SAILING THROUGH BUSINESS INFORMATION

Radu Adrian Ciora and Carmen Mihaela Simion
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Radu Adrian Ciora: Lucian Blaga University of Sibiu
Carmen Mihaela Simion: Lucian Blaga University of Sibiu

Revista Economica, 2017, vol. 69, issue 6, 26-30

Abstract: Business information is a key aspect in any business. The evolution and transformations through which business information undergoes in time are impressive. These changes start from information sources, continue with inside information and end with customer information. Although we have specified distinct groups of information, these three groups are not independent, but rather tightly coupled. In an interconnected world, information is vital. The movement from product to product as a service, or product with services, has made a significant change in the way companies handle their relationships with customers as well as with employees. Information technology use in a global economy reduces the barrier of space between businesses, thus allowing better interactions among partner businesses even when they are in different geographical areas. Thus, loads of information can instantly be sent to a server, which is in cloud nowadays, where this information can be analysed in almost real-time and decisions can be made on the fly, permitting businesses to adapt to the shifts of the market. In this paper, based on the developments in the field of business information, we present a general-purpose flexible business information model, which can be useful for business owners and top-level management for information management in order to develop a more context-aware business plan.

Keywords: business information; information sources; business plan (search for similar items in EconPapers)
JEL-codes: M21 M31 (search for similar items in EconPapers)
Date: 2017
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