E) list and describe six reasons why information systems are so important for business today.

operational Excellence

New Product, Services & Business models

Customer & Supplier Intimacy

Operational excellence  

Improved decision making  

Competitive advantage  

Survival

Explanation:

1) Operational Excellence – Information systems are essential tools available to managers in order to achieve optimum levels of efficiency and productivity in business operations thereby higher profitability.

2) New product services and business models – They play a vital role in the creation of new products and services. New business models help to create,describe how a company produce, create and sell the products for profitability.

3) Customer and Supplier intimacy – Information system provide the foundation of customer satisfaction. they make sure a business serves its customers well, thereby improving customer satisfaction that will enable customer to purchase more and generate revenue

4) Improved decision making – they generate real time data from the marketplace when making decision

5) Competitive advantage – Information System help in doing things better than competitors, charging less for superior products, and responding to customers and suppliers in real time all add up to higher sales, and higher profits

6) Day to Day survival – Information System help to provide ease in business

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