The Role of Chief Information Officer (CIO)
The chief information officer (CIO) is the person in charge of an organization's computer systems or information systems. The CIO's responsibility is to make major contributions to the creation of the team's goals. They are in charge of overseeing everyday IT operations, innovating, balancing IT budgets, and motivating IT staff. These positions have changed over time (Baron, 2009, p. 509). The CIO's activity was mostly concerned with technical projects in the mid-1980s. However, as the storage, transmission, and analysis of the information became significant, CIO is now viewed as vital contributors to initiating a company's strategic goals.
The Importance of Information Systems in Business
The vital management mainly comprises of the Board, Executive, Non-Executive, the head of operations and the IT investors. The top-level managers invest in information systems to make positive impacts in their businesses. A successful IT implementation should lead to a generation of increased resources to the upcoming projects. Additionally, the adoption of the IT should result in increased productivity of the business as compared to prior operations without the use of IT (Dominici, 2017, p.311). The CIO should ensure that the information systems acquired adhere to the legal compliance to prevent the company from suits by either the stakeholders or suppliers. The management expects the IT system to be within the budget set so as not to strain the resources of the business. Credibility is also very vital because if it is lost, the CIO fails to support the company.
The Role of CIO in Business Strategy and IT Operations
CIO is a very influential executive of the business. This is because he/she provides a vital contribution to the business strategy that is used to explore new opportunities. The CIO has the role of providing the company with the best IT solutions which are necessary for its operations. Today, every business that wants to remain top-notch in the industry must adopt the use of information systems. It is also evident that the CIO keeps the information systems of the organization running smoothly (Thorbergsson, 2007, n.p). He/she must train the IT staff to ensure that they deliver according to the plans of the IT systems. The CIO helps to improve the IT value.
Advantages of Information Technology in Business
Information Technology has tremendously benefited its users in the recent years. The productivity of many firms using IT has increased doing the businesses to be successful. IT has also reduced the cost of operation as many of the processes are automated thus minimizing labor cost. The activities of the company have become faster and more efficient with computerization (Dominici, 2017, p.310). For instance, own software's can get used for budgeting, HR functions, cash management and forecasting. With the use of IT in business, many companies have achieved significant growth than before.
Drawbacks and Challenges of Information Systems
Although the Information Systems have been very successful in the overall operations of the firm, there have been weaknesses or drawbacks. This is the instances in which the IT has failed to achieve what customers, employees and the managers have expected it to make, one of the weakness is the security breach. Technology is prone to the violation of confidential information of stakeholders in the firm. E.g., data records. Problems of hacking and fraudulent manipulation of stored data are shared (Boritz, 2012, n.p). This practice breaches the confidentiality and integrity of the information systems making the beneficiaries to worry about their personal information. Loss or manipulation of data may translate to a significant financial loss. The problem of legal compliance is also another weakness. The statutory authority requires the users of IT systems to follow specific rules to ensure the safety of information and the work they deliver to the public. Many of the firms have neglected compliance to this regulations and thus doing the business to face lawsuits.
Mitigating Risks and Challenges
The CIO can eliminate the drawbacks that come up due to the firm using Information Systems. The technology is advancing and many of the IT users especially businesses find themselves exposed to a vast array of risks. AS explained above, cybercrime and activities like hacking affect the operations of the company (Gottschalk, 2012, p. 58). Fraudsters may do unauthorized access to a business data records, former employees of the organization or the competitors. The IT department has the role of ensuring that such malpractices get eliminated. Some of the measures are protecting the internal network from malicious attack, installation of software's that can detect unauthorized access, protecting the computers with passwords and educating the staff on best practices in dealing with Information Systems. The CIO has the responsibility to ensure compliance with the legal standards to maintain the safety of information and operation so the IT systems.
Challenges and Budget Considerations
During the implementation of this idea, the business faces a series of challenges and risks which make it difficult for the project to go through. Some of these problems are the high cost of implantation and the possible loss of profits especially in the initial stages of growth after adopting IT systems (Baron, 2009, p.509).To mitigate this obstacle the business ought to set aside enough budget allocation to cater for the implementation of the Information Systems in a firm. Automation of the business activities is expensive and requires intensive capital. To deal with the possible occurrence of losses, the CIO should ensure that prior training of staff is done so that there can be the smooth transition to the new operation's platform.
Bibliography
Baron, R.J., 2009. Strengths And Weaknesses Of Computer Recognition Systems. Handbook of Research on Face Processing, pp.507–511.
Boritz, J.E., Hayes, L. & Lim, J.-H., 2012. On IT Control Weaknesses in Financial Reporting Systems. SSRN Electronic Journal.
Dominici, G., 2017. Governing Business Systems. Theories and Challenges for Systems Thinking in Practice. Systems Research and Behavioral Science, 34(3), pp.310–312.
Gottschalk, P.,2012. CIO Leadership Roles. CIO and Corporate Strategic Management. pp. 56-65
Thorbergsson, H., Björgvinsson, T. & Valfells, Á., 2007. Economic benefits of free and open source software in electronic governance. Proceedings of the 1st international conference on Theory and practice of electronic governance - ICEGOV 07.
