Leveraging Information Technology For Business Success

Published Date: 02 Nov 2017

INTRODUCTION

Information technology is a field concerned with the use of technology in managing and processing information. It is a modem phenomenon that has changed in our daily life and also in businesses entire the world. In the business context, it has defined as the study, design, development, application, implementation, support or management of computer-based information system.

Management information system is a business function just as marketing, finance, operations and human resource are business function. It provides information that organizations need to manage themselves efficiently and effectively. The management is primary focused on creating value through business strategies and applying aligning technology. It is a success point to improve the value chain in an organization which relates between internal and external networks.

Leveraging information technology for business success is a key to survival in the modern business world.

OBJECTIVE

I choose this topic ‘Information Technology is a Key To Business Success’ because I want to know how information technology and management information system can apply in business and how IT help business to success. I also want to know how business in world of internet being. Based from what I had read, IT is a good method for business to success even for small business to make profit and revenue grow fast.

BODY OF ARTICLE

IT has replaced the conventional modes of businesses with innovative technological tools that increased output and efficiency by introducing new concepts such as e-commerce. In business, IT holds many roles that can lead the organization to become successful. These are examples of roles of IT in business.

Productivity

To increase the business’s productivity, technological applications, such as relational database technology, computer-aided designing, word processing, spreadsheets and other software programming are used in managing the organization.

Significance

Business corporations maximize their commercial advantage by making the right use of IT tools. Nowadays in Malaysia, there are many companies that apply online selling concept. This concept will make customers buying products from the comfort of their homes via the Internet.

Monitoring

IT is used for monitoring areas of the company that are not utilizing resources efficiently. Company can use of real-time inventory and supply monitoring to produce only that number of product that were demanded by the customers. Thus, it will reduce the cost of overproduction.

E-commerce

E-commerce is buying and selling services and goods over the Internet. Online operations reduce the time and personnel required for business processes. It also reduces costs in areas like labor, document preparation, telephoning, and mail preparation.

Information Technology (IT) has many advantages in business sector. These advantages are the component to make IT as key to successful in business. The first advantage is IT increases production and saves time. Business use technology to completing some daily tasks of the organization.  A good example is a bakery which uses automated temperature sensors to detect any drop or increase in room temperature in a bakery.

Secondly, IT improves communication through communication technology. With the help of communication technology tools like phones, video conferencing , electronic mail, databases and many more. Movement of information within an organization or business has become easy and first. For example, employees can easily move information across departments without having any interruptions by using tools like electronic mail; e-fax, mobile phones and text messaging that can enhance the movement of information among employees, customers and business partners or suppliers.

Next, improves financial management. Accounting software like Quick Books, Bookkeeper, Sage 50, and Account Edge can be used in performing various accounting tasks in a business. Business owners can easily balance their books with less experience in accounting because these software’s are well equipped with every tool needed in accounting and they also have a help section which can be referred to  in case a user is stuck. This will make the organization is always in good financial status.

By using IT in business, organization can cuts costs of operation and increases on ROI. Communication technology and social technology have made business promotion and product launch affordable. Many small businesses have found ways to use social technology to increase on their brand awareness and get more clients at a minimal cost. So when businesses use information technology to cut down on costs of operation, then their ROI will increase which will result into business growth.

DISCUSSION

After did some reading and research, I agree with the statement; ‘IT is a key to business success’. This is because there are many advantages of IT in order to make a business successful in term of profits and being well-known in the business world. This will make the existing customers and other people believe and trust the company in current time and future.

In Malaysia there are many companies that used IT in their business. For instance, Zalora.com (fashion), JobStreet.com (career), CimbClicks (online banking), mcdelivery.com.my (foods and beverages) and many more. Each of this websites have millions number of user because people nowadays believe that everything can be ‘ordered’ from their comfortable house by using internet as a medium.

CONCLUSION

The conclusion is the information technology (IT) and management information system (MIS) is important in business world because today everything is in the internet even for a small matter. It is very useful to make the business expand and growth faster and wider around the world. People nowadays should be thankful to the IT and MIS because both of this system are really helpful in term of managing the business (small, medium or big). So it is very true that IT is a key to business success.