Key IT Elements: Value Chain, Social Media, ERP, CRM, and AI
Key IT Elements for Business Success
8 Elements of IT
The core elements of IT include:
- Rapidly changing landscape
- Globalization and competitiveness
- Optimization of resources
- Proactive management of tech solutions
- Strategic leadership
- Evolution of competencies
- Business and relationship management
- Ensuring impact on business
The role of IT is evolving:
- From systems and tech to processes and information
- From tech language to commercial understanding
- From IT cost to creating value for business
- From reactive to proactive
Effective Leadership: Roles, Skills, and Teamwork Strategies
Understanding Leadership Roles and Responsibilities
Heads are the workers who are responsible for one or more subordinates within an organization. They are the administrators of the organization and have a functional unit in charge, meaning they ensure goals and objectives are achieved.
Hierarchy of Leadership
Leadership roles vary based on their position within the organizational structure:
- Executives, Senior Management: CEO, President, Deputy, Director. Typically within the top three levels in large
Strategic and Tactical Planning in Organizations
Nature of Planning
The nature of planning contributes to the increasing degree of success of organizations. Decisions are required today to achieve results in the future.
Types of Plans
- Strategic Planning: Developed to meet organizational objectives as a result of strategic management (long-term).
- Tactical and Operational Planning: Developed to achieve operational goals (short-term).
Strategic Planning
Developed by senior managers in order to meet long-term organizational objectives. The main types of
Read MoreUnderstanding Business: Definition, Types, and Strategy
Defining Enterprise
An enterprise is defined as a collection of material, human, technical, and financial resources, organized and managed by an entrepreneur with the goal of generating profit.
Classification of Companies
Companies can be classified based on several criteria, including the number of workers, revenue, and assets.
| Number of Workers | Revenue | Assets | |
| Microenterprise | < 10 | < €2 million | < €2 million |
| Small | 10-49 | €2-10 million | €2-10 million |
| Medium | 50-249 | €10-50 million | €10-43 million |
| Large | 250+ |
Business Structures: Organization, Sole Traders & HEINEKEN
Company Organization Chart
The business organization chart is headed by the Board of Directors, led by the chairperson or president. Below the board is the company director, who is responsible for five departments, each led by senior managers.
Company Departments
- Production Department: Responsible for producing goods efficiently, on time, and in the agreed-upon quantities.
- Marketing Department: Composed of three units:
- Market Research
- Sales
- Advertising & Promotions
This department identifies customer
Effective Budgeting: Planning, Control, and Financial Management
Effective Budgeting: Planning and Control
Budget: This is the final step in planning, quantifying the program with details on timing, sequence, and resource allocation.
Capitalizing on necessary resources, a program quantifies its elements, enhancing its effectiveness. The budget is an estimated figure that should be approached conservatively, with volume clarifications to avoid last-minute modifications.
Ensuring adherence to criteria is crucial, as the budget permits scheduled check-ins between the
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