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on 11:05:00 am 0

In the modern era computer and information technology the importance of information system (IS) can be judged from the following points.
a.Support of business process and operations.
b.support of business decision making
c.support of strategies for competitive advantages.

1. SUPPORT OF BUSINESS PROCESS AND OPERATIONS:

The lower level of organization consists of department head, supervisors, workers and other technical staff. Their actual performance is communicated to the top management using various performance report for the purpose organization use IS to communicate such reports to the top management.

2. SUPPORT OF BUSINESS DECISION MAKING:

The goal of any part of information system is to provide information for decision making.
Information system thus helps for business decision making management of this level consists of heads of sales regions administration and engineering. These head need timely, quick, and accurate information to control the provide such information which enable the regional heads to function efficiently ad make analysis of sale, expense, investory level and turn over.

3. SUPPORT OF STRATEGIES FOR COMPETITIVE ADVANTAGES:

Information system at this level provides information to managers and those who involves in making strategies for organization. This system provides further oriented information about market products demand and environment changes.
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Why business need information technology

Information technology is the combination of computer and network resources to share information within and outside the organization.

Why information technology is importance for business:

To answer this question one must be familiar with the expending role of information technology in present era. Information technology has become a vital component of successful business and organization. They thus constitute an essential field of study in business administration and management to be a manager, entrepreneur of business professional it is important to have basic understanding of information technology like other business function such as finance, accounting and HRM (human resource management). Information technology can help all kind of business to improve the efficiency and effectiveness of their business process, managerial decision making and work group collaboration. And thus enable an organization to gain competitive advantage in a rapidly changing market environment. The use of information technology support product development team, customer support process, electronic commerce transaction or any business activity.
Internet based technology and systems are fast becoming a necessary ingredient for business success in today’s dynamic Global environment.

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on 5:00:00 pm 0


Communication:
The word communication has been derived from the Latin word “communicare” “communia” its mean to share information and thoughts with the other.
Definition:
Communication is the main highway among the human beings.
OR
The exchange of ideas, information among the human being is called communication. It means that communication is necessary for all the living even animals and birds and no one pass the life without communication.
Structure of communication:


­­­­­
Business communication:
All types of communication place inside and outside the business for the purpose of business is knows as business communication.
Inside/internal communication:
Communication takes place inside the business org is known as internal communication.
Outside/External communication:
Communication takes place outside the business org is known as external communication.
Manger to employees / Top to buttom communication:
It come instruction are given to employee is top to buttom communication.
Employee to manger /Bottom to topcommunication:
From employee to manger is know as bottom to top communication.

Communication in business:
All the organization are located and existed in the human society and such human society comes into existence by making communication with others this means that business organization cannot come into existence without communication. Business organization deals with the internal and external environment with communication.
A: Soul for the business communication:
It considered just like a soul because without communication no organization can come into existence and operate.
Communication takes place internally and externally. Internal communication means dealing the employees inside the business and External communication dealing with the outside worlds. Through communication the duties and responsibility are gives to the employees. The communication system which carries the information from top level to low-level is known as performance budgeting system and the system which carries information from low-level to top-level is known as responsibility Reporting system.
Through communication carries type of activities and task are given to the employees  to do and when they do, they show the performance to top management through communication.
There are different types of problem accrued in the business such as finance problems, purchase problem, production problems and sales problems. There all are solved by proper communication among the managers and own of the business. The business organization making communication with outside world by advertising purchasing, selling, preparing the various reports (income statement balance sheet.
B: Saving time and Money:
A good latter E-mail or telephonic call may save the time, money and effort of the people and brings the desired results.
C: Achieve the Organization Goal:
For achieving the organization communication is considered the base goals of business organization can make the sales maximizing the profit, minimizing the cost and creating the strong goodwill. All those make a good communication with the people, such as customer and supplier. If the owner or employees of the business making communication with others people in good behavior people will feel joy and happy thus they will increase the dealings with the organization that leads the achievement of organization goals.

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on 10:03:00 pm 0


https://bs-commerce.blogspot.com

 

TELECOMMUNICATION:

Telecommunication is a type of communication which deals with sending and receiving messages through special media in the form of light waves, electronic signal etc.
The exchange of information using suitable medium in the form of light signals, electronic is called telecommunication.

Trend in telecommunication technology

Trend in telecommunication technology have a great implication on the management. A manager should be aware of the major trends like industry technology one application trends.
1: INDUSTRY TRENDS:
In industry trend private companies provides the telecommunication facility to businesses. Previously government provided telecommunication facilities however now privet companies offer such facility. Number of companies now provides business a choice of everything from local to global Radio and internet services etc.
The explosive growth of internet based technology has widened the ways people use the World Wide Web facilities. In response business had increased the use of internet for E-commerce and collaboration.
2: TECHNOLOGY TRENDS:
Previously business organizations used analog signals for communication. However there were a lot of problems associated with such communication. Now organization ore using digital communication system instead of analog communication. This provides speed performance and reliability. It reduces the cot error frequency and labor. Another technology trend is from copper to fiber optic, as a media of communication.
Copper media is a media with speed barriers and electromagnetic interference. Fiber optic media is free from all such interference.
In technology trend there are a number of open system is veal world which interacts on continuous basis with each other.
3: APPLICATION TREND:
Application ( a set of software) previously used in computers are new shifting to telecommunication technology now, application are developed keeping in mind the telecommunication networks. So to facilitate telecommunication facilities these new application are capable of interacting with other application system in environment which make communication process speedy and most reliable.

IMPORTANCE OF TELECOMMUNICATION/WHY TELECOMMUNICATION IS IMPORTANT:

Telecommunication is an important tool for today’s business organizations. No organization can complete without the successful implementation of telecommunication technology. Organization will have to exchange information for their operations and decision making and using telecommunication technology make possible it. Now day’s organizations managers their information system resources through telecommunication Data, hardware, software, and human resources are controlled by managers using telecommunication technologies. Telecommunication today has attained a great importance as it is a question of success and failure for large business organizations. It will have to pay due attention to telecommunication facilities in order to complete in the global market.


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on 9:48:00 pm 0


Conceptually information system is classified as under:

A. Operations support system:

Operation support system is designed to provide support to the various operations at lower level of organization following system under this category

1: TRANSACTION PROCESSING SYSTEM:

Transaction processing system record process and summarize business transaction which occurs during normal course of business. They process transaction in two basic ways i-e batch processing and real time processing. In batch processing transaction are accumulated over time and processed periodically. In real time online transaction are processed immediately as they occur.

2: PROCESS CONTROL SYSTEM:

Process control system is designed to the specific production process in a manufacturing organization. These systems continually monitor the process and make proper adjustment.

3: ENTERPRISE COLLABORATION SYSETEM:

Enterprise collaboration system enhance work group and team communication by using organization personal can share research, idea and valuable information among them which promote their work efficiency.
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B: MANAGEMENTINFORMATION SYSTEM:

Management support system provides information to all type of managers to support their effective decision making process. The following systems are used to support variety of decision making.

1. MANAGEMENT INFORMATION SYSTEM:

These systems provide information in form of report to support business decision. For example decision about products, market and quality decision are supported by such systems.

2. DECISION SUPPORT SYSTEM:

These systems provide information for that decision which one of unique nature, for example for lunching of new producer in market selection of advertisement media and its expected budget need careful decision making. By using such systems information are collected about each alternative and a best alternative.

3. EXECUTIVE INFORMATION SUPPORT SYSTEM:

This system provides critical information for MIS, DSS and other sources to support executed decision making process.

4. OTHER CLASSIFICATION OF MANAGEMENT SYSTEM:

Organization also uses several other systems to support operational or managerial decision making. These are discussed as under.
(a):  Expert advice for operational decisions.
(b): knowledge management system share information system to support knowledge among organizations employees.
(c): Functional business system supports various business functions such as accounting and marketing.
(d): strategic information system provides information to enable the organization to gain competitive advantage in the market.
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on 3:52:00 pm 0

What is combination? Explain its types

Definition:- 

It is a voluntary association of firms for the achievement of common objective. Various firms combine themselves to enjoy the advantages of the monopoly. The combination may be formed by a written OR oral agreement. Sometimes the small firms decide to merge themselves into one unit.

J. L. Hanson says, that combination is the association temporary OR permanent of two OR more firms.

Ralph Estes says, “Business combination is the joining of two OR more companies to form a single org. for the conduct of business activities.”

L. H. Haney says combination is merely a union of persons to make a whole OR group for the prosecution of some common purpose.

 

TYPES OF COMBINATION

There are many types of business combination but most important and those are in common practices are few. Following are the various types of combination.
1): Horizontal OR parallel combination:
The different business units doing the similar business can join together with some common objectives, such combination is called horizontal, trade, OR parallel combination.
The large and small firms combine their business in order to eliminate competition, fix price level and control the supply of product. They make common purchases, advertising, transport and research.
Examples:
various cotton mills, sugar mills and rice mills make agreement to follow common policies in running the business.

2): Vertical combination:-
When two OR more than two successive units or stages in production in an industry combine under single management, a vertical combination takes place.
Examples:
The cotton ginning, spinning, weaving, finishing and converting them into cloth are different processes of different firms but raw material remains the same.

3): circular combination:
When some business units of manufacturing and selling are combines their businesses together under one management.
Examples:
ghee, sugar, cotton, paper and steel mills owners can decide to work less than one managing director.

4): Diagonal combination:
Diagonal combination take place when a main business unit combines with the different firms which supply goods and services for making the final product.
Examples:
A steel mill can depend upon other companies for repair and maintenance, power supply and transport facilities. So the steel mills combine with these companies to receive the services in time so the business daily work will run smoothly without any break.

 related links:
definition and characteristics of business
Business objectives in pdf.


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