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In: Economics

Explain the concept of synergy. With reference to examples, explain the advantages of improved interoperability and...

Explain the concept of synergy. With reference to examples, explain the advantages of improved interoperability and network configuration.( 20 marks)

Solutions

Expert Solution

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.


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