Accounting information system is the proper amalgamation of various records, methods and people for the sole purpose of utilizing them to gather the various financial data about each and every business event (Galliers and Leidner 2014). This processing or recording of data or information is eventually done to make the transaction complete and successful. The communication of information is extremely vital for any decision maker as well as end user. The process of decision making is extremely easier with this accounting information system. The proper collecting, recording and also organization of financial transactions of any specific company is eventually done by AIS or accounting information system (Willcocks 2013). The major objective of this accounting information system is that there is a proper record or collection of any financial datum for making them important financial information. There are various elements or components of the AIS or accounting information system. These components are sub divided in five categories (Laudon and Laudon 2016). These categories are information storage, source documents, information processors, input devices and output devices. Several organizations use this information system.
The following literature review outlines a brief discussion on the popular provider of various quality wooden boxes and packaging within Australia, namely, StarBox. The strategic information system or SIS is implemented within this organization and thus the organization has become successful with its unique strategies. Furthermore, they have incorporated a system acquisition method to attain all the organizational goals and objectives. The second part of this literature review is the proper selection of accounting software package, probable competitors, and market size and market leaders.
One of the most promising organizations that is leading the market of wooden boxes as well as packaging in Australia is StarBox Limited. The organization was started in 1940s and had been leading the market for all these years (Starbox.co.nz. 2018). Recently, this particular organization is the most popular manufacturing organization of the wine boxes, cable reels, pallets, wooden presentations, cases and many more in New Zealand and Australia. The other products that they are manufacturing are boxes and crates for shipping or display.
Previously, this organization only used to manufacture crates or boxes for military and soft drinks companies. Now, StarBox Limited is also manufacturing presentation boxes and bed frames. Significantly, six major product types are being manufactured in this organization (Starbox.co.nz. 2018). These are display stands, cable reels, wine box, cases, pallets and gift box. Best raw materials are being utilized by this organization for the purpose of making the products perfectly. StarBox Limited is considered as the best organization for gift box and presentation box and no other organization has the ability to acquire the market.
Organizational structure of any organization provides a clear view of each and every management level and the most important shareholders and stakeholders of the organization (Al-Hiyari, AL-Mashre and Mat 2013). The organizational structure of StarBox Limited is given below:
The above figure shows the organizational structure of StarBox Limited. Various significant management levels and organizational bodies of the organization are shown here. The top management level starts with shareholders as well as board of directors. The various departments of the organization mainly include production, marketing, financial, human resources and technical (Altameem, Aldrees and Alsaeed 2014). All these departments have further sub departments and several staffs are working within these departments.
StarBox Limited is the best organization for providing wooden boxes as well as packaging within New Zealand and Australia (Uçaktürk and Villard 2013). In spite of having various advantages and extra ordinary features, some of the most significant operational problems are present within the organization. These operational problems are eventually responsible for bringing the organization in a degrading place. One of the significant problems of this organization is that as the product quality of this organization is very high, the price of the products is also very high and thus the products are unaffordable by everyone. This is driving away the customers and they are not buying any more products from the organization and rather they are looking for other companies, which can provide them with cheaper items, however with same quality. The second important operational problem is risk management of the organization (Lee et al. 2015). They are unable to control or mitigate their risks and thus, the market shares are going down drastically. As, the clients are dissatisfied with the high price; the total revenue and annual dividend are going down. The major reason of this share degradation is various wrong strategies, which they have undertaken for their business. Hence, all these wrong strategies should be changed (Pearlson, Saunders and Galletta 2016). Moreover, the technology must be changed and the systems should be upgraded periodically. This would help in maintaining a balance with the new market trends and also maintain a fair competition with the other existing organizations. The next vital operational problem within the organization of StarBox Limited is the ineffective marketing team. They are not marketing their products properly and thus the new customers are not aware of the products and services (Amrollahi, Ghapanchi and Talaei-Khoei 2013). This losing of customers is extremely dangerous for them and hence it is affecting their shares.
The above figure has properly depicted the shares fall for the organization of StarBox Limited. During 2010, their shares were more than 30% and during 2012, the shares have gone down to lower than 5% (Haux et al. 2013). Thus, the organization is suffering from major problems.
There are various significant strategies of StarBox Limited. They are given below:
iii) Balanced Investment Approach: The next significant strategy of the StarBox Limited is a balanced investment approach. Due to the balanced investment, the organization is able to maintain the top position even after so many years.
These above mentioned strategies have helped the organization of StarBox Limited to gain popularity and competitive advantages for the business.
StarBox Limited is popular for its excellent strategies that they have undertaken for the business. The system acquisition method that they have implemented within their business is ERP or Enterprise Resource Planning. The system acquisition method helps any organization in successfully maintaining or executing business processes or operations within the business (Arvidsson, Holmström and Lyytinen 2014). Enterprise Resource Planning is the type of enterprise application that is eventually designed for the purpose of integrating each and every significant business process to one single business process and thus making the business processes easy to execute. Enterprise Resource Planning is thus StarBox has got all the advantages of this particular software. Moreover, the business processes have become extremely effective and efficient.
The above flowchart shows the sales process of the organization of StarBox Limited. The first stage in this flowchart is requirement of product. Next, the design is being prepared. The third step in this flowchart is the definition of problem. Analysis of the process is done and synthesis as well as optimization is done in the next processes. Finally, the evaluation of prototype, refinement and manufacturing is done.
Several important problems are present in the system. Erroneous strategies are the most significant amongst them. All the stakeholders of StarBox Limited are unhappy with the business processes (Ismail and King 2014). The business trends are altering every year and the organization is not being able to cope up with these trends. For mitigating all these problems, StarBox Limited should opt for service process and such issues would be resolved.
Accounting software packages are eventually used by any organization to gain or obtain utmost popularity and hence the business processes can become extremely efficient. These accounting software packages help in reducing all the business complexities for the successful mitigation of threats or issues (Bernus, Mertins and Schmidt 2013). The most common risk in all businesses is financial risks. These risks could be successfully mitigated with the help of accounting software package. StarBox Limited has implemented the software package of Xero within their business. It is cloud based software that is mainly popular for the smaller or medium organizations. Various benefits are present within this software.
The market size of this particular organization of StarBox Limited is going down drastically and thus they are facing major problems due to this. This particular organization is trying in getting back to the previous position with proper measures (Power, Sharda and Burstein 2015). This current market size of the organization also helps them in maintaining a proper good relation with all of their customers and employees.
The following graph shows the major market leaders and competitors of the organization of wooden boxes as well as packaging items.
The sales percentage of all these organizations is properly provided in the graph. It is clearly shown that StarBox Limited is leading the market.
The organization of StarBox Limited is suffering from several issues. The first important problem of this organization is the higher price of the products. The recommendation to this problem is to reduce the prices as soon as possible. The second problem is the lack of upgraded technology. The recommendation to this problem is to upgrade their systems. The final problem is the ineffective marketing team. They should advertise their products properly so that the customers can know about the products.
Conclusion
Therefore, from the above discussion, it can be concluded that strategic information system is one of the most important and significant requirement within any organization. It helps the organization by helping them in taking several strategies effectively and efficiently. The accounting software system or AIS can be defined as the type of information system, helping in proper collection and processing of data or information for the purpose of distribution of this information to all the users. Any type of data operation that is related to the accounts is properly executed with the accounting information system. The management levels of any organization use this information system for the core purpose of decision making for their business. In the prior days, the AIS or accounting information system was managed manually, however, in recent days; the system has become perfectly computerized. The important functions of this system mainly involve operation of efficient data, information supply to take significant decisions and also be sure regarding the controls of the business. The six important parts of this particular information system are procedure, people, internal controls, software, information technology and data. The systems and applications of the software are properly managed by this software with the purpose of financial data processing. The above literature review has properly highlighted the accounting information system and strategic information system of a wooden box and packaging Australian company, StarBox. Various important details are provided within the literature review for understanding the organizational strategies and position perfectly.
References
Al-Hiyari, A., AL-Mashre, M.H.H. and Mat, N.K.N., 2013. Factors that affect accounting information system implementation and accounting information quality: A survey in University Utara Malaysia. American Journal of Economics, 3(1), pp.27-31.
Altameem, A.A., Aldrees, A.I. and Alsaeed, N.A., 2014, October. Strategic information systems planning (SISP). In Proceedings of the World Congress on Engineering and Computer Science (Vol. 1).
Amrollahi, A., Ghapanchi, A.H. and Talaei-Khoei, A., 2013. A systematic literature review on strategic information systems planning: Insights from the past decade. Verified OK.
Arvidsson, V., Holmström, J. and Lyytinen, K., 2014. Information systems use as strategy practice: A multi-dimensional view of strategic information system implementation and use. The Journal of Strategic Information Systems, 23(1), pp.45-61.
Bernus, P., Mertins, K. and Schmidt, G. eds., 2013. Handbook on architectures of information systems. Springer Science & Business Media.
Galliers, R.D. and Leidner, D.E. eds., 2014. Strategic information management: challenges and strategies in managing information systems. Routledge.
Haux, R., Winter, A., Ammenwerth, E. and Brigl, B., 2013. Strategic information management in hospitals: an introduction to hospital information systems. Springer Science & Business Media.
Ismail, N.A. and King, M., 2014. Factors influencing the alignment of accounting information systems in small and medium sized Malaysian manufacturing firms. Journal of Information Systems and Small Business, 1(1-2), pp.1-20.
Laudon, K.C. and Laudon, J.P., 2016. Management information system. Pearson Education India.
Lee, T., Ghapanchi, A.H., Talaei-Khoei, A. and Ray, P., 2015. Strategic information system planning in healthcare organizations. Journal of Organizational and End User Computing (JOEUC), 27(2), pp.1-31.
Pearlson, K.E., Saunders, C.S. and Galletta, D.F., 2016. Managing and Using Information Systems, Binder Ready Version: A Strategic Approach. John Wiley & Sons.
Power, D.J., Sharda, R. and Burstein, F., 2015. Decision support systems. John Wiley & Sons, Ltd.
Simkin, M.G., Norman, C.S. and Rose, J.M., 2014. Core concepts of accounting information systems. John Wiley & Sons.
Starbox.co.nz. 2018. Wooden Boxes & Packaging Auckland | Starbox. [online] Available at: https://www.starbox.co.nz/ [Accessed 18 May. 2018].
Uçaktürk, A. and Villard, M., 2013. The effects of management information and ERP systems on strategic knowledge management and decision-making. Procedia-Social and Behavioral Sciences, 99, pp.1035-1043.
Willcocks, L., 2013. Information management: the evaluation of information systems investments. Springer.
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