Thursday, December 5, 2013

Chptr 1 : Business Driven Technology

    

Based on the title you must be wondering or questioning on " How does technology drive business?" "How big of a role does Information Technology (IT) plays in business?" or even " How does business and IT can co-exist ?"
       Well to answer these questions is as simple as by looking around your surrounding. This is because, 
" Information Technology (IT) is everywhere in  business"
Now days, even business magazines are filled with articles discussing about IT. For me as a business student, it is crucial and an advantage to have a deep knowledge on technology because with it i can gain great insight about business and detailed understanding on IT.  
 
Since IT is everywhere in business, we can understand that IT has a huge Impact on Business Operations. Here are some pictures that will illustrate the impact of  IT on business operation.


         For any business to achieve its goal such as reducing cost, improve loyalty, generate growth and many others is not an easy task. IT plays and important role in achieving  business goals by facilitating communication and increasing the intelligence of a business. To see how technology has change they way people conduct business you can read this article http://money.howstuffworks.com/technology-changed-business1.htm.
       Most important, for an organization to succeed, every department (accounting, finance, human resources, sales, marketing, operation management and management information system)  must work together by sharing information and not be a "silo".

         The next part of this chapter is about the Basics of IT.  There are several terms that we must first understand such as IT. Information Technology or better known as IT  can be easily defined as a field of concerned with the use of technology in managing and processing information.

Next is management information system (MIS) is a general name for business function and academic discipline covering the application of people, technologies, and procedure to solve business problems.

These are other terms that one should know :


Data - raw facts that describe the characteristic of an event
Information - data converted into a meaningful and useful context 
Business intelligence – applications and technologies that are used to support decision-making efforts
Lastly, is the IT culture.....
         1)   Information-Functional Culture - Employees use information as a means of exercising influence or power over others. For example, a manager in sales refuses to share information with marketing. This causes marketing to need the sales manager’s input each time a new sales strategy is developed.
       2) Information-Sharing Culture  - Employees across departments trust each other to use information (especially about problems and failures) to improve performance.
        3) Information-Inquiring Culture - Employees across departments search for information to better understand the future and align themselves with current trends and new directions.
4) Information-Discovery Culture - Employees across departments are open to new insights about crisis and radical changes and seek ways to create competitive advantages.
Here is a video on how technology has effected business, enjoy :)


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