Identify at least four benefits and four challenges of enterprise systems
What will be an ideal response?
Benefits include: increasing operational efficiency; providing firmwide information to help decision making; standardized business processes; greater responsiveness to customer needs; greater accuracy in fulfilling product demand; reduction of inventory and inventory costs; reduction in order-to-delivery time; improving business processes; removing redundant processes and systems; lowering costs through centralized processing; and improved decision making. Challenges include: the expense of the software and related costs; the time required for implementation; deep-seated technological changes required, the deep-seated organizational changes required; overcoming organizational resistance; switching costs; data cleansing work required.
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In general, the more net working capital a firm has, ________
A) the greater its risk B) the lower its risk C) the less likely are creditors to lend to the firm D) the lower its level of long-term funds
Which of the following describes Immanuel Kant's Categorical Imperative?
A) If an action cannot be taken repeatedly, then it is not right to be taken at any time. B) One should take the action that produces the least harm or incurs the least cost. C) One can put values in rank order and understand the consequences of various courses of action. D) If an action is not right for everyone to take, it is not right for anyone to take. E) You should act towards others as you would like them to act towards you.