The Key Success Factors In Business

Published Date: 02 Nov 2017

Introduction

Long time ago the term information technology (IT) was a little known phrase that was used by those who worked in places like banks and hospitals to describe the processes they used to store information. Information technology and computer are crucial things that are used in business today. For example accounting and legal, mostly every business needs to invest for advance technology to compete with others. With technology, is both cost of doing business and it is an opportunities to reach lots of customers and also make lots of business.

Information technology is the use of computer and its software to manage system where the term of information technology or IT is referring to an entire industry. In business, an information technology being used in department in the business especially in a large company where it responsible for storing information, protecting information, processing information, transmitting the information as request.

Objective (s)

There are lots of benefits that business can get with information technology. It can bring business to success and also make the system more organized.

By using information technology in a company, it can help us to reach lots of customers, which is our potential customers and have a long term relationship as to maintain our business. Other than that, with information technology, I can reduce cost on a company where we can reach lots of customer with only standing in front of our laptop. Other than that, with the technology applied, we are able to improve efficiency, maximize profit and waste. Thus we can give better service to customer that can make them loyal to us.

Information system also great technological advances have been made since the days when computers were stored in big, air conditioned rooms, getting their information from punch cards. [i] It shows that information technology being used long time ago to make work more easier and now, the technology are getting advance and there is only certain place still using punch card in the company.

Body of the article

Informationtechnology has lots of benefits to business in the world where it allows organizations to work more affective and efficiency to maximize profit and also productivity. It allows us to have a faster communication between departments in the organization. Plus, it also has electronic storage and the protection records as the advantage technology in the organization. Information technology is dependent almost every work environment where it has its computer application and we should work on it to make it computerized.

With information technology, we can:

Store and protect information

Information technology creates electronic storage systems to protect your company's valuable records. According to the Graziadio Business Report, published by Pepperdine University, secure maintenance of customer and patient files is vital to business integrity. Storage systems, such as virtual vaults, keep information safe by only allowing certain users within your company to access, withdraw, add or change the documents. According to an article in Science Daily, IT security engineering systems protect your electronic information from being hacked, or wiped out during a technological disaster. Electronic security engineering means your valuable records will remain untouchable. [ii] 

It shows that information technology create electronic storage to protect the record of the company that is valuable in future. Based on Graziado stated above, all patients information are important to be keep safely and if not, it will impact business integrity and lost the trust of customers. For Science Daily stated above, it shows that IT security engineering prevent our electronic information from being hacked or harm during technological disaster and it means any valuable record such as address will remain untouchable.

Communication

Communication is important to the business world now days, and information technology gives company the resources it needs to communicate quickly and effectively with each other to get the right information. Information technologydepartment can hook all employees up with email, video conferencing equipment and internal chat rooms, so that they will always have an efficient way to conduct business and communicate with each other to deliver a good and important information gathered.

Automated Processes

In business, people look for ways to do more work in a shorter amount of time. A November 2000 newsletter published by the Federal Reserve Bank of San Francisco explains that information technology improves your company's efficiency by developing automated processes to take burden off your staff. In turn, your employees are free to work on other things while the computer runs their reports, creates queries, tracks projects and monitors financials. [iii] 

Above article stated that people are searching for extra work to get more money in a short time. According to Federal Reserve Bank of San Francisco on November 2000, with information system, it will enhance credibility and efficiency of organization with the automated processes to make employee more relax and not stress when working. Thus, employees will be free to do other work while the computer will run the information which is the reports, queries, and financials.

Discussion

Information technology is the key success for business now days. There are lots of benefits when using information technology in business.Three of the key success are it can store and protect information, communication and automated processes.

Store and protect information

This is one of the key success factors in business where if we keep data and information of the customer, we will protect the data from being revealed to other people that can cause trouble to our customer. Other than that, all information stored, we will be able to have a good relationship within our customer by sending email or many more with the data gathered. Thus it will be a trust between business and customer.

Communication

Communication is the another key success of business where it is the two way process of reaching understanding where people exchange information, idea and it is important in business to have a good communication skill to make people understand. When we are in business, there are many departments doing job and there will be connection between both departments. The connection involved communication. With information technology, we able to communicate with other department easily and stressed more on what they need to do, or communicate between bosses and manager in order to change strategy in running business.

In other words, information system is the cheapest communication, efficient and faster to connect with each other. We can reach people all over the worlds where business also can capture lots of customers in all around the world. They can just simply send email; text messaging and all of this will be reply in a short while by department or by customers.

Automated Processes

This automated Process is the other key success of business. With information system, people are able to do more work in one time. For example, information technology will help call center to entertain customers while settle other customer problems. The phone line will interact with customers by asking them to push buttons. Thus customer will not feel bored and worker will not feel stressed to heard incoming call while on call.

Information system also cost effectiveness where it helps to computerize business process thus it can increases productivity and give better salary with no hard work.

Conclusion

To be conclude, business that applied IT will be productivity business and it create changes in our society. This changes advance information system will produce lots of benefits to business and business need to concern about the changes of technology to be more success. The more advance technology to more business will gain profit and maximize their waste. Thus, they can reach lots of customer all around the world by giving fastest information and clear communication.