Improving Current Business Practices: Opportunities to Use MIS
Term Project
You are a top executive in your corporation. After careful consideration, you were selected to work on a project to use MIS to change the way business is run. In a group of 5, you will be responsible for researching the practices in your industry, identify the strengths and weaknesses of the industry, and make an innovative plan to use MIS to improve on current practices. Finally, you will be required to submit a typed report and deliver an oral presentation to the board of directors following these guidelines:
Your report MUST include the following side headings:
1. History and Background (provide detailed information about the industry, past and present business model/practices, the industry’s strengths and weaknesses)
2. Target Customer (identify the target customer in terms of age, gender, income, location, needs…etc. Have your customers’ needs changed over the years? Are all their needs fulfilled? Is there a gap between customers’ needs and market offerings?)
3. Competition (who is your competition? What are your plans to ensure that you are steps ahead of your competition and how will you respond to changes in the competitive environment?)
4. Survey and Results (you are required to design a survey to help you with your project. Be sure to include a copy of your survey questions, sample size, summary of results, and recommendations)
5. Proposed Use of MIS (explain how MIS will benefit your industry/corporation. Provide details of the benefits and challenges of using MIS in your industry/corporation)
6. Implications (what are the implications of the suggested use of MIS on the industry?)
7. Financial Benefits (what are the costs and financial benefits of using your proposed plan? Explain the impact on revenue, fixed costs, variable costs, initial investment, training, implementation, customer acquisition, customer retention, and customer satisfaction)
8. The Future (what changes do you foresee in the future of
You are a top executive in your corporation. After careful consideration, you were selected to work on a project to use MIS to change the way business is run. In a group of 5, you will be responsible for researching the practices in your industry, identify the strengths and weaknesses of the industry, and make an innovative plan to use MIS to improve on current practices. Finally, you will be required to submit a typed report and deliver an oral presentation to the board of directors following these guidelines:
Your report MUST include the following side headings:
1. History and Background (provide detailed information about the industry, past and present business model/practices, the industry’s strengths and weaknesses)
2. Target Customer (identify the target customer in terms of age, gender, income, location, needs…etc. Have your customers’ needs changed over the years? Are all their needs fulfilled? Is there a gap between customers’ needs and market offerings?)
3. Competition (who is your competition? What are your plans to ensure that you are steps ahead of your competition and how will you respond to changes in the competitive environment?)
4. Survey and Results (you are required to design a survey to help you with your project. Be sure to include a copy of your survey questions, sample size, summary of results, and recommendations)
5. Proposed Use of MIS (explain how MIS will benefit your industry/corporation. Provide details of the benefits and challenges of using MIS in your industry/corporation)
6. Implications (what are the implications of the suggested use of MIS on the industry?)
7. Financial Benefits (what are the costs and financial benefits of using your proposed plan? Explain the impact on revenue, fixed costs, variable costs, initial investment, training, implementation, customer acquisition, customer retention, and customer satisfaction)
8. The Future (what changes do you foresee in the future of