Managing Technologies and Innovation-Free Samples for Students

Questions: Discuss about the Role of Information Technology in all Sectors. Discuss about the Innovation through IT in Google Inc. Discuss about the Customer Relationship Management. Answers: 1.Information Technology is becoming the backbone of several industries. All the companies are becoming dependent on IT for achieving operational efficiency and improving customer service. IT plays a significant role in various industries like: Media: IT has upgraded this field and has enabled the distribution of news on a wider scale. Online news websites like www.bbc.com have also been launched for keeping the people updated. Banking: IT has automated the flow of information in banks. Online banking via banking apps and websites has improved the satisfaction level of customers. Education: IT has facilitated students to gain knowledge regarding any subject and share information with other students in an effective manner. Online journals and books have made the process of education easier. Medicine: Advanced technologies, equipments and techniques that are developed by IT have enabled the physicians to provide accurate treatment to the patients. Transport: IT innovations and inventions have upgraded this industry. People are able to check the schedule and seat availability of trains and flights. IT plays a major role in technological companies. IT has promoted efficient management of business and develops new services and products by automating business processes (Drnevich and Croson 2013). Technological companies are able to improve its communication process via e-mail, video calls and social media. MIS has helped the companies to track various data and information for maximizing profit and minimizing cost. CRM systems have enabled the technological companies to improve its customer service level and generate more revenue. IT is known for fostering and promoting innovation in technological businesses. Innovation leads to improved database management, faster data processing, smarter apps and wider distribution of information. Innovation through IT increases productivity, enhances quality and increases the value. Digital marketing, online shopping and VoIP communication are examples of innovation via IT. IT and innovation are closely related (Guzman, Pealba, and Morejn 2013). IT improves business performance through innovation. 2.Google believes in developing and launching innovative products regularly and to improve the products on a continuous basis by an iterative process. The main aim f the Google research team is to bring practical benefits to the users. The research procedure begins with exploring research ideas, developing and maintaining software. The focus of the entire organization is on rapid innovation. According to annual report of Google, the RD expenses in the year 2015 were 16 % of the revenue. The expenses had increased by $ 627 million between the year 2014 and 2015 (Abc.xyz 2017). The RD budget is allocated for facilities, labor related costs and development of new services, product and equipment related expenses. Innovative research is carried out in Google. The strategic focus of the RD department of Google is on certain areas like advertising, search, machine learning and developing new services and products. Google uses service-based delivery model that gives benefit to the RD department. Designing, testing, production as well as maintenance processes are simplified by using the service-based model. Talented employees are hired for the engineering operations. Hybrid research model plays a significant role in inventing new products and services (Spector, Norvig and Petrov 2012). The aim of this model is to disseminate knowledge by flexible collection of various methods and approaches. The advanced projects are focused on newness and creativity. The research team creates new technologies and concepts. Several innovations have been promoted by IT like language translation, speech recognition, market algorithm, computer vision and machine learning. Google invests in research for developing efficient IT infrastructure. Google has a secretive lab called Google X, which is responsible for experimenting with future technologies. Google innovative projects include driverless cars, project glass and robotics avatars (Business Insider 2017). Latest innovations of Google include Google Assistant that uses Google Lens technology to analyze the surroundings and give relevant information on the Smartphone screen. Google has tried to incorporate AI to the camera of the Smartphone. Google is turning the smart speakers into phones. Google recently offers photo books that are printed. Google is focused in developing moonshot projects. 3.CRM refers to technologies, strategies and practices that organizations use for managing and analyzing customer details and interactions throughout the lifecycle of the customers for the improvement of business relationships. This technology collects and integrates information from various channels like company website, live chat, mail, social media, telephone and marketing materials (Nguyen and Mutum 2012). CRM systems provide the companies with detailed customer information like purchase history, concerns and buying preferences. CRM systems store information in a single centralized database. Business users can manage and access the information stored in CRM. This technology is also known for automating workflow processes such as alerts, calendars and tasks. Managers are able to track productivity and performance by utilizing CRM systems. CRM tools can automate same or repetitive tasks for enhancing marketing efforts. Automation of sales force is also achieved by CRM systems. CRM systems have the capability to create marketing campaigns in different geographic locations. Cloud based CRMs are based on SaaS service model where information is stored on a remote and external network (Kumar and Reinartz 2012). Most of the companies use cloud based CRM system for enhancing the quality of customer service. Companies are able to increase its sales level and improve its digital marketing capabilities by adopting CRM systems. Banks are able to achieve competitive advantage by targeting specific and potential customer groups. CRM solutions are used in consulting companies for client acquisition and management. It also helps in project management. CRM solutions support several functions in IT companies. It supports customer consultation, project planning and software marketing. There are several communication channels via which the customers can contact the companies. CRM systems have the capability to integrate information from all the channels and presenting it to the companies. Engineering companies use CRM for controlling costs and creating quotes. It enables the companies to view all the customer and project details. Scientific institutions also use CRM for planning, organizing, managing projects and transferring technology. CRM systems are responsible for increasing the level of custo mer satisfaction (Khodakarami and Chan 2014). CRM technology can be tailored for meeting the exact needs of the clients. References Abc.xyz.,2017.GoogleInc.[online]Availableat:https://abc.xyz/investor/pdf/20150331_google_10Q.pdf [Accessed 10 Nov. 2017]. Business Insider., 2017.A pill that can detect cancer cells. [online] Available at: https://www.businessinsider.in/Google-and-Alphabets-20-most-ambitious-moonshot-projects/Driverless-cars/slideshow/50988332.cms [Accessed 10 Nov. 2017]. Drnevich, P.L. and Croson, D.C., 2013. Information technology and business-level strategy: Toward an integrated theoretical perspective.Mis Quarterly,37(2). Guzman, G.M., Pealba, J.E.M. and Morejn, V.M.M., 2013. The Relationship between Innovation, Information Communication Technology, and Quality: A Latin American Enterprises Perspective.Journal of Business and Economics, p.1265. Khodakarami, F. and Chan, Y.E., 2014. Exploring the role of customer relationship management (CRM) systems in customer knowledge creation.Information Management,51(1), pp.27-42. Kumar, V. and Reinartz, W., 2012.Customer relationship management: Concept, strategy, and tools. Springer Science Business Media. Nguyen, B. and Mutum, D.S., 2012. A review of customer relationship management: successes, advances, pitfalls and futures.Business Process Management Journal,18(3), pp.400-419. Spector, A., Norvig, P. and Petrov, S., 2012. Google's hybrid approach to research.Communications of the ACM,55(7), pp.34-37.