Essay Sample on Four Tools for Business Success: MIS, Value-Driven Biz, e-Biz, Info Security

Introduction

The internet and communication revolutionary technologies have changed the approach to which corporations operate, enhancing conventional methods, and even introducing new ventures and opportunities that were not possible in the past. Presently, commercial enterprises, regardless of size and influence, rely on business-driven Management Information Systems (MIS), value-driven business, e-business, and information security (Baltzan, 2019). Indeed, these four tools relate in various ways, but in this context, the links among them are core drivers of information period, for instance, data, information, business intelligence, and knowledge. Data is the unprocessed facts that identify and illustrate the attributes of an event or object. Information, on the other hand, is processed and synthesized data, and the outcome is meaningful and useful content (Evans et al., 2016). Business intelligence involves marking strategic decisions from the evaluated trends, patterns, and relationship of information gathered from several sources, for example, consumers, distributors, partners, competitors, and the industry as a whole. Lastly, knowledge involves the skills and expertise coupled with intelligence and information that strengthens one's intellectual abilities (Baltzan, 2019). In other words, the paper analyzes data, information, business intelligence, and knowledge as the critical links to business-driven MIS, value-driven business, e-business, and information security.

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According to technology studies conducted by Baltzan (2019), the core drivers of the information era have contributed to systems thinking. It is a manner to monitor the whole system by viewing several inputs being analyzed and processed to produce output while continuously collecting feedback from all the computing parts. It has enhanced the implementation of MIS by companies such as Netflix, Amazon, and Zappos, which strengthens the movement of information about objects, brands, and processes across the enterprise and enterprises to facilitate decision making and problem-solving (Baltzan et al., 2019). The core drivers of information expose business enterprises in developing a business strategy. For instance, in the case of introducing a new brand to the market, a company will need to have access to the core drivers of information to evaluate companies and consumers to interact with. For example, the availability of data, information, business intelligence, and knowledge will assist in attaining value-driven business. It will involve analyzing the values of the consumer and companies, understanding their stand on the affordability, quality and services, and client satisfaction the product is to present (Shipsey, 2010). Even after launching the product, the core drivers of information can assist the company in enhancing and be committed to consumer trust and loyalty, exercise ethical business, continuous improvement, authenticity, follow up and relation building.

Attaining value-driven business can be essential in two ways. The first advantage involves achieving competitive advantage; thus, the company will have access to competitive intelligence, which in return will strengthen its operational culture since it analyzes buyer power and supplier power. At the same time, it will evaluate the threats of substitute products. The second advantage involves giving the company access to which e-commerce company to partner with. According to Evans et al., producers have limited connection and stable relationships with the consumers. Still, suppliers and distributors have a better chance of finding out what clients need, and their connection is much better (2016). Using the core drivers of information, especially, business intelligence, a company launching a product will have access to e-commerce enterprises; therefore, giving the company an added advantage on analyzing the e-businesses, cross-referencing the values of both companies then reaching out to form a joint venture (Shipsey, 2010). Even while considering a joint venture or partnership with an e-commerce company, core drivers of information can assist in enhancing the levels of information shared between the parties or a way of encrypting the data in that it is not exposed to hackers and cyber-attacks (Evans et al., 2016).

Conclusion

To conclude, data, information, business intelligence, and knowledge are essential in operating a business in the present economy. These four elements enable a company to manage while it monitors the feedback of the input, processing, and output simultaneously. Also, it assists in establishing organizational values that assist companies in identifying potential partners, especially in the e-commerce sector. Finally, due to the vulnerability of technology because of hackers and cyber-attacks, information security assists in defining the encryption and decryption approach partner companies use.

References

Baltzan, P. (2019). Business-driven Information Systems (6th Edition). New York City, United States: McGraw-Hill Education.

Evans, A., Martin, K., & Poasty, M. (2016). Technology In Action Complete (13 Edition. London, United Kingdom: Pearson.

Shipsey, R. (2010). Information systems: foundations of e-business. London: University of London. Retrieved from https://london.ac.uk/sites/default/files/study-guides/information%20systems-foundations-e-business.pdf