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Interesting Concepts and their relation with ICT.

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Interesting Concepts and their relation with ICT.

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Podcasting:

Podcasting is the combination of two words, iPod (digital audio player by Apple) and broadcasting. We can say that podcasting is audio blogging. There are many motivational speakers around the world whose podcasts I have listened and they have helped me in my mental health and my career choice. Some of the examples are Jay Shetty's (On Purpose) Podcast, GaryVee's Podcasts, Junaid Akram's Podcasts and Ted Radio Hour. All of these podcasts have helped me in my life. After learning unit 1, I have came to know that ICT has enabled us to listen to the podcasting. Web-based learning is one of the types of ICT tools that helps us to learn as well as communicate online with our instructors. So ICT plays an important role to provide podcasting to the millions of people all around the world.

Cloud Computing:
Cloud computing is the delivery of computing services such as servers, databases, networking, software and intelligence over the internet. This is one of the most interesting concepts of ICT. The Dropbox, Facebook, Gmail, Amazon and many more, all are the examples of cloud computing.
The future of cloud computing can be seen in the picture given below:
Image citation(APA):
Data Flair Team. (2019, March 23). Future of Cloud Computing [Diagram]. Retrieved from https://d2h0cx97tjks2p.cloudfront.net/blogs/wp-content/uploads/sites/2/2019/02/Future-of-Cloud-Computing-01.jpg

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CRM, its Interesting Elements/Features and their relation with ICT.

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CRM, its Interesting Elements/Features and their relation with ICT.

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Definition:
Customer Relationship Management CRM is a way and an approach that allows organizations to manage business relationships as well as the data and information associated with them.

Some Interesting Elements/Features of CRM:
1: Know your customers: This means understanding your customers and markets both. This is one of the most important key elements of CRM. Because when you understand marketing and your customers, you can easily take steps to convince customers and attract them towards your products.

2: Target & Aim: This means developing the offer to the customer. This is also important when it comes to marketing, because you need to develop such offers that would not only attract the customers to buy, but also convince them to share your offers to the people they know. This thing will expand your market's ability to sell more and more.

3: Sales: Sales automation is the process of streamlining manual and time consuming and saving tasks in the sales process. This will enable sales team to focus more on selling. It includes combining the sales and marketing efforts together to provide reliable and best possible facilities to the customers. It also provides an overall view of the sales and marketing pipeline, which will also be beneficial for the company.

4: Service: This element of CRM is the most important feature for markets/organizations. Good services will help a company to retain customers. Services help the customers to be convinced and comfortable while choosing a company. In 21st century, it is important for companies to have 24/7 customer services in order to attract the customers.

Elements of CRM and Their Relation With ICT:
ICT can help a company to obtain customers' loyalty by providing E-mail services, chat-bot services and much more! One of the most useful features is FAQ (Frequently Asked Questions) that provides a list of often asked questions by customers. FAQ is a great feature that provides the visitors to know the frequent rules/answers of the most asked questions. ICT also helps a CRM system to be promoted through different platforms , and gain as much customers as possible.

Picture source:
https://www.voucherify.io/blog/what-is-a-crm-manager-must-have-skills-and-common-challenges

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Difference between E-business and E-commerce

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Difference between E-business and E-commerce

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One of the most important concepts that I have learned in Unit 1, is the difference between E-business and E-commerce.
E-commerce means buying and selling things electronically i.e, via Internet. For example, when we buy something from a hypermarket and pay via credit card , after paying, we immediately get a transcript info message on our phones. That is an E-commerce. Whereas E-business reviews, analyses and  focuses more on the entire and overall business. We can say that E-commerce is just a part and a subset of E-business. E-business carries out business transactions, on the other hand, E-commerce carries out commercial transactions.
This concept of knowing the difference between E-commerce and E-business will surely help me in my career and future life.

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Some of the Skills that I need to excel in.

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Some of the Skills that I need to excel in.

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1. Improve Time Management:
With the help of mobile applications, I can manage my time in better way. There are many different apps available on Time Management for Students. Time management is one of the most important part in a student's life. I want to eliminate procrastination from my life and spend my valuable time in learning more and more. Some of the most popular time managing applications are Evernote for Android & iOS, Todoist for Android & iOS and Kiwake for Android & iOS.

2. Improve Communication Skills:
Communication skills will help me to become a better listener, to understand the concepts and to gain confidence and be able to work in groups. As a college student, such skills will help me to communicate confidently and understand thoroughly. With the help of different online courses and applications about Communication Skills, it has been made very easy, cost-free and simple for anyone to excel in it.

3. Become a Good Reader:
Books are very helpful in many ways, such as in vocabulary skills, reading skills, thinking skills and concentration. It can sharpen one's mind and improves the functionality of brain. I want to become a good reader in the future and I would also love to write a 'book' for students about Mental Health and Study. Currently, with the help of ICT , finding books on any topic has been made very simple, easy and quick! We can just search a book's title and get it in PDF form in our PC, phones and laptops.

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CRM & 4 R's of Marketing and thier Use in Future Career.

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CRM & 4 R's of Marketing and thier Use in Future Career.

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The four R's of Marketing are
1) Relationships
2) Retention
3) Referrals
4) Recovery

CRM system helps a company to achieve maximum customers' satisfaction, customers' retention and customers' recovery. The above 4 R's have been made achievable with the use of CRM system.

CRM for Customer Relationships: CRM system can help a company to build customer relationships through many different ways such as, providing company's website, promoting the company through social media platforms, SMS promotion, online list of sales and E-mail services. CRM in combination with ICT will provide the best tools to build, maintain and create relationships with customers.

CRM for Customer Retention:
A CRM system also helps a company to make the customers stick to its products and stay loyal. CRM does this in many ways such as it allows a market to save money by focusing more on the customer's loyalty, it also enables the company to gain free word of mouth advertising and get attractive feedback from the customers. CRM also helps in building purchases from the same customers, to achieve maximum profit as well as loyalty from the customers.

CRM for Customer Referrals:
A CRM system helps a business by displaying the entire customer satisfaction and loyalty. Keeping a track of customer makes it easier for the company to determine when to ask the customer about a deal. CRM with combination of ICT helps a company to offer a reward program to the customers to attain customer retention and increase profitability.

CRM for Customer Recovery: Customer recovery is necessary for any business. A CRM system helps a business to realize and recognize when and why the customers are losing interests. It keeps a record of customers that will allow the business to know the customer's buying pattern and behaviour. This helps a business to realize and take steps to avoid losing the customers.

CRM and My Future Career:
A CRM System will surely help me in my future career and business because of the following reasons:
1) It will help me in increasing customer satisfaction for my business.
2) It will help me build, maintain and create customer loyalty
3) It will help me improve my business's services more.
4) It will help me to use simple, easy and user-friendly ways to convince and attract my customers. Chat-bot services, E-mail services and FAQ will help me and my business to help those customers who are confused and having some issues
5) It will also help me to be up-to-date in technology as well as in providing services.
6) It will help my business to grow more, be up-to-date in terms of technology, provide the latest and useful services, gain profit and achieve maximum customer satisfaction.
7) It will help me to be able to organize my business in a precise and a correct manner, making it easy for me to analyze, manage and control the customer relations with my business.
8) It will also help me to be able to differentiate between the loyal and disloyal customers, by providing me the customers' detailed information. It will also help me in building strong and powerful relationships with my customers and convince them to stay loyal.

Picture source:
https://www.entrepreneur.com/article/298189

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Accounting, then and now. Importance of Accounting Systems.

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Accounting, then and now. Importance of Accounting Systems.

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Accounting, then and now:

As we talk about accounting, in the past, everything was manual. The accounts were recorded, kept and maintained using books and registers. It was very tough and difficult to maintain the accounts on registers. However with the passage of time and with the advancement in technology, the companies use accounting software to maintain and record accounts. Technology provides better speed and accuracy to the companies to store and maintain accounts.

Importance of Accounting Systems:

Accounting system is a system that contains the information and recognizes, identifies, records, maintains and communicates the monetary(involving money) events of a company or an organization to the people involved and have interests in that organization/company (i.e, stakeholders, management team, government etc). In simple words, we can say that accounting is the language of business.

Accounting systems can be helpful in different ways such as:

Evaluating profit or losses.

Generating reports.

Allowing to make future decisions related to finance and marketing.

Visualizing business's past and present performance.

Managing payroll records.

Maintaining budget.

Providing and setting up with financial data that a company requires/needs.

Minimizing corruptions and frauds.

Picture source: https://prezi.com/l_1j5xoq8j_3/accounting-then-and-now/

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Income Statement:
Income statement is a summarized accounting view of a firm's or a company's revenues, expenses and profits during a specific period, usually one year. Companies and organizations use income statements to be able to see and know how much money they made or lost during the specified period (1 year).

Balance Sheet Statement:
The balance sheet statement is a summarized accounting view and outlook of a company's and firm's assets, liabilities and owners' equity accounts that shows the where the money is by the end of the specified period. In short, it shows the overall 'worth' of an organization as a business during specific period.

As we know that accounting system must have to be accurate and well defined, therefore the balance sheet is set up in order to 'balance' the numbers.

A balance sheet is divided into 3 components/parts.

The left side of the sheet contain the firm's/company's assets.

The right side of the sheet contain two things, the firm's/company's liabilities(on the top) and stakeholders' equity(on the bottom).

Assets are further divided and calculated as current assets(used in a year or less) and fixed assets(will be used for longer than a year).

Liabilities are also further divided and calculated as current liabilities(debts to be paid in a year or less) and long-term liabilities(to be paid after a year and later).

With the use of balance sheet, it has been made very simple and much easy to understand your business financially. It provides the overall worth of your business' financial status during a specified period of time.

Cash Flow Statement:

A cash flow statement is a financial statement that provides and shows how the variations and changes in balance sheet account and income statements will affect the cash equivalents. It also includes all the cash outflows that pay for business activities during a specified period of time.

The cash flow statement consists of three sections which are as follows:

1. Operating activities.

2. Investing activities.

3. Financing activities.

Picture source:
https://corporatefinanceinstitute.com/resources/knowledge/accounting/three-financial-statements/

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The Accounting Equation(something new for me)

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The Accounting Equation(something new for me)

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Accounting Equation:

The accounting equation can be found by re-arranging the formula given below:

Worth = Own(Have) - Owe

Here worth is owners equity, own(have) are firm's assets and owe are the firm's liabilities.

So, we can say

Owners Equity = Assets - Liabilities

And we can write the above equation as:

Assets = Owners Equity + Liabilities

This formula/equation is known as the accounting equation.

Picture source:
https://www.wallstreetmojo.com/accounting-equation-formula/

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Understanding Accounting Systems for my Future.

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Understanding Accounting Systems for my Future.

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An Important Fact:

As we know, if we are living in a specific country (say Russia) then the most important thing for us to learn will be their language, the Russian Language. Similarly, accounting is the language of business. So in order to communicate with the business, we must know it's language. To learn about the business, we must know it's language. Learning accounting systems is as important as learning Arabic while being in Qatar.

Using the Internet, a form of ICT, I can easily learn, understand and expertise the concepts of accounting systems. Different books related to work ethics and accounting systems will also help me to learn more about accounting systems. In my opinion accounting is a mandatory and a necessary field for everyone who's willing to start their business, because in order to communicate with your business, learning accounting systems is very important.

Picture Source:
https://www.slideshare.net/mobile/amirhajdar/presentation01-8065522

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HRM and its Definition:
HRM stands for Human Resource Management. It can be defined as an approach and a process of managing employees in a company/organisation.

Functions of HRM:
HRM is capable of performing managerial functions and operative functions. The managerial functions are related to management, such as staffing, planning, organising, directing, controlling etc. The operative functions are related to workable and functioning concepts, such as development, procurement, maintenance, motivation, integration etc.

HRM in Business:
The overall business activities that are included in getting, keeping, enhancing and improving the human resources are done using the HRM system. So from analysing and planning for hiring new employees to developing and expanding employee skills, the HRM plays a vital role, making the above processes easy, satisfactory and precise.

Picture source:
https://www.fiverr.com/christinemkrttc/do-human-resource-management-and-organizations-tasks

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In my opinion, the most important workflow module for business operation is the Training and Development. The main reason is that it will help and support the employees in order to train themselves technically as well as personally. It is often said that the first impression is the last impression, which means if the employees of a company/ an organisation show a bad impression, then it will remain bad. If good impression is shown at first, then the company/organisation will reflect positively and will have a positive image. So for any organisation or company, the most important key to success, in my opinion and view, would definitely be based on how the employees are working and how their personalities are reflecting towards the customers.

What is Training Management?
Training Management is a systematic, an organised and a methodical setup where the employees of an organisation are instructed, trained and taught matters of technical knowledge that meet their jobs/that are related to their jobs.
Training needs analysis. It is important for the trainer to be aware and have complete knowledge about the trainees' needs. A good trainer is the one who completely knows the requirements of the organisation/company. Knowing the requirements of an organisation and department is very important because the requirements will determine the required trainings that need to be provided for the employees.
With the help of training analysis, a trainer will be able to make sure that the company's resources are put to good use.

Training Analysis:
There are several types of training analyses that are preferred to be done before a trainer takes on a session. Some of them are:

1)Employee Analysis:
A trainer must understand the employees. This analysis will allow the trainer to know what approach and method to take and to know if there are certain variations made to the work organisation.

2)Organisational Analysis:
This analysis is done on organisational level. During this analysis, the trainer comes to know about the overall progress, vision, goals and objectives of the organisation/company. Then the trainer will progress accordingly.

3)Work and Performance Analysis:
For work analysis, the trainer will analyse all the requirements of the task of a specific work unit.
Analysing the performance level of the employees will enable the trainer to understand how to begin the training. It is also important to make sure that the objectives of the training are achieved and the main content is precisely understood and is not lost.

Training Management and CRM:
As we know that the goal of Customer Relationship Management (CRM) is to  maintain and improve business relationships. Well trained employees will be able to convince and attract more customers. Well trained employees can improve a business' relationship with customers in a much better way. Therefore, in my opinion, training the employees will not only help the company/organisation to grow, but also improves the relationship of the organisation/company with its customers.

My Suggestions:
As an IT professional, I would like to suggest and recommend my opinion about training management. The trainer should be passionate about what he/she has been instructed to teach. For example, the trainer for software must have passion, interest and love for coding. This will help the employees to learn with a great passion too. The trainer for web developing must have passion, interest and love for the topics related to web development (HTML, CSS, JAVASCRIPT, Jquery etc). Web development is fun when it is taught and instructed in a passionate way.

Picture source:
https://www.slideshare.net/genuachan/training-need-analysis-training-and-development

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Introduction to ERP and its Comparison with CRM.

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Introduction to ERP and its Comparison with CRM.

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ERP and Its Definition:
ERP stands for Enterprise Resource Planning. In order to know the definition of an ERP system, we have to think about all of the various and different processes that are essential to running a business, including inventory and order management, accounting, human resources, CRM (Customer Relationship Management) and sales distribution. An ERP software combines and integrates all of the above functions into one complete system to streamline processes and information across the entire organisation.

ERP and CRM Comparison:
ERP serves as the back-end(back-office tool) of the business, which means that an ERP software deals with the financial reasource management, human resource management, CRM , manufacturing resource planning and supply chain management.
On the other hand, CRM(Customer Relationship Management) serves as the front-end(front-office tool) of the business, which means that a CRM software deals with the useful strategies that companies use to handle and manage interactions with the customers.
In simple words, we can say that an ERP system allows a company to focus on all the aspects of the business, whereas a CRM allows a company to focus on prospect and customer interactions.
Some Examples of ERP Software:
1)ERPNext:
https://erpnext.com/

2)Odoo:
https://www.odoo.com/

3)HashMicro:
https://www.hashmicro.com/

Some Examples of CRM Software:
1)NIMBLE CRM:
https://www.nimble.com/

2)Salesforce:
https://www.salesforce.com/eu/

3)HubSpot:
https://www.hubspot.com/products/crm

A picture that shows the different as well as some similar features and functions of ERP and CRM systems.
Picture source:
https://www.activebs.com/en/news/2018/crm-vs-erp---what-is-the-difference

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As an IT professional, I suggest that while the implementation of an ERP system/software, the organisation should consider the following:
1)Participate in ERP software selection, including the overall view of the business process management. Identify the reason of implementing.
2)Work with a third-party expert in order to ease the processes and determine the areas of customisation. Well-trained employees and IT experts must be hired for perfect implementation.
3)Help to determine what the organisation will do about the space between its requirements and the system's capabilities.
4)Work with experts to carry on the maintenance and testing of the chosen system/software.
5)Create a plan to handle the issues and to determine how the organisation will handle user and system issues.
6)Contract with a third-party to determine training strategies and the required materials such as software, programming languages etc. This is very important because every kind of software requires to be tested frequently in order to work accurately and precisely.

Picture source:
https://www.optiproerp.com/in/blog/steps-for-successful-erp-implementation/

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Interesting Concepts of ERP and their Relation with ICT.

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Interesting Concepts of ERP and their Relation with ICT.

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Some of the interesting concepts of ERP systems are as follows:

1)Wide Enterprise Integration: The processes of a business are combined and integrated end to end across departments and business units. With the help of ICT, this concept has been made very easy and simple to be achieved.

2)Real-time Operations: Since the processes can occur within a few seconds of order receipt, hence an ERP software combined with the help of ICT , can be used to identify problems quickly, which will allow the seller to have more time to fix and correct the situation.

3)Common/Central Database: One of the most interesting features of an ERP software, is that it provides a common or a central database, that enables data to be defined at once , for the enterprise. However, there are some ERP systems that split databases to improve the overall performance. ICT's contribution have made the database management's performance, much precise and better for the ERP software.

In all of the above cases, the ICT's contribution is flawless. Every online ERP software works with the help of an Internet, which is a part of ICT. Every business has its own objectives, processes and requirements. But above all of these , the current(today's) businesses need technologies with complete functions that will serve as a bridge between the business processes and the people. In order to run a very large organisation with multiple departments and teams, an ERP system always gives a helping hand by providing and arranging all of the information within the organisation. An ERP software also allows communication to take place within the organisation. With the help of an ERP software, all of the critical processes are streamlined effectively and accurately.

Picture source:
https://www.researchgate.net/figure/ERP-systems-concept_fig1_309575659