Week 11 - Chapter 9

E-commerce is the practice of using the internet for monetary transactions such as buying and selling. In these modern times almost anything can be done digitally. From shopping, to paying bills, to running a business. It doesn't matter what kind of business you have or the size of it, you will need to practice some form of e-commerce within it.

Some businesses have even become purely digital, relying on their online presence to sell their products and services rather than having a physical store. E-marketplaces has also connected many online shoppers with a variety of online stores, and paying without using physical cash has become the norm in society.

But e-business and e-commerce also has its downsides. It's easier to commit fraud on the internet since the buyer and seller don't see each-other face to face when making a transaction, and data from peoples credit card details and bank accounts can be compromised. Overall, it is important to become aware that technology has made its footprint in the way we do business and has changed it for both better and for worse.

Gray, H., Issa, T., Pye, G., Troshani, I., Rainer, R. K., Prince, B., & Hugh, J. W. (2015). Management
information systems. Wiley.

Week 10 - Chapter 8

Social computing combines both IT and social behavior to create a unique social context that widely extends the potential for collaboration and interaction on the internet. Connecting individuals from around the world to share and communicate ideas and opinions with one another.

Through the power of social media, ordinary people can now voice their opinions about any organization or business, making it harder for modern-day companies to control the flow of mass opinion. But that's not to say that social opinion doesn't have it's merit. 

Companies who chose to embrace social computing as a means to expand their business (aka 'social commerce') can reap the benefits from having a closer relationship with their customers and thus gain a better understanding of their audience while improving their business performance. But there are some dangers to avoid while engaging in social computing, such as potential invasion of  privacy and hacking attempts of personal information and company data.

Gray, H., Issa, T., Pye, G., Troshani, I., Rainer, R. K., Prince, B., & Hugh, J. W. (2015). Management
information systems. Wiley.

Week 9 - Chapter 6

Issues revolving around ethics and privacy are rampant in the twenty first century, and business entities are no strangers to dealing with such complicated subject matters. 

Ethics refers to "The moral principles which people use when making decisions", and throughout the centuries many "Ethical frameworks" have been invented and used as social standards for moral behavior (Such as the 'Utilitarian' approach or the 'Fairness' approach). Businesses also might have a "code of ethics" to help their employees make ethically sound decisions. Though at the end of the day what is considered "ethical" is a rather muddy grey zone of personal opinion and individual situations. 

Problems that have arisen due to the wide-spread use of the internet include privacy, accuracy, and accessibility issues. Electronic Surveillance has especially become common-place in the working environment and many countries participate in wide-world data collecting for their own personal use and potential gain. With how wide spread information technologies and systems are in the modern age, it is becoming more and more difficult to stay completely anonymous.

Gray, H., Issa, T., Pye, G., Troshani, I., Rainer, R. K., Prince, B., & Hugh, J. W. (2015). Management
information systems. Wiley.

Week 8 - Chapter 5

Business Intelligence (or simply BI) is a broad category of technological tools that help store data so people can access and analyze the information to make the most effective decisions. It is especially useful for managers when making critical decisions within their organization. In fact, there are lots of people who rely on BI in their daily occupations such as accountants, marketers, and human resource managers to name a few in a business context. Others that also gain from using BI are hospitals and retailers.

BI can be used for an array of tasks such as data analysis and data mining. And can be used to help with strategic planning and decision-making such as OLAP (online analytical processing) and DSS (decision-making systems). And while BI cannot help in every managerial situation (such as "unstructured" decision-making tasks), it is still an undeniable benefit to any entity of any size. From small start-ups to big corporations.

Gray, H., Issa, T., Pye, G., Troshani, I., Rainer, R. K., Prince, B., & Hugh, J. W. (2015). Management
information systems. Wiley.

 

 

 

 

Week 7 - Chapter 4

The internet (or the world wide web) has become a global sensation involving 200 countries in it's daily use and has changed the way we communicate and share information with each-other. The internet has also transformed the way businesses are run. So much so that now modern organizations simply cannot exist without it. 

Before the internet there were more formal (and slower) methods of postal services and fax machines transferring and receiving information from place to place, but thanks to the power of networking businesses can now almost keep in synchronized step with the economic world around them.

Search engines has made finding information about any and all topics very easy now, though that's not to say all the search results are of the same quality or will be as accurate. Since anybody can "share" information on the internet it's important to understand which are reliable, fact-based sources rather than just opinionated web posts.

Networking has also drastically evolved distance learning. Particularly E-learning with the heightened focus of improving online experience, making higher education possible for a larger audience of people throughout the world.

Gray, H., Issa, T., Pye, G., Troshani, I., Rainer, R. K., Prince, B., & Hugh, J. W. (2015). Management
information systems. Wiley.

Week 5 - Chapter 3

New data and information is being created and stored every day. From photos, to videos, audio files, blog posts, emails, medical records and money transactions, the amount of information the digital age is mind-boggling to say the least. Finding ways to record and store all of it effectively and efficiently has become extremely important. To cope with the growing and diverse nature of information, organizations must adopt new systems to manage their data. And luckily for organizations and managers alike, IT and IS were designed to assist businesses with storing and interpreting information.

Database Management Systems (or DBMS) are programs that help users categorize and analyze the specific data stored inside the system and are vital asset in all areas in the business world. It is also important to note that data is not invulnerable to getting lost or damaged, so every business must make sure that is has a secure and up-to-date database system.

Gray, H., Issa, T., Pye, G., Troshani, I., Rainer, R. K., Prince, B., & Hugh, J. W. (2015). Management
information systems. Wiley.

Week 4 - Chapter 2

Business is an ever-expanding and competitive world filled with constant economic, social, and technological pressures, and with the arrival of the internet and with it the dawning of modern globalization IT has never been more prominent in business strategy. Familiar business practices like outsourcing, off-shoring, and supply-chaining would not have been possible without Information Technology.

With this "flattening" of the playing field in the business world, it has become vital for companies to find some way to stand out from their industry rivals. Whether it be having cheaper prices, making unique products or focusing more on innovation or customer services, an organization's competitive strategy is what ultimately will make each company sink or swim. 

Despite IT becoming so integrated in business life a lot of organizations are still indifferent or ignorant to its particular importance when it comes to growing and expanding their businesses. A common problem which will have its obvious consequences later down the line.

Gray, H., Issa, T., Pye, G., Troshani, I., Rainer, R. K., Prince, B., & Hugh, J. W. (2015). Management
information systems. Wiley.