BPI – Introduction to Process Effectiveness Measurement
The Business environment is highly dynamic and the rules of business are being re written every day. Several changes in the economy, technology and other areas are affecting the way the business is conducted. There exists a need for every Business Organization to keep improvising and adapting to the changes that are taking place and […]
Aligning all Processes – Importance and Challenges
Now, since we know about the different types of processes that an organization has, it is essential that we understand that these are just the pieces of the puzzle. How these pieces fit together is what creates a masterpiece or an average organization. However, understanding the components has given us a clear idea of what […]
International Trade Terms – INCOTERMS
Globalization has given impetus of international trade which is increasing by the day. International trade involves multiple agencies, transportation agents, carriers as well as Customs and Banks etc of the two countries involved in trade. Any Export or Import transaction involves transportation of goods predominantly via sea or air and in some cases over the […]
What is Custo Brazil
Brazil is the most expensive country to live in Latin America. The real problem is that Brazil has become more expensive than most countries in Europe and maybe it is expensive when compared to America as well. The real problem is that people in these developed countries make three times the income of an average […]
The Argentine Currency Crisis
The Argentine economy is no stranger to economic crises. The country saw a massive financial crisis with the currency almost collapsing in the year 2001. Now, seventeen years later, Argentina seems to be back to square one. Once again, the inflation rates in this Latin American nation have started skyrocketing. Also, the declining value of […]
In today’s digital age information technology and information systems play an important role in success of organization. Information technology has challenged the way the business gets conducted. A company with superior product and service content become market leaders. There is a constant urge for the companies to provide a better and competitive content.
Organizations invest in research and development for superior content production, or they acquire/merge with companies. The purpose of acquisition is to either expand current product offering or add content as to provide end to end solutions.
Organization strategy can be devised using Porter’s Five Force model. Organization’s strategy should be to increase customer base and provide customized solution. Service also plays an important role in organization strategy. Service is the key factor in maintaining good customer relationship. Organization needs to devise a strategy which is convergence of technology, brand marketing, product innovation and world-class service.
A physical value chain consist procurement of raw materials, operations, delivery, sales and marketing and service. Information technology has changed the way we look at the value chain. Information technology has introduced concept of virtual value chain.
The components of a virtual value chain are as follows:
The concept of a virtual value chain was devised looking at current internet penetration. It provides addition to existing value chain. Information technology helps in holistic view of physical value and making it efficient and effective.
Today’s information systems are capable of capturing information from every part of the value chain. This information is utilized to optimize performance at each stage. However, this information can also be utilized to improve customer experience at each stage. This enhanced experience can be through new product and services, thus generating more revenue to the company.
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Communication Systems and Groupware – Information System Concepts that Apply in All Functional Areas of Business
February 12, 2025
