Lahore School of Economics

Computing for Business and Economics III

Quiz 1

Name: Muhammad Mukarram-19U00621

Question 1: Describe the strategic business objectives in detail with examples. Also explain how IS can
help an organization in achieving these objectives. (15 marks)

Strategic business objectives are the main goals of a company to survive and thrive. These objectives help
the company to move in the right direction. Different companies adopt different strategies but some of
common strategies everyone have to follow includes:

1. Focus on the company’s operations efficiency: This objective includes all the methods and
possible ways in order to maximize the operational efficiency of the company. In this strategy
company may upgrade the technology they are using, they get rid of extra paper-work and also
make the extra time productive for the employees.
2. Expanding the products range: In this strategy, companies expand the products range by
introducing different new products one by one in order to generate some more money. This
strategy produces different means of making money and ensure the company’s growth because
the company get more customer attached to them. All over the world, companies keep
introducing different new products.
3. Company & Customer relationship: The relationship between the company and the customer
must be strong. Every company knows if the relation between the customer and company stays
strong, it built the trust between them and the customers become loyal to the company and then
they keep spending more on the company over the time.
4. Improving decision making: The company’s management is the most important objective. The
company’s management make the face of the company because it deals with all the internal and
external relations of the company. If the company make its management strong, them the decision
making skills of the company automatically gets better and that’s how the company’s decisions
procedes to the successes.
5. Keeping a competitive advantage: The company must keep the co petitive advantage from the
complete reange of its products and make the even money from all the products and services.
6. Survival of the fittest: The company must have backups for the survival of the fittest.
Question 2: Describe how information systems have changed the way businesses operate and their
products and services.

Information system of a company includes all of the communications systems f the company and storing
systems. If the company get upgraded information system in the company, then it surely increases the
efficiency of the company. For a company, it is very crucial that if the company produce, design and get
different aspects over the design through the data. Information systems have changed many things for
businesses both internally and externally, as for the business operations itself the information systems
helps connect the businesses data, objectives, management, telecommunications, production etc. this
change both the businesses processes and objectives as the business can now aim to grow on a larger
scale as compared to before. This brings about more cohesion in the business’s internal affairs. As for the
product and services the information system is able to collect, process, store and distribute information
such as consumer tastes and preferences, spending patterns, average annual wage and many other things
that can help the business better market its product and service where it is most desirable.

Question 3: How do systems that link the enterprise improve organizational performance?

These systems icreasing efficiency of existing processes, automating steps that were manual, enabling
entirely new processes that are capable of transforming the businesses, change flow of information,
replace sequential steps with parallel steps, eliminate delays in decision making. Enterprise applications
are designed to coordinate multiple functions and business processes. Enterprise systems integrate the key
internal business processes of a firm into a single software system to improve coordination and decision
making. Supply chain management systems help the firm manage its relationship with suppliers to
optimize the planning, sourcing, manufacturing, and delivery of products and services. Knowledge
management systems enable firms to optimize the creation, sharing, and distribution of knowledge.
Extranets make portions of private corporate intranets available to outsiders.
Question 4: What are the different aspects of the organization that are taken care og by the Information
System? Describe each briefly.

The information system takes care of many if not most of the organizations aspects, starting off with the
manufacturing and production od the product where it aids in getting raw materials, hiring production
workers and with the assembly of the product. The information system can also be used for management
purposes where it can be used to serve as the middle management where it can provide the firm with
important information such as resource planning and human resource management.