ICT

“Information and Communication Technology in Business”

“Information and Communication Technology in Business”

Reflection-1

In this assignment we will be focusing on the usage of information and communication technology in business known as the ICT, today in the present society in order to be successful while doing a business they need to adopt certain knowledge about ICT, they also need to discover the essential advantages that can be the result of information and communication technology in business. The main factor that can be observed is the that usually the ICT benefits the “small & medium sized enterprises” because there existence are dependant on other factors and the usage they get out of ICT in order to create developed organizational models. We will going over the interesting facts how business organizations operate with the help of information and communication technology ranging from the most valuable to least valuable.

1st valuable- the information System

The information system used one of the most valuable to date, involves the external and internal information flows that include the management, supplier's stakeholders and customers and the information flows between them. The internal flow involves vertical and horizontal information flow in which the horizontal flow takes place when the information is used basically at the level of operation in order to operations data and capturing transactions and the vertical information deals with the downward flows like budgets, quotas and instructions and upward flow with the operation data and aggregated transactions. All these users have different kind of information needs, the higher the level within the organization is the more their requirements are. Information is a very vital part because it is the resource of business including the survival of the contemporary business. The information system can be known as the set of formal procedures through which the data is collected, distributed among users, and processed into information. These include transactions that can be nonfinancial transactions or financial transactions. The transactions are also called a business event; these economic activities are capable of affecting the equities and assets of the business.

This information system also includes within itself the accounting information system that communicates processes, collects and identifies the entire economic details about the business that uses a broad variety of technologies; it also records and captures the firm's transactions and its financial effects. It is also capable of distributing the information about transactions to the personnel that can coordinate a number of major tasks. There are a number of characteristics of this valuable information that includes summarization, completeness, accuracy, timeliness and relevance all these have a purpose and accuracy for the individuals information that they need accordingly that would fulfil the needs. Since there are certain goals of the information system which is supporting the decision making of the management, day-to-day operations of the firm and stewardship functions of the management. This information system is functioning in these areas of the business that includes computer services, accounting, finance, personnel, distribution, marketing, production and material/inventory management.

2nd valuable- data, text, and document management

Information and ...