Itm 309 Final Exam

Front 1

mini case/class discussion: What is personalization in effect with the internet?

Back 1

When a Web site knows enough about a persons likes and dislikes that it can fashion offers that are more likely to appeal to that person

Front 2

What is CRM and it's definition?

Back 2

Customer Relationship Management - The use of information technology to create a cross-functional enterprise system that integrates and automates many of the customer-serving processes in sales, marketing, and customer services that interact with a company’s customers.

Front 3

What are some of the benefits of CRM?

Back 3

• allows a business to identify and target their best customers so they can be retained as lifelong customers for greater and more profitable services.

• makes possible real-time customization and personalization of products and services based on customer wants, needs, buying habits, and life cycles.

•Keeps track of when a customer contacts the company, regardless of the contact point.
• CRM systems can enable a company to provide a consistent customer experience and superior service and support across all the contact points a customer chooses.

Front 4

CRM enables organizations to....

Back 4

-Provide better customer service

-Make call centers more efficient

- Cross sell products more effectively

- Help sales staff close deals faster

- Simplify marketing and sales processes

- Discover new customers

- Increase customer revenues

Front 5

What is RFM? and how does it's data help to find valuable customers?

Back 5

Recency - how recent did the customer purchase something?

Frequency - How often does the customer purchase things from the site

Monetary value - How much does each customer spend on each purchase

- companies can maximize their target segment by gaining valuable information

Front 6

What is operational CRM?

Back 6

it supports traditional transactional processing for day-to-day front-office operations or systems that deal directly with the customers

Front 7

What is analytical CRM?

Back 7

supports back-office operations and strategic analysis and includes all systems that do not deal directly with the customers.

Front 8

What are the 3 operational CRM categories and their technologies?

Back 8

Marketing
-list generator
-Campaign management
-Cross-selling and up-selling

Sales
- Sales management
- Contact management
- Opportunity management

Customer Service
- Contact Center
- Web-based self service
- Call Scripting

Front 9

What are the 3 marketing components of operational CRM Technologies and their definition?

Back 9

List generator – compiles customer information from a variety of sources and segment the information for different marketing campaigns

o Campaign management system – guides users through marketing campaigns

o Cross-selling and up-selling
• Cross-selling – selling additional products or services (adding an apple pie)
• Up-selling – increasing the value of the sale (super sizing)

Front 10

What is SFA and what does it do?

Back 10

Sales Force Automation - a system that automatically tracks all of the steps, in the sales process.

*focus's on increasing customer satisfaction, building customer relationships, and sales improvement by tracking all sales information.

Front 11

What are the 3 components of Sales with regards to Operational CRM Technologies?

Back 11

Sales Management systems - automates each phase of the sales process, helping individual sales representatives coordinate and organize all of their accounts

Contact Management systems - maintains customer contact information and identifies prospective customers for future sales.

Opportunity Management systems - target sales opportunities by finding new customers or companies for future sales.

Front 12

What are the 3 interfaces of Customer Service with regards to Operational CRM technologies?

Back 12

Contact Center - (call center) - where a customer service representative answers customers inquiries and responds to problems through a number of different customer touch points

Web-Based (self service) - allows customers to use the web to find answers to their questions or solutions to their problems

Call Scripting - Accesses organizational databases that track similar issues or questions and automatically generates the details for the (Call Service Rep) who can then relay them to the customer

Front 13

What are the 3 technologies assisting in CRM? *RAP

Back 13

CRM reporting technology – help organizations identify their customers across other applications

• CRM analysis technologies – help organization segment their customers into categories such as best and worst customers

• CRM predicting technologies – help organizations make predictions regarding customer behavior such as which customers are at risk of leaving

Front 14

What is ERP and it's definition?

Back 14

Enterprise Resource Planning - integrates all departments and functions throughout an organization into a single IT system (or integrated set of IT systems) so that employees can make enterprise wide decisions by viewing enterprise wide information on all business operations

Front 15

What are the 3 components of ERP and their definitions

Back 15

• Accounting and finance – manages accounting data and financial processes within the enterprise with functions such as general ledger, accounts payable, accounts receivable, budgeting, and asset management

• Production and materials management – handles the various aspects of production planning and execution such as demand forecasting, production scheduling, job cost accounting, and quality control

• Human resource – tracks employee information including payroll, benefits, compensation, performance assessment, and assumes compliance with the legal requirements of multiple jurisdictions and tax authorities

Front 16

What are the 5 Main (book) benefits of ERP?

Back 16

1.Integrate financial information

2.Integrate customer order information

3.Standardize and speed up manufacturing processes

4.Reduce inventory

5.Standardize human resource information

Front 17

What are the 4 beneficial components of ERP and their definitions?

Back 17

Quality and Efficiency – ERP creates a framework for integrating and improving a company’s internal business processes that results in significant improvements in the quality and efficiency of customer service, production, and distribution

• Decreased Costs – Significant reductions in transaction processing costs and hardware, software, and IT support staff

• Decision Support – Provides vital cross-functional information on business performance quickly to managers to significantly improve their ability to make better decisions in a timely manner

• Enterprise Agility – ERP breaks down many former departmental and functional walls of business processes, information systems, and information resources

Front 18

What are the 3 Core ERP components?

Back 18

CORE:

Accounting and finance
Production and Materials Management
Human Resource

Front 19

The combination of what 3 applications provide the backbone of e-business?

Back 19

SCM (supply chain management)

CRM (customer relationship management)

ERP (enterprise resource planning)

Front 20

What is used to bridge the gap between two ERP applications?

Back 20

Middle ware or EAI (enterprise application integration middle ware)

- takes output from one program and integrates it into another one in order to maximize output/productivity

Front 21

ERP technologies must be what 4 things in order to effectively improve a business?

Back 21

Flexible

Modular and Open - things can be added or taken away for improvement

Comprehensive - must support a variety of organizational functions

Beyond the company - must connect to online and other business partners (to share info)

Front 22

What are the costs and risks involved in ERP?

Back 22

• Costs:
o Reengineering 43%
o Data Conversions 15%
o Training and Change Management 15%
o Software 15%
o Hardware 12%

• Risks:
o Software costs
o Consulting fees
o Process rework
o Customization
o Integration and testing
o Training
o Data warehouse and integration conversion

Front 23

What are the 4 Extended components of ERP?

Back 23

Extended:

Business intelligence

Customer Relationship Management

Supply Chain Management

E-Business

Front 24

What is the definition of a Core ERP component?

Back 24

traditional components included in most ERP systems and they primarily focus on internal operations

Front 25

What is the definition of an Extended ERP component?

Back 25

extra components that meet the organizational needs not covered by the core components and primarily focus on external operations

Front 26

What is KM? what is Explicit and Tacit?

Back 26

Knowledge Management

Explicit Knowledge is knowledge that can be documented, archived, and coded so it can be integrated into the system

Tacit Knowledge is knowledge contained in peoples heads

Front 27

What is a Collaboration System?

Back 27

supports the work of teams by facilitating the sharing and flow of information

Front 28

What is a core competency?

Back 28

an organization’s key strength, a business function that it does better than any of its competitors

Front 29

What is a core competency strategy?

Back 29

organization chooses to focus specifically on its core competency and forms partnerships with other organizations to handle nonstrategic business processes

Front 30

Organizations create and use teams, partnerships, and alliances to...?

Back 30

Undertake new initiatives

Address both minor and major problems

Capitalize on significant opportunities

Front 31

What is an information partnership?

Back 31

occurs when two or more organizations cooperate by integrating their IT systems, thereby providing customers with the best of what each can offer

Front 32

We must do what in order to create a Fast, Efficient, and Low-Cost Network of Business Relationships?

Back 32

Minimize Joint Costs - costs endured by both companies

and

Improve Service - which adds value to the customer

Front 33

What is the Primary Focus of ERP and who uses it?

Back 33

ERP is designed to fully integrate the business into an electronic system that will help improve business across many if not all divisions of the business

The users are the people within the business, other businesses, and down to the customer through various forms communication

Front 34

What was HP's problem when integrating their operations into a centralized ERP known as SAP?

Back 34

HP had unforeseen glitches in their order-entry program that lead to LARGE backups that couldn't be handled by the small amount of staff they had.

It took a few weeks to fix the glitch resulting in a 40 million loss in revenue which cost more than the project itself (30 million)

Front 35

What is a SDLC?

Back 35

Systems Development Life Cycle - The overall process for developing information systems from planning and analysis through implementation and maintenance

Front 36

What are the 7 phases in the SDLC?

Back 36

1. Planning

2. Analysis

3. Design

4. Development

5. Testing

6. Implementation

7. Maintenance

Hint 36

PADDTIM

Front 37

What is the planning phase in the SDLC?

Back 37

involves establishing a high-level plan of the intended project and determining project goals

Front 38

What is the Analysis phase in the SDLC?

Back 38

involves analyzing end-user business requirements and refining project goals into defined functions and operations of the intended system

o Business requirement – detailed set of business requests that the system must meet in order to be successful

Front 39

What is the Design phase in the SDLC?

Back 39

involves describing the desired features and operations of the system including screen layouts, business rules, process diagrams, pseudo code, and other documentation

Front 40

What is the Development phase in SDLC?

Back 40

involves taking all of the detailed design documents from the design phase and transforming them into the actual system

Front 41

What is the Testing phase in SDLC?

Back 41

involves bringing all the project pieces together into a special testing environment to test for errors, bugs, and interoperability and verify that the system meets all of the business requirements defined in the analysis phase

Front 42

What is the Implementation phase in SDLC?

Back 42

involves placing the system into production so users can begin to perform actual business operations with the system

Front 43

What is the maintenance phase in SDLC?

Back 43

involves performing changes, corrections, additions, and upgrades to ensure the system continues to meet the business goals

Front 44

What is the difference between Extreme Programming Methodology and The Waterfall Method?

Back 44

The waterfall method develops a step by step plan one process at a time, one cannot continue without another. (sometimes software can become outdated) before integration is complete

The Extreme Programming Method allows for bits and pieces of the business to be coded one thing at a time and at the end every piece fits together like a jigsaw puzzle

Front 45

What are some of the challenges that a business faces while developing and integrating a ERP technology?

Back 45

•Systems development is difficult and risky.

•Many projects are never finished

•Some projects finish 200 or 300 percent over budget.

•Some projects finish on schedule and within budget but do not meet their goals.

Front 46

What are some of the issues involved with Waterfall Methodology?

Back 46

• Primary reasons for project failure include
o Unclear or missing business requirements
o Skipping SDLC phases
o Failure to manage project scope

• Scope creep – occurs when the scope increases

• Feature creep – occurs when extra features are added
o Failure to manage project plan
o Changing technology

• Systems development seldom works so smooth.

• There is sometimes a need to crawl back up the waterfall.

• Difficulty of documenting requirements in a usable way.

• Scheduling and budgeting is difficult especially for large projects with large SDLC phases.

Front 47

What is RAD methodology and some of its attributes?

Back 47

Rapid application development methodology (RAD) – emphasizes extensive user involvement in the rapid and evolutionary construction of working prototypes of a system to accelerate the systems development process

• The prototype is an essential part of the analysis phase when using a RAD methodology

• Prototype – a smaller-scale representation or working model of the users’ requirements or a proposed design for an information system

Front 48

What is Prototyping?

Back 48

• The rapid development and testing of working models of new applications in an interactive, iterative process.

• Sometimes called rapid application design (RAD).

• Simplifies and accelerates systems design

Front 49

What happened to Toyota? Why did it happen? and how did Cooper (CIO) solve the problem?

Back 49

Toyota was experiencing a very large drawback when trying to successfully operate between the business sector and the Information center across the way.

Front 50

What is Project Management?

Back 50

the application of knowledge, skills, tools, and techniques to project activities in order to meet or exceed stakeholder needs and expectations from a project

Front 51

What is a project plan and its attributes?

Back 51

a formal, approved document that manages and controls project execution

o Easy to understand and read

o Communicated to all key participants

o Appropriate to the project’s size, complexity, and criticality

o Prepared by the team, rather than by the individual project manager

Front 52

What is a project deliverable?

Back 52

any measurable, tangible, verifiable outcome, result, or item that is produced to complete a project or part of a project

Front 53

What is a project milestone?

Back 53

represents key dates when a certain group of activities must be performed

Front 54

What is a project manager?

Back 54

an individual who is an expert in project planning and management, defines and develops the project plan, and tracks the plan to ensure all key project milestones are completed on time

Front 55

What are the SMART metrics involved with project objectives?

Back 55

Specific
Measurable
Agreed upon
Realistic
Time framed

Front 56

What is risk management?

Back 56

the process of proactive and ongoing identification, analysis, and response to risk factors

Front 57

What are the 4 elements of risk management?

Back 57

Risk identification - Determining which risks might affect the project and documenting their characteristics

Qualitative risk analysis - Performing a qualitative analysis of risks and conditions to prioritize their effects on project objectives

Quantitative risk analysis - measuring the probability and consequences of risks as well as estimating their implications for the project objectives

Risk response planning - Developing procedures and techniques to enhance opportunities and reduce threats to the project's objectives

Front 58

What are some common project risk factors?

Back 58

- changing business circumstances that undermine expected benefits

- Reluctance to report negative information or to "blow the whistle" on a project

- Significant change in management issues including resistance to change

- The rush to get a project done quickly, often compromising the end result and desired outcome

- Executives that are unwilling to admit fault on a strongly wedded project

- IT overengineering that displaces workers with IT solutions

Front 59

What are the 5 steps for successful project management strategy?

Back 59

1. Define project success Criteria

2. Develop a solid project plan

3. Divide and conquer

4. Plan for change

5. Manage project risk

Front 60

What is Change management?

Back 60

• The process of building the capacity, capability, and will of an organization…

• To move from an entrenched current state to a unfamiliar future state…

• Then leading them through and sustaining them in that change.

Front 61

What are the 8 steps in Change Management process?

Back 61

• Create a change vision

• Define a change strategy

• Develop leadership

• Build commitment

• Manage people performance

• Deliver business benefits

• Develop culture

• Design organization

Front 62

What are the 6 main reasons for Project Failure?

Back 62

• Poor planning or poor project management

• Change in business goals during project

• Lack of support from business management

• Lack of resources

• Lack of support from IT management

• Change in technology during project

Front 63

What is the definition of outsourcing?

Back 63

an arrangement by which one organization provides a service or services for another organization that chooses not to perform them in-house

Front 64

What are the 5 drivers of outsourcing?

GIGTD

Back 64

• Globalization

• The Internet

• Growing economy and low unemployment rate

• Technology

• Deregulation

Front 65

What are some of the benefits of outsourcing?

Back 65

• Increased quality and efficiency

• Reduced operating expenses

• Outsourcing non-core processes allows focus on core competencies

• Reduced exposure to risk

• Service providers economies of scale, expertise, and best practices

• Access to advanced technologies

• Increased flexibility

• Avoid costly outlay of capital funds

• Reduced headcount and associated overhead expense

• Reduced frustrations and expense related to hiring/retaining employees

• Reduced time to market for products or services

Front 66

What are the 3 options of outsourcing?

Back 66

Onshore

Nearshore

Offshore

Front 67

What are the challenges that people face when outsourcing?

Back 67

• Contract length
o Difficulties in getting out of a contract
o Problems in foreseeing future needs
o Problems in reforming an internal IT department after the contract is finished

• Competitive edge
- IT edge can be lost in outsourcing

• Confidentiality
- information stored within outsourced information is at risk of being obtained and used by the other company

• Scope definition

Front 68

what are the primary foci for executing outstanding Customer relationship management in the healthcare industry?

Back 68

Who is the customer
Where is the customer

NOT who is the salesmen assigned to the customer