unit 9.4 not on paper 3

Question 1

enterprise resource planning (ERP)

Answer 1

business management software allows a business to monitor activities in every department through the collection + interpretation of data

Question 2

how does ERP help the different functions?

Answer 2

HR: track work rates of staff, extra training pr productivity dropping

finance: budgeting
marketing: compare sales after promotion
operations: track stock levels, distribution networks

Question 3

big data

Answer 3

collected from social media, loyalty cards

Question 4

data mining

Answer 4

data that’s analysed to spot correlations + trends

-> can supply useful info on consumers + competitors

Question 5

e-commerce

Answer 5

+ don’t need to invest that much in stores
+ can reach much bigger customer base
+ greater access to international markets
+ online order history eg amazon can make personal recommendations
+ can interact more directly + easily -> improves customer service

Question 6

digital technology

Answer 6

+ global scale, can result in better quality products increasing capacity + efficiency, more profitable in LT
- expensive, staff need specialised skills, if introduces too much -> staff may be overwhelmed + resistant to changes