INTRODUCTION
Small and medium enterprises (SMEs) are the enterprises which are decided by the number
of employees and or revenues they have. In the UK, sections 382 and 465 of the Companies
Act 2006 define a SME for the purpose of accounting requirements. According to this a small
company is one that has a turnover of not more than £6.5 million, a balance sheet total of
not more than £3.26 million and not more than 50 employees. A medium-sized company has
a turnover of not more than £25.9 million, a balance sheet total of not more than £12.9
million and not more than 250 employees.
If "necessity is the mother of invention," coronavirus (COVID-19) forced
the world to rethink our daily lives from work to school to entertainment.
The COVID-19 pandemic has compelled companies to embrace
technologies and systems that have accelerated the pace of digital
transformation worldwide. The pandemic had spurred firms to re-imagine
their businesses. “For many enterprises, digital three-year plans got done
in three months. The digital transformation will only accelerate from here,
with the combination of massive computing power, 5G, and AI. It’s like a
machine. The fuel for that is data; with everything becoming intelligent
and connected, the relevance of data will explode.” digital technologies
have captured our imagination for their potential to support us in the fight
against COVID-19. Before the current COVID- health, education, social and
economic crisis, the most visible uses of emerging technologies, such as
Artificial Intelligence, have been their applications in entertainment, in
increasing productivity and convenience.
. They have also allowed us to move much of our lives online, maintaining economic
and education systems when most people are staying home and helping us to
remain connected to one another.
Yet, not all regions and social groups are equally able to harness the potential of
digital technologies to combat the virus.
The digital and knowledge divides have always existed, but in a situation where
many people have to stay home, it transforms from a disadvantage to a debilitating
disability. Work is needed in the long-term to increase access to digital technologies,
and in the short-term, to ensure that lack of access does not translate into an inability
to continue daily life. As COVID-19 spread throughout countries, schools
and universities began to turn to virtual learning options. Many universities
decided to switch the rest of the semester’s work to online learning only and
some closed campuses to contain spread of the virus.
There are some K-12 institutions that are going virtual, leaving teachers and
administrators to ensure that all kids have access to the technology and
tools they need to keep learning from home. The transition to digital
education is certainly disruptive as it wasn't planned for in the timeline the
coronavirus dictated, but the educators and educational institutions will be
better prepared in the future.
BUSINESS MODEL
the individual elements THAT are used to define a business process:
Events: A trigger that starts, modifies or completes a process. Event types include
message, timer, error, compensation, signal, cancel, escalation, link and others. They
are shown by circles containing other symbols based on event type. They are
classified as either “throwing” or “catching,” depending on their function.
picture
Activity
A particular activity or task performed by a person or system. It’s shown by a
rectangle with rounded corners. They can become more detailed with sub-processes,
loops, compensations and multiple instances.
The technological and business challenges of covid-19 pandemic affecting the digital are
remote work- Remote working is increasing as a means of practising social distancing during
the COVID-19 pandemic; Omni channel Commerce-It is a multichannel approach to sales
that focus on providing seamless customer experience whether the client is shopping online
from a mobile device or a laptop; health and security- A health crisis will always bring
changes to our everyday lives, especially when it has such a far-reaching impact; Distribution
channels- The new business context amid the pandemic forced practically all businesses to
reinvent themselves in some way to stay afloat; Customers demand- This is a challenge that
businesses reliant on physical stores are surely noticing the most, but that doesn't mean
other companies are free from their influence; Communication and collaboration -For a
digital transformation, that implies you'll need even more emphasis on communication and
collaboration tools to bridge the gaps between your in-house and remote team,
Platformification, etc. The challenges faced by TCB during the pandemic are the goals they
have to take to transform their organisation.
Management Information Systems is mostly concerned with internal sources of
information. These systems usually take data from the transaction processing systems and
summarise it into a series of management reports. MIS is an information system that generates
exact, timely and structured information so managers and other users can make decisions,
resolve problems, supervise activities, and track progress. For example, complied data of call
volume in a call centre with abandon % and call service levels for every hour, every day and
monthly summary.
In today’s continuously changing and fast moving world, where customers’ requirements and
preferences are always evolving, the only businesses that can hope to remain competitive and
continue to function at the performance levels that can match their customers’ expectations are
those that are going to embrace innovation. In the recent past, any business success has been
pegged on the information technology quality that the business has employed and the capability to
correctly use such information.
Information systems (IS) importance has increased dramatically, and most businesses
have been prompted to introduce it to keep their competitive edge. Today, nobody can
envisage a business without an effective information system. Introduction of an
information system to a business can bring numerous benefits and assist in the way the
business handles its external and internal processes that a business encounters daily
and decision making for the future. Some of the benefits of an information system
New Products and Services, Information Storage, Easier Decision
include:
Making, Behavioral Change
Research and feasibility study
Technological transformations are crucial when introducing new emerging technologies into
companies. Among areas being explored; the role that technologies play in the firm to achieve
strategic goals. This can be divided into an enabling role for new business opportunities or merely
supportive one to fulfil current business requirements. It is closely related company’s attitude
towards new technologies and its ability to exploit them for future business goals. Firms usually fall
into two broad categories: they either adopt established and widely used technology solutions and
act as market followers or become the market leaders by innovating and introducing new
technological solutions to the market. Numeric strategic decisions have to be taken in relation to
changes in the interaction with customers. Companies are encouraged to investigate potentially new
benefits created in their customer experience through digitally enhanced changes to customer
journey. This can be achieved by exploring all customer touch points and integrating the companies
interactions across various digital, as well as physical platforms. Transforming the customer
experience can also be accomplished through the introduction of digitally enhanced products and
services.
Technological decisions are
crucial when introducing new
emerging technologies into
companies. Among areas
being explored here is the
role that technologies play in
the
firm to achieve strategic goals.
This can be divided into an
enabling role for new business
opportunities or a merely
supportive one to fulfill
current business requirements.
Closely
related to that is a company’s
attitude towards new
technologies and its ability to
exploit
them for future business
goals. Firms usually fall into
two broad categories: they
either
adopt established and widely
used technology solutions
and act as market followers
or
become the market leaders by
innovating and introducing
new technology solutions to
the markets (Hess et al.
2016; Matt et al. 2014).
This stems from investments
in their
capabilities to conceptualize
how digital technologies can
impact their business (Kane et
Business
Managerial Organizational Structural
Operational
Technological
Digital Transformation Strategy Content
Business Level Content
to compete in the business
Functional Level Content
to contribute to the competitive
advantage of the business
Customers
!
17
Technological decisions are
crucial when introducing new
emerging technologies into
companies. Among areas
being explored here is the
role that technologies play in
the
firm to achieve strategic goals.
This can be divided into an
enabling role for new business
opportunities or a merely
supportive one to fulfill
current business requirements.
Closely
related to that is a company’s
attitude towards new
technologies and its ability to
exploit
them for future business
goals. Firms usually fall into
two broad categories: they
either
adopt established and widely
used technology solutions
and act as market followers
or
become the market leaders by
innovating and introducing
new technology solutions to
the markets (Hess et al.
2016; Matt et al. 2014).
This stems from investments
in their
capabilities to conceptualize
how digital technologies can
impact their business (Kane et
Business
Managerial Organizational Structural
Operational
Technological
Digital Transformation Strategy Content
Business Level Content
to compete in the business
Functional Level Content
to contribute to the competitive
advantage of the business
Customers
!
17
Technological decisions are
crucial when introducing new
emerging technologies into
companies. Among areas
being explored here is the
role that technologies play in
the
firm to achieve strategic goals.
This can be divided into an
enabling role for new business
opportunities or a merely
supportive one to fulfill
current business requirements.
Closely
related to that is a company’s
attitude towards new
technologies and its ability to
exploit
them for future business
goals. Firms usually fall into
two broad categories: they
either
adopt established and widely
used technology solutions
and act as market followers
or
become the market leaders by
innovating and introducing
new technology solutions to
the markets (Hess et al.
2016; Matt et al. 2014).
This stems from investments
in their
capabilities to conceptualize
how digital technologies can
impact their business (Kane et
Business
Managerial Organizational Structural
Operational
Technological
Digital Transformation Strategy Content
Business Level Content
to compete in the business
Functional Level Content
to contribute to the competitive
advantage of the business
Customers
!
17
Digital transformation is the integration of digital technology into all areas of a business in
order to change how they operate and how they deliver value to their customers. It’s a
cultural change that requires organizations to continually challenge their existing conditions
and think out of the box. Some definitions focus on what businesses expect to achieve while
other highlight elements such as innovation, digitisation of assets and an increased use of
technology. Digital transformation should include an information logistics system able to
collect, analyse and report data and react in response if required. The ability to respond is
essential to optimize business operations and it requires different tools and technologies.
ERP stands for Enterprise Resource Planning. Essentially, ERP software exists to
integrate core processes and data within a company.
ERP software can be classified into the following types.
Generalist ERP: - Many cloud-fast and legacy ERP software solutions are
generalists. These software solutions get adapted to diverse processes across
industries. They can be customised and integrated to match the varying
requirements of the industries.
Vertical ERP: - Often, the vertical ERP vendors are the startups or the small-
level companies that are trying to focus on a niche like a supermarket,
construction, retail, trading, distribution, or manufacturing.
Small business ERP: - These are the on-premise or off-the-shelf cloud ERP
solutions. Instead of delivering fully-integrated systems, the small-business ERP
solutions serve one or two business operations, leaving out the rest. For
instance, a small business ERP features accounting and HRM function only, with
a few more add-on options such as inventory, supply chain, or CRM. For this
reason, these software systems are also termed as lightweight ERP solutions.
Open source ERP: - Open-source ERP solutions are highly customisable,
easily accessible, and can be used at any time and from anywhere, as per the
business requirements. These are much affordable as well.
Industry-specific ERP: - These ERP solutions are the ones that are designed
particularly for one specific industry, for example manufacturing ERP that is
made only to manage the processes of the manufacturing industry.
Web-based ERP: - A web-based ERP solution is simple the software system,
which is delivered over the internet. This software system is actually accessed
within the web browsers. The database and web applications can be located
on-premise at the business’s facility or else it can also reside in the data centre
of the third party.
ERP software
Advantages disadvantages
Streamline work flows Slow software
implementation
Better financial planning Expensive to start
Improved data security and Slow data migration
accessibility
Improved communication Too complexs
Implementation of an ERP system
Companies should be aware of the importance of through preparation and
introduction to the enterprise resource planning system for their business success.
The following phase model of the ERP introduction in 8 steps is provided by
Software Lotse and assumes that a suitable provider has already been selected.
Software Lotse recommends that you first draw up plans based on the individual
targets for Enterprise Resource Planning (ERP), which also include time and cost
plans. The desired system solution can then be introduced step by step. This should
be possible without detours, while always maintaining the flexibility and freedom
from disturbances of the real operation. It is worthwhile to proceed in clearly
distinguishable steps.
Step 1: Specifications. The specifications briefly and concisely reflect the needs
and wishes of individual departments and are compiled by them individually.
Step 2: Requirements. Together with representatives of the departments, the
provider clarifies in workshops to what extent the specifications can be
implemented. This is how the requirements are specified.
Step 3: Installation of a test system. Employees can familiarize themselves with
Enterprise Resource Planning (ERP) by using a test system. It is advisable to use
company test data that already exists.
Step 4: Set-up of the ERP system. The ERP system is set up and adapted to the
company’s needs. Decisions determined by the specifications are now being
implemented.
Step 5: Data preparation for the implementation. Master data and other data
from the old system is prepared for the Enterprise Resource Planning system and
cleaned up in the meantime.
Step 6: Training and documentation. The users of the company should receive
extensive training so that they can benefit from best possible know-how. It is
recommended to motivate these users to create their own documentation.
Step 7: Data import. The data prepared and cleaned in step 5 is imported into the
new system.
Step 8: Live operation. The old system is shut down.
Running a successful business calls for proper management of financial and organizational data
and statistics with quality information systems. Almost every company has experienced a
drastically slowed workflow because of data problems related to reliability and accuracy. It’s true
that there is no substitute for right information at the right time in the business world.
This prompted the development of systems that can be used to make the information accurate,
readily available, and easily accessible. With the effectiveness of information systems, an
organization can have better decision-making, better planning, and ultimately better results.
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The COVID-19 pandemic isn’t stopping businesses that have embraced the new state of
work. Through the power of cloud ERP technology, they’ve ensured business continuity,
which means they are accessing their business systems from anywhere (at any time),
working in isolation without being isolated, safeguarding the security of their cloud data,
and even thriving in an unsettled time.
Enabling a remote enterprise that technology is making the remote
transition possible, citing the improvements to and accessibility of powerful
laptops, low-cost monitors, high resolution cameras, and SaaS-based
communication and collaboration tools, as well as hybrid computing, cloud
file storage, high-speed networking, and endpoint security systems. She
also explains that modern cloud ERP software, like Acumatica, provides
the remote access every business needs to be a connected business in
this time of crisis and beyond.
cloud-based ERP solution can ease your evolution into a remote-based
organization. It is a fully integrated, user-friendly business management
solution with the service commitment and telecommuting
capabilities businesses need in today’s uncertain environment. Acumatica
rests on a flexible, open platform designed from the ground up to give
users easy access to third-party applications, scalability, security, and the
confidence they’ll be able to continue operating during the COVID-19
pandemic and beyond.
Maintaining an efficient operation when employees are isolated in their
homes, (perhaps learning how to work remotely for the first time) is critical,
but it can be a major challenge. Thankfully, cloud-based technology
provides 24/7 mobile access, allowing you and your team to manage your
business without disruption from any location. Generate reports, track
profitability, and manage customer relationships from right where you are.
This includes managing financials virtually, which helps you keep a finger on
your business’ day-to-day performance and provides the insights you need
to make informed decisions based on accurate, real-time data.
Interestingly—but not surprisingly—businesses are re-evaluating their work
processes in light of this crisis. The urgent need to work digitally is causing
them to prioritize digital transformation, spurring 73% of IT managers to
either keep or move up their digital transformation plans. It’s the right move.
They will reap the benefits of using cloud-based technology, which include
lower costs (no need to invest in hardware and IT), improved
competitiveness, increased job opportunities, and a future-proofed
business management solution.
Evaluation within case
Implementation of an ERP system
Companies should be aware of the importance of through preparation and
introduction to the enterprise resource planning system for their business success.
The following phase model of the ERP introduction in 8 steps is provided by
Software Lotse and assumes that a suitable provider has already been selected.
Software Lotse recommends that you first draw up plans based on the individual
targets for Enterprise Resource Planning (ERP), which also include time and cost
plans. The desired system solution can then be introduced step by step. This should
be possible without detours, while always maintaining the flexibility and freedom
from disturbances of the real operation. It is worthwhile to proceed in clearly
distinguishable steps.
Step 1: Specifications. The specifications briefly and concisely reflect the needs
and wishes of individual departments and are compiled by them individually.
Step 2: Requirements. Together with representatives of the departments, the
provider clarifies in workshops to what extent the specifications can be
implemented. This is how the requirements are specified.
Step 3: Installation of a test system. Employees can familiarize themselves with
Enterprise Resource Planning (ERP) by using a test system. It is advisable to use
company test data that already exists.
Step 4: Set-up of the ERP system. The ERP system is set up and adapted to the
company’s needs. Decisions determined by the specifications are now being
implemented.
Step 5: Data preparation for the implementation. Master data and other data
from the old system is prepared for the Enterprise Resource Planning system and
cleaned up in the meantime.
Step 6: Training and documentation. The users of the company should receive
extensive training so that they can benefit from best possible know-how. It is
recommended to motivate these users to create their own documentation.
Step 7: Data import. The data prepared and cleaned in step 5 is imported into the
new system.
Step 8: Live operation. The old system is shut down.
Business process modelling notation
BPMN is a graphical representation of your business process using
standard objects. If you want to get more technical It can also be defined as
a set of graphical objects and rules defining available connections between
the objects.
BPMN consists of the following basic building blocks;
Flow objects: events (circles), activities (rectangles with rounded
corners), and gateways (diamonds)
Connecting objects: mainly comprising arrows, these indicate
sequence flow (filled arrows), message flow (dashed arrows), and
associations
Swim lanes: pools (graphic container) and lanes (sub-partition of the
pool)
Artifacts: data objects, groups, and annotations
The biggest advantage of BPMN is that it’s a standard with well-defined
syntax. So many business analysts are familiar with it which makes
collaboration much easier. Also, most modeling tools support BPMN which
makes it much easier to share and edit if even using different software. All
these together makes BPMN the most popular business process
modeling technique at the moment
BPMN is a method to setup a system to execute a workflow, assign tasks,
automate system integration, all based on a human readable diagram. BPMN
is great to orchestrate systems, machines, and people to achieve a better
outcome for the business. Key processes can be automated while keeping the
people who execute the tasks connected and empowered.
A streamlined and efficient workforce helps businesses better respond to
increasing consumer demand for transparency and improved services. By
automating part of the repetitive tasks, staff have the ability to focus on
improvements and value-adding tasks.
If i were being asked, the name I would suggest for this recently rebranded enterprise is
open pathshala, that includes the selling of secondary and tertiary level books/products.
List at least ten (10) major changes that have taken place within the Enterprise (this can be done in
numerical or bullet-point format). Highlight two of these changes that have directly occurred as a
result of the Covid-19 pandemic.
1) Instant Communication
2) Content Overload
3) Droves of Data
4)Demands Transparency
5) Fosters Intimacy
6) A New Breed of Influencers
7) Playing Catch-Up
8) Encourage Innovation
9) Made Brands More Human
10) new services ,products, processes & skills
Droves of data
Modern technology allows marketers to gain a tremendous amount of
knowledge about their customers. However, companies need to know how,
where and when to use that data. Some of the best ways to achieve this
are:
Knowing which metrics are most important to company success – the
key to getting impact from data is knowing what your organization
wants to get from it. The key is to be very specific about what the
business outcomes are and build that into how the data is measured
and how it impacts on the wider business.
Knowing which customer channels are going to pay off – the array of
technologies and channels is such that a brand needs to focus on the
ones that their customer engage with in a meaningful way. Likes and
comments may seem important but what really matters is
engagement that builds a relationship between a customer and a
brand.
Having employees with the analytic skills to process data – all the
data in the world is useless without the skills in-house to know what
to do with it. Insights from data are what can drive a business and
help them understand the behavior and pain points of a consumer.
Creating content that is personalized and customer focused – The
colossal amount of data in cyberspace makes it hard for any brand to
make a real impact. The key is knowing who the target audience is
and creating content that grabs their attention and encourages them
to engage.
Playing Catch-Up
Digital technology changes at an incredibly fast pace; often overnight.
Relentless in its pace, these changes require employees across
departments to be agile, work collaboratively and most importantly keep up
to date with development so they have the skills to adapt and use these
changes to the company's advantage.
Continuing education provided as and when employees need it is a great
way to achieve this. By upskilling a workforce in the latest and most
relevant technologies, strategies and techniques, employees can be
proactive in knowing what is coming down the line and understand how
their brand can use these changes to their advantage.
Take IBM as an example. Acutely aware of the changing landscape they
introduced a digital selling pilot program that transformed their traditional
sales team into digital sellers. The pilot proved so successful that it has
now been rolled out on a global scale to transform the selling capabilities of
its staff, drive revenue and improve its mindshare and status across online
networks.
In essence, to achieve digital success, businesses across industries need
to be aware of the pace of change and invest in learning and development
initiatives that ensure their workforce are on the cutting edge of digital
marketing and selling tactics.
