mouse for data entry and command input, a video monitor or printer for information output, and magnetic or optical disks for storing data sources.
• Software
  • All sets of instructions for processing information are included in software resources. In addition to the sets of operating instructions known as programs, this general idea of software also includes the sets of information processing instructions needed by people, known as procedures. Software for systems, applications, processes, etc.
• Database
  • Data are arranged in a database according to the necessary structure. Data are more than just the building blocks of information systems. The definition of data resources has been expanded by managers and IT experts. The standard alphanumeric data, which is made up of numbers and alphabets to describe business transactions and other events and entities, is one type of data that can take many different forms. Sentences and paragraphs utilized in written communication make up text data. Figures and graphic shapes make up image data. Information systems' data sources are arranged into databases that store processed and organizational data.
• Network
  • Telecommunication networks like internet, intranet and extranet have become essential for the successful operations of all kinds of organizations and their computer-based information systems. Network resources include communication media and network support.
• Users
  • The use of users is necessary for all information systems to function. The individuals who utilize an IS or the information it generates are referred to as end users, users, or clients. They can be managers, salespeople, customers, engineers, clerks, and accountants. Operators of devices, network administrators, programmers, and system specialists are examples of users.

Input, data processing, data storage, output, and control are all parts of information processing. Data instructions are provided to the systems during the input stage, and during the process stage, software programs and other queries work on the data instructions. Data is shown in organized format and reported during the output step.

Role of IS in Business

The function of IS inside an organization can be compared to that of the body's heart. MIS is the heart, and information is the blood. The system guarantees that accurate data is gathered from a variety of sources, analyzed, and passed on to all necessary destinations. The system is meant to meet the information demands of a single person, a group of people, managers, etc. Through a variety of systems, including query systems, analytical systems, modeling systems, and decision support systems, MIS meets a wide range of demands. Additionally, it aids in transaction processing, management control, and strategic planning. The provision of operational data for planning, scheduling, and controlling aids junior management in making decisions at the operational level to control an out-of-control scenario. It supports top management in function control, target setting, and short-term planning. In addition to assisting top management with the implementation of business plans, it also aids in goal formulation, strategic planning, and business plan evolution.

• Enhanced capacity for decision-making
• The world village (Example: Shopping websites like eBay, amazon, etc.)
• Clever management (Example: video conference, teleconference)
• Getting the necessary information or attending any meetings online rather than in person.
• Time-traveling and space-traveling
• Users of information systems refer to the ability to conduct transactions around-the-clock as time shifting.
• Space shifting is the act of logging into the control system while seated anywhere—in the middle of traffic, a restaurant, etc.—instead of only at your desk.
• Agency fees and transaction fees
• The transaction's associated costs are decreased with the use of information systems.
• Normally, we would have to go to the broker to complete the deal, but today we can do it on our own by visiting the website, logging in, and doing it.
• Advantage over rivals

Main Improvement in Information System

• Processing Capacity
  • Enhancements to the CPU processor, such as dual-core.
• Storage Capacity
  • In the past, pen drives could only hold 1GB of data. However, it can now hold more.
• Networking Capacity
  • Internal is available to people in every region of the nation.

New in MIS

• Technology
  • Software on a Service (SaaS)
    • The information system automatic software is set up in this to assist in providing information about the system. For instance, if the phone is busy when you are calling, it will instantly alert you that the phone is busy. It also warns us when the balance is low.
  • Cloud Computing
    • It is a sort of internet-based computing in which computers and other devices are given access to shared resources, data, and information as needed. It serves as a model for enabling constant, on-demand access to a pool of adjustable computer resources that are shared. Users and businesses can utilize cloud computing and storage solutions to store and process their data at other people's data centers in a variety of ways.
  • Web 2.0
    • The internet has a vast variety of websites. Semantic web presents the webpage in accordance with the user's preferences. Web 2.0's limitation is based on the keyboard search mechanism.
• Management_
  • Smart Management
  • Virtual Meeting
    • Examples include teleconferences and video conferences. Its restriction is caused by time zone.
  • Business Intelligence
    • The machine will use its inherent intelligence to offer notification in accordance with the need. Example: When an antivirus program is about to expire, it will notify you.
• Organization
  • Reduce organizational hierarchy
  • Opportunities and problems of globalization

Reference

Laudon, Laudon, "Management Information Systems Managing the Digital Firm", twelfth edition