Understanding Enterprise Entrepreneurship and Small Business

Question: Discuss about the Understanding Enterprise for Entrepreneurship and Small Business. Answer: Introduction: Modern information technology has dramatically changed the lives of organizations both business and training institutions. The wave of information technology has led to creativity and innovativeness which are the greatest strategies for business success (Crane Matten, 2016). With the adoption of information and communication technology (ICT), online shopping, social networking, digital marketing, and cloud computing have taken a high position in the business world. The use of ICT in the business operation of an education institution assists the management in ensuring systematic management of students data, timely monitoring of curriculum events, and enhancing instant student support programs over their portals (Scheer, 2012). As a result, the institution grows to a world class organization due to high quality and technology-based services offered to the stakeholders. Business training institutions investing in technology create a healthy innovation path which broadens the market share and overall competitiveness in the industry (Bridge O'Neill, 2012). Information and communication technology enable an organization to analyse customers data and efficiently make sound decisions applicable to the course of business life. The use of ICT in a training institution facilitates marketing of the organization's programs and business growth. This gets achieved through digital marketing that enables the marketing team to employ sophisticated technologies in promoting the organization's services all over the marketplace. The success of an institution is broad based to internet marketing. Information and communication technology assists the management in providing customer support services that satisfy their needs. Organizational operations success depends on understanding customers/students needs, behaviors, levels of satisfaction, and trends (Scheer, 2012). The use of internet technology hence enables the management to communicate with students both the existing and potential. Information technology is useful and valuable in resource management which acts as a key driver to business success. ICT plays a significant role in financial and human resource management by introducing a friendly solution in conditions of complex challenges (Klitmoller, 2011). Also, cloud technology enables systems analysts and engineers of an organization to add enterprise resource planning(ERP) solutions. The use of information technology assists the administration make the right decisions that cut across all departments of the institution. This is achieved through conducting a comprehensive technology-based research which gives the management all the most relevant data to make sound decisions (Crane Matten, 2016). The use of Google Analytics and Big Data as online research tools provides accurate data useful for decision making in the business operations. The use of ICT in an educational institution enables the organization store good records for future access and retrieval. Student enrollment data, procurement services, and hiring programs are adequately monitored by student data systems, project management programs, and employee management systems (Klitmoller, 2011). This, therefore, ensures the efficient passing of messages between various parties in the institution. In conclusion, long-term success in business is only achieved through the use of information and communication technology in business. Learning institutions need to invest in ICT to promote innovation and success in the industry. Therefore, hiring skilled IT experts, making real-time decisions, and innovating on business strategy results in business success. References Bridge, S., O'Neill, K. (2012).Understanding enterprise: entrepreneurship and small business. Palgrave Macmillan. Crane, A., Matten, D. (2016).Business Ethics: Managing corporate citizenship and sustainability in the age of globalization. Oxford University Press. Klitmoller, A. (2011). ICT and Knowledge Sharing in MNCs.Euram'11 Proceedings. Scheer, A. W. (2012).Business process engineering: reference models for industrial enterprises. Springer Science Business Media.