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Strategic Information Systems (SIM) Assignment Solved

   

Added on  2020-11-12

19 Pages4127 Words359 Views
STRATEGICINFORMATION SYSTEM

TABLE OF CONTENTSINTRODUCTION...........................................................................................................................1MAIN BODY...................................................................................................................................11. Critical success factor for company and primary objectives...................................................12. Formal organisational chart for Commonwealth Bank............................................................33. Analyse current system and identify specified control weakness that must be addressed......64. Primary features of new system and relevance of advanced technologies as MRP, MRPIIand EDI .......................................................................................................................................85. Technology platform, financial and non-financial data, management reports and potentialsecurity risks..............................................................................................................................10CONCLUSION..............................................................................................................................12REFERENCES..............................................................................................................................13BIBLIOGRAPHY .........................................................................................................................15APPENDIX....................................................................................................................................17

INTRODUCTIONStrategic information system (SIS) is that system which is developed within corporatebusiness initiative as it is intends to gain competitive advantages to company (Alamri, Ballahmarand Zafar, 2016). The main aim of SIS is to provide all products and services at lower cost thanothers in the market so that company can focus mainly on its marketing segment or theinnovations. There is also another feature within this which is Strategic Information Management(SIM) that helps firm to include, store, collect, process and transfer the data which business iseither receiving or creating.This report is based on analysing Strategic Information System which incorporate factorfor the success of Commonwealth Bank and Australia and New Zealand Banking Group (ANZ)is also taken to compare both. Commonwealth Bank primary objectives along with theorganisational chart displaying the formal communication and role of each level of employees.Further, the report will continue with analysing current system and identifying controlweaknesses that could be addressed by new and improved system. The primary feature of thesystem will be explained with its best solution like that of MRP or MRPII and EDI as well. MAIN BODY1. Critical success factor for company and primary objectivesCommonwealth Bank of Australia (CBA) is the multinational bank within the bankingsector of Australia which is operating all across New Zealand, Asia, UK and USA. The bankprovides all type of financial and banking services like retail, fund management, insurance,superannuation, institutional bank, investment and broking services (Company Overview-Commonwealth Bank. 2018). Commonwealth Bank of Australia was founded in 1911 by theAustralian Government and then privatised in 1966 being among big four banks of country.The main and critical success factor of Commonwealth Bank in market of Australia andother parts of world will be their future strategy which is focusing on creating long term valuefor their customers, shareholders and people. Some factors for success of Commonwealth Bankof Australia:Market share: It can be increased by firm with the current customers available in themarket that effective services will help them to attract towards business. The firm must beservice oriented while dealing with consumers (Torres, Mayo and Jiménez, 2018). Onlineprocess improvement is also a way from which the firm is able to achieve fulfilment effectively.1

Customer valueThe factor of success of bank is value which they are giving to their customers.Innovative ideas in relation to their products and services and long term policy formulation aswell. Commonwealth Bank is very much customer focus as they continue to secure and enhancefinancial wellbeing of the consumers so that they are giving outstanding experience to theircustomers as well (Innovative Total Capital Solutions. 2018). Major strength of company is theirlearning and growing during the time of financial crisis and making themselves stable all throughtheir tougher phase. This help customer to believe into Commonwealth Bank that they will be able to securemoney and investing into some powerful investments as well. The bank is also having strong andflexible balance sheet so that it could ensure long term customer support and employing rightresource and workforce to capitalize onto opportunities (Loebbecke and Picot, 2015).TechnologyApart from this another factor for the success of bank is their use of technology andinnovation that help Commonwealth Bank to grow and grab their market on wider platform.Company tend to apply world class technology so that they are able to meet growing andchanging need of customers, CBA is developing applications helping in leveraging real timecapabilities and so that they are able to communicate with clients.The core banking system which is linking each branch and customers of bank to itscentralised technology and operating in better way is the future and present of banking sector ofworld (Sarif, Yunus and Ab Rahman, 2018). Commonwealth Bank is delivering best and betterfeatures for the customer’s convenience that help them to operate their bank account 24*7. Sothe group is working as per their Core Banking System which is a project focusing on continuousinnovation with betterment in distributing good benefits to their clients all across. Apart from this another factor for the success of bank is their use of technology andinnovation that help Commonwealth Bank to grow and grab their market on wider platform(Commonwealth BankOUR STRATEGY. 2018). Company tend to apply world class technologyso that they are able to meet growing and changing need of customers, CBA is developingapplications helping in leveraging real time capabilities and so that they are able to communicatewith clients.2

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