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BA_1530 > C4. Key Systems for the Digital Business > Flashcards

C4. Key Systems for the Digital Business Flashcards

1
Q

What are the outcomes of Key Systems Capsule?

A

Assess the role of enterprise applications (ERP, CRM and SCM) in today’s digital enterprise;
Explain the unique features of e-commerce/m-commerce, digital markets and digital goods;
Explain how the evolving web continues to develop;
Evaluate the use of knowledge management systems in business.

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2
Q

What are ERP systems?

A 
Suite of integrated software modules and a common central database.
Collects data from many divisions of firm for use in nearly all of internal activities.
Info entered for any purpose in any module is instantly available for other processes too.
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3
Q

Business Value of ERP software?

A

Increase ops. Efficiency.
Firmwide information to support decision making.
Enable rapid responses to customer requests for information or products.
Include analytical tools to evaluate overall org performance.

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4
Q

What is a Supply Chain?

A

Network of organizations and processes for:
Producing raw materials.
Transforming them into products
Distributing the products

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5
Q

Just-in-time Strategy?

A

Components would arrive exactly at the moment they were needed, and finished goods would be shipped as they left the assembly line.

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6
Q

Bullwhip Effect?

A

Information about the demand for a product gets distorted as it passes from one entity to the next across the supply chain.

Safety stock buffer for lack of flexibility in the supply chain is needed.

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7
Q

What is SCM?

A

Supply Chain Management - Software.

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8
Q

Functions of SC Planning?

A 
Model the existing supply chain
Demand planning
Optimize sourcing, manufacturing plans
Establish inventory levels
Identify transport modes
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9
Q

Functions of SC Execution?

A

Manage flow of products through distribution centers and warehouses
Storage management
Transport management
Manufacturing execution global trade management.

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10
Q

SCM benefits?

A

SCM systems facilitate a more efficient customer response.

Allow the workings of the business to be driven more by customer demand.

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11
Q

Pull-based model?

A
  • Web-based.
  • Customers orders trigger events in the supply chain.
  • Internet enables concurrent SC as opposed to Sequential SC.
  • Complex supplier networks can adjust almost immediately.
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12
Q

Business value of SCM systems?

A
  • Match supply to demand.
  • Reduce inventory levels.
  • Improve delivery service
  • Faster product time to market.
  • More efficient use of assets.
  • Reduced SC costs - more profitability.
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13
Q

What is CRM?

A

Customer Relationship Management System.

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14
Q

Purpose of CRM?

A

Knowing the customer.

Large firms - too many customers and varied interactions.

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15
Q

Functions of CRM software?

A
  • Capture and integrate customer data from whole org.
  • Consolidate + analyze data
  • Distribute and make customer data available firm wide.
  • Provide one single enterprise view of customer.
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16
Q

CRM systems usually include what tools?

A

SFA

Customer service modules

Marketing

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17
Q

Additional CRM capabilities?

A

Partnership relationship management.

Employee relationship management.

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18
Q

Partnership relationship management?

A

Are a reflection of internal customer relationship management systems but extend past the immediate borders of a firm to its selling partners.

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19
Q

Employee relationship management?

A

Modules associated with CRM focus more on how employees perform and interact with customers. These modules help a company manage:

Employee objectives
Employee performance
Performance-based compensation
Employee training

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20
Q

What is Operational CRM?

A 
Improve Business Operations.
Customer facing apps
Sales force automation
Call center and customer service support
Marketing automation
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21
Q

What is Analytical CRM?

A

Improves Business Performance.
Pulls data from DW populated by CRM systems.
Analyzes customer data, OLAP, data mining.

22
Q

Business value of CRM?

A 
Increased customer satisfaction.
Reduced direct-marketing costs.
Effective marketing.
Lower cost for customer retention/acquisition.
Increased sales.
23
Q

What is Churn Rate?

A

Number of customers who stop using a product or service.

Indicator of customer base growth or decline.

24
Q

What are the expectation of next-gen. CRM systems?

A

More flexible, web-enabled, integrated with other systems.
On demand solutions.
Cloud based.
Mobile platforms.

25
Q

Example of a prominent CRM system?

A

SAP, which combines key applications in finance, logistics, and procurement, and human resources administration into a core ERP component.

26
Q

What will the applications of a next-gen. Enterprise be?

A

Social CRM.

Business Intelligence in Enterprise Applications.

27
Q

Social CRM?

A

The new technology provides a way for organizations to uncover sales leads and identify customer support issues through SM sites.

28
Q

Business Intelligence in Enterprise Applications?

A
  • Being able to generate ad hoc analyses, use interactive dashboards, ask “what-if” questions and take advantage of data visualization tools are becoming more important than ever to system users and executives.
  • They don’t want to have to leave one system and move to another in order to use these business intelligence tools.
29
Q

Ongoing challanges of Enterprise Applications?

A
  • Expensive to Purchase and Implement.
  • Tech changes.
  • Business process changes.
  • Organization learning.
  • Standardize and cleanse data.
30
Q

What is E-Commerce?

A
  • Is the use of the internet and the web to transact business.
  • Started off in 1995.
  • Is now social, mobile, local.
31
Q

How is E-Commerce different?

A
  • Ubiquity
  • Global reach
  • Universal standards
  • Richness
  • Interactivity
  • Information density
  • Personalization
  • Social technology
32
Q

Key Concepts of E-Commerce?

A
  • Internet and digital markets have changed the way companies conduct business.
  • Information asymmetry reduced.
  • Dynamic pricing.
  • Delayed gratification.
  • Disintermediation.
33
Q

What are digital goods?

A
  • Those that can be delivered over a digital network.
  • Cost of delivery over the internet very low.
  • Marketing costs remain the same, pricing highly variable based on demand.
  • Industries with digital goods are undergoing revolt. Changes.

Some digital services are not owned, only rented for a time and available for as long as the offering business stays in business.

34
Q

Types of E-commerce?

A
  • B2C
  • B2B
  • C2C
  • M-commerce - mobile commerce.
35
Q

E-Commerce Business Model?

A
  • Portal e-tailer
  • Content provider
  • Transaction broker
  • Market creator
  • Service provider
  • Community provider
36
Q

E-Commerce Revenue Model?

A
  • Advert
  • Sales
  • Subscr.
  • Free/Freemium
  • Transaction fee
  • Affiliate
37
Q

Click-and-mortar?

A
  • A click-and-mortar business model is based on investing in both a physical and online presence.
  • Click and mortar models are becoming increasingly popular as consumers seek to buy products online and off and to examine products offline before buying them online.
  • Online only retailers can increase traffic by adding physical storefronts; storefronts can expand their customer base and geographic reach by adding an eCommerce store.
38
Q

Social E-Commerce?

A

Is based on a digial social graph.

Social media users are heavily influenced by recommendations and influencers on social media which encourage them to purchase.

39
Q

E-Commerce Marketing?

A

Marketers are looking to analyze blog content, and content from chat rooms and message boards because it allows them to create unique personalized web pages that display content or ads for products or services of special interest to individual users, improving the customer experience and creating additional value.

40
Q

Types of E-Commerce Marketing?

A
  • Long tail marketing.
  • Behavioral targeting
  • Programmatic advert buying
  • Native advertising
  • Social network marketing
  • Wisdom of crowds
  • Crowdsourcing.
41
Q

B2B transactions?

A
  • The Internet and web technology enable businesses to create new electronic storefronts for selling to other businesses with multimedia graphic displays and interactive features similar to those for B2C commerce.
  • Alternatively, businesses can use Internet technology to create extranets or electronic marketplaces for linking to other businesses for purchase and sale transactions.
42
Q

M-Commerce, what is it?

A
  • M-commerce is the use of wireless mobile devices for purchasing goods and services and it is a huge area of growth.
  • How often do you purchase goods and services on your smartphone, tablet or iPad?
  • Location-based services and applications are used by a large proportion of smartphone users. Based on GPS map services they enable people to find out what is close to where they are: friends, shops, and so on.
43
Q

How do you build E-commerce presence?

A

Important management challenges:
• Clear understanding of business objectives.
• Choose right tech to achieve those objectives.

Develop and E-commerce map:
• Websites
• E-mail
• Social media
• Offline media

Develop a timeline - milestones.

44
Q

On KMS and what are they?

A
  • Are among the fastest growing areas of software investment.
  • Knowledge information workers contribute to 55% of USA GDP.
  • Substantial part of a firm’s stock market value is related to intangible assets (knowledge, brands)
  • Well-executed knowledge-based projects can produce extraordinary ROI.
45
Q

What is IC and what types are there?

A
  • Collective knowledge of all the people in an organization that can be productively used to take action.
  • In many cases, it is the one asset that truly distinguishes a successful company from its competitors.
  • Human Capital - competencies, knowledge of employees.
  • Structural Capital - processes, procedures, transactions, patents.
  • Social Capital - relationships, clients, customers, prospective clients.
46
Q

What are the dimensions of Knowledge?

A
  • Data, knowledge, and wisdom.
  • Tacit knowledge and explicit knowledge
Dimensions:
• Knowledge is a firm asset
• Knowledge has different forms
• Knowledge has location
• Knowledge is situational
47
Q

What is KM value chain?

A
  • Knowledge management (KM) refers to a set of strategies and practices organizations use to become more systematic about managing intellectual capital.
  • Knowledge management today involves both information systems activities and a host systems that enable management and organizational activities.
48
Q

Components of Enterprise-wide KM System?

A

Content management
Capture, store, retrieve, distribute and preserve

Digital Asset Management
Manage unstructured data

Knowledge network
Online directory of corporate experts in knowledge domains.

Collab tools/Enterprise Social Networks
Social bookmarking, tag with certain situational keywords.

LMS
Management, delivery and tracking of various employee training.

49
Q

Who are Knowledge Workers and what are their activities?

A

Research, design, architect, scientist, people who create knowledge for the organization.

  • Keep org current in knowledge.
  • Serving as internal consultants regarding their areas of expertise
  • Change agents, evaluating, initiating and promoting change projects.
50
Q

What is a Knowledge Work System? examples?

A

Systems that help create new knowledge and integrate it into business.

  • Graphic tools
  • Analytical tools
  • Comms tools
  • Document management
  • User friendly interface
51
Q

Intelligent Techniques for Knowledge Management?

A

Are used to capture individual and collective knowledge and to extend its base to:

  • Capture tacit knowledge
  • Knowledge discovery
  • Generate solutions to complex problems
52
Q

What role does AI play in Knowledge Systems?

A

A computer-based system that emulates human behavior.

BA_1530 (7 decks)

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