Information systems transform businesses and empower any sized business to have a global market. Businesses do not now have to be structured together geographically. Managers can be in New York, manufacturing can occur in California and the technical support for their product can be centered in India. Three major trends that are happening is that data is driving the applications instead of applications driving the data. Another trend is that technology is becoming cheaper and more accessible, requiring this to be taken into account in the business model. A third trend is that people are constantly on the move, putting emphasis on mobility and portability. Digital firms are identified as mostly being online. The challenges and opportunities facing the world today are numerous, chiefly among these is the connectivity one part will impact the whole. This allows data to be used worldwide at the same time as a hacker breaking into their files.
Information systems are essential to running and managing a business. These systems support decision making, provide coordination and control, analyze problems, visualize complex subjects, and create new products.
An information system is a system of components that act like a computer. Information is inputted in the system, and then processed, stored, and then the output is distributed. Information systems require structure. It requires an organization to set up, maintain and update these systems. Managing these systems is a facet in and of itself. Managing requires a vision of what will happen in several years down the road, and modifying the system to reflect what these lines of thought require. One the other hand of managing the system is the backbone of the system involving technology. Data is the information fed into the system. Information is all the data put together into a format that can be used to make decisions. Ways to transfer is information is done many ways. One of them is over the Internet. It is possible to communicate over the Internet using a specific set of rules that are outlined and followed by the World Wide Web.
4. What are complementary assets? Why are complementary assets for ensuring that information systems provide genuine value for an organization?
Answer: Are assets required to derive value