SYS210 Managing Technologies and Innovation

Question 1

Part (a) Understanding CSFs and KPIs

The various sectors of business which are important for the achievement of organisational objectives and its achievement are critical success factors. These are also called the area of key outcomes (KRA). CSFs are all of the elements that contribute to the company's success. While your overall strategy establishes the company's objective and goals (i.e. what you aim to accomplish), CSFs detail how you will get there. CSFs such as increasing cash flow, growing sales, enhancing customer happiness, recruiting employees with the proper capabilities, and increasing productivity will apply to most businesses across most sectors (Eybers, 2015).

By establishing your CSFs, you will establish a consistent benchmark for how the company must fulfil its objectives. This is how CSFs give the organization's much required background by concentrating everyone on the vital actions to be carried out and the priorities to be accomplished. Everyone can comprehend and get back to something CSFs need to be.

Whereas, KPI (key performance indicators are the metrics for measuring the performance of individual, team and entire company. This metrics helps the management to understand and analyse the development of individual and business in the right direction (Carlucci, 2010).

Key performance indicators can be expressed in quantity, cost and how well the employees are performing. The one-time delivery of the daily tasks ensuring quality is a key performance indicator. The Mapping of resources across the industry is a best way to apply and analyse KPIs.

Part B

Critical success factors (CSF), play a vital role in the success of the MIS project, are the variables. The CSFs assist you identify how you anticipate to achieve the various goals inside a company. Most managers utilise the CSFs to identify the processes for the success of a MIS project. The requirements for a company to fulfil its objectives are called CSFs. For instance, the company needs a high product quality, reduction of production costs and improvement in its market share for a MIS project in a manufacturing organisation. Human resource management is an important factor to achieve organisational success. Considering emphasis on this during the pandemic situation and making sure effective working from different locations will helps in achieving the organisational objective.

KPIs are the metrics measures utilised whether the key success criteria in the MIS project work. KPIs assess how well teams, corporations and people achieve their objectives. Managers use the KPIs to determine if the company is following the right path and to determine whether further improvements are needed. KPIs are used by managers to evaluate measurable metrics in the context of a MIS project. Using the metrics, the efficiency of a MIS project can easily be assessed. For instance, to evaluate the success of MIS project, the management team can track the system of employees working from different locations during the pandemic and can call for a daily performance report to analyse their growth towards company objective.

Question 2

• For all professionals at each level of the organisation who decide to manage the business, decision-making skills are crucial. Employees establish, control, and manage fundamental business activities necessary to execute day-to-day operations at the operational level (Buckley and Casson, 2019). Operational decisions are structured decisions that arise in circumstances where pre-existing procedures provide potential solutions. Structured selections are often made and are almost repeated; they impact on corporate strategy in the near run. Employees at the managerial level are constantly evaluating corporate operations in order to improve the organization's ability to recognise, adapt to, and harness change. Short- and medium-term plans, timetables, and budgets, as well as policies, processes, and the firm's business objectives, are all covered by managerial choices. These are known as semi-structured decisions, and they arise when a few established processes aid in the evaluation of prospective solutions, but not enough to lead to a definitive suggested option. Managers define broad corporate plans, objectives and targets at the strategic level as part of the strategic plan. They also assess the organization's strategic performance and general orientation in the political, business and competitive environment. These decisions are unstructured decisions that occur when there are no procedures or norms in place to steer decision-makers toward the best option. It is uncommon, very significant and usually linked to long-term corporate strategy (Waghmare, 2021).
• During this Covid 19 outbreak, our lifestyle has been significantly impacted. There have been major limitations or discontinuations on public activity. COVID-19 not only has a negative impact on the lives of millions of people, but it also has a significant negative impact on our economies. The total market has collapsed, and some companies have had their supply lines cut off, while others are witnessing a surge in demand, causing disruption to employees' everyday lives. Coordination and decision-making have also changed as a consequence of COVID-19 pandemic.
  
  

The impact of the current epidemic on enterprises must be studied by each company, and appropriate measures based on an external perspective, preferably highlighted in scenario-oriented strategy reduction, must be implemented. The decision-making process must include a factual approach, which, in today's world, entails the collecting of meaningful information in order to analyse numerous possibilities, avoiding the selective use of information. In crucial situations, however, it is not unusual for businesses to depend only on managerial knowledge or even a gut instinct.

In order to survive in this circumstance, companies must make decisions that are complicated, hazardous, and unclear. The top management must adjust their aims and targets to the changes brought on by the pandemic in terms of the strategic level of decision-making. The decision-making process at this level involves the development of a strategic approach to the organization's financial and operational situation. It requires rearrangement and to go back to the fundamental elements. Examine all the gap created by COVID19 and search for ways of mitigating the risk, particularly in the future. As far as management level decision-making is concerned, managers would need to make sure that the overall strategy set out by top management is implemented in a manner consistent with the current or reorganised goals and aims of the company and at an operational level of decision-making.

References

Eybers, S., 2015. Identifying critical success factors for business intelligence systems. In The European Conference on Information Systems Management (p. 77). Academic Conferences International Limited.

Carlucci, D., 2010. Evaluating and selecting key performance indicators: an ANP‐based model. Measuring Business Excellence.

Buckley, P. and Casson, M., 2019. Decision-making in international business. Journal of International Business Studies, 50(8), pp.1424-1439.

Waghmare, S., 2021.  <http://nevillewadia.com/wp-content/uploads/2019/03/G6.pdf>

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