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   ALAMA IQBAL OPEN UNIVERSITY ISLAMABAD Name: Zohaib Saeed Semester:   AUTUMN 2018   Program (COL MPA Program) Subject Management information system Subject Code ( 5567 )  Question # 1 IT has pervasive influence on nearly all areas of business. Despite key benefits, information technology has also brought various challenges to managers. What kind of issues may emerge while implementing IT in various functional areas? Introduction Most people do not know what the business is. Business can define as an organization or economic system where good and services are exchanged for one another or for money. As we know business always need some form of investment and enough customers to buy their goods or services and can gain profit for their business. Not knowing your definition of business success is like driving at night without your headlights on! You and your business may reach your destination, but it makes it a whole lot harder to navigate find your way and get there. To make business become success is depend how we manage it. How we apply technology in our business. As we know business not only has good products or services but business also in accordance with current development, especially in information technology. Information technology is a modern phenomenon that has dramatically changed the daily lives of individuals and business throughout the world. As we know information technology can define as a field concerned with the use of technology in managing and processing information. IT also includes office automation, multimedia and telecommunication. From this definition of what is business success and information technology we know that IT is a key to business success. Objective This paper will explore about how IT can be a key to business success. Our objective is we want to share how Information technology can make business successful. Information technology has grown to penetrate the business world, affecting how companies make and market their products, as well as how people communicate and accomplish their jobs in modern organizations. Modern information technology has gained popularity rapidly since the mid-twentieth century, and the trend is likely to continue into the future. As IT solutions to continue to increase efficiency and effectiveness of business operations and communications, business will continue to depending on IT to be success.  Business benefits of information technology Technology provides a variety of tools that entrepreneurs can use to assist them through the new company start-up and growth stages. Small business accounting, marketing and communication has been revolutionized by advances in computer, networking and communications technology, and business in various industries continue to adapt to take full advantage of technological developments. Accounting Setting up new software for accounting system is the best way to modern accounting software packages simplifies the process of setting up accounts and posting daily transactions. Managing accounts with a small-business accounting package such as Microsoft Money or QuickBooks can eliminate the need to hire full-time or third-party accountants. Accounting software also assists managers by creating informative reports and financial statements to increase decision-making effectiveness. Marketing With advanced video and graphics editing software, small- business owners can create marketing material that can reach thousands viewers online. Entrepreneurs can take advantage of cost-efficient web marketing tools to spread targeted marketing messages to a board audience or a select niche. Several small businesses can share expensive advertising space online through banner and traffic swaps. Time management Time management is important for any small business owner. Freeing up time from minutes of administration may allow you to focus on activities that are more productive, such as raising the morale of new business offerings and make important contacts with suppliers and potential strategic partners. Advances in computer and cellular phone technology allows business owners unprecedented access to in-depth scheduling and customer relationship management software, allows busy entrepreneurs to hold "face to face" meetings online, from anywhere in the world.    Communication Rapid communicate can help increase productivity, allow for better business decision making. IT equipment can be used to send business status reports to executives, to update employees on critical business projects and to connect with business partners and customers. Email servers, routers, internal company billboards and chat services can serve as the backbone of a company’s communications.   Competitive advantages Adoption of information technology resources allows companies to maintain a competitive advantage over their rivals. Companies using a first-movers strategy can use information technology to create new products, distance their products from the existing market or enhance their customer services. Companies that follow a low-cost product strategy can look to information technology solutions to reduce their costs through increased productivity and reduced need for employee overhead. Businesses can also build-in information technology to their products that makes it difficult for customers to switch platforms or products. Throws light upon the ten main challenges faced by managers in an organization.  The challenges are: 1.   Globalization 2.   Quality and Productivity 3.   Ownership 4.   Environment 5.   Strategy Formulation 6.   Ethics and Social Responsibility 7.   Workforce Diversity 8.   Change 9.   Empowerment 10.   Information Technology.  Challenge # 1. Globalization: Almost all home companies face the challenge of competition with their international counterparts. Small retailers, big manufacturers, all are competing with the international products. It has resulted in greater complexities, greater economic and political risk and uncertainty. The problems of internationalization are faced in the fields of goods and services, finance, human resource and advertising. An important question that managers have to answer, therefore, is “Should we focus on globalization or regionalism?”   “ Globalization means that activities be managed from an overall global perspective as part of an integrated system ” . Regionalism involves managing within each region with less regard for the overall organization ”. It is observed that most companies manage their finance and manufacturing activities at the global level and human resource and advertising at the regional level. Challenge # 2. Quality and Productivity: Companies compete with international competitors with respect to quality and productivity of goods and services. Successful companies have been able to maintain and enhance the quality of goods and services with fewer resources (productivity). Managers must, therefore, focus on producing more and better with fewer resources. Quality is “the totality of features and characteristics of a product or service that bear on its ability to satisfy stated or implied needs”. Productivity is “an economic measure of efficiency tha t summaries the value of outputs relative to the value of the inputs used to create them”. Quality and productivity are important determinants of business that affect its success. Challenge # 3. Ownership: Another area that concerns managers is ownership. Large foreign investors are buying stocks of home companies and ownership can be transferred in their hands. Profitability and productivity, thus, may suffer.
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