Digital Technology Pressures and Enterprise Resource Planning Systems for Businesses

The video discusses the pressures businesses face to integrate digital technology, focusing on Enterprise Resource Planning (ERP) systems. ERP systems centralize business operations, improving efficiency and decision-making. An example of a car purchase illustrates ERP's role in streamlining processes. The video also covers ERP's impact on finance, HR, and marketing, and explores different ERP system options and their costs.

What is one of the main pressures businesses face in the modern world?

• Reducing product variety

• Increasing the number of employees

• Integrating digital technology

• Expanding physical store locations

What does ERP stand for?

• Electronic Resource Planning

• Enterprise Resource Planning

• Enterprise Risk Planning

• Electronic Risk Planning

How does an ERP system benefit managers?

• By providing outdated information

• By reducing the need for any data

• By centralizing data for informed decision-making

• By increasing the number of spreadsheets

In the car manufacturing example, what is the first step after a customer decides to buy a car?

• The company places an order in their factories

• The car is delivered to the customer

• The car is shipped to the local market

• The customer provides feedback

What is a key advantage of using an ERP system in logistics?

• Eliminates the need for logistics

• Minimizes the lead time between order and delivery

• Reduces the need for suppliers

• Increases lead time

How can ERP systems assist the finance department?

• By providing up-to-date financial information

• By hiding financial data

• By eliminating the need for budgets

• By increasing financial risks

What is a benefit of ERP systems in marketing?

• They reduce the need for customer data

• They help track buyer habits and sales effectiveness

• They eliminate the need for marketing strategies

• They provide outdated sales figures

What is a potential downside of using a cheaper ERP system like Apprise?

• It offers more support than Microsoft

• It is more expensive than Microsoft

• It is only available for large companies

• It provides less support than Microsoft

What is a significant cost associated with ERP systems?

• Employee training

• Office space expansion

• Initial purchase and ongoing support

• Increased marketing expenses

Why might a business choose to develop its own ERP system?

• To avoid any expenses

• To tailor the system to specific needs

• To eliminate the need for technical expertise

• To reduce the number of employees