This type of management is called "Management Information System" or MIS. MIS and IT are improving the productivity and the work efficiency of a business.
Using technologies has been shown to improve the productivity and income of businesses. According to Alkadi, Alkadi and Totaro (2003), General Motors (GM) has increased productivity by using IT. They used to take 4 years to manufacture cars and trucks. However, now, using technology has reduced the time of production to 18 months. "For the first six months of 2002, revenues rose by 6% up to $ 94,5 billion (Alkadi, Alkadi, Totaro, 2003). Piper Aircraft is yet another example of a company that has benifited from IT. Ten years ago piper aircaft was making less than 50 planes per years and had $ 15 million in bank debt (Gordon, Tafadar, 2007). So, Chuck Suma, an IT company, took over and made a major transformation. In 2001, the company made $ 243 million and produced 441 planes. .
Chamanski, Waagø, said that one of the technology's chief contributions to the business world is communication (2001). First of all, the Internet is the most influential invention in communication. It allows everyone to share information and has revolutionized the way data is transferred. The Internet operates 24 hours a day, 7 days a week. Thanks to this advantage, businesses that sell products can create a virtual retail shop that never closes and can literally make money while they sleep (Gordon, Tafadar, 2007). Another major advantage that the Internet gives to any business is the ability to send and receive e-mails. E-mail is both a good timesaving and cost-saving technique to communicate with the customers and with business partners (Alkadi, Alkadi, Totaro, 2003). It reduces geographical and time zone barriers. Employees and managers from around the world can communicate regardless their location. Likewise, customers can send sales questions by e-mail.
