Corporate strategic objectives assignment

What are the strategic objectives that firms try to achieve by investing in information systems and technologies? For each strategic objective, give an example of how a firm could use information systems to achieve the objective. Please be specific

● Customer and Supplier Intimacy-Question to be answered

● Improved Decision Making-Question to be answered

INSTRUCTIONS

For each question/problem generate an answer/solution using the PEAS model and Bloom’s Taxonomy as the basis for your work.  As for length, your report should be just long enough to make a complete and convincing argument and not one word longer.

There are many ways to present information in a business setting.  Given the problem to be solved, some are more efficient and effective than others.  For each team exercise, take a minute with your team to discuss the most effective and efficient way to present the information.  Examples of different ways to present information include, but are not limited to:

• Essay
• Memo
• Bullet points
• Tables
• PowerPoint decks
• Spreadsheets
• Charts/Graphs
• Graphics
• Podcast (audio)
• Video
• Combinations of all or some of the above

Regardless of which presentation style you choose best practices must always be followed.

What are the strategic objectives that firms try to achieve by investing in information systems and technologies? For each strategic objective, give an example of how a firm could use information systems to achieve the objective.  Please be specific

What are the strategic objectives that firms try to achieve by investing in information systems and technologies?

The strategic objectives firms try to achieve by investing in information systems and technologies are operational excellence, new products, services and business model, customer and supplier intimacy, improved decision making, competitive advantage, and survival (Laudon & Laudon, 2020).

• Operational excellence-Isabelle

The following are cited as key areas that determine operational excellence through IT governance. (Thorn, 2006)

• Quality management
• Balance scorecard
• Risk management
• Skills management
• Project and portfolio management
• Service management
• Enterprise Architecture
• Information security management
• Audit management
• IT performance and value management

Operational excellence refers to an “overall management philosophy, whereby the leadership continually strives to maintain high standards of efficiency, co-ordination, communication and problem solving both within and without the organization.”

We can measure our success within Operational Excellence by seeing how effective the teamwork, innovation, and empowerment are within a firm. (JL Admin, 2014)

Information systems give us a tangible way to measure those important aspects of firms.

https://shingo.org/model/

Insight #2

Purpose and Systems Drive Behavior

It has long been understood that our beliefs have a profound effect on our behavior. What is often overlooked, however, is the equally profound effect that systems have on behavior. Most of the systems that guide the way people work in our companies were designed to create a specific business result without regard for the behavior that the system consequentially drives. Many systems are de-facto systems that have evolved in response to a specific need for a particular result. Managers have an enormous job to realign both management and work systems to drive the ideal behavior required to achieve ideal business results.

(Shingo Model)

FedEx left hand turns

• New products and services – Alexa
  • It is vital that businesses have a growth mindset, as they carry on daily functions, new or updated products and services should be continually incorporated. As new products or services are introduced, businesses have the opportunity to meet a very fast growth potential which would provide a means for steady growth business turnover (“MIS – Strategic Business Objectives”).
  • Example: In 2017, Acura released a new range of cars called the TLX series.  Through this launch, Acura used influencers to help pull potential customers their way.  This being said, the Acura TLX range has brought a lot of success to the business as a whole (Dumas).
  • Business Model – Jacob
• Customer and Supplier Intimacy – You should answer this point
• Improved Decision Making – You should answer this point