Q1: What are Business Ethics?

Why are business ethics an important

requirement for management?

What are Business Ethics?

Business ethics is the application of moral and ethical principles to guide the behavior
and decisions of individuals and organizations in the business realm. Rooted in values
such as transparency, fairness, accountability, and respect, business ethics entails
making morally informed decisions that balance the interests of stakeholders,
including employees, customers, investors, and the broader community. This concept
encompasses corporate social responsibility, ethical leadership, stakeholder
engagement, and compliance with laws and regulations. Ethical businesses aim not
only to avoid wrongdoing but also to proactively contribute positively to society,
fostering trust, sustainability, and a favorable reputation. By adhering to ethical
standards, businesses navigate the complexities of modern commerce while aligning
their actions with societal expectations and long-term success.

Why are business ethics an important requirement for management?

Business ethics are an essential requirement for effective management due to several
compelling reasons. First and foremost, ethical behavior forms the foundation of a
company's reputation and credibility. By upholding high ethical standards,
management fosters trust among stakeholders, including customers, employees,
investors, and the public, which, in turn, enhances the organization's long-term
success and sustainability.

Secondly, business ethics contribute to a positive organizational culture. When

management demonstrates and promotes ethical conduct, it sets an example for
employees to follow. A culture of ethics fosters employee engagement, loyalty, and
productivity, leading to a harmonious work environment and improved morale.

Ethical decision-making also helps mitigate legal and financial risks. Businesses that
operate ethically are more likely to comply with laws and regulations, reducing the
likelihood of costly legal disputes and penalties. Furthermore, ethical practices can
safeguard against reputation-damaging scandals, which can have severe financial
consequences.

Effective stakeholder management is another key benefit of business ethics.

Management that considers the interests of various stakeholders builds stronger
relationships and partnerships, leading to improved collaboration and support from
stakeholders. Ethical behavior enhances customer loyalty and attracts socially
conscious investors, contributing to a competitive advantage.

Ethical management practices can drive innovation and sustainability. Businesses that
prioritize ethics often adopt environmentally responsible practices and engage in
socially beneficial initiatives, aligning with evolving consumer preferences and
societal expectations. This not only supports the well-being of the planet and
communities but also positions the organization for long-term success in a changing
business landscape.

Furthermore, ethical management fosters accountability and transparency. When

leaders uphold ethical principles, they create an environment where decisions are
made openly, and outcomes are traced back to their ethical foundations. This
accountability strengthens the organization's overall governance and effectiveness.

In conclusion, business ethics are a crucial requirement for management because they
underpin a company's reputation, shape its organizational culture, mitigate risks,
enhance stakeholder relationships, drive innovation, and promote accountability.
Integrating ethics into management practices leads to a more responsible, sustainable,
and successful business in the long run.

Q2: List and describe the tools used in requirement analysis of software design
and its management.

Requirement analysis is a crucial phase in software design and development, as it

helps ensure that the software being developed aligns with the needs and expectations
of the stakeholders. There are various tools and techniques used in requirement
analysis to gather, document, and manage software requirements. Here are some of
the key tools and their descriptions:

 Interviews: Conducting interviews with stakeholders, users, and subject matter

experts helps gather detailed information about their needs, expectations, and
pain points. This helps in understanding the requirements from different
perspectives.

 Surveys and Questionnaires: These tools are used to gather input from a large
number of stakeholders. Surveys and questionnaires can provide quantitative data
and insights that contribute to understanding requirements.

 Workshops: Workshops involve bringing together various stakeholders in a

collaborative setting. Techniques like brainstorming, group discussions, and role-
playing can help elicit requirements and resolve conflicts.

 Use Case Diagrams: Use case diagrams visualize how users interact with the
software system. They depict user roles, actions, and system responses, helping to
identify functional requirements and understand system behavior.

 User Stories: User stories are short, informal descriptions of features from the
user's perspective. They capture who the user is, what they want, and why they
need it. User stories are commonly used in agile methodologies.

 Requirements Documentation: This includes various documents such as a

Requirements Specification Document, which outlines detailed functional and
non-functional requirements. Traceability matrices link requirements to their
sources and ensure complete coverage.

 Prototyping: Creating prototypes or mock-ups of the user interface or specific

system components can help stakeholders visualize the end product and provide
feedback early in the process.
 Data Flow Diagrams (DFD): DFDs depict the flow of data within a system. They
help in understanding how data is processed, transformed, and stored, aiding in
the identification of data-related requirements.

 Entity-Relationship Diagrams (ERD): ERDs model the relationships between

data entities in a system. They are useful for capturing data requirements and
illustrating how different data elements relate to each other.

 Process Models (e.g., BPMN): Process models depict workflows, interactions,

and business processes. They help in understanding how the software will be used
and how different components interact.

 Requirements Management Tools: Tools like JIRA, Trello, or IBM Engineering

Requirements Management DOORS help capture, track, and manage
requirements throughout the development lifecycle.

 Version Control Systems: Version control tools like Git help manage changes to
requirements documents, ensuring proper tracking and collaboration.

 Collaboration Tools: Tools like Confluence or SharePoint facilitate collaboration

among team members and stakeholders by providing a central platform for
document sharing and discussion.

 Mind Mapping Tools: Mind mapping tools like MindMeister or XMind can help
visually organize and structure requirements, making it easier to identify
relationships and dependencies.

These tools and techniques are often used in combination, depending on the project's
needs, team preferences, and the specific context of requirement analysis. The goal is
to ensure a comprehensive understanding of requirements, mitigate risks, and set a
solid foundation for successful software design and development.

Q3: What are Office Automation Systems? How do they help in improving the
productivity of any organization? Name three common office automation
products and list out their functions.

Office automation is a general term that describes the different types of computer
systems and software that are used to collect digitally, store, transfer, alter and utilise
office information to execute tasks. In essence, office automation helps to manage
data.

Office automation allows data to move without human intervention. Since humans are
left out of the equation, there is no risk of manual error. What once began with a
typewriter has evolved into a myriad of automation and electronic tools that have
changed how people work.

There are a lot of different aspects of office automation, but they can be easily divided
into the following categories:
 Information storage: This includes the recording of information, like forms,
documents, files, images and spreadsheets. Information storage generally exists in
formats of word processors or spreadsheets, but it can also be more sophisticated
like records in a CMS or automation software tool like SolveXia.
 Data exchange: Systems allow for the real-time exchange of information, such as
fax machines or emails. Automation software tools also fit into this category as
you can easily share information and send reports between people.
 Data management: Office automation must also be easily manageable between
different parties and relevant information. As such, office automation systems can
handle short-term and long-term data, including financial plans, marketing
expenditures, inventory management, etc.

Office Automation: The Benefits

Businesses rely on a little or a lot of office automation tools. Regardless of the extent,
the benefits are expansive, namely:

 Reduction of manual effort to achieve tasks

 Minimisation of human and manual errors
 Decreased processing time for task completion
 Enhanced transparency and process improvement abilities
 Better decision-making based on data and forecasts
 Enhanced metrics and KPI monitoring
 Increased employee satisfaction and communication
 Results in better customer service

Types of Office Automation Tools

Office automation spans all aspects of a business’ operations virtually. There are tools
to support:

Facility Management:
Gain the ability to grant or deny access to your facilities remotely.
Access management
Visitor management
Service
Membership
Room scheduling

Staffing:
Use automation to onboard employees and approve contracts.
Contracts
Hiring
Rostering
Onboarding

Productivity:
Store, share and collaborate regarding notes and essential information.
Notes
Office supplies
Events catering
Q4: Explain the term "Discounted Cash Flow" (DCF). Discuss the relation
between Discounted Present Value and Future Value.

Discounted cash flow (DCF) refers to a valuation method that estimates the value of
an investment using its expected future cash flows.
DCF analysis attempts to determine the value of an investment today, based on
projections of how much money that investment will generate in the future.
It can help those considering whether to acquire a company or buy securities make
their decisions. Discounted cash flow analysis can also assist business owners and
managers in making capital budgeting or operating expenditures decisions.

KEY POINTS
 Discounted cash flow analysis helps to determine the value of an investment
based on its future cash flows.
 The present value of expected future cash flows is arrived at by using a projected
discount rate.
 If the DCF is higher than the current cost of the investment, the opportunity could
result in positive returns and may be worthwhile.
 Companies typically use the weighted average cost of capital (WACC) for the
discount rate because it accounts for the rate of return expected by shareholders.
 A disadvantage of DCF is its reliance on estimations of future cash flows, which
could prove inaccurate.

The relationship between discounted present value (DPV) and future value (FV) is a
fundamental concept in finance and investment analysis. These two concepts are
closely connected and are used to evaluate the time value of money and the potential
profitability of investments over time.

 Discounted Present Value (DPV): DPV is a financial concept that calculates the
current value of a future sum of money, taking into account the time value of
money. It represents the amount of money today that is equivalent in value to a
future sum, after adjusting for factors like interest rates, inflation, and the
potential earning capacity of that money if invested elsewhere.

 Future Value (FV): FV, on the other hand, is the value of an investment or cash
flow at a specified point in the future, considering compounding interest or
growth. It represents the amount that an investment will grow to over time based
on a specific interest rate or rate of return.

The relationship between DPV and FV is described through the process of

discounting and compounding:

 Discounting: When calculating DPV, future cash flows are reduced to their
present value by applying a discount rate. This rate accounts for the time value of
money and is typically the minimum required rate of return or the cost of capital
for a particular investment. Discounting is used to determine how much a future
sum is worth in today's terms.
 Compounding: When calculating FV, present cash flows are grown or increased
to their future value by applying a compounding factor. This factor is often the
interest rate at which the investment is expected to grow over time. Compounding
takes into account the potential growth of money invested today.

The relationship between DPV and FV can be summarized as follows:

 DPV to FV: When looking from the perspective of the present, DPV represents
the initial investment or cash flow that will grow to the FV over time. It considers
the impact of discounting to reflect the actual worth of the future sum in today's
terms.

 FV to DPV: When looking from the perspective of the future, FV represents the
amount that an investment will grow to over time. To determine its equivalent
value today (DPV), the future value needs to be discounted back to the present
using an appropriate discount rate.

In essence, the relationship between discounted present value and future value helps
individuals and businesses make informed financial decisions by considering the time
value of money, interest rates, and the potential growth or loss of investments over
time.

Q5: Briefly describe any five types of information systems by explaining their
respective features like information inputs, processing, information output and
users.

1. Transaction Processing Systems (TPS):

 Information Inputs: Raw data from daily operations, transactions, and events.
 Processing: Captures, processes, and stores data related to routine business
transactions.
 Information Output: Standardized reports, summaries, and updates for operational
management.
 Users: Operational personnel, clerks, managers, and employees who handle
routine transactions.

2. Management Information Systems (MIS):

 Information Inputs: Aggregated data from TPS, internal and external sources.
 Processing: Organizes and summarizes data to produce regular management
reports and predefined queries.
 Information Output: Routine summary reports, exception reports, and ad hoc
queries for middle managers.
 Users: Middle-level managers for planning, control, and decision-making.
3. Decision Support Systems (DSS):

 Information Inputs: Data from internal and external sources, possibly including
models and simulations.
 Processing: Analyzes data, models scenarios, and provides interactive tools for
decision-making.
 Information Output: Analytical reports, what-if scenarios, and data visualization
tools.
 Users: Managers at various levels who need support for non-routine, semi-
structured decisions.

4. Executive Information Systems (EIS):

 Information Inputs: High-level aggregated data from various sources, including

internal and external.
 Processing: Presents critical information through user-customizable dashboards
and graphical displays.
 Information Output: Summary reports, exception reports, and graphical displays
for strategic decision-making.
 Users: Top-level executives and senior management for strategic planning and
monitoring.

5. Expert Systems (ES):

 Information Inputs: Domain-specific knowledge and data from experts.

 Processing: Utilizes rules and knowledge bases to simulate expert decision-
making and problem-solving.
 Information Output: Recommendations, explanations, and solutions based on
expert reasoning.
 Users: Specialists, professionals, and novices seeking expert advice or problem-
solving in specific domains.
 Each type of information system serves a unique purpose and caters to specific
user needs within an organization. By processing and presenting information
effectively, these systems contribute to better decision-making, improved
operational efficiency, and enhanced overall organizational performance.

Q6: What is Requirement Analysis ? Name the tools and methods used to
perform Requirement Analysis.

Requirement analysis is the systematic process of identifying, documenting, and

prioritizing the needs, functionalities, and constraints of a software system to ensure it
aligns with stakeholders' expectations and goals.

Tools:

 Requirements Management Software: Tools like JIRA, Trello, IBM Engineering

Requirements Management DOORS, and Microsoft Azure DevOps provide
platforms for capturing, tracking, and managing requirements.
 Diagramming Tools: Tools like Microsoft Visio, Lucidchart, and draw.io help
create visual representations such as flowcharts, use case diagrams, and data flow
diagrams.

 Prototyping Tools: Software like Sketch, Adobe XD, and InVision facilitate
creating interactive prototypes to visualize and refine user interfaces.

 Collaboration and Documentation Tools: Platforms like Confluence, SharePoint,

and Google Docs enable team collaboration and document sharing for
requirements documentation.

 Mind Mapping Software: Tools such as MindMeister and XMind help organize
and visualize complex requirements hierarchies.

 Version Control Systems: Git, Subversion, and Mercurial help manage changes to
requirement documents, ensuring version history and collaboration.

 Spreadsheet Software: Tools like Microsoft Excel or Google Sheets can be used
to organize, categorize, and prioritize requirements.

Methods:

 Interviews: One-on-one discussions with stakeholders to gather detailed

information about their needs, expectations, and concerns.

 Surveys and Questionnaires: Collect input from a larger audience to gather

quantitative data and opinions on requirements.

 Workshops and Brainstorming: Collaborative sessions involving stakeholders to

generate ideas, identify requirements, and resolve conflicts.

 Use Case Analysis: Creating use case diagrams and narratives to describe user
interactions and system responses.

 User Stories: Writing short, user-focused descriptions of features to capture

requirements in agile development.

 Prototyping: Developing mock-ups or interactive prototypes to visualize and

refine user interfaces and interactions.

 Data Modeling: Creating Entity-Relationship Diagrams (ERDs) to represent

relationships between data entities.

 Process Modeling: Utilizing process modeling notations like BPMN (Business

Process Model and Notation) to illustrate workflows and interactions.

 Scenario Analysis: Creating scenarios or use cases to explore various paths and
situations to understand requirement variations.
 Persona Development: Defining user personas with specific needs and behaviors
to guide requirement prioritization.

 Storyboards: Sequential visual representations of user interactions and

experiences, aiding in understanding requirements.

 Document Analysis: Reviewing existing documentation, such as business rules

and regulations, to extract requirements.

 Observation: Directly observing users in their environment to understand their

needs and workflows.

 Benchmarking: Comparing the software to similar existing solutions to identify

potential requirements and improvements.

 Risk Analysis: Identifying potential risks and mitigating requirements to ensure

robustness and reliability.

Q7: Write short notes on any two of the following:

(i) Podcasting (ii) Risk Management (iii) NPV-Net Present Value (iv) Horizontal
organizations (v) Vertical Organizations

(i) Risk management

In project management, risk management is the practice of identifying, evaluating,
and preventing or mitigating risks to a project that have the potential to impact the
desired outcomes. Risk management should be part of the planning process to figure
out risk that might happen in the project and how to control that risk if it in fact occurs.

A risk is anything that could potentially impact your project’s timeline, performance
or budget. Risks are potentialities, and in a project management context, if they
become reality, they then become classified as “issues” that must be addressed. So
risk management, then, is the process of identifying, categorizing, prioritizing and
planning for risks before they become issues.

You may also rephrase as "risk = failure probability x damage related to the failure".

RISK Management Framework:

· Identify
· Analyze
· Prioritize
· Ownership
· Respond
· Monitor
Identify the Risk:
You can’t resolve a risk if you don’t know what it is. There are many ways to identify
risk.The popular 7 Ways to Identify Project Risks

· Interviews.
· Brainstorming
· Checklists
· Assumption Analysis
· Cause and Effect Diagrams
· Nominal Group Technique (NGT)
· Affinity Diagram

For agile projects, here are some additional times for identifying risks:

· Sprint planning
· Release planning
· Daily standup meetings
· Prior to each sprint

Analyze the Risk:

Analyzing risk is hard. There is never enough information you can gather. Those rules
you apply are how the risk influences your activity resources, duration and cost
estimates. Another aspect of your project to think about is how the risk is going to
impact your schedule and budget. Then there is the project quality and procurements.
These points must be considered to understand the full effect of risk on your project.

Prioritize the Risk:

Having a large list of risks can be daunting. But you can manage this by simply
categorizing risks as high, medium or low. Not all risks are created equally. You need
to evaluate the risk to know what resources you’re going to assemble towards
resolving it when and if it occurs.

Assign an Owner to the Risk:

All your hard work identifying and evaluating risk is for naught if you don’t assign
someone to oversee the risk. In fact, this is something that you should do when listing
the risks. Who is the person who is responsible for that risk.

Respond to the Risk:

For each major risk identified, you create a plan to mitigate it. You develop a strategy,
some preventative or contingency plan. You then act on the risk by how you
prioritized it. You have communications with the risk owner and, together, decide on
which of the plans you created to implement to resolve the risk.

Monitor the Risk:

Risks need to be monitored so that management can act promptly if and when the
nature, potential impact, or likelihood of the risk goes outside acceptable levels.
Whoever owns the risk will be responsible for tracking its progress towards resolution.
But, as a project manager, you will need to stay updated to have an accurate picture of
the project’s overall progress to identify and monitor new risks.
(ii) NPV-Net Present Value

What Is NPV?
Net present value is used to determine whether or not an investment, project, or
business will be profitable down the line. Essentially, the NPV of an investment is the
sum of all future cash flows over the investment’s lifetime, discounted to the present
value.
Calculating net present value is often used in budgeting to help companies decide how
and where to allocate capital. By bringing each investment option or potential project
down to the same level — how much it will be worth in the end — finance
professionals are better equipped to make strategic decisions.
To calculate NPV, you have to start with a discounted cash flow (DCF) valuation.
NPV is the end result of a DCF valuation. You can learn how to calculate DCFs with
JPMorgan Chase’s Investment Banking Virtual Experience Program.

NPV Formula:
Calculating net present value involves calculating the cash flows for each period of
the investment or project, discounting them to present value, and subtracting the
initial investment from the sum of the project’s discounted cash flows.

The formula for NPV is:

In this formula:

 Cash Flow is the sum of money spent and money earned on the investment or
project for a given period of time.
 n is the number of periods of time.
 r is the discount rate.
Components of NPV:

Cash Flow
Cash flows are any money spent or earned for the sake of the investment, including
things like capital expenditures, interest, and loan payments. Each period’s cash flow
includes both outflows for expenses and inflows for profits, revenue, or dividends.

Number of Periods (n)

The number of periods equals how many months or years the project or investment
will last. Sometimes, the number of periods will default to 10, or 10 years, since that
is the average lifespan of a business. However, different projects, companies, and
investments may have more explicit time-frames.

Discount Rate (r)

In most situations, the discount rate is the company’s weighted average cost of capital
(WACC). A company’s WACC is how much money it needs to make to justify the
cost of operating and includes things like the company’s interest rate, loan payments,
and dividend payments. Cash flows need to be discounted because of a concept called
the time value of money. This concept is the belief that money today is worth more
than money received at a later date.

Initial Investment:
The initial investment is how much the project or investment costs upfront.

Interpreting Net Present Value:

Net present value has three potential outcomes:

 Positive NPV: A positive result from an NPV calculation means the project or
investment may be profitable and worth pursuing.
 Negative NPV: A negative result from an NPV calculation means the project or
investment is unlikely to be profitable and should probably not be pursued.
 Zero NPV: An NPV of zero means the project or investment is neither profitable
nor costly. A company may still consider projects and investments with an NPV
of zero if the project has significant intangible benefits, such as strategic
positioning, brand equity, or increased consumer satisfaction.

Q8: What do you mean by OLAP? How does OLAP contribute to Business
Intelligence?

OLAP
OLAP (for online analytical processing) is software for performing multidimensional
analysis at high speeds on large volumes of data from a data warehouse, data mart, or
some other unified, centralized data store.
Most business data have multiple dimensions—multiple categories into which the
data are broken down for presentation, tracking, or analysis. For example, sales
figures might have several dimensions related to location (region, country,
state/province, store), time (year, month, week, day), product (clothing,
men/women/children, brand, type), and more.
But in a data warehouse, data sets are stored in tables, each of which can organize
data into just two of these dimensions at a time. OLAP extracts data from multiple
relational data sets and reorganizes it into a multidimensional format that enables very
fast processing and very insightful analysis.
OLAP plays a crucial role in enhancing BI capabilities and enabling organizations to
derive meaningful insights from their data. Here's how OLAP contributes to Business
Intelligence:

 Advanced Data Analysis: OLAP allows users to perform complex and

multidimensional analysis of business data. It enables users to slice, dice, pivot,
drill down, and roll up data across various dimensions, providing a
comprehensive view of business operations. This flexibility empowers users to
explore data from different angles, uncover trends, and identify patterns that may
not be apparent in traditional flat data structures.

 Interactive Reporting: OLAP provides interactive and dynamic reporting

capabilities. Users can create ad-hoc queries and reports on the fly, without
relying on predefined static reports. This real-time interactivity enables users to
respond quickly to changing business needs and explore data in a self-service
manner.
 Data Visualization: OLAP tools often integrate with data visualization and dash-
boarding solutions, enhancing the presentation of insights. Visualizations such as
charts, graphs, heatmaps, and geographic maps help users understand data
intuitively and make informed decisions.

 Faster Query Performance: OLAP databases are optimized for read-intensive

operations, enabling fast query performance even on large datasets. Aggregated
and precomputed data stored in OLAP cubes accelerates query response times,
ensuring that users can analyze data efficiently.

 Business Performance Analysis: OLAP facilitates in-depth performance analysis

by allowing users to measure key performance indicators (KPIs) across multiple
dimensions. This helps organizations monitor progress towards business goals,
assess the effectiveness of strategies, and make adjustments as needed.

 Predictive Analysis: OLAP's ability to analyze historical data from different

perspectives can aid in predictive analysis. By identifying trends and patterns,
organizations can make informed forecasts and predictions about future business
outcomes.

 Data Integration and Centralization: OLAP systems often integrate data from
various sources and departments into a single unified view. This centralization
eliminates data silos, ensures data consistency, and provides a holistic view of the
organization's operations.

 Decision Support and Strategic Planning: OLAP tools provide decision-makers

with actionable insights to support strategic planning and decision-making. By
exploring different scenarios and examining data from various dimensions,
organizations can evaluate the potential outcomes of different strategies.

 Customer Insights: OLAP contributes to understanding customer behavior and

preferences. It enables segmentation, profiling, and analysis of customer data,
helping organizations tailor marketing campaigns and improve customer
experiences.

 Operational Efficiency: OLAP helps identify operational inefficiencies and

bottlenecks by analyzing data across processes and dimensions. This insight
enables organizations to streamline processes and optimize resource allocation.

In essence, OLAP is a cornerstone of modern Business Intelligence, enabling

organizations to transform raw data into actionable insights. Its multidimensional
analysis capabilities, interactive reporting, and data visualization empower users to
explore data comprehensively, make informed decisions, and gain a competitive edge
in today's data-driven business landscape.
Q9: Briefly discuss CRM and ERP. "Can CRM be ERP?" Comment on this
statement.

Every tech business or industry requires a system to expedite the current of

information and management of the overall process into its hood with employees and
its customers. The view was to design a software solution which supports the
customer support with the organization offerings. Let us see what do we got to discuss
ahead.

1. Enterprise Resource Planning (ERP) :

ERP stands for Enterprise Resource Planning, which is a software designed to ease an
organization’s day to day functions from logistics to managerial. It helps in
maintaining a balance with the key functions of business that include human resources,
order management, accounting, and more. This software acts as a centralized system
to streamline all the processes and information flow within an entire organization.

Following are some key features of ERP :

 This software is used to integrate all the services which are needed to run the
company.
 These applications are web-based and can be accessed through every interface.
 ERP software is responsible to monitor the growth of the organization.
 These applications are used to manage the resources into an organization.

2. Customer Relationship Management (CRM) :

CRM stands for Customer Relationship Management, which is a software that helps
the organization to get in touch with the customer and future potential customers. This
CRM software manages the customer service, automates and synchronize the sales.
The motive of developing such an application are to nourish and entertain the
prospect leads, which helps the business to increase in its sales and overall
performance.

Following are some key features of CRM :

 This software is used to integrate all the customer services at one place.
 This is used to manage and track the functions of the organization.
 It helps in increasing the performance of sales.
 primarily focused on the customers.

Differences between ERP and CRM:

S. No. ERP CRM

1 ERP is the software solution that
helps organizations to manage their
business processes.
2 It is a centralized system that
streamlines all the processes.
3 ERP is termed as the super set of
SAP.
4 ERP is a web-based application.
CRM is the software that automates the
customer communication with the
organization.
CRM is the single platform for turning
customers into a potential clients.
It is the subset of SAP
CRM is a web based solution.
5 ERP systems are more focused on CRM systems are focused on customer
organization growth and cost relations with the organization.
reduction.
6 They support the back office They support the front office activities.
activities.

While CRM and ERP have distinct focuses, there is a significant overlap in the data
they handle. For example, customer data captured in a CRM system can be valuable
for various functions within an ERP system, such as order processing, sales
forecasting, and demand planning. Likewise, data from ERP systems can enhance
CRM activities by providing a holistic view of customer interactions, purchases, and
order history.

Some ERP systems offer built-in CRM modules or integration with external CRM
software, allowing organizations to consolidate customer-related information and
provide a more comprehensive view of customer interactions. This integration ensures
that data flows seamlessly between customer-facing activities and backend operations,
leading to improved decision-making and customer service.

In conclusion, while CRM and ERP are distinct systems with specific purposes, they
are interconnected in the sense that CRM can be seen as a subset of ERP, focusing on
managing customer relationships within the broader context of enterprise-wide
operations. Integrating CRM and ERP systems can enhance overall business
efficiency and effectiveness by leveraging customer insights to optimize various
aspects of the organization's functions.

Q10: What do you mean by the term Intellectual Property? What is the
relevance of this concept in the corporate world and how do we protect it?

Definitions of "Intellectual Property":

"Intellectual property" encompasses the intangible creations of the human mind,
whether artistic, innovative, or commercial in nature. This umbrella term
encompasses inventions, literary and artistic works, designs, symbols, names, and
images that hold value and are used in commerce. Protected by legal frameworks such
as patents, copyrights, trademarks, and trade secrets, intellectual property grants
creators and owners exclusive rights to their innovations and creations. The purpose
of intellectual property protection is to incentivize and reward innovation, foster
creativity, and provide a legal framework that allows individuals and businesses to
capitalize on their intangible assets.

Relevance of "Intellectual Property" in the Corporate World:

In the dynamic landscape of the corporate world, intellectual property plays a pivotal
role that extends far beyond legal frameworks. Its significance can be understood
through several key aspects:

 Innovation Catalyst: Intellectual property protection encourages companies to

invest in research, development, and creative endeavors by ensuring that their
efforts will be safeguarded from unauthorized use. This protection acts as a
catalyst for innovation, driving organizations to continuously explore new ideas
and solutions.
 Competitive Advantage: Intellectual property provides a distinctive competitive
edge by granting companies exclusive rights to their innovations, products, or
brands. This exclusivity enables companies to differentiate themselves, secure
market share, and establish a unique market position.

 Monetization and Growth: Intellectual property allows companies to monetize

their innovations through licensing, franchising, or sales. This diversification of
revenue sources contributes to financial stability and supports growth initiatives.

 Investment Attraction: Strong intellectual property assets make companies more

appealing to investors, venture capitalists, and lenders. These assets serve as
collateral for loans and provide assurance that the company's innovations are
protected.

 Brand Building: Trademarks and copyrights contribute to building strong brand

identities and reputations. Recognizable brands create customer trust and loyalty,
driving increased sales and market presence.

 Global Expansion: Intellectual property protection facilitates international

expansion by ensuring that innovations are safeguarded in various jurisdictions.
This enables companies to explore new markets and seize global opportunities.

 Employee Engagement: Robust intellectual property protection fosters a culture

of innovation and creativity within a company. Employees are more likely to
contribute ideas and inventions when they know their work is valued and
protected.

 Strategic Defense: Intellectual property can serve as a defensive strategy against

legal challenges and infringement disputes, allowing companies to protect their
assets and maintain their market standing.

How to Protect "Intellectual Property":

 Ensuring the protection of intellectual property requires a deliberate and

comprehensive approach:

 Understanding Types: Familiarize yourself with different types of intellectual

property, including patents, copyrights, trademarks, and trade secrets, and their
respective scopes of protection.

 Documentation: Maintain thorough records of creation and development,

establishing ownership and timelines.

 Legal Processes: Follow proper legal procedures, such as patent applications and
copyright registrations, to secure formal protection.

 Contracts and Agreements: Utilize contracts, such as non-disclosure agreements

(NDAs), to safeguard confidential information during collaborations.
 Licensing and Monetization: Leverage licensing agreements to generate revenue
and strategically manage intellectual property assets.

 Online and Global Protection: Use digital rights management (DRM) for digital
content and consider international protection for global expansion.

 Enforcement and Litigation: Be prepared to take legal action against infringement

and consult legal experts when needed.

 Ongoing Vigilance: Continuously monitor and update your intellectual property

strategy to adapt to changing business landscapes.

In sum, intellectual property is a cornerstone of modern business strategy, driving

innovation, differentiation, growth, and long-term success. By understanding,
applying, and safeguarding intellectual property, companies can navigate the
complexities of the corporate world with confidence and creativity.

Q11: Describe the term Decision Support System (DSS). What are the various
levels of classification of DSS? How do the classified levels differ from one
another?

What is a decision support system (DSS)?

A decision support system (DSS) is a computer program application used to improve
a company's decision-making capabilities. It analyzes large amounts of data and
presents an organization with the best possible options available.

Decision support systems bring together data and knowledge from different areas and
sources to provide users with information beyond the usual reports and summaries.
This is intended to help people make informed decisions.

Typical information a decision support application might gather and present includes
the following:

 comparative sales figures between one week and the next;

 projected revenue figures based on new product sales assumptions; and
 the consequences of different decisions.
A decision support system is an informational application as opposed to an
operational application. Informational applications provide users with relevant
information based on a variety of data sources to support better-informed decision-
making. Operational applications, by contrast, record the details of business
transactions, including the data required for the decision-support needs of a business.

Q12: Define Portfolio Management. What are the methods used to carry it out?
Explain how it can be implemented.

Portfolio management is a vital aspect of financial decision-making that involves the

strategic selection, monitoring, and optimization of a collection of investments or
projects to achieve specific objectives. It encompasses a range of methods and
practices aimed at maximizing returns while managing risks in line with an
individual's or organization's goals and risk tolerance.
Definition of Portfolio Management:
Portfolio management refers to the systematic process of making informed choices
about a diversified mix of investments or projects. Grounded in principles such as
diversification, risk assessment, and goal alignment, portfolio management aims to
create a balanced investment portfolio that generates returns while minimizing risk.
By carefully selecting, monitoring, and adjusting investments, portfolio management
seeks to achieve financial objectives and enhance long-term sustainability.

Methods to Carry Out Portfolio Management:

 There are various methods and strategies employed in portfolio management to

optimize investment decisions and risk management:

 Modern Portfolio Theory (MPT): MPT emphasizes diversification to balance risk

and return by constructing portfolios with a mix of correlated and uncorrelated
assets.

 Asset Allocation: This method strategically distributes funds across different

asset classes based on risk tolerance and financial objectives.

 Active vs. Passive Management: Active management involves making frequent

adjustments to a portfolio to outperform the market, while passive management
aims to mimic market index performance.

 Value and Growth Investing: Value investing focuses on undervalued assets with
growth potential, whereas growth investing targets assets poised for above-
average growth.

 Risk-Return Trade-off: Portfolio managers assess the relationship between risk

and potential return for each investment, aiming to strike an optimal balance.

 Market Timing: Attempting to predict market movements to capitalize on

favorable conditions, although considered risky due to market unpredictability.

 Diversification: Creating a well-rounded portfolio with a variety of assets to

reduce the impact of poor performance in any one investment.

 Portfolio Rebalancing: Regularly adjusting the portfolio to maintain the desired

asset allocation and risk profile.

Implementation of Portfolio Management:

 Implementing portfolio management involves a structured approach to

investment oversight:

 Define Objectives and Constraints: Clearly outline the goals, risk tolerance, and
investment horizon to guide decision-making.
 Risk Assessment and Asset Allocation: Evaluate risk tolerance and create an asset
allocation strategy that aligns with objectives.

 Investment Selection: Research and select investments based on factors like

performance, growth potential, and alignment with goals.

 Diversification: Build a diversified portfolio by selecting a variety of investments

with low correlations.

 Monitoring and Rebalancing: Regularly monitor portfolio performance and adjust

holdings as needed to maintain the desired asset allocation.

 Performance Evaluation: Periodically assess portfolio performance against

objectives and risk metrics.

 Adjustments and Optimization: Make adjustments based on changes in financial

situations, market conditions, and investment outlook.

 Staying Informed: Stay informed about market developments and regulatory

changes.

 Professional Guidance: Consider seeking advice from financial advisors or

portfolio managers.

 Review and Continuous Improvement: Regularly review and refine the portfolio
management process.

In conclusion, portfolio management is a dynamic process that combines strategic

decision-making, risk assessment, and ongoing monitoring to optimize investment
outcomes. By utilizing various methods and strategies, individuals and organizations
can implement effective portfolio management practices to achieve financial goals
and navigate the complexities of the investment landscape.

Q13: Explain the term "Business Analytics as change manager". Name any three
available business analytics.

Business Analytics as a Catalyst for Organizational Change

Explanation of the Term "Business Analytics as a Change Manager":

"Business Analytics as a Change Manager" refers to the strategic role that business
analytics plays in driving and facilitating transformative change within an
organization. Business analytics involves the systematic analysis of data using
statistical methods, quantitative analysis, and predictive modeling to extract insights
and guide decision-making. In the context of change management, business analytics
has become a powerful tool that enables data-driven decision-making, supports
evidence-based planning, and guides the successful implementation of organizational
changes.

As a change manager, business analytics serves multiple functions. It identifies areas

that need improvement, provides data-driven evidence for decision-makers, and
contributes to the development of effective change strategies. Analytics also measures
the progress and success of change initiatives through key performance indicators
(KPIs) and offers insights for refining strategies based on real-time data. Furthermore,
business analytics aids in anticipating potential challenges, mitigating risks, and
fostering stakeholder engagement and communication.

The integration of business analytics as a change manager not only enhances the
precision and effectiveness of change initiatives but also empowers organizations to
adapt to evolving market dynamics, technological advancements, and customer
preferences. By leveraging data-driven insights, organizations can navigate the
complexities of change with greater confidence and agility, ultimately driving
sustainable growth and innovation.

Description of Three Available Business Analytics:

Descriptive Analytics: Descriptive analytics involves the examination of historical
data to understand past events and patterns. This form of analysis provides a
retrospective view of business operations and performance. Through summarization,
aggregation, and visualization techniques, descriptive analytics helps organizations
comprehend the "what" and "how" of their past activities. It lays the foundation for
informed decision-making by presenting data in a comprehensible format, such as
reports, dashboards, and graphs.

Predictive Analytics: Predictive analytics leverages historical data and statistical

algorithms to forecast future outcomes and trends. By identifying patterns,
correlations, and anomalies in data, predictive analytics enables organizations to make
anticipatory projections. This type of analytics assists in anticipating customer
behavior, demand fluctuations, and potential risks. By providing insights into possible
future scenarios, predictive analytics empowers businesses to plan and strategize
proactively.

Prescriptive Analytics: Prescriptive analytics takes analytics a step further by not only
predicting future outcomes but also recommending optimal actions to achieve desired
objectives. By considering multiple variables, constraints, and potential outcomes,
prescriptive analytics guides decision-making by suggesting the best course of action.
This form of analytics is particularly valuable in complex decision environments
where organizations seek to optimize processes, resource allocation, and performance.

Incorporating these three types of business analytics into an organization's operations

allows for a comprehensive approach to data utilization. From understanding
historical trends and anticipating future developments to prescribing strategic actions,
business analytics equips organizations with the tools needed to drive informed
decision-making, foster innovation, and navigate the dynamic landscape of modern
business.

Q14: What is meant by "Total Cost of Ownership (TCO)" of an information

system ? Describe its various components.

Total cost of ownership (TCO) a comprehensive assessment of information

technology (IT) or other costs across enterprise boundaries over time. For IT, TCO
includes hardware and software acquisition, management and support,
communications, end-user expenses and the opportunity cost of downtime, training
and other productivity losses.

What is the definition of TCO?

TCO (Total Cost of Ownership) aims to analyse the actual cost of purchasing a
product or service from a given supplier, beyond the basic purchase price.

TCO can be defined as “the total cost of acquiring, using, managing and withdrawing
an asset over its entire life cycle”.

In this sense, TCO brings together all of the costs associated with a particular product
or service throughout its life cycle, not only considering direct costs, but also indirect
costs, also known as “hidden” costs.

To determine the TCO of a product or service, you need to know how to calculate it.

How do you calculate TCO?

TCO can be calculated in several ways depending on the type of product or service
concerned (software solutions, car fleets, etc.).

“There is no absolute solution for determining TCO in all procurement departments.

For truly relevant solutions, it is much better to consider the specifics of each line of
business.
What are the components of TCO? The Total Cost of Ownership is generally
calculated as the sum of these 8 types of costs:

Purchase price: cost price and supplier margin;

 Cost incurred: transport, packaging, customs duties, payment terms;
 Cost of acquisition: procurement department operations;
 Cost of ownership: stock management, depreciation cost;
 Cost of maintenance: spare parts, servicing;
 Cost of usage: use value, operation, services;
 Cost of poor quality: deadline compliance, non-compliance processes;
 Cost of disposal: recycling, resale, destruction.
Take the example of the ownership of one or more company cars. The TCO
calculation takes into account the various elements listed above. The cost incurred
includes transport costs and customs duties, for instance.

The use and ownership of this type of vehicle is subject to taxes, which are also
included in the TCO calculation. These may vary from country to country. The TCO
also takes into account registration costs, as well as potential environmental bonuses
or penalties.

This means that a careful calculation must be made between the costs incurred and the
benefits reaped from owning company cars.
Q15: What is Business Intelligence? Discuss the role of Business Intelligence
report in an information system.

Business intelligence (BI) is software that ingests business data and presents it in
user-friendly views such as reports, dashboards, charts and graphs. BI tools enable
business users to access different types of data — historical and current, third-party
and in-house, as well as semi-structured data and unstructured data like social media.
Users can analyze this information to gain insights into how the business is
performing.
According to CIO magazine: “Although business intelligence does not tell business
users what to do or what will happen if they take a certain course, neither is BI only
about generating reports. Rather, BI offers a way for people to examine data to
understand trends and derive insights.”
Organizations can use the insights gained from business intelligence and data analysis
to improve business decisions, identify problems or issues, spot market trends, and
find new revenue or business opportunities.

BI platforms by design are a one-stop-shop for data. Is your team continually

responding to reporting requests? Does your organization juggle multiple technology
solutions for data analysis and data storage? If your answer is yes, here’s how modern
BI solutions can help:

Integrate with your existing data architecture

Modern BI platforms are designed to support current IT infrastructure and data
storage. If your organization has already invested in a data warehouse and data marts,
the best BI solution for you will integrate with that system without middle-tier
platforms.

Security
BI platforms take data security seriously. Only the users who need data will be able to
access it. IT should be able to set up data permissions easily, and dashboards and
reporting functions should only pull in data that the user has permissions to see.

Data Storage
BI can access multiple data sources from within a data warehouse, including
databases with financial data, operational data, and CRM data seamlessly. With
traditional data storage solutions, accessing data from multiple sources can be slow
and difficult. The University of Notre Dame recognized their data lived in silos by
department; modern BI enabled them to access the data and create reports quickly.

Scalability
Enterprise BI platforms like Tableau are designed to scale from one-person users to
entire corporations. We have examples of organizations scaling up their BI initiatives
to thousands of users. You should have the ability to use your BI platform with your
current operating system, have mobile capabilities, and have both remote and on-
premises access.
Q16: Compare and contrast the following:
(i) Expert systems and Fuzzy expert systems
Aspect Expert Systems
Definition Computer-based systems that
mimic the logical processes of
human experts or organizations to
provide advice in a specific
domain of knowledge.
Handling Typically handle uncertainty
Uncertainty through rules and knowledge
representation, but may not
capture degrees of uncertainty
effectively.
Rule Relies on crisp, deterministic rules utilizes fuzzy rules that define
Representation for decision-making.
Membership Typically does not employ
Functions membership functions to model
uncertainty.
Precision and May lack the ability to express
Granularity precise gradations of uncertainty.
Domains of Effective for well-defined and
Application deterministic domains where
expert knowledge can be
explicitly captured.
Examples Medical diagnosis,
troubleshooting, financial
analysis.
Advantages Simplicity, efficiency in well-
defined domains, clear rule-based uncertain data, ability to capture
reasoning.
Disadvantages Limited handling of uncertainty,
inability to express degrees of
truth, challenges in representing
complex and uncertain scenarios.
Fuzzy Expert Systems
Expert systems that use fuzzy
logic to handle uncertainties
arising from imprecise,
incomplete, or vague information.
It is specifically designed to
handle uncertainty using fuzzy
logic, which allows for the
representation of degrees of truth
or membership in a more nuanced
manner.
relationships between input
variables and output conclusions,
accommodating degrees of truth
and uncertainty.
Employs membership functions to
represent vague or imprecise data,
allowing for gradual transitions
between different levels of truth.
Offers greater precision and
granularity in modeling
uncertainty, making it suitable for
complex scenarios with varying
levels of confidence.
Particularly useful in domains
where uncertainty, ambiguity, and
imprecision are prevalent, such as
decision-making in complex and
fuzzy environments.
Climate prediction, control
systems, language processing with
vague terms, decision-making in
imprecise contexts.
Improved handling of vague or
and process nuanced information.
Complex implementation due to
fuzzy logic, potential difficulty in
defining accurate membership
functions.
(ii) MOLAP and ROLAP

S.NO ROLAP MOLAP

While MOLAP stands

ROLAP stands for Relational
1. for Multidimensional Online
Online Analytical Processing.
Analytical Processing.

ROLAP is used for large data While it is used for limited data
2.
volumes. volumes.

3. The access of ROLAP is slow. While the access of MOLAP is fast.

In ROLAP, Data is stored in While in MOLAP, Data is stored in

4.
relation tables. multidimensional array.

In ROLAP, Data is fetched from While in MOLAP, Data is fetched from

5.
data-warehouse. MDDBs database.

In ROLAP, Complicated sql While in MOLAP, Sparse matrix is

6.
queries are used. used.

In ROLAP, Static While in MOLAP, Dynamic

7. multidimensional view of data multidimensional view of data is
is created. created.