Host Annual Meeting For Shaping The Future -Myassignmenthelp.Com

Question: Discuss About The Host Annual Meeting For Shaping The Future? Answer: Introduction The report discusses the future vision and benefits of implementation of IT in different business based on UAE. It explores, predicts and analyzes the future challenges and benefits of the implementation of IT in shaping the future of the business. The different strategies that are discussed in the report aims at seizing the opportunities and challenges in the lively sectors of UAE in analyzing the long-term proactive plans of proper implementation of information technology in business. The future of business includes the involvement of future technologies and smart systems in reshaping the standard and economy involved in the business. This should be coupled with developing a proper strategy in forecasting the opportunities, trends, challenges and future implications. This project would need improvement in employee collaboration and knowledge sharing on intranet for further increase in business processes. Information system will definitely help in reshaping the business processes in UAE. Emergence of mobile digital platform and growing use of big data in business along with the growth of cloud computing helps in developing a proper business strategy and further helps in effective decision-making (Sulayem, 2017). Therefore, this will definitely help in developing a proper business strategy and will further help in shaping the future of UAE. The report discusses the various advantages of using and implementing Information Technologies in different business sectors of UAE (Sundarakani, Tan Over, 2012). Implementation of IT further increases the globalization opportunities. This is because, with the advent of internet, the costs have been reduced drastically on a global scale, which results in increase in the number of foreign trade and outsourcing. The report discusses the different opportunities and challenges associated with the business design through information technology. The problem associated with the project, the business idea and the details of the imp lementation are elaborated in the following paragraphs. The Problem The problems associated with the absence of proper information technology in the business of UAE include the limitation in reaching in potential customers. IT helps in increasing the globalization of business, which in turn helps in reaching the potential customers. The problems associated with the shaping of business in UAE also relates to the lack of streamlining the different operations. Implementation of Information Technology in business may further help in improving the efficiency, reducing the cost and maximizing the profits related to the business reach and sales procedures. Absence of proper integration of operation results in the customer dissatisfaction thus, implementation of Information Technology is necessary in providing better services to the customer. It further helps the customers in better guidance of the business. The business based in UAE suffers little or no innovation as the advancement of technology is not properly utilized in the business purposes. Back in 19 80s, innovation was not considered to be an important affair but in todays world, it is a necessary need for any business (Soudani, 2012). Without the backbone of the use of proper information technology in business, it is very difficult for a business to survive and this is one of the primary problems associated with the business in United Arab Emirates. This problem can be eliminated with the proper implementation of the information Technology in reshaping the business design. Furthermore, although UAE offers a very conductive environment for setting up a business and associated business growth, the cost of setting up of a business is very high (Laudon, Laudon, 2016). Proper designing of the business with the implementation of Information Technology in business may further help in establishing a steady business and in business growth. With the introduction of IT in the business and redesigning, the business strategies may help in setting and maintaining a business in UAE easier a nd cost effective. This would further help in reaching a wider audience. Idea and need of implementing IT in business The implementation of proper management information system may help in increasing the effectiveness of business in UAE. With the advancement of technology, it became increasingly essential to incorporate information technology in integrating all the business process and business operations. For example, the use of a computer based database in a supermarket in keeping a track of the products that sells the best. This help in estimating the number or the type of product that has increasing demands. This would further help in enhancing the business processes and increasing the marginal profit of the store as well. Similarly, music store could make a use of internet to sell music CDs online. Proper implementation of management information system helps in generating reports from the set information system, which helps the manager and business executives rely on those reports for evaluating the daily business activities and the problems that may arise from the business. It will further hel p in effective decision making and tracking of the progress related to the business. Business of all sizes can make use of MIS in reporting and tracking the different business processes (Zikmund et al. 2013). Implementation of proper information system will help the business in collection of data automatically from various areas within a business. The presence of MIS systems helps in generating the on demand report, analysis of which may help in better business management. This is because the proper implementation of information technology helps in reaching the potential customers in developing proper business relationship with potential customers. It furthermore helps in streamlining the different operation and helps in reducing the costs associated with the maintenance of a business. Various researches prove that the implantation of information technology in business helps in maximizing the profit and minimizing the wastes related to the business. For example, implementation of an e commerce website proves to be advantageous in maximizing the profit as it helps in reaching a wider audience. E commerce website helps in providing better services to the customers. The cost of implementatio n of information technology is low as well. The initial cost of implementing IT includes the cost of hardware and software apart from the maintenance cost. Thus, use of IT in business can definitely act as a great help in redesigning the business processes (Emirates 247, 2017). Furthermore, the implementation of information technology helps in enhancing the decision-making and in supporting the re-engineering activities. The successful implementation of the information technology in business would definitely enhance the performance of activities, products, customers and other cost items associated with a business. However, defining the proper technological requirements is a primary requirement of redesigning the business. This would definitely have an increasing effect in shaping the future in United Arab Emirates. The increase in the efficiency of the business with the implementation of information technology will surely help in shaping the future. Efficient business processes and the ease of integration of different operations within the business may help in development and further growth in business. Information technology in business further helps in enhancing the communication between the employees and customers along with the creation of a new technol ogical niche. Furthermore, it will help in defining a more innovative strategy for achieving the business goals. Thus, it can be deduced that the need of Information Technology in managing the different processes of business is tremendous and therefore successful use and implementation of the same may further help in shaping the future in the UAE (Galliers Leidner 2014). This is particularly because of the enhanced business processes that will further lead to innovation of new business ideas and reaching the global audience. Therefore, the idea of shaping the future in UAE is linked with the proper implementation of Information Technology in various sectors of the business and developing new business strategies accordingly. Details of implementation of Information Technology in business For measuring the need and effectiveness of the implementation of information technology in business, different criteria are analyzed and evaluated. For example with the implementation of a computer system and an integrated database that will keep the track of the most sold items in a retail store, would need proper algorithm that will sort the most sold items from the database that manages the record of all the sold items throughout the day/month. The implementation of this simple add-on may bring a tremendous change in the business processes and will further help in effective decision-making. This is because, keeping a track of the most sold items helps in estimating and tracking the products, which are in demand. This may further help in increasing the customer satisfaction thus increasing the profits in the business (Baltzan, 2012). Use of an e commerce Website Similarly, involvement of an e commerce website may help a business in reaching a global audience. However, the implementation procedure of an e commerce website required a planned and a strategic approach in proper development of the website. The e commerce website is a trend in modern business as it helps the customers to access the websites and the products offered according to their convenience (Niranjanamurthy et al., 2013). This helps the business in reaching a wider audience, which includes global audiences as well. For development, implementation and launching of an e commerce website, a proper project management approach is necessary. Requirement gathering and planning the implementation of the project is the first phase if development of an e commerce website. The website should be attractive and appealing enough to gather the attention of the potential customers. Furthermore, it should incorporate every minute details of the product in the website so that it becomes easier for the customers in surfing through a range of different products and choosing a specific product. It furthermore helps in online marketing that increases the reach of the customers beyond the geographical boundary (Laudon Traver, 2013). Therefore, use of this process and technology will definitely help in shaping the future of business in United Arab Emirates. Introduction of ERP With the advent of management information system, the different business processes can be integrated for better management. For example, the use of Enterprise resource planning system for integrating the different operation of the business may further help in managing the different operations associated with the business in a more effective way. ERP is business management software that runs a suite of integrated applications used by an organization in collecting, storing, managing and interpreting the data associated with the business activities. The ERP software integrates the different functions associated with the different business operations and streamlines the different processes and the information across the entire organization (Tsai et al., 2012). The major feature of the ERP system is a shared database that supports multiple functionality, which is used by the different business units. This is an effective process of information management an automation of business. The fut ure of business definitely acknowledges the importance of business automation for increasing the ease and effectiveness of business management processes. This can be effective in redesigning the business processes as it allows the employees across the organization in accessing the shared data stored in a single database without the need of maintaining the manual records. A proper ERP system helps in generation of synchronized reports on different key business metrics. Proper implementation of ERP along with the involvement performance metrics helps in enhancing the business growth, which in turn help in business innovation. The difficulty in data access due to the involvement of different locations and systems can be eliminated with the implementation of ERP effectively (Monk Wagner, 2012). It further increases the transparency of data involved. The data security and data integrity is considered extremely important for ensuring a strategic business process. Furthermore, the data st ored in the ERP is maintained safely and the access to the data is given only to authorized persons. This information system further helps in eliminating the redundancies associated with the manual data keeping and thus increases the effectiveness of business operations. This helps in increasing the customers satisfaction as well. Customers satisfaction is maintained by keeping customer and inventory data housed on several platforms that can be accessed centrally. Thus, it is very clear that it will help in shaping the future of business in United Arab Emirates. Customer Relationship Management or CRM Another major use of Information Technology in shaping the different business processes includes the information system of customer relationship management. It is another widely used technology that companies make use of in managing and analyzing the customers interaction and data throughout a customer life cycle. This effectively helps in improving the business relationship with the customers, which in turn helps in customer retention. Different CRM tools such as CRM tools of marketing automation helps in enhancing the marketing efforts related to the customers at different points in the life cycle. It is therefore an effective approach in managing the interaction of the company with current and potential customers. The data analysis about the customers history with a company helps in improving the business relationships with the customer (Hussain, Al Nasser Hussain, 2015). The most important aspect of the CRM approach is that the different CRM systems compile data from different c ommunication channels, which may include companys website, telephone, email and live chat. CRM software is mainly responsible of controlling the process of business interaction with the customers and managing the sales figures, data finding and so on. Therefore, integrating this software with different business processes may definitely help in shaping the business in UAE. CRM is a crucial tool, which help in improving the business processes. In deals with strategic implementation of different ideas, this manages the customer relationship in a better way. It furthermore helps the business in hosting all the data about sales and customers. Analysis of these figures may further help in effective decision-making. Therefore, implementation of CRM in a business will be an effective consideration for shaping the future of UAE. Supply Chain Management Software Supply chain management software is another important software that can be integrated with the business in managing the business in a more effective way. This tool is generally used in executing different supply chain transactions and managing the relationships of suppliers and controllers of a particular business. Supply chain management deals with the flow of goods and services that are involved with the movement and storage of raw materials as well as work in progress inventory from the point of origin to the point of consumption. Therefore, it is one of the most important parts of the business that is needed to be considered and with the involvement of different supply chain management software; the process of supply chain management becomes even easier and effective. This software effectively manages the customer requirement processing, purchase of order processing, sales and distribution, inventory management, goods receipt and warehouse management. Supply chain management tool s effectively balance the disparity between the supply and the demand (Stadtler, 2015). Thus, use of Supply Chain management system as an integral part of the business management can help in shaping and redesigning the business processes within the system. Transaction Processing System Implementation of an effective transaction processing system may help in recording the daily transactions that are necessary to conduct a business. Such business processes includes sales order entry, payroll management, shipping of goods and so on. This system will help the manager in monitoring the status of operations and relations with the external environment. The efficient management of all the transactions helps in effective decision making as well. Therefore, this system can be incorporated in business for shaping the future of UAE (Romney Steinbart, 2012). Knowledge management system This is an effective system that can be implemented in enhancing the business processes. This system supports the process of capturing knowledge and applying the different means of expertise. It helps in collecting the internal knowledge and experience present within the firm to make it available for the employees. This further helps in enhancing the different business operations (Holsapple, 2013). Furthermore, it helps in establishing a link to the external sources of knowledge, which increases the integration and expedite the flow of information within the system. Therefore, this is one of the most important factors that are needed to be considered in shaping the future of the business in UAE (Hislop, 2013). Related work required Integration of the different information system in redesigning the business processes may help in shaping the future of UAE. For successful implementation of the same, extensive research and feasibility study about each software is required prior to its implementation. The software tools are further needed to be evaluated. This includes the evaluation of the different solutions that are available and analyzing the cost and benefits of available products as well (World Economic Forum, 2017). Another important consideration before initiating the implementation process of the different information software in business includes the evaluation of the different security risks associated with it. Different users should be consulted before implementation and the training issues should be evaluated as well. The areas of the business that need the implementation of the different information system are needed to be identified at first for successful implementation of the same. The development of these software needs adequate planning and time. Thereof, proper project management approaches are needed to be considered for successful implementation of the same (Kerzner, 2013). Different software can be customized according to the need of business and therefore it is to be implemented following a strategic approach and a steady plan (innovation, 2017). Agile project management methodology can be considered in development and implementation of the software as it involves thorough testing procedures. Furthermore, a detailed market analysis of the software and the benefits it offers should be considered before planning for the implementation of the software (Abrahamsson et al., 2017) Planned implementation with a strategic approach is necessary for shaping the future of UAE. The software discusses in the previous section can bring a revolution in the business processes and therefore should defiantly be considered in designing the business processes of UAE. Conclusion Therefore, from the above discussion it can be concluded that the strategic implementation of different business processes can bring a positive change in the business processes of UAE. With the advent of technology, the use of different management information systems in business is increasing. The report discusses the different advantages and benefits in business in using the different management information system in enhancing and integrating different processes in the business. The different strategies and the process of implementation of these software in thoroughly discussed in the report. The report clearly defines the process of enhancing the future of UAE by the implementation of information technology in integrating the business processes References Abrahamsson, P., Salo, O., Ronkainen, J., Warsta, J. (2017). Agile software development methods: Review and analysis.arXiv preprint arXiv:1709.08439. Baltzan, P. (2012).Business driven technology. McGraw-Hill/Irwin. Galliers, R. D., Leidner, D. E. (Eds.). (2014).Strategic information management: challenges and strategies in managing information systems. Routledge. Hislop, D. (2013).Knowledge management in organizations: A critical introduction. Oxford University Press. Holsapple, C. (Ed.). 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