Question

In: Accounting

What does effective operation of the organisation’s information ensure? Discuss in 100–120 words.(Please type up your...

What does effective operation of the organisation’s information ensure? Discuss in 100–120 words.(Please type up your answer)

Solutions

Expert Solution

The information management system (IMS) is the providing information regarding the business problems and decision and employing the solutions or information to fill the gap of information to take decisions.

Information management enables good business through the proper and required information at the desired quality and at proper time. The good information management provides:

  1. The IMS facilitates the specific information of processes for creating and managing business and its needs.
  2. It assist the development and integration of various system and their affiliation with the out-sources.
  3. It eliminates all the risks and doubts of decision making and provide clues for business problems.
  4. The IMS support the management and employees in front of government and public sectors dealing through proper and in time information.
  5. The future risks are minimized through the help of IMS.
  6. It identifies the necessary attributes of information so that the organization is able to fulfil its obligations and accountabilities.
  7. The IMS assesses the desired risks and provides information for contribution in the securing the enterprise against them.

The IMS is a provision towards the proper and perfect risk management, so that business have a growth and profitable path.

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