Functional Business Systems and Important Applications - Free Essay Example

Sample details Pages: 4 Words: 1146 Downloads: 9 Date added: 2017/06/26 Category Business Essay Type Analytical essay Did you like this example? Functional Business Systems The advancements in technology and the internet have significantly enhanced the manner by which corporations do businesses nowadays. In this regard, most of the corporations have adopted measures to incorporate the same into their operations. As such, the term e-business has been introduced (Rainier Ciegelski, 2012). Generally, e-business pertains to the term often used in order to describe the use of the internet, networks and other pertinent technologies to support e-commerce, enterprise communication, collaboration and business processes that are web-enabled. This paper generally discusses the most common business applications that are incorporated into the e-business system (Rainier Ciegelski, 2012). The chapter generally identifies three important business applications, to wit: (1) enterprise application integration, (2) transaction processing systems and finally, (3) enterprise collaboration systems. The aforementioned app lications have numerous advantages and disadvantages to the business process. One of the most significant and obvious advantages of the aforementioned business applications pertains to the fact that it enhances the business processes (Rainier Ciegelski, 2012). In fact, these applications serve as a foundation to improve business processes such as the customer relationship management, enterprise resource planning and supply chain management. For instance, the enterprise application integration is considered of paramount importance to the business in view of the fact that it enables the company to share pertinent information throughout the entire structure in order to effectively improve the efficiency and the effectiveness of the business processes (Rainier Ciegelski, 2012). Furthermore, it has also been pointed out that the said application is also crucial to provide essential support to business processes that are necessary to the operations of business. Aside from enterprise application integration, another important application pertains to transaction processing system. Basically, transaction processing systems play an important role in businesses that are web-enabled. This is advantageous to the businesses in view of the fact that the fact that they provide superior service to the customers and the other trading partners. Finally, enterprise collaboration systems are also beneficial to the corporations in such a way that it enables them to work more easily and effectively, enabling the people to communicate, coordinate and collaborate (Rainier Ciegelski, 2012). Notwithstanding the numerous benefits associated with the implementation of information systems in the different organizations, it is undeniable that the same is likewise accompanied by various ethical dilemmas. Undeniably, computer technologies have significantly changed the manner by which pertinent data are gathered, stored, manipulated and communicated. More significantly, it has als o been mentioned that in this information age, most economic activities are based on advancements in technology. As a result, ethical and juridical issues surface with respect to the right of privacy as well as those in relation to the protection of intellectual property. There is no question that information systems are crucial to global businesses today in view of the numerous advantages related to the same. Without a doubt, global businesses benefit extensively from the adoption of information systems as it enhances the efficiency of the same, ensuring the high quality performance of the same which in turn results in the eventual success of the firm. Aside from this, information systems also aid businesses today as they operate in a global level. As previously mentioned, there are numerous costs that are associated with operating on a global level which could threaten their stability. Nevertheless, such information systems help in terms of bringing down the said costs. Unfortu nately, the use of information systems and other technological advancements could result in numerous disadvantages pertaining to the privacy of the employees and other substantial issues as regards the same. However, given the numerous advantages that global businesses can reap from the adoption of information systems, the former are advised to come up with various ways by which such problems can be addressed to maximize the benefits of the same (Rainier Ciegelski, 2012). Unfortunately, the said applications can also be disadvantageous to the corporations. Parenthetically, the disadvantages lie on the fact that the same results in added expenses for the corporations that adopt the same (Rainier Ciegelski, 2012). Aside from this, it has also been pointed out that the same also results in numerous problems for the corporations, exposing them to risks and problems that could threaten their businesses and relationships with their respective customers. In addition thereto, there are also numerous issues that the company may face as regards the incorporation of such e-business applications into their operations. Apparently, not all employees or members of the organization are ready for the incorporation of such into the system. In this sense, there is a need to plan for the proper implementation of e-business applications. Furthermore, the importance of planning is also attributed to the fact that it would enable the corporations to maximize the benefits of using e-business applications whilst reducing the risks associated therewith (Rainier Ciegelski, 2012). The importance of planning to businesses in modern times is undeniable. In its simplest sense, planning pertains to the decision that managers undertake in determining what they must do in advance, how to do the same, when to do it and finally, the role that people within the organization must play in order to achieve the same. Thus, planning commonly begins with the identification of the objectives of a certain company (Rainier Ciegelski, 2012). Parenthetically, their failure of the organization to identify such objectives would result in their ability to commence with the process of planning. It is therefore in this regard that planning is considered as the main function of the management. Thus, all the other functions of the management such as the organization, staffing, direction and controlling of the organization. As mentioned, planning is the primary and the most important function of the people that are responsible with the management of the organization. In this regard, planning is considered essential in all aspects of the organization as the absence thereof would render the latter meaningless. Researchers also consider the following as the main purposes of planning: (1) planning provides direction, (2) planning reduces uncertainty, (3) planning minimizes waste and redundancy and lastly, (4) planning helps in setting the standards used for the effective control of t he organization. However, while planning is considered as an important aspect of the organization, the same is commonly criticized in view of its tendency to impose limitations upon the proper functioning of the organization. According to various researchers, it is through the proper understanding of such limitations that the managers could ensure that the effectiveness of the plans that they have formulated (Rainier Ciegelski, 2012). The importance of planning is also associated with the fact that the failure to achieve the same would result in the eventual downfall of the incorporation of e-business applications into the operations of a particular company. Clearly, such failure would be detrimental to the business as it could effectively ruin the same. Reference Rainier, R. Ciegelski, C. (2012). Introduction to information systems: enabling and transforming business. UK: John Wiley and Sons. Don’t waste time! 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Workplace Diversity Communication between Management and...

Workplace Diversity: Communication between Management and Employees Workplace challenges come in many forms. One of those challenges is communication, whether verbal or nonverbal, between co-workers or between management and employees. Businesses currently are being affected by communication issues that are hindering production, satisfaction, and employee retention (Salahuddin, 2010). Communication is a vital key to effective and good management. Face-to-face communication is always the best way to talk to your employees but that may not always be possible, so a combination of verbal and nonverbal communication may be the best practice for your company (Chazanof, 1998). Too many companies rely solely on newsletters, bulletins, and†¦show more content†¦Making sure all employees have an employee handbook, a current job description of their position, holding regular meetings, face-to-face communication with employees, and ensuring yearly performance reviews are all great ways to communicate effectively with employees (McNamara, n.d.). McNa mara (n.d.) suggests that employers discover which type of communication works best for their companies to make their employees feel more involved with their company and to encourage them to communicate with management to avoid future problems. Give employees opportunity to provide feedback to their management team on a regular basis. The workplace is full of different leadership styles and generational differences that affect communication. The workforce has four distinct generations, and each generation has a different way of communication, which often causes havoc with management trying to hold together an age diverse environment (Salahuddin, 2010). Even though there will always be general disconnect between generations, understanding how each generation communicates will help management effectively manage and communicate with their employees. The four working generations are the Veterans 1922 – 1943, the Baby Boomers 1943 – 1960, Generation Xers 1960 – 1980, and Generation Nexters 1980 – 2000. Salahuddin (2010) says, â€Å"Generation Xers are leading Boomers, Boomers are leading Veterans, and Nexters areShow MoreRelatedThe Best Practices Diversity Management And How Do They Improve Organizational Performance?924 Words   |  4 PagesOlaitan Okusaga HRM 350 Cross Cultural Communication Essay Dec 29, 2014 Topic: What are some of the best practices in diversity management and how do they improve organizational performance? Introduction As we enter the new phase of modern labor, diversity in the workforce is rapidly increasing. This wave of multiculturalism is here to stay and cannot be ignored by the present workers or students that are preparing to take charge of the future workforce. It is in need of attention in orderRead MoreOrganizational Structure Of An Organization1130 Words   |  5 Pagesare assigned, controlled, coordinated and how information flows between the different levels of management. In an organizational workforce environment, there are several levels of management, such as managers, supervisors, team leads and coordinators. Their responsibilities are to know why organizational changes are necessary and they must effectively communicate that to the workforce to implement and sustain change. 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Growth Scenario of New Zealand-Free-Samples-Myassignmenthelp.com

Questions: 1.Bloxham claimed that New Zealand was the fastest growing of the 34 OECD economies in the last year. State the latest annual growth rate available for New Zealand and Australia and work out how many years it would take for New Zealands per capita GDP to overtake that of Australias? 2.New Zealand is considered a rock star Economy. Using the Income Accounting identity explain which sectors have performed well. 3.The Closer Economic Relations (CER) deal signed by Australia and New Zealand is considered a key element of which type of Economic Policy Consensus? 4.Explain the effects of the mining boom on the Australian Economy. Answers: 1.New Zealand, one of the members of the OECD countries, has been experiencing impressive economic growth in the recent periods. The growth rate of GDP of this country has increased from 2.5% (2015) to 3.1% (2016), with the GDP rising to USD 182 billion (2016) from USD 173 billion (2015). The per capita GDP of the country also showed substantial growth from $37,294 in 2015 to $38,320 in 2016 (Dailytelegraph.com.au, 2017). On the other hand, Australia has remained a consistent performer in economic growth scenario. The countrys GDP has increased from 1,230 billion dollars in 2015, to 1,260 billion dollars in 2016. However, the growth rate of GDP has slowed in the current years from 2.4% (2015) to only 2.5% (2016). The per capita GDP has increased from 51,363 USD in 2015 to 51,878 USD in 2016 (Data.worldbank.org, 2017). The growth rate of per capita GDP for the two countries can be calculated by using the following formula (Pitt.edu, 2017): Growth Rate of per capita GDP = GDP per capita of Year (2015) GDP per capita of Year (2016) Therefore, the growth rate of GDP per capita of New Zealand, = (38,32037,294) -1 = 0.027 = 0.03 (3% Approx) The growth rate of GDP per capita of Australia, = (51,878-51,363) -1 = 0.01 (1% Approx) To calculate the period of time both the countries will take to double the growth rates of per capita GDP, the Rule of 70 can be used. However, this formula cannot show the time period New Zealand will take to over-take the per capita GDP of Australia. To calculate that, the following method can be used (Pitt.edu, 2017): Future Value (FV) of GDP per capita = Current Value of GDP per capita (1+ GR)n [Where, GR = Current Growth Rate of GDP per capita and n = Number of years in future] Using the above formula the following statistics can be noticed for both the countries: FV for New Zealand = 38,320*(1+0.03)n FV for Australia= 51,878*(1+0.01)n n Australia New Zealand 15 60,228 59,701 20 63,301 69,210 Therefore, it can be concluded from the above growth statistics that New Zealand will over-take the per capita GDP of Australia within fifteen to twenty years from the current time. 2.Over the recent years, New Zealand has shown an impressive growth in its economy, with the growth rate of GDP being 3.1% in 2016, which is more than almost majority of the OECD countries. This growth is a cumulative effect of the growths in different sectors of the economy, which can be studied with the help of the National Income Accounting Method (Johnson and Noguera 2012): The components of GDP of a country at a particular point of time are as follows: C Private Consumption Expenditure in the economy I Private Investment Expenditure in the economy G Public or Government Expenditure (Both Public Consumption and Investment are included this component) NX Net Exports (Exports Imports) Mathematically, GDP = C + I + G + NX [National Income Accounting Equation (Cooper, Edey and Peacock 2013)] The sector wise growth scenario of New Zealand is discussed below: C- In the recent period, the nominal value of the private consumption expenditures has not increased considerably in the country. However, the real value of consumption has increased comparatively at a higher rate. This implies that the consumption pattern has not changed substantially in the country (Fairburn 2013). I- During recession, the private investment expenditures in the country, fell considerably, to 15.1% of the Real GDP of the country. However, post recession the investment expenditures gained pace and investment consists of 18.7% of the Real GDP of New Zealand in the recent years (Downes, Hanslow and Tulip 2014). G- Compared to the private consumption expenditures, the public consumption expenditures expanded at a much higher rate in the country, indicating a major change in the pattern of public consumption over the years. However, the public investment did not show any impressive growth, in the current period; it consists of 21% of Real GDP of the country, which is lower than 21.6%, the average for the last two decades (Parkyn and Vehbi 2014) . NX- The trade sector of New Zealand improved largely after the country experienced Liberalization in the external sector, facilitating easy exports and imports. Post 1980s, the country saw huge increase in the both the quantities of exports and imports. However, the increase in the volume of imports was much higher than the increase in the volume of exports, indicating that the country gained capability of importing more goods and services (especially technological innovations) (Fabling and Sanderson 2015). From the above discussion, it is evident barring the private consumption expenditures and the public government expenditures, all other components of the GDP of New Zealand increased impressively in the recent years, contributing significantly to its huge economic growth and making it one of the fastest growing economies among the thirty-four OECD countries. 3.One of the most significant economic phenomena, witnessed by both Australia and New Zealand, which contributed significantly in shaping up the economy of both the countries and became one of the major reasons of their current prosperity, is the Closer Economic Relations (CER), which came into force in 1983. The CER was mainly a free trade agreement between both the countries, one of the most successful one of its kind (News.com.au, 2017). Under this agreement, the main policies taken were elimination of all types of price and non-price quotas, tariffs and any other trade restrictions that were present between the two countries, which were creating impediments on path of their economic growth (Kelsey 2015). The main objective behind this step was economic integration of two leading global economies and creation of a Single Economic Market, which implied that all the goods and services that can be bought in one of these two countries would also be available in the other country. Unde r this agreement, the residents of both New Zealand and Australia were enabled to move, work and live in any of these countries freely, which facilitated two way trades and employment significantly (Leslie and Elijah 2012). Due to this agreement, both the countries experienced significant growth their market shares in the global scenario, leading to a growth in their economy. With the advent of CER, many Australian entrepreneurs migrated to New Zealand and prospered hugely with time. The same also happened for entrepreneurs of New Zealand. The symbiotic growth relationships resulted in a more than eight to nine per cent growth of economy of both the countries (Kelsey 2015). New Zealand was specifically benefitted due to this agreement of free trade. Due to the creation of the Single Economic Market, it became immensely easy for businessmen of New Zealand to expand their business to Australia, thereby creating a huge exposure for their products and services, providing them a market almost the size of Queensland. Australia, on the other hand, became one of the biggest sources of the countrys FDI (Fairburn 2013). The economy of New Zealand prospered both ways, by gaining huge Australian markets and by draw ing huge investments from the country, contributing to the GDP of New Zealand. Therefore, CER is evidently one of the primary contributors in the fast and impressive economic growth of New Zealand in the recent periods (News.com.au, 2017). 4.Australia experienced a mining boom of enormous magnitude at around 2003, which was a result of a sudden upsurge in the demand of ores, especially iron ores, in the global market and specifically in China and some other Asian countries. This huge demand hike, increased the price of the goods, especially iron ores and the country experienced more than three times increase in the price of the iron ores that they produced in large quantities, within a decade (Downes, Hanslow and Tulip 2014). Like CER, the mining boom another significant phenomenon, this contributed substantially, in shaping up the economy of the country. The mining boom in Australia, not only raised the GDP and the GDP growth rate of the country, but also significantly contributed in raising the standard of living of the citizens as a whole. The main beneficiaries of this economic boom were the giants in the mining industry. However, the benefits also hugely percolated to the working class, who saw a massive increase in their nominal as well as real wages, employment and over all lifestyle. The private investment in the mining sector, increased from 2% to 8% during this period as more and more companies ventured in the industry (Langton and Longbottom 2012). The effects of the boom in the mining industry in Australia withered away in the recent period. The primary reason behind this was a massive fall, in the demand as well as price of the iron ores, the country exported, in the international market. This, as a result, lead to a tremendous downsizing of the overall budget of the country (Downes, Hanslow and Tulip 2014). Over the years, due to the boom in the mining sector, this sector remained a major contributor in the countrys GDP and the country over-emphasized on this sector, with increasing investment on mining, sometimes at the cost of drawing resources from other sectors, which had potentials to prosper. Therefore, with the downsizing of the mining sector, the economic growth of the country experienced an overall slowdown (Langton and Longbottom 2012 References Cooper, R., Edey, H.C. and Peacock, A.T., 2013.National income and social accounting. Routledge. Dailytelegraph.com.au (2017).The Kiwis are on our economic tails. [online] Dailytelegraph.com.au. Available at: https://www.dailytelegraph.com.au/business/jessica-irvine/new-zealand-is-kicking-australias-economy/news- story/cdce93e5511f96f9b45a3406ddef4805 [Accessed 17 Aug. 2017]. Data.worldbank.org (2017).Countries | Data. [online] Data.worldbank.org. Available at: https://data.worldbank.org/country/ [Accessed 16 Aug. 2017]. Downes, P.M., Hanslow, K. and Tulip, P., 2014. The effect of the mining boom on the Australian economy. Fabling, R. and Sanderson, L., 2015. Export Performance, Invoice Currency and Heterogeneous Exchange Rate Pass?through.The World Economy,38(2), pp.315-339. Fairburn, M., 2013.The ideal society and its enemies: Foundations of modern New Zealand society, 1850-1900. Auckland University Press. Johnson, R.C. and Noguera, G., 2012. Accounting for intermediates: Production sharing and trade in value added.Journal of international Economics,86(2), pp.224-236. Kelsey, J., 2015.Reclaiming the future: New Zealand and the global economy. Bridget Williams Books. Kelsey, J., 2015.The New Zealand experiment: A world model for structural adjustment?. Bridget Williams Books. Langton, M. and Longbottom, J. eds., 2012.Community futures, legal architecture: foundations for Indigenous peoples in the global mining boom. Routledge. Leslie, J. and Elijah, A., 2012. Does N= 2? Trans?Tasman Economic Integration as a Comparator for the Single European Market.JCMS: Journal of Common Market Studies,50(6), pp.975-993. News.com.au (2017).Three things that make New Zealand better than Australia. [online] NewsComAu. Available at: https://www.news.com.au/finance/economy/three-things-that-make-new-zealand-better/news-story/efb745fbae40c0dd14e444cdeb60b3fd [Accessed 16 Aug. 2017]. Parkyn, O. and Vehbi, T., 2014. The effects of fiscal policy in New Zealand: Evidence from a VAR model with debt constraints.Economic Record,90(290), pp.345-364. Pitt.edu (2017).Bernanke - Chap. 8 -- Economic Growth. [online] Pitt.edu. Available at: https://www.pitt.edu/~mgahagan/Bern8.htm [Accessed 16 Aug. 2017]