Information System Organization Assignment | Information System
Information System Organization Assignment is been transferred or communicated very much faster as compared to ever before. Information plays an important role in each and every aspect whether in professional or personal terms. The report would evaluate the needs of the information at different functional areas of Barclays. It would describe the types of information system which could be used in the organizations. Furthermore, the report would be investigating the trends in the information system recently used to solve the issues in the business. The report would also examine the suitability of different information system along with its application in various areas of Barclays. The report would then formulate valid and useful piece of information to depict the financial performances of the bank specifically. At the end, the report would highlight the available alternative methods to solve the performance issues which could be utilized by Barclays effectively.
Evaluation of the information needs of different functional areas of Barclays
Every organization acquires different functional areas which contribute in the achievement of a mutual goal of the business. As per the given scenario, Barclays is a financial services holding organization which serves with wide ranges of financial activities at different levels. It has been found that the organization works in different segments like investment banking, personal and corporate banking. There are various functional areas of Barclays at different levels of management. The basic purpose of these functional areas is to make sure that the business activities are been carried out and completed effectively. The major functional areas of Barclays are Human resources, marketing, finance, operation, etc.
It has been found that an information system is been considered as the strategic resource which helps in attaining competitive advantage over the others. The basic need of information system in the bank is to transform the core business activities from the conventional banking procedures to the advanced electronic processes. The newly developed procedures facilitates the Barclays in electronic record keeping, providing adequate data for processing funds, provide with financial information along with the monitoring services in the business. The information system is been considered as the most important tool in the present times as it support each and every level of management in an organization.
In addition to this, the Human resource function supports the organization to ensure the availability of personnel and manage the accomplishment of the required tasks in the bank. It has been found that this functional area help Barclays acquire adequate number of skilled and qualified manpower and accomplish the business operations effectively. The marketing area is fascinated with the identification of the prospective clients and leads towards the effective deals out if it. Additionally, financial area helps Barclays to collect the data and manage the financial activities being carried out in the bank. The operational functional area manages the services being provided to the clients along with the activities conducted to achieve the desired objectives specifically. Moreover, information systems had played a significant role in enhancing these areas and facilitate the organization in establishing better performances. The basic information needs of different functional areas of Barclays are as follows:
The information system in this area helps in ensuring the data and records about the staff members. This area basically requires the information regarding the requirement of human resources along with their management. It includes the data related to the staff performances, pay scales, rewards, performances appraisals, etc. It has been found that this information is required to be stored properly so that Barclays could make better use in future. It has been observed that this particular area is largely concerned with the staff members or human resources being functional in Barclays. It carries out effective planning, organizing and management of the people to be employed in the business and make them work accordingly.
Financial functions: The functional areas of Barclays help in managing the financial records and allocation of funds or resources. In addition to this, there is a need to establish an information system which would help in carrying out the financial audits, track the financial activities, developing accurate and effective financial reports, etc. This area needs the information regarding financial decisions which helps in approaching the clients like, share prices, dividends, interest rates, etc. which allows the business acquire actual growth.
This division is mainly responsible for planning, controlling and organizing the resources which are being required to conduct an activity within the organization and achieve the desired goals. With respect to Barclays, it has been seen that this functional area mainly requires having effective planning and coordination with the other departments so that to record the information and formulate the final financial decisions out of it.
Marketing functions: Marketing function is been considered as the most important functional area which supports Barclays in expanding its business and acquire greater market area. It requires the information related to the market and its financial trends so that to approach the clients accordingly. It has been found that the information regarding the trends, preferences, customer perceptions or views helps the team to develop the suitable financial products and deliver the same to the prospective customer segment. The marketing department includes a team which needs the information regarding the needs and wants of the clients through which Barclays could approach them and convert the lead out of it. Barclays would be able to attain desired growth and develop profitable plans out of it. Information plays an important role in the organization and is been also considered as the basis of all the functionalities to be carried out in the business and achieve the desired objectives effectively.
In addition to this, every level of management includes different activities and acquires different information to be used by Barclays and attain higher profits. For instance, the information of market trends would facilitate the top level management in formulating suitable products and strategies for the clients and acquire higher profitability out of it. The top level management would be able to collect the relevant figures from the market and use the information to create effective financial strategies for the bank. It has been also identified that every individual business function of Barclays requires information to carry out the business in an effective manner.
The marketing function requires having updated information about the financial market and its activities like fluctuation in shares, bonds, debentures, etc. It is also important that the department is well aware about the changes in the fiscal or monetary policies so that to set the financial records or statements accordingly. With the help of adequate information, Barclays would be able to access the wider scopes of financial services along with the other departments and develop an effective framework out of the same. In addition to this, the functional areas of Barclays need to have relevant information which could be used in the business and make fruitful profits out of it. It has been seen that Barclays carries wide range of functionalities and covers huge market in the financial sector. It is been listed among the leading financial services holdings and operates large financial transactions. Therefore, it is seen that with the help of these information.
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