Read the article extract below and answer ALL the questions that follow. The Role of Information Technology in Business Success, Information technology is the study, design, development, implementation, support or management of computer-based information systems. Information technology has become very important in the business world. Many businesses use information technology to support their goal of making the business more successful in terms of performance and productivity. Organisations need to maintain enough stock to meet demand without investing in more than they require. By using information technology in inventory management, a company is able to track the quantity of each item. Electronic commerce (e-commerce) through the Internet, electronic mails (e-mails), Websites, and other facilities enables a businessman to be linked with every corner of the world, and thus opens up greater opportunities in the global market. Delays in processing a business transaction may become synonymous to wasting an opportunity. Therefore, a quick and alternative mechanism of communication, contract, and payment is an integral part of a globally competitive business. Companies are using information technology to enhance and manage their customer relationships. A company can use a management information system (MIS) to track sales data. A decision support system (DSS) is a highly flexible and interactive information system that is designed to support decision making when the problem is not structured. Nowadays, many companies have information technology departments for managing their computers, networks, and other technical parts, such as storing and protecting information. An executive information system (EIS) is an interactive management information system (MIS) combined with decision support systems (DSS) and artificial intelligence (AI). |QUESTION 4 The article asserts that a company is able to track the quantity of each item by using information technology in inventory management. Analyse the stages within the information technology planning model. QUESTION 5 The article emphasises that many businesses use information technology to support their goal of making the business more successful in terms of performance and productivity. Using practical examples, report on how information technology supports strategic management. QUESTION 1 The article states: "An executive information system (EIS) is an interactive management information system (MIS) combined with decision support systems (DSS) and artificial intelligence (AI)". Outline the attributes of an executive information system (EIS) and six (6) benefits of artificial intelligence (Al) applications. QUESTION 2 The article claims that a decision support system (DSS) is a highly flexible and interactive information system that is designed to support decision making when the problem is not structured. Summarise five (5) difficulties that executives experience when making decisions within the digital firm. QUESTION 3 The article highlights that information technology has become very important in the business world. Using practical examples, demonstrate the key capabilities of an information technology system.

Read the article extract below and answer ALL the questions that follow. The Role of Information Technology in Business Success, Information technology is the study, design, development, implementation, support or management of computer-based information systems. Information technology has become very important in the business world. Many businesses use information technology to support their goal of making the business more successful in terms of performance and productivity. Organisations need to maintain enough stock to meet demand without investing in more than they require. By using information technology in inventory management, a company is able to track the quantity of each item. Electronic commerce (e-commerce) through the Internet, electronic mails (e-mails), Websites, and other facilities enables a businessman to be linked with every corner of the world, and thus opens up greater opportunities in the global market. Delays in processing a business transaction may become synonymous to wasting an opportunity. Therefore, a quick and alternative mechanism of communication, contract, and payment is an integral part of a globally competitive business. Companies are using information technology to enhance and manage their customer relationships. A company can use a management information system (MIS) to track sales data. A decision support system (DSS) is a highly flexible and interactive information system that is designed to support decision making when the problem is not structured. Nowadays, many companies have information technology departments for managing their computers, networks, and other technical parts, such as storing and protecting information. An executive information system (EIS) is an interactive management information system (MIS) combined with decision support systems (DSS) and artificial intelligence (AI). |QUESTION 4 The article asserts that a company is able to track the quantity of each item by using information technology in inventory management. Analyse the stages within the information technology planning model. QUESTION 5 The article emphasises that many businesses use information technology to support their goal of making the business more successful in terms of performance and productivity. Using practical examples, report on how information technology supports strategic management. QUESTION 1 The article states: "An executive information system (EIS) is an interactive management information system (MIS) combined with decision support systems (DSS) and artificial intelligence (AI)". Outline the attributes of an executive information system (EIS) and six (6) benefits of artificial intelligence (Al) applications. QUESTION 2 The article claims that a decision support system (DSS) is a highly flexible and interactive information system that is designed to support decision making when the problem is not structured. Summarise five (5) difficulties that executives experience when making decisions within the digital firm. QUESTION 3 The article highlights that information technology has become very important in the business world. Using practical examples, demonstrate the key capabilities of an information technology system.

Foundations of Business - Standalone book (MindTap Course List)

4th Edition

ISBN:9781285193946

Author:William M. Pride, Robert J. Hughes, Jack R. Kapoor

Publisher:William M. Pride, Robert J. Hughes, Jack R. Kapoor

Chapter15: Using Management And Accounting Information

Section: Chapter Questions

Problem 10CC

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