Day 4 and 5-MANGT 366
Day 4 and 5-MANGT 366 MANGT 366
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This 2 page Class Notes was uploaded by Kathleen Tann on Friday September 11, 2015. The Class Notes belongs to MANGT 366 at Kansas State University taught by Brian Kovar in Fall 2015. Since its upload, it has received 38 views.
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Date Created: 09/11/15
Day 4 PMT FUNCTION Use to calculate the periodic payment on a loan Assuming monthly 0 NPERnumber of payment periodsnumber of years 12 months 0 Rateannual rate12 Amount of loan entered as negative so function ends positive Ch 3 Strategic Initiatives for Implementing Competitive Advantage Use IT for competitive advantage Great products doesn t matter if you don t have a good process 0 You want customers to buy your product 0 Have to be able to produce at price customers willing to pay To do something better than competitors 1 Get more money coming in or cut cost 2 Find bottlenecks and remove redundant tasks When making changes alternative business process should be effective efficient and adaptable Day 5 Ch 3 Continued Changes to Improve Business Processes o Automationtaking what you do manually and letting a computer do it 0 Operational process 0 Streamliningsimplify steps to complete task 0 Managerial process 0 Eliminate bottlenecksredundancies Reendineer Business Process nd completely different approach outside of the box 0 Strategic process change 0 Focus on big changes rather than margin processes that have little impact Finding Opportunities Using Business Process Improvement Company can follow same path as before just do it faster Business Process Improvement looks at taking different path Can also improve competiveness Focus business intelligence and data analytics 0 Understand factors that in uence business 0 Make better decision to beat competitors which is the GOAL Cloud Computing 0 Resources and applications share server on Internet 0 Computing in the internet Respond on the y and change as you need to 0 Flexible 0 Internet is platform for computing 0 Google is recognized as leader in Cloud computing Bene ts of Cloud Computing 0 Lower total cost of ownership 0 Reduced softwarehardware costs 0 Someone else maintains the system 0 Someone else provides software hardware help desk support and training 0 Easy to switch to another provider 0 Pay only for what you use 0 Access to updatesupgrades