Week 4 Script with timestamps (1).doc

Week 4 Script with timestamps (1).doc - BU204 Week Four...

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BU204 Week Four Script 0:00 Hello and welcome to the Week 4 audio lecture. I am your host Ron Rosalik, a Faculty at Herzing University online. In this audio lecture we will cover two main topics: Topic 1: Achieving Operational Excellence and Customer Intimacy: Enterprise Applications & Topic 2: E-Commerce: Digital Markets, Digital Goods 0:30 Topic 1: Achieving Operational Excellence and Customer Intimacy: Enterprise Applications Over the last decade businesses have come to realize how important it is to totally integrate business processes across the enterprise. We’ve spoken about “islands of information” many times. In today’s fast-paced world, managing information assets is more important than ever before. In this chapter we’ll look at how important it is for information to be available in every nook and cranny of an enterprise. 1:04: To better understand our first topic this week our goal will be to understand the following three concepts and how they apply to digital firms: 1. Enterprise Systems 2. Supply Chain Management Systems 3. Customer Relationship Management Systems 1:20 Goal #1 Enterprise Systems We’ve look at enterprise resource planning systems in previous chapters and also discovered the importance of efficiently and effectively maintaining data that businesses can develop into useful information. As we’ve seen, it can be disastrous for an organization to have more than one set of data for customers, employees, and suppliers. The best idea is to have one database that supplies information where and when necessary across functional lines. Everyone from employees to 1
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managers, from customers to suppliers, would have the necessary tools to extract the data that they need and present it in the format that fits best. That’s where enterprise systems come in. 2:07 Enterprise Software Enterprise systems aim to correct the problem of firms not having integrated information. Also known as enterprise resource planning (ERP) systems, their main goal is to bridge the communication gap among all departments and all users of information within a company. Data integration throughout the firm is the key. Consolidated data from divisions and departments throughout the business, including key business processes, are immediately available to any authorized user. The greatest enticement of enterprise systems is the chance to cut costs firm- wide and enhance the ability to pass information throughout the organization. Enterprise software allows every functional area to share every process and every piece of data. A business can select specific processes in specific areas but eventually everything the company does will be shared across all lines. The software uses predefined processes and requires the company to adapt itself to the software. While many companies may balk at having to change, the software is designed around the best practices for that particular function. The company can benefit from using the most successful solutions in a particular industry to help achieve its objectives.
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