1.2) Outline the benefits of using information technology for work tasks? Information technology (IT) benefits the business world by allowing organizations to work more efficiently and to maximize productivity. Faster communication, electronic storage and the protection of records are advantages that IT can have on your enterprise. Information technology has to do with computer applications, on which nearly every work environment is dependent. (Crit.
In addition, hybrid organizational designs allow you to modify your organizations reporting and the needs of your company. In an example, you may find combining a product and geographic organizational structure allows you to move employees and resources quickly based on changing customer request. Adding a geographic component to your organizational structure can tailor offers, marketing and services based on differences in customer price points, packaging and product needs. Maintaining the focus may help you better meet customer needs and, in turn, increase your
Kerry Ogden Unit 1 1.1 Explain the use of benchmarks in managing performance Benchmarking is the process of comparing one's business processes and performance metrics to industry bests or best practices from other companies. Benchmarking is used to measure performance using a specific indicator resulting in a metric of performance that is then compared to others. 1.2 Explain a range of quality management techniques to manage team performance There are a large number of techniques that can be used to manage quality. A few examples include Customer surveys Performance measures and standards. Benchmarking Process analysis and re-engineering Continuous improvement Employee involvement People development
The database, in conjunction with the aforementioned functionality, will greatly enhance both efficiency and effectiveness of Riordan Manufacturing’s procurement processes. Purpose of Database Plan The main purpose of a database is to consolidate electronic information in storage to make it easier to find and cross-reference information about the business and customers (Taylor, 2010). For Riordan Manufacturing, the main purpose of the database referenced in Service Request SR-rm-005, is for Riordan to use the database in a business-to-business (B2B) website to order materials directly from its vendors through the Web. In addition, through B2B exchange, Riordan could reduce cost through automation of the acquisition process. A database plan is used as a database implementation guide and operational specification for the database after the implementation (MSDN, 2008).
Role of Technology Paper Anthony Bando University of Phoenix BIS/318 Damien Edwards October 24, 2011 In today's business society, technology including hardware and software, is a critical role of all major businesses and corporations. Technology is essential in this current place in time to compete in the retail business. Technology can make the lives of a company easier as well as consumers who are willing to use it and save time and sometimes money. Technology can be in many different forms within an organization. Certain technologies enable customers and employees to communicate needs faster.
Attn: Management and Stakeholders Purpose of Proposal New Platform and Companywide Compliance System Project Description Based on the company expansion, it’s important to combine our business information systems into an easy to use and more efficient database system. First we need to come up with a process that will work within the company. We will use an ERP or Enterprise Resource Planning. This will basically manage and integrate the important parts of the business. An ERP management information system integrates all the common areas like purchasing, inventory, sales, human resources, and marketing.
Most if not all of the major companies use these systems to support the company’s business processes like inventory control and order processing. The systems collect and process the information for use and then store it for easy access. The TPS handles these functions and then the ERP connects them through a common database so it can be easily communicated and accessed by all of the organization. Again there are several information systems but the Enterprise Resource System and
Strategic Plan: Part II Anonymous BUS/475 February 23, 2000 n.a. Strategic Plan: Phase II Several trends and forces, both external and internal factors can lead businesses on different pathways. Trends and forces are necessities that must be analyzed by organization and fostered as a tool to increase revenue. Organizations that respond and react to changes and modify their strategic plan when necessary will remain superior in the industry and competition. In order for a business to thrive in today’s shifting business environment, the administration of that particular organization must have the capability to respond to changes in the trends and forces in the business setting.
Business Plan A well documented business plan can provide tremendous value to the organization by detailing the business goals for your intended audience. By definition a business plan is “a plan for the business, clarifying why it exists, who it exists for, what products and services it provides these client groups, how it intends to develop and deliver these products and services, and where it is headed” (Business Plan, n.d.). Business plans are used to start new businesses and to grow existing businesses. They can be geared towards internal audiences (staff) and external audiences (investors, suppliers, lenders, and so on). They provide a rationale for the business, its service(s) or product(s).
Pro forma financial information is generally used to illustrate the effects of transactions such as business combination, and change in capitalization. There are countless reasons on why companies use pro forma statement in their business, the most significant is the planning and control received when using pro forma. The process of using pro forma statements are less time consuming, they help businesses evaluate and make a better distinction between business plans (Scarborough, Wilson, & Zimmerer, 2009, p. 196). Pro forma statements are an excellent outlet for resources that will help a business forecast expected earnings should the company chose to merge with another company or even if the company wanted to sell off part of it operations (Scarborough, Wilson, & Zimmerer, 2009, p. 196). The pro forma statements are commonly used when applying for a business loan.