In: Economics
Explain the concept of synergy. With reference to examples, explain the advantages of improved interoperability and network configuration.( 20 marks)
Synergy is the concept that explains the benefits get from the
combination of value and performance of two companies will be
greater than the sum of individual parts. The team work will
produce better condition than the individual performance within the
group. In group production, the number of members increased will
improve the efficiency, common goals and interest of each
individual also. But this group decision making will leads to high
level of risk due to different opinions among the members.
Interoperability will connect more than one people through
computerized system. This interoperability will protect the data of
people. This is mainly used in the healthcare sector. This common
information collection will help the researchers to get information
easily. This computer system will connect the other systems also
will enhance the credibility. This system will improve staff
efficiency. The use of digital documents will save time in case of
finding data and updating records. The advanced configuration will
improve the quality and reduction of risk in the sector. The data
were safely under this unifies configuration. The researcher can
easily avail the resources which needed for the study without
taking two much time. The efficient configuration management can be
ensured through this.