IT Oversight Case Study Example | Topics and Well Written Essays - 1000 words

IT Oversight - Case Study Example Consequently, these issues have created greater demand for the organizations to adopt effective IT governance and address the issue of oversight in order to effectively deal with the emerging issues. Presently, companies are identified to face problems in the area of IT governance and oversight framework with respect to proper management and maintenance of existing IT infrastructure. Additionally, companies fail to understand the importance of IT in formulating organizational strategies. Due to increased complication associated with management of IT infrastructure, companies are witnessed to be challenged with ensuring reliability, security and quality of the existing IT system which are deemed to be important for carrying out the day- to-day operations of a company. Companies lacking knowledge about IT infrastructure are unaware regarding software, information and hardware that are owned and implemented, which in return is affecting the companies from leveraging the best outcome from their IT investment. The failure of companies to review reliability and security measures has led to service disruption. There is also the issue of inappropriate project management system owing to which companies are identified to face problems in tracking inventory, orders and revenues. A number of organizations are also identified to face IT-related issue in relation to the implementation of legacy system. Inappropriateness of legacy system adversely affects accounting department of companies in updating as well as accounting financial information and other relevant data due to which data might become out-of-date. Companies are also under the threat of legal problem of intellectual property which in turn is causing a rise in distraction costs and affecting business inefficiency (Nolan & McFarlan, 2005). Companies are required to develop a matrix based on which the management might be able to determine the position of the

Affects of Supply and Demand on Business Term Paper

Affects of Supply and Demand on Business - Term Paper Example d making the management to take the necessary course of action.Analysis of the market forces helps departmental decision making in that each and every section of the business optimizes resource allocation to minimize costs and maximize productivity in a bid to meet the demand in the market.Table of Contents Introduction Basic Laws and Principles of Demand and Supply Demand Side Supply Side Equilibrium Discussion Conclusion Works Cited Introduction Demand can be viewed as the quantity of goods and services that the market, consumers,is willing to purchase and consume within a given period of time and at a certain price. Demand varies from time to time due to rationality of the consumers; changes of preference and tastes,changes of their economic levels and statuses,and other market conditions such as changes of cost of production that influence price fluctuations.Supply on the other hand refers to the resource and or the quantity availed to the market by the producers within a given p eriod of time dictated by the prevailing market conditions. ... d services; a factor of manufacturing costs, competition, market conditions and the quality of the product, and the buyers determine the quantity of the product/ service they are willing to purchase and consume at the price level presented by the suppliers/ producers (Brennan and Rowan 6-9; Nasrin 1-20). In monopolistic markets forces of demand and supply may not influence the price of the product/ service and vice versa thus in this paper we shall evaluate and analyze the effects of supply and demand on a business in a competitive market (Reuvid 2-6). Basic Laws and Principles of Demand and Supply To understand how demand and supply impacts on a business, we need to evaluate their market mechanisms in relation to price so as to understand how they influence actions of the business at given times within the production cycles, which can be analyzed by understanding the their interaction aspects. Whenever the demand increases but the supply remains the same or unchanged, there is short age of goods and services in the market leading to a higher equilibrium price. Whenever demand decreases and the supply remain unchanged, there is surplus supply of goods and services which lead to lower equilibrium price. Whenever supply increases and demand remain unchanged, there is a surplus leading to a lower equilibrium price Whenever supply decreases and the demand is unchanged, there is a shortage of supply leading to a higher in equilibrium price Demand Side To understand how the demand of goods impact on a business venture we shall evaluate the demand schedule and relate it to the immediate decisions that the management make and the course of adjustments. As discussed earlier the demand of a given commodity will vary with time depending on factors such as price; changes of income,