1.0Outline MIS solution for a medium to large company
All business share common assets, no matter in what
type of sector it is. Is doesn’t matter
they are into manufacturing, product or service sector. Information helps us to find out the needs of
creating new products or services. Without information products will not get
produced, orders are not placed, the materials are not procured, the shipments
are not delivered, the customers are not billed and the business cannot
survive. In order to maximize the value of information, it must be captured,
analyzed, quantified, compiled, manipulated, made accessible, and shared. In
order to accomplish those tasks, an information system (IS) must be designed,
developed, administered and maintained.
MIS is used in a lot of business sector of almost
every country in the world today. From
the a medical doctor that is using a software that is billing customers,
arranging appointments, using internet to an insurance business to an counting
software that is used in an accounting firm.
It can is also be used in small business to large company at different
levels of this organizations. In all small business that are participating in
consulting, selling, research, IT and other businesses. MIS has and is becoming
the integral part of small business even in the developing nations. Large companies have many programmes of MIS
that are being used in the business for different purposes, for example the
ASPs and MSPs can be used in providing services or management service.
does one implement a successful MIS? What are the important requirements? Below
are the key conditions that have to me employment to ensure benefits of the
the role of MIS, Not only IT department business
It is of importance’s that not only the IT department
understand the use of IT, but make each understand the person involved in the
use of the IT including the use of MIS.
When designing the MIS make sure that all departments are involved at
the initial part for the programmes creation to conceptualize the use of the
application or software. If the system
being developed is to achieve a specific goal the department that is entitled
to achieve such goal should be fully involved to give their inputs and idea
because they understand and have the best knowledge on how this application may
help their department. They understand the planning process, needs and problems
they have experienced.
Designed Data Movements and Structures
systems that is MIS, bigger organization process large number of data. Thus is
very important to have design a clear data flows and data structures. This because the data related factors impacts
more on the final quality of the MIS implementations in any organisation. It is
of importance to have specific level of aggregates that provide correspondence level
of information, but other other hand, it doesn’t give unnecessary detailed
information, which can lead to confusing data structure and also unwanted database
and other longer response.
structure and system
The system that is being developed should be system
that able to grow with the company, meaning that the system’s feature that are
being developed should be ” open” and ” modular” for it to be able to adjusted
in the futures. Meaning the IT personnel should be able to add or adjust the
features when necessary. They should be
created in the style of ” less ios more” instead of just impressing the users.
to the user
If the idea of developing this system is to maximize
utility beside quality design quality communication of the implementations, it
is important to give quality training to the users. Many companies are known at undermining the
legitimacy of quality training because they feel that it is not that important.
Thus it important to organize after some
time when the user get a familiar feeling with the basic features of the system
to give the an advanced training focusing more on the efficient work and
educating them to solve their common task using MIS.
I have mentioned some of the advantages of Management
information systems for business management. With their benefit, I also
mentioned that important factors of successfully MIS implementations. It crucial to address other aspects when
implementing the MIS especially those that are not related to technical
solutions within the MIS system.
Porter’s competitive forces model in a bank.
Porter’s five competitive forces was discovered by Michael Porter’s, in the
book titled “Competitive Strategy: Techniques for analysing industries and
competitors” in the 1980’s. The model
was developed with the idea based on the understanding that corporate strategy
should always meet the opportunities and threats in the organisation in the
external environment. Thus it is crucial for competitive strategy to be
developed based on the compression on the industry structures and the mode of
change (Porter’s 1980). It has identified five competitive external forces that
shape every sector and every industry. The model basically aims at describing the
competitive environment a firm is embedded in an along five industry-specific
factors that drove to Porter’s mind competition (Johnson 2014)
the organisation provide service or products there is always competitive forces
in any perfect competitive business environment, including the banking sector
(Gabriel 2006). The Porter’s model for the banking industry can also be applied
into the bank sector as service-oriented business. To enhance the competition
of funds and market share to cutting down the spreads of the banks, an increase
in their expenses compared to the revenue and minimising the salary expenses
and loan-loss expenses, banks are responding to these challenges by introducing
new products and new services in order to deal with high expenses. To do that competitive forces are eradicated
by applying the Porter’s model for banking industry. Let us examine this:
among Existing Firms:
any economy that apply the traditional economic model, competition between the
companies that has increased. This competition has been taking place globally
since the beginning of liberalisation. There are new products, free pricing and
market forces that are also affecting banks operations. Banks contest for a competitive advantage
against its rivals. This is true that
banks should apply the Porter’s model to challenge the competition from their
long as the market of has a traditional characters of the liberal market, the
financial sector, the influences form this type of forces in the banking sector
shall be felt at any extend. If a new, or other bank services is
introduced in the market, potential competitor is introduced. The potential competitor threat from the new
comers will gradually increase.
from Substitutes financial services:
add on the threats of new entrants, if in the financial sector there is some
financial intermediaries offering substitute products that threat for
competition will also increase. This
organisation may refer to non-banking finances companies and other financial
organisation in the formal and informal sector.
Power of Buyers:
the money and financial marketing has been growing, banks are faced with
challenges when comes to bargaining power from such industries within the local
markets and international markets. This makes buyers to have a big market to be
supplied with what they want on the price they want.
Power of Suppliers:
new financial products and the more access to other banking industries and
other financial sectors have enhanced opportunities for depositors from big
sources of funds in the banking sector.
the competitive forces on the banking sector have been influencing the prices,
costs, and size of the financial banks.
If the bank is efficiently to manage all the competitive forces it shows
in its balance sheet and its profit and loss statement.
from current IS, online collaboration, Web 2.0, Social Networks and mobile
devices could benefit the bank and its customers.
from the Information system
systems are one of the systems that is very important to the growth and
survival of business in today’s world. It doesn’t matter it is the manufacturing sectors, construction
sectors, consulting sectors, whichever sector you might think of, all sectors
of industry depends on the management of information and data. It doesn’t matter
it is a small company or large companies like high street banks, central and
government. A diversity of information systems are being used by banks.
Currently, most banks operate with multiple legacy systems that operate on a
single mainframe computer (Lenard & Ferran 1997). Moreover, the internet has progressed as a
complete source of protected technology that acts as a useful resource to the
banks. The arrival of internet based systems (popularly known as web based
systems) has allowed banks to be more precise and keep a hassle free record
system. However, the internet based systems have led to many security issues. Let us discuss the following to see how the
following internet instruments benefit the banking sector:
online collaborative refers to the software, hardware that serve as the base
for sharing data, information both inside and outside the organisation. This
arrangement leads to the exchange of information from the source to the user. As formerly stated, real-time communication is
also a possible purpose that can be allowed through the use of collaborative
Globally, Mobile phones are at the center of
information sharing. Mobile solutions
give you superior perceptibility into your operations. It also benefits organization
in the form of communication by reacting faster to the environment that is changing
all the time. It helps an organsation to become very competitive over their competition.
These are a web that becomes a participatory platform
in which organization not get content but also share and produce content. This is
by downloading and uploading that content. This refers to blogs, wikis etc which helps to
break barriers between users and providers of data.
This technologies are powerful enabling societies to
communicate and interact. Modern
electronic financial services will depend on Web 2.0 to be more flexible and
modular, allowing capabilities to be added as and when required on Wed. Security issues an dthe effective role of Web
2.0 as remov9ing profound communication barriers will play an important role
and can be used in the banking sector.
main problem of internet based applications is the level of security provided.
There have been a number of cases with the most famous ones being the ATM card
duplication and credit card faults have all arisen due to information system
vulnerability. Therefore, banks need to provide a level of security that cannot
be breached. It is tough to say that the system is “fool proof” since programming
involves coding and decoding. Therefore what can be coded can also be decoded.
However, many security measures have been taken by bank authorities in
accordance with the IT professionals to allow smooth hassle free banking
through the use of computers and information systems. Some of the common
security features include the secure server technology (SSL technology),
Enforcement of laws like the Data protection act enables for more careful
banking by the banks. The law enables anyone the use the information provided
over the internet with due care and only with the consent of the provider of
that information. This law has worked wonders in that it has made the owners of
websites more responsible to such mishaps. Information flooded over the internet
can only be used for purposes said and described prior to collection of it. Law
thus acts as one of the barriers to those who want to breach it. Apart from
law, security levels include password remembrance systems, additional
information provision and providing passwords to specific phone numbers only.
By doing this, the internet has taken help of other acquisitions of humans into
consideration. The logic is that a human cannot lose all at a time and hence is
a good measure to reduce the security threats.