Assignment: TACC403 – Accounting Information Systems
TACC403 - Accounting Information Systems
Semester 1, 2014
Total Marks: 25% of total marks for TCC403
Due Date: Week 10
Student Name: Siyi Wang
Student ID: 20142321
Conclusion and Recommendation
Small businesses occupy a very important place in the economy. These businesses face many of the same problems such as lacking computer experience and do not have sufficient internal computer expertise and decisions as big firms but without the benefit of staff expertise and multiple managerial level. Thus, the top manager or managers must shoulder a much broader decision making burden both horizontally (marketing, production, finance) and vertically (strategic planning, management control, operations control). As a consequence, information systems to support managerial decisions should be as important, if not more, to the small business manager as to his larger firm counterpart. In this case, RTE, as a small business, need a help for information systems, and what we do is discussion their requirements.
1) Information system is made by hardware, software, infrastructure and trained personnel organized to facilitate planning, control, coordination, and decision making in an organization. 2) Information systems (also known as work systems) are machines such as computers that are run by people. These human-run machines are used in order to communicate with external people outside of the office (such as customers) via phone calls, text messages and emails. 3) The benefits of managing information systems in a business environment have changed over the years mainly because the focus itself has changed. RTE, as an economy of business, have gone from systems that dealt mainly in data processing and watched these systems forge into management reporting, decision support systems, strategic and end-user support, electronic business and e-commerce, and finally get a current day plateau of enterprise resource planning. 4) Office information systems could be used to support RTE because RTE is a small business that only use hardware, software and networks to improve work flow and facilitate communications among employees, which is called OIS.
Management information systems are used by organizations to track, store, manipulate and distribute information to the appropriate people when necessary. If RTE use a management information system, it can enable a business to streamline its operations into a cohesive functioning unit. Management information systems also support business decision-making by providing management with critical data. Three advantages can be enhanced, the organization's communication, reduce human labor, support short- and long-term business goals and distribute complex information.
Accounting to Porter (1980, 1985) and Porter and Millar (1985), in order to get competitive advantage such as increase profits over its competitors, a firm need to respond to five primary forces: 1. The threat of new entrants, 2. Rivalry among existing firms within an industry, 3. The threat of substitute products/services, 4. The bargaining power of suppliers, and 5. The bargaining power of buyers. In his recent study, Porter (2001) reemphasized the importance of analyzing the five competitive forces in developing strategies for competitive advantage: “Although some have argued that today’s rapid pace of technological change makes industry analysis less valuable, the opposite is true. Analyzing the forces illuminates an industry’s fundamental attractiveness, exposes the underlying drivers of average industry profitability, and provides insight into how profitability will evolve in the future. The five competitive forces still determine...
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