information systems course

Managerial Issues of IT The usage of technology brings about several challenges as people begin to discover how technology can be of help to them in their own personal way. The relationship between technology and the society is a very interseting phenomenon. To understand this we have to look at the whole thing in two different ways. First, as said in an old adage, “Necessity is the mother of invention”. People in a given social setting face challenges to their living style and this challenge provokes them to discover and/or invent new tools and techniques which give them the opportunity to bring about the necessary change in their onw life styles. For example, writing was proving to be a pretty difficult task and was error prone and so the printing press was born. Same way, moving things from location to location was difficult and so the wheel was born. Name a noteworthy invention or discovery, it was done by someone who tried ot solve a specific problem related to or associated wit

What is Strategy? Strategy is a long term plan formulated and executed over a period of time by firms such that their resources are best utilized and output of the firm is optimized. What is usually expected out of such optimal performance is profitability and competitiveness. Usually firms in the present day choose a five year time period for formulating and executing strategy. That is to say, firms see five years ahead of time and plan for what needs to be done during these five years. Then, they execute the plan withing the time frame of five years. Firms answer three important questions when formulating their strategy. They are: (a) Where are we right now? (b) Where do we want to go? (c) How do we get there? The first two questions usually are answered in terms of specific measurable terms such as Market Share, Profitability, Return on Investment, Sales Revenues, Margins, Share of retail space, etc., The second question requires the ability to forecast by estimating the envir

6.1 Electronic payment processes Payments for the products and services purchased are an obvious and vital step in the electronic commerce transaction process. Concerns of electronic payments and security include: • The near-anonymous electronic nature of transactions taking place between the networked computer systems of buyers and sellers, and the security issues involved. • Electronic payment process is complex because of the wide variety of debit and credit alternatives and financial institutions and intermediaries that may be part of the process. • Varieties of electronic payment systems have evolved. New payment systems are being developed and tested to meet the security and technical challenges of electronic commerce over the Internet. Web Payment Processes Most e-commerce systems on the Web involving businesses and consumers (B2C) depend on credit card payment processes. But many B2B e-commerce systems rely on more complex payment processes based on the use of purchase or

6.1e-Business systems E-Business refers to the use of digital technology and the internet to execute the major business processes in the enterprise. e- Business includes activities for the internal management of the firm and for coordination with suppliers and other business partners. e-business is the use of the internet and other networks and Information Technologies to support e-commerce, enterprise communications and collaboration both within a networked enterprise and with its customer and business partners. e–business includes e-commerce, which involves the buying and selling and marketing and servicing of products, services and information over the internet and other networks. 6.2e-commerce systems Electronic commerce encompasses the entire online process of developing, marketing, selling, delivering, servicing, and paying for products and services transacted on internetworked, global marketplaces of customers, with the support of a worldwide network of business partners. Ele

5.1 Customer Relationship Management Customer relationship management is a cross-functional enterprise system that integrates and automates many of the customer-serving processes in sales, marketing, and customer services that interact with company’s customers. CRM systems create an IT framework that integrates all the functional processes with the rest of a company’s business operations. CRM systems use information technology to support many companies who are reorienting themselves into customer-focused businesses as a top business strategy. Customer-focused business is one of the top business strategies that can be supported by information technology. Many companies are implementing customer relationship management (CRM) systems as part of a customer-focused or customer centric strategy to improve their chances for success in today’s competitive business environment. CRM systems consolidate and integrate customer information from multiple communication channels- telephones, e-mail,