to what extent does an understanding of the history and development of business help in our understanding of business today?

Introduction

To be able to cope with existing business challenges , understanding history and development of business is essential in assessing strategic requirements , trends and potentials of business . Business cycles can be defined by understanding historical information and strategic initiatives to enhance the business can be derived from studying development . According to Limpard (2001 , businesses have to understand themselves in the contexts of their industry , their market and society This can only be possible if mangers understand their history and development

For the purpose of this , operational development will be considered

as evidence to the importance of historical and development data in current business operations . The objective is to be able to present how history and development are key opponents of the said factors in delivering their respective management purposes

Systems and Operational Development

One of the biggest challenges for businesses today is being able to stay up to date with technology particularly in terms of information communication , management and logistics . These systems are essential not just in the operations of an organization but also play an important role in creating strategies and building competitive competencies Considering , that it is an objective of other institutions , developing one 's own systems assures keeping pace and increasing the relevance of one 's operations or position in the industry (Leaning , 2005 . The emphasis is in the development of systems that allow not only the use of data for the purpose of the organization but also to be able to utilize the same information in other fields of discipline particularly research

These information are also necessary in the development of language of the system will enable users to sue the information they need for their different functions (Leaning , 2005 . There should be recognition that terms or reference of the information may differ between department organizations or disciplines . The system should be able to recognize these elements and be able to reconcile differences that may arise . The level of aptitude of the users of the information and its various interfaces is another factor that has to be considered (Lindsay , 2006 It is essential that language and the interface be incorporated easily to existing otherwise , the learning curves for the new information system steepest and adaptation may be compromised (Sparx , 2000

The way information is used and becomes significant provides insight to the application of the information , the system and the usage of the system . An essential of information systems is the multitude of information that can be to data without the need for a more complicated structure or any significant change to the existing . In so doing , information is built from the system itself expanding the information from its origin (Lindsay , 2006

The creation of effective information systems depend on the careful consideration of internal and external factors particularly those that directly affect the strategic objectives that information systems address (NSERC , 2005 . Though there are undeniable advantages in technologically advanced systems , it should be kept in mind that technological advancement is not as indicative...