Types of information systems used in an organisation, Management Information Sys

Assignment Help:

Reuters Group -Providing Information and Decision Support on the Internet If information is power, then Reuters Group is one of the chief sources of that power. It is also one of the oldest information sources. Founded almost 150 years ago, the company originally was a news agency, feeding stories and information to newspapers. About twenty years ago, Reuters saw a need to provide financial information to banks, brokerage companies, and wealthy individuals. Companies and people needed information to support their investment and banking decisions, and Reuters decided to fill the need. Today, the company provides decision support for a half million users at about 60,000 companies around the world. Providing information and decision support on a wholesale basis to other companies and individuals generates revenues of $5 billion annually for the company. The average user pays $1,500 per month to get access to the vast financial information contained in Reuters's databases. In addition to financial information, Reuters still operates a news service business for newspapers, magazines, broadcasters, and Internet portals.

Unfortunately, the Internet has become the main competition for Reuters. Although the information on Internet sites may not be as complete and the decision support may not be as comprehensive as Reuters's databases, many Internet sites are free to users. Internet users have been happy to get free information, but Reuters stockholders have not. The stock price for Reuters has languished at about $50 per share, while other stock prices have generally soared. Until recently, Reuters did not have a coherent strategy for the future or a solution to its sagging stock price. The confusion ended, however, with Peter Job, the new chief executive of Reuters.

Peter Job decided that Reuters had to get on the Internet bandwagon. He decided to invest more than $800 million over four years to develop a comprehensive Internet site to sell and distribute information directly to individuals in addition to its traditional corporate customers. "Why does the individual have to get a different deal than the institution?" asked Job. The initiative has made potential individual customers andstockholders happy. The stock price of Reuters recently reached $137 a share after the announcement. Although most stockholders are happy with their new wealth, some are concerned. The move to the Internet will mean that the company can't generate the hefty fees from its corporate clients.

Questions:

(a) Identify the six major types of information systems used in an organisation. Discuss each one with relevant examples.

(b) Discuss how beneficial is the information and decision support provided by Reuters to its clients? Your answer must make reference to the case study.


Related Discussions:- Types of information systems used in an organisation

Client-server concepts, Client-Server Concepts   It may be mentioned he...

Client-Server Concepts   It may be mentioned here that one of the most important rather significant concepts in Internet information provision is the idea of client/server arch

What do you meant by an information system, Question 1: i. What do you...

Question 1: i. What do you meant by an information system? ii. Distinguish between a computer, an information system and a computer program. iii. What is the differenc

Internet connections, Internet Connections   It is important to know th...

Internet Connections   It is important to know that there are different kinds of connection to the Internet which determine the way in which we will be able to work on it. In o

Stages in system development, Stages in System Development Information...

Stages in System Development Information professionals are mostly concerned with the first situation. In this context, the emphasis is on the systems requirements specificatio

Impacts of harnessing information systems in organisations, Question: (...

Question: (a) What are the positive impacts of harnessing Information Systems in organisations?. (b) What do you understand by an Enterprise System and explain how it di

AUB MEDICAL CENTER: ACHIEVING 2020 VISION (A), dear all, can i get the answ...

dear all, can i get the answers for the above case study Question one Conduct a comprehensive situational analysis for the AUBMCusing (SWOT analysis) Question Two EvaluateDr. Sa

How the harnessing of information systems impact, Question: (a) How th...

Question: (a) How the harnessing of Information Systems impact on organisations. (b) How can m-Commerce be useful in the provision of Government services to citizens. (c

Current lists - selection tools of information, Current Lists: Current...

Current Lists: Current books - those that are published during the year - represent the majority of materials usually acquired by most libraries, although it may not always be

Show the steps required to build a new information system, Question: a)...

Question: a) List four powerful worldwide changes that have altered the business environment and brought about the deployment of Information Systems in organisations? b) B

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd