Information system theory describes about the theoretical knowledge of computer sciences. It is system that process the knowledge related to a particular study. The information system theories effectively contribute in creating, building, compiling, organizing and transferring data into the information to make better results from the research. There are several IT theories that can be used to get good outcomes such as agency theory, game theory, organizational information processing theory and knowledge-based theory of the firm (Lerner, 2004). The data, information and knowledge are quite similar words that are used in the firm. All these words have different meaning due to their use in the IT theories (Nickerson & Zenger, 2004). Data refers to the records that are used to refer the statistical observation and collection of components. Thus, data is the collection of evidence that is used to record for the purpose of firm. On the other hand, information is the process that is used in different forms. Generally, information is considered as the meaningful data that are appropriately converted and managed by the organizational managers with the use of conversion process. It is perceived as potentially signifying something and a process of informing that is used to develop sustainable resources. At the same time, knowledge describes about what someone knows, what they believe etc. Knowledge is the relationship between data and its elements that are collected from the information. Thus, knowledge is proper collection of information that is useful for the organizational purpose to attain competitive advantage and superior performance. In a real world situation, it can be described that when anyone memorizes any information, then it combines the knowledge (Liew, 2007). Knowledge also has useful meaning for the information that is settled in the mind of a human. In computer phrasing, all the application contains stored knowledge that is exercised by applicants. From the list of IT theories, knowledge-based theory of the firm is selected as an IT theory. This theory contains the most important strategic resource of the firm that is information. Information is the processed data that is converted into the data to use in a firm. The supporter of this theory argued that it is a quite difficult and socially complex theory to sustain competitive advantages and superior corporate performance from the market (Leonard & Swap, 2005). This theory is based on the heterogeneous knowledge and information of the firm. In this theory, the firm to take strategic actions effectively uses knowledge. Information is gathered by the organization from the organizational people. The data is quite applicable in the knowledge-based theory of firm, because data is the important part of the organizational processes. These data are used by the organization to make identity, policies, routines, documents, systems for the organization and its employees. The data is recorded and reported by the organizational people (Leonard & Swap, 2005). The subordinates provide this data to its superior that is maintained by the top managers. For example, all the firms use the financial and accounting data to take further data. Strategic management is another way that develops and expands the resource-based view of the firm (Levinson, 2007). Thus, it requires the data as well as information to improve the knowledge based on the resources. All three terms are different from each other due to use in the knowledge based management theory. It is because knowledge can be memorized, but data cannot be memorized since it is not properly managed by anyone. The knowledge provides the effective results by applying knowledge-based theory of firm. At the same time, organization uses the information by converting organizational data into information form (Liew, 2007)....
To: George Bluth
Subject: Reporting Financial Statement Under IFRS
Due to the forecasted high demand in the future, Gobias Industires, Inc. plans to report the company’s financial statements as soon as the next year. However, the argument is whether the company should report its financial statements consistent with the US Generally Accepted Accounting Principles (US GAAP) or the International Financial Reporting Standards (IFRS), when IFRS may be the reporting standard for US companies in the near future. I suggest Gobias Industries start reporting financial statements under both US GAPP and IFRS because the company is a U.S. based potential global firm.
What Are GAAP and IFRS
GAAP is rule-based accounting principles that composed with more than 2,000 documents. According to American Instituted of Certified Public Accountants (AICPA), all members must prepare financial statements under GAAP (Kieso Et al., Chap. 4, ETB). In other word, all public traded American companies must report their financial statements accordance with GAAP.
On the other hand, IFRS is principle-based accounting standards, which is used by more than 120 nations (AICPA, 2013). Reporting under IFRS is similar from reports under GAAP except the recording of consolidation, extraordinary items on statement of income, inventory, earning-per-share and development costs (Forgeas, 2008).
Advantage of Implementing Both GAAP And IFRS
GAAP Can Be...
Marlon C Collins
ITM301 – Principles of Information
Module 5 – Case Assignment
Dr. Shuk Wong
The three most important things a company can do to implement and use groupware systems effectively, and why they are necessary.
This Case Assignment requirement, list the three most important things a company can do to implement and use
groupware systems effectively and why they are necessary. But before I answer the questions and must let my
reader know what groupware systems is; Groupware systems are computer-based systems that support two or
more users engaged in a common task, and that provide an interface to a shared environment. These systems
frequently require fine-granularity sharing of data and fast response times. Groupware can be divided into three
categories; electronic communication tools, electronic conferencing tools and collaborative management tools.
Groupware in general in strongly related to the research domain of Computer Support Cooperative Work. For
companies to implement and use groupware systems effectively, the three most important things a company
can implement is; the type of system and availability of system to users, data sharing and communications, and
1. First management must implement a groupware system that is tailor specify to that organization. Select a
system that each employees can access, can share documents, information,...
Part 1 Exam
1.) Anticipatory and response-based business models are the two ways used by firms to fulfill customer requirements. The fundamental difference in the two models is timing. Anticipatory model has been the traditional business practice, which was mainly forecast driven. Since information about purchasing behavior was not available, and the channel partners were collaborating loosely, businesses were driven by forecasts. The forecasts used by the manufacturers, wholesales, distributors, and retailers were often different that led to a lot of excess inventory. All the work was performed in anticipation of future projections, so the likelihood of misgauging customer requirements was high. Each firm in the chain duplicated the anticipatory process. Response-based model aims to reduce or eliminate forecast reliance by joint planning and rapid exchange of information between supply chain partners. This model has been made possible because managers can now obtain and share sales information faster. Customers can be provided with their desired items faster. This requires fewer steps and therefore less cost to complete a fulfillment process compared to the anticipatory model. Response-based model is similar to a build to order model but the former has a faster response time and allows a higher degree of customization. Responsiveness propelled by information technology development has become the...
TASK B, Case Study;
You are a social care worker and a service user, Hannah, tells you that she is
unhappy taking her new medication. She thinks she does not need it and so she is
throwing it away. You know from her care plan that Hannah does need to take the
medication regularly and gets confused. Hannah begs you to keep this confidential
and not tell anyone especially her daughter, who she sees regularly, as her
daughter will be very angry.
Bi) How would you explain the term “confidentiality” to Hannah?
It is Hannah's right to make decisions for herself and to choose whether to take her
medication or not. From the information given it seems Hannah's decision not to take
her medication could be detrimental to her health, Because of this Hannah maybe at
risk of harm, and therefore I will need to pass on the information to my manager
to ensure Hannah's well being. It is however Hannah's choice who she chooses to
share her personal information with, I would ensure Hannah understands that I would
not disclose anything she had told me to her daughter, as she had wished me not too. I
would then go on to explain to Hannah, that although her daughter did not need to
know of her decision not to take her medication, I would need to share the information
with my manager, this would enable my manager to make sure that her decision not
to take her medication was the best thing to do, and if not, what...
...ITM 309 Team Project Fall 2014 Points 205 Due On the day of your Recitation 12 November 12, 2014 or November 13, 2014 Submit Team Report and Team PowerPoint Presentation (D2L dropbox) at 800 a.m. on the day of your Recitation. (A) Team Project Description Scenario You recently inherited your grandfathers coffee shop, which is conveniently located in downtown East Lansing. The cafe offers many different kinds of coffee and tea, a full service bakery, and sandwiches, soups, and salads. Your grandfather first opened the coffee shop in 1952 and it was a local hotspot for many years. Although your grandfathers coffee shop was a local hotspot for many years, business has been steadily declining over the last five years. Although your grandfather was an expert at running the coffee shop, it is outdated. There are no computers in the store and all ordering takes place manually. Your grandfather had a terrific memory and knew all of his customers by name, but unfortunately, none of this information is located anywhere in the store. The family recipes for the baked goods and soups are also stored in your grandfathers memory. Inventory is tracked in a note pad, along with employee payroll, and marketing coupons. The Cafe does not have a Web site, uses very little marketing except word-of-mouth, and essentially still operates the same as it did in 1952. You will own and operate your grandfathers coffee shop, taking advantage of business practices discussed in our...
Trident University International
Model 1 CaseITM 501
Dr. Kenneth Phillips
April 22, 2013
In this paper I am to state my opinion as to whether organizations are likely to find better solutions to information overload through changes to their technical systems or their social systems. With the research I conducted and along with my experiences in the workplace, I have concluded that information overload can be improved through changes to technical and social systems. I will also present evidence that will go against my position on information overload. I am also tasked to rebut the position of the counterargument, showing how inadequate the counterargument is, against my original position.
It is difficult enough for an organization to continue to be successful and prepare for future challenges in today’s world. Decisions that were made in the past, sometimes is not what we want to base our decision on here in the future. It takes time, money and a lot of effort to come up with changes to our technical and social systems. Organizations could fail if the workers are not able to adapt and meet the challenges of information overload. In order to ease the pain of information overload, one has to recognize the warning signs and then admit that there is a problem and then come up with a solution.
Information overload is something that has been around for hundreds of years and in no time soon will we see it go...
...Module 5 Case: “Jacob Nielsen should be empowered to set mandatory usability standards for internet”
Computer-Human Interaction, Groupware, and Usability
Dr. Kathleen Hargiss
March 30, 2007
The problem presented in today's Internet is how to maintain the audiences' attention long enough for them to receive our message. According to Jakob Nielsen, we will solve this problem by writing concise text, write skimmable text, write objectives and clear text, and write with design in mind. I will now prove his theory to be true. After researching several websites over the holidays, I have found one that I believe was built on these principles. The target audience and the complexity of the information, that this site provides, they prove that even when passing complex information on the web you can reach the masses and be effective through this medium.
The web site I have selected is Entrepreneur. Com. I have been through this entire site and have found it most interesting. It encompasses a large variety of business opportunities and information on how to run your own business. Business people as a whole are involved with and run their lives in time management, efficiency, and they do not like to waste time. Therefore, the question is how to build a web site that appeal to these people.
The writing on this site is very clear and to the point. This follows the guidelines set out by Jakob Nielsen. Writing...
Task B Case study
Bi How would you explain the term 'confidentiality' to Hannah?
Confidentiality is keeping personal information private. The information is kept between two people and not telling anyone else for example family, friends or work colleagues.
Bii Describe the possible tensions that may arise between telling others of Hannah's decision and keeping this information totally confidential.
Hannah’s daughter could get very upset or worried about her not taking her medication as she could fear her mother’s health may deteriorate. She could also get angry at her mother because she doesn’t agree with what Hannah is doing and she is not helping herself to feel better, which could cause problems with their relationship e.g. Hannah might ring the doctor and take control of the situation leaving Hannah to feel less in control of her decisions.
Hannah may get upset/angry with her social worker for telling people because she was desperate it to keep confidential. This could cause trust problems with her social worker meaning her social worker isn’t able to help Hannah to her best ability.
Biii Describe ways to maintain confidentiality in day to day communication.
Keeping personal files locked away so only certain people can read them.
Service providers must keep information confidential unless they have permission from the service user themselves.
Make sure any personal information is not shared with close friends or family.