Introduction
An information system is a technique that keeps, operates, and provides information. It comprises five components; hardware, software, network, database, and people. These constituents combine to perform various integrated functions such as input, process, output, feedback, and control. When the components are effectively coordinated and utilized by an organization, the likelihood of having improved results in the operations undertaken by the respective entity is high.
Components of Information System
An information system encompasses five key components that act according to developed rules to facilitate various processes. They include hardware which entails a collective meaning of physical technology that states the different parts of a computer, such as a keyboard, monitor, and mouse. Next is software that entails a collection of instructions, data, and schemes applied to run computers able to tackle specific assignments. Another component is the people who work to facilitate the running of the system and involves recruitment, performance management, learning, and development (Edison et al., 2021). A system should also have a database that contains a well-organized collection of data that are stored in electronic form in the system. In most cases, large databases are stored in the cloud while the small ones are kept on a file system. The last part of an information system is telecommunication, which entails the connection of computer hardware to form a network.
Porter’s Forces Model
This theory explains the framework for comprehending the determinants of organizational change in the intensity of competition in trade. This insulation is to be served to know the power and value of a business in terms of understanding the toughness of an organization in today’s competitive bearings. Such is achieved by understanding where competency lies as well as identifying horizons to improve on the weaknesses and keep off misinterpretation.
The five forces include supply power; this survey looks at how much power the suppliers have in the market and how they influence the prices. The second factor is the threat of new entrants; this pressure is directed toward the likelihood of new firms entering the industry (Bruijl & Gerard, 2018). It examines the significant impacts such companies will pose to the already existing entities in the sector. The third force is the threat of substitute products; this potency looks at how undemanding for customers to find replacement products. If there are several alternatives in the market, there will be reduced contention, and thus the overall prices of commodities will decline. The fourth pressure is the bargaining power of buyers; generally, consumers have an extreme advantage in the market if they are fewer in numbers than the sellers. The fifth force is competitive rivalry; this compulsion covers the added advantage that companies have in the market over their competitors.
The collaboration information system is tailored with the intention of combining data and information that are associated with similar projects and fulfills the same purpose by combining the data to bring one desired output. A good example is Microsoft Teams that is used to conduct online classes or meetings. A database management system works on three important areas: the data and the database mechanism that allows data to be keyed in and modified. These help the users in creating, reading, and applying consistent data balance; an example is Microsoft Access. The content management system is in charge of creating and adjusting digital information. According to Berdik et al. (2021), this system supports multiple users in collaboration, and an example is WordPress. Knowledge management is the process in which information is gathered and shared within an organization. A good example of knowledge management is frequently asked questions (FAQs), which help employees to access required information freely.
Customer relationship management is the act of practicing and planning technologies that institutions and companies use to control their customer’s data all through their lifecycle. An example is providing a live chat to provide customer assistance. Enterprise resource planning (ERP), on the other hand, is software that expands an organization to make use of integrated applications. ERP software consolidates the operation of planning, development, manufacturing, sales, and marketing in one database, for example, ORACLE. Social media information system helps organizations in collecting, tracking and analyzing media data. Thus, all social media activities are monitored through this system; a good example is Facebook. The decision support system (DSS) is an electronic information system that supports decision-making in the business. The users can analyze comprehensive data and compile information, giving a concrete report that can help to solve problems and in making critical decisions. A perfect example is clinical DSS used by clinicians to provide diagnoses to their patients.
Threats to Information Security
Frequent visits to the internet bring more creativity to businesses. The threats are weak security, social media strikes, versatile malware, third-party entry, improper arrangement, and lack of coding. SDLC outlines the episodes of software developments and the order in which they are to be finalized. The SCRUM methodology is a known graceful development that highlights interactive development and teamwork. The similarity of both SDLC and SCRUM are interactive and progressive. The goal is to produce a service as possible, while the difference is that SDLC is traditional to software development while SCRUM is more agile greet.
Conclusion
In summary, MIS plays a significant role in facilitating communication, identifying possible challenges within the organization, generating useful information, and aiding in the process of decision-making. It, therefore, promotes effective and efficient management and administration operations within the respective organization. Businesses should embrace using the system to support their activities to improve their overall performance in the industry. By analyzing the data using MIS, a company will be able to have a proper insight into the trends in the market.
References
Berdik, D., Otoum, S., Schmidt, N., Porter, D., & Jararweh, Y. (2021). A survey on blockchain for information systems management and security. Information Processing & Management, 58(1).
Bruijl, D., & Gerard, H. T. (2018). The relevance of Porter’s five forces in today’s innovative and changing business environment. Available at SSRN 3192207.
Edison, H., Wang, X., & Conboy, K. (2021). Comparing methods for large-scale agile software development: A systematic literature review. IEEE Transactions on Software Engineering.