Strategy Development
Present and explain five key IT/IS initiatives that should form company’s (mobile industry company) 3-5 year IT/IS strategy. You should present this strategy using Earl’s Risk & Return Portfolios taxonomy, then by briefly explaining / justifying each of your IT/IS initiatives in terms of business benefits risk and return.
i hope someone can explain to me how to do it..
i don't get any information on earl's risk and return on the net so i don't know how to answer it..i don't know what are the IT/IS initiatives to present it with the risk and return so i would be thankful if someone explains to me with an example on how to do it
Shalini, i also am a business student and we were given the exact SAME assignment as you have mentioned above.
I too am confused as how to start and get an overall understanding.
It would help me alot, if u could help me with how you did the project?
Awaiting your reply.. Thnk u ..
This isn't explained in a textbook you have for the class? Or in any other reference your teacher has named or given you? Very odd.
Well, if not, you need to learn how to search efficiently for information for yourself.
http://hanlib.sou.edu/searchtools/
At this webpage, you can go immediately to the search sites (first three columns across the top) -- or even better you can scroll down until you see the section called HOW TO SEARCH THE INTERNET. Those are the links to start with. You'll not only learn how to come up with good search terms, but also how to evaluate the webpages you get as results. Some will be good and others will be garbage. You need to know how to tell the difference.
My favorite way to search is to go to Google's advanced search page http://www.google.com/advanced_search?hl=en and put my search words or phrases into the first or second search box (either "all the words" or "exact phrase"). However, there many other strategies for searching you can use, and the HOW TO SEARCH THE INTERNET section will help you best.
For example, I entered Earl's Risk & Return Portfolios taxonomy into the first box of Google Advanced and got this:
http://www.google.com/search?hl=en&as_q=Earl%E2%80%99s+Risk+%26+Return+Portfolios+taxonomy&as_epq=&as_oq=&as_eq=&num=10&lr=&as_filetype=&ft=i&as_sitesearch=&as_qdr=all&as_rights=&as_occt=any&cr=&as_nlo=&as_nhi=&safe=images
hmm i did google like u said above but none of them came in hand
btw this subject im taking supposed to be a own learning module.so we r on our own..we have slides to rely on but it doesnt help much
i will try the advanced search
To develop a strategy using Earl's Risk & Return Portfolios taxonomy for a mobile industry company's IT/IS initiatives, you need to consider both the business benefits and the associated risks. Here's an example of how you can approach this:
1. Initiative: Implement a Mobile Payment System
Explanation: This initiative involves developing and implementing a mobile payment system that allows customers to make payments through mobile devices. The business benefits include increased convenience for customers, improved customer experience, and the potential to attract new customers. However, there might be risks associated with security and data privacy, as well as the need for training and adoption by both customers and employees.
2. Initiative: Enhance Data Analytics Capabilities
Explanation: This initiative focuses on improving data analytics capabilities within the company. By investing in advanced analytics tools and technologies, the company can analyze customer data, identify patterns, and gain insights to drive business decisions. The business benefits include better customer understanding, targeted marketing campaigns, and improved operational efficiency. However, there may be risks related to data security, data quality, and the need for skilled resources to handle and interpret the data.
3. Initiative: Implement Cloud Computing Solutions
Explanation: This initiative involves migrating IT infrastructure and applications to the cloud. By leveraging cloud computing, the company can achieve cost savings, scalability, and flexibility. It also enables remote access and collaboration, which is increasingly important in the mobile industry. However, there might be risks associated with data security, reliance on third-party providers, and potential operational disruptions.
4. Initiative: Develop a Mobile App for Customer Engagement
Explanation: This initiative focuses on creating a mobile app that allows customers to engage with the company's products or services. The app can provide personalized experiences, notifications, loyalty programs, and customer support. The business benefits include increased customer engagement, brand loyalty, and potential revenue from in-app purchases. However, there might be risks related to app development costs, competition in the app market, and the need for ongoing updates and maintenance.
5. Initiative: Improve IT Infrastructure Security
Explanation: This initiative aims to strengthen the company's IT infrastructure security to protect against cyber threats and data breaches. It involves implementing robust security measures, such as firewalls, intrusion detection systems, encryption, and employee training on cybersecurity best practices. The business benefits include safeguarding sensitive customer data, preventing reputational damage, and complying with regulatory requirements. However, there might be risks related to the evolving nature of cyber threats, the cost of implementing security measures, and the need for continuous monitoring and upgrades.
Remember, to create your own strategy, you should tailor these initiatives to suit your specific company's needs, goals, and industry trends. Additionally, you may need to conduct a more detailed risk assessment and perform a cost-benefit analysis for each initiative to determine the overall risk and return.