Professional Documents
Culture Documents
Assignment
Assignment
Assignment
Sol:
The success of every business depends on certain factors. Some of which are
accurate analysis, choosing the right technology and the future vision. Research
from the last two decade has proved that those organisations that do invest in
technology and choose the path of innovation increase their market share,
financial figures and overall competitiveness. Information technology is the
only technology which provides you the opportunity to analyse specific data
and plan your business journey accordingly. It also provides you many tools
which can solve complex problems and plan the scalability (future growth) of
your business. In the modern age, it is proved that digital marketing is a great
tool which let you promote your products or services to the global market while
sitting in the comfort of your remote office or home. And thanks to the cloud
computing and modern communication which enable you to form a global
organisation, manage and monitor its virtual offices all over the world.
Decision Making
Speed and accuracy are at the heart of making right decision for your business.
Every successful organisation has to go through a comprehensive market
research process which enables management to make the right decision. Market
research can be done in many ways through online surveys, forums, blogs,
group discussions using World Wide Web and of course through in-person
interviews as well. Currently Big data, Google Analytics and Microsoft CRM
Dynamics are also great tools to extract useful information which can impact on
decision making. These online tools not only provide real time responses from
the potential audience but also ensure the accuracy of data by minimising the
risk of human errors.
The heart of the business success lies in its marketing which enables the
management to identify its target audience first and then observe their trends
and needs. The overall marketing covers public relation, advertising, promotion
and sales which subsequently impact on business growth. Many types of
marketing can help you reach your potential customers. But I will briefly
explain digital marketing here which was the dream in the past without Internet
technology. Digital Marketing is a modern phenomenon which let you promote
your products or services all over the world. It is a broad term which includes
many concepts like search engine optimisation (SEO), pay per click (PPC),
blogging, discussion forum, email shot, SMS, MMS, social media marketing
and Smartphone app advertisement etc. Currently web market is booming at a
very fast pace because most of the entrepreneurs have understood that the long
term success in business is not possible without digital presence on the internet.
Millions of new websites are being added on the internet every year.
Sol:
Q1.Discuss the important changes in the fields of health care, agriculture, and
industry.
Agriculture:
Cooling facilities: These are used buy farmers to deliver tomatoes and other
perishable crops to keep them fresh as they transport them to the market.
These cooling facilities are installed in food transportation trucks, so crops
like tomatoes will stay fresh upon delivery. This is a win-win situation for
both the consumers of these agricultural products and the farmers. How? the
consumers gets these products while still fresh and the farmer will sell all
their products because the demand will be high.
Genetically produced plants like potatoes, can resist diseases and pests,
which rewards the farmer with good yields and saves them time. These
crops grow very fast they produce healthy yields. Since they are resistant to
most diseases and pests, the farmer will spend less money on pesticides,
which in return increases on their (RIO) return on investment.
Development of animal feeds. This has solved the problem of hunting for
grass to feed animals, now these feeds can be manufactured and consumed
by animals. The price of these feed is fair so that a low income farmer can
afford them. Most of these manufactured animal feeds have extra nutrition
which improve on the animals health and the out put of these animals will
also increase. In agriculture , the health of an animal will determine its
output. Poorly feed animals are always unhealthy and they produce very
little results in form of milk, meet
Q2.How can computers help us in home money and business management?
Elaborate.
Computers allow the application of different types of software that can help businesses keep track of their
files, documents, schedules and deadlines. Computers also allow businesses to organize all of their
information in a very accessible manner. The ability to store large amounts of data on a computer is
convenient and inexpensive, and saves space. A computer's ability to allow a company to organize its files
efficiently leads to better time management and productivity.
Computers have made staff and companies more self-sufficient by allowing them to do tasks that
previously had to be outsourced. For example, a company can now use office software to create their own
training material. Desktop publishing software can be used to create marketing materials. Online tax and
accounting programs allow companies to prepare their own taxes. This allows the dominant operations of a
company to remain in-house and empowers the company to become more independent and less susceptible
to errors committed by outside parties.
Emerging technology makes new tools and services more affordable and allows companies to save on their
staff payroll and office equipment. Because computers allow work to be done faster and more efficiently, it
is possible for a company to hire fewer staff. In addition, with networked and relatively inexpensive
computers, companies can store data more easily, saving on the cost of outside file storage, and can avoid
having to purchase as many copiers, fax machines, typewriters, and other such items that were used before
computers became popular.
Correspondingly, potentially profitable businesses can be started with a smaller overhead cost. Email
capabilities decrease postage costs; software applications reduce the need for large accounting
departments, while videoconferencing reduces the need for travel. All resources saved will trickle down to
the consumers, who are then provided with much more affordable products and service.
Do It Better, Do It Faster
Computers help speed up other business operations. The collecting of consumer feedback, ordering of raw
materials, and inspection of products is made quicker through the use of computers, allowing companies to
operate much faster and to produce better quality results.
R&D, or research and development, costs will also decrease with the help of computers. Scientific research
can now be done using the Internet and computer software applications designed to develop and produce
new products and services. For example, instead of a company having to do in-person focus groups on a
potential new product or to determine their target market, the company can conduct a widespread online
survey for a far lower cost.
In addition, new models of a product can be created online using virtual pictures and drawings instead of
having to be hand-drawn. These interactive models created using software programs can help bring the
product and its features to life for a far lower cost than creating an actual physical model of the given
product.
Computers can help generate higher sales and profits for businesses via a company website. Many
businesses now operate online and around the clock to allow customers from around the world to shop for
their products and services.