 Hello, everyone, today we are going to discuss on the topic information systems in global business today. In the learning outcome, let us discuss at the end of this session, students will be able to describe how information systems are transforming business. Here, information systems are the systems where the information are stored for the business purpose. So, these information are related to the management information or business information or any other kind of information. So, information systems are very important nowadays in the business today. Nowadays, information systems are in the form of wireless technologies or in the form of media and advertising or they adopt some security and accounting laws for maintaining the information in their database. So, the increase in wireless technology use is as much as better important for the information system in the today's business. When we talk about media and advertising, then there are shifts which are considerable for maintaining the information systems in the business. For maintaining the security and for maintaining the laws, we maintain a different kind of security where the information get stored securely for the business purpose and other information systems are applied for the laws which are very important for accessing purpose for the business people. When we think about globalization opportunities, we always have the infrastructure as the internet which has drastically reduced cost of operating on the global scale. When we think about the global business, so we always think the internet which has a drastically reducing cost of operating all the businesses in the business environment which contains both challenges and opportunities. Business people have to kept challenges and opportunities which very important for the businesses, today's businesses. Role of information systems in business today. Again in the business, there are some relationships which we are going to maintain digitally between sellers, between producers, between buyers and between all the different companies which are digitally enabled and mediated because all the companies, all the businesses have to be digitally enabled and mediated because they want to improve their business nowadays. And in fact, core businesses are really accomplished through digital networks. Those businesses are really run on the digital networks which are very superior, which are very fast and which gives a tremendous output for the business purpose. So for very key corporate assets are managed digitally. Nowadays all the things, all the corporate businesses are managed digitally which contains the role of information which is required nowadays in the business. For maintaining management information systems, we have to follow six strategic business objectives. First one is operational excellence. When we think about operational part of the business, so it should be your operational excellence, then when we think about new products, services and business models. Customer and supplier intimacy. Intimacy here stands for, there is an understanding between customer and supplier. Then improved decision making, which is very, very important for the business and competitive advantage. There are some challenging advantages which are involved in the competitive business environment. And the sixth one is survival, where the businesses are taken apart of survival. So first we see the operational excellence. When we think about operational excellence in the business part, the your business should always contains improvement of efficiency to attain higher profitability. Because every businessman should think of improving of their efficiencies in running the business, because they want to gain a higher profitability. Next the business, we have to keep the informal systems, technology, which are very important tool to achieve a greater efficiency and productivity. We see the example of this is Walmart. Walmart itself retail link system, they links thousands of supplier to store for their business, which comes in the superior manner and they perform a replacement system also, because they were using information systems and technologies, these important tool to achieve a greater efficiency and productivity. In the new products, services and business model, every business purpose thinks about a new product in the market, how the product services and how the product models for the businesses. So when we think about business models, business model describes how company produces the product, how company delivers the product and how company sells the product or services to create the wealth of the business. Because this is very important for a new business point of view. When we think about information system technology, a company or businesses have to enable the information system and technology tool for their new products, for their new services and for their business models. Here we take the examples of Apple's iPod, very important examples, because Apple's iPod, they also maintain a very large information technology, because their major role is to attain a higher efficiency and produce a good product and give the good services to the customer. Similarly, we think about iTunes and as well as iPhone. They have also a great opportunities to enable the information system and technology and as well as they produce a good services to their customers. In the Netflix internet based DVD, DVD renters also, they have their own business models, they run the business model very efficiently and they achieve a great goal in their businesses. These are the main examples of the new product services and business models. So when we say about the business, so always there are two entities comes into the picture. One is customer and another is supplier. So we want to maintain a good relationship between customer and supplier. We want to increase the efficiency in our business and we want to increase the revenue also in our business and we want to increase profits also in the business. So in the customer and supplier team, I see so intimacy stands for relationship. We have to maintain a good customer and supplier relationship because it will lead to customers returning, which raises revenues and as well as profits. So intimacy with suppliers allows them to provide vital inputs, which lowers the cost because always business main focus on lowest cost. So there is a question which comes under time to reflect, think on this question for a while and give the answer. The question is, may a business that they believe to exhibit a high level of operational excellence? The answer is Walmart. Just we have seen the example of the Walmart. Walmart is the big business, big deal, which always have a good profit and we always believes their high level of operational excellence through the customers, through the business and through the suppliers. They have a good relationship also with the customer and supplier. So that's why this is one of the well known business, which believe to exhibit a high level of operational excellence. There is one more question. What type of companies might rely more on customer and supplier intimacy? Answer is Netflix and Amazon. Amazon is one of the very good example or one of the good companies, which more rely on their customer and supplier intimacy because Amazon have a good relationship with the customer and their suppliers as well as Netflix. Also, they have a very good relationship with the customer and supplier. They found a very good deal with the business through the supplier as well. So that's why these two examples are very important, which rely on more customer and their supplier relationships. Improve decision making. Now in the business purpose, when we think about the business decision making, then we should more focus on how the business making are improved. This is the role and responsibility of the business people, how they are going to make the decisions in well manner. So decisions should be made on without accurate information and with accurate information also. When we think about with accurate information, decisions are always improved based on the statistical analysis of the supplier as well as on the of the business. So without accurate information, managers must use the forecast and managers must guess on the forecast, which are totally based on the analysis. And it is a matter of luck for the predictions of the decisions or taking the decisions without accurate information. If you take with accurate information, which leads to our production, under production of the goods and services, misallocation of the resources, poor response times also are considerable factor under the improved decision making. So when we think about the poor outcomes, so it raises the cost, which is a total disadvantage about the customers and there are chances of losing the customers while making the relationship on their businesses. So taking the improved decisions are very important a part of the business purpose. References. Thank you.