...Information Use Information Use Information can be used in a variety of ways in today’s world. Companies use it to track profits and losses others use it to see into future trends so they can make informed decisions about where their business should be in a certain market. According to Opara (2003) “Information is the life blood of modern organizations.” Without information organizations would be making decisions blind. Information in a modern organization flows in a circular motion. For an example of how a major car dealership uses information it gathers. A customer who is prospecting for a new vehicle enters a car dealership not sure of what kind of vehicle he or she may want. An associate greats the new customer and asks a few question to discover what the customer is looking for. This would be the input information that the associate will use to enter into an information system (IS) from this system the associate can help the customer choose what vehicle he or she may be looking for. The information is presented to the customer, after looking at the information the customer chooses a vehicle he or she wants to purchase. The associate inputs his or her personal information into an IS to qualify the customer for financing the vehicle. The information is used by the finance department to set up the financial obligation that the customer will have to pay. Once again the information is cycled back to the customer for his or her input. After the sale of the vehicle the information...
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...Information Use Crystal Mays-Hammond IT/205 July 27, 2014 Juan Vega Information, an essential asset for organizations, is always difficult to manage effectively—and it is even more so in periods of economic turmoil and transition, when complexity increases and the stakes are higher. For the past decade or more, organizations have been striving to build more open and collaborative relationships with their customers, partners, suppliers, and other stakeholders. When the recession took hold, many such initiatives took a back seat as cost-cutting became first priority. Organizations collect and distribute information. An organization uses information strategically in three areas: to make sense of change in its environment; to create new knowledge for innovation; and to make decisions about courses of action. These apparently distinct processes are in fact complementary pieces of a larger canvas, and the information behaviors analyzed in each approach interweave into a richer explanation of information use in organizations. Through sense making, people in an organization give meaning to the events and actions of the organization. Through knowledge creation, the insights of individuals are converted into knowledge that can be used to design new products or improve performance. Finally, in decision making, understanding and knowledge are focused on the selection of and commitment to an appropriate course of action. By holistically managing its sense making, knowledge building...
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...How Information Is Used and How It Flows In an Organization Student’s Name Class Title Due Date Instructor’s Name How Information Is Used and How It Flows In an Organization Information flows in different directions and different means: formally and informally, downward, upward and even horizontally through various levels. According to Opara, “information is the life blood of modern organizations” (Opara, 2003). Without “information”, organizations would most likely collapse as information is required to run the day-to-day doings of a business. Olowu states that “information entails data, facts, imaginations, ideas, opinions and cultural values in a variety of media which includes print, audio-visual materials and electronic processes” (Olowu, 2004). This shows how information flows within and between cultural groups. This represents an important part of “alternative conceptualization” (Nissen, 2002), which focuses on transaction (e.g. data to information, information to knowledge). This means data is necessary to produce information which, in turn, is necessary for creating knowledge that is conveyed (e.g. via paper, network, speech and observable action). And C.C. Aguolu feels that information is “the message of human experience” (Aguolu, 2002); rather, what is basically a stimulus assumes a response in the receiver, and possesses a response itself. This message can be made in any medium, in any language or in any subject. Some psychologists have even described...
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...Abstract: Information Technology (IT) Vs. Management Information System (MIS)-in the context of Corporate Management: Information Technology The central aim of IT management is to generate value through the use of technology. To achieve this, business strategies and technology must be aligned. IT Management is different from management information systems. The latter refers to management methods tied to the automation or support of human decision making. IT Management refers to IT related management activities in organizations. MIS is focused mainly on the business aspect, with strong input into the technology phase of the business/organization. A primary focus of IT management is the value creation made possible by technology. This requires the alignment of technology and business strategies. While the value creation for an organization involves a network of relationships between internal and external environments, technology plays an important role in improving the overall value chain of an organization. However, this increase requires business and technology management to work as a creative, synergistic, and collaborative team instead of a purely mechanistic span of control. Historically, one set of resources was dedicated to one particular computing technology, business application or line of business, and managed in a storage-like fashion. These resources supported a single set of requirements and processes, and couldn’t easily be optimized or reconfigured to support...
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...2012 Courtney Wilson Financial Statement Paper In any business or organization that is established there has to financial records kept consistently to be as follows; (1) compliant with federal business laws, (2) in accordance with Internal Revenue Service, and last no fraudulent reporting in profit gains. In this paper I will attempt to explain the four basic financial statements, describe their purpose, and the usefulness to both external and internal users. The four basic financial statements of any company or organization are as follows; (1) the income Statement, (2) retained earnings, (3) balance sheet, and (4) statement of cash flow. These statements are usually prepared at a specific time of the year, either on a monthly, quarterly, or yearly basis (Lewis, 2009). . The Income Statement basically shows the fees earned minus operating expenses to show if the company o organization is profitable. The Income Statement uses what we call a matching concept, which is, seeing if the expenses are matched with the revenue that is generated in the same time period as the expense. If the records show that the earning fees are more than the operating expenses, then the company or organization has definitely generated a net profit. However, if the operating expenses are greater than the earning fees than we can consider that company has a net loss The Retained Earnings Statement provides information based on previous income distribution to the owner and shareholders...
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...Introduction to Management Information Systems Summary 1. Explain why information systems are so essential in business today. Information systems are a foundation for conducting business today. In many industries, survival and even existence is difficult without extensive use of information technology. Information systems have become essential for helping organizations operate in a global economy. Organizations are trying to become more competitive and efficient by transforming themselves into digital firms where nearly all core business processes and relationships with customers, suppliers, and employees are digitally enabled. Businesses today use information systems to achieve six major objectives: operational excellence; new products, services, and business models; customer/supplier intimacy; improved decision making; competitive advantage; and day-to-day survival. 2. Define an information systems from both a technical and a business perspective. From a technical perspective, an information system collects, stores, and disseminates information from an organization’s environment and internal operations to support organizational functions and decision making, communication, coordination, control, analysis, and visualization. Information systems transform raw data into useful information through three basic activities: input, processing, and output. From a business perspective, an information system provides a solution to a problem or challenge facing a firm and provides real...
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...Information Use Ngoc Le CIS207 November 24,2013 Karen L. Miles Information Use Information is used everyday to keep you updated with your personal and work settings. Information used in a business is extremely crucial to an organization because it can help your organization grow and improve with new strategies with the new information collected. Information flow is data that goes in 2 ways among managers and departments. Information can flow vertically meaning flowing up and down among managers and horizontally for information traveling through different departments. In many organizations information is extremely important because without data flowing in and out of departments and passing through different people you can have a successful organization. Each manager is in charge of a different part and each departments covers different things in order to complete the job. With information passing vertically and horizontally it keeps everyone updated with new data. The five most basic departments every organization would be accounting that helps keep track of all the financial parts of the business, Production will produce the product, Marketing will handle all advertisements and selling the product, human resource department helps find and hire new employees and last would be researching all products and discovering new things. There are three different management levels in most organizations, Supervisors, Middle management and then you have the top management. Supervisors...
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...IT/205 | How information is used and how it flows in an organization | Mat Waer | How information is used and how it flows in an organization Before we can understand how information flows through a functioning business we need to understand the meaning of information. Information is defined on google as facts provided or learned about something or someone (Define Information). So, if we plug that definition into the original question Ask.com defines it as “Information is constantly flowing through organizations and acts as the blood of the company. When information is no longer allowed to flow through an organization, the organization will eventually begin to collapse.”("What Is Information Flow In An Organization?", 2015) Now, for the information to function correctly there needs to be a hierarchy from where the information comes from. I currently am an Executive Chef for a restaurant group here in Portland, Oregon. There are currently 15 restaurants, 3 bakeries and 1 fine dining restaurant with in the company. In order to be successful we need to have very defined path that information that flows with in our organization. First we have the Owner (Tracy) she oversees the entire flow of the business. Not so much the day to day but where the business flow thru the market, and the overall vision of the business. Then we have the CEO (Felix) he is the decision maker and leader of the company. Whenever control/systems change or need moved around he is the one...
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...Information Use Introduction Information flow through an organization is the process by which data is sent and received in both external and internal aspects (www.opengroup.org, 1995). External aspects are anything flowing into the organization or out from the organization. This flow, for example, can be represented by ordered supplies entering the company, or by finished product being shipped to the customer. Internal aspects are the flow of communication between all the companies working parts. These parts can be manufacturing, legal, finance, maintenance, etc. To effectively tie all these components together in a safe way, an organization might invest in an Enterprise Resource Planning system, or ERP for short. This system, although expensive, can monitor and control all aspects of data transfer within an organization. Using an ERP system can accurately report inventories, product details, work audits, and several other aspects of running a business (www.netsuite.com, 2001). Most important of all is accuracy. By Utilizing an ERP system the business will have several checkpoints where products and the processes for creating them are monitored. By always sending out the right product or information an organization can save a fortune in clean up costs and legal fees in the event of an error. An organization must also look at physical and network security options to protect all their assets, the integrity of the ERP system, and any other critical data flowing through...
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...INTRODUCTION TO MIS Management Information System plays a very important role in an organization. There is hardly a business magazine that dos not contain article about information system. MIS can be defined as – “A system which collects, processes, stores and distributes information to help in decision making for managerial functions.” (Planning, staffing, directing, controlling, organizing and budgeting) It may also be defined as Integrated user/ Machine system for providing information to support the decision making process. MIS is a computer based system, which presents both external and internal information of business. This system utilizes computer hardware and software, manual procedure for analysis, planning, control and decision making. These system do not take decisions but they assist in providing a necessary information as an input to the decision making process. MIS should provide information which is consistent, accurate, timely, economically flexible and relevant. MIS can be computerized or manual. MIS provides information in report format on regular basis to assist managers with decision which occur frequently and can be anticipated. MANAGEMENT Management has been defined in a variety of ways, but for our purpose it compromises the processes or activities that describes what managers do in the operation of their organization; plan, organize, initiative and control operations. INFORMATION Data must be distinguished from information. Data are facts and figures...
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...In today’s society, businesses and organizations complete various financial statements that will inform management, creditors, and investors of its financial status. Corporations complete financial statements, such as the income statements, balance sheets, retained earnings statement, and statement of cash flows on a monthly or annually basis. Financial statements must indicate true, accurate, and precise information according to the rules and regulations mandated by the United States of America government. Management, creditors, and investors review the financial statements that will provide him or her with precise information to answer his or her questions. Income Statement When businesses and organizations want to identify how the company is operating for a certain period of time the business or organization will complete an income statement. According to Kimmel (2009), the income statement identifies a business or organization’s revenues and expenses; the expenses are subtracted from the revenues, which determine the company net income or net loss (p. 12). A business or organization revenue is the income the company made through sales or services rendered. The company expenses are the costs to produce and sell a product or service (Kimmel, p. 11, 2009). The income statement is used to determine if a business or organization is successful or unsuccessful. In addition, the income statement would be of most interest to investors, creditors, and management. The income statement...
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...process to create information Information: Processed data Data process by machines giving information Information is used to run an organization efficiently Information used by managers to initiate actions TYPES OF INFORMATION Operational Information - used to day to day operations Example information needed by a shopkeeper: Daily sales account List of low stock items to be re-ordered List of overstock items Long overdue payments Profit loss account Tactical information - used to improve profitability Example information needed by a shopkeeper: Slow or fast moving items Reliable supplier of items Sales trends Strategic Information - information to expand business and explore new opportunities Example information needed by a shopkeeper: Whether to stock different varieties of items Whether to diversify Whether to start a new branch in a different locality Whether to start an e-shop Statutory Information - used to provide information to the government Example information needed by a shopkeeper: Income tax account Sales tax account MANAGEMENT HIERARCHY AND INFORMATION NEEDS QUALITIES OF INFORMATION Accurate Complete Timely Trustworthy Relevant Brief Up-to-date SignificanceEnsure correct input and processing rules Include all data Give at the right time Do not hide unpleasant information Understand user needs Summarize relevant information Include all data up to present time Use attractive formats and graphical charts Information System - consists...
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...The Flow of Information CIS/207 Organizations today use information in more than ways than one can count. Information is so important today because it is used by organizations and businesses to keep everyday business processes and day-to-day operations running smooth and without glitches. As I have looked at many business and organizational sources both in person and on the internet, I have found that a large majority of these have the information flow start at the top in the executive area. This is what I like to call the trickle-down effect. Information is set to flow among the business and organization and starts at the top and goes all the way to the bottom. During that time, information can be changed to allow only that information that is needed in a certain department or area. If it wasn’t for the information that is provided by businesses and organizations, the business infrastructure as we know it can come to a screeching halt. Keeping that information moving and safe is one of the most important jobs in the business world today. The Freedom Mission Inc. is a not for profit organization that I have had the opportunity to work with and help build their network. Freedom Mission consists of many branches of mentorship programs including middle school at risk mentoring, drug and alcohol counseling, anger management, parenting, and also works with the community to help economically challenged families in the community. The way the information flow pattern is...
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... b. Statement of Owners Equity iii. Changes in owners equity during a time period iv. Increases from Net Income v. Decreases from Withdrawals and Net Loss c. Balance Sheet vi. “Statement of financial position” vii. Lists all Assets, liabilities, and owns viii. As of a specific date + d. Statement of cash flows ix. Cash receipts and cash payments 2. Describe how changes to a company’s revenue and expenses affect their Income Statement and Balance Sheet. Revenues & Expenses on the income statement affect the Net Income, by increase whith revenue and decreasing with expenses. All of which effect the Owners Equity on the balance sheet. 3. How do changes in the Income Statement and Balance Sheet data affect a Statement of Cash Flows? Revenues in the form of payment receipts and expenses in the form of payments are both reflected on the cash flow statement from operating activities which are derived from the P&L. Cash flows from investing activities are which increase or decrease the cash flow come from the balance sheet. 4. Explain how you can evaluate the financial condition of a firm by reviewing the Balance Sheet. To discover the total entities assets, liabilities, and owners equity. By using the current ratio (total assets/ total liabilities) which shows the financial health of a company by determining how quickly, if at all, a company can pay it’s liabilities. If a company...
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...of Phoenix INFORMATION USE PAPER IT/205 Ivy Chiangwa Matthew Juliana April 24, 2015 This paper will discuss various aspects related to how information is used and how it flows in an organization. I will try to gain further insight by identifying the information flow in my current place of employment. Other than discussing the use of information, this paper will also discuss the various challenges in controlling the information flow and how can organization keep it safe from unauthorized use. Information flow and use in an organization It is important to first discuss information before describing its uses and how it flows. Information refers to data that has been organized in a way to give meaning and value to the recipient (Rainer & Cegielski, 2011). In an organization, the information can refer to various events, activities in a workplace or various transactions that are recorded and organized to convey a meaning. Information can also be contained in facts, ideas, imagination, opinions which can be present in various media such as print, audio and video (Olowu, 2004). Data is gathered using information systems which further process this data to convert it into useful information. Information is a necessity in every part of the organization such as finance, human resource, management, sales etc. Without information, the organization would collapse since information is the life blood of modern organizations (Opara, 2003). Usually information flows in two ways in...
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