Business Information System

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Business Information System



Business Information System

Introduction

The car dealership business faces very high pressures from the complex environmental elements which are a result of the change in the technological, political, legal and economic elements of the environment. The markets in which the car dealership businesses operate also pose threats to the operations of the business. The risks related to the change in the environmental elements are managed by the Corporate Governance, Risk and Compliance (GRC) management concept. The GRC management tool is used to control the operations of the business in dynamic business environments particularly in the car dealership business. The implementation of GRC in the car dealership business will enable the business organization to manage the risks and requirement related to compliance to the environmental policies, practices and partners. The implementation of GRC in car dealership businesses also enables the management to implement controls related to the operations and the information technology of the industry.

The implementation of the GRC management in the car dealership business would require the management to enhance the information sharing in the business to enhance the organization efficiency and the strategic performance of the business (MetricStream, 2013).

Discussion

The implementation of the corporate governance, risk and compliance theory requires the effective implementation of the four elements of Governance, Risk management, Compliance management and Audit management.

Governance

The element of governance focuses on the implementation of the codes of conducting business and the employee behavior to make sure the business activities comply by the codes of conduct. The framework of governance will require the car dealership business to adopt organizational wide measures such as the policies of security and risk assessment. The implementation of these policies also is supported by the IT systems of the business. The element of governance is focused at creating the structure for the car dealership business, which is perfectly aligned with the strategy of the business and adds value to the business processes.

Risk Management

The car dealership businesses in particular and the other businesses too in general are exposed to risks related to the market or the industry in which they operate. The risks arise due to the uncertain environment to which the business is exposed. The automobile industry in particular is subject to too much risks of uncertainty which can only be mitigated by developing the appropriate strategies for the business. The risks in the car dealerships business can be mitigated by the identification ...
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