IT and Business Plans
You have decided to start your own business. Discuss how information technology could help you in formulating your ideas and plans about the business from your initial spark to the day that you open for business.
Just do response each posted # 1 to 3 down below only
Posted 1
When thinking about starting my dream business of an all-natural hair care line I think of all the people I will help and the pride I will feel and more so, instill in young girls. However, I didn’t think much about the business aspects and the details that can make my dream come true or give me nightmares. When diving into the particulars of starting a small business the major thing that stuck out was my ability to be able to manage my funds and my time effectively. The thing that astoundingly stands out to affect both of these areas is information technology. Bradley (12/2017) states that 50% of America’s small businesses have trouble making it in their 4th year and even less make it to the 5th. This makes choosing the correct technology imperative.
Getting my team together will be my biggest challenge but an important 1st step for success. Secondly, taking advantage of beneficial tech advances already available will aid in my process. Things like not needing an actual office space as it is commonplace to meet in a local coffee shop where there’s internet connectivity. Or with online shopping on the rise to being the prominent choice of today’s consumers. Getting my products in my customers’ hands is easier. While there is a lot of steps involved, utilizing information technology will help my chances to succeed; whether I’m automating processes to free up time, having a tech-savvy foundation to give a good employee & customer experience or just being smart with my money by investing it in the right technology. It’s clear that information technology will be the way to lessen my odds of being in the wrong 50%.
Posted 2
Before proceeding into this discussion, we must acknowledge the definition of information technology and information systems as put forth by (Rainer & Watson, 2014) in the book Management Information Systems. The authors indicate that information technology is any computer-based tool that is used by people in the workplace with information to aid the information and the information-processing needs of the organization. In my study of how to start a business, I have realized that information technology could help you in formulating my ideas and plans about the company from my initial spark to the day that I open for business from multiple standpoints.
First off, from the course readings, it is clear that the nature of connections between business plan formulation and information technology has been responsively explored. As such, the outcomes or suggestions indicate that variations in IT-strategy responsiveness are measured by the degree to which it is explicitly considered in business strategy formulation. Such strategies must be linked to my type of business and its objectives. For example, information technology is more of a responsive aspect, supposes my business strategy would be placing great emphasis on innovation with regards to the products and market strategies. So, in such a case, I would have to factor in IT as a strategic resource in formulating the business plans and actions.
IT has become the order of business in the contemporary world. Once I have to formulate my business plan and actions, from the start, I have to consider the fact that consumers are increasingly in the search for convenience of having many products delivered to them on demand and with regards to their preferences. I will have to consider IT integration in areas of production, operational aspects, marketing and the supply/ delivery aspects (Rainer & Watson, 2014). So, my business IT systems like apps on the GPS-enabled smartphones, to bypass the cost and need for warehouses and delivery fleets in the attempt to attend to my customers’ needs, especially those willing to pay for the things to run faster.
Posted 3
So I have decided to finally open up my own business. Before I can officially open up my new business I will need to
have things in place to ensure the success of the business. In order to be successful I believe in implementing Information
Technology to help me determine and understand the important factors tailored to my business. Using Information
Technology can help me decide on the location of the business, the best and most profitable products available in the market,
the best vendors near me, and the list goes on, the applications are nearly endless. Essentially in today’s world it is very
important and crucial to business survival. ” Because Information Technology is vital to the operation of modern businesses,
it offers many employment opportunities.” (Rainer & Prince 2014)
Once the business is up and running, it is also very important to stay up to date with the latest technology to ensure
that you are working with the best available options. Take IBM for example, we all know that it is a well recognized
company, and even they need to keep up with the ever changing technology. They came up with an application that helps
them maintain that edge, ” The application is an advanced natural language processing, information retrieval, knowledge
representation and reasoning, and machine learning technologies to the field of open domain question.”( Rainer & Prince) In summary, the
implementation of Information Technology is not only necessary to help formulate the start up of a business, but also to help
that very same business grow and expand to ensure its success.
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