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Explanation of Solution
Information system provides a new way in business:
- Information system including computers, mobile handled and digital mobile devices are become the essential part of business nowadays.
- Using information system one can improve the client side relationship.
- The information system provides new way of communication for all the business. The new technologies like Email, online conferencing, the web and the Internet.
- The increased communication with clients leads to better client support and decreased the cost of other communication.
Explanation of Solution
Three major trends of information system:
- The new part of information system includes the big data, digital platform and cloud computing.
- Big data is used to analyse, process and exact the knowledgeable information from the complex and large sets of data.
- Today digital platforms are used to establish the end-to-end business between client and the provider. Digital platforms achieves improved experience for customers, partners, and employees.
- One can use the hardware and software to deliver a service over a network is referred as cloud computing. Cloud computing is an on-demand self-service and provides pay-per use concept.
Explanation of Solution
Digital firm characteristics:
- Digital firm is organization or company in which they are establishing their business.
- The core business process accomplished by digital networks which also leads to significant relationship with employers, customers, and suppliers.
- The key characteristics of digital firm as follows.
- Digital firm enables the faster decision making using the availability of data.
- They have quick response to customer needs.
- Digital firm offers flexible and effective management.
Explanation of Solution
Challenges in Globalization:
- Providing service in business become a challenge when it comes to globalization.
- Marketing for less expensive goods leads to decrease in revenue.
- Employers need to update themselves based on the technology their use.
Opportunities in Globalization:
- Customers can get 24/7 service from their business partners or suppliers.
- Reduced operational cost and transactions global size can be achieved through the information system.
- Customers need not depend on the local businesses.
Explanation of Solution
Six reasons to prove information systems are important:
- Customer and supplier intimacy.
- Through communication the customer and supplier intimacy can be improved.
- New business models, products and services.
- Using business tools and information system one can create their new business models, products and provide new services.
- Decision making
- Decision making became easier because availability of data are increased.
- Competitive advantage
- Information technology provides competence to react to the challenges and this also helps to achieve competitive advantage.
- Operational excellence
- One can achieve higher profitability in business using operational excellence of information system.
- Survival
- Using information system one can reduce unnecessary expenditure, it will increase their survival of them.
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