prepare a presentation.
College of Computing and Informatics Case Study Deadline: Tuesday 05/13/2024 @ 23:59 [Total Mark is 14] Student Details: CRN: Name: Name: Name: ID: ID: ID: Instructions: • You must submit two separate copies (Word and PDF) using the Assignment Template on Blackboard via the allocated folder. These files must not be compressed. • You are responsible for checking and ensuring you have uploaded both the correct files. • Zero marks will be given if you try to bypass SafeAssign (e.g. misspell words, remove spaces between words, hide characters, use different character sets, convert text into images or languages other than English or any kind of manipulation). • Email submissions will not be accepted. • You are advised to make your work clear and well-presented. This includes filling in your information on the cover page. • You must use this template, failing which will result in zero marks. • You MUST show all your work, and text must not be converted into an image unless the question specifies otherwise. • Late submission will result in ZERO mark. • The work should be your own; copying from students or other resources will result in ZERO marks. • Use Times New Roman font for all your answers. Description and Instructions Pg. 01 Description and Instructions Case Study Objective: This case study is an opportunity for you to practice your knowledge and to develop skills of working in teams. • Total Marks = 14 Project Report Presentation 10 marks 4 marks • Group Size = 3-4 Members. • One group member (group leader/coordinator) should submit all files: Project Report and Presentation Slides on blackboard. • Marks will be given based on your submission and the quality of the content. Project Report • Each Project Report will be evaluated according to the marking criteria in each question section. Presentation • Each group need to present their projects in week# 14. Introduction Pg. 02 Introduction The global economy went through a difficult period due to COVID-19. Many businesses did struggle, and some unfortunately failed. While COVID-19 brought immense challenges, it opened doors for new business and innovative opportunities. Peloton’s Rise and Fall Peloton, the high-end at-home fitness company, initially thrived during the early stages of the pandemic. With gyms closed and people stuck at home, demand for their stationary bikes and fitness classes skyrocketed. However, by 2022, they faced significant challenges. They overestimated demand and built excess inventory, leading to stockpiling and financial losses. Competitors like NordicTrack and Echelon offered cheaper alternatives, chipping away Peloton’s market share. Rising inflation and interest rates squeezed consumer spending, making luxury items like Peloton bikes less affordable. Peloton cut expenses, closed stores, and laid off employees to streamline operations. They launched lower-priced bikes and accessories to broaden their customer base. They invested heavily in their app and content offerings, enhancing the virtual fitness experience. Collaborations with retailers like Dick’s Sporting Goods and Amazon expanded their reach. They focused on building community and the emotional benefits of fitness rather than just pushing product sales. While the road was bumpy, Peloton’s efforts are starting to pay off. They have reduced losses, streamlined operations, and seen renewed customer demand. The company has shown resilience and adaptability in the face of adversity. Note: The case mentioned above is just an example; students should find a case study of a business that faced significant challenges during the pandemic but found innovative ways to overcome them. Question One Pg. 03 Learning Outcome(s): CLO1: Explain the interdisciplinary concepts, theories, and trends in ES and their role in supporting business operations. Question One 4 Marks After selecting your case study, describe it in your own words by using the following points. ▪ Clear introduction: It should give the most important information that describes the case study. What is the nature of the product or service they provide? (0.5 mark) ▪ Business process: Describe in detail the key business processes; how are they done? (1 mark) ▪ The business situation: It describes their situation based on the business process. What changes are made to these processes to overcome the situation? (1 mark) ▪ The Issues: State the problem/issues, consequences, and any hesitations in the business process. (0.5 mark) ▪ The strategies: State the key success strategies that helped them to navigate the pandemic challenges. (1 mark) Answer 1 Case Study: “Rebuilding Trust After Corporate Misconduct at Wells Fargo” Wells Fargo is a well-known financial institution. However, it is currently experiencing massive business environment challenges resulting from corporate bank misconduct issues. Wells Fargo is an international bank whose operations span different financial services, including banking, mortgage, investments, and insurance (Srinivasan & Goldberg, 2023). Question One Pg. 04 Wells Fargo Key Business Processes: Customer Acquisition, Financial Transaction, Risk Management, Compliance, and Customer Service. This should include Marketing, Account Opening, Loan Processing, Investment Advisory, Regulatory Reporting, and Dispute Resolution. The business issue has been that the bank faced a trust crisis due to corporate misdeeds linked to account fraud and inappropriate sales practices. Redesigning its process to rebuild trust through increased compliance and offering a better customer experience was what this bank did to flip this scenario. It brought about changes such as those in the leadership, more internal controls, and programs to restitute customers. Issues: The primary issue that Wells Fargo has contested is the eroded trust of its clientele and stakeholders, which is based on the organization’s malpractices. This led to impacts like reputation loss, regulatory investigations, lawsuits, and customer erosion. Reluctance to do business consisted of regulatory compliance, financial fines, and rebuilding customer trust. Others were related to transparency, accountability, cultural transformation, and customer-centric initiatives. The bank brought the theme of trust into focus by channelling open communication, ethical leadership, and forthrightness regarding issue resolution. On the other hand, there were investments in technology, training and risk management, internal control mechanisms, and compliance frameworks. Pg. 05 Question One Question Two Pg. 06 Learning Question Two Outcome(s): Business Process Model and Notation (BPMN) is a standardized diagramming CLO4: Design ES system that visualizes business processes. 3 Marks architectural models for ▪ current process. (1.5 mark) various business processes. Use one of the tools, such as Visio, to model the chosen enterprise’s ▪ Analyze the model process issues from at least two perspectives: time and quality. (1.5 mark) To be able to answer this question, I will design a BPMN diagram using the modelling of Wells Fargo’s current business processes on a software tool, e.g., Visio. I will then analyze the model process problems from time and quality perspectives. A BPMN diagram should describe important processes such as customer acquisition, financial transactions, risk management, compliance, and customer service activities and decision points that belong to them. Question Two Pg. 07 About time, there might be problems such as waiting for account opening due to manual paperwork or long approval processes for loans or investments, slow response in addressing inquiries or customer complaints, which can delay operations and hurt operational efficiency (Srinivasan & Goldberg, 2023). Potential quality problems that might arise due to errors or mistakes in financial transactions, regulatory reporting, or customer data could result from the fact that standard procedures are not in place or are not adequate, training is not available, or controls are just not effective. These problems could lead to violations, financial losses, and damage to reputation. Such process problems can be analyzed in terms of recognizing an improvement opportunity in efficiency, accuracy, and quality of customer service. Pg. 08 Question Two Question Three Pg. 09 Learning Outcome(s): Question Three 2 Marks Propose at least two suggestions for improving the process of your selected company from the perspectives of equipment, employees, IT, and IS CLO3: Discuss the issues and technologies. How will your suggestions solve business process issues? (1 mark) challenges associated with Note: The suggestions or solutions you provided should differ from those the implementing ES company used to overcome the pandemic. (1 mark) and their impacts on corporate enterprises. Robot Process Automation Implementation: RPA technology can automate manual and repetitive tasks in banking processes, such as data entry, document processing, and account reconciliation. This means RPA can simultaneously reduce processing time and possible errors, optimize operational efficiency through workflow automation, and free up human resources for other value-added tasks. RPA enables Wells Fargo to streamline processes, improving the accuracy of financial transactions, compliance reporting and customer service. Impact customers and reduce costs. Training and development programs Invest in comprehensive team member training and development programs related to banking operations, compliance and customer service. Question Three Pg. 10 Provide ongoing training on new technologies, regulatory requirements and best practices that enable the workforce to evolve based on business requirements and industry trends, which provide employees with the tools and resources needed to become effective service providers in a culture of continuous improvement and innovation (Srinivasan & Goldberg, 2023). Banks must be able to enhance their processes. With advanced technologies, this business process eliminates the need for routine functions and enhances team members’ skills and knowledge to create great customer experiences. Question Four Pg. 11 Learning Outcome(s): Question Four 1 Marks Based on your information and the course materials, what innovative approaches can enterprises adopt to strengthen their disaster recovery plans? CLO3: Discuss (1 mark) the issues and challenges associated with implementing ES and their impacts on corporate enterprises. Enterprises can further cement their disaster recovery by embracing emerging strategies that modern technologies power. With cloud-based backup and recovery solutions, large and infinitely scalable data storage is offered, ensuring data security. Artificial intelligence and machine learning give room for predictive analytics to be used to identify risks and vulnerabilities before they escalate into a crisis. The technologies help implement proactive risk management (Srinivasan & Goldberg, 2023). Moreover, based on this resilient infrastructure, the development of other redundant systems is made, which may be associated with their failover mechanisms that ensure operational continuity with the least or no disruption, maintaining the essential services at all times. Businesses that are unceasingly on their pathway and not destructed by such unexpected events or disruptions are made to stay on their path by including such innovative strategies in an enterprise disaster recovery plan. Question Four Pg. 12 References Srinivasan, S., & Goldberg, J. S. (2023). Recovering trust after corporate misconduct at Wells Fargo. Harvard Business School. https://www.hbs.edu/faculty/Pages/item.aspx?num=58343
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