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HOLMES INSTITUTE FACULTY OF HIGHER EDUCATION Individual Assignment HOLMES INSTITUTE FACULTY OF HIGHER EDUCATION Impact of IT on Business XXXXXXXXXXwords worth 25% HC1041 IT for Business Trimester 1...

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HOLMES INSTITUTE



FACULTY OF HIGHER EDUCATION



Individual Assignment

HOLMES INSTITUTE
FACULTY OF HIGHER EDUCATION
Impact of IT on Business

XXXXXXXXXXwords worth 25%

HC1041 IT for Business
Trimester 1 2018





Date Due: Friday Week 10 by 5:00 PM
Marks: Weighting 25%


Student Name (Block letters) XXXXXXXXXXStudent Number:

___________________________ XXXXXXXXXX_____________


HOLMES INSTITUTE

FACULTY OF
HIGHER EDUCATION
HC1041 IT for Business - Trimester 1 2018

1
Individual Assignment Requirements

Read the case study and answer the following questions:

1) What are the advantages and disadvantages of the new POS system?
2) How will this POS system help the business gain competitive advantages?
3) What are the advantages of having a centralised database?
4) How could this POS system facilitate decision making?
Address the following points:
 Why do point-of-sale systems process business activities more effectively?
 Can the information be tracked manually in an effective manner? Why or why not?
 What types of questions could be answered effectively?
 How could the information be used to better manage the business?
5) Recommend telecommunication options for this POS system
Address the following points:
 Types of networks – LAN, WAN or MAN?
 Types of media? --Wired or wireless technologies? Which types of cables should
e used for wired technologies? Which types of wireless technologies?
6) What type of risks does the POS system
ing and how to protect the business
against the risks?
Address the following points:
 Security
 Privacy
 Confidentiality

Your report will be assessed on the quality of your research and quality of report.
Discussion must be relevant to the case study business. Your report is to be in the style
of a business report.
HC1041 IT for Business - Trimester 1 2018

2
Case study -- Blooming with Technology
The use of information technology is needed by every industry size and type of business.
Small businesses can realize the positive effects through adopting technology. However,
small businesses often do not have the resources and expertise of large corporations to
implement information technology strategies. However, the benefits of technology for
small and medium-sized enterprises (SMEs) are just as crucial to business operations and
strategy.
Consider Four Seasons Greenhouse and Nursery, located in Colorado. This small nursery
was like many other small businesses and garden centers. They used manual registers to
track and maintain its inventory as well as determine which products were realizing the
most profit. The profits from the nursery were either "negligible" or a loss. They did not
have access to useful operational data to effectively manage their business. For
example, they did not track or review the margins of individual products. However, they
elieved that they needed to do something different for their $1M business operation.
Enter a new point-of-sale system (POS) in 2008. The system allowed the owners to track
useful business data from the sales transactions immediately at the time of the sale;
eliminating the need for tracking sales manually. The system processes and stores data
from the sale while updating the inventory as well as compiling a sales history. This
eliminates reliance on manual entry of sales transactions and reduction of inventory
units for the items sold. POS systems provide much more than a cash register. These
systems provide more robust functionality in inputting, tracking, and distributing data to
provide useful information to operate and manage the business.
Accurate inventory data maintained by the POS helped with decision making. Decisions
on how many units of a product to order were no longer based on speculation about
cu
ent inventory units. Now, accurate inventory counts eliminate the guesswork on
how much to order, helping the business to operate on leaner inventory units. The
system's reporting can provide the detail transactions for an inventory item, such as how
many were purchased, discarded, and sold.
The implementation of a POS system also confirmed that the owners did not know as
much about their business as they thought they did. As they reviewed reports from the
new system, they saw that some products were less profitable than they thought. The
more detailed cost reporting by item helped them to understand which products
contributed the most profit to the operation. Their new perspective of the "real costs"
provided the opportunity to shift production to the higher-profit items, thereby gaining
more profit. Prior to implementing the POS system, they simply did not have the time to
approach this level of decision making.
Knowledge of their detailed product costs helps them to price products more profitably.
Price changes can be implemented temporarily (for a promotion) or permanently and
still remain within acceptable product margins. The accurate and timely reporting of this
information assists them to be more effective managers of their business operations.
The ability of the system to process sales, inventory, and purchasing transactions
immediately reduces the need for data entry of paper information. The time savings can
e used for managing the business rather than mundane clerical functions.
The new system has expanded Four Seasons' management control over employee
schedules to review and allocate labour expenses to specific departments and functions.
An additional benefit allows the owners to delegate more responsibility to the staff and
establish accountability. Instead of the owners establishing goals, they provide the
HC1041 IT for Business - Trimester 1 2018

3
system's data and ask staff to submit their sales goals for the next reporting period.
Ultimately, the information technology system creates a solid infrastructure to process
and report the businesses operations for the entire enterprise.
The garden centre is an excellent example of how technology can realize benefits for a
usiness. The ability for organizations to remain competitive and agile is crucial. These
systems allow organizations large and small to leverage business data to gain a
competitive advantage and operational efficiency.
Source: Jones, R. (2011, May). Garden Center 2.0. Today's Garden Center, 8, 14-16.
Assessment Criteria (Individual Assignment 25%) Weighting

1. Introduction:
Clear statement of purpose, clarity of methods and assumptions;
systematic approach to project.

2. Use of resources:
Application of relevant course concepts, tools and frameworks use of
evidences, engagement with the literature.

3. Content:
 Balanced coverage of each of the important points,
 Richness of analysis;
 Flow of ideas;
 Validity of objectives,
 Use of own insight and originality;
 Feasibility of recommendations and implementation
consideration

4. Organization and Presentation:
Clarity of structure, quality of presentation, style and readability.
Title page, Table of contents, List of a
eviations and/or glossary,
Executive summary/abstract, Introduction, Body, Conclusion
Recommendations, Bibliography, Appendices

5. Citation practice:
Appropriate citation of sources and evidences used.

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Answered Same Day May 22, 2020 HC1041

Solution

Ankit answered on May 23 2020
115 Votes
Student Numbe
                    Student Name
                    Assignment Title
                Table of contents
    Title
    Page No.
    Introduction
    3
    What are the advantages of New POS system?
    3
    What are the Disadvantages of New POS systems?
    4
    How will this POS system help the business gain competitive advantages?
    4
    What are the advantages of having a centralised database?
    5
    How could this POS system facilitate decision making?
    5
    Recommend telecommunication options for this POS system
    6
    What type of risks does the POS system
ing and how to protect the business against the risks?
    7
    References
    8
Introduction
There is requirement of IT for every business. No matter it is small size business, medium size or big size, the IT offer various benefits for all size of business. The IT impacts the business operations accuracy. The information technology helps firms to remove dependency of paper work and firm depends upon digital databases to save essential data. The main purpose of this report to show how information technology helps for small sized business named Four Seasons Greenhouse and Nursery which is situated in Colorado. (Presentsoft)
Four Seasons Greenhouse and Nursery is small business of nursery. In the past they ran their inventory manually but there were various disadvantages to maintain inventory on paper. During the year 2008, Four Seasons Greenhouse and Nursery built new point-of-sale system (POS). In this document we will focus on the advantages and disadvantages of the new POS system, how will this POS system help the business gain competitive advantages, advantages of having a centralised database, How could this POS system facilitate decision making etc. for small sized business named Four Seasons Greenhouse and Nursery.
The advantages of New POS system as listed below:
· New POS eliminates human e
or
· It is very beneficial for business in long term
· Manage the sale data and sale history easily
· Increase the efficiency of business
· Keep accurate records of day to day transaction
· New POS system generate the reports about the volume of inventory or other things accurately
· Paper work get decreased with new POS system
· Easy for staff to manage their sale (SolutionDots 2016)
The Disadvantages of New POS system as listed below:
· For new POS system there is requirement of reliable internet connection to maintain POS system and for sale transactions.
· The POS system software upgrade is expensive and consume a lot of time.
· When there is expansion of business involved then there is need to pay for new licences of POS system.
· Company need to pay monthly or yearly software fee.
· There is security risk for payments that required the details of customer credit or debit card. (Hamilton 2013)
The new POS system will help the business to gain competitive advantages
Today every business requires IT to gain competitive advantages and maximize their productivity. So same is the case with this nursery business as listed below:
1. POS system aids in easy management of stock. It helps the owner not only in easy management of stock levels but owner can also have check on their sales chart of different items to...
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