Info Systems Design/Implement Essay

3. Explain two methods that can be used in order to identify realistic estimations when developing a budget. [2.2]

Information Management System (IMS) refers to a database that integrates financial and other information in organizations from different levels of management and produces regular reports. Starbucks is one of the firms that have implemented IMS. This paper describes IMS for Starbucks, its impact on competitive edge and how it helps to coordinate supply chain partners and to monitor inventory levels. The paper also explains why managing information is better than moving products.

3. Explain two methods that can be used in order to identify realistic estimations when developing a budget. [2.2]

The budget process for each year begins by examining how much was spent each month. For each month, a budget is created for the following year. Staff members at the unit level impact the budget with supply usage.

| Research the area in which your business is located, and do calculations in the

Analyze the steps required for budgeting, such as preparing a budget, making a financial plan, conducting a cost-benefit analysis, and making budget decisions.

Once a budget has been received, a budget officer goes over the prepared document and balances the proposal based on what is being requested and develops a recommended budget. From there the budget is submitted to the governing authority, in this case the Department of Corrections.

Budget can be modelled in a spreadsheet. For a successful budget, a plan is needed. The term budget means that an amount of money given to individuals or groups to be used for a particular purpose. If the business does not check their cost then it may face bankruptcy. If people do not keep track of their budget then they might end up in debt sometime. For example the university tuition fees. The tuition fees are so high that students end up taking loans of £27000-30000. But the students cannot return the loan they took as a result they end up committing suicide or sometimes face mental depression. This happens because they don’t have a budget control and also they don’t keep track of the money they are spending.

An informatics needs assessment is a critical step in the selection and implementation of the Electronic Health Record (EHR). The purpose of a needs assessment is to understand the organization and the needs of the organization well enough to boost the positive impact of an EHR while minimizing the negative effects (American Medical Association, n.d.).

The budgeted income statement, cash flows, and balance sheet follow in order. The income budget relies on the revenue and expense forecast from the operating budget, while the budget cash flows are planned for financial and investment activities. A final component of the budget process, the projected balance statement, can be used to tie in all the budgeting dependencies. Once a budget has been prepared, evaluation can be expected before approval. Budgetary components may require several iterations before finalizing the organizational budget.

The central challenge that budget developers encounter is predicting what the future holds for the internal business and external factors. Reading the future is something that can never be done with perfect precision. The fast pace of technological change, the complexities of global competition and world events make developing effective budgets both more difficult and more important.

As the implementation of electronic health records (EHR) progress nationwide, the concepts of interoperability and health information exchange (HIE) must be discussed. The Healthcare Information and Management Systems Society (2005, p. 2) define interoperability as “the ability of health information systems to work together within and across organizational boundaries in order to advance the effective delivery of healthcare for individuals and communities.” Interoperability is the enabling of two systems, including those that do not share

My first thought was that I couldn’t reach my desired solution by using an Access chart or table to create a form for budgeting money. It could work, but an excel spreadsheet was the correct choice since I could use unlimited cells to organize my data into rows, columns and tabs. A spreadsheet enabled me to simply enter default input data that I could use as a reference in any formula I used, thus creating an easily accessible and readable spreadsheet of organized data.

It is generally accepted that information is a vital commodity for the successful operation of today’s organizations. Nowadays modern business organizations are using computerized information systems in order to obtain such information. However as the technology advances rapidly the main issue is how can an organization should effectively use such an information system - which its management sometimes can be unpredictable - in order to effectively help the whole organization structure to improve and take the most out of it.

Management is one of the most important human activities and has critical impact on life, growth, development or destruction of an organisation. In an organisation, managers with any rank or status should understand their basic duties i.e. maintaining a sustainable conductive environment where people can fulfil their commitments and objectives through collaborative approach. (Akhtar, 2011) A manager is responsible to achieve the business’s goals, visions and objectives by planning, organising, leading and controlling. Dubrin (1994) stated that in every organisation each member of staff must plan, organise, make decisions, and control the resources they need to accomplish the results expected