Bank Management Information Systems (MIS) Assignment Question and Answer

Words: 5000

 

Looking for Assignment Answer on (MIS) Management Information Systems in Business Today? Caestudyhelp.com knows best how to resolve students queries, like can someone do my assignment or who can help me write my assignment for me. Case Study Help has been considered the best MBA Assignment Service provider in all of Australia. With 3000+ PhD qualified experts, we can provide MIS Assignment writing services and Management Case Study Writing Services in more than 100+ subjects.

 

What is MIS? | Management Information Systems

Q1 State the two contemporary approaches to information systems and indicate their constituents.

• Technical approach
  • Emphasizes mathematically based models
  • Computer science, management science, operations research
• Behavioral approach
  • Behavioral issues (strategic business integration, implementation, etc.)
  • Psychology, economics, sociology

 

Q2 List the four (4) MAIN ACTORS OF management information systems.

• Suppliers of hardware and software
• Business firms
• Managers and employees
• Firm’s environment (legal, social, cultural context)

 

Q3 discuss the role of information systems in business today

• Information systems and the transformation of business
  • Increase in wireless technology use, Web sites
  • Changes in media and advertising
  • Emerging laws to combat cybercrime
• Globalization opportunities
  • Internet has considerably reduced costs of running business on the global level
  • The accompanying opportunities and challenges

 

Q4 Organizations make significant investments in information systems to achieve six strategic business objectives. Examine these strategic business objectives.

1. Operational excellence: Improvement of efficiency to attain higher profitability
2. New products, services, and business models: Enabled by technology
3. Customer and supplier intimacy:

• Serving customers raises revenues and profits
• Better communication with suppliers lowers costs

4. Improved decision making: More accurate data leads to better decisions
5. Competitive advantage

• Delivering superior performance
• Charging less for better quality products
• Responding to customers and suppliers in instantaneously

6. Survival

i. Information technologies as necessity of business

ii. Ghana Post introduction of money transfer facilities for traders

iii. Governmental regulations requiring record-keeping

 

Q5 explain the following terms

i. Information system:

• Set of interrelated components
• Collect, process, store, and distribute information
• Support decision making, coordination, and control

 

ii. Information vs. data:

• Data are streams of raw facts
• Information is data shaped into meaningful form

 

Q6 List the four features of a system

• Boundaries
• Sub systems
• Properties and interactions with its environment

 

Q7 Explain the three key activities of an information system

• Input: Captures raw data from organization or external environment
• Processing: Converts raw data into meaningful form
• Output: Transfers processed information to people or activities that use it

 

Q8 state the four (4) technology elements of information systems

i. Computer hardware and software

ii. Data management technology

iii. Networking and telecommunications technology

iv. IT infrastructure: provides platform that system is built on

 

Read Also: IT Management Assignment Help

 

Q9 Mention four (4) types of system failure

• Fail to capture essential business requirements
• Fail to provide organizational benefits
• Complicated, poorly organized user interface
• Inaccurate or inconsistent data

 

Q10 List four implications of poor project management

 

Q11 list the five (5) major variables of information systems project management

• Time
• Cost
• Quality
• Risk

 

Q12 In relation to Establishing the Business Value of Information Systems. Discuss the tangible and intangible benefits of information systems

Tangible benefits:

• Can be quantified and assigned monetary value
• Systems that displace labor and save space:
• Transaction and clerical systems

 

Intangible benefits:

• Cannot be immediately quantified but may lead to quantifiable gains in the long run
• E.g., more efficient customer service or enhanced decision making
• Systems that influence decision making:
• ESS, DSS, collaborative work system

 

Q13 discuss Four (4) kinds of structural organizational change enabled by IT

i. Automation: Increase efficiency; replace manual tasks, e.g. ATM

ii. Rationalization: streamline standard operating procedures to increase productivity, e.g. doing right things right, logical reconfiguration of work processes

iii. Business process reengineering (BPR): Analyse, simplify, and redesign business processes

iv. paradigm shifts: Rethink nature of business, define new business model, and change nature of organization

 

Q14 State the stages of effective business reengineering

• Determine which business processes should be improved
• Must avoid becoming good at the wrong process
• Understand how improving the right processes will help the firm execute its business strategy
• Understand and measure performance of existing processes as a baseline

 

Q15 explain system Conversion indicating the four main strategies in the conversion process.

Process of changing from old system to new system

Four main strategies

• Parallel strategy
• Direct cutover
• Pilot study
• Phased approach

 

Q16 what is prototyping and steps involved in prototyping

Building experimental system rapidly and inexpensively for end users to evaluate

Steps in prototyping

1. Identify user requirements
2. Develop initial prototype
3. Use prototype
4. Revise and enhance prototype

 

Q17 list three (3) advantages and three (3) disadvantages of prototyping

Advantages of prototyping

• Useful if some uncertainty in requirements or design solutions
• Often used for end-user interface design
• More likely to fulfill end-user requirements

Disadvantages

• May gloss over essential steps
• May not accommodate large quantities of data or large number of users
• May not undergo full testing or documentation

 

Q18 explain End-user development indicating six fourth generation languages

Uses fourth-generation languages to allow end-users to develop systems with little or no help from technical specialists

Fourth generation languages:

Less procedural than conventional programming languages

• PC software tools
• Query languages
• Report generators
• Graphics languages
• Application generators
• Application software packages
• Very high-level programming languages

 

Q19 list two (2) advantages and three (3) disadvantages of end-user development

Advantages:

• More rapid completion of projects
• High-level of user involvement and satisfaction

Disadvantages:

• Not designed for processing-intensive applications
• Inadequate management and control, testing, documentation
• Loss of control over data

Q20 discuss Four key technology trends that raise ethical issues.

Computing power doubles every 18 months

• Increased reliance on, and vulnerability to, computer systems

Data storage costs rapidly declining

• Multiplying databases on individuals

Data analysis advances

• Greater ability to find detailed personal information on individuals
• Profiling and nonobvious relationship awareness (NORA)

Networking advances and the Internet

• Enables moving and accessing large quantities of personal data
• Which of these patterns do you think might have the severest of consequences?
• Do the benefits outweigh the costs? Why and why not?

 

Q21 briefly explain four (4) Fundamental concepts that underpin ethical analysis of information systems and those who manage them

• Responsibility: Accepting the potential costs, duties, and obligations for decisions
• Accountability: Mechanisms for identifying responsible parties
• Liability: Permits individuals (and firms) to recover damages done to them
• Due process: Laws are well known and understood, with an ability to appeal to higher authorities

Q22 state exactly Immanuel Kant’s Categorical Imperative and interprets it.

• If an action is not right for everyone to take, it is not right for anyone
• Cuts across the entire society, e.g. an employee who steals money from his employer…if all employees attempted to do so the company will fall

Q23 state the Risk Aversion Principle: Take the action that produces the least harm or least potential cost

Q24 discuss briefly three Internet Challenges to Privacy

• Cookies
  • Tiny files downloaded by Web site to visitor’s hard drive
  • Identify visitor’s browser and track visits to site
  • Allow Web sites to develop profiles on visitors
• Web bugs
  • Tiny graphics embedded in e-mail messages and Web pages
  • Designed to monitor who is reading a message and transmitting that information to another computer on the Internet
• Spyware
  • secretly installed on user’s computer
  • May transmit user’s keystrokes or display unwanted ads
    • Individual experiences on cookies, spyware, etc.?

Q25 explain The Moral Dimensions of Information Systems

• S. allows businesses to gather transaction information and use this for other marketing purposes
• Online industry promotes self-regulation over privacy legislation
• Self-regulation has proven highly variable
  • Statements of information use are quite different
  • Some firms offer opt-out selection boxes
• Most Web sites do not have any privacy policies
• Many online privacy policies do not protect customer privacy, but rather protect the firm from lawsuits

 

Q26 what is P3P?

• Allows Web sites to communicate privacy policies to visitor’s Web browser – user
• User specifies privacy levels desired in browser settings

 

Q27 list five health risks of using information systems

• Repetitive Stress Injury (RSI)
• Computer Vision Syndrome (CVS)
• Role of radiation, screen emissions, low-level electromagnetic fields
• Technostress

 

Q28 Briefly discuss the four common strategies enabled by using it for dealing with competitive forces

• Vital features of organizations that managers must know in order to develop and use information systems successfully.
• Using information systems to design competitive strategies based on Porter’s competitive forces model
• The use of value chain and value web models to discover opportunities for strategic information system applications.
• How Information systems enable businesses apply synergies, core competencies, and network-based strategies to attain competitive advantage.
• The challenges/issues that arise by strategic use of information systems and management solutions.

 

Q29 Information systems can improve overall performance of business units by promoting synergies and core competencies. Briefly discuss the concept of synergies and core competencies with examples.

• Synergies: joining operations of separate business units so that they can function as a whole
  • Leading to diminished cost and increased efficiency?
  • When output of some units used as inputs to others, or organizations pool markets and expertise
  • Purchase of YouTube by Google

 

Core competencies

• Activity for which firm is world-class leader
• Relies on knowledge, experience, and sharing this across business units
• Example: Procter & Gamble’s intranet and directory of subject matter experts
• Google: search
• Microsoft: office productivity software,

 

Q30 discuss briefly three (3) management issues with the use of information systems for competitive advantage:

• Maintaining competitive advantage
  • Because competitors can retaliate and copy strategic systems, competitive advantage is not always sustainable; systems may become tools for survival
• Undertaking strategic systems analysis
  • What is structure of industry?
  • What are value chains for this firm?
• Managing strategic transitions
  • Adopting strategic systems requires changes in business goals, relationships with customers and suppliers, and business processes

 

Q31 list five elements of business value of customer relationship management

• Increased customer satisfaction
• Reduced direct-marketing costs
• More effective marketing
• Lower costs for customer acquisition/retention
• Increased sales revenue
• Reduced churn rate

 

Q32 explain the Meaning of customer relationship management

 

Q33 list five (5) significance of enterprise systems to business

 

Q34 explain enterprise systems

 

EASYWAY FOOD SERVICES LTD

A waiter in a recently-opened restaurant at Ahodwo takes an order at a table, and then enters it online via one of the six terminals located in the restaurant dining room. The order is routed to a printer at an appropriate preparation area: the cold item printer if it is a salad, the hot-item printer if it is a hot pizza or the bar printer if it is a drink. A customer’s meal check-listing (bill) the items ordered and the respective prices are automatically generated. This ordering system eliminates the old three-carbon-copy guest check system as well as any problems caused by a waiter’s handwriting.

When the kitchen runs out of a food item, the cooks send out an ‘out of stock’ message, which will be displayed on the dining room terminals when waiters try to order that item. This gives the waiters faster feedback, enabling them to give better service to the customers. Other system features aid management in the planning and control of their restaurant business. The system provides up-to-the-minute information on the food items ordered and breaks out percentages showing sales of each item versus total sales. This helps management plan menus according to customers’ tastes.

The system also compares the weekly sales totals versus food costs, allowing planning for tighter cost controls. In addition, whenever an order is voided, the reasons for the void are keyed in. This may help later in management decisions, especially if the voids are consistently related to food or service. Acceptance of the system by the users is exceptionally high since the waiters and waitresses were involved in the selection and design process. All potential users were asked to give their impressions and ideas about the various systems available before one was chosen.

Questions:

1. In the light of the system, explain the decisions to be made in the area of strategic planning, managerial control and operational control? What information would you require to make such decisions?
2. What would make the system a more complete MIS rather than just doing transaction processing?
3. Account for the factors responsible for the relative success story of this IS/IT facility from the standpoint of the users.