Section E Flashcards
1
Q
What are operations?
A
Activities concerned with acquisitions of raw materials, conversion into finished products and supply of product to customer
2
Q
What is operations management?
A
Activities involved in designing, producing and delivering products and services.
3
Q
What are processes?
A
Building blocks of operations, that connect with one another to form a network
Transform input resources into output products/services
4
Q
What are the 4V’s in operations?
A
Volume
Variety
Variation
Visibility
5
Q
What is porters value chain?
A
Based around activities rather than functional departments
Considers organisations activities that create value and drive costs, organisations should focus on these activities
Activities split into primary and secondary (Support)
6
Q
What are activities split into in porters value chain?
A
Primary
Secondary
7
Q
What are primary activities?
A
Directly concerned with creation or delivery of a product/service
8
Q
What are secondary activities?
A
Help improve efficiency and effectiveness of the primary activities
9
Q
What is process design?
A
Method by which individual specialists seek to understand business processes and ensure these processes are designed to be efficient and effective as possible
10
Q
What is a process map?
A
Process visual representations of steps and decisions by which a product or transaction is processed
11
Q
What are the advantages of a process map?
A
Management Understanding Standardisations Role understanding Highlights inefficiencies Supports corporate initiatives
12
Q
What are the five stages of a product/service department?
A
- Considers customer needs
- Concept screening
- Design process
- Time-to-market
- Product testing
13
Q
What department is purchasing part of and what are the responsible for?
A
Important part of operations
Responsible for placing orders
14
Q
How do purchasing co-ordinate with finance?
A
Establishing credit terms Prices Payments Budgeting Data Capture Inventory
15
Q
What department is production part of and what do they do?
A
Core part of operations
Plans and oversees production of goods
16
Q
What do production liaise with finance for?
A
Cost measurement, allocation, absorption Budgeting Cost versus quality Production Process Inventory
17
Q
What are the four main characteristics of services?
A
Intangibility
Perishability
Inseparability
Variability
18
Q
What are some things finance assist service with?
A
Charge out-rates
Estimating costs
Problem Measuring benefits
19
Q
What is a supply chain?
A
Consists of a network of organisations
Together they provide raw materials into work in progress and then into finished goods for distribution and sales
20
Q
What is the order of a supply chain?
A
- Raw Material Supplier
- Manufacturer
- Wholesaler and Retailer
- Customer
21
Q
What does transformation of a product include?
A
Production Planning Purchasing Material Management distribution Customer Service Forecasting
22
Q
What is supply chain management?
A
Co-ordination of activities from supplier of raw materials to customer at end.
Good co-ordination can save costs while adding value
Technology can play a key part.
23
Q
What is the name of the strategic supply wheel?
A
Cousins
24
Q
What is cousins?
A
Emphasises importance of viewing supply as central to organisation and effectiveness
Organisations supply strategy should involve a number of key areas described as ‘spokes in the wheel’
25
What does MRP stand for?
Material Requirement Planning
26
What is Material Requirement Planning (MRP)?
Computerised system for planning the requirements for raw materials, work-in-progress and finished goods.
27
What tech has been developed from Material Requirement Planning (MRP)?
Manufacturing Resource Planning (MRPII)
| Enterprise Resource Planning (ERP)
28
What is Manufacturing Resource Planning (MRPII)?
Goes several steps beyond MRP
29
What does Manufacturing Resource Planning (MRPII) include?
```
Production Planning
Employee Attendance
Machine Capacity
Productivity Tracking Scheduling
Demand Forecast and Analysis
Quality Training Tool
```
30
What is Enterprise Resource Planning (ERP)?
Next evolution of an MRP
| Combines information from aspects of operations and support functions into one single system
31
What are some definitions of quality?
Is product/service free from errors and does it adhere to design specification?
Is product/service fit for use?
Does product/service meet customer needs?
32
What are the methods of quality measurement?
Four main types of quality-related costs
| Monitoring cost of quality is central to the operation of any quality improvement programme
33
What two things can quality related costs split into?
Conformance
| Non-Conformance
34
What are some conformance costs?
Prevention costs
| Appraisal Costs
35
What are some non-conformance costs?
Internal Failure Costs
| External Failure Costs
36
What is Total Quality Management (TQM)?
Continuous improvement in quality, productivity and effectiveness obtained by establishing management responsibility for processes as well as output.
Every process has a process owner
Every person in entity operates within a process and contributes to its improvement
37
What are the features of TQM?
Prevention of errors before they occur
Continual Improvement
Participation by all
Commitment of senior management
38
What is Kaizen?
Japanese term for philosophy for continuing improvement in performance via small, incremental steps.
39
What are the characteristics of Kaizen?
Setting standards and continually improving to improve long-term sustainable improvements.
Focus of elimination waste, improving processes/systems and productivity.
All areas of Business.
Employees viewed as a source of ideas on reducing costs rather than source of high costs.
Allows organisation to respond quickly to changes.
40
What is six sigma?
Quality management programme
| Achieve reduction in number of faults that go beyond acceptable tolerance limits.
41
What does sigma stand for?
Standard deviation
42
What is the key requirements of six sigma?
Focus on customer and based on level of performance.
Process should be related to main drivers of performance.
Needs to be part of wider performance management programme which is linked to strategy of organisation.
Senior manager have key role.
Training and Education essential for success.
Tight target but accepts some failure.
43
What are the limitations of six sigma?
Criticised for focus on processes and reliance on data.
Can be time consuming and expensive.
Organisation must be supportive.
Heavily data driven.
44
What is lean?
Philosophy that aims to systematically eliminate waste through the identification and elimination of all non-value adding activities.
45
What wastes need to be eliminated?
```
Inventory
Defective Units
Transportation
Waiting
Effort or Motion
Over-processing
Over-production
```
46
What does lean synchronisation aim to do?
Aims to meet demand instantaneously with perfect quality and no waste.
47
What is just-in-time?
Produce or procure products or components as they are required by customer or for use
48
What is the requirements of just-in-time?
```
High quality and reliability
Elimination of non-value added activities
Speed of throughput
Flexibility
Lower Costs
```
49
What is reverse logistics?
Return of unwanted or surplus goods, materials or equipment back to the organisation for reuse, recycling or disposal.
50
What is the main reason for reverse logistics?
```
Customer not satisfied
Installation problems
Usage problems
Warranty claims
Return of unsold stock
Recall
```
51
What are KPI's?
Measures which indicate whether or not CSF are being acheived.
52
What are some appropriate KPI's for operations?
Supply chain costs per unit sold
Time taken to deliver customer needs
Percentage waste rate
Labour utilisation rate
53
What are the four approaches to selling a product?
Marketing orientation
Production orientation
Product orientation
Sales Orientation
54
What is marketing orientation?
Understand customer needs, then produces products with benefits and feature to fulfil needs
55
What is production orientation?
Focus on high volume product to achieve low unit cost
56
What is product orientation?
Focus on continual improvement of product, assumes customers want best quality for money
57
What is sales orientation?
Aggressive promotional policies to entice customer
58
What is the marketing planning process?
1. Situation Analysis: SWOT analysis, PESTEL analysis
2. Review mission and objectives
3. Set marketing objectives: SMART
4. Devise marketing strategy: market research, Positioning, Segmentation, Marketing mix, targeting
5. Implementation
6. Review
59
What is a macro environment?
Factors that influence organisation that are outside of their control
60
What does the acronym PESTEL stand for?
```
Political
Environment/Ecological
Social
Technological
Economic
Legal
```
61
What are some social factors to monitor?
```
Population demographics
Social Mobility
Income Distribution
Lifestyle changes
Consumerism
Levels of education
```
62
What is a marketing mix?
Set of controllable variable that a firm blends to produce desired results from its chosen target market
63
What are the 7P's of the marketing mix?
Traditional 4P's: Product, Place, Promotion, Price
| Additional 3P's for service industry: People, Processes, Physical Evidence
64
What are some features of a service organisation?
Services are intangible and more difficult to measure their quality.
They're consumed immediately and cannot be stored.
Heterogeneity - Maintaining consistent output in difficult
Inseparability
Do not result in transfer of property
65
What are two main types of product issues?
Product Definition
| Product Positioning
66
What is the product definition issue?
Issue defining what product should be
67
What three levels can product definition be done?
Core/genetic product
Actual product
Augmented/extended product
68
How would a car be specified using the three levels of product definition?
Core/genetic product: Personal transportation
Actual product: range of engine sizes, different body shapes offered
Augmented/extended product: manufacturers warranty or dealers discounted service contract
69
What is product positioning?
How does product compare with competitors?
70
What are the four key considerations (4C's) of pricing?
Cost - must be able to make profit
Customers - how much will they pay?
Competition - is our price higher than competitors?
Corporate Objective
71
What are some types of pricing that can blend some issues?
Cost plus pricing: Cost per unit, then mark-up added
Penetration pricing: Low price is set to gain market share
Going rate pricing: Set to match competitors
Loss Leaders: Product may be sold at a loss, Expectation customer will then go and buy more profitable product
72
What is promotion?
Encourage customer to buy products by moving them along AIDA sequence
73
What does AIDA stand for in promotion?
Awareness
Interest
Desire
Action
74
What are some promotional techniquies?
Advertising
Personal Selling
Sales Promotion Techniques
Public Relations (PR)
75
What are some new forms of marketing?
```
Viral
Guerrilla
Experiential
Digital
Search Engine
Postmodern
```
76
What is viral marketing?
Individuals pass on marketing messages
77
What is Guerrilla marketing?
Relies on well thought out, highly focused and attacks on key targets
78
What is Experiential marketing?
Interactive experience e.g. Roadshows
79
What is postmodern marketing?
Giving customer experience customised to them
80
What does selling direct mean?
Manufacturer sells directly to consumer
81
What does selling indirect mean
Longer supply chain
82
What is market research?
Systematic gathering, recording and analysing of information about problems relating to marketing of goods and services.
83
What are two data gathering techniques?
Primary Research
| Secondary Research
84
What is Secondary Research?
Data that is already available
Quicker and cheaper than primary research
May not be accurate and may not meet needs
85
What are some internal and external examples of secondary research?
Internal: Accounts information, order information, loyalty card information
External: Internet, Market research agency
86
What is Primary Research?
Collection of new information direct from respondents .
More Expensive
Only performed if desk research fails
87
What are some examples of primary research?
```
Questionnaires
Interviews
Focus Groups
Trial Testing
Observation
```
88
What are the two types of data?
Quantative (Numerical)
| Qualitative (Non-Numerical)
89
What are some examples of quantative data?
Total Market Size
| Market Share Percentage
90
What are some example of qualitative data?
Beliefs of customers
| Trends in customer preferences
91
What are the pros of having technology when doing market research?
Insight gained faster
Organisations can conduct focus groups online
Access to wide range of secondary research
92
What are the cons of having technology when doing market research?
Online research can give false impressions
93
What are the some tools used when doing market research?
Click Analysis
Visual Behaviour
Search Engine optimisation
Dashboard tools
94
What is click analysis within market research?
Tracks actions of users within website
95
What is visual behaviour within market research?
reveals where users spend time looking at screen
96
What are dashboard tools within market research?
Consolidate research into one interface
97
What is marketing segmentation?
Sub-dividing of marketing into homogeneous groups to whom a separate marketing mix can be focused.
98
What is a market segment?
Group of consumers with distinct, shared needs
99
Why do we have market segments?
People in segment more likely to purchase product
company can focus on a segment
Organisation can identify opportunities
100
What three criterias does Kotler suggest segments must meet?
Measurable: possible to identify number of buyers in each segment so profitability can be accessed
Accessible: Possible to reach potential customers via organisations promotions and distribution channels
Substantial: Small segments may be unprofitable
101
What are some bases for segmentation and examples for each base?
Demographic: Age, Gender, Family Life Cycle
Socio-Economic: Occupation, Income
Physiological: Lifestyle, attributes
Situational/Behaviour: Occasion of use, Frequency of purchase
102
What is targeting when talking about market segments?
Process of selecting most lucrative market segments for marketing the product
103
What are the three types of marketing?
Concentrated
Differentiated
Undifferentiated
104
What is concentrated marketing?
Specialises in one identified market only where a company knows it can compete
105
What is differentiated marketing?
Company makes several products each aimed at separate target segment
106
What is undifferentiated marketing?
Delivery of a single product to entire market. Little concern for segmentation
107
What is positioning when talking about marketing?
Involves formulation of definitive marketing strategy around which the product would be marketed to target audience
108
When talking about porters four positioning strategy if something has low cost and broad target what is it?
Cost Leadership: Organisation aims to be lowest cost producer
109
When talking about porters four positioning strategy if something has low cost and narrow target what is it?
Cost focus: pursuit of cost leadership, focused on one segment
110
When talking about porters four positioning strategy if something has high cost and broad target what is it?
Differentiation: Organisation produces products that are different and appeal to customers
111
When talking about porters four positioning strategy if something has high cost and narrow target what is it?
Differentiation focus: Pursuit of differentiation but focused on one segment
112
How does finance work with Sales and Marketing?
Product life cycles and costing
113
What is the product life cycle?
1. Introduction
2. Growth
3. Maturity
4. Decline
114
What is product life cycle costing?
Finance considers cost and revenue of a product over its whole life
115
What is a balance portfolio?
Inform decisions about organisation overall product offering
116
How does big data analytics help marketing?
Presents huge opportunity to gain useful insight to improve competitive position
117
What are some examples of big data analytics in marketing?
Market segmentation and customisation: volume and variety enables organisations to create highly specific segment
Product/service department: Use data on behaviour and trends to create new products to meet customer needs
Decision Making: Can improve decision making
Obtaining customer feedback: Organisations have access to feedback in real or almost real time
118
What are some example of KPI's within marketing?
Promotion: Promotion Costs, Awareness levels, Social Media reach
Product/service: Life-Cycle cost, Warranty claims, brand value
Pricing: Price relative to industry average, Price elasticity on demand
Place: Transport Costs, Storage Costs
119
What is HR responsible for?
Management and development of HR within the organisation. Includes Creation, development and maintenance of effective workforce. Matching requirements of organisation to environment and responding to environment.
120
What is a HR plan?
Strategy developed in the context of organisations overall strategic plan. Typical plan will look forward 3-5 years and aim to close gap between demand for labour and supply of labour.
121
What are the stages of HR planning?
1. Strategic Analysis
2. Internal Analysis: audit of existing staff to establish number and skills
3. Identify gap between supply and demand: Shortage in labour should be identified
4. Put plans into place to close gap
5. Review
122
What is the 7 steps of the HR cycle?
1. Recruitment
2. Selection
3. Training and development
4. Performance Management
5. Incentives and Motivation
6. Reward
7. Termination
123
What is recruitment?
Involves attracting a field of suitable candidates for job
124
What is the order of the recruitment plan? (5 Steps)
1. Agree Vacancy
2. Job Analysis: description of tasks that make up the job
3. Job Description: Broad statement of purpose, scope and responsibility of job
4. Person Specification
5. Source Candidates: Involve persuading candidates to apply for role
125
What is Alec Rogers seven point plan for person specification and the acronym?
BADPIGS
```
Background/Circumstances
Attainments
Disposition
Physical make up
Interests
General Intelligence
Special Attributes
```
126
What does selection involve?
Aimed at choosing the best person for the job from field of candidates sourced via recruitment
127
What are the methods for selection?
```
Application Form
Interviews
Testing
Assessment Centre
References
```
128
What is an application form?
Obtain relevant information about applicant and allow for comparison with person specification
129
What is involved with selection interviews?
Candidates rejected and remaining ones are interviewed
130
What is the purpose of a selection interview?
Find best person
| Ensure person understands job
131
What are some options for selection interviews?
```
Face to face
Group Interviews
Problem solving
Stress
Panel Interviews
```
132
What is selection testing and the types?
Undertaken before or after interview
| Two types are: Proficiency and Attainment, Psychometric
133
What does an assessment centre involve?
Involves candidates being observed and evaluated by candidates
134
What may the assessment centre exercise include?
```
Group discussions
Presentations
Questionnaires
Simulations
Games
Written tests
Speeches
```
135
What will assessors be looking for at assessment centres?
Evidence that candidates have certain abilities
136
What are the advantages of assessment centres?
High degree of accessibility
Avoidance of single accessor bias
Reliability in predicting potential success
137
What are references for?
To confirm facts about employee and increase degree of confidence
138
What is training?
Planned and systematic modification of behaviour through learning events
139
What is development?
Growth or realisation of persons ability and potential
140
What is the 5 step process of training and development?
1. Identify training and development needs
2. Set training objectives
3. Plan training
4. Deliver training
5. Evaluate training
141
What four levels does Donald Kirkpatrick suggest when evaluating training?
1. Reaction: how delegates felt about training or learning experience e.g. Interviews
2. Learning: Measurement of increase in knowledge e.g. observation
3. Behaviour: Extent of applied learning back on job e.g. observation and interview on time
4. Results: Effect on business or environment by trainee e.g. impact on KPI's
142
What is performance management used for?
Used to access and ensure employee is carrying out their duties in an effective and satisfactory manner
143
What are the four main steps of performance management?
Set targets: SMART goals and targets
Monitor
Review
Action Plan
144
What is an appraisal?
Systematic review and assessment of employee performance, potential and training need
145
What does Lockett suggest are six barriers to an effective appraisal?
Confrontation: Feedback badly delivered
Judgement: One sided process, manager is judge
Chat: Lack of will from either party
Bureaucracy: No purpose or worth, form filling excercices
Annual Event: Ceremony carried out once or twice a year
Unfinished business: No follow up, points agreed not actioned
146
What does motivation refer to?
Willingness of individuals to perform certain tasks or actions
147
What are the 5 things of Maslows hierarchy of needs?
1. Self Fulfilment: Challenging jobs, achievement in work
2. Ego: Merit pay increase, Respect of others
3. Social: Friendship at work, Compatible work groups
4. Safety/security: Job security, fringe benefits
5. Basic/physiological: Basic salary, Safe working conditions
148
What is a physcological contract?
Outlines perception of employee and employer regarding what their mutual obligations are towards each other.
Highly subjective, not written down.
149
What does an employee want and what are they willing to give?
They want needs to be satisfied and are willing to offer their energy and talents
150
What do employers want and what are they willing to give?
Want employee to work hard, will have expectation. Willing to give payment, benefit and other outcomes.
151
What can workforce flexibility be used for?
Increase employee motivation
152
How can flexibility in work pattern be acheived?
Remote working
Flexitime: less restriction on when hours are worked
Shift system: working outside of normal working day patterns
Compressed week
Job Sharing: Two employees share a standard work week
Part time
153
What are two other types of flexibility?
Task or function flexibility
| Financial Flexibility
154
What is task or function flexibility?
Employees have ability to move between task as and when required
155
What is financial flexibility?
Achieved through variable system of rewards
156
What is a reward system?
Refers to all monetary, non-monetary and psychological payments that organisation provides
157
What are the aims of a reward system?
Support overall strategy
Must be affordable
Conform to relevant laws and regulations
158
What are some methods of a reward system?
Basic pay: minimum amount employee received for working in organisation
Performance-related pay: based on level of performance
159
What are some type of performance related pay?
```
Individual: Given to employee on an achievement
Group: Based on achievement of group targets
Knowledge Contingent
Profit related
Share Options
Commission
Piecework schemes
Benefits
```
160
What are some overlapping responsibilities for HR and finance?
Cost and benefit of recruiting
| Impact of HR policies profitability
161
How is technology helping HR and Finance work together?
Better joined up systems creating better information
| Quicker and easier to track and forecast HR information
162
What are some examples of KPI's for HR?
Recruitment and Selection: Cost per employee hired, Time to fill position
Training and development: Training Feedback, cost
Performance Management: Appraisal completed on time, Action plan agreed and followed up
Motivation: Turnover rate, Employee satisfaction scores
Reward system: cost of rewards, competitiveness of reward system
163
What is information system (IS)?
Provision and management of information to support running of organisation
164
What is information technology (IT)?
Supporting equipment that provides infrastructure to run information systems
165
What is the IT function responsible for?
Planning, evaluating, installing, operating and maintaining hardware, software, networks and data centres
166
What is a management information system (MIS)?
Converts internal and external data into useful information. Then communicated to managers for decision making.
167
What are the four different types of management information system?
Executive information system (EIS)
Decision support system (DSS)
Transaction processing system (TPS)
Expert system
168
What is an Executive information system (EIS)?
Senior management have access to internal and external information
169
What is a decision support system (DSS)?
aid managers in making decisions. Predicts consequences of a number of possible scenarios.
170
What is a transaction processing system (TPS)
Used by operational managers to make decisions. Records daily transactions of an organisation and summarises them
171
What is an expert system?
Hold specialist knowledge and allows non-experts to interrogate them
172
How does IT enable knowledge management between functions?
Data: Raw Facts
Information: Processed, organised data
Knowledge: Application of cognitive process to the information so it becomes useful
173
What are two types of knowledge?
Explicit
| Tactic
174
What is explicit knowledge?
Knowledge the company knows it has
175
What is tactic knowledge?
Personal knowledge and expertise help by people with an organisation that hasn't been formally documented
176
What is knowledge management?
Process for the acquisition, sharing, retention and utilisation of knowledge
177
What are knowledge management systems?
Refers to any type of IT that helps to capture, store and retrieve and use knowledge to enhance the knowledge management process
178
What are some examples of a knowledge management system?
Groupware
Intranets
Extranets
Data Warehousing and mining
179
What is groupware?
Tech designed to help people collaborate
180
What are extranets?
Intranet to include suppliers, customers and other partners
181
What is IT Infrastructure?
consists of core networks, databases, software, hardware and procedures managed by IT.
182
Why is modernisation of IT infrastructure necessary?
To take advantage of data visualisation, AI and blockchain.
183
What are some things that influence the extent and pace of tech adoption by organisation?
```
Technical Feasibility
Cost of developing, implementing and maintaining new technology
Economic benefits
Availability of labour skills
Regulatory and social acceptance
```
184
Technology is now seen as a key component of what?
Business transformation
185
How can good IT infrastructure enable organisation transformation?
```
Adoption of new way of working
Productivity improvements
Flexible working
Creating of SSC capability
Multi-Source data capture and analysis
Visual organisation
```
186
What is remote working?
Staff working away from office
187
What are the advantages of remote working?
Lower infrastructure costs
Increased employee motivation and productivity
Increased commitment to organisation
Reduced staff turnover
188
What are the disadvantages of remote working?
Difficult to co-ordinate staff
Loss of control of staff
Extra labour costs e.g. providing staff with equipment
189
What is a virtual organisation?
Outsource most or all of its functions to other organisations with very few functions being kept in house.
190
What is a virtual team?
Group of people who interact through independent tasks guided by a common purpose and work access boundaries with links strengthened by IT
191
What are the challenges with a virtual team?
```
Forming a team
Knowledge sharing
Processes and goals
Cultural differences
Leadership: people work at different times
Morale
```
192
What is customer relationship management (CRM)?
Refers to tech that is needed to gather information to achieve:
Identify, attract and win new customers
Retain existing customers
Entice past customers back
193
What are some ethical and social issues with IS and data?
Data protection and data privacy
| Corporate digital responsibility
194
What is data protection and data privacy?
Business must ensure its compliant with all legislation but also must consider what is right or wrong.
195
What is Corporate digital responsibility (CDR)?
Voluntary commitment by organisation to go beyond mere compliance with legislation
196
What are the ethical and social issues with data?
Legal issues: data may be used or handled in an unlawful way. Resulting in unauthorised access of data.
Ethical issues: Goes beyond legal requirements and considers what is right or wrong for organisation to do.
Social issues: Organisation should make changes that are for the best interest of the society in which it operates
197
What are the initial cost of new IS?
Cost to design and develop system if bespoke
Purchase price if not bespoke
Purchase of new hardware
Training costs
198
What are the running costs of new IS?
Labour time to run system
Materials e.g. replacement parts
Service Support
Ongoing costs e.g. cost of quality or security adherence/failure
199
What are the benefits of new IS?
```
Speed
Accuracy: Reduce human error
Volume: Be able to handle large volumes of data
Complexity
Collaboration
Presentation
Lowe Costs
```
200
What are some threats to the data security and privacy and solutions?
Natural disasters e.g. fire or flood: Fire procedures
Malfunction of computer hardware or software: network design to cope with high volume
Unauthorised access, usage, damage or theft: Personnel controls, Access controls
Viruses: Anti virus software, regular audits
Hackers: Firewall software, usernames and passwords
Human error: Training, Control to ensure only valid data is input
Human resource risk: antiglare screens reduce eye strain, cables in ducts
201
What is system architecture?
Way systems infrastructure is organised together to support organisations functions and overall goal
202
What is a centralised IT function?
When whole IT function or the entire IS is based out of a single, central location
203
What is a decentralised IT function?
When IT function or the IS is spread out through out the organisations location
204
If IT implement a significant system what would it be treated as?
Treated as a project and finance will form part of the team
205
What are some examples of why finance and IT need to interact?
Smarter Investment in IT
Information security and compliance
Data Analytics
Cost Benefit analysis
206
What are some example of KPI's for IT?
Operational activities: ticket response rates for IT issues sent to IT support, system/technology downtime
Transformational activities: Cost of new tech, IT spend per employee
Strategic activities: Revenue generate by using new technology, Technology leading to competitive advantage
