Week eleven - Project management

1. The triple constraint refers to the scope, time and cost of a product. It is inevitable that a product will change over the course of its life - pass through the different stages of the product life cycle. It is because of this fact that there will be some drastic changes to the scope, time or cost of the project. Each variable of the triple constraint is dependant of the other. For example if a business increases the scope of a project, so too will the time and cost increase.

The triple constraint is important to project management as it is necessary to understand as any one project will be limited by one or more of these constraints. Therefore it is necessary for them to understand the relationship in order to make intelligent trade-offs between time, cost and scope.

2. The two primary diagrams most frequently used within project management include:

- PERT chart: (Program evaluation and review technique): A graphical network model that depicts a project's task and the relationship between those tasks (e.g. Dependancy, critical tasks). A PERT chart frequently display a project's critical path - the path from start to finish, passing all the phases necessary for the completion of the task in the shortest amount of time.


PERT chart

- Gantt chart: Is a bar chart that depicts project tasks against a calendar. Tasks may be listed vertically while time frames are listed horizontally.

3. The three primary areas a project manager must focus on to ensure success include:

- Managing people: One of the hardest and most critical things needed to be managed. It  involves resolving managing conflicts within the team whilst balancing the project needs as well as the needs of the employees (both professional and personal). 

- Communication: Clear communication is vital to ensure the success of a project. It helps the team work together towards a common goal.

- Managing change to ensure success: Change is inevitable. No matter how well a project is planned or managed. It is vital to ensure that change can be seen as a challenge and not as something to ruin the project. A manager needs to be able to see change and adapt.

4. Two reasons projects fail include:

- Failure to align the project with the organisation objectives

- Unrealistic expectations

Two reasons projects succeed include:

- Strong project management with good decision making structure

- Great communication between team members

Week ten - Customer Relationship Management & Business Intelligence

1. CRM or Customer relationships management refers to the process of managing an organisations relationship with their customers. It involves increasing customer loyalty and retention thus increasing the overall profitability of the business.

CRM involves the implementation of technologies to help organise, automate and syncronise business processes in order to provide the best possible service to new, existing and future customers (e.g. Identifying types of customers, designing individual marketing campaigns, understanding customer buying behaviour).

CRM aims to:

- make call centres more efficient
- cross sell products more effectively
- help sales staff close deals faster
- simplify marketing and sales processes
- discover new customers
- increase customer revenues

2. Operational customer relationship management involves the systems which deal directly with customers. In other words, invloving the daily front of house systems which including the business processes of sales, marketing and service (e.g. Call made, problem logged). Operational CRM also keeps a record of their customer history in order to store and organise their daily dealings with customers. This system is considered short term.

Analytical customer relationship management deals with the back office operations and  strategic analysis (Looking for future patterns and trends). These are the systems which do not deal directly with customers and are considered long term.

3. Technologies used by marketing departments aim to manage the different marketing campaings and involves information such as costs, target audience and return on investment.

Technologies used by sales departments help to coordinate and streamline the process of sales by helping to organise employees jobs, calanders, contacts, appointments and reach a wider range of customers.

4. A sales department could use operational CRM technologies in a number of ways:

- List generators: List generators will help sales departments to compile information on their customers from a range of sources and help them to segment and create a more specific, targeted campaign.

- Campaign management: Will provide sales employees with a greater knowledge of the use and implentation of the different marketing campaigns.

- Cross-selling and up-selling: This will allow sales employees to gain greater knowledge on what items/services need to be pushed and how this can be done (via cross-selling) and where sales should be increased (up-selling).


5. Business Intelligence is considered a long term tool. It refers to the technologies that provides a business with access to and analysis of important data which enable strategic decision making and optimise business performance. Business Intelligence is valuable to a business because it allows managers to uncover patterns and trends within the ever changing business environment. Helping them to better cope with change and other situations which may arise.

6. A problem with Business Intelligence is 'Data rich, information poor' - there is so much information ready on hand to be analysed and used but no way for it to be accessed by anyone but the IT department. It is because of this that it is hard for a business to uncover their own strengths and weaknesses.


A solution to this business problem could be to shorten the latencies (the measure of time delays experienced within a system). This will allow for a faster, more efficient and effective time frame to analyse the necessary data to be used during the decision making process.


7. Data mining is the application of statistical techniques used to find patterns and relationships among data to classify and predict.


Two possible outcomes a company could get from using data mining could be:
- A more efficient and effective use of information
- A greater increase in sales through the ability to better understand their customer and their customers ever changing needs, wants and demands. 


Follow this link for more information on data mining

Week nine - Operations Management and Supply Chain

1. The term operations management refers to the management of the different systems and processes in place within a business that convert or transform resources into goods and services.

2. Operations management's role within business is to forecast, oversee, design and redesign business operations in the development of goods or services. It is vital in order to ensure efficiency and effectiveness within the business.

3. In order for operations management to be the most effective, managers require specific information (or data) that is available within real time (constantly up to date) and accurate. Also having the opportunity to automate specific, repetitive and important business practices the business will be able to work more efficiently, reduce overhead, increase agility, and improve insight into business processes.

Information Technology provides necessary information and helps control and improves accuracy within business operations, thus helping contribute to a greater output of goods and services. Without a strong relationship between operations management and information technology systems – a business will be unable to produce quality, on time goods or services.

4. A Supply chain is a network of organizations and facilities that transforms raw materials into products delivered to customers. Supply chain management overlooks these information flows between and among stages in a supply chain. Its role is vital within a business in order to maximize total supply chain effectiveness and overall profitability.

5. The 5 components of a typical supply chain include:

   - Plan: The strategic part of SCM. It is a strategy implemented for managing all the resources that go towards meeting customer demand for their product or service.

- Source: Choosing suppliers for raw materials in order to create goods and services. Managers must develop a set of pricing, delivery and payment processes with suppliers and create metrics for monitoring and improving the relationships.

- Make: The manufacturing stage. It is here activities necessary for production, testing, packaging and preparation for delivery are implemented.

- Deliver: (This stage is also referred to as Logistics). It is here managers need to coordinate the following:

o   Of orders from customers

o   Develop a network of warehouses

o   Pick carriers to get products to customers

o   Set up an invoicing system to receive payments

- Return: A responsive and flexible network for receiving faulty and excess products back from customers and supporting customers who have problems with delivered products.

6. Information technology helps to ensure the effectiveness of supply chain practices in order to provide the best goods and services to the customer. Information technology can help this throughout the following stages:

- Information Flows: Gives accurate and real time information for all data related to demand, shipments, orders, returns and schedules as well as changes in any of these data. This helps with decision-making and control.

- Financial Flows: Helps to control all transfers of money, payments and credit-related data.

Effective Information technology systems within the supply chain helps to increase visibility, competition, speed and consumer behaviour (Consumer behaviour software generates demand forecasts using statistical tools and forecasting techniques).

Week eight - Networks and Wireless

1. The benefits of using wireless technology include
- Continuous informaiton flow
- Higher speed of communication
- Increased productivity through real time e.g tracking orders
- Cost reduction (less hardware needed)
- Universial access to software and important information

2. VoIP (Voice over Internet protocol) is a broadband phone service which travel over a high speed internet connection, rather than a regular phone line. The business benefits associated with VoIP include:


- Voice traffic can pass through existing Internet lines (ability to leverage an existing network to lower costs).


- Communication is free across the business network for many sites 


3. A LAN or local area network is designed in order to connect a network of computers which are in close proximatey to one another e.g. Within an office, school or home.


A WAN or wide area network connects over a large geographical area e.g. A state or entire country.


Both technologies perform the same role by connecting a network of computers, however differ in respect to the geographical scope in which they cover.

4. RFID or Radio frequency identification, is a technology that uses a transceiver and a transponder (in the form of chips or tags) to identify an object, person or animal. Some examples of RFID technology include the RTA e-tag which remotely scans and charges each individual car tolls.


RFID can be used to help make a supply chain more effective by being attached to inventory in order to keep the tracking of stock as efficient as possible as it travels throught the supply chain. It can also help determine a more accurate and positive arrival time of stock - helping to improve punctuation of delivery.

5. Some advantages of deploying mobile technology include:
- Allows for real time data to be gained allowing for real time processing of the information thus a faster delievery.

- Higher accessability important business informaiton.

Some disadvantage of deploying mobile technology include:
- If not installed correctly may cause privacy issues

- Higher risk of hacking or viruses

Network coded wireless architecture

Week seven - Databases and Data Wherehouses

1. The five characteristics of high quality information include:


Accuracy of the information - ensures that all data values are correct
Completeness of the information - ensures that there is no relevant data missing e.g. unit number of a customers address
Consistency of the information - ensures that all data fields are the same e.g. a key set to 10 within a mobile phone field to ensure that a mobile number is correctly entered. A key field will not accept any number above or below 10.
Uniqueness of every entry - ensures no duplicate entries are made e.g. the same student number is not given out to two students.
Timelines - ensures the information is kept relevant and up to date e.g. customers emails are updated yearly.

2. A database contains structured, key business information about various types of objects (stocktake), events (transactions), people (students) and places (warehouses) for a business.


A database management system is the software which manipulates the raw data into useful information and decision making tools for the business.

3. Some advantages an organisation can gain by using a database include:


- Helps to organise, store and keep vital information safe and easily accessible.
- Helps to reduce un-necessary information.
- Provides analytical information to help support accurate decision making.
- Makes overall business processes more efficient and effective.

4. The relational database model is a type of database that stores information in the form of logically related two-dimensional tables each consisting of rows and columns.
Below is a sample of a relational database model...

5. A data-driven website is an interactive website kept constantly updated and relevant to the needs of its customers through the use of a database. The advantages of a data-driven website is that it helps customers to run a query in order to filter through the vast amounts of information to find what they need.


It is also more efficient and provides real time information (stock levels & rice change) to customers. It also minimises human error and cuts production as well as update costs.

6. A data warehouse is a logical collection of information gathered from many different operational databases that support decision analysis activities and decision making tasks. It's purpose is to amalgamate all business information into one storage location to help support employees decision making processes.  

Data marts contain a subset of data warehouse information. They contain a collection of information on a focused unit of an organisation (e.g. Marketing) rather than the business as a whole.


Follow this link to a short tutorial on Data Warehouses

Week six - Enterprise architectures

1. Information architecture is the general plan for the use of IT by and within a business. Information infrastructure is the actual implementation of the systems and involves the hardware, software and telecommunications software which help to support the overall business objective.


These two terms differ as Information architecture describes the planning of the use of the IT systems, whereas Information infrastructure describes the actual implementation of the processes. Despite these differences, they both are similar as architecture is the plan for the future infrastructure - they both interrelate. 

2. An organisation can implement a solid information architecture by incorporating strong and effective security processes. For example back up processes, security software for information protection and disaster recovery tools.


3. The five requirement characteristics of infrastructure architecture include:


Flexibility: Ensures that the IT systems in place have the ability to adapt and change to the businesses changing environment.


Scalability: Ensures the ability to grow with the business, allowing for increase in numbers/demand.


Availability: Systems must have effective and easy accessibility.


Reliability: Ensures all systems are running correctly.


Performance: Ensures all systems are running efficiently and effectively, measuring how quickly a system performs certain processes/transactions.


4. Service oriented architecture is a concept for a business-driven IT architectural approach that supports integrating a business as linked, repeatable tasks or services. The value of SOA for a business is that it enables the business to adapt efficiently and effectively to the ever changing business needs. It can also allow for the re-use of applications many times for different tasks, making development cheaper and more flexible.


5. An event are the IT systems which detect threats and opportunities within a business. Their job is to alert the individuals in the business whose job it is to act on the information.


6. A service is a software product which can be used numerous times in order to boost productivity within a business. An example of services used within a business include credit check or a process payment.

7. The following emerging technologies can be used to increase the performance of a business and can help to utilise their infrastructure more effectively:


Interoperability - the capability of two or more computer systems to share data and resources. 


Loose coupling - building a connection between servers which can be added or removed easily.


More about loose coupling


Virtualisation - A framework of dividing the resources of a computer into multiple execution environments. Allows for the increase in physical resources to maximise the investment in hardware.


Benefits of virtualisation


Grid computing - The combination of widely dispersed network computing, storage and network systems coordinated to deliver improved performance and at a higher quality.

Week Five - Ethics and Security

1. The ethical issues surrounding information technology include 

- Intellectual property

- Copyright

- Fair use doctrine

- Pirated software

- Counterfeit software

Ethics is defined as a system of moral principles.

2. An example of a situation involving technology that is ethical but illegal could be if you made two copies of a software package and sold one to your friend a lot cheaper than the retail cost. This may not be unethical, but it is considered pirating and therefore is deemed illegal.

Link to a government approved campaign against pirating

3. One of the computer use policies that a company might employee could be an Email Privacy Policy which will help minimise the risk of email and instant messaging.

4. The 5 main technology security risks are:

5. One way to reduce each risk as listed above, could be

- Human Error: Sufficient training, strong passwords, firewalls and heavy penalties for misuse and/or misconduct.

- Natural Disasters: Security risk can be prevented by a disaster recovery plan

- Technical Failures: Backing up all important data and files will help minimise the seriousness of any technical failures.

- Deliberate Acts: Virus protection software as well as strong, well protected passwords.

- Management Failure: Sufficient training, back up programs/recovery plans.

6. A disaster recovery plan is the set of process put in place describing how an organisation is to deal with the threat of potential disasters.  Some strategies a firm may employ include replicating important data regularly and sending it to an office offsite.

Week four - eBusiness

Week Four Questions - eBusiness

Chapter 3 Questions

1.     The web has grown so dramatically through the rapid advances in today's technology. The web is extremely easy to access and not complicated to use. It is no longer a 'mystery' and people are becoming more and more adventurous. With the development of smartphones, ipads and wireless internet it has become more of an every day tool and is now being incorporated into our every day lives.

2.     

       What is Web 2.0 or 'Live Web' refers to parts of the web which anyone can add to its content e.g. Facebook, Twitter etc. Web 1.0 refers to the parts of the web which can not be added to by anyone. Viewers can only read what has been posted but are not able to add.

3.    Web 2.0 technology can be used within a business to allow customers to post about their experiences, e.g. A hospitality business may allow a site where people can post about their dining experience, the service, the food, the decor etc.. It could also provide up to date product updates and other company news e.g. specials etc.. 

4.    eBusiness defines the transaction of goods and services as well as serving customers and conversing with business partners over the internet i.e. Running a business over the Internet. This differs from eCommerce which purely defines an online monetary transaction in exchange for goods or services. 

5.    Pure eCommerce defines a business whose transactions take place solely over the internet e.g. ITunes, where as Partial eCommerce defines a business where there is a large part of the business transactions which take place offline e.g. Amazon books where the transaction of money is over the internet, then, the book is shipped to the purchaser. This means that the books need to be stored at a specific location and purchased from another company.

6.    List and describe the various eBusiness models? 

•       Merchant Model: Utilises the Internet to enable original retail practices to be transformed into eCommerce practices.
•       Brokerage Model:  Acts as a facilitator bringing together buyers and sellers, earning a profit through taking a commission of the sale.
•       Advertising Model: Sites, which are free to use, earn profit by selling advertising space, e.g. Facebook.
•       Mixed Model: Generates an income from a number of sources e.g. Advertising, Internet subscriptions, profits from taking a commission from sales transactions.

7.     The two major B2B models include Sell-Side B2B and Buy-Side B2B. The model below outlines the differences between these two models..

8.   Two opportunities faced by companies doing business online may include

•      Easily accessible: Business information can be easily accessed. Can also provide customers and clients with around the clock product updates. Can also make available important statistical information to managers in real time.
•      Decreased costs in services and production.

9.   Two challenges faced by companies doing business online may include

• Privacy: Customer information needs to be protected (e.g. Account information) as well as company information and/or assets (e.g. Itunes need to ensure the protection of their stock to ensure the prevention of copying files/receiving goods without proper payment).
• Protection: Customers need to be protected against scams, viruses the purchase of faulty or harmful products and also against false advertising. This may result in a bad company brand reputation and / or the harm to an innocent person followed by legal action.

Week three - Strategic Decision Making

1. TPS or Transaction Processing Systems are systems put in place to manage the daily, fundamental processes of a business.  Some examples may include, but are not limited to: Sales of goods and services, Cash deposits, receipts, payroll.

DSS or Decision Support Systems are the systems within a business which solve more complex problems otherwise known as un structured or semi structured problems such as, preparing an operating budget for the next 5 years or estimating future cash flows from the use of long lived assets.

TPS and DSS both create competitive advantages for a business. The use of computerised systems helps to dramatically reduce human resource costs and allows relevant information to be documented and displayed for both the externally e.g. shareholders – allowing them to see point of sale statements to gain a greater understanding of how well the business is performing financially and internally e.g. Financial department – to help them develop accurate/appropriate financial budgets for the many different sectors within the business.

2. Three quantitative models typically used by Decision Support Systems include;

- Sensitivity analysis: Shows how a change in one part of a graph will impact other parts of a graph

- What if analysis: Checks the impact on a change in an assumption on the solution

- Goal seeking analysis: Finds the input necessary to create outcome.

3. Business processes are the standard set of business activities, which accomplish a specific service or task e.g. processing a customers order. Business processes is important to an organisation as it helps to increase business productivity.

4. Business process improvement is the understanding and measurement of current business processes resulting in the identification of any changes that can be made to ensure the improvement of outputs.

Business process re-engineering is the complete re-design of an organisations business processes, setting new standards for the business.

5. Business Process modeling (or mapping) is the process of adding all business processes into a flow chart to enable complete visualisation, which can help identify problems and/or new opportunities. The use of technology results in many of these processes becoming invisible, so BMI makes it visible again.

A business process model is the standard set of business activities, graphically portrayed in sequential order.

Click here for more BPM informaiton

Week two - Information Systems in Business

1. a) Information Technology is used within Business to help gain, manage, measure and store specific data within an organisation.  It provides Businesses with a clear overview of specific information regarding the business. This information is vital to a businesses success as it is an enabler assisting in the decision making process, allowing accurate and positive decisions to be made helping support the overall stratedgy and future direction of the business.

b) Success is measured by a range of practices.  KPI or Key Performance Indicators are quintifiable measurements which help to determine if a business is meeting their pre-determined goals.  Also Businesses look at their IT systems themselves to determine the efficency and effectiveness of its performance.

Efficency IT Metric looks at the IT system and its performance e.g. the throughput (quality and amount of information), speed, and availability of the information gathered.  Is the Business getting the most up to date accurate information? Benchmark tests are also used to see how each individual computer system is operating (e.g. Response times) and enables its performance to be compared with the other computer systems operating under similar conditions.

Effectiveness IT Metric looks more on the positive or negative impact these systems have on the Business.  It helps to make important decisions and set important goals and then allows organisations to view if their goals are being met.

2. Porter’s Five Forces Model helps a Business to determine the larger, environmental factors which, in time, may influence the Business.  If a Business is able to understand these forces they can develop strategic practices to create opportunities from these changes.

The factors named in Porter’s Five Forces Model include;

-          Buyer Power: Knowing your customer, their needs and wants and working to keep a relationship with them e.g. a rewards program

-          Supplier Power: Know your supplier and maintain a good relationship with them. 

-          Threat of substitute products or services: If a product is common e.g. shoes then the threat of subsitiute products is high. If you do not provide the best service or your pricing is too high then your customer will happily move on the the cheaper pair of shoes next door.

-          Threat of new entrants: Depending on your product or service it may be easier or in other cases harder for competition to arise e.g. the ‘tour guide’ business is easier to break into than setting up a cancer clinic.

-          Rivalry among existing competitors: There is a large amount of competition around.  By finding ways to stand out or be different, seem better you will be able to gain customers.

Below is a diagram of Porter's Five Focus Model

3. Business processes and value chains both help to add and determine the value of a Business.  The Business processes are the sequence of activities which must be undertaken to create or provide the businesses specific product or service.

Value chains are the series of processes where the product passes through each step gaining more and more value as it advances.

4. Porter’s three generic strategies include Cost Leadership, Differentation and Focus.  Cost Leadership is the process of lowering the business costs in order to provide a product or service at a cheaper price e.g. Sourcing cheaper materials to build a quality assured product at a lower production cost the technologies which are implemented within an organisation must support its future goals.

Differentation strategies is the creation of a product which will stand out from the rest e.g. blackberry creating the ‘white’ version of their mobile handhelds.

Focus Strategies concentrates the Marketing of a product to a ‘focus group’ allowing the business to focus directly on the needs of their specific group allowing them to more accurately meet these very specific needs thus creating a much greater relationship with their customers.

Each of these strategies help to create a more profitable and reliable business. 


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