E-Business (For Information Technology class) Essay

E-Business (For Information Technology class) - Essay Example The bank's mission is to provide value added services to its customers in an efficient, timely, robust and reliable manner. It strives to become the bank of choice for its customers around the country. In order to achieve its mission objectives the bank needs to implement information technology bases systems to upgrade its current manual system which is tardy, slow, non-responsive and unreliable. This report is developed with a view to establish a framework for strategic IT direction for the bank. In addition, the rationale, extent, and timelines for implementing the information systems and technology within the bank have been identified and discussed. The purpose of the report is to establish a strategic plan for IT for the bank, to apprise higher management with the benefits and the value addition that IT provides to the business, the contemporary approaches to implementing IT based systems in financial industry and to provide recommendations customized to ABC Bank's operations. The report begins with an introduction of E-Business, describing the key areas and applications that this term covers; it then provides an insight into the latest IT trends in businesses; specifically banks around the globe. It is then followed up with the current issues and strategies that the businesses are adopting and dealing with in order to provide state of the art services to stakeholders. Suitable e-business systems are identified for the bank and recommendations are provided for IT managers to develop, acquire and implement e-business solutions. A tentative timeline for each strategic proposed solution is also provided. 3. BACKGROUND E-Business or Electronic Business, a termed introduced by Lou Gerstner (CEO of IBM), is defined as a business process that relies on automated information systems to function (Wikipedia.org, 2007). E-business is not just e-commerce, a technique for establishing and maintaining relationships with customers and suppliers online and over the internet; rather an e-business system spans over the entire value chain of the organization. It integrates the internal and external processes of the business. E-business applications can be generally divided into three categories namely (Wikipedia.org, 2007): Internal business systems (customer relationship management, enterprise resource planning, document management system, and human resource management); Enterprise communication and collaboration (VoIP - Voice Over IP, content management system, email, voice mail, web conferencing); and Electronic commerce (online marketing, internet shop, open catalog, supply chain management) The use of e-business techniques and applications allow the organizations, an ability to track resources, log expenses and revenues for proper

Performance Appraisals and Reviews Term Paper Example | Topics and Well Written Essays - 2000 words

Performance Appraisals and Reviews - Term Paper Example The workers are aware of what is expected of them and hence work towards fulfilling their expectations. Since annual appraisal are involving and time consuming for managers, they arrange to carry out surveys or reviews on a regular basis in order to simplify the annual appraisal process (Arthur, 2008).All members of the organization are subject to appraisal if the organization has to achieve its vision and mission and improved performance. Communication is vital in carrying out performance appraisal. The management discusses with the employees regarding their performance and areas that require assistance and also involve them in designing appraisal forms. Conducting annual salary reviews which coincide with performance appraisals have been criticized by many scholars but Chapman (2011) argues that using annual performance appraisal as the basis for salary review enables the firm to plan its finances for the next budget year. When carrying out performance appraisal, the managers shoul d ensure that the mode of appraisal is in line with the employment laws which prohibit all kinds of employment discrimination. For the employees to trust and accept the results the method used should be consistent; ‘same employee classifications should be evaluated based on the same criteria’ (Arthur, 2008). ... Procedure for Carrying out Performance Appraisal Proper planning and execution of staff appraisal ensures effectiveness, reliability and validity of the results. It also ensures acceptability by the appraisees hence commitment to achieve the set objectives. Involving staff in every step of the process is vital to ensure a feeling of ownership and commitment. The appraiser and appraisee prepare all the materials required for the appraisal such as past appraisal documents and achievement records. The appraisal form is designed by HR department or through collaboration with those being appraised and with the approval by management. Understanding the appraisal form by the appraiser and appraisee is vital in simplifying the process (Bohlander & Snell, 2010). The items to be discussed are sequenced and encompass all aspects of staff development. Self-assessment forms are given in advance for staff to appraise themselves by filling the forms. The next step is to clarify the purpose of the a ppraisal and the method to be used. The appraisee is informed on the date of appraisal and the venue and given ample time to prepare his/her own records. The venue should be carefully chosen in a private and quiet atmosphere for discussion. The layout of the room and sitting arrangement affects the behavior of the person being appraised. It is thus advisable to set the room in a relaxed atmosphere to reduce tension. Bacal (2003) argues that the managers should choose appropriate sitting position such as at a round table for more informal discussion and relaxed atmosphere. The introduction stage is vital in determining failure or success of the process. If the appraiser begins by criticizing the appraisee, he/she may feel uncomfortable and may lose interest