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.
The Role of Information Technology in Business Success Source:
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 success ful 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 s ystem (EIS) is an interactive management information system (MIS) combined with decision support systems (DSS) and artificial intelligence (
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.
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