LO3 - Business Systems:

Question 1

What is a MIS?

Answer 1

Management Information System - Refers to the software and hardware used by organisations to obtain the required information for accurate decision making.

Question 2

What are the benefits of a MIS?

Answer 2

1) Integrated System,
2) Data For Decision Making,
3) Powerful Analysis Of Data,
4) Data Backup Capabilities.

Question 3

What are the limitations of a MIS?

Answer 3

1) High Costs & Installation,
2) Requires Accurate & Reliable Data,
3) Requires Staff Training For Use,
4) Requires Management / Maintenance By IT Professionals.

Question 4

What is a CRM?

Answer 4

Customer Relationship Management - A model for managing company’s interactions with current and future customers. The system helps to streamline the different elements of sales, marketing, customer service etc.

Question 5

What are the benefits of using a CRM system?

Answer 5

1) Efficiency - replacement of manual processes,
2) Collaboration - Use of better alternative tools,
3) Data - A valuable asset to gather and analyse,
4) Increased Accountability - Helps employees be more aware of their responsibilities,
5) Improved Customer Relations / Experiences.

Question 6

What is a SOP system?

Answer 6

Standard Operating Procedure - Documentation process that a company has in place to ensure that services / products are delivered consistently over time.

Question 7

What are the benefits of using a SOP system?

Answer 7

1) Ensures Consistency,
2) Fewer Errors,
3) Meets Legal Requirements.

Question 8

What are the limitations of using a SOP system?

Answer 8

1) Inflexible Practice - Time consuming to produce procedures,
2) Legal Updates - Requires periodic reviews.