Information technology is vital for a company that seeks to grow its revenues in the industry it operates. If a firm allows its employees to learn information technologies that are relevant to their skills and duties, they can achieve positive outcomes at work.
This will makes a firm to have a stronger competitive edge in the market. Business leaders need to incorporate information technology management into the core business strategies of their firms to enable them achieve their long term objectives.
This approach has been used by my firm’s management. My firm uses different forms of technological solutions to improve the performance of all employees which has made its operations more efficient. My firm has introduced efficient IT systems which have increased the amount of revenues earned substantially (Brown & Sikes 2011, p. 2).
Technology helps a business to organise different workplace functions to help it improve its long term financial performance. My firm has used technology to improve all financial processes it is involved in. Accounting, sales and marketing operations in the firm are automated, which makes it easy for managers to monitor the firm’s performance in the market.
Managers are able to monitor revenues which are earned and expenses incurred by the firm in a specific period. Since the implementation of a comprehensive IT policy ten years ago, my firm has managed to increase its daily output and this has impacted positively on its market position. At the moment, several employees in my firm have IT skills which enable them perform their responsibilities easily.
This has encouraged workers and managers to work closely to improve results attained by the firm in its operations (Khosrowpour 2006, p. 67). Employees use internal communication channels to communicate with their managers and fellow workers. This has improved coordination of different processes in the firm.
IT has helped my firm improve different internal and external processes. It has made it possible for my firm to improve the way it communicates with all clients. Some employees in the firm have been trained on how to handle customers’ feedback and complaints through its website.The firm’s customers are able to share their experiences with our staff regarding the quality of products sold to them by the firm.
This has increased the level of interaction between our employees and consumers which has contributed positively to the firm’s reputation in the market. Therefore, the increased attention to our customers has made them more satisfied with our products and this has strengthened their loyalty towards the firm.
The firm conducts market research from time to time to enable it understand the needs of its customers better (Khosrowpour 2006, p. 72). Market research makes it possible for the management to understand which improvements the firm needs to carry out to help it satisfy clients’ needs.
IT solutions have helped my firm to improve different supply chain functions it is engaged in. My firm communicates with other business firms through the internet and this has strengthened the value of its operations. Most raw materials which the company uses to produce its goods are sourced from companies located in Asia and Europe.
The firm uses IT technologies to track its consignments being shipped to the country easily. The firm communicates with its suppliers easily and managers are able to conduct a background check to determine their reliability and integrity. This has made it possible for my firm to make orders for crucial production inputs on time, to ensure internal operations proceed without getting disrupted.
The firm is also able to monitor the quality of goods shipped by suppliers to ensure their standards are high. The firm has relies on online risk consultants to analyse various import processes and this helps it avoid fraudulent transactions (Khosrowpour 2006, p. 89).
My firm has implemented technology solutions to improve the quality of its internal procedures. It has introduced new and efficient production systems which have increased the level of output attained. It has acquired new technology -aided machinery and this has improved the quality of production in the firm. The firm is able to produce more goods in a short span of time which are released into the market quickly.
The use of advanced technological equipment in the firm has helped it save on high production costs, which had a negative impact on profitability in the past.
The firm has managed to cut its energy costs by 30% because the new equipment being used for production is efficient and helps it meet its market objectives. The firm has also saved on labour costs because new technological systems have helped the firm to automate most of its core functions (Koelinger 2008, p.1319).
Technology systems have helped the firm to improve the way it delivers products to the market. The firm has a strong relationship with distributors and other business owners who help it deliver finished products to the market quickly. Distributors can place orders through the firm’s website which enables them get products destined for the market in time.
Therefore, the firm and its distributors are able to deliver goods to consumers very quickly. This approach has helped the firm to increase its internal productivity because goods are released into the market without any delays.
The firm has favorable agreements with its distributors and this has helped it to strengthen its presence in different markets (Koelinger 2008, p.1321). Technology based processes have improved the firm’s supply chain functions to enable it acquire a strong market position.
My firm uses technology to achieve various business strategies. Technology systems have been used to improve relations the firm has with its customers which has contributed positively to growth. The firm has automated many internal processes to make them run efficiently. For instance, some consumers are able to pay for their merchandise using credit cards and online payment systems.
Managers are able to secure the firm’s assets using CCTV cameras which monitor movements within and outside the company’s premises. This has ensured that the company is not susceptible to risks associated with theft and burglary. Information technology solutions have improved the way my firm does its operations which has made it more competitive in the market.
IT systems and solutions have helped my firm to gain a strategic advantage in the market. The firm’s customers are able to pay through credit cards or online payment systems when they purchase goods from its website. This has improved the quality of financial processes in the firm. This has enabled the firm to close lucrative business transactions quickly.
The firm’s reliable IT systems have made organisational functions move swiftly without any disruptions. The automation of payment systems and other financial processes has made the firm to have a competitive approach to the market. Efficient IT systems in my firm have helped it achieve positive growth in revenues in the last decade.
Managers are able to monitor all transactions carried out in the company and this makes auditing of all financial processes easy (Tsai 2003, p. 57). Therefore, the automation of financial functions has made the firm to move away from cumbersome cash payments to technology -aided financial payments and systems.
The firm has improved its relationships with distributors and suppliers. The firm’s supply chain functions have been improved which has made it possible for goods to be delivered to different markets within a short time. My firm has established strong networks with producers of crucial raw materials and this has reduced production costs incurred by the firm.
Therefore, this has given the firm a competitive edge over other firms in the industry. My firm has organized its internal and external processes more effectively which has ensured that its clients access goods on time without any delays.
This is because distributors are able to get their orders without any problems which makes them sell different products to consumers quickly (Tsai 2003, p. 67). They are able to book orders from the firm through the internet which are obtained within a short time.
The firm has been able to introduce innovative practices which have strengthened its position in the market. The firm has been able to institute changes in its production systems and this has improved the quality of its products in the market. My firm has purchased new equipment which have changed the manner in which goods are manufactured.
This equipment has made it possible for the firm to save on energy costs and this has helped it get higher revenues. The firm’s processes are driven by innovation to ensure its products remain competitive in the market. Technology –aided processes help the firm to come up with new concepts and products for the market.
The firm has improved research and development functions which has made its operations to be responsive to existing market conditions. Managers are able to study different trends in the market effectively because of the constant interactions employees have with customers (Tsai 2003, pp. 70-74).
Information gathered by employees whenever they interact with customers has helped the firm gain a crucial insight into the market. The firm is able to understand customers’ needs easily and how it can satisfy them. Customer care and satisfaction is one of the key pillars of the firm’s business strategy. The firm does constant market studies through the internet to evaluate the opinions of customers regarding its products and services.
Information which is obtained through these market studies helps the firm to improve its internal functions and processes. This helps my firm to identify consumer needs in the market that need to be satisfied to help it boost its earnings (D’ Atri 2011, p. 65).
This approach makes it possible for the firm to understand the profiles of different customers to enable it design and produce products which are suited to their lifestyles. This allows the firm to come up with strategies which ensure its workers improve their performance to enable it achieve its goals.
Product development in the firm is guided by market trends and shifting consumer needs. The research and development department analyses feedback from clients who use products manufactured by the firm to understand their experience. Therefore, the R&D team uses technological solutions to identify new products that help satisfy specific consumer needs in the market.
My firm tests the viability of a new product first by giving its loyal consumers free samples to evaluate their reactions to it. This makes it possible for the firm to understand what customers in the market want and how their needs can be satisfied (D’ Atri 2011, p. 69). If customers give negative feedback about the product, then improvements are made to ensure that their interests are catered for.
The R&D team in the firm relies on consumer opinions and feedback to carry out improvements in products manufactured by the firm. This approach has made it easy for the firm to stay competitive in the market.
The firm also uses reliable IT systems to make its daily operations more effective. The firm has installed an internal Local Area Network (LAN) which encourages collaboration between different employees in the firm. Internal communication between employees and their managers has improved which has led to an increase in productivity.
Managers are able to monitor how employees are performing their duties in their respective workstations. The LAN system also makes it possible for employees to consult their managers on different work place responsibilities they need to perform. IT systems have opened up communication in the organization and this has encouraged workers and managers to be more united (D’ Atri 2011, p. 74).
This has made it easy for the organization to achieve its business strategies in the industry. Therefore, the firm’s operations have become more competitive in the market because it has dedicated staff who are committed to its success.
The firm needs to improve institute technology systems to enable it improve other human resource functions. It needs to have systems that detect when workers arrive and when they leave work premises to ensure that the daily attendance is monitored. This will help to reduce cases of absenteeism and lateness at work. All workers need to be given an electronic card so that they swipe in when they enter and swipe out when they leave.
This will make it easy for the firm to supervise all workers to establish their commitment and productivity. The firm needs to have electronic records of all its workers to enable it institute these policies effectively (D’ Atri 2011, p. 79).
The firm needs to improve the security of its electronic data and information by installing foolproof information systems. This will help it deal with any threat of data loss through a cyber attack. There are many cyber criminals who hack vulnerable information systems and steal valuable data and information.
It is important for the firm to install firewall programs which detect any form of unwanted intrusion into the firm’s IT networks. This will ensure that the safety of all financial records and other business records is not jeopardised.
The firm also needs to train its workers on how to use different technological processes (D’ Atri 2011, p. 80). This will improve the quality of output in the firm. All these approaches will enable the firm to improve its performance in the market.
References
Brown, B & Sikes, J 2011, ‘How strategic is our technology agenda?’, McKinsey Quarterly, October, pp. 1-5.
D’ Atri, A 2011, Information technology and innovation trends in organizations, Springer, London.
Khosrowpour, M 2006, Emerging trends and challenges in information technology, IGI Publishers, New York.
Koelinger, P 2008, ‘The relationship between technology, innovation and firm performance: empirical evidence from e-business in Europe’, Research Policy, vol. 37, pp. 1317-1328.
Tsai, HL 2003, Information technology and business process reengineering: new perspectives, Greenwood Publishing, New York.