Implementing ERP Solution Projects in SMBs Essay Example for Free

Implementing ERP Solution Projects in SMBs Essay Managing and developing intellectual capital in many of today’s organizations is becoming the greatest asset. Different firms of different sizes operating in different sectors are seeking a way of performing this task effectively and efficiently. Among the different tools under considerations, many consider Enterprise Resource Planning (ERP) software packages essential tools to effectively manage, retain and share knowledge among stakeholders at all echelons. ERP implementation causes changes to the receiving organization given its comprehensiveness and integrity. As a result challenges which results into additional risks and realization of new opportunities arise and proper action must be taken to avert or reinforce the challenge for better results. ERP solution system is as an opportunity for business entities whether small or large to use software applications that are specifically designed to upgrade the various business functions and attain the best business practices (Markus and Tanis, 2000, Marnewick and Labuschagne, 2005). Effective implementation of ERP software applications ensures that the major functional parts of a business enterprise are linked together in a common amalgamated software system (Sandoe et al, 2001, Rao 2000). This process makes it possible for the business activities to be instigated more efficiently and cooperation among the workers becomes more effective through the interactive information system. The process of implementing ERP in Small and Medium Businesses (SMBs) is beset with extra challenges and opportunities due to their specialty. The SMBs have limited financial and human resources, limited experience in project management and sometimes limited managerial competencies which determines the agility of their operations. Problem Statement Implementing ERP, projects require specialized application because they affect the receiving organization to different degrees. In implementing an ERP, solution divisions and departments within an organization have to be integrated into a single business platform, which affects the business model and the organization culture (Markus and Tanis, 2000). This makes the project risky and intricate. Due to global business factors, economic expansion and IT revolution ERP solutions are becoming a requirement for business success. SMBs being key players in the economic activity are not left out in this competition. However, the process and success stories of ERP solutions in SMBs is lacking as past studies mainly focused on the large scale enterprises ERP solution process and application. In addition, the present trend of ERP solution project implementation by SMBs in the diverse business sectors and industries calls for the exploration of the opportunities and challenges of Implementing ERP Solution Projects in SMBs to pave way for the identification of ways of avoiding or minimizing losses in the implementation process (Soh et al, 2000). SMBs organization structures and organizational cultures are not all well defined. This coupled with the rigidity of the organization structure and culture present serious challenges to the implementation of ERP projects in SMBs. Additionally ERP projects are more successful in easy to change and agile organizations. However, unlike in large companies, the senior management team of the SMBs is normally part of the daily business operations and lacks in-depth knowledge and skills necessary to have organized long-term plans for the business and even the adoption of ERP solution projects. Similarly low capital base and lack of properly trained personnel have remained a major setback in the running of the functions of SMBs. This problem is compounded by lack of sufficient funds to sustain training and engage quality consultants in such trainings. According to Sandoe et al (2001) many SMBs lack dedicated IT staff able to perform the risk management function exposing major business operations to unnecessary risks. Likewise, within internal functions of a SMB, organizational changes that would give room for adoption of technology are limited due to lack of unused resources. The impact of unsuccessful implementation of ERP solution to a SMB are said to be greater to the entire operations of the business enterprise while the success of wisely implemented ERP system will have a whole organizational positive impact (Rao 2000).

Keep Your Eyes on Your Wife Essay -- essays research papers

Keep Your Eyes on Your Wife   Ã‚  Ã‚  Ã‚  Ã‚   Shaw’s depiction of Michael in The Girls in Their Summer Dresses is that he is happily married to his wife of five years. He thinks he supports his wife and loves her dearly; however, this is not true because his actions show otherwise. When he stares at other women, he hurts his wife’s feelings and hurts their relationship.   Ã‚  Ã‚  Ã‚  Ã‚  Marriage is portrayed as something that is a fact of life, not the special bond it is. A man or woman is married but still feels the need to look at the opposite sex while not realizing that this hurts the other. Even if a man thinks another woman is attractive or even more attractive than his wife, he should, under no circumstances, let his wife know he thinks this. It hurts a relationship when someone looks at the opposite sex as if they want him or her.  Ã‚  Ã‚  Ã‚  Ã‚   Michael is depicted as thinking he is happily married and very much in love with his wife. In reality, if he were so happy with his wife, he would not feel the need to obviously stare at other women. He is lying to himself to think he is happy with his wife. Because he is lying to himself, he is also lying to her. By him staring at other women, it shows that he is disregarding her by inattentiveness to her needs, wishes, and desires. A husband is supposed to want to fulfill his wife’s desires daily. Frances tells him â€Å"†¦we only see each other in bed (1034).† This shows that he does not ...

Finance and Company Essay

So Wrigley has to make decisions on whether or not to borrow $ 3 billion for recapitalization. Question Based on the above situation, there are few questions that arise as seen below: ? Whether the recapitalization would be good for the company’s development in the long run? ?After borrowing $ 3 billion dollars what would the impact on the company’s debt rating be? ?What’s the impact on the company’s share value; would the recapitalization increase the company’s share value? ?What’s the impact on the company’s WACC, an increase or decrease? Would recapitalization increases the EPS of the company? Hypothesis Before capital restructuring due to not having any debt, return on capital and operating income as a percent of sales can be used based on exhibit 2(it is $513,356/$2,429,646= 21%) which is the A to AA range of investment grade. After recapitalization, the company’s debt rating will fall to a BB/B rating which reflects a higher risk and lower debt rating that will cause higher yields. According to Exhibit 7’s given information, the yield is between BB (12. 753) to B (14. 663) to obtain a cost of debt. Impact on share value If the company chooses to repurchase the stock, the WD will be 22. 89% (3,000,000/13,103,000), the WACC will be 10. 19% (22. 89% (1-40%)*13%+77. 1%*10. 9%). Both 10. 32% and 10. 19% are lower than the WACC before recapitalization, which indicates that after the recapitalization the company will have a lower minimum rate of return for the company that it needs to earn on its investments to maintain its wealth. Impact on Voting Control If the company is using the dividend plan to do capital restructuring, there will not be any impact on voting control. However, if the company is using the stock repurchase plan, it will have an influence on the voting control. The current Wrigley family ownership includes 21% of common shares and 58% of B shares. The total numbers of shares outstanding for Wrigley consists of the sum of the common shares of 189. 8 million and class B shares of 42. 641 million (10 votes each), a total of 232,441 million shares. So the company will have 46. 6% ((189. 8*21%+426. 41*58%)/616. 21=46. 6%)voting control before recapitalization. After the recapitalization the voting control will increase to 49% [(179. 22-42. 641)*21%+426. 41*58%]/ (136. 58+426. 41) =49Based on the above analysis, my suggestion is not to borrow $ 3 billion dollars, or if the company insists in doing a recapitalization I would suggest for them to not borrow as much and to make some investment on assets instead of it all in equity. For the Wrigley Company I think they should keep their debt below 50 percent. Because after recapitalization, it will have negative impacts on EPS, debt rating, share value and it has a slightly positive impact on WACC and voting control. The results of impact on EPS analysis shows that EPS will drop from $ 1. 61 to 0. 46 and, the debt/ assets ratio will be 169% which will increase the company’s risks. From a debt rating aspect, after borrowing $ 3 billion dollars, the debt rating of the company will decline from AA/A to BB/B which means that the company will have a higher interest rate, more interest expense and a lower credit rating in the future. This is not good for the company’s future development. From a long term prospective, I believe it’s important that the company be careful in determining whether they should pursue a dividend or stock repurchase strategy. If the company chooses to use the $ 3 billion to pay dividends now, it might increase the investor’s satisfaction in the short run but once the dividend has been paid, the investor will expect the same amount of dividend in the future and a lower dividend might disappoint investors and that might affect the company’s stock price in the future. The stock repurchase is temporary as well, so after the repurchase the ending stock price might drop and it may hurt a potential new investor who made a purchase during the repurchase period. All things considered as long as Wrigley keeps an eye on their long term goals and continues to look at the big picture whilst making good solid financial choices for their company they should be most successful.

I Want to Become a Software Engineer - 927 Words

Career Choice As human beings, we gather knowledge from many different sources. These sources can have an impact on our life and influence the choices we make that will affect our future. I have made a choice to pursue a career in the field of Software Engineering, because of my interests in technology and engineering. My values in life include having variety and independence within my chosen career. After dreaming of becoming a dentist following in my grandfathers footsteps, I realized dentistry for a career choice did not line up with my values and interests. I began taking different tests that evaluated my skills, interests, and values which ultimately led me to a choice in the technological field. The technological field will allow me to carry out my calling in life to help other by making everyday tasks easier through Software Engineering. Dear Stephen Thoen, After reviewing your chosen path of Software Engineering, your past has led you to a decision that has been influence by your surroundings. As you should know that reason plays no part in developing a decision in the career path you should choose. The research you have conducted has led you down a path that is not valid. The self-knowledge that you have is bias because of how limited it actually is. The knowledge you have about your past has only been developed through empiricism and authoritarianism. Your grandfather has flooded your mind with the idea of dentistry, but that does not result in a gain inShow MoreRelatedHow Computer And Software Systems Essay1218 Words   |  5 Pages I have always wanted a career that deals with computer science. Working with computers in general is interesting to me. This is the way it has always been. I have gone back and forth and chose other things over the years, but I always go back to a career with technology. 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