Competing In The Information Age Essay

1062 words - 5 pages

Q.1 Describe the information age and the differences among data, information, business
Intelligence and knowledge.
Ans: We currently live in an information age where massive amounts of information and facts are available to anyone who knows how a computer works. The information age has four fundamental rules to work which are data, information, business intelligence and knowledge.
The difference among these are that firstly data, which to put into simple words is the facts that describe an event or object.
Information is that same data but the difference is that now the data is transformed into useful and meaningful content relating to the object or event. ...view middle of the document...

The best way for effective communication between these departments is IT.
Q. 3 Explain systems thinking and how management information systems enable business communications.
Ans. System is a set of things working together like parts of a mechanism to achieve a common purpose and system thinking is a way to maintain surveillance over this system so that the system can function effectively. System thinking does this by gathering all the inputs that are being processed to produce useful outputs and providing feedback at the same time.
Management information systems (MIS) acts as a business department in a company which transports information about the product or service and processes to other departments in the organization which in turn help in decision making. MIS uses system thinking to help the company combine all the departments into one unit. In the background there are a lot of things going on when a customer buys a product or service but thanks to MIS, to the customer it looks like one continuous process.

Q. 4 Describe and compare the different roles and responsibilities in information technology.
Ans. Almost all organizations have IT departments that are responsible for carrying out the MIS function. IT itself is not at all useful until the right people know how to use it and manage it effectively. There are different roles in IT which are Chief Information Officer (CIO), Chief Technology Officer (CTO), Chief security officer (CSO), Chief privacy officer (CPO) and Chief knowledge Officer (CKO).
Q. 5 Explain why competitive advantages are temporary.
Ans. Competitive advantage is a feature of a product or a service that gives it an advantage over other products falling in the same category meaning that customers place a greater value on that product or service than they do on similar offers from other competitors. Competitive advantages either provide this either by placing a smaller price tag on it or providing exclusive features at a lower price. However this advantage is often temporary because competitors learn to copy this and find ways to offer their products with the same advantage to maintain their profits. So organisations from time to time must seek new competitive advantages to stay ahead of...

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