Running head: INFORMATION SYSTEM
Information System is a system used for the purpose of decision making and control.
The system comprises of hardware and software which works as the backbone of the
organisation. MIS gathers the data from various online systems, analyse the information and
report to assist in the management decision making. The purpose of the system is to provide
accurate and up to date data related to various organisational assets like inventory, marketing,
raw material, real estate, etc. (Bourgeois, n.d.) The three key elements are management and
use, strategies, and information systems. The five components are hardware, software people,
procedures and data. A perfect example of the five components is the typing of paper. The
keyboard and monitor are the hardware, word processing program is the software, the
information created on the word page is the data, procedures are the ways to start with the
program and save the paper, and the evaluator and creator are the people.
Porter's five forces model maximizes the understanding of the industry. The model is
simple yet powerful tool to know about the competitiveness of the business environment and
the strategy potential. The model is useful when an individual understand the forces in the
environment then an individual understand the forces in the environment that affect the
profitability and accordingly the strategy is adjusted. For instance, a businessman can take an
advantage of the strong reason or improves the weaker one and prevent taking the wrong
steps in the future. Michael Porter identified that the companies are likely to keep a close
observation on their competitors, he also encouraged to look beyond the actions of their
Rivals and analyse the other factors that can affect the business environment. For this, he
identified the five forces affecting the business and makes up the competitive e...