You will decide on a new business venture and recommend an MIS to support its success. You will need to clearly define the product/service and identify the competitive strategy of the business venture. Then, you will need to map out the processes aligned to the business functions (think swimlane chart). Once you have the processes mapped out, you will need to define the types of information you will want to capture and analyze from the various business functions. After defining all of these specifications, you will need to develop a robust and thorough MIS recommendation. For example: is there an existing software application that does all the things your business requires, can you integrate existing apps, or will you need a custom built application?
Here is what you will need to document:
Competitive strategy justification
Business function processes mapped out with data/IS needs
Management dashboard needs
Recommendation for MIS to support these items
Some questions you may need to think about are:
How will the business acquire raw materials, products, or other resources needed?
What needs to happen to transform these raw materials/resources into something a customer
How will the customer purchase the product/service?
How will the product/service be delivered to the customer?
How will the product/service be marketed (social, mobile, traditional, etc.)?
Some possible business ventures include:
Meal kit preparations
Healthy fast food
Drone delivery service
Virtual reality or augmented reality (real estate, team-building, training, shopping, meditation)
Fresh markets on wheels
A venture capitalist wants to meet with you about your new business venture. The potential investor is adamant about the need for a strong enterprise MIS that supports and integrates all aspects of the business. You will need to answer the following questions:
What is the company’s competitive advantage?
What are the value chain functions and how can the MIS components help make them more
efficient and effective?
What are the business processes and how will they be integrated (swimlane chart)?
What are the MIS requirements for the effected value chain and support activities?
How can data reporting and data mining help the company?
What software is available to support the MIS requirements?
What is your recommendation for the company and what ROI do you forecast?
Professional Report Sections
Executive summary: This should be a summary of your findings and recommendations. It should be the last thing you do. Otherwise, you are making statements without adequate knowledge and justification.
Evaluation of the Problem: Describe the problem in terms of how the proposed business will impact customers and its competitive advantage. Cite sources and include links where applicable.
Statement of Solution: Describe the business solution by identifying and explaining how it will solve the stated problem. How will the customer benefit from the functionality and/or features of the solution? Cite sources and include links where applicable.
Critical Specifications: Describe the functional and technical specifications the solution will have to consider. What business functions are being impacted and in what way? An analysis of efficiency and effectiveness is necessary. Include any other information you find valuable to your evaluation. Cite sources and include links where applicable.
Option Overview: Describe the different MIS solutions and how well each option meets the critical specifications. What are the pros and cons of each option? What are the potential rewards and risks? What are the strengths and weaknesses?
Recommendation: Recommend an MIS strategy that leverages the things you have learned in this class. Cite sources and include links where applicable.
Your recommendation should be a comprehensive strategy that addresses:
The strategic solution with justification for your reasoning
SMART objectives that align functionality, processes, and IS
The return on investment
A mock-up of a dashboard to manage progress and evaluate project success