Business Systems Flashcards
What an MIS is.
A management information system is a virtual/computerised database of financial information organised and programmed to produce regular reports on operations going on within a business.
What an MIS does.
It allows managers to give feedback on their own performance. MISs receive data from business units and functions such as computer-linked check-out counters. It can also be used to monitor and display the performance of the business’s stock.
What an MIS does not do.
Firstly, an MIS doesn’t make decisions that it left with the user to interpret the information given by the system. MISs don’t always give reasons why things are as they are, so erroneous errors can occur. Bespoke MISs can’t be easily customised or adapted for the business’s own needs.
What is a CRM?
Customer relationship management is a model for managing a business’s interactions with current and future customers.
What does CRM model include?
The model involves using technology to organise, linking sales, marketing, customer service and technical support all in one package.
What a CRM can do?
CRM systems can track and measure campaigns over different media such as email, social media, telephone and direct mail. These systems can be used to create, assign and manage customer requests to agents. Software can be used to identify and reward loyal customers over a period of time. Furthermore, CRM systems can suggest suitable appointment times to customer through e-mail. Finally, CRMs use social media to build customer relationships by using social media sites such as Twitter and Facebook to allow customer to share opinions and experiences with the business itself. This could be about the product(s) or service(s) provided and sold by the business.
Benefits of using a CRM within a business
The five benefits of using a CRM within a business are efficiency, collaboration, use of data, increased accountability and improved customer experience.
What is standard operating procedure software?
Standard operating procedures are processes documented by the business to ensure services and/or products are delivered consistently.
Limits of standard operating procedure software.
As a limit, when the business reaches a certain size, decision making can limit the growth of a business as the owner wouldn’t be able to make all the decisions properly.
Features of a SOP.
Features of a SOP are detailed audit trail, periodic review, monitoring of training records and flexible change control with configurable change request forms.
