Information Technology (IT) for Business
Individual Assignment Requirements
You are to research a real-life business example of your choice and the impact of IT on that business.
Important points
1) Does your chosen business need IT?
2) Why IT is important for business survival?
3) What is required to apply IT into your chosen business? (I.e. cost, planning, designing, equipment, installation, training, etc…)
4) How does your chosen business use IT? (internally such as employees, and externally such as customers, suppliers)
5) What benefits and advantages does IT bring to your chosen business? (I.e. revenue, flexibility, reduces cost, etc….)
6) What type of risks does IT bring to your chosen business? (i.e. security, privacy, confidentiality)
7) How can your chosen business maintain and monitor IT?
Your report will be assessed on the quality of your research and report presentation. Discussion must be relevant to your chosen business. Your report is to be in the style of
a business report. There is a limit of ten pages excluding appendices. You can choose a business from any of the following industries:
Healthcare
Food processing
Banking and finance
Telecommunications
Library
Transport
Airlines
Printing and publishing
Media
Computer gaming
tourism
Examples:
Trip Advisor –Telstra — https://www.telstra.com.au/
Commonwealth Bank of Australia — https://www.commbank.com.au/
Qantas — https://www.qantas.com/au/en.html
Expert Partial Solution
Introduction
Purpose
The report seeks to research the impact of IT on businesses and its developing integration into business activities.
Background
A recent study on IT uses shows that majority of media houses in Australia have adopted the concept of IT in their operations.
Method of Investigation
Questionnaires were administered to 25 employees of SCA on 20th April 2016. Ten executive members of the media house were also interviewed to obtain more in-depth views. References were also made to articles and books.
- Why SCA needs IT
IT refers to the use of any storage, computers, networking and other physical devices and processes to produce, process, store, secure and exchange different types of electronic data (George, 2015, p. 8). The company requires the use of IT because most of its business activities include television and radio broadcasting, uploading and dissemination of digital information and media related operation such as advertising. Such activities actively depend on IT for their adequate and efficient execution. It is also a common understanding and practice for all media houses to use IT in conducting their respective business agendas.
- Importance of IT for business survival
Today, IT is central to the success of most businesses across the world from marketing to security. Therefore, the following reasons explain why it is critical for businesses to not only survive but to thrive.
It simplifies communication: for instance, IT is an essential component for effective internal and external communications. Internal communication mainly happens within a business or various parts of the marketing. The integration of IT in this form of communication facilitates implicit coexistence of the different departments of a particular business. It ensures that staff members keep up with the technology used for internal newsletters, email or company-wide digital project platforms. On the other hand, external communication entails a firm’s communication with clients, potential clients, investors and the general public. The adoption of IT assists employees primarily IT professional to keep up with social media, online newsletter and other platforms about external communication for its survival.
It promotes marketing and business growth: most companies have opted for a digital marketing plan by conducting much of their purchasing in a digital manner. However, digital marketing needs technology support teams to execute and troubleshoot different types of software used by a given business. It involves concepts such as blogging, search engine optimization (SEO), social media targeting and website development which allows companies to plan, adopt and develop. The IT also assists in simplifying and opportunities by use of software designed to keep metrics of marketing over time.
It enhances decision making: IT helps in streamlining and strengthening decision-making process within a business through different ways aimed at keeping track of marketing conditions, financial resources, and customer satisfaction. Therefore, by having a good IT plan, businesses can easily access such data thus making it possible for companies to assess the most viable steps they should take for the purpose of making the necessary improvements and attain set goals. Digital data collection also eradicates some of the fact-checking businesses ought to conduct to prevent common human error. It enables decision makers to respond swiftly and confidently thus making the business grow tremendously over time.
It enhances the research capacity of business: a business that bears the technological capacity to explore new opportunities will always stay a step or more ahead of its rivals. For any business to survive, there is the need to grow and acquire new opportunities. The IT coupled with the internet makes it possible for companies to virtually travel to new markets thus helping in alleviating various uncertainties. For instance, the risks of establishing a factory overseas or the cost of an executive jet by providing an alternative.
It improves on business security: in the modern era, the majority of companies are subject to vandalism and safety threats. However, with the use of IT, organizations can protect private executive decisions, financial data and other proprietary statistics which yield competitive advantages. IT helps businesses to retain their ideas away from their competitors in a given industry. For instance, they can ensure that none of their forthcoming projects will be duplicated by their rivals by securing the accessibility of their computers with passwords hence being able to thrive.
- Requirements for application of IT into SCA
Cost-benefit analysis: it helps to ascertain the viability of acquiring new technologies. The cost of purchasing, installation, operating and monitoring and benefits associated with IT should be clearly shown to ensure an efficient and advantageous integration of IT into the company’s activities.
Planning: it provides an organization’s management with the information it requires to make sound decisions concerning the allocation of resources in a manner that will ensure the business achieve its objectives. The company needs to formulate a feasible framework that will facilitate the efficient and successful integration of the different IT aspects into its operations. For instance, it is necessary for the company to priories the acquisition of IT equipment based on their value. The stations and space for such equipment should be adequate before their purchase and installation. They include satellites and boosters among others. A team of IT experts should also be put on standby always.
Designing: there is the need to structure the IT equipment and concepts in such a manner that they will fit into the company’s systems. The IT should be designed to meet the needs of its customers in the markets.
Equipment acquisition: it is also essential for the company to get the IT related equipment such as staff printers, computers, satellites, cameras and tablets among others to make the use of IT a practical idea through the firm’s operations…Read More
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Information Technology (IT) for Business
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