Information and Corporate Strategies in the Development and Rapid Progression of Organizations - Case Study Example

?Managing Information INTRODUCTION Strategy means using the best option available to any organization in succeeding in its goals and choosing the objectives to be pursued. Effective strategies achieve advantages for the company because it uses its resources competitively to meet market needs and comply with the expectations of its stakeholders. Information and corporate strategies play an essential role for the development and rapid progression of organizations, and company policies constitute information management strategies which should be implemented in an effective manner and communicated to the people working in the organization. It is important because in the absence of long term information and corporate strategies, it is not possible for the company to succeed (Faulkner, 2013). ALIGNMENT STRATEGIES Companies adopt different alignment strategies because there is no single structure for a business strategic plan that would fit with every company effectively. An effective information and corporate strategy must communicate effectively among all levels of employees whether they are management or are in the rank and file. Currently it is a recognized fact that knowledge is essential for managers for their organizations to survive and prosper. Information systems are also important for the effective implementation of corporate strategies because it controls organizational ability and enables competitive advantages to companies. A strategic plan is not the same as an operational plan because it is creative and perceptive and evaluates things in the long run (Aloufi & Kabir, 2013). Case Study The role of information management is to support corporate strategies. This case study is about “Tree Top Incorporated”. The company needed to improve the customer services to increase revenues and also to for greater margins for stock-holders. They decided that replacing their existing software would upgrade business processes because their current software was not adequate to meet customer demands. The management of Tree Top Inc also perceived this as an opportunity to move forward their corporate goals by aligning the new software with corporate strategies. Although they had decided to change their existing systems in phases, they had to make sure that the new systems would get the desired results in the shortest time possible. They also had to ensure that the new system would help measure their progress in the achievement of their goals. The management decided that “Intentia” Application Suite suited their requirements because it was designed specifically with aligning marketing information with corporate strategies (Thompson, 2006). Planning the Strategy To implement the new marketing software with corporate goals, a team of Tree Top and Intentia started the project. The team met separately for each business operation and met with respective management representatives for each operational activity. The first and most important aspect was to include Tree Top’s business strategies in software such as how many people were involved in monthly estimation of the amount of product to be created and sold. This included other data, such as product groups, markets, locations and monetary information. It was also recommended that customer service be calculated by “crucial functioning conditions”. Overeaters Anonymous (OA) recommended operational activities that had a direct bearing on “Key Performance Indicators” such as improving order entry/maintenance which would work very well with the order metric. This could probably mean that maintenance improvements the company’s return on equity. Other essential business activities such as sales, production would improve by selecting the appropriate personnel to implement the best practices which would in essence improve overall corporate strategies which numbered around thirty five best practices . It was practically not possible to implement all thirty five best practices, so it was decreased to the nine best practices which would best suit Tree Top for aligning information management with corporate strategies. This was achieved after the team of Tree Top and Intentia determined that these nine best practices would increase production, customer services and a better return on equity (Harvard Business Review, 2011). IS/IT systems of a typical high street estate agent Like all businesses, estate agents are using technology for ease of transactions and there are systems and software designed especially for real estate agents. Typically, estate agents prefer IT systems that eliminate the need for a desk in the office and system and software which will computerize lead distribution for multi author blogging. Another much needed feature for the agent would be remote access and effective management of leads and reports via the Intranet. The system and software should also be compatible with cell phones for large scale SMS messaging for the dissemination and receipt of information. The system must be able to scan and store documents and receipts and could be accessed by remote. Estate agents also need online faxing that would deliver PDF files to computer systems for away from office access (Kimmons, 2013). The World Wide Web is very useful for real estate agents to display their services and also as a marketplace for real estate transactions by using the special tools of communication that the web offers. The web will bring together agents and salespeople, appraisers, lenders, title companies, insurance companies and much more. Real estate agents are now effectively using the Internet and tailor made software for all their business requirements (Kersnar, 1996). Case Study Leon Katz a realtor in California used the Internet to do business in various parts of the world. Leon Katz owns Commercial Brokers Inc situated in Torrance (California). He realized the potential of the WWW and how financially rewarding it can be. Using the Internet he started selling and buying real estate in different parts of the world. He became aware of the enormous potential of international clientele when he met a real estate broker from the Philippines who had several international investors and clients. He obtained the association of Commercial International Property Specialists (CIPS). The training and education obtained from becoming a CIPS gave him the tools and information needed to understand and handle international clients. This included a Pilipino banker who had land in many parts of the world and who planned to develop and then sell the property. The banker agreed to let Leon Katz have his listing which substantially increased his business and his finances. He posted the property at WorldProperties.com and soon investors started contacting him to invest in properties in different parts of the world. The foremost reason was that the recession was affecting property prices in different ways in different parts of the world, and the investors could make the most of their investments at the appropriate time. The banker introduced Leon to many other international investors and he communicated with them effectively and easily using the Internet (Allen & Jeffress, 2008). Suggestions for the use of IT Technologies in the Real Estate Business Real Estate Agents should have a web site because a large number of buyers and sellers use the Internet to search online for their requirements. The websites of real estate agents should be consumer and search engine friendly because most Internet searchers do not have the time or aptitude to spend too much time looking at any particular site, especially if the information they need is not easily available. Currently most people use their cell phones for Internet surfing, emailing and accessing websites for information. So obviously websites of real estate agents should be easily accessible via cell phones. The websites should include lots of videos for agents to showcase their services and properties that they are currently listed for. Sometimes potential clients who will not go through websites will probably prefer to look at videos which they can relate to and understand better. The more that real estate agents use technology and the Internet, the more successful they will be in their business (Smith, 2013). Technology for Real Estate Agents For real estate agents to survive they must be competitive by embracing all aspects of IT technology. Buyers and sellers both have volumes of Internet data, and will probably not deal with an agent who does not use the net for business transactions. Clients will deal with agents who understand contact management systems, PDA’s, virtual office, Microsoft and Apple products, recorders, cameras and scanners. Real estate agents will receives faxes via email, automatic mail alerts of recent listings and CMA emails which is probably the best way for home sellers to learn the market value of their homes and how they can negotiate the best prices. According to the National Association of Realtors of Realtors Technology report, more than 75% of real estate agents showcase their listings on the Multiple Listing Systems on the Internet (Champion School of Real Estate, 2013). Database Components Microsoft Office has developed easy to use templates for the real estate business that can be easily downloaded in a new access page. Besides the traditional components of any system comprising of the computer case, power supply, motherboard, processor, memory cards, hard drive, CD/DVD drive, graphics and video cards, monitor, keyboard and mouse, software is also consideredconsidered being an essential component for the system to be used by real estate agents. The software must include programs a listing organizer that records and keeps track of all available property listings, reports and web catalogs, there must a “Client Organizer” that maintains the agent’s contacts and has software to print letterheads, labels and send automated emails and a Web Resource Organizer which must have mapping systems, calculating devices and real estate agents glossaries etc. For power users, Organizers also include simple wizards that can be conveniently set for effectively using the database organizers that the agent creates (Lysis, 2013). Suggestions for Improve in IT technology and usage Improvements would include simple, ready to use solutions for Real Estate Agents with friendly interfaces that allow the agent to quickly and conveniently organize listing, business contacts and web resources. Most software comes with many ready to use databases that will meet all needed requirements, but the agent can design and install his/her own database according to his needs. The database should be easily accessible from anywhere and must enable viewers to view data in appropriate rows and columns. The software should allow the agent to modify or add data and quickly create data explicit instructions and information. The software must be able to save time in accessing and organizing records which should include tasks that take too much time and repetitive procedures (Swinscoe, 2013) Real Estate Agents can improve customer services by having all the information available on their websites which both buyers and sellers need. This includes access to their websites on cell phones, email faxing and messaging which to give the client instant clarifications for queries and clarifications. Despite all the available technology, customers still like to speak to someone for obtaining information or clarifications. For this, real estate agents must have a helpline manned by an operator during office hours. Sometimes the person that the client wants to talk to is busy on another line, and customers are put on hold. Most people dislike holding for too long so let them know how long they will be on hold and get a number that will call them back automatically once the person is free. Using technology, real estate agents can make options available for customers who like to help themselves. This means having company websites and third party review sites. The thing is to use technology in any manner that will satisfy the customer and increase enquiries which can turn into sales if the customer is handled in a proper manner (Weiss, 2013) Employment Management Software Many software companies design specific software for employee management. The software is programmed to revise data for all employees, it adds new employees, records the transfer, promotion and termination of employees. All the employees in the data are entered with the designations/positions in the company and relevant information which includes remuneration, employment terms and can also check to ascertain productivity levels, whether the work is being duplicated, i.e. are two employees doing the work of one, employment history and other essential for maintaining and updating the profiles of all employees Effective employee management software improves management and worker performance because with it employees can perform many human resources tasks online. The software also considerably reduces the need for paperwork because it manages timesheets, expense reports, purchase order and much more online. Printouts are only taken when necessary and for whatever document necessary. This frees a lot space that was previously used to store paper files. It also minimizes the chance of errors that occurred because of manual entries and handling of documents. It also improves communication because issues that affect employees can be easily accessed through employee directors which will also show company policies and employee benefits. The software also keeps records of the number of hours that the employee has worked and the task that he/she was working upon. Employee reports are available to management for reviewing and such systems create a flexible working environment to monitor quality control and officially authorized conformity (NetSuite, 2013). The introduction of new technology, or upgrading software or hardware might change the way it is accessed and managed. Without careful planning and pragmatic outlook, the change can raise as many problems as it is supposed to solve. The biggest problem that can be anticipated is the attitude of the people who will be using it. Usually people dislike change, because it means adapting to new methods, and new and advanced software and hardware. Another issue that should be appropriately handled is that every company needs to plan as to what the new system and software will be used for. The first thing for introducing new technology is that there are many reasons to automate and upgrade which includes: More information can be stored using less physical space Several access points can be created and information can be easily accessed with the use of different search methods Information can be categorized, accessed or reorganized from anywhere It is easier to copy information to protect it from being stolen or other losses by doing a regular backup of data and storing it in a safe place and much more (Crayne, 2011). The most pressing issue that usually comes up when changing or upgrading software or hardware is the attitude of the people working on the system. Other issues include installation procedures and using the software and hardware in the correct manner. Computers can be quite sensitive and mishandling them might result in damages. Other issues include training and education of the people who will be working on these systems. They have to be taught the way the new systems and software work which could be quite different from the systems that they have been working on so far. Apart from other issues that can be easily handled, the biggest challenge is going to be the attitude and the manner in which the employees take to the new systems. If that is handled well and employee response is positive, then the newly introduced system and software will benefit the organization with its latest innovative technology (Brynjolfsson, 1993) References Allen, D., & Jeffress, J. (2008). International Real Estate Best Practice Studies. Retrieved December 26, 2013 from http://www.realtor.org/cipshome.nsf/files/International%20Best%20Practices%20Case%20Studies%20V2.pdf/$FILE/International%20Best%20Practices%20Case%20Studies%20V2.pdf Aloufi, K., & Kabir, M. (2013). Strategic Information Systems Alignment: Alignment of IS/IT with Business Strategy. Journal of Information Processing Systems, 6(1), 121-128. Brynjolfsson, E. (1993). Information Systems and the Organization of Modern Enterprise. Journal of Organizational Computing, 08. Champion School of Real Estate. (2013). Automated Systems and Technology for Real Estate Agents. Retrieved December 26, 2013 https://www.championsschool.com/Industry-knowledge/Automated-Systems-and-Technology-for-Real-Estate-Agents.php Crayne, J. (2011). Introducing New Technology Successfully into an Agency and Why Your Organization Needs a Technology Plan. Retrieved December 26, 2013 from http://www.coyotecommunications.com/tech/techbuy.html Faulkner, B. (2013). Information Management in Corporate Strategy. Retrieved from ehow.com: http://www.ehow.com/info_8050426_corporate-information-strategy-management.html Harvard Business Review. (2011). Harvard Business Review on Aligning Technology with Strategy. Harvard: Harvard Business Press Books. Kersnar, S. (1996). NetSuccess: How Real Estate Agents Use the Internet. Cambridge: O'Reilly Media. Kimmons, J. (2013). Using Technology for Real Estate Brokerage Growth & Agent Retention. Retrieved December 26, 2013, from http://realestate.about.com/od/brokerofficemanagement/a/tech_brokerage.htm Lysis. (2013). List of Components Inside Computer. Retrieved December 26, 2013 from http://www.ehow.com/about_5378057_list-components-inside-computer.html NetSuite. (2013). Human Capital Management. Retrieved December 26, 2013 from http://www.netsuite.com/portal/products/netsuite/human-capital/employee-resource.shtml Smith, B. (2013). Effective Features for a Website for 2014. Retrieved December 26, 2013 http://rismedia.com/2013-12-19/4-most-important-features-of-an-effective-real-estate-website-in-2014/ Swinscoe, A. (2013). Ways Technology Can Improve Customer Service. Retrieved December 26, 2013 from http://www.biztechmagazine.com/article/2012/07/4-ways-technology-can-improve-customer-service Thompson, O. (2006). Aligning Information Technology with Corporate Strategy. Retrieved December 26, 2013, from http://www.technologyevaluation.com/research/article/Aligning-Information-Technology-with-Corporate-Strategy.html Weiss, A. (2013). Three Ways Upgrading Technology Can Improve the Agent/Client Relationship. Retrieved December 26, 2013 from http://www.propertycasualty360.com/2013/12/10/three-ways-upgrading-technology-can-improve-the-ag . Read More