According to azcentral.com, some of the disadvantages associated with such systems include privacy, security, employee assessment, user error and downtime. The Houston Chronicle indicates that other disadvantages usually accompany information systems, such as high cost of technology and the hiring of a specialist to manage the system. These disadvantages are extremely prohibitive for small businesses.Continue Reading
According to azcentral.com, privacy is a major disadvantage of most HR management systems, as the risk of a breach into the privacy of business officials, management and employees is increased because of such systems. The security of the information in HR systems is also a major disadvantage as the information stored digitally in servers can be hacked and the company's private information, such as future HR strategies, accessed by hackers.
Such systems are also prone to attacks by viruses that may damage the integrity of sensitive company information. Management information systems are prone to user errors that might occur on a large scale and even disrupt the operations of the company by affecting critical data such as the salary increases of employees. The risk of possible downtime is inherent to all management information systems, and this may have a significant negative impact on a company's operations.Learn more about Managing a Business
Tips for contingency planning in project management include conducting a thorough risk assessment at the outset of the project to identify all potential threats, prioritizing the threats in terms of severity and likelihood of occurrence, and designating a team or person to create specific countermeasures according to the highest priority and most probable scenarios. It is also important to review contingency plans over time to check for relevance and set clear steps for when to put the plan into action.Full Answer >
Common performance appraisal systems include the traditional top-down evaluation, peer assessment, self-assessment and 360-degree feedback. In a top-down appraisal, a manager rates a subordinate's performance on various criteria important to the job. The manager notes any areas for improvement and may suggest training opportunities.Full Answer >
Dealing with pressure from globalization, acquiring and keeping a strong employee workforce and effectively using social media and technology are three challenges that strategic managers face in the 21st century. Adapting to change and making business decisions that reflect current market conditions helps overcome these challenges.Full Answer >
Inventory-management systems are used to track sales and inventory using different forms of technology to create a cohesive analysis report. These systems communicate in real time with vendors, merchants and suppliers regarding inventory. Inventory-management systems receive detailed inventory-related information and integrate other forms of data, such as seasonal demand, into analysis protocols. These systems are flexible and inform merchants of necessary orders and quantities.Full Answer >