Retro Records, Business Proposal Example

Introduction

Our idea for Retro Records as a local record store may be bolstered with techniques commonly used in information systems to support business. Certain kinds of systems would help Retro Records, but there are some disadvantages. This proposal recommends five types of systems to be implemented for the store: functional, transaction processing, enterprise resource planning, executive interfacing, and e-commerce. The allocation of resources will be returned in the long run through saved opportunity costs mainly.

Summary

This summary outlines the five types of information systems recommended for Retro Records. The following table represents the system types, their general purposes, and some specific examples.

Advantages      

The advantages of integrating information technology into the business plan are manifold. Some of these advantages follow:

• Increased efficiency in executing daily business.
• More effective information warehousing and accessibility.
• Greater executive decision support.
• Significant broadening of the market.

It will increase our efficiency by allowing us to keep sales information as it occurs with a point of sale system. Furthermore, that information may be easily accessible to help us support our business decisions with up-to-the minute data at our fingertips. Plus, the ecommerce system will broaden our market. Having a web presence means we do not only engage in vending from our brick and mortar location but also access to millions of potential customers online.

Disadvantages

Nevertheless, some disadvantages will become apparent as we begin implementing the system. The most important ones follow:

• Cost of initial setup
• Employee and management training
• Maintenance

The cost of the initial setup will include hardware, software, and networking. This will run in the thousands of dollars. Training could end up being in a similar range depending on the ability of people who must learn the system and ease-of-use of the system. Still, the long-term gains of implementing the system will eventually surpass these costs. Likewise, maintenance of the system will be contracted to an outside agency to start and will constitute a somewhat lesser initial cost but a potentially similar cost to in the long-term.

Conclusion

Retro Records may benefit from techniques commonly used in information systems business support. This proposal recommends five types of systems to be implemented: functional, transaction processing, enterprise resource planning, executive interfacing, and ecommerce. There are advantages and disadvantages to the implementation of any information system, but the combined long-term advantage outweighs the short-term costs of the system. Although there are initial cost considerations, it is wise to allocate funds toward this system to ensure even-handed, information-driven management of Retro Records.