Consequences Information Systems Planning -Myassignmenthelp.Com

Question: Discuss About The Consequences Information Systems Planning? Answer: Introduction Strategic information system is developed to facilitate business activities of organisations. The strategic information system is capable to offer a competitive edge to each and every organisation. Besides that, it offers cost-effective service. The strategic information system is helpful for the organisations for storing, accessing and processing sensitive data (Kavanagh and Johnson 2017). It helps the organisations to apply several tools so that the business activities can get enriched (Marabelli and Galliers 2017). The strategic information system provides several opportunities so that the business operations can get improved. Qudos bank has been chosen as case study for the report. Qudos bank is currently suffering from issues like storing, accessing and processing data of the database. They have struggled to implement the strategic information system appropriately in their premises. The report will suggest Qudos bank how they can improve their business with the help of information system in appropriate manner. The report explains the six main components of the strategic information system. The report explains various components of the strategic information system and the including outsourcing, end-user computing with respect to Qudos banking (Andersen and Andersson 2017). The information system strategy adds value to the organisation. The internal control in the can enhance the business activities of any organisations including Qudos Bank. the report will illustrate all the management aspects of Qudos bank in details in the report. The report will compare and contrast the issues and challenges, it will a lso critically evaluate the information system strategy. The strategic information system can bring innovations to Qudos bank. The strategic information adds value to Qudos bank. The report critically evaluates internal control. Qudos bank can get the competitive edge Discussion Qudos Bank is an Australian mutual bank. The bank is popular providing various financial services. The financial services include the credit cards, savings, home loans, car loans. Qudos bank provides the financial planning assistance to the Australian citizens (Yang 2017). The bank deals with foreign exchange products. Qudos Bank is a public sector bank. The bank has eleven subsidiaries all over Australia. The bank acquires its registration in the year 1959 and began operating on 1 November of the year. Qudos bank was previously known as the Qantas Credit Union. The bank is the customer owned bank. Now, Qudos Bank has about one lac member. The financial organisation is known to offer retail banking products. Qudos bank offers membership facility to the current as well as the former employees (Barata and Cunha 2017). The employees families and relatives are also given the opportunity so that they can register with Qudos bank and can get the membership facility. The bank offers various ranges of products and the services. The services they offer are- Deposit Accounts- Loan offset accounts, fixed interest rate term devices and savings accounts are some of the facilities that fall under this category (Moran and Morner 2017). Payment services- BPAY, debit card, telephone banking fall under this category. Retirement savings account- superannuation accounts and varied interest rate fall under this category (Jali, Abas and Ariffin 2017). General insurance- Qudos Bank offers the general insurance service for home and household components, CTP insurance, caravan and motor vehicle. Managed investment schemes- the managed investment scheme consists of the portfolio services directed by the investor (Wildavsky 2018). Life insurance- Qudos bank offers life insurance to the individuals who are disabled; it offers services to the customers who are suffering from critical illness. Qudos Bank also offers credit products like the home loans, personal loans, credit cards and overdrafts facility to the customers (Jali, Abas and Ariffin 2017). Qudos Bank caters cost effective flexible home loans to the clients and the customers. The customers registered with Qudos Bank will not have to pay annual fee, no establishment fees and other package fees. The bank also provides free monthly transaction allowance so to use ATMs. Qudos Bank also gets numerous benefits like the financial as well as the training assistance from their business partners (Nambisan et al. 2017). The staffs also get numerous benefits; they get incentives from the business partners. Comparing and contrasting the issues and the challenges that can Qudos Bank faces There are several challenges and issues associated with the strategic information system. All these challenges have been showcased in the report. The issues and the challenges have been compared and contrasted in the report (Sroufe and Joseph 2017). Both the public sector and the private sector have faced several challenges while trying to adopt and maintain IT/IS technology in their sector. i) Private Sector: the private sector bank has faced several risks and challenges and all these risks have been detailed as follows- a) Risk Management in the private sector: The private sector bank suffers mainly from the risk management issue. The government banks generally receive more security compared to other private banks (Nambisan et al. 2017). That is why the private banks are also concerned about the security features. The security issues can lead to heavy losses. b) Other banks involvement and association: The private sector banks suffer due to the involvement of the other bank. Thus the involvement of other banks can prove to be a serious challenge for the private sector bank. c) New items launch: The third challenge that the private banking sector can face is the introduction of new features, new scheme or new items. The new items or the new scheme can contain the security risks (Jali, Abas and Ariffin 2017). The customers can dislike any feature the bank has implemented and can simply reject the feature, the bank can suffer heavy losses due to this reason. d) Interest Rate: The high rate of interest is another challenge for the private banking sector (Moran and Morner 2017). The customers may not be able to afford the services that the bank offers. The strategic information system planners can face several issues while adopting and maintaining the IT/IS in a strategic way all these issues have been highlighted in the report. ii) Public Sector: The public banking sector like the private banking sector can face risks and challenges while dealing with the strategy development (Barata and Cunha 2017). The strategic information planners have to perform several operations and they will have to take go through several challenging situations. The challenges that they can face are: a) Capital Base: The poor capital base is one kind of challenge that the public sector bank can face. The capital base is acquired in general via initial public offering. The public banking sector generally earns very low capital base compared to other private banks (Schulze and Heidenreich 2017). Qudos Bank is no exception, they also suffering due to the low capital bases. b) Comparatively less number of subsidiaries: The public sector banks, unlike the private sector bank, contain relatively less number of subsidiaries (Ertek et al. 2017). The less number of bank branches can be a threat and challenge for the public bank. They have fear of losing branches as well. c) Technology gap: The technology gap can be a serious threat to the public sector banks (Tarafdar and Qrunfleh 2017). These banks are using technologies which are of no use today, besides those technologies are ineffective and are full of security threats. d) Quality of service offered by the public bank: The public sector bank is often criticised to provide poor quality service (Kamariotou and Kitsios 2017). These banks are struggling for not offering the quality services and not meeting the customers demands. The public sector banks suffer from the challenges described above. Qudos Banks IS adaptation and critical Evaluation of IS Strategy The information system strategy for Qudos Bank has been illustrated as follows- i) Updating prevalent Qudos Banks IS strategy: Qudos Bank must act responsibly and must take the responsibility to update the system. The bank should update the system on a constant basis. ii) Appointing new employees: Qudos will have to change the prevalent management system and will have to adopt a new management system. The new management system has planned to incorporate IS strategy to the management system (Aguinis, Edwards and Bradley 2017). They will have to appoint talented, hardworking and creative people. These people have the capability to bring innovation to the bank premises. iii) Maintenance of Qudos banks system and database: Qudos Bank with the aid of the newly adopted management system can manage the business and the financial operations (Ertek et al. 2017). The IS strategy can help Qudos bank to maintain their system and the database. iv) Maintaining Security: The IS strategy can also help Qudos Bank to ensure security and privacy within the bank premises. Security is one important aspect of the bank, and Qudos should not compromise at all. Qudos Banks adopting new and innovative ideas Qudos Bank with the help of information system can adopt certain strategies by which they can furnish the business and financial activities of the bank (Ertek et al. 2017). The seven most utilised approaches that can improvise the business activities are defined below- i) Mandate creation: Mandate creation is one kind of approach and this approach can be helpful in improvising the business activities of Qudos Bank. A mandate generally provides direction so that changes can be implemented within the organisation. The mandate is associated with distinct strategy and the strategy is expected to bring innovations to the bank premises (Seidel et al. 2017). The top level management's role is to create a mandate. The top-level management is the initiators of the mandate adaptations and improvisations (Ertek et al. 2017). They also approach towards the people with a similar passion for the creation of mandate. ii) Be any Model: Be any model is one kind of approach following which Qudos Bank can become innovative. The top-level management should adopt all the strategies so that they can work effectively and successfully (Kamariotou and Kitsios 2017). Qudos bank should prioritise the business thinking as well as business thinking. iii) Discussing issues and challenges with the stakeholders and the employees: Qudos Bank must ensure that the information system should analyse the issues aroused in the system and should make sure that there exist no loopholes in the decision-making procedures and the problem-solving techniques (Kamariotou and Kitsios 2017). Qudos bank should provide train with their employees in such a way that they can analyse the issues and sort out the issues themselves with ease (Seidel et al. 2017). The employees can be able to find out the best solution by which they can mitigate the issues effectively. iv) Development of dedicated team: Qudos Banks dedicated team must analyse the issues or the problems well, Qudos bank can get to know about various solutions by which the issues aroused can be well mitigated (Tarafdar and Qrunfleh 2017). The team will get to know about any other alternative solutions by which Qudos bank can improve their business activities. v) Qudos bank providing access to the people: Qudos Bank deals with the customers. The customers should be provided with appropriate login access. The customers feedback is essential for the business (Abdelwahed, Mahmoud and Bdair 2017). Qudos Bank must consider the feedback from the customers as that can help the bank to know where they should make improvements. vi) Designing Systems and Building System: Qudos Bank should design and build system in such a way that the system the new management system can provide effective service in a profitable manner (Lapsley and Rekers 2017). The new management system can provide them with the solutions so that they can get the competitive edge. vii) Establishing a business network with other workers of the bank: The workers working in Qudos bank must discuss with each other and they must consider the business networking (Ba and Nault 2017). The workers can discuss with each other the issues that can occur in the bank and based on that they can take critical decisions for solving the issues. Outsourcing vs End-User Computing in Qudos Bank Outsourcing is one kind of approach by which any company provides important functionalities to effective and specialised service partners. This approach can give the opportunity to Qudos Bank to work with experienced and effective partners in the business (Deresky 2017). In some cases, the outsourcing involves the employee's transfer from one organisation to other. EUC or end-user computing defines a platform where the non-programmers get the opportunity to work with numerous applications (Wheelen and Hunger 2017). The end user computing is one sort of computing that incorporates the end users into the programming environment. Outsourcing is the best among all. The IS/IT Strategy can bring immense benefits to Qudos Bank. The IS/IT Director must adopt the IS strategy and must deploy it effectively to get the maximum benefits (Tucker et al. 2017). The report has highlighted how the Director can be benefitted by the usage of IS/IT Strategy and they are as follows- i) Qudos Bank focusing on Basic Actions: Qudos bank can enhance their business operations with the help of IS Strategy. The financial operations and the business operations can get enhanced and the bank should focus on these basic operations to gain the desired profit they want (Wheelen and Hunger 2017). Qudos Bank must also focus on the outsourcing of financial and business operations. ii) Expenses Savings and Efficiency in Qudos Bank: Qudos banking must choose the outsourcing activities. The outsourcing operations help in expense savings. Alongside expenses, the banks efficiency also gets increased (Tucker et al. 2017). The savings expenses, as well as the effects, are helpful for Qudos bank as the bank can gain profit. iii) Lessening Overhead: Outsourcing assists in lessening the cost of overhead, this approach can prove to be beneficial for the bank (Wu 2017). The overhead costs for the carrying out the back-office operations are comparatively very high. iv) Qudos Bank Control in Operations: The business operations can go out of control; however, the operations can be controlled by means of outsourcing (Tjemkes, Vos and Burgers 2017). Any department of Qudos Bank can suffer as a result of the poor controlling and poor administration. Qudos Bank as a result of outsourcing can acquire the best possible outcome. The bank can get cost-effective service due to the outsourcing (Rahimi and Kozak 2017). Thus outsourcing can help them to gain numerous benefits. v) Qudos Banks Staffing Flexibility: The adaptation of new management system can be problematic for any organisations and Qudos Bank is no exception (Serenko and Bontis 2017). The flexibility in staffing is a vital aspect with regards to outsourcing. The staffs contribute to the success of the bank (Rahimi and Kozak 2017). Various kinds of business operations can be managed with ease with the aid of outsourcing. vi) Risk Management in Qudos Bank: Risk management is another important aspect that must be considered by all the organisations. Qudos bank management team and the Qudos banks workers must consider the risk management as well in their premises (Durand et al. 2017). The outsourcing can help the bank to manage the risks involved in the business operations; the risks can be managed to invest a minimal amount. vii) Developing Internal Staff: The large projects can only become successful or can be successfully accomplished is the staffs and all the employees work well in the project (Durand et al. 2017). Similarly, in case of Qudos bank, the management team must train their employees well (Wolf and Floyd 2017). the internal staffs and the workers of the bank stay in charge of managing the business operations and outsourcing the business operations. The training will help the employees to hone their talents and skills. The employees can bring out any new innovative approach. Strategic Information adding value to Qudos bank via IT/ IS i) Implementing Strategic Information Role: The adaptation of information system technology in the organisation premise always adds value to any organisation and Qudos Bank can acquire several benefits with the aid of information system strategy (Ayabakan, Bardhan and Zheng 2017). The strategies have been illustrated below. They are- The first phase provides the relevant information required to carry on the investigation of the business procedures. The first stage involves the behavioural traits of the management staffs and approaches towards employees and the business tasks (Harris 2017). The first phase also deals with the expenses that must be paid. In this stage, Qudos bank can learn about the competitors. the second stage deals with mission and strategies- The strategic decisions depend on - Targeting the appropriate market The location of office premises Development of new products (Ayabakan, Bardhan and Zheng 2017) Launching of new products Promoting the products Budget associated with the project Identifying the needs of the customers or the users: The customers demands and wishes must be recognised and the bank should meet all the demands of the customers if possible. The needs of the customers add value to the bank (Harris 2017). Qudos bank can gain competitive advantage, they can get huge Segmentation of the market: market segmentation is one of the aspects of running the business. The segmentation assists in making a specific group of customers (Ayabakan, Bardhan and Zheng 2017). Qudos bank can get benefits by segmenting their office departments, business procedures into appropriate segments. Critically discuss Good Internal Control Good Internal Control must take into consideration by each and every organisation. The characteristics of effective internal control assist the organisations to carry out the business activities (Aguinis, Edwards and Bradley 2017). the business operations can be helpful to safeguard the business assets of the business. Control Environment: The control environment is basically the companys approach and the companys attitude towards the internal control of the business activities. Qudos Banks system can become disrupted if the management system of the bank overrides the controls that are in place (Kamariotou and Kitsios 2017). The internal control of the bank can get threatened due to the management override of controls. Risk Assessment: Risk Assessment is the methodology by which the threats and risks can be analysed, the organisation can have the knowledge to identify the threats beforehand and they can take initiatives accordingly (Sroufe and Joseph 2017). Qudos Banking can be similarly benefitted with the help of risk assessment. Information and communication: The communication components are responsible to accumulate the spread the relevant information related to the internal control. All these communication components can be helpful for the employees (Schulze and Heidenreich 2017). The employees can perform better with the aid of the communication segments associated with the ongoing control efforts. Monitoring: Monitoring is the procedure which ensures that the internal control system (Kamariotou and Kitsios 2017). The effective monitoring involves the procedures by which the business procedures can be better managed. The ineffective control can be better traced with the help of the management system (Aguinis, Edwards and Bradley 2017). Qudos bank management team with the help of monitoring can get to know about the changes made to the system and can be able to complete the business tasks within the given scheduled time. Control Activities: The control activities are the activities that are carried out by the management body of the organisation (Tarafdar and Qrunfleh 2017). The management team of Qudos bank can assure the internal control in an effective way. The control activities can help to know the problems Qudos bank is facing. A report will be made based on the analysis. The results of the analysis are shared with the employees (Abdelwahed, Mahmoud and Bdair 2017). All the employees of the bank along with stakeholders and management body with the help of internal control can design the system well. Conclusion It can be concluded from the above discourse that the information system helps any organisations in every possible way. Qudos Bank can be significantly benefitted with the aid of the information system. The bank must adopt and use the information system in an effective manner, the efficient approach can be able to meet the goal and objective of the organisation. Since Qudos Bank has decided to adopt the strategic information system and planned to undertake all the activities simultaneously, they must have an effective strategic plan. The strategic plan requires about one year completing the plan. All the associated stakeholders of the bank must cooperate and must undertake the project activities. One of the benefits that the strategic information offers is that it involves every stakeholder of the organisation. The other advantages the strategic information offers are decision making and the data mining capabilities. ERP is a better option for strategic planning in Qudos bank. The re port explains how the enterprise resource planning software can facilitate the growth of the business growth of Qudos Bank. Qudos bank can become famous for the effective implementation of the strategic information in the premises. Qudos bank with the help of information strategy is able to achieve their goals and objectives. The report illustrates between end-user computing and outsourcing. Internal control concepts have been explained in this report too. References Abdelwahed, A.S., Mahmoud, A.Y. and Bdair, R.A., 2017. Information Security Policies and their Relationship with the Effectiveness of the Management Information Systems of Major Palestinian Universities in the Gaza Strip.International Journal of Information Science Management,15(1). Aguinis, H., Edwards, J.R. and Bradley, K.J., 2017. Improving our understanding of moderation and mediation in strategic management research.Organizational Research Methods,20(4), pp.665-685. Andersen, T.J. and Andersson, U., 2017. Multinational Corporate Strategy-Making: Integrating International Business and Strategic Management. InThe Responsive Global Organization: New Insights from Global Strategy and International Business(pp. 13-34). Emerald Publishing Limited. Ayabakan, S., Bardhan, I.R. and Zheng, Z., 2017. A Data Envelopment Analysis Approach to Estimate IT-Enabled Production Capability.MIS Quarterly,41(1). Ba, S. and Nault, B.R., 2017. Emergent themes in the interface between economics of information systems and management of technology.Production and Operations Management,26(4), pp.652-666. Barata, J. and Cunha, P.R., 2017. Synergies between quality management and information systems: a literature review and map for further research.Total Quality Management Business Excellence,28(3-4), pp.282-295. Deresky, H., 2017.International management: Managing across borders and cultures. Pearson Education India. Durand, R., Grant, R.M., Madsen, T.L., Zhao, E.Y., Fisher, G., Lounsbury, M. and Miller, D., 2017. Optimal distinctiveness: Broadening the interface between institutional theory and strategic management.Strategic Management Journal,38(1), pp.93-113. Ertek, G., Tokdemir, G., Sevin, M. and Tun, M.M., 2017. New knowledge in strategic management through visually mining semantic networks.Information Systems Frontiers,19(1), pp.165-185. Harris, E., 2017.Strategic project risk appraisal and management. Routledge. Jali, M.N., Abas, Z. and Ariffin, A.S., 2017. Social Innovation in the context of Strategic Knowledge Management Processes for Supply Chain Performance Enhancement.International Journal of Supply Chain Management,6(1), pp.233-237. Kamariotou, M. and Kitsios, F., 2017. Information Systems Phases and Firm Performance: A Conceptual Framework. InStrategic Innovative Marketing(pp. 553-560). Springer International Publishing. Kavanagh, M.J. and Johnson, R.D. eds., 2017.Human resource information systems: Basics, applications, and future directions. Sage Publications. Lapsley, I. and Rekers, J.V., 2017. The relevance of strategic management accounting to popular culture: The world of West End Musicals.Management Accounting Research,35, pp.47-55. Marabelli, M. and Galliers, R.D., 2017. A reflection on information systems strategizing: the role of power and everyday practices.Information Systems Journal,27(3), pp.347-366. Moran, B.B. and Morner, C.J., 2017.Library and information center management. ABC-CLIO. Nambisan, S., Lyytinen, K., Majchrzak, A. and Song, M., 2017. Digital innovation management: Reinventing innovation management research in a digital world.Mis Quarterly,41(1). Rahimi, R. and Kozak, M., 2017. Impact of customer relationship management on customer satisfaction: The case of a budget hotel chain.Journal of Travel Tourism Marketing,34(1), pp.40-51. Schulze, M. and Heidenreich, S., 2017. Linking energy-related strategic flexibility and energy efficiencyThe mediating role of management control systems choice.Journal of Cleaner Production,140, pp.1504-1513. Seidel, S., Bharati, P., Fridgen, G., Watson, R.T., Albizri, A., Boudreau, M.C., Butler, T., Kruse, L.C., Guzman, I., Karsten, H. and Lee, H., 2017. The Sustainability Imperative in Information Systems Research.CAIS,40, p.3. Serenko, A. and Bontis, N., 2017. Global ranking of knowledge management and intellectual capital academic journals: 2017 update.Journal of Knowledge Management,21(3). Sroufe, R. and Joseph, S. eds., 2017.Strategic sustainability: the state of the art in corporate environmental management systems. Routledge. Tarafdar, M. and Qrunfleh, S., 2017. Agile supply chain strategy and supply chain performance: complementary roles of supply chain practices and information systems capability for agility.International Journal of Production Research,55(4), pp.925-938. Tjemkes, B., Vos, P. and Burgers, K., 2017.Strategic alliance management. Routledge. Tucker, M.P., Tucker, M.P., Masuri, M.R.A., Masuri, M.R.A., Cotgrave, A. and Cotgrave, A., 2017. Critical strategic issues for the integration of facilities management into the development process.Property Management,35(4), pp.380-393. Wheelen, T.L. and Hunger, J.D., 2017.Strategic management and business policy. pearson. Wildavsky, A., 2018. Policy analysis is what information systems are not. InThe Art and Craft of Policy Analysis(pp. 7-23). Palgrave Macmillan, Cham. Wolf, C. and Floyd, S.W., 2017. Strategic planning research: Toward a theory-driven agenda.Journal of Management,43(6), pp.1754-1788. Wu, W.N., 2017. Citizen Relationship Management System Users Contact Channel Choices: Digital Approach or Call Approach?.Information,8(1), p.8. Yang, J., 2017. Antecedents and Consequences of Strategic Information Systems Planning (SISP) Success: A South Korean Perspective.