The following sample essay on “Management Information Systems” discusses the IT governance abilities that enable companies to gain IT based synergies. Following current work on the contextualization of theories and drawing on the resource based view of the firm (RBV), we improve an RBV of IT based synergies.
A Key Element in Business, is Proper IT Governance. While IT can become over automated hindering employee interaction, leveraging IT successfully can provide a superior competitive advantage because creates constructive relationships, managing risks become easier, and more likely to achieve objectives through cascading goals.
To relinquish more relatable to this subject, I reflect internally at my own place of employment and as the Senior Pricing Manager.
The antiquated DDMS old system does not allow for a smooth transition from task to task while managing a department at a family owned distribution company. From working at other places of employment at much larger fortune 500 corporations I know that there are much better capable CRMs that would enable me to manage my employees, while also managing workflow and would also automate other reporting tasks that would better allow me to manage meeting corporate and departmental goals and objectives.
Information Technology (IT) governance, allows for a fuller range of capabilities that enable an organizations ability to succeed fueled by the enactment of the Sarbanes Oxley Act in 2002, which urged organizations toward establishing governance frameworks that explicitly consider IT issues. Although often originally established for compliance reasons, the question of how IT governance can provide value has quickly moved to the foreground (Kude 2015).
From a personal perspective being able to set reasonable goals in a system that can help track progress would be truly beneficial and also double being able to show your worth to an employer. Utilizing excel spreadsheets and making it a habit to take the time to have to enter into the excel log every detail of prospect bid that myself and the team works on, is very time consuming. Besides taking the time to enter manually into an excel spreadsheet, taking the time to perform the analysis on all the entries once a quarter is also very time consuming and takes me away from working on other prospect bids and possibly other projects that would also assist with brining in revenue into the company.
That said, I do find the finished product and information very beneficial to pleading my case every February during which time I go before the CEO and Controller regarding my performance metrics and where any future goals and steps are established, as well as a bonus based on the data taken from the prior year which shows the value I bring and that of my department.
First, leveraging IT successfully can provide a superior competitive advantage because creates constructive relationships. It is a truth that all business operations rely totally on their clients to survive. Therefore, it is necessary that companies not only value their clients however, additionally engage in a relationship with them to make certain of their future loyalty. Only then can organizations be sure to repeat any future exchanges. Companies can solely achieve this with the aid of presenting the best possible quality of customer service, and this also includes having compatible technologies that can also communicate.
Technology has definitely changed the way businesses engage with their customers. There are a wide variety of technological equipment and systems that can enhance consumer service and value chain systems. Companies use different technologies because it improves overall efficiency. This is also a very low-budget way to solve customer service issues such as complaints, inquiries and online orders. Through technology, enterprising companies have also succumbed to turning to their customers in working together.
Some of the technological equipment companies can use to enhance client service is social networks which assist create a virtual neighborhood between the enterprise and its customers. Questions, inquiries, and complaints can be sorted very quickly using this platform. two Websites are some other primary but beneficial tool, and outranks social networks, this have to constantly be the first contact between agencies and their customers. E-mail is the most regular way corporations communicate with their customers.
It is a satisfactory means used also as a channel for advertising and marketing campaigns; or communicating any adjustments inside the organization. This is the excellent tool to reap loyalty. Essentially, all groups comprehend that they do now not assume about the client and cannot assume about marketing. two One relies upon very a whole lot on the other. Companies use technological know-how to enhance advertising and marketing strategies which is another way of building and setting up relationships. IT resources generate more business effects in stable environments than in dynamic environments, while IT capabilities generate more business effects in dynamic environments (Ashrafi 2015)
Additionally, managing risks become easier as corporations adapt their business competency models and proprietary processes to take beneficial advantages of science and technological advances, operational risk administration and managerial practices may also additionally have to endure a reevaluation to their IT infrastructure to remain effective. Organizations that proactively assemble superior risk management capabilities in order to help keep pace with informational exchanges and have real chances to achieve massive competitive advantages because of their efficiency and ability to mitigate and more importantly manage current and future risks.
Changes to business enterprising models might have an important impact on an organizations ability regarding their operational risk management practices. Advances, such as robotics, artificial intelligent type technologies, and even computing device learning derived from data science and big data analytics, often supplying risk mitigation administrations the benefit from a process, or product or even an informational type of perspective.
As an example, automated strategies or workflows that are designed to supply a matrix or multiple level of operations, while having fewer operational dangers, decreasing threats. Machine and system learning applications might also be able to discover insights that inform the organizations management about very informed strategic options about decisions which can very much so, enhance the organizations operational risk abilities.
A unique risk with reporting mainframes that makes use of multiple automated processes might also allow businesses with close to real-time danger and enterprising information that are needed to allow for enhanced decisions. If these new applied sciences are used negatively to manipulate operational risk profiles to then the wrong amount of bad data levels could lead to dangerous levels of untrustworthy information which can grow to be a very undesirable factor.
To improve the operational risk administrations views and oversight capabilities, it is left to the senior executives and board that might align the center of these intentioned technological efforts onto three larger scale areas, starting with organizing the advancement of risk administration capabilities or future IT projects, such as predictive analytics and computerized automatic manipulation monitoring. Resource re-allocation need to be considered as agencies adopt new technologies, due to the fact some tasks may grow to be obsolete.
COBIT is achieving worldwide recognition as the authoritative source on IT Governance, IT Control Objectives, and IT Audit. It is being used globally in a variety of ways by private industry, public accounting firms, governments, academia, etc. It is being used by Boards of Directors, Audit Committees, CEOs, heads of governmental organizations, CIOs, Security Managers, Information Systems (IS) Auditors, users, etc. Specifically, COBIT is appearing as criteria in reports issued by audit organizations around the world. It is being included in audit manuals, by all types of organizations in both the private and government sectors, for use in annual audit planning and performing IT audits. Similarly, accounting firms are including it in their audit procedures when auditing IT (Lainhart 2000)
Finally, the most important reason leveraging IT successfully can provide a superior competitive advantage is that it is more likely to achieve objectives through cascading goals. Besides announcing that there are indispensable technologies for enterprise Imagine attempting to attain an enterprise that doesnt have a telephone system. Not too long ago, computer systems had been no longer viewed as necessary. That didnt cease savvy enterprise owners as seeing that they would amplify productivity, provide better customer service, and provide them a serious aggressive advantage. Todays technological know-how panorama provides even more science choices that can improve business performance. The technology that receives you there depends on your objectives.
As organizations grow, streamlining strategies will become a necessary priority to improve business performance. Todays science provides enterprise technique optimization via content material management options and workflow software program that allow corporations to restructure repetitive paper-based processes, like work order processing or money owed payable procedures. Modern verbal exchange structures also provide a way to enhance operations, via calling integrated with video conferencing, on the spot messaging and emails, key verbal exchange can happen more rapidly. Critical success factors are essential elements for an organization or project to successfully achieve its mission (Huang 2013)
Indeed, while IT can become over automated hindering employee interaction, leveraging IT successfully can provide a superior competitive advantage. Therefore, while IT can become over automated, leveraging IT successfully as aforementioned and from personal experience, can provide a superior competitive advantage because it creates constructive relationships through, making managing risks easier, and it more likely enables objectives through cascading goals.