Saturday, February 22, 2020

Enterprise Resource Planning Coursework Example | Topics and Well Written Essays - 750 words

Enterprise Resource Planning - Coursework Example In the meantime the very best ERP vendors show and provide a map on how to transition their clients from their current business practice to the industry best practice and regulatory compliant processes. It should be noted that it would be in the best interest of most ERP vendors to extend the time of an implementation because it simply means a longer engagement which would assure a steady cash-flow for the ERP vendor. It should also be noted that most client companies consider their process one of the best if not the best process in the industry and that most employees or even managers and leaders of the organization’s comfort zone lies in their own legacy processes. The last two sentences are inversely proportional to the length of engagement of the ERP vendors depending on the group to which they belong (good, very good, better or the best). It is therefore noteworthy to consider that it would be in the best interest of the ERP vendor to extend their engagement with a partic ular client. There are several considerations in implementing ERP in a company, this would include acculturation and assimilation of ERP supported processes and the integration and use of the ERP in the everyday activities of the company. Thus, ERP is not simply implementing applications after application it also include change management from the corporate cultural level. The acculturation and immersion of the ERP into the culture of the company is considered the most potent critical success factor for any ERP implementation and leaving this responsibility to vendors may not be a good business decision.. An ERP implementation should not be considered as an IT project but rather a project involving the entire organization to ensure its success. All Business Process Owners and Subject Matter Experts in the organization should not only be tapped as a resource but rather they should be the lead architect in defining the scope or blue print of the entire organization’s processes and their inter-relation with each other. The ERP vendor for its part should be able to define and provide a detailed map on how to provide solutions to the gaps discovered between what is provided by the ERP solution and the blue printed business processes. During the realization stage of the ERP project or the stage where most of the development of the solutions to the gaps are resolved, extensive testing of actual data should be done by the subject matter experts and the users themselves. During data migration actual retrofitting of the data should not only be exact but their subsequent application to the system and the output that should be derived from them should be perfectly streamlined. Training should not be confined on how to use the system but the training should also cover how to resolve conflicts. The training should cover areas and subject that would enable the client to be self-sustaining and self-reliant. Go live and support should include stress testing and process exception handling to ensure that even during the most arduous conflict the entire competence team of the client would be able to resolve and provide solution to the conflict if not a temporary work around. Given the above, ERP clients or potential clients should not let ERP vendors define their requirements for them, while the ERP vendor can be consulted on what is the industry standard as implemented in the ERP solution their

Thursday, February 6, 2020

Toxic Asset (Business Law) Essay Example | Topics and Well Written Essays - 1500 words

Toxic Asset (Business Law) - Essay Example Toxic assets are also known as dead assets because they have been utilized in the past and they are of no more value at present. â€Å"Toxic assets had a value at some point in time† (Smith, 2010). Toxic assets do not have any present value whereas many people, who have such assets, believe that their toxic assets are still of the same value as they had in the past. However, the reality of the value of those toxic assets is quite different. Toxic assets often result in minimizing the liquidity of the organizations that possess such assets. It is because of the fact that toxic assets have no clear value and if the financial organizations such as banks acquire a large number of toxic assets assuming them to be of great value, minimal liquidity occurs because the value of the assets does not increase in reality, rather it just increases in the bankbooks. The banks find it very difficult to sell the assets in order to get the blocked money back in hands. Toxic assets are neither good for financial organizations nor for the economy of a country. They are worthless for the banking institutions as it becomes difficult for the banks to sell them to some other person at a reasonable price. Even if the financial sector of a country attempts to cope with toxic assets, the result is most likely to be the radical freefall of the country’s economy. Toxic asset is a form of Mortgage-Backed securities. Mortgage-Backed securities include loans that are given by a bank to a person to help the person build his own house. Banking institutions provide loan to the people, which is taken back from them along with interest on monthly basis. The repayment of loans to the banks is not an easy process for the people as the repayment is composed of high interest and the principal amount. When the people are not left with enough money to repay the loans to the banks due to increased sub-prime mortgage interest rates, the cycle stops and