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information technology has emerged as the fundamental technology of business. information system has brought revolution in business. The barrier to communication has been over come to a great extent time and distance has been conquered to a great extent by the system.
Technology is an enabler for more effectively managing the business, but does not solve the problem unless it is tied directly to business and governance objectives. There is an urgent need for IT in underdeveloped areas where access to even the smallest bits of knowledge can have far-reaching, long term effects
Management Information system will help understand how all firms today, large and small, local and global, use information systems to achieve important business objectives, such as operational efficiency, customer and supplier intimacy, better decision making and new products and services.
Data management .By using databases and data tools you can spot trends and make business decisions. Humanity has progressed from agricultural revolution to the industrial revolution and is now moving to an information revolution.
What else can I help you with?
What are the Six challenges that face managers in the 21st century?
political and cultural differences global competition terrorism technology finding ways to balance their social responsabilities their images and their and their competitive strategies
What is the sequence of the evolution of business?
The evolution of business starts from the beginning of time for humans. First we had a barter system that traded work for goods, much like we have today. Then it goes to the feudalism of the kings and other rulers and onto mercantilism, capitalism, commerce, property rights, and finally the industrial revolution around the 19th century.
Impact of information technology on business?
Information Tech has revolutionized the phase of business around the world. Local businesses have become international due to a simple website. I.T. has helped businesses in advertising. People who check their email may suddenly have a pop up at their page ends with sales up to 60% at JC Penny's!I.T. has helped in customer service, huge corporations like Microsoft attend to customer needs through email and chat services. Networking internal and external in organizations has improved the working of businesses. Staffs and clients likewise can get in touch with the managers for feedback, progress reports and extensions.Communication has bloomed, two business organizations if they need to work together can easily do so. Hotmail, when merged with MSN was easy since the service was online. Business these days require a lot of planning, due to high tech organization systems on computers, planning can be done on an organized pattern, with schedule formats, grant charts etc. Huge databases can now be controlled and stored on network and back up drives.Together with the advancement of science and technology, technological innovations grew along with it, resulting to the emergence of new equipment and gadgets. No matter how big or small your company is, technology brings both intangible and tangible benefits to become cost efficient and to meet the growing demands and needs of customers. Technological innovations affect corporate efficiency, culture and relationship among employees, clients, suppliers and customers. The type and quality of technology used affect the security of confidential business information.Due to the burden brought by administrative tasks, like inventory, bookkeeping and records keeping, both big and small companies rely on computers to do their administrative works. The birth of Internet and online social networking sites tremendously decreased the costs of business operations. It also makes it easier for companies to use the Six Sigma management methodologies. Some firms shifted to outsourcing instead of hiring their own personnel due to the low costs associated with it. Because of the huge impact of technological innovations to companies, it is impossible for them to live with it.Commonly used high technology equipment:ComputersPhotocopierTelephoneComputer printerInternetPaper shredderMultimedia projectorTouch screen monitorsComputer mouseLaptop computersAdvantages of Technology to Business:Customer Relations. Technology affects the way companies communicate and establish relations with their clients. In a fast moving and business environment, it is vital for them to interact with clients regularly and quickly to gain their trust and to obtain customer loyalty. With the use of Internet and online social networks, firms interact with consumers and answer all their queries about the product. Establishing effective communication with customers not only creates rapport with them, but it also creates strong public image. It allows business enterprises to reduce and to cut carbon dioxide emissions.Business Operations. With the use of technological innovations, business owners and entrepreneur understand their cash flow better, how to manage their storage costs well and enables you to save time and money.Corporate Culture. Technology lets employees communicate and interact with other employees in other countries. It establishes clique and prevents social tensions from arising.Security. Modern security equipment enables companies to protect their financial data, confidential business information and decisions.Research Opportunities. It provides a venue to conduct studies to keep themselves ahead of competitors. It allows companies to virtually travel into unknown markets.Corporate Reports. With technology, business enterprises communicate effectively with their branch offices to deliver quality financial and operational reports.Industrial Productivity. Through the use of business software programs or software packages, it automated traditional manufacturing process, reduces labor costs and enhances manufacturing productivity. It enables companies to increase efficiency and production output.Business mobility. Technological innovations improved companies' sales, services, shorted lead time on receiving and delivering goods and services. Enables them to penetrate multiple markets at least costs.Research capacity. It enables them to conduct studies on various companies to gain knowledge on the new trends in the market and way on avoiding them.A recent survey of United States manufacturers asked what they thought were the most important attributes an agent must possess to succeed. "Technical product knowledge" was most valuable while "Internet marketing capabilities," even in mid1999, came in with only I percent of the vote. With the advantages of IT for the manufacturer, the agent and the foreign buyer, advocacy and praise of comprehensive technical product knowledge is misplaced and takes us in the wrong direction. Surveys such as the one cited here not only reflect the current sentiments of the people, but also perpetuate similarities and traits that make it easier for us to identify those people and companies that we want to be commercially associated with.It is no wonder that most manufacturers are unaware of this fact - what little literature there is on the subject is not readily available. Thus, with a principal's preconceptions fixed in a pre-IT world, they do not grasp the convergence of IT with rep agencies that combine this technology and international experience. As a result, they will have a difficult time working from the same set of assumptions about how to conduct business internationally. IT is a miraculous tool. As Copernicus, the 16th century astronomer, posthumously demonstrated, evolving knowledge inevitably trumps conventional thought. And keep in mind that this is the same type of conventional thinking that is producing our gargantuan trade deficits. The current conceit might be that the world economy will always revolve around the United States and we can remain satiated indefinitely with just our home marketplace. Knowing that this thinking is not sustainable should help in forcing us to reappraise those things that can facilitate more exports of domestic products to our international partners.In the continental United States, the logistics of a manufacturers' representative calling on customers to explain their line (s) of products in their limited geographic area mostly precludes the need for Internet marketing. But internationally, when one factors in eight to 16 time zone differences on multiple continents, IT inverts the above scoring of attributes. Mindful of the obvious impracticality of traveling in person to see multiple of attributes. Mindful of the obvious impracticality of traveling in person to see multiple customers in far-flung locales, I have formed some guidelines concerning what lines to take on and how to interact with manufacturers:- Category Creators - Take on lines from companies that are making unique products. These lines, if they are highly differentiated and easy to understand through your client's Web site, give your foreign customer an immediate marketing advantage in his country and make unnecessary the need for a high degree of technical product knowledge.- Joint Selling - If you must take on a unique but highly technical product, make sure you work out an ongoing technical assistance arrangement with your manufacturer.- Gradualism: Domesticating the Process of International Trade- For those principals that are still uncomfortable working with overseas customers, start by selling to the United States buying offices of your foreign buyers. It is always interesting how many client manufacturers are surprised that many international buyers are located in North America.- Wave the Flag - Make sure your contract with manufacturers spells out that you do not want information relating to detailed product cost, production process methods or confidential business strategies. With the end of the Cold War, there has been a shift from the threat of ICBMs to economic warfare. Given the reality of industrial espionage, even amongst our own allies, by purposely keeping your company separate from the highly sensitive information of your principal, you demonstrate foresight that you have your client's best interests in mind.Wave Them In - The "them" is the FBI and the National Counterintelligence Center (NACIC). The FBI can consult with your clients about protection of sensitive data, and the NACIC posts advisories that can heighten their overall awareness of possible risks. Combined, this step and the previous one will help them feet more confident that they can proceed in the export process.- Wave Goodbye - If it becomes obvious during your meeting(s) with the manufacturer that they do not have the drive or the intent to create the infrastructure necessary for export, then Opt Out. You will be doing everyone a favor, especially your valued overseas buyers who have surmised that part of the agent's job is the vetting of unreliable suppliers.Now that the attributes and traits of international manufacturers' representatives, vis-a-vis domestic representatives, have been somewhat scrambled, I want to point out how international agencies might fall under a new classification. If under the current taxonomy, domestic manufacturers' representatives are a "species," then international manufacturers' representative agencies, as a "subspecies," might best be named "International Information Brokers" (IIB). Besides selling the manufacturer's products or services to foreign buyers, what greatly distinguishes the IIB is: They have developed the skills for the remote retrieval of information and the organization of that information for manufacturers that desire to sell internationally. Though hazy and vague to those not familiar with the process, in the hands of an IIB, resources are accessible from an ever-widening variety of sources.Technology affects businesses on many levels. The more efficient an employee is, the more productive he is to the company. In addition, the more a business stays in touch with its customer base, the better the chance of building customer loyalty. Advances in technology make that possible, as well as allowing employees from around the world to work via video conferencing and telecommuting to work.1. Consumerso The impact of technology on a business isn't restricted to business use. A business is also affected when consumers use technology. At one time, the only way some people had to file their tax returns was through going to either a certified public accountant or a professional tax preparer, or doing taxes themselves. The tax code is complex and some people might not have felt secure in preparing their taxes on their own. However, accounting software evolved to the point where many people simply had to answer a series of questions and the computer would do the rest, including filing the information electronically. Crossovero The technology a business uses might not have been designed for businesses. From a marketing point of view, a company makes more money by going after consumers than businesses. Consumers might buy the latest upgrade to a technological device, such as an iPhone, while businesses tend to use products for longer periods of time. On the other hand, the more consumers purchase the latest product, the better the business side of manufacturing does. A company can reach the consumer market first, then expand into the business arena. When Apple added enhanced security features to the iPhone, businesses began to look at adding iPhones to the list of acceptable phones to use in the business environment, resulting in a crossover market. Social Networkingo Social networking affects the business environment. Employees are connected to social networks. This can be a double-edged sword, however. An employee might post something about the business publicly which should not be shared. In addition, employees need to understand what gets posted for the public to see can have an impact on the work environment, especially if the employee is posting negative comments about the work environment or other employees. On the flip side, businesses can use social networks to monitor customer satisfaction. For example, if a customer is not happy with a product and he posts his feelings online, the company can contact the customer and try to resolve any problems. Since social networks have links to friends and family, seeing the company work hard to make things right with the customer might turn the potential loss of a customer into the chance to gain new customers. Telecommutingo Technology has had a large impact on the business environment in terms of telecommuting. With broadband access and computers today, as well as smartphones, employees can work out of their homes, saving the company money by not needing as physically large a space to operate. With video conferencing, business meetings no longer need to be face-to-face, saving on air fare and hotel reservations.
What are the personal gains that the 21st century managers prioritising?
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What is management challenge in 21st century on organizational behavior?
none
Where did information technology originate?
Information technology has roots in early human history with the development of writing, but modern information technology as we know it today originated in the mid-20th century with the advent of computers and the digital revolution. The development of the internet in the late 20th century further accelerated the growth and impact of information technology.
What is the motto of NEWCAL Industries?
The motto of NEWCAL Industries is 'Business Technology for the 21st Century'.
How has the accounting field changed in the 21st century?
In contrast to a bookkeeper manually recording entries in a large bound volume, an accountant is now responsible for information concerning all facets of a business and is dependent on the latest technology for processing that information.
This term is used to refer to a type of business organization created in the 19th century that was meant to eventually produce a monopoly?
trust
What has the author Henry C Lucas written?
Henry C. Lucas has written: 'Computer-based information systems in organizations' -- subject(s): System analysis, Business, Data processing, Management information systems 'The analysis, design, and implementation of information systems' -- subject(s): Electronic data processing departments, Electronic data processing, Computer programming, System analysis, Management information systems 'Information systems implementation' -- subject(s): Management information systems 'Inside the future' -- subject(s): Information technology, Social aspects, Social aspects of Information technology, Social aspects of Technological innovations, Social aspects of Technology, Technological innovations, Technology 'Behavioral factors in system implementation' -- subject(s): Management information systems 'A casebook for management information systems .' -- subject(s): Accessible book 'Instructor's manual to accompany Information systems concepts for management' 'Introduction to computers and information systems' -- subject(s): Electronic digital computers, Electronic data processing 'A casebook for management information systems' -- subject(s): Case studies, Management information systems 'The Challenge of Information Technology for the Securities Markets' 'Information Systems Environment' 'The T-form organization' -- subject(s): Forecasting, Communication in organizations, Reengineering (Management), Forecasts, Twenty-first century, Industrial organization, Technological innovations, Information technology 'Information technology and the productivity paradox' -- subject(s): Rate of return, Finance, Information technology, Capital investments 'The search for survival' -- subject(s): Business enterprises, Technological innovations, Decision making, Strategic planning 'Systems quality, user reactions, and the use of information systems' -- subject(s): Management information systems 'Coping with computers' -- subject(s): Electronic data processing, Management
Define the role of information technology in modern age how can you computerized manual business setup please write down a complete procedure step by step?
With more innovation in technology, new businesses are created. With more business, technology comes to the rescue by making things easier. The two exist in something of a symbiotic relationship that ensures they will always coexist. Business has been around since prehistoric times. It may have begun with nothing more than barter trade, if the history books are to be believed, but it has since morphed into something far more complex, and none of that would have been possible without technology. The major industries of the world would collapse, if the existence and use of information technology were to be snatched suddenly from businesses. That's because most business transactions and operations cannot be conducted in the 21st century without technology. Technology Is Necessary in Business Over the years, technology has caused an explosion in commerce and trade. Because of technology, many traditional business models and concepts were revolutionized. Technology gave us the opportunity to see things from a new perspective, and to approach what we were already doing from a new perspective. Technology also gave us greater efficiency for conducting business.
What do you understand by information technology?
Information technology mean,s that to store information. To recieve information. To teransfer information. To record information. BY FARIDA REHMAN CONDIDATE OF KHADIJA GIRLS HIGH SCHOOL.......
What is meant by the term information age?
We, in the 21st century, are in the information age. Communication is faster than ever because of computers and digital media and technology.
What has the author Harold A Linstone written?
Harold A. Linstone has written: 'The challenge of the 21st century' -- subject(s): Twenty-first century, Management, Information society, Social aspects, Technological innovations, Technology, Social aspects of Technology
When did Information Technology IT start?
This age can be defined roughly as the time between 1840 and 1940. Several revolutionary technologies were invented in this period such as the Morse code, telephone, radio, etc. All of these technologies were crucial stepping stones towards modern information technology systems. Allsoftgo
What has the author Deborah A Gaut written?
Deborah A. Gaut has written: 'Business and professional communication for the 21st century' -- subject(s): Organization, Management, Communication in management
The role of Information Technology in mass communication?
In this century, we cannot imagine the world without Information technology as well as mass communication. widely dispersed people are getting the Information and news by mass media. Information technology may helps media to be modernize. People are now able to know the things happening in different countries via social media too. Like, Facebook, Online News Sites of Different media have been created under Information Technology.
