Chapter 4 Flashcards
What is Enterprise Resource Planning (ERP)?
integrates all departments and functions throughout an organization into a single IT system (or integrated set of IT systems) so that employees can make enterprise-wide decisions by viewing enterprise-wide information on all business operations
Reasons ERP Systems Are Powerful Organizational Tools:
- solution to the mess of incompatible applications
- addresses the need for global information sharing and reporting
- avoid the pain and expense of fixing legacy systems
What is innovation?
Innovation is the introduction of new equipment and methods. The current impetus to innovate comes from the need to cut costs, while still creating a competitive advantage.
What are the 6 best practices of innovation?
1) Find your relevant edge
2) Assemble innovation hothouses
3) Reward risk takers
4) Celebrate Diversity
5) Look Around
6) Mix Practitioners and Developers
What are SRM, PRM and ERM?
Supplier Relationship Management (SRM) focuses on keeping suppliers satisfied by evaluating and categorizing suppliers for different projects.
Partner Relationship Management (PRM) focuses on keeping vendors satisfied by managing alliance partner, dealer, retailer, and reseller relationships that provide customers with an optimal sales channel.
Employee Relationship Management (ERM) is a management activity that focuses on managing an organization’s relationships with its employees.
What do ERP systems do? Why is it important?
ERP systems help companies operate more efficiently and effectively by combining all of an organization’s operational data into one central core information system. In the past, operational data were not easily shared between different departments or business units in the same organization. This resulted in silos of data across the enterprise, which often led to discrepancies and inconsistencies in the data between different departments or business units. ERP systems were the solution to this problem. ERP systems allow the integration of all a company’s internal daily operational processes into a single information system or integrated set of information systems as a means of improving operational efficiencies and reducing costs. Tightly integrating operations across the enterprise through the implementation and use of ERP systems also allows for smoother work flow. An ERP system is often considered to be the core business system that drives a company’s daily operations.
What are some recent IT trends enterprises are paying attention to?
Going green (i.e., becoming socially responsible) and leveraging social networks made affordable by recent Web 2.0 technologies. Information technologies enable an organization to operate more efficiently and effectively than it otherwise could.
What are some ways of cutting energy consumption for companies, utilities and builders?
Smart Cooling (heat sensors monitor tempratures, and software directs the air-conditioning system to chill places that need it), Virtualization, alternative energy sources (wind and solar power), government involvement, bio chips (fix heat problem in computing)
What is social responsibility, corporate responsibility, sustainable or “green” IT, and corporate policy?
Social responsibility is when an entity (government, corp, organization, individual) has a responsibility to society.
Corporate policy refers to the position a firm takes on social and political issues.
Corporate responsibility includes everything from hiring minority workers to making safe products.
Sustainable green IT describes the manufacture, management, use, and disposal of information technology in a way that minimizes damage to the environment, which is a critical part of a corporation’s responsibility.
