Technology in management information system - MyAssignmenthelp.com

Question: Discuss about the Technology in management information system. Answer: Introduction The purpose of this report is to focus on the implementation proposal for the new information system in the sponsor organization. The sponsor organization that is selected for the study is National Australia Bank (NAB). This organization is one of the main sponsors of current wine industry in Australia. NAB is one of the biggest financial organizations in Australia in account of earnings, market capitalization and their customers (Barrons 2017). This company has been ranked 41st biggest bank in terms of total assets in the globe in the year 2014. Over the years, this bank has been giving financial support to their customers and businesses in this nation around the globe. The present study highlights on the current information system that exists in this financial institution. The steps of system development life cycle are also analyzed in this report. The information system that is being chosen for this report is the Management Information system (MIS). This information system refers to the information processing through computers as well as other technology for managing and supporting managerial decisions within the company. This information system mainly produces fixed and scheduled reports based on the data collected from the companys underlying transaction processing system to the managers of operational level in order to identify as well as inform semi- structured decision problems (Coronel and Morris 2016). The features of MIS and its advantage to NAB are also elucidated in this study. One of the vital roles of this information system is to provide right information to the managers for getting summarized reports. The report also reflects on how the MIS system addresses issues or opportunities present in this organization. MIS creating opportunity for this financial institution is also explained in this study. This information system facilitating NAB to improve their productivity is also discussed in this study. National Australia Bank as Sponsor organization NAB has been considered as one of leaders in offering banking services to the businesses in Australia. They seek in differentiating itself through belief in potential of their customers and employees. This belief encourages this financial institution in making positive effect on their clients as well as communities (Peppard and Ward 2017). In addition, they also underpin sustainable business for their shareholders. The vision of this organization is to believe in success. The mission of this bank includes- Providing specific solutions for present and future needs of their customers Establishing permanent relationship with their customers by providing high quality service. Making positive contribution for developing environment and society Creating proper business environment Identifying significance of profitability for achieving long terms success. The NAB group usually pursues sponsorship opportunities, which in turn clearly improves the financial performance of this organization. They delivers following outcomes including- Through sponsorships, this company tries to connect with their employees, customers in relevant way. Demonstration of core brand values helps them in enhancing the NAB brand Providing commercial opportunities for driving business outcomes This organization has dedicated excess of $4 million via the sponsorship as well as support of initiatives. The organization that NAB does not consider for sponsorship includes- Those that might be construed as discriminatory That might be detrimental to the public health Those company that promotes smoking or any abuse substance Representing donation whereby this financial institution does not get contracted advantage in exchange for fund The company that might present reputational risk Those having alignment to the political groups Existing information system in NAB Information system refers to the integrated set of the components that collects, stores and process data and also for providing information knowledge as well as digital products. The corporations use the information systems for processing financial accounts, managing their human resource and for reaching the potential customers via online promotions (Laudon and Laudon 2016). The financial institutions rely on the information systems in order to manage their suppliers as well as customers and compete in the competitive business environment. NAB has passed vital milestone in the agenda of transforming technology with new customer relationship management. They consolidate customers data on the CRM system. CRM systems refers to the set of software applications, which facilitates the company to determine the requirements as well as preferences of the customers by organizing, storing, managing and tracking the interactions with their customers. These systems allow the employees of the comp any to document everything that is from contact information to the particular conversations with their customers. Recent data reflects that this company spends more than $1 billion each year on the information systems. In fact, they have received excellence award for their new CRM systems. Moreover, this CRM system helped the NAB to identify as well as generate leads that is mainly based on vital reactive variation and events in the customers transaction pattern. This system also aids them to identify which consumers reflect switching signs for generating proactive service requirements. In addition, existing CRM systems in the NAB benefits the organization in several ways, which includes- CRM systems provide the company the ability to customize as well as personalize relationships with their consumers. It also aids the company modify their service level for matching the profile of customers. It also helped this organization attain feedback from their customers relating to the products purchased. Deployment of CRM systems provides the NAB view about the customers business, wealth and personal management accounts. This CRM system also improved NABs cross- sell opportunities with other banks. The CRM systems also motivate the employees of NAB to set as well as track goals. It also increased their efficiency level and saves their time. This CRM system also helped the workers of this organization in drawing data from the Consumer hub and presents it to the employees. It also helped the company in increasing accountability. The application of cloud based CRM platforms also increased the total revenue of the company. Steps of System Development Life cycle The systems development life cycle ( SDLC) refers to as the development of application life cycle that is specially used in information systems for describing the process of planning, testing, creating and implementing the information system. There are six steps of the SDLC that includes- Planning- During this step, the purpose of the project is mainly determined and hence the requirements in producing the commodity are considered. An estimate of these resources namely personnel are mainly prepared along with regards to concept for new commodity. In addition, the information gathered is evaluated for seeing that if an alternative solution is present for creating the new commodity. The main objective of this step is to determine the scope of the problem and solutions. Analysis- During this phase, the team mainly determines the requirements of project. Usually this is done by taking assistance of the focus groups that provides assessment of requirements and their expectation about the final good (Willcocks 2013). In this step, the end users requirements are analyzed for ensuring that this new system might meet their outlook. Design- In this step, the vital specifications, characteristics and operations that would satisfy functional needs of the new system has been described. It is mainly the architectural step of the system design. The data processing flow is usually developed into tables or charts and hence the project team evaluates the logical design as well as framework for flow of data (Coronel and Morris 2016). Construction- During this step, the plans that has been laid out in design phase is executed by the developers. The developers then frame the database, produce the code for data flow procedure as well as structure the user interface screens. Additionally, in this step the test data has been prepared as well as processed several times for refining the code. Integration and testing- This step involves integration as well as testing of system that is carried out by quality assurance for determining if the design meets the business goals. Moreover, all the varied aspect of system ate mainly tested for performance as well as functionality (Piccoli 2012). Mainly, the vital elements of this phase are to assess that the system includes needs of end user that has been laid out during the analysis phase. Implementation-In this step, the bulk of code for program has been written and when this project has been used in the production. This has been done by transferring data as well as components from old system and replacing them in new system. Operations and maintenance- During this phase, the end users fine-tune into the system for boosting performance and meeting additional requirements of user. Moreover, in this step the consumers receive the system as full scale conversion. Once the feedback from the clients starts, the code is usually tweaked for the performance problems. MIS oriented SDLC has different stages that includes- In the first stage, the management of the company is engaged in understanding the issue of the proposed system In the second stage, the environment under this proposed system will be needed for operation is scanned. However, meetings are held at various levels for understanding boundaries of existing system and mission of company. Meetings are also held with the personnel of MIS department to find the limitations and performance of this system. Lastly, active user interaction is done for understanding the requirements of user. Features of Managing Information System (MIS) and its benefit to this organization The proposed new system that this sponsor organization might implement for improving their operations is Managing Information System (MIS). At present, MIS runs on advanced computer networks along with software tools and wireless connectivity (Willcocks 2013). This information system helps the managers of the company make business decision based on their goals. An effective MIS facilitates the company in assembling the data available from entitys operations, external inputs and previous activities into the information. There are some vital features of an MIS that will give confidence to the decision makers of the NAB. These includes- Collection of data- MIS helps the organizations in storing the data in one of the two database system. The relational database firstly stores input from the users and then relates this data with other database throughout the new system. This database is then utilized into charts so that the users can make comparison of this data. On the other hand, the hierarchical database mainly stores data does not provide comparison charts for user. Report generation- MIS also uses the stored data in order to generate reports. The users of this system then determine the kind of report with particular templates for different kinds of reporting (Van De Walle, Turoff and Hiltz 2014) This information system then comply the required report by inserting the available data into template and then printing this into business. Accessibility and Integration- This information system functions with open accessibility. Accessibility defines that the temporary MIS might be integrated with other systems by enabling variation to data from varied sources. The company might update the system for providing data in relation with policies. Relevance- Effective MIS takes the information that mainly originates in those activity areas that concerns manager and then organizes it for making business decision. This information system also helps the manager in making pricing decision by taking sales data and display profit projections for different pricing condition. Timeliness-The management of the company makes business decision based on the current data. If the data is current, then the decisions of the company will reflect current reality. Furthermore, when collection as well as processing of information delays, then the MIS generates the result by taking into consideration its inaccuracies. Accuracy-One of the key measurement of effectiveness of MIS is accuracy as well as reliability of information (Galliers and Leidner 2014). In fact, the sources of data mainly determine whether it is reliable information. Even the historical performance also serves as measurement of accuracy as well as reliability of output. Scalability- Another vital feature of MIS is that the business might purchase the system with smaller version and then add according to availability of cash. The businesses might add data capabilities and system features to this initial system owing to development of business. Usefulness- The information that the manager receives from MIS might be relevant but is useful if aids them in making specific decisions. Completeness- Effective MIS highlights most relevant as well as useful information for specific decision. This system also highlights those gaps if there is missing data, which in turn displays possible circumstances. This proposed system would help NAB in aggregating, analyzing and reporting the financial data that is vital for prudent risk management as well as decision making. This information system will help this sponsor organization in generating several reports that has been used in normal business course for monitoring their risk, financial performance and operations. This would also aids the bank in maintaining their position in competitive business environment (Majchrzak and Markus 2012). Implementation of this prolonged system will increase the efficiency of their managers as they have to assess the applications portfolio in respect of technology as well as their rivalries. In addition, the managers of this organization must adopt varied MIS strategy in order to gain competitive advantage. Adoption of MIS would help NAB for compiling data in central location and also to prevent loss of information (Barrons 2017). Furthermore, it will also help the management of the bank in creating busi ness opportunity and improve overall productivity. This information system will aid the managers of this sponsor organization in providing better connectivity between the management of different sections within the company. This system also addresses few problems that exist in this sponsor organization. These includes- Quantity, context and basic content of the information Not making huge amount of money At present, NAB faces problems as they are not making huge return on investment, return on equity. However, this helps the organization in addressing this issue (Coronel and Morris 2016). Customer expectation-Now- a- days, NAB has been facing huge pressure as they are unable to deliver good level of service to the customers. As a result, this organization has been unable to meet the expectation of customers. MIS adoption also helps them in solving this issue. Regulatory pressure- The regulatory requirements continued to rise and hence NAB are required to spend huge portion of their discretionary budget on building systems as well as processes for keeping up with escalating needs. However, adoption of MIS will help the company in improving their operations. Developing, testing and implementation of MIS in NAB The development procedure of MIS is mainly related with long term plan of the company. MIS specially requires certain resources including capital, time and capacity (Piccoli 2012). The plan of MIS is developed parallel to plans of the business. MIS can be developed mainly in two different ways including- Prototype method Life cycle approach The designers of MIS must thoroughly examine the present decision- making system of this sponsor organization. However, they require study of various levels of the decision makers as well as the priorities of these individuals. This system can be developed in this company through different stages- Pre-testing of this system as well as training of these operators- Before putting this system in this company, this system should be pretested (Pearlson, Saunders and Galletta 2016). If this system is not pretested, then there might be some problems regarding changes in this system. In addition, proper training must be imparted to managers of NAB for understanding this system and making proper use of it. Proper planning for the information storage- NAB should make proper arrangement for storing the information. Moreover, all the information must be kept in the disaggregated files (Galliers and Leidner 2014). Various decision makers along with same information requirements must be identified in order to group them together for information dissemination. Mechanism for collecting as well as processing of data- Appropriate methods for data processing should be selected by NAB (Peppard and Ward 2016). This mainly needs determination of those steps for gathering, storing, assessing, transmitting and recovering the information. Furthermore, the system of controls must be developed for identifying as well as correcting deficiency, which might occur in this system. Appropriate arrangement for distribution of information- Appropriate arrangement must be made by the NAB for information dissemination at right time to different decision makers. Apart from this, proper formats must be designed by this company for information dissemination to different decision makers by regarding their needs. Review of this information system at periodic intervals- This Company must review the function of MIS at periodic intervals. This review in turn also helps this organization in recognizing deficiencies to existing MIS. Hence, making proper changes will help the NAB in overcoming various deficiencies (Petter, DeLone and McLean 2013). Testing helps the company to determine whether this system generates the desired outcome under known circumstances- Unit Testing- The NAB must adopt unit testing process as it separates each program in the system. System Testing- This sponsor organization must also test the functioning of this information system for determining if discrete modules might function as planned (Coronel and Morris 2016). Acceptance testing- This company must provide final certification so that this system is ready to be utilized in the production setting. The implementation of MIS in this sponsor organization includes- The NAB must ensure that the effort of implementing this new information system has acceptance of their management This sponsor company must enlist the participation of the user from time to time They must realize user that serve as appropriate guide of this system This company must identify the role of the user in the system They must ensure that there will be proper change in the system from time to time This organization must conduct episodic meeting with the user from time to time They should provide appropriate training to the user with appropriate guidelines about utilization of system Problems that might occur in NAB while implementing MIS The NAB might face several problems with MIS including- Lack of management support Improper assortment of hardware as well as software tools Unskilled employees also faces problems in using this information system The employees faces difficulty in obtaining sensitive information Problems also arises from oversupply Therefore, it is recommended that the organization must focus on the above stated problem before implementing this system. Moreover, it is suggested they should monitor the whole operation procedure before and after implementing MIS in order to avoid these issues. Conclusion The above report reflects that information system plays vital role in the sponsor organization. These organizations should implement different types of information system including ERP system, MIS system, CRM system etc for managing their different sections. These systems have become the vital tool for the mangers of these organizations in order to make business decision. As the managers of these organizations perceive information in order to achieve success in the business, there is need for MIS. In addition, well defined MIS system with proper implementation of strategy of the managers positively impacts on managerial decision. The above report reflects that NAB requires proper implementation of MIS in the business in order to improve their operations and increase efficiency. It is also required for the managerial report production specialized tools. Moreover, adoption of these information systems helps this company to enhance overall efficiency as well as effectiveness of the proc ess. Behavioral researches describes that this information system aids flattening of hierarchies by widening information distribution to empower lower level staff. In addition, this MIS utilizes networks that help this organization to decrease the cost of transaction. This system saves lots of time as well s resources for the owners. This system plays the role of institutionalize of the data base, which might keep it confidential. References Barrons, K.P., 2017. Flipped Instructional Technology: Developing MIS Competencies Applying Enterprise Resource Planning. InBlended Learning: Concepts, Methodologies, Tools, and Applications(pp. 702-712). IGI Global. Coronel, C. and Morris, S., 2016.Database systems: design, implementation, management. Cengage Learning. Galliers, R.D. and Leidner, D.E. eds., 2014.Strategic information management: challenges and strategies in managing information systems. Routledge. Laudon, K.C. and Laudon, J.P., 2016.Management information system. Pearson Education India. Majchrzak, A. and Markus, M.L., 2012. Technology affordances and constraints in management information systems (MIS). Pearlson, K.E., Saunders, C.S. and Galletta, D.F., 2016.Managing and Using Information Systems, Binder Ready Version: A Strategic Approach. John Wiley Sons. Peppard, J. and Ward, J., 2016.The strategic management of information systems: Building a digital strategy. John Wiley Sons. Petter, S., DeLone, W. and McLean, E.R., 2013. Information systems success: The quest for the independent variables.Journal of Management Information Systems,29(4), pp.7-62. Piccoli, G., 2012.Essentials of Information Systems for Managers: Text Only. Wiley Publishing. Van De Walle, B., Turoff, M. and Hiltz, S.R., 2014.Information systems for emergency management. Routledge. Willcocks, L., 2013.Information management: the evaluation of information systems investments. Springer.