Chapter 9 Enterprise systems integrate data and information and support business

Question

Chapter 9

Enterprise systems integrate data and information and support business processes. Identify three accounting and financial processes that enterprise systems support.

In one paragraph, explain how enterprise systems provide value for businesses.

Customer relationship management involves the interaction with customers in sales, marketing and service. Explain how CRM helps a company to maintain a competitive advantage, especially in a global market.

How do companies use Social CRM?

Chapter 10

Define the term E-Commerce.

E-Commerce has grown rapidly. Explain these two terms that apply to E-Commerce: ubiquity and global reach.

Define the term digital goods. Identify one item that you have purchased or obtained digitally over the last year.

Name and describe the three categories or types of electronic commerce.

Explain what is meant by the term “wisdom of crowds.” How does this relate to marketing?

Explain how the “social graph” or social relationships affect marketing and e-Commerce.

Explanation / Answer

Both question from chapter 9 and from chapter 10 are independent and separate. So as per rule I am answering questions from chapter 9. I will answer all parts of question from chapter 9.

Chapter 9;

Three accounting and financial processes that enterprise systems support are as follow;

1. Cash management

2. Financial reporting

3. Credit management etc.

How enterprise systems provide value for businesses?

Data of enterprise systems is used by the organization for managing its various functions like sales, production, purchases, human resource managemnt etc. Thus enterprise system helps an organization in managing all these functions smoothly and improves efficiency of all these functions. So as a result overall value for the business will improve.

Apart from this we also know that enterprise system will improve the co-ordination & controlling between various functions of the business. So it will helps in the maximizing the values for a business.

Explain how CRM helps a company to maintain a competitive advantage, especially in a global market?

CRM (Customer Relationship Management) is a system in which a company interact with its customers. So main purpose of this CRM is to maximizing the sales and market share of a company.

If a company uses CRM efficienty and maintains a good customer relationship then company will be well known about the needs and wants of the customers, hence as a result company can manage its production & delivery process as per needs & wants of the customers. Thus as a result company will be in competitive advantage position in compare to other companies.

In case of global market, CRM helps a lot in taking competitive advantage because in case of international market (global market), it is much necessary to know needs & wants of the customers of other nations because untill a company does not have idea about the needs and wants of the customers then chances of fall in sales will be higher. And we know that CRM helps in knowing about the customers. Thus it is clear that CRM helps a company to maintain a competitive advantage specially in global market.

How do companies use Social CRM?

Every company know the importance of CRM, so these company uses CRM for knowing more about the customers and market pattern. Now a days there are many ways to use CRM.

·        Company can contact prospective customers directly for knowing their needs & wants.

·        Company can check feedbacks of the existing customers for knowing whether products & services are able to fulfill their needs.

·        Company can take help of social networking because now a days users of internet if increasing. So companies can interact with customers and prospective customers.

·        Companies can also know more about the customers from different types of trade fair, exibitions etc.

·        Companies can also take help of available data in the market like reports of various research institutions.

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