Executive information systems Essay Example

of capital. Typically, the money left over to service equity and debt, known as profit, is not actually profit. Financial ratios beyond ROI and EVA can be utilized to assess a company's operations. This process is not solely data gathering, but an essential component of strategic policy development and implementation to enhance industry performance.

It is crucial to develop and test a set of KPIs to measure performance and set future plans, as they are a fundamental factor for software implementation. Adopting benchmarking as a management tool is key for businesses aiming to become market leaders. Research has demonstrated that performance measurement and benchmarking are vital to push any industry towards becoming world-class. This study has made a valuable contribution to knowledge by creating and testing a KPI framework specifically for the company. The assessment determined that the framework for Phillips DC should include the following features: 1.

The EIS application interfaces are organized by "Project Type", are provided for free, and updated yearly. However, having a set of KPIs is not a guarantee for improving performance. CSFs and KPIs are a crucial guiding principle for the EIS application interfaces, but they must be expanded in two important ways to meet the requirements of business executives.

Currently, EIS application interfaces assume knowledge of computer functionality, hindering their use by many business executives. To overcome this, interfaces should use terminology, concepts, and images already familiar to users. This requires manual design, but knowledge-based design tools may automate this process in the future.

The main issue is that users are required to use a keyboard, which may displease some executives due to personal or professional reasons. Many executives are not comfortable

with using a keyboard or even a basic mouse for selecting menus, as they lack hand-eye coordination skills. However, we have discovered that a touchpad remote control, similar to those used for home TVs and with application-specific button labels instead of generic letters and symbols found on keyboards, is the most desirable alternative. These labels, such as "Print" and "Help," eliminate the need for users to remember general keyboard symbols like "F1" when accessing EIS functions. Additionally, the remote control is used to navigate menu choices and select operations, just like a mouse.

While the mouse remains an essential input device, the remote control offers the advantage of easy storage and the ability to operate from a distance. This is particularly useful if the computer screen is housed in a console instead of on the user's desk (M. Klein and L. Methlie, 2000, page 51). Throughout the 1990s, EIS interfaces are expected to incorporate multimedia technology to present information in various formats, including text, graphs, video, and voice.

It is likely that technology will be used to capture various information media, but it is unlikely that it will directly affect the human/computer interface. While the idea of a computer like HAL from the film 2001 accepting voice and body language as input is appealing, it is improbable that these imprecise methods will be utilized in the 21st century EIS. To fully tap into the potential of EIS applications, two essential changes must occur. Firstly, they must serve as the primary communication channel between all levels of management and executives in both operational and strategic information. Secondly, they must become integral to the management process by

utilizing strategic vision and business expertise to every decision-making level.

The transformation of EIS from an individual executive tool to a company-wide intelligence system will necessitate modifications in business practices and structures, which are already being urged by industry experts. The progress of Expert EIS hinges on the capability of companies and software manufacturers to incorporate the necessary new technologies, such as systems integration standards development, knowledge-based analysis tools integration, and more intuitive user interfaces. We are confident that companies and vendors will succeed in this evolution because we believe it is crucial to thrive in the intricate and rapidly changing business world of the 21st century.
Work Cited• Damodaran, A.

The source of the information is a book titled "The Dark Side of Valuation" by Prentice Hall, published in 2001 on page 5. The book explores the negative aspects of valuation. Additionally, the book is part of a compilation on decision support and executive information systems, edited by P.The information sources listed are "Gray", a book by Prentice Hall from Englewood Cliffs, NJ in 2001 on page 76, and "Executive information systems", by Dobrzeniecki in 1998. Both are contained within HTML paragraph tags.

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