Information System

877 Words4 Pages
Question 1: How are information systems transforming business & what is their relationship to globalization?
*Describe how information systems have changed the way businesses operate and their products and services.
*Identify three major information system trends.
*Describe the characteristics of a digital firm.
*Describe the challenges and opportunities of globalization in a “flattened” world.

Conventional business procedures have been evolved drastically for the last two decades. New ideas & application of the information system has changed the strategy and pace of business significantly. Internet use has been increased a lot across the world. People now tend to communicate more through e-mail, cell phone, online
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*List and describe six reasons why information systems are so important for business today.

Information systems are a foundation for conducting business today. In many industries, survival and the ability to achieve strategic business goals are difficult without extensive use of information technology. Businesses today use information systems to achieve six major objectives: (1) Operational Excellence: Businesses continuously seek to improve the efficiency of their operations in order to achieve higher profitability. Information systems and technologies are some of the most important tools available to managers for achieving higher levels of efficiency and productivity in business operations, especially when coupled with changes in business practices and management behavior. (2) New Products, Services and business models: Information systems and technologies are a major enabling tool for firms to create new products and services, as well as entirely new business models. (3) Customer and Supplier intimacy: When a business really knows its customers and serves them well, the customers generally respond by returning and purchasing more. This raises revenues and profits. Likewise, with suppliers: the more a business engages its suppliers, the better the suppliers can provide vital inputs. These lower costs. (4) Improved decision making: In the past decade, information systems and

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