Solved by: AllAcademicHelp.com
Previous answers to this question 27: 16 7 3 0 1
Impact of IT on Business 1500 – 2000 words worth 25% HC1041 IT for Business
September 26th, 2018 by admin
FACULTY OF HIGHER EDUCATIONIndividual AssignmentHOLMES INSTITUTEFACULTY OF HIGHER EDUCATIONImpact of IT on Business1500 – 2000 words worth 25%HC1041 IT for BusinessTrimester 2 2018Date Due: Friday Week 10 by 5:00 PMMarks: Weighting 25%Student Name (Block letters) Student Number:___________________________ _____________HOLMES INSTITUTEFACULTY OFHIGHER EDUCATIONHC1041 IT for Business – Trimester 2 2018 1Individual Assignment RequirementsRead the case study and answer the following questions:1) What are the advantages and disadvantages of the new POS system?2) How will this POS system help the business gain competitive advantages?3) What are the advantages of having a centralised database?4) How could this POS system facilitate decision making?Address the following points: Why do point-of-sale systems process business activities more effectively? Can the information be tracked manually in an effective manner? Why or why not? What types of questions could be answered effectively? How could the information be used to better manage the business?5) Recommend telecommunication options for this POS systemAddress the following points: Types of networks – LAN, WAN or MAN? Types of media? –Wired or wireless technologies? Which types of cables shouldbe used for wired technologies? Which types of wireless technologies?6) What type of risks does the POS system bring and how to protect the businessagainst the risks?Address the following points: Security Privacy ConfidentialityYour report will be assessed on the quality of your research and quality of report.Discussion must be relevant to the case study business. Your report is to be in the styleof a business report.HC1041 IT for Business – Trimester 2 2018 2Case study — Blooming with TechnologyThe use of information technology is needed by every industry size and type of business.Small businesses can realize the positive effects through adopting technology. However,small businesses often do not have the resources and expertise of large corporations toimplement information technology strategies. However, the benefits of technology forsmall and medium-sized enterprises (SMEs) are just as crucial to business operations andstrategy.Consider Four Seasons Greenhouse and Nursery, located in Colorado. This small nurserywas like many other small businesses and garden centers. They used manual registers totrack and maintain its inventory as well as determine which products were realizing themost profit. The profits from the nursery were either “negligible” or a loss. They did nothave access to useful operational data to effectively manage their business. Forexample, they did not track or review the margins of individual products. However, theybelieved that they needed to do something different for their $1M business operation.Enter a new point-of-sale system (POS) in 2008. The system allowed the owners to trackuseful business data from the sales transactions immediately at the time of the sale;eliminating the need for tracking sales manually. The system processes and stores datafrom the sale while updating the inventory as well as compiling a sales history. Thiseliminates reliance on manual entry of sales transactions and reduction of inventoryunits for the items sold. POS systems provide much more than a cash register. Thesesystems provide more robust functionality in inputting, tracking, and distributing data toprovide useful information to operate and manage the business.Accurate inventory data maintained by the POS helped with decision making. Decisionson how many units of a product to order were no longer based on speculation aboutcurrent inventory units. Now, accurate inventory counts eliminate the guesswork onhow much to order, helping the business to operate on leaner inventory units. Thesystem’s reporting can provide the detail transactions for an inventory item, such as howmany were purchased, discarded, and sold.The implementation of a POS system also confirmed that the owners did not know asmuch about their business as they thought they did. As they reviewed reports from thenew system, they saw that some products were less profitable than they thought. Themore detailed cost reporting by item helped them to understand which productscontributed the most profit to the operation. Their new perspective of the “real costs”provided the opportunity to shift production to the higher-profit items, thereby gainingmore profit. Prior to implementing the POS system, they simply did not have the time toapproach this level of decision making.Knowledge of their detailed product costs helps them to price products more profitably.Price changes can be implemented temporarily (for a promotion) or permanently andstill remain within acceptable product margins. The accurate and timely reporting of thisinformation assists them to be more effective managers of their business operations.The ability of the system to process sales, inventory, and purchasing transactionsimmediately reduces the need for data entry of paper information. The time savings canbe used for managing the business rather than mundane clerical functions.The new system has expanded Four Seasons’ management control over employeeschedules to review and allocate labour expenses to specific departments and functions.An additional benefit allows the owners to delegate more responsibility to the staff andestablish accountability. Instead of the owners establishing goals, they provide theHC1041 IT for Business – Trimester 2 2018 3system’s data and ask staff to submit their sales goals for the next reporting period.Ultimately, the information technology system creates a solid infrastructure to processand report the businesses operations for the entire enterprise.The garden centre is an excellent example of how technology can realize benefits for abusiness. The ability for organizations to remain competitive and agile is crucial. Thesesystems allow organizations large and small to leverage business data to gain acompetitive advantage and operational efficiency.Source: Jones, R. (2011, May). Garden Center 2.0. Today’s Garden Center, 8, 14-16.Assessment Criteria (Individual Assignment 25%) Weighting1. Introduction:Clear statement of purpose, clarity of methods and assumptions;systematic approach to project.2. Use of resources:Application of relevant course concepts, tools and frameworks use ofevidences, engagement with the literature.3. Content: Balanced coverage of each of the important points, Richness of analysis; Flow of ideas; Validity of objectives, Use of own insight and originality; Feasibility of recommendations and implementationconsideration4. Organization and Presentation:Clarity of structure, quality of presentation, style and readability.Title page, Table of contents, List of abbreviations and/or glossary,Executive summary/abstract, Introduction, Body, ConclusionRecommendations, Bibliography, Appendices5. Citation practice:Appropriate citation of sources and evidences used.5256055
Do you need any assistance with this question?Send us your paper details nowWe’ll find the best professional writer for you!
READY TO PLACE AN ORDER