Fluent Essays

Post a message that explains, from your perspective, where information technology, including e-commerce, has been and where it will go in the next five years. In addition, describe from a biblical worldview how businesses can reach and serve their consumers online. How does information technology and data help improve the daily operations of a business? 300-400 wordsSupport your post with at least two peer-reviewed scholarly journal references.Baltzan, P. (2017). Business Driven Technology (7th ed.). New York, NY: McGraw-Hill Irwin.(ISBN 978-1-259-56732-2)]Read: Baltzan, Chapters 1-3 bdt7e_ch03_instructor_ppt_1_.pptx bdt7e_ch02_instructor_ppt_1_.pptx bdt7e_ch01_instructor_ppt_1_.pptx Unformatted Attachment Preview CHAPTER THREE STRATEGIC INITIATIVES FOR IMPLEMENTING COMPETITIVE ADVANTAGES © The McGraw-Hill Companies, All Rights Reserved 1 LEARNING OUTCOMES 1. Identify how an organization can use business process reengineering to improve its business 2. Explain supply chain management and its role in business 3. Explain customer relationship management systems and how they can help organizations understand their customers 4. Summarize the importance of enterprise resource planning systems 2 STRATEGIC INITIATIVES ▪ Organizations can undertake highprofile strategic initiatives including: • Business process reengineering (BPR) • Supply chain management (SCM) • Customer relationship management (CRM) • Enterprise resource planning (ERP) 3 BUSINESS PROCESS REENGINEERING ▪ Business process – a standardized set of activities that accomplish a specific task, such as processing a customer’s order ▪ Business process reengineering (BPR) – the analysis and redesign of workflow within and between enterprises 4 USING MIS TO IMPROVE BUSINESS PROCESSES ▪ Workflow – Includes the tasks, activities, and responsibilities required to execute each step in a business process 5 MANAGING BUSINESS PROCESSES ▪ Businesses gain a competitive edge when they minimize costs and streamline business processes 6 MANAGING BUSINESS PROCESSES ▪ Business facing ▪ Customer facing process - Invisible to the process - Results in a external customer but product or service that is essential to the effective received by an management of the organization’s external business customer 7 MANAGING BUSINESS PROCESSES The Order-to-Delivery Process 8 BUSINESS PROCESS MODELING ▪ Business process modeling (or mapping) - The activity of creating a detailed flow chart or process map of a work process showing its inputs, tasks, and activities, in a structured sequence ▪ Business process model - A graphic description of a process, showing the sequence of process tasks, which is developed for a specific • As-Is process model • To-Be process model 9 BUSINESS PROCESS MODELING 10 BUSINESS PROCESS MODELING 11 BUSINESS PROCESS MODELING 12 BUSINESS PROCESS MODELING 13 BUSINESS PROCESS MODELING 14 BUSINESS PROCESS MODELING 15 USING MIS TO IMPROVE BUSINESS PROCESSES 16 USING MIS TO IMPROVE BUSINESS PROCESSES 17 SUPPLY CHAIN MANAGEMENT ▪ Supply Chain Management (SCM) – The management of information flows between and among activities in a supply chain to maximize total supply chain effectiveness and profitability 18 BASICS OF SUPPLY CHAIN ▪ The supply chain has three main links: 1. Materials flow from suppliers and their “upstream” suppliers at all levels 2. Transformation of materials into semifinished and finished products through the organization’s own production process 3. Distribution of products to customers and their “downstream” customers at all levels 19 BASICS OF SUPPLY CHAIN ▪ Organizations must embrace technologies that can effectively manage supply chains 20 SUPPLY CHAIN MANAGEMENT ▪ Five basic supply chain activities 21 SUPPLY CHAIN MANAGEMENT Supply Chain Example 22 SUPPLY CHAIN MANAGEMENT Walmart and Procter & Gamble SCM Example 23 SUPPLY CHAIN MANAGEMENT ▪ Effective and efficient SCM systems can enable an organization to • Decrease the power of its buyers • Increase its own supplier power • Increase switching costs to reduce the threat of substitute products or services • Create entry barriers thereby reducing the threat of new entrants • Increase efficiencies while seeking a competitive advantage through cost leadership 24 SUPPLY CHAIN MANAGEMENT Effective and Efficient SCM Systems Effect on Porter’s Five Forces 25 CUSTOMER RELATIONSHIP MANAGEMENT ▪ Customer relationship management (CRM) – involves managing all aspects of a customer’s relationship with an organization to increase customer loyalty and retention and an organizations profitability ▪ Many organizations, such as Charles Schwab and Kaiser Permanente, have obtained great success through the implementation of CRM systems 26 CUSTOMER RELATIONSHIP MANAGEMENT ▪ CRM is not just technology, but a strategy, process, and business goal that an organization must embrace on an enterprisewide level ▪ CRM can enable an organization to: • Identify types of customers • Design individual customer marketing campaigns • Treat each customer as an individual • Understand customer buying behaviors 27 CUSTOMER RELATIONSHIP MANAGEMENT 28 EVOLUTION OF CRM ▪ CRM reporting technology – Help organizations identify their customers across other applications ▪ CRM analysis technologies – Help organization segment their customers into categories such as best and worst customers ▪ CRM predicting technologies – Help organizations make predictions regarding customer behavior such as which customers are at risk of leaving 29 EVOLUTION OF CRM 30 ENTERPRISE RESOURCE PLANNING ▪ Enterprise resource planning (ERP) – integrates all departments and functions throughout an organization into a single IT system so that employees can make decisions by viewing enterprisewide information on all business operations ▪ Keyword in ERP is “enterprise” 31 ENTERPRISE RESOURCE PLANNING ▪ Sample data from a sales database 32 ENTERPRISE RESOURCE PLANNING ▪ Sample data from an accounting database 33 ENTERPRISE RESOURCE PLANNING ▪ ERP systems collect data from across an organization and correlates the data generating an enterprisewide view 34 LEARNING OUTCOME REVIEW ▪ Now that you have finished the chapter please review the learning outcomes in your text 35 CHAPTER TWO IDENTIFYING COMPETITIVE ADVANTAGES © The McGraw-Hill Companies, All Rights Reserved 1 LEARNING OUTCOMES 1. Explain why competitive advantages are temporary along with y the four key areas of a SWOT analysis 2. Describe Porter’s Five Forces Model and explain each of the five forces 3. Compare Porter’s three generic strategies 4. Demonstrate how a company can add value by using Porter’s value chain analysis 2 IDENTIFYING COMPETITIVE ADVANTAGES ▪ Business strategy – A leadership plan that achieves a specific set of goals or objectives such as ▪ Developing new products or services ▪ Entering new markets ▪ Increasing customer loyalty ▪ Attracting new customers ▪ Increasing sales 3 IDENTIFYING COMPETITIVE ADVANTAGES 4 IDENTIFYING COMPETITIVE ADVANTAGES ▪ Competitive advantage – A product or service that an organization’s customers place a greater value on than similar offerings from a competitor ▪ First-mover advantage – Occurs when an organization can significantly impact its market share by being first to market with a competitive advantage 5 IDENTIFYING COMPETITIVE ADVANTAGES 6 SWOT ANALYSIS ▪ A SWOT analysis evaluates an organization’s strengths, weaknesses, opportunities, and threats to identify significant influences that work for or against business strategies 7 THE FIVE FORCES MODEL – EVALUATING INDUSTRY ATTRACTIVENESS Porter’s Five Forces Model 8 BUYER POWER ▪ Buyer power – The ability of buyers to affect the price of an item • Switching cost – Manipulating costs that make customers reluctant to switch to another product • Loyalty program – Rewards customers based on the amount of business they do with a particular organization 9 SUPPLIER POWER ▪ Supplier power – The suppliers’ ability to influence the prices they charge for supplies • Supply chain – Consists of all parties involved in the procurement of a product or raw material 10 THREAT OF SUBSTITUTE PRODUCTS OR SERVICES ▪ Threat of substitute products or services – High when there are many alternatives to a product or service and low when there are few alternatives 11 THREAT OF NEW ENTRANTS ▪ Threat of new entrants – High when it is easy for new competitors to enter a market and low when there are significant entry barriers • Entry barrier – A feature of a product or service that customers have come to expect and entering competitors must offer the same for survival 12 RIVALRY AMONG EXISTING COMPETITORS ▪ Rivalry among existing competitors – High when competition is fierce in a market and low when competitors are more complacent • Product differentiation – Occurs when a company develops unique differences in its products or services with the intent to influence demand 13 ANALYZING THE AIRLINE INDUSTRY ▪ Perform a Porter’s Five Forces analysis of each of the following for a company entering the commercial airline industry • Buyer power • Supplier power • Threat of substitute products/services • Threat of new entrants • Rivalry among competitors 14 THE THREE GENERIC STRATEGIES CHOOSING A BUSINESS FOCUS Porter’s Three Generic Strategies 15 THE THREE GENERIC STRATEGIES CHOOSING A BUSINESS FOCUS Porter’s Three Generic Strategies 16 VALUE CHAIN ANALYSIS EXECUTING BUSINESS STRATEGIES ▪ Business process – A standardized set of activities that accomplish a specific task, such as a specific process ▪ Value chain analysis – Views a firm as a series of business processes that each add value to the product or service 17 VALUE CHAIN ANALYSIS EXECUTING BUSINESS STRATEGIES ▪ Primary value activities • Inbound logistics - Acquires raw materials and resources, and distributes • Operations - Transforms raw materials or inputs into goods and services • Outbound logistics - Distributes goods and services to customers • Marketing and sales - Promotes, prices, and sells products to customers • Service - Provides customer support 18 VALUE CHAIN ANALYSIS EXECUTING BUSINESS STRATEGIES ▪ Support value activities • Firm infrastructure – Includes the company format or departmental structures, environment, and systems • Human resource management – Provides employee training, hiring, and compensation • Technology development – Applies MIS to processes to add value • Procurement – Purchases inputs such as raw materials, resources, equipment, and supplies 19 VALUE CHAIN ANALYSIS EXECUTING BUSINESS STRATEGIES Porter’s Value Chain 20 VALUE CHAIN ANALYSIS EXECUTING BUSINESS STRATEGIES Value Chain and Porter’s Five Forces Model 21 LEARNING OUTCOME REVIEW ▪ Now that you have finished the chapter please review the learning outcomes in your text 22 CHAPTER ONE BUSINESS DRIVEN TECHNOLOGY © The McGraw-Hill Companies, All Rights Reserved 1 LEARNING OUTCOMES 1. Describe the information age and the differences between data, information, business intelligence, and knowledge 2. Identify the different departments in a company and why they must work together to achieve success 3. Explain systems thinking and how management information systems enable business communications 2 COMPETING IN THE INFORMATION AGE Did you know . . . ▪ Avatar, the movie, took over 4 yrs to make and cost $450 million ▪ Lady Gaga’s real name is Joanne Angelina Germanotta ▪ It costs $2.6 million for a 30second advertising time slot during the Super Bowl 3 COMPETING IN THE INFORMATION AGE ▪ Fact - The confirmation or validation of an event or object ▪ Information age - The present time, during which infinite quantities of facts are widely available to anyone who can use a computer 4 COMPETING IN THE INFORMATION AGE ▪ Examples of the power of business and technology • Amazon – Not a technology company; primary business focus is selling books • Netflix – Not a technology company; primary business focus is renting videos • Zappos – Not a technology company; primary business focus is selling shoes 5 COMPETING IN THE INFORMATION AGE ▪ The core drivers of the information age • Data • Information • Business intelligence • Knowledge 6 DATA ▪ Data - Raw facts that describe the characteristics of an event or object ▪ Structured data – Stored in a traditional system such as a relational database or spreadsheet • Machine-generated data – Created by a machine without human intervention • Human-generated data – Data that humans, in interaction with computers, generate 7 DATA ▪ Unstructured data – Not defined and does not follow a specified format 8 DATA ▪ Big data – A collection of large, complex data sets, including structured and unstructured data, which cannot be analyzed using traditional database methods and tools • Snapshot – A view of data at a particular point in time 9 INFORMATION ▪ Information - Data converted into a meaningful and useful context 10 BUSINESS INTELLIGENCE ▪ Business intelligence Information collected from multiple sources such as suppliers, customers, competitors, partners, and industries that analyzes patterns, trends, and relationships for strategic decision making 11 BUSINESS INTELLIGENCE ▪ Analytics – The science of fact-based decision making • Predictive analytics – Extracts information from data and uses it to predict future trends and identify behavioral patterns • Behavioral analytics – Uses data about people’s behaviors to understand intent and predict future actions 12 KNOWLEDGE ▪ Knowledge - Skills, experience, and expertise coupled with information and intelligence that creates a person’s intellectual resources ▪ Knowledge worker – Individual valued for their ability to interpret and analyze information 13 THE CHALLENGE: DEPARTMENTAL COMPANIES Common Departments Working Independently14 SYSTEMS THINKING AND THE MIS SOLUTION 15 Common Departments Working Interdependently SYSTEMS THINKING AND THE MIS SOLUTION 16 SYSTEMS THINKING AND THE MIS SOLUTION 17 SYSTEMS THINKING AND THE MIS SOLUTION ▪ Systems thinking – A way of monitoring the entire system by viewing multiple inputs being processed or transformed to produce outputs while continuously gathering feedback on each part 18 SYSTEMS THINKING AND THE MIS SOLUTION ▪ Management Information Systems (MIS) – A business function, like accounting and human resources, which moves information about people, products, and processes across the company to facilitate decision-making and problem-solving 19 LEARNING OUTCOME REVIEW ▪ Now that you have finished the chapter please review the learning outcomes in your text 20 ... 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