MIS ASSIGNMENT An
MIS Assignment SUBMITTED TO
INDIAN INSTITUTE OF PLANNING AND MANAGEMENT(NEW DELHI)
In partial fulfillment of requirement for the award of the
Degree of
MBA(SINGLE SPECIALIZATION)
YEAR 2010-11
UNDER THE GUIDANCE OF Miss Brinda Nair Lecturer MIS
Submitted by: Avinash Gupta
ISBE-B FH1
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Q1. Define Information. What are the characteristics of good or
useful information? Can data for one person/phase be information
for another? How? Ans. Information is processed data. Information
is data that has been given meaningby way of relational connection.
This "meaning" can be useful, but does not have to be. In computer
parlance, a relational database makes information from the data
stored within it. Characterstics of good or usefull information:
Relevance: The information that a person uses must be relevant to
the current problem at hand. If the information is not relevant it
would not help to solve the problem at all. Complete: The
information must be complete. If the information is not complete
and only partial information is received, it may lead to wrong
decisions being made as only half of an entirety of the information
is known. Accuracy: The information must be accurate as unaccurate
information would lead to many different major problems as
unaccurate information for example, may lead to people playing the
stock market to lose alot of money. Current: The information must
be current as a fact of yesterday may not be a fact of today. For
example, a criminal on the loose the day before would not be a
criminal on the loose anymore if he gets caught today. As the stock
market is everchanging, current information is really a must.
Economical: The information used must be of economical use to
companies that use them. Companies are built to make profit, if the
information used is not economical it would result in companies
making losses and get shut down. That is why economical information
is important.
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Q2. Why is Information System important? Ans. 1. Operational
excellence: Business improve the efficiency of their operations
inorder to achieve higher profitability. Information systems are
important tools available to managers for achieving higher levels
of efficiency and productivity in business operations. A good
example is Wal-Mart that uses a RetailLink system , which digitally
links its suppliers to every one of Wal-Mart's stores. as soon as a
a customer purchase an item , the supplier is monitoring the item ,
knows to ship a replacement to the shelf. 2. New products,
services, and business models. Information system is a major tool
for firms to create new products and services, and also an entirely
new business models. A business model describe how a company
produces, delivers, and sells a product or service to create
wealth. Example: Apple inc transformed an old business model based
on its iPod technology platform that included;;[o iPod, the iTunes
music service, and the iPhone. 3. Customer/supplier intimacy. When
a business serves its customers well, the customers generally
respond by returning and purchasing more. this raises revenue and
profits. The more a business engage its suppliers, the better the
suppliers can provide vital inputs. This lower costs. Example: The
Mandarin Oriental in manhattan and other high-end hotels exemplify
the use of information systems and technology to achieve customer
intimacy. they use computers to keep track of guests' preferences,
such as their preffered room temperature, check-in time, television
programs. 4. Improved decision making. Many managers operate in an
information bank, never having the right information at the right
time to make an informed decision. These poor outcomes raise costs
and lose customers. Information system made it possible for the
managers to use real time data from the marketplace when making
decision. Example: Verizon Corporation uses a Web-based digital
dashboard to provide managers with precise real -time information
on customer complains, network performance.. Using this information
managers can immediately allocate repair resources to affected
areas, inform customers of repair efforts and restore service fast.
5. Competitive advantage.When firms achieve one or more of these
business objectives( operational excellence, new products,
services, and business models, customer/supplier intimacy, and
improved decision making) chances are they have already achieved a
competitive advantage. Doing things better than your competitors,
charging less for superior products, and responding to customers
and suppliers in real time all add up to higher sales, and higher
profits. Example: Toyota Production System focuses on organizing
work to eliminate waste, making continues improvements, TPS is
based on what customers have actually ordered.
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6. Day to day survival. Business firms invest in information
system and technology because they are necessities of doing
business. This necessities are driven by industry level changes.
Example: Citibank introduced the first automatic teller machine to
attract customers through higher service levels, and its
competitors rushed to provide ATM's to their customers to keep up
with Citibank. providing ATMs services to retail banking customers
is simply a requirement of being in and surviving in the retail
banking business. Firm turn to information system and technology to
provide the capability to respond to these.
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Q3. What are the 4 levels of application of Information Systems
in a firm? Ans.
` ` ` ` `
Five year sales forecast Five year operation planning Five year
budget forecast Profitability forecast Human resources planning
IS for Sales and Marketing
IS for Manufacturing
IS for Accounting and Finances
Main functions of the system
Sales-Management Market Analysis Promotion Price setting New
Products
Planning Purchasing Shipping & Handling Engineering
Manufacturing
Budgeting Big Ledger Invoicing Computation of COGS
Main applications
Order Monitoring Market Studies Price Lists
Stock & Purchases control Machines operation and control
Quality control
Big ledger Debtors Creditors Budgeting Cash
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` Systems for basic office work: Word processing Document and
image creation Electronic calendar (Outlook) ` Systems for
intellectual work: Engineering work stations and softwares
Management work stations and softwares
` Management information systems: Sales management Stock control
Yearly budgeting Capital investment control Careers evolution
management ` Systems to assist middle mgt decision process: Sales
analysis by region Production planning Costs analysis and costs
control Price analysis and profitability analysis
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Q4. How does Management Information system add value to a firm?
Ans. In today's competitive business environment every activity
carried out in anorganization comes under scrutiny to make sure it
pays its way for the business. This is particularly true for
non-core activities, such as the provision of information and
library services in many organizations. Describes ways to add value
for a successful firm. .The Guidelines There are ten guidelines
with a broad coverage, ranging from developing a strategic role for
information to the development of capabilities and the marketing of
the information unit. There is a considerable degree of overlap
between these guidelines, since many of them support and depend on
each other. 1. Establishing the Strategic Role of Information This
is a two stage process: (1) a research and investigation phase that
gives you the information you need for (2) articulating your
mission and strategy. Some of the strategic decisions whose
successful outcomes depend on the availability of good information
include:y y y y
Market selection and targeting New investments Location of
factories and offices o Pricing and Promotion New product
development and launch
2. Identify Users Real Needs This is the first of the marketing
guidelines. It is essentially about market research. Therefore use
the methods used by researchers - surveys, interviews, usage
analysis. You already have users. Find out how they use your output
and again what results and benefits they achieve. 3. Segment Your
Market This is the keystone of every marketing strategy - grouping
customers into segments with common sets of needs. Too often,
information unit providers offer a homogenous service to all. This
tends to create averaging, of a mediocre service to everybody,
rather than an excellent service to some. Typically segments may be
based on departments, product lines, or industries served. However,
one attractive method of segmentation relies on the distinctively
different needs of senior managers involved with strategic
decisions, field sales people, and
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people in headquarters functions, such as product development
and marketing. By defining a few distinct segments you can develop
different service approaches and perhaps different resourcing and
pricing. This will overcome the common pitfalls of a common
approach that leads to conflicts between the 'urgent' and
important'. 4. Create a Unique Product Although you are offering a
service, it has many features of a product - a look and feel, a
function, and often a tangible manifestation (printed or electronic
output). Therefore you need to think in ways of how to make this
output more attractive. Your users can buy information elsewhere
(and probably do). Your challenge is to customise and add value.
Ways of adding value to generic information are shown in Table
1.
One caveat, though, is not to undertake activities that can be
done as effectively by others or by the users themselves (such as
ordering specialist books and journals). You need to package your
activities as a set of products that are unique and distinctive.
Articulate what this uniqueness is. An example might be your
knowledge and access to sources, that lets you offer 'one-stop
shopping'. 5. Sales and Marketing There is no getting away from it.
A successful information unit will sell and market its services. It
will have promotional fliers that also serve to inform and educate
users. It may well have its own identity and logo. It should also
get out and meet customers at their events, such as a sales meeting
or the in-house annual research conference. As
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well as helping the 'selling' it also gains valuable input that
helps you develop and improve your services. Pricing is another
aspect of marketing that needs careful attention. Gone are the days
when you can continually offer your services for free. Information
is valuable - let your clients appreciate that! One approach that
can be very effective in a sizeable unit, is to allocate different
professionals as 'account managers' for different client groups.
This helps their own personal development as they will learn to
represent the whole of the information unit and not just their own
specialist activity. 6. Evaluation and Feedback Evaluation and
feedback will help you fine tune your product offering, and your
marketing strategy. It also links back to the first marketing
phase, that of research, thus completing the management loop. Three
simple but effective ways of gaining feedback are: - include a
feedback sheet with every item you send out; keep it short e.g. 2-3
questions, such as asking how they used the information provided,
and how much time and money it saved - maintain a call log (even
easier with a computerised client data-base); use it to analyse the
pattern of demand and identify any patterns over time
- publish the results; it generates even more feedback, and also
maintains visibility. 6. Building Partnerships Building effective
partnerships with clients and suppliers is paramount. There are
several means by which partnerships with the business can be
strengthened. They operate at three levels: Organisation level -
the reporting structure can have a positive influence. An
information unit that is a corporate function, rather than embedded
within one department is generally better positioned. Also treating
it as a separate profit centre. The strategic influence is
increased when the head of the information unit report to a member
of the board - in my case it was the director of marketing and
strategy. Teams - there should be teams and task forces that bring
information professionals together with business managers. If the
account manager approach is adopted, ensure that the information
professional becomes an integral part of one of the clients
management teams. Also why not have user representatives on your
own management team.
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Individual - opportunities to improve partnership occur when
individuals develop good working relationships with each other. One
way of achieving this is through co-location e.g. of an information
professional into a user department, or of secondments, say for six
months, between a business unit and the information unit.
7. Develop Hybrid Skills Although you may have trained as an
information professional, to bring improved benefits to the
business you will need to broaden your skills i.e. become something
of a 'hybrid'. A hybrid manager has a mixture of business knowledge
and general management skills as well as that of their speciality.
Some of the key skills they possess are:y y y y y
knowledge of the industry in which the organisation operates
awareness of business issues and pressures organisation 'know-how'
and 'know-who' communication skills inter-personal skills
Therefore, unless you want to remain a specialist, you should
take time out to develop some, if not all, of these skills. This
can be achieved by management training, going to industry events
and courses, and being assigned on secondment to a business
units.
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Q5. What does the term 'competitive advantage' mean? Ans.
Competitive advantage: is defined as the strategic advantage one
businessentity has over its rival entities within its competitive
industry. Achieving competitive advantage strengthens and positions
a business better within the business environment. Competitive
advantage occurs when an organization acquires or develops an
attribute or combination of attributes that allows it to outperform
its competitors. These attributes can include access to natural
resources, such as high grade ores or inexpensive power, or access
to highly trained and skilled personnel human resources. New
technologies such as robotics and information technology either to
be included as a part of the product, or to assist making it. The
term competitive advantage is the ability gained through attributes
and resources to perform at a higher level than others in the same
industry or market. The study of such advantage has attracted
profound research interest due to contemporary issues regarding
superior performance levels of firms in the present competitive
market conditions. A firm is said to have a competitive advantage
when it is implementing a value creating strategy not
simultaneously being implemented by any current or potential
player. Successfully implemented strategies will lift a firm to
superior performance by facilitating the firm with competitive
advantage to outperform current or potential players . To gain
competitive advantage a business strategy of a firm manipulates the
various resources over which it has direct control and these
resources have the ability to generate competitive advantage .
Superior performance outcomes and superiority in production
resources reflects competitive advantage .
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Q.6 Describe Porters 5 forces model. Ans. The model recognizes 5
major forces that could endanger a companys positionin a given
industry. 1) 2) 3) 4) 5) The threat of entry of new competitors The
bargaining power of suppliers The bargaining power of customers The
threat of substitute product or services. The rivalry among
existing firms in the industry.
1). The threat of the entry of new competitors:y y y y y y The
existence of barriers to entry (patents, rights, etc.) Capital
requirements. Access to distribution. Brand equity example Sony.
Customer loyalty to established brand. Industry profitability; the
more profitable the industry the more attractive it will be to new
competitors.
2). The bargaining power of suppliers:Bargain Power of Suppliers
is High/Strong if: y y y y y y y y y Suppliers are more
concentrated than buyers . Buyer switching costs are high. Threat
of forward integration is high. Buyer is not price sensitive. Buyer
is uneducated regarding the product. Buyer purchases product in low
volume. Buyer purchases comprise small portion of supplier sales.
Product is highly differentiated. Substitutes are unavailable.
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Supplier Bargain Power is Low/Weak if: y y y y y y y y y Buyers
are more concentrated than suppliers. Buyer switching costs are
low. Threat of forward integration is low. Buyer is price
sensitive. Buyer is well-educated regarding the product. Buyer
purchases product in high volume. Buyer purchases comprise large
portion of supplier sales. Product is undifferentiated. Substitutes
are available.
3). The bargaining power of customers:Buyer Power is High/Strong
if: y y y y y y y y y Buyers are more concentrated than sellers
Buyer switching costs are low Threat of backward integration is
high Buyer is price sensitive Buyer is well-educated regarding the
product Buyer purchases product in high volume Buyer purchases
comprise large portion of seller sales Product is undifferentiated
Substitutes are available
Buyer Power is Low/Weak if: y y y y y y y y y Buyers are less
concentrated than sellers Buyer switching costs are high Threat of
backward integration is low Buyer is not price sensitive Buyer is
uneducated regarding the product Buyer purchases product in low
volume Buyer purchases comprise small portion of seller sales
Product is highly differentiated Substitutes are unavailable
4). The threat of substitute product or services:y y Buyer
propensity to substitute Relative price performance of
substitute
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y y y y
Buyer switching costs Perceived level of product differentiation
Number of substitute products available in the market Ease of
substitution. Information-based products are more prone to
substitution, as online product can easily replace material
product.
5). The rivalry among existing firms in the industry:y y y y
Competition between online and offline companies; click-and-mortar
Level of advertising expense Powerful competitive strategy The
visibility of proprietary items on the Web used by a company which
can intensify competitive pressures on their rivals.
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Q7. List the strategies that a firm can adopt to overcome
competition?
Ans. Response strategies -Developing a Sustained Competitive
Advantage:-
Cost Leadership Strategy: Produce products and/or services at
the lowest cost in the industry. Companies that choose this
strategy offer relatively standardized products with a minimum
level of differentiation. Constant efforts at lowering their costs.
Cost Reduction strategieso Building efficient scale facilities o
Establishing tight control of production and overhead costs. o
Minimizing costs of sales, product research and development and
service o Investing in state-of-the-art manufacturing
technologies.
y y y y
The companys focus throughout each of its primary and secondary
value creating activities is ono Simplifications of processes and
procedures o Achieving efficiency and effectiveness o Reducing
costs
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o Monitoring the costs of activities provided by others that
interface with the company o Example located in close proximity of
suppliers, timing of asset purchases, delivery schedule that
reduces costs, small and highly trained sale force, selection of
low cost transport carriers, efficient order sizes. Differentiation
strategy:Offer different products, services, or product features.
Differentiate the products in some way in order to compete
successfully. Focus on product innovations or product features that
a customer values. y
A differentiation strategy is appropriate where: o o o o The
target customer segment is not price-sensitive, The market is
competitive or saturated, Customers have very specific needs which
are possibly under-served, The firm has unique resources and
capabilities which enable it to satisfy these needs in ways that
are difficult to copy. These could include patents or other
Intellectual Property (IP), unique technical expertise (e.g.
Apple's design skills or Pixar's animation prowess), talented
personnel (e.g. a sports team's star players or a brokerage firm's
star traders), or innovative processes. o Successful brand
management also results in perceived uniqueness even when the
physical product is the same as competitors. This way, Chiquita was
able to brand bananas, Starbucks could brand coffee, and Nike could
brand sneakers. Fashion brands rely heavily on this form of image
differentiation.
Products can be differentiated in a number of ways: o Superior
quality o Unique features o More responsive customer service o
Rapid product innovation o Advanced technological features o
Engineering design o An image of prestige or status
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Q8. Explain briefly the value chain model. Ans. Activities
conducted in any organization can be divided into two parts:
primaryactivities and support activities. Primary activities are
those activities in which materials are purchased, processed into
products, and delivered to customers. Each adds value to the
product or service hence the value chain. y y y y y Inbound
logistics (inputs, raw materials handling and warehousing)
Operations (manufacturing and testing) Outbound logistics (storage
and distribution) Marketing and sales (advertising, pricing,
promotion) Service (installation, repair, parts)
Unlike the primary activities, which directly add value to the
product or service, the support activities are operations that
support the creation of value (primary activities) y y y y The
firms infrastructure (accounting, finance, management) Human
resources management Technology development (R&D) Procurement
(purchasing of raw material, machines, supplies)
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Q9. Does IT help sustain competitive advantage? Ans. IT help
sustain competitive advantage are:y y Create inward systems which
are not visible to competitors. Provide a comprehensive, innovative
& expensive system that is difficult to duplicate. Combine SIS
with structural changes. This would include business processes,
reengineering & organizational transformation.
y
In planning IT it is necessary to examine three basic
strategies: (1) Be a leader in technology. The advantages of being
a leader are the ability to attract customers, to provide unique
services and products. However, there is a high development cost of
new technologies and high probability of failures. (2) Be a
follower. This is a risky strategy because you may be left behind.
However, you do not risk failures, and so you usually are able to
implement new technologies at a fraction of the cost.
(3) Be an experimenter, on a small scale. This way you minimize
your research and development investment and the cost of failure.
When new technologies prove to be successful you can move fairly
quickly for full implementation.
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Q10. What is the definition of a 'digital firm'?
Ans. A digital firm is one in which nearly all of the
organization's significant businessrelationships with customers,
suppliers, and employees are digitally enabled and mediate. Core
buiness processes are accomplished through digital networks
spanning the entire organization or linking multiple organizations.
Business processes refer to the set of logically related tasks and
behaviors that organizations develop over time to produce specific
business results and the unique manner in which these activities
are organized and coordinated. Digital firms involve both time
shifting and space shifting. Time shifting refers to business being
conducted continuously, 24x7, rather than in narrow "work day" time
bands of 9 a.m. To 5 p.m. Space shifting means that work takes
place in a global workshop, as well as within national
boundaries.
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Q11. What are the different components of an MIS? Ans. Following
are the different components of MIS are :HardWARE Input and output
devices constitute the hardware components of MIS Software The
programs and applications that convert data into machine-readable
language are known as software Procedures Procedures are sets of
rules or guidelines, which an organization establishes for the use
of a computer-based information system Personnel The computer
experts, managers, users, analysts, programmers, database managers,
and many other computer professionals who utilize the
computer-based information systems are the personnel in a
management information system.
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Q12 .Describe Decision Support Systems (DSSs). What are their
major components? Ans. A decision support system (DSS) is a
computer-based information system that supports business or
organizational decision-making activities. DSSs serve the
management, operations, and planning levels of an organization and
help to make decisions, which may be rapidly changing and not
easily specified in advance.Major component of Decision support
system: 1. The database (or knowledge base),: the database
management system or DBMS controls the information gathered from
both the internal and external sources of the company.. 2. The
model (i.e., the decision context and user criteria),: The model
based management system components, on the other hand, is concerned
with in-depth analysis of sophisticated data and their proper
interpretation. It provides various models for the purpose of
assessing and interpreting that will help in forming decisions. 3.
The user interface.: the User Interface components of Decision
Support Systems present the user with tools to manage the various
data and their models, thus presenting a coherent system and also
providing immediate feedback.
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Q13. Distinguish between MIS and DSS? Ans. Following are the
difference between MIS & DSS :-
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Q14. Why should users be involved in the software development
process? Ans. GUIDELINES FOR END-USERS.The higher the level of the
manager, the less he or she is likely to care about computer
technology.
The goals and priorities of management may be in conflict with
those of the supervisory and operational users. Management may not
provide resources, funding or time that the users feel is necessary
to build an effective system. The end users involved indirectly in
the development process are auditors, standard bearers, and quality
assurance group. The objective of this group is to ensure that the
system is developed in accordance with various standard set: -
standards by other departments. - standards by government
regulatory agencies. - accounting standards. - they do not get
involved until the end of project. they provide the necessary
notation and format of documentation.
Development Team It is responsible in building the software that
will support a domain specific system.
System Analyst Responsibility is understanding the system.
Within this system, he identifies customer wants, and documents and
prioritizes requirements.
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System Designer Responsibility is to transform a technology free
architectural design that will provide the framework within which
the programmers can work.
Programmers Responsibility of the programmers is to write the
codes of the software using a particular programming language based
on system design.
Testers Work product should be reviewed for faults and errors.
It ensures thatwork products meet requirements and standards
defined.
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Q15. Outline the various phases of SDLC. Briefly explain each.
List deliverables, if any, in each phase. Ans. The waterfall model
of development is an example of a Software DevelopmentLife Cycle
(SDLC) model. It is called waterfall because of the way it falls
down. This visual aspect is what affects peoples perceptions of
what it does and hence how it is implemented. The earliest paper
which describes the waterfall is Managing the Development of Large
Software Systems by Dr. Winston W. Royce published in 1970. However
he did not call it the waterfall model and he had several
criticisms in using it if it was naively implemented. Instead he
was championing the concepts of a sequence of development stages
and crucially iterating back to previous stages as more evidence
emerged during development. The image below is the classic
Waterfall model methodology, which is the first SDLC method and it
describes the various phases involved in development.
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Briefly on different Phases: Feasibility The feasibility study
is used to determine if the project should get the go-ahead. If the
project is to proceed, the feasibility study will produce a project
plan and budget estimates for the future stages of development.
Requirement Analysis and Design Analysis gathers the requirements
for the system. This stage includes a detailed study of the
business needs of the organization. Options for changing the
business process may be considered. Design focuses on high level
design like, what programs are needed and how are they going to
interact, low-level design (how the individual programs are going
to work), interface design (what are the interfaces going to look
like) and data design (what data will be required). During these
phases, the software's overall structure is defined. Analysis and
Design are very crucial in the whole development cycle.
Implementation In this phase the designs are translated into code.
Computer programs are written using a conventional programming
language or an application generator. Programming tools like
Compilers, Interpreters, Debuggers are used to generate the code.
Different high level programming languages like C, C++, Pascal,
Java are used for coding. With respect to the type of application,
the right programming language is chosen. Testing In this phase the
system is tested. Normally programs are written as a series of
individual modules, these subject to separate and detailed test.
The system is then tested as a whole. The separate modules are
brought together and tested as a complete system. The system is
tested to ensure that interfaces between modules work (integration
testing), the system works on the intended platform and with the
expected volume of data (volume testing) and that the system does
what the user requires (acceptance/beta testing). Maintenance
Inevitably the system will need maintenance. Software will
definitely undergo change once it is delivered to the customer.
There are many reasons for the change. Change could happen because
of some unexpected input values into the system. In addition, the
changes in the system could directly affect the software
operations. The software should be developed to accommodate changes
that could happen during the post implementation period.
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Q16. List the different System building approaches (also called
Alternative Development Frameworks). Explain each briefly,
highlighting the key points. Ans.
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Q17. What is Self-sourcing or End-user computing? Ans.
Selfsourcing or End user computing is the internal development and
supportof IT systems by knowledge workers with minimal contribution
from IT specialists. Knowledge workers develop and utilize their
own IT systems, as opposed to contracting out the work in a process
known as outsourcing. Knowledge workers are workers who are
dependent upon information or who develop and utilize knowledge in
the workplace.
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Q18. Explain BPR. Ans. Business process reengineering is the
analysis and design of workflows andprocesses within an
organization. According to Daven ports(1990) business process is a
set of logically related tasks performed to achieve a defined
business outcome. Re-engineering is the basis for many recent
developments in management. The cross-functional team, for example,
has become popular because of the desire to re-engineer separate
functional tasks into complete cross-functional processes. Also,
many recent management information systems developments aim to
integrate a wide number of business functions. Enterprise resource
planning, supply chain management, knowledge management systems,
groupware and collaborative systems, Human Resource Management
Systems and customer relationship management.s
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Q19. What is the Role of IT in BPR? Ans. BPR was introduced in
manufacturing/service industries with the objective ofchanging the
management of the supply chain. In manufacturing, the nature of
material flow determines the type of information and decision
support systems required to achieve system integration and hence
the overall effectiveness of the system. A conceptual model has
been developed in this paper to illustrate the role of information
systems in BPR and the type of information systems required to
integrate functional areas in manufacturing. Hammer's (1990)
message Reengineering work: don't automate, obliterate stresses a
radical process simplification as the way to reduce time and cost,
and to eliminate or at least simplify processes, not just speed
them up. There has been tremendous interest on how to simplify the
process and hence the information system required for effective
management of material flow in manufacturing. The implementation of
BPR using innovative application of information technology (IT)
aims at flexible, team-oriented, and cross-functionally
co-ordinated management. A framework has been presented in the
paper to design a more effective BPR system with the help of
advanced IT.
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Q20. What are the risks of BPR? Ans. Business Planning &
Strategy - helping you to find where you need to go,helping you to
get there at the right time, and in the best way which will
consistently add value to your firm. This may include thought
leadership (more imaginatively than SWOT/ PESTLE), positioning,
market research, pricing & value analysis, etc Business Process
Re-engineering & Change Management - helping you review/
re-think how you currently operate your business, helping
capitalise on alternative approaches, new channels and
technologies, prioritising the changes needed to release value, and
managing the delivery of those changes for maximum value - to
transform your business. Risk Management & Compliance - it has
often been said that if 'risk' is a fourletter word, then
compliance is an expletive. We can help make it spell opportunity,
not doom; since there is rarely reward without risk. Business is
now embedding the risk discipline into all activities. However,
recognising and monitoring the financial impact of risks held using
financial (riskadjusted) measures is only a start, not a goal.
BPR-RISK can help you to identify, prioritise and manage your
business risk, to achieve compliance, maximise riskreward and
value, and protect your reputation. Risk Financing solutions -
helps look at a range of ways of stabilising risk shocks, and
ensuring sufficient capital adequacy utilising a range of
traditional and alternative financing products and techniques
including securitisation. In the same way that traditional 'reflex'
purchase of insurance was re-considered in light of offshore
self-insurance 'captive' alternative, current 'best practice'
should be continuously re-assessed. BPR-RISK can also help you to
comparatively benchmark your performance and that of your
suppliers, service providers and counterparties.
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MIS ASSIGNMENT
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