Explain Business strategy of the company ?
A business model is a conceptual description of an organization, planned for the present and future development of the organization. Business models include many levels in supply and value chains. The Value chains mainly outlines the activities that are required for creating a value from the supply where raw materials are used to manufacture a product when finished components are shipped to end-users. Companies analyze different steps in value chains to create optimal and effective business models. Every business model has its own strengths and weaknesses. The IT strategy helps the organization understand what IT speculation it needs to make and ensures that they should assign their corporate dollars to build a potential organization. The capacity of the company to use IT strategy is to better align their IT planning to support the mission of their organization which will make the company much more competitive in the market place. To apply the IT strategy the structure of Internet businesses models are needed for selecting what type of Internet business model is right for your company can involve what you want to provide the customer. There are seven commonly used models.
The advertising model is the well known model in internet business model. In this model, the website offers content free of charge, to the customer. The company can advertise about the articles, blogs of their projects or even services offered by the company. This is first stage required for getting customers know the products and services offered by the company.
Next is the brokerage internet based model. This helps the consumers to know about a product and services of the company. It also helps the buyers and the sellers to interact with each other.
Internet businesses are organized according to the merchant model that can earn revenue. The businesses operating depending to the merchant model will sell the advertising space in order to generate additional revenue.
The affiliate model is one of the most common and least financially risky models where sellers can offer discount percentage for the products and services to the consumers. Affiliate marketing helps easily to add a revenue model to a website that has to be purchased.
In the subscription model, user loyalty is an important element. Users sign up for a specific service and pay the website an agreed upon fee. Subscriptions tend to offer medium revenue potential and medium to high profit potential. Subscriptions are not common with the products and services, but at the correct point of price, the company can see higher profit. Depending on the customer usage subscriptions can generate high profits. For services that are rarely used, the cumulative subscription fees will be more than cover operating expenses. To succeed with the subscription business model, companies should concentrate on a few success factors, all centering on costs and price of product.
The utility model is a “pay-as-you-go” service provider .It is based on the idea of metered usage which used in ticketing services, where people pay for services as they are used. Resources that are based on a utility model may involve the usage of micro-payments. Micro-payments are commonly used to pay for downloads of newspaper articles.
The community model is based upon premise of users are faithful. In this model, users are not only faithful, but they have a high passionate support in the company.
Business Process Management is a rapidly emerging technology application idea with large possibility for advance working and cost savings within manufacturing organization. In most companies the Enterprise Resource Planning (ERP) system is firmly in place and the Customer Requirement Management (CRM) and supply chain applications are on line.
There are the processes of manufacturing, the accounting processes, the approval of credit, getting materials, then inspection of the processes, design of the product and so on. A business processes can be broken into smaller processes that include people and/or information system sources. Examination of how work gets done can easily be known through modern business systems. A modern BPM system is normally made up of these modules:
Process modeling: The new business process is modeled and developed through the use of graphical tools that define steps and events in the process.
Process connectors: BPM packages come with a library of software components that form the links with the new process and the various connect points of the process such as ERP systems or MES systems.
Process manager: One of the more significant impacts of a BPM system is the ability to manage processes and make changes easily and quickly. Measurement of the performance of a process to see the frequency of the process, the cycle time, and the process histories is usual.
Process life Cycle management: Provides the ability to trace the full development and history of the process.
Process system servers: This is the core system component that provides the transactional execution of the processes. “IBM, Microsoft, and SAP are significant players in this market but smaller companies “
A business process pattern represents the general view of enterprise functional areas like the sales of the organization, the corporate management and the back-office operations of the organizations. Helps to identify business outline, automation plan and enterprise applications. BPPs can be used to perform quick analysis such as the following:
In reality, one or many applications are needed to support a business process and a business process needs many number of applications like ERP. The result of this step is a table .This matrix shows which application packages (e.g., CRM from SAP) may be used to automate which business processes. This matrix plan can be even more simplified by indicating the BRODE factors like risk and cost involved
Here X indicates the choice of business process
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Business process 2 |
Business process 3 |
Business process 4 |
Business process 5 |
Business process 6 |
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Application Process 1 |
X |
X |
X |
X |
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Application Process 2 |
X |
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Application Process 3 |
X |
X |
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Application Process 4 |
X |
X |
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Application Process 5 |
X |
The Business process and application are enlisted below:
Bp1: Finance,
Bp2: Accounting,
Bp3 Purchase
Bp4: Inventory
Bp5: Production
Bp6: Sales
Application process 1: ERP (Enterprise resource planning)
Application process2: HRM (Human resource management)
Application3: CRM (Customer relationship management)
Application4: Supply chain management
Application5: Commercial of the shelf software
ERP software for manufacturing is the initially a mature process with thousands of manufacturing companies depending the ERP software to manage their whole business activities like the customer relationship management, the manufacturing of product and process, the accounting software used to calculate the products , deciding on manufacturing , buying and quality of the product or services.
Distribution companies relay on the usage of a sub-set of manufacturing ERP and other versions of ERP for service providers like the financial institutions, selling consumer goods, and other kinds of companies.
Quality ERP for any business is the software that is written for the organization and assisted by people who know the organization structure very well. Manufacturer erp s is alike but there are differences in needs due to the nature of the products, procedure and markets involved in the organization. Some ERP software solutions are developed to meet the needs of a wide variety of organizations, with the capacity to adapt to the system and better adapt to the specific vertical markets. The market leaders, SAP, Oracle and Microsoft Dynamics manufacturing are some the examples.
ERP is designed for a manufacturing excellence in an organization. With visibility throughout the operation and embedded support for a wide variety of manufacturing processes – including the stock of the product, order form of the product, engineer who orders and just-in-time manufacturing of products and materials control, and lean operations.
The reasons why the companies choose Erp is the system is more user-friendly, economical, scalable and flexible. Other important points that are considered when it comes to industry best practices is a well proven and scalable system documentation by having its own up gradation roadmap it is also a system that is easier and low of cost to maintain with readily available round the clock customer assistance.
This matrix shows which type of ERPS that are associated with the business process. Here X indicates the choice of business process
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Erp 1 |
Erp 2 |
Erp3 |
Erp4 |
Erp5 |
Erp6 |
Erp7 |
Erp8 |
Erp 9 |
Erp10 |
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Bp1 |
X |
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Bp2 |
X |
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Bp3 |
X |
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Bp4 |
X |
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Bp5 |
X |
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Bp6 |
X |
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Bp7 |
X |
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Bp8 |
X |
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Bp9 |
X |
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Bp10 |
X |
This matrix tells a fact that if a right erp is implemented it can bring more benefits to the organization. ERP can help to improve the alignment of processes with organizational strategy like reduced cost and better productivity.
Organizational success is always attached on the ability to match the right technology to the achievement of critical business goals and ensuring the employees are considered throughout the change process in order the upgrades in the technology are accepted and yield great effectiveness
The effective application of technology is a major challenge faced by all businesses, organizations .This can be particularly difficult for small to mid-size businesses that do not have the internal expertise to draw on. A successful technology implementation or upgrade process should begin by asking the right questions:
While designing a successful technology selection the enlisted process should be followed:
A requirement document can be structured list of question .It should get the data from the selected vendors. Your document should align with evaluation criteria
Common classification to consider:
This document should contain the list of requirements of the organization technology , reporting of resources needed for implementing the technology, license for testing and training number of supervisors.
Define the network, hardware and software requirements, Database required for the servers in the organization. The vendor platform requirement should include the overall project cost. If there is a need to upgrade the infrastructure of the organization or provide hardware the information requirement should also be included in this technical requirement .
It should include the enlisted categories:
24/7 support should be provided excluding the business hours. Find out who does what and what service level commitments and process are needed. Enquiry on the warranties of the products, upgrading process of the product and the release history of the product
A consideration in the above process is ensuring the needs of the business or the organization to drive the technology solution. A major warning sign for any business, organization or is a “market hyped” technology solution looking for a problem to solve.
Make the selection
The most part of choosing is building an agreement so that the stake holders own and support the final decision
The management of security is the most important idea for the success of a business as whole. The best way to define security risks is to carry out a whole company risk assessment survey to recognize the key areas of concern and control the necessary method to take to certain all of the company’s benefits.
“A security plan is essential because it ensures the resulting security system is protecting the right vulnerabilities, said David Gottlieb, director of marketing communications for Honeywell Security Group, a security equipment provider”.
Any small business should initially start by analyzing the performance of an audit to determine any vulnerability that can be caused once those vulnerabilities are recognized, the security system is planned and fixed .The security plan needs to brief how the company’s confidential data will be protected. “The No. 1 threat is not the bad guy or teenager hacking into your computer system, it is the physical loss of the machines where all of the data is stored,” said Matt Pahnke, senior manager of product marketing for the commercial business unit of NETGEAR, a networking and data-storage provider. He said there should be a clear plan for backing up data offsite, be it on a redundant drive or in the cloud.”Security plans should be flexible enough to cover internal as well as external thefts
Any security plan has to incorporate data on how to manage and secure inventory, which can be greatly helped with the use of technology.
There are five steps for creating a good security plan for the organization:
Audit: Analysis the skills and knowledge and decide whether you need any help from outside of the organization. Recognize the assets and data that need to be protected in the organization, incorporating the hardware, software, documentation and the data. Evaluate the threats and risks and maintain a prioritized list of items to be protected.
Write steps for avoiding security threats faced by the organization. Provide detailed mandate for enforcing compliance, including staff policies. Recognize who will be responsible for implementing and monitoring the plan. Make an agreement through a timetable for implementation.
Communicate with the employees in the organization. Analyze where training is necessary and carry out the plan.
Find any new threats that will occur or is occurring. Read through the security bulletins points and check if any updating or modifying the plan needs to be done, hardware or software. Carry out the ongoing maintenance task like backups or any virus updates needed.
Plan for a full review and upgrade six to twelve months after you complete the first plan or when your business goes through significant changes.
A successful security plan will include the following analysis:
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