U1 & CHAPTER 3 : Strategic Initiatives for Implementing Competitive Advantages WEEK 4 (27th December 2016 5.41p.m.)

Assalamualaikum & Goodeveing,
You would be surprise that my lecturer would actually complete the WHOLE of chapter 3 in just 1 1/2 hours. This means, BLOG UPDATE As Soon As Possible. Right now, my class just ended at 3.10p.m. which is Operations Management, so I went to Library to start editing my last to drafted post upon chapter one and two and If you guys noticed that both post before this post were to be mentioned on what time and date I'd actually type the draft
   
      In simple manner, I din't actually did everything in one day, but I did it alternately in a form of drafts before I actually post them.

WELCOME to chapter 3 of the entire MGT300 subject Iam learning right now, but practically completed it already.

    There are four strategics that could be initiate by a business organization before htey could implement the competitive advantage. Lets look shall we...

1.)  THE business process re-engineering (BPR)

• Business Process - a standardized set of activities that accomplish a specific test, such as processing customer orders

• Business Process Re-engineering - The analysis and redesign of workflow within and between enterprises which in purpose to posses a best-in-class business

• Re-engineering the Cooperation - book that was written by Micheal Hammer and James Champy that recommends seven principles of BPR

How to find an opportunity using the BPR?

Changing the path from the way it was like those days, we walk or use a horse to travel, and then shifted to drive a car or lorry...But now..we all can fly using an airplane

We could also improve our service like..

2.) THE Supply Chain Management (SCM)

What is supply chain?

It involves the management of information flows between and among stages in a supply chain to maximize total supply chain effectiveness and profitability

Below are the basic components of the supply chain

A view upon how SCM works

An effective and efficient SCM systems can enable an organization to  :

• Decrease the power of its buyers
• Increase its own supplier power
• Increase the switching cost to reduce the threat of substitute products or services.
• Create entity barriers thereby reducing the threat of new entrants.

3.) THE Customer Relationship Management (CRM)

Basically, CRM Involves managing all aspects of a customer's relationship with organization to increase customer loyalty and retention and an organization's profitability

      CRM is just not any technology, but a strategy process and business goal that an organization must embrace on an enterprise wide level. CRM can enable the organization to identify the types of customers. treat each customer as an individual or even understanding customer buying behaviors

4.) THE Enterprise Resource Planning (ERP) 

ERP acts as to integrate all departments and functions throughout an organization into a single IT system so that employees can make decisions by viewing ENTERPRISE WIDE information o all business operations.

        ERP systems collect all data from across an organization and correlates the data generating the enterprise wide view.

Well, I guess that is all for Chapter 3, thank you for reading and assalamualaikum..

U1 & CHAPTER 2 : Identifying Competitive Advantage WEEK 4 (26th December 2016 11:50p.m.)

Assalamualaikum & Goodnight for Malaysians and Good day for the world,

Hey bloggers, It is kind of late for me to update upon Chapter 2 because its already week 4 since my madame assigned this assignment since week 1 but yeah, its my human negative character traits. Ain’t a good example yes. Tomorrow on 27th December 2016 would be my next step in Chapter 3 for Week 4 in my class.

      So here we are Chapter 2, as far as Iam concerned from my learning outcomes, a company must identify their competitive advantages strive for better sales and profit.

Why do we need to identify our competitive advantages?

To survive and thrive an organization

What is a competitive advantage?

A product or service that an organization’s customers place a greater value on than similar offerings from a competitor.Before competitive advantage occurs, such First-mover advantage was made which is…

An organization can significantly impacts its market share by being the first to market with a competitive. For example : A&W Malaysia Berhad

Malaysia's first fast food restaurant at Kelana Jaya

      Most organizations watch their competition through environmental scanning which Is the acquisition and analysis of events and trends in the environment external to an organization.

The common tools used in industry to analyze and develop competitive advantages include :

A.) Porter’s Five Forces Model

1. Buyer Power

Its high in its power when buyers have many choices of whom to buy from and low upon vice versa.

       There two ways  to reduce buyer powers which are :

Loyalty Program

This is where company rewards customers based on the amount of business they did with the company. For example AEON

Aeon companies loyalty towards their customers

Aeon companies loyalty towards their customers

Switching Cost

This is when costs that can make customers reluctant to switch to another product or service. For example APPLE

2. Supplier power

Its high in its power when buyers have a few choices to whom to buy from and low upon vice versa.

           This concludes of supply chain which includes all parties involve in the procurement of a product or raw material :

Supplies – Organizations – Customers

Significant example in Malaysia is ASTRO

Most organizations that are buying goods and services through supply chain can create a competitive advantage by locating alternative supply sources through B2B Marketplaces

What is B2B Marketplaces?

An internet-based service that brings together many buyers and sellers. This as well includes the private exchange and reverse auction.

3. Threat to substitute products or services 

Its power is high when there  many alternatives to a product or service and low when there are few alternatives from which to choose through switching cost where customer would reluctant to switch to another product or services due to its cost

 For example : Apple towards Samsung

4. Threat of new Entrants

Its power is high when It is easy for new competitors to enter a market and low when there are significant entry barriers to entering a market.

5. Rivalry among existing competitors

Its high when competition is fierce in a market and vice versa

For example : Dunia Herbs Vs Qu Puteh

B.) The Three Generic Strategies

1. Cost leadership

2. Differentiation

3. Focused Strategy

C.) Value Creation

After choosing one of the strategy, the organization must meets its value creation through:

1. Business Process

2. Value Chain

Thanks for reading….

U1 & CHAPTER 1 : Business Driven Technology WEEK 3 (25th December 2016 8:04p.m.)

Assalamualaikum & Gooday,

Hey blog readers, first and foremost I’d like to give a warm thanks to my lecturer Mrs. Azzura for handing out this assignment whereby I have to compile and summarize upon what I’ve learn in my syllabus which is Business Technology – MGT300 at my campus, MARA University of Technology at Melacca, Malaysia.

    Let’s talk about the name of the Blog, surely you would wonder why is it named The Blog Of Bore when mostly everything in it is about Business Technology. So here it is, I know it myself that it is going to be quite boring upon reading this BUT let us just the positive vibe. We or You read this blog for our basic knowledge of what is Business Technology and what is that technology have to do with Business? How that it changes our life? And foremost, It improves and makes the world a better place to live.

DENOTE,

Date and time stated is actual time wrote than the time displayed on blog after post.



UNIT ONE : Business Driven Technology WEEK 3  (25th December 2016 8:04p.m.)

WEEK 3 of my fourth semester, It’s a bit kind of late to summarize upon what is in unit One because I’ve already learn that since week one, but it is my fault to procrastinate my assignment so yeah, Here it is…

Unit One,

The business is being driven by technology from time to time, which it gives an impact to MOST of the business operations and the structure of the firms.

Benefits to be said are applied at :

CUSTOMER SERVICE,

One of the most significant example is customer service self-operator in hotlines when you called them.

SALES and MARKETING,

We use Instagram, Snapchat, Facebook, Wechat Moments and not for least Blogs to promote our product upon different strategies used.

HUMAN RESOURCES,

This is where employee’s data are kept in a system operated where there are no more files and large stacks of folders need no to keep.

Goals and projection :

REDUCE COSTS & IMPROVE PRODUCTION

This is very contrast in every firm whereby to reduce cost. For example, Ikea figure out the LAMPAN lamp which it is cost reducing in its simplest package but convenient usage.



CREATE COMPETITIVE ADVANTAGE

This is where from each company compete among themselves to increase sales with the use of Technology in their marketing strategy

IMPROVING CUSTOMER SATISFACTORY

With the aid of technology used, insyallah most customer would feel satisfied which an example can be credited to most fast food restaurants whom provide online order service where customers can request in how they want it without any problems experienced.

The Basics

Ever wonder what is IT? Which mostly mentioned as Business IT, The IT department etc.

IT is an abbreviation for Information Technology which it is a field where there is a concerned with the usage of technology in management and processing information.

Since you already knew what is IT, let us move on to MIS

MIS stands for Management Information Systems which it is a general name for the business function and academic discipline covering the application of people, technologies, and procedures to solve business problems. MIS business function is also similar to Accounting, Finance, Operations, and Human Resources.

Well, I don’t want to make it to complex, but the fact is, we have to understand what is :

A.) Data, Information and Business Intelligence,

1. Data

The raw facts that describe the characteristics of an event

2. Information

Data converted into a meaningful and useful context

3. Business Intelligence

Applications and technologies that are used to support decision-making efforts

B.) IT Resources

In simple words, IT resources here refers people use the information technology to work with the gain as much as information they.

CSI is an example where the TV Show portrayed how and a detective gain information of a murderer with the use of technology.

C.) IT Cultures

Alhamdullilah,

That is it for the summarize of Unit One, Its nothing much but a bit of information might be usefull