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Strategic management question
The Strategic Management Process
The Strategic Management Process
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Introduction
This project will conduct a thorough analysis of such information services desired by customers to design a Web-based system to provide such services and implement the proposed Customer Relationship Management (CRM) web-based solution.
• Description of the methodology, new processes, and IT tools and how each of them is used to satisfy the business need. Methodology
• Research and identify competitors, management and technology companies that are facing similar problems.
• Gather and evaluate competitive intelligence tools which include competitor Web sites, products and services, and market research reports for PPI’s business solutions.
• Evaluate current trends and proven models for IT development – Internet, Ecommerce, and Supply Chain Management (SCM).
• Analyze the business impact of IT development programs to justify investments. (PPI’s criteria are to reduce or lower overhead cost or expenses.)
• Explore market and vendor analysis of the top leadership vendors.
New Processes
PPI’s On-line Web Customer Portal will provide educational information services such as (1) ability for customers to submit unstructured and structured comments about movies, music, and games purchased or rented; (2) submit requests for new products for sale and rent; (3) check due dates for a customer’s outstanding rentals; (4) extend a rental without penalty for a minor fee to be applied when the item is returned; (5) review the inventory of items carried in the store; (6) patents can monitor items rented or purchased by children.
PPI’s future enhancements will include an online and live for tutoring and supplemental education services to students of all ages and skill levels. The online tutoring options will provide individua...
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Conclusion
The need for effective IT risk management has become significantly more important as organizations have become more dependent on their IT systems for their success and business competitiveness. While many organizations feel they have a solid grasp on their IT risk concerns, too often their IT risk management efforts have serious gaps and vulnerabilities due to a failure to take a holistic approach to IT risk. The risk management strategy plan for Plush Packets Inc., defined in this document provides the greatest opportunity for success and ensures executive support. Aligning the risk strategy with the organization’s overall business strategy plays a key role to success to the plan’s success. Once the strategy is defined and agreed upon—preferably, with agreement at the executive board level as well—it needs to be communicated to all stakeholders.
National Institute of Standards and Technology (NIST): Risk Management Guide for Information Technology Systems. Special Publication 800-30, 2002.
Security helps the organization meet its business objectives or mission by protecting its physical and financial resources, reputation, legal position, employees, and other tangible and intangible assets through the selection and application of appropriate safeguards. Businesses should establish roles and responsibilities of all personnel and staff members. However, a Chief Information Officer should be appointed to direct an organization’s day to day management of information assets. Supporting roles are performed by the service providers and include systems operations, whose personnel design and operate the computer systems. Each team member must be held accountable in ensuring all of the rules and policies are being followed, as well as, understanding their roles, responsibilities and functions. Organizations information processing systems are vulnerable to many threats that can inflict various types of damage that can result in significant losses (Harris, 2014). Losses can come from actions from trusted employees that defraud the system, outside hackers, or from careless data entry. The major threat to information protection is error and omissions that data entry personnel, users, system operators and programmers make. To better protect business information resources, organizations should conduct a risk analysis to see what
As a project manager what can or should you do if your company 's sales force signs project contracts that are either underspecified or underpriced?
PEP is moving forward with implementing a new IT system and improving its business processes. The IT Steering Committee (ITSC) wants to start by implementing a new customer billing and payment system. They have requested the services of and independent Business and IT Systems Analyst, Jenna Smith, to conduct perform an investigation. The goal is to identify whether the new system will interface with other new IT systems and updated business processes. The primary point of contact for PEP will be the Chief Information Officer, Mark Temple.
The risk management plan is for Flayton Electronics following their breach in security of their customer’s information. The document provides an explanation and description of the risk management process undertaken throughout the life cycle of this project. The project manger will be responsible for reviewing and maintaining the Project Risk Management Plan. The manager will ensure that all the risk process factors are appropriate to deal with the risks highlighted in the project.
Key Duties: • Carried out research on e-commerce and IT for small and medium-sized enterprises (SMEs). • Taught a range of management and Information Technology (IT) subjects to undergraduate programmes. • Delivered lectures, conducted tutorials, seminars and laboratory sessions for undergraduates. • Supervised numerous undergraduate computer-based projects, final year industry-based research and work programs. • Set course and degree requirements, curriculum revision and undertook academic planning activities.
... recommendation is that better protection should be provided for the management of financial risk. Benkol could use the Net Present Value technique to cover that. Benkol also lacks a proper risk assessment method. Benkol does not use a risk assessment matrix, nor scenario analysis and probability analysis is done by the project manager using subjective assumptions. This can be refined by implementing proper probability analysis and risk assessment matrix.
No firm can be a success without some form of risk management. Risk are the uncertainty in investments requiring an assessment. Risk assessment is a structured and systematic procedure, which is dependent upon the correct identification of hazards and an appropriate assessment of risks arising from them, with a view to making inter-risk comparisons for purposes of their control and avoidance (Nikolić and Ružić-Dimitrijevi, 2009). ERM is a practice that firms implement to manage risks and provide opportunities. ERM is a framework of identifying, evaluating, responding, and monitoring risks that hinder a firm’s objectives. The following paper is a comparison and evaluation to recommended practices for risk manage using article “Risk Leverage
- Williams, L.T, 1997, “Planning and managing the information system - a manager's guide”, Industrial Management & Data Systems Volume 97 Number 5 1997 pp. 187-191
Effectively integrating information technology (IT) into an organization’s business processes is critical if the organization wants to increase productivity and remain profitable. IT includes items such as the systems software, application software, computer hardware, and the networks and databases that help manage the organization’s information. When implementing quality standards and processes that are forever changing in the IT world, organizations must balance these changes while continuing to rapidly implement new systems technologies in order to stay competitive.
Risk management is the process of defining, assessing and controlling threats to a company's capital and profits. These threats, or risks, could root from a wide diversity of sources, including financial indefinitiness, legal responsibilities, strategic management wrongs, accidents and natural disasters. As a result, a risk management plan increasingly includes companies' processes for identifying and controlling threats to its digital assets, including proprietary corporate data, a customer's personally identifiable information and intellectual property.
Over the past decade, risk and uncertainty have increasingly become major issues which impact business activities. Many organizations are raising awareness to minimize the adverse consequences by implementing the process of Risk Management Framework which plays a significant role in mitigating almost all categories of risks. According to Ward (2005), the objective of risk management is to enhance a company’s performance. In particular, the importance of the framework is to assist top management in developing a sensible risk management strategy and program.
Computer Economics, a research and consulting firm, surveyed 209 IT organization worldwide regarding their IT investment plans. The leading trends “were identified as low risk/high reward based on their cost predictability and their positive return on investment for organizations within two years’ time.” CRM tops the list for 2014 (Mackie, 2014)
Risk mitigation is also the process of controlling actions, which are identified, and selecting the suitable ones to reduce risk according to project objectives (Pa, 2015). Risk mitigation is important in IT organizations in so many ways. According to Ahdieh, Hashemitaba, Ow (2012), mitigation of risk provides a mechanism for managers to handle risk effectively by providing the step wise execution of the risk handling (as cited in Pa, 2015, pg. 49). Some risks, once identified, can readily be eliminated or reduced. However, most risks are much more difficult to mitigate, particularly high-impact, low-probability risks. Therefore, risk mitigation and control need to be long-term efforts by IT project managers throughout the project lifecycle. There are three types of risk mitigation strategies that hold unique to Business Continuity and Disaster
Consequently, e-business and especially online shopping is crucial for retail stores. They should provide necessary infrastructure for selling their products online. By taking advantage of e-business not only they can get competitive advantage of online shopping, but the...