Papar of MIS 2009 Question 1

Internet economy
Ghosh (1998) states that businesses cannot avoid the internet economy. They must recognize and understand that there are both global opportunities available as well as risks of not participating. They note that through the internet, any participant in a value chain can usurp the role of any other participant. Due to the enormous quantity of connected users, the incredible speed that information travels, and the irrelevance of distance, firms can offer goods and services not locally, but to potential customers across the entire globe. As stated by Gregory Mankiw (2003) Advances in information technology, such as the Internet, have been profound and have influenced many parts of the economy. As an example of a business segment which can dramatically benefit from this new Internet economy is a university. Besides being able to provide education to on-campus students, it is now possible to provide online classes across the world, using streaming media technology to deliver the very same class to anyone plugged to the Internet, with lower costs.

Electronic business
From Wikipedia, the free encyclopedia

Jump to: navigation, search Electronic business, commonly referred to as "eBusiness" or "e-business", or an internet business, is the application of information and communication technologies (ICT) in support of all the activities of business. Commerce constitutes the exchange of products and services between businesses, groups and individuals and can be seen as one of the essential activities of any business. Electronic commerce focuses on the use of ICT to enable the external activities and relationships of the business with individuals, groups and other businesses.[1] The term "e-business" was coined by IBM's marketing and Internet teams in 1996.[2][3] Electronic business methods enable companies to link their internal and external data processing systems more efficiently and flexibly, to work more closely with suppliers and partners, and to better satisfy the needs and expectations of their customers. B2B (Business to Business) The term refers to a site of a company turned to other companies, usually partners or customers. The possible applications are manifold: ordering, inventory consultations, assistance and support. The benefits stem mainly supply chain allowing a savings in money and time. B2C (Business to Consumer)

Activities addressed by companies to consumers. The most common ecommerce (sales-purchase via the internet) but can also be considered B2C product support and assistance in kind. In this case, the benefit for the company lies in lowering costs as well as in an indirect gain in terms of image. B2E (Business to Employees) In this model, the company provides information, services and / or products to its employees. The benefit for the company is indirect and comes from better dissemination of company culture. Backbone Backbone or just the backbone of the Internet or the network of cables for transmitting high-speed data that connects the main server in the various nations of the world. Backbone is the main features of the stream of data moving through the Internet from these secondary branches and capillaries supplying information to the homes and offices. B2G (Business to Government) Offering information, support and services given by companies to government institutions

Question 2

Marketplaces and street markets

A marketplace is a location where goods and services are exchanged. The traditional market square is a city square where traders set up stalls and buyers browse the merchandise. This kind of market is very old, and countless such markets are still in operation around the whole world.

What's a virtual marketplace?

Well, a virtual marketplace is akin to an actual marketplace - a venue where vendors and customers get together. The only thing is that this marketplace is on the web. A good example is a dating website. Much like a singles bar in the real world, a dating website is a place where people looking for dates and mates can go, except that the initial meetings are done online. Some years ago, these dating websites were proliferating. To be sure, there are still a good number around but not as many as before.

Welcome to an exciting online shopping experience! Virtual Market Place was created to give shoppers an opportunity to explore new, inventive and unique products for purchase at the touch of a finger. Visit all categories for special products at special prices. We welcome any input or suggestions. Please be sure to read the "Terms of Service" section before venturing on. Have a great shopping experience!

Value chain
From Wikipedia, the free encyclopedia

Jump to: navigation, search Popular Visualization The value chain is a concept from business management that was first described and popularized by Michael Porter in his 1985 bestseller,

Question .3

What Is Supply Chain Management?

Supply chain management is the range of processes that manage the flow of goods and services, information and dollars between suppliers and customers, as well as the infrastructure needed to enable this flow. As shown in Figure 1, the supply chain can be divided into four core areas: Plan; Source and Procure; Move; and Pay, and three groups of supporting infrastructure: Structure and Staffing; Tools and Processes; and Organizational Alignment. Figure 1: The seven-part supply chain model

Supply Chain Excellence

The Working Groups Vision: Contributing to the highest standard of patient care through comprehensive supply chain excellence. Putting this vision into practice calls for organizations to understand what defines supply chain excellence. Operationally excellent organizations continually refine their processes using an integrated approach. This includes:

Operating Standards: developing and maintaining documented workflows and processes; Performance Metrics: implementing metrics that capture supply chain performance and measuring to track and report progress; Leading Practices: identifying and adopting leading practices; Technology and Automation: investing in technology to automate routine aspects of processes and capture transactional data at point of activity; and Skilled Staff: investing in skilled supply chain staff.

Question Applications of Strategic Cost Management: There are three basic business areas where strategic cost management can be applied. Strategy: A strategy in general terms refers to a plan of action that will shape the direction of organization's success. Companies of late have realized the importance of

clear articulation of strategy and its effective implementation. Before formulating any strategy, the management should think about the business model whether it is still relevant or need to be changed? Or whether the objectives of the business are going to be accomplished through laid out strategy.

Operations: By setting the priorities according to its significance we can operate the tasks effectively and efficiently. Organization: Company should time and again check whether it is allocating its limited resources in the businesses which generate more value for the entire organization. Resources as such are the liming factors for any organization and that's why the company should be focus on the structure of the business and it should decide well in advance whether it should own all resources or not? Strategic Cost management framework: The Strategic cost management framework provides a clear plan of attack for addressing costs and decisions that affect them. Following are the three core components of this framework.

Core Functions: Core functions elaborate on the nature of the business. It answers the very obvious question what type of business are we in? At this stage the company has to clearly identify its courses of actions with respect to strategy planning, research and development, and product development. Customer Delivery Function: This step emphasizes more on value addition with various activities such as marketing, sales, manufacturing, quality assurance and control, sourcing, procurement and logistics, engineering and maintenance, customer service and

technical support etc. Excellence in those activities can create a sort of competitive advantage for the company if it could harness its resources intelligently than its competitors. Support Functions: As the name suggests, to support the core activities of business some secondary activities are to be carried out which includes IT, Finance and Accounting, HR management General administration. These activities will facilitate the performance of the core activities in a way that goals of the business can be accomplished successfully without wasting limited resources. They will also help in synchronizing the different tasks which are to be carried out simultaneously.

Question 5

Economy
. An economy consists of the economic systems of a country or other area; the labor, capital and land resources; and the manufacturing, production, trade, distribution, and consumption of goods and services of that area. A given economy is the result of a process that involves its technological evolution, history and social organization, as well as its geography, natural resource endowment, and ecology, as main factors. These factors give context, content, and set the conditions and parameters in which an economy functions.

Layers of the Internet Economy

Question 6 Organizational culture is the collective behaviour of humans that are part of an organization, it is also formed by the organization values, visions, norms, working language, systems, and symbols, it includes beliefs and habits.[1] It is also the pattern of such collective behaviours and assumptions that are taught to new organizational members as a way of perceiving, and even thinking and feeling.[2] Organizational culture affects the way people and groups interact with each other, with clients, and with stakeholders. [3]

Question 8

Enterprise resource planning (ERP) systems integrate internal and external

management information across an entire organization, embracing finance/accounting, manufacturing, sales and service, customer relationship management, etc. ERP systems automate this activity with an integrated software application. Their purpose is to facilitate the flow of information between all business functions inside the boundaries of the organization and manage the connections to outside stakeholders.[1] ERP systems can run on a variety of computer hardware and network configurations, typically employing a database as a repository for information.[2] The above steps are grouped and sub-divided into four major phases namely 1)detailed discussions, 2) Design & Customisation, 3) Implementation and 4) Production. The phases of implementation vis-a-vis their tasks and respective deliverables are as below: Detailed Discussion Phase: Task :- Project initialization, Evaluation of current processes, business practices, Set-up project organization Deliverables:- Accepted norms and Conditions, Project Organisation chart, Identity work teams Design and customisation Phase: Task :- Map organisation, Map business process, Define functions and processes, ERP software configuration and Build ERP system modifications. Deliverables :- Organisation structure, Design specification, Process Flow Diagrams, Function Model, Configuration recording and system modification. Implementation Phase: Task :- Create go-live plan and documentation, Integrate applications, Test the ERP customisation, Train users Deliverables :- Testing environment report, Customisation Test Report and Implementation report Production Phase: Task:- Run Trial Production, Maintain Systems Deliverables:- Reconciliation reports, Conversion Plan Execution