ICT ENTREPRENUERSHIP

PRESENTATION
GROUP 1
NAME INDEX NO STD NO
 QN.1
ERPS

Enterprise Resource Planning System (ERPS) is a software

application that integrates various business processes and
functions within an organization. It centralizes and
standardizes data across departments such as finance, human
resources, sales, and operations, providing a comprehensive
view of the business.
 BENEFITS OF ERPS

• Improved Efficiency. ERPS streamline processes, reduce manual tasks, and eliminate
redundancies, leading to increased efficiency and productivity.
• Enhanced Decision Making: By providing real-time data and analytics, ERPS enable
informed decision-making based on accurate and up-to-date information.
• Better Customer Service: ERPS can help improve customer service by providing a unified
view of customer information and enabling faster response times to inquiries and issues.
• Increased Scalability: ERPS can accommodate growth and change within an organization,
supporting expansion and adaptation to new business needs.
• Cost Reduction: ERPS can help reduce costs by streamlining operations, improving
inventory management, and optimizing resource allocation.
COMPONENTS FOR INTERNET
CONNECTIVITY

• Computer or Device: A computer, laptop, tablet, or smartphone is

necessary to access the internet.
• Internet Service Provider (ISP): An ISP provides internet access and
connectivity to the network.
• Modem or Router: A modem connects the device to the ISP's network,
while a router can distribute the internet connection to multiple devices
within a network.
• Network Interface Card (NIC): A NIC is a physical component in the
device that enables communication with the network.
QN .2
A. BRIEFLY EXPLAIN STEPS TO BE FOLLOWED WHEN STARTING A
BUSINESS (BUSINESS PROPOSAL)
B. AS AN IT ENTREPRENEUR, MENTION AND EXPLAIN THE ROLE OF ICT IN
A BUSINESS

1. Choose your business idea

2. Conduct market research
3. Write business plan
4. Secure funding for your business
5. Choose your business structure
6. Register your business
7. Apply for license and permits
8. Open a bank account
9. Get business insurance
10.Prepare for launch
ROLES OF ICT IN BUSINESS

1. Automation: ICT automates various business processes, making them more

efficient and reducing the need for manual labor.
2. Communication: ICT enables effective communication within and outside the
organization, facilitating collaboration and improving customer engagement.
3. Data Management: ICT helps businesses manage and analyze large amounts of
data, providing valuable insights for informed decision-making.
4. E-commerce: ICT enables online transactions, expanding market reach and
improving customer convenience.
5. Marketing: ICT provides various digital marketing channels, such as social media
and email marketing, to promote products and services
CONTINUATION

6. Customer Service: ICT enables businesses to provide 24/7 customer support

through chatbots, email, and social media.
7. Innovation: ICT drives innovation, enabling businesses to develop new products,
services, and business models.
8. Competitive Advantage: ICT helps businesses differentiate themselves from
competitors and establish a strong market presence.
9. Cost Reduction: ICT reduces costs by increasing efficiency, automating processes,
and minimizing the need for physical infrastructure.
10. Scalability: ICT enables businesses to scale quickly and efficiently, expanding their
reach and operations.
3 A).WHAT ARE THE CHALLENGES FACED WHEN INTRODUCING AN
INFORMATION SYSTEM IN A COMPANY TO BOOST PROFITABILITY?

• Cost and Investment;

The cost of acquiring, implementing, and maintaining a new system can be
high in most companies hence limiting profitability.

• Technical Issues;
Hardware or software malfunctions can disrupt operations and lead to
financial losses hence limiting profitability in most companies and
Organisations.

• Cybersecurity threats;
CONTINUATION…

• User Adoption:
Employees may resist adopting new systems, especially if they are unfamiliar
with technology .

Inadequate training can lead to user errors, decreased productivity, and

frustration hence limiting profitability.
CONTINUATION…

• System Integration;
Integrating new systems with existing IT infrastructure can be complex and
time-consuming which also limits profitability.

• Data migration;
Transferring data from old systems to new ones can be challenging in most
organisations and companies hence limiting profitability.
CONTINUATION…

• Data Quality and Integrity;

Inaccurate or incomplete data: Poor data quality can hinder decision-making and
lead to costly errors.

• Changing Business Needs;

Evolving requirements: Business needs can change rapidly, making it difficult to
adapt systems accordingly.
Older systems may become obsolete, requiring costly upgrades or replacements.
B). STATE THE IMPORTANCE OF THE USE OF ICT IN
ENTREPRENEURSHIP?

• Market Reach and Access:

ICT enables entrepreneurs to reach customers worldwide, expanding their potential market.

E-commerce platforms and social media allow businesses to showcase their products or
services to a vast audience.

• Cost-Effective Operations:
ICT facilitates remote work, reducing overhead costs for office space and utilities.

Online tools like video conferencing and instant messaging streamline communication and
reduce travel expenses.
CONTINUATION…

• Enhanced Customer Engagement:

Platforms like Facebook, Instagram, and Twitter allow businesses to interact directly with
customers and build relationships.

• Access to Information and Knowledge:

ICT provides access to a vast amount of information and research, helping entrepreneurs
make informed decisions.

• Improved Efficiency and Productivity:

ICT can automate many business processes, saving time and reducing errors.

Cloud-based software and databases help manage information efficiently and securely.
QN.4

a) With relevant examples, explain the four basic parts of information processing system

b) ABC supermarket has problems due to its manual system of Stock Control, explain the major
functions that a computerized stock control system could perform to alleviate their problems.

c) An organization that has been using a manual based system in handling its business
transactions has decided to introduce a computerized system so as to respond to the market
sources, state and explain the advantages of using a computerized transaction processing
system
4A.

The information processing system is a cognitive framework that describes how

humans perceive, analyze, store, and retrieve information.
The four basic parts of this system are:
Input (Sensory Memory) Input refers to the process where information is
gathered from the environment through the sensory organs. This raw data from
the senses is briefly stored in the sensory memory, which holds the information
for a very short period before either discarding it or passing it to the next stage.
Example: When you read a book, the words on the page are first perceived by
your eyes (sensory input). This visual data is stored in your sensory memory for a
brief moment before further processing.

Processing (Short-Term Memory / Working Memory) After input is received,

CONT…

Storage (Long-Term Memory) This stage is responsible for storing processed information for future
use. Information moves from short-term to long-term memory through processes like rehearsal,
organization, and meaningful association. Long-term memory can store a virtually unlimited amount of
information for extended periods.
• Example: Memorizing a poem or remembering an event from childhood illustrates how information is
stored long-term for later recall.

Output (Retrieval) The final part of the information processing system involves retrieving stored
information when needed.
• Example: During an exam, you retrieve facts and concepts stored in long-term memory to answer
questions.
 ABC SUPERMARKET HAS PROBLEMS DUE TO ITS MANUAL
SYSTEM OF STOCK CONTROL, EXPLAIN THE MAJOR
FUNCTIONS THAT A COMPUTERIZED STOCK CONTROL
SYSTEM COULD PERFORM TO ALLEVIATE THEIR PROBLEMS.
The major functions that a computerized stock control system could perform to alleviate the
problems at ABC Supermarket include:

Real-time Inventory Tracking

A computerized stock control system can track inventory levels in real time, providing instant
updates as items are sold or replenished. This prevents stockouts or overstock situations, whic
are common problems in manual systems. When a customer purchases an item, the system
automatically deducts the quantity from the total stock count, ensuring up-to-date information

Automated Reordering
A computerized system can automate the reordering process by setting minimum stock level
When stock drops below a predefined threshold, the system automatically generates a purcha
order for suppliers, reducing the risk of stockouts and minimizing the manual effort required to
 CONT……….
Barcode Scanning for Accuracy
• Implementing barcode scanning as part of the computerized system improves the
accuracy of stock updates. Every item is tracked through its barcode, reducing
human error in stock counts and ensuring that inventory records match the actual
stock on hand. Cashiers at ABC Supermarket could use barcode scanners to
automatically update stock levels during checkout, eliminating manual entry errors.

• Improved Customer Service

• By ensuring that products are always in stock and available, a computerized stock
control system enhances customer satisfaction. Customers are less likely to
encounter out-of-stock situations, which can negatively impact their shopping
experience and loyalty. With a computerized system, ABC Supermarket can avoid
losing customers due to unavailable products, as the system helps to maintain
optimal stock levels.
 CONT….
• An organization that has been using a manual based system in handling its business transactions has decided to
introduce a computerized system so as to respond to the market sources, state and explain the advantages of
using a computerized transaction processing system

• Below are the advantages of using a computerized transaction processing system:

• Speed and Efficiency

• A computerized TPS processes transactions much faster than manual systems, significantly improving
operational efficiency. Automation ensures that tasks such as data entry, calculations, and updates happen
instantly, reducing the time required to handle large volumes of transactions.

• Accuracy and Reduced Human Error

• A computerized TPS minimizes human errors associated with manual entry and data handling. The system
performs transactions accurately by following pre-defined rules and validations, eliminating the risks of incorrect
entries or calculations.
 CONT…
• Enhanced Security

• A computerized TPS provides higher security for business transactions. It restricts access to
authorized personnel, logs transaction details, and provides secure storage of sensitive information.
This level of security is difficult to achieve with manual systems.

• Scalability and Flexibility

• A computerized TPS can easily handle growth in transaction volume as the business expands.
Unlike manual systems, which may require additional staff or complex paperwork as the business
grows, a computerized system can process thousands of transactions without the need for
significant changes.

• Improved Reporting and Analysis

• A computerized TPS can automatically generate detailed reports and provide analytics on business
transactions. These reports help management track performance, identify trends, and make
QUESTION 5
.BANKING SECTOR HAS EXPERIENCED A REVOLUTION IN ITS
PROCESSES DUE TO THE USE OF COMPUTERS AND THE INTERNET;
DESCRIBE FIVE APPLICATION AREAS OF INFORMATION
COMMUNICATION TECHNOLOGY IN THE BANKING SECTOR

• The banking sector has indeed transformed significantly due

to advancements in information communication technology
(ICT). Here are key application areas:
• 1. Online Banking: Customers can manage their
accounts, transfer funds, pay bills, and access financial
statements from anywhere at any time. This convenience has
enhanced customer satisfaction and reduced the need for
physical branch visits.
• 2. Mobile Banking: Mobile apps allow users to perform
CONT…

• 4. Risk Management and Fraud Detection: ICT tools enable

banks to analyze transaction patterns and detect anomalies in real-time,
improving their ability to identify and prevent fraudulent activities while
managing credit and operational risks.
• 5. Customer Relationship Management (CRM): Banks use ICT to
gather and analyze customer data, allowing for personalized services and
targeted marketing campaigns. This enhances customer engagement and
retention by addressing individual needs more effectively.
• 6. E-Wallets and Digital Payment Systems: Banks offer digital
wallets that allow customers to make payments seamlessly through their
smartphones or online platforms. This facilitates quick transactions for
CONT..

• 1. Robotic Process Automation (RPA): RPA streamlines repetitive tasks such as data entry,
compliance checks, and account reconciliation, improving operational efficiency and reducing the
likelihood of errors.
• 2. Data Analytics and Business Intelligence: Banks leverage big data analytics to gain
insights into customer behaviours, market trends, and risk assessment, enabling informed decision-
making and tailored product offerings.
• 3. Cybersecurity Solutions: Advanced security technologies protect customer data and
banking infrastructure from cyber threats. Measures include encryption, multi-factor authentication,
and continuous monitoring of transactions for suspicious activity.
• 4. Chatbots and Virtual Assistants: Many banks utilize AI-powered chatbots to provide
customer support, answer frequently asked questions, and assist with basic transactions, enhancing
customer service and reducing wait times.
B. EXPLAIN CHALLENGES FACED BY MANAGERS
WHEN IMPLEMENTING INFORMATION SYSTEMS

• Implementing information systems can present various challenges for managers, including:
• 1. Resistance to Change: Employees may be resistant to new systems due to fear of the
unknown or comfort with existing processes. Overcoming this resistance requires effective change
management strategies.
• 2. Integration Issues: Ensuring that new systems work seamlessly with existing technologies
can be complex. Managers must address compatibility and data integration challenges.
• 3. Training and Skill Gaps: Employees may need training to effectively use new systems.
Identifying skill gaps and providing adequate training can be resource-intensive.
• 4. Cost Management: Budgeting for the implementation, including software, hardware,
training, and ongoing maintenance, can be challenging. Unexpected costs may arise during the
process
CONT..

• 5. User Involvement: Engaging users in the design and implementation phases is crucial,
but can be difficult. Lack of user input can lead to systems that do not meet actual needs.
• 6. Data Quality and Management: Ensuring the accuracy, consistency, and security of
data is vital. Poor data management can lead to ineffective systems and decision-making.
• 7. Project Scope Creep: As projects progress, additional features or changes may be
requested, leading to scope creep. This can derail timelines and budgets if not managed carefully.
• 8. Vendor Selection and Management: Choosing the right vendors and managing
relationships with them can be a challenge. Misalignment with vendor capabilities can lead to
project failures.
• 9. Compliance and Security: Ensuring that the new system complies with relevant
regulations and security standards is critical, requiring ongoing oversight and adaptation
CONT…

• Evaluation and Metrics: Establishing clear metrics to evaluate the success of the system
implementation is essential, but often overlooked. Managers must define what success looks like and
how to measure it.
• Change in Business Processes: Implementing new systems often requires reengineering existing
business processes. Managers need to ensure that changes align with organizational goals and that
employees understand new workflows.
• Cultural Barriers: Organizational culture can impact the adoption of new systems. If the culture is not
supportive of innovation or technology, it can hinder implementation efforts.
• Resource Allocation: Balancing the allocation of resources—such as time, personnel, and budget—
across ongoing projects and operational needs can complicate implementation.
• Communication Breakdown: Effective communication is key to a successful implementation. Poor
communication can lead to misunderstandings about project goals, timelines, and responsibilities.
CONT…

• Technical Expertise: Managers may face challenges in finding and

retaining personnel with the necessary technical skills to implement and
support the new system.
• User Experience Design: If the system is not user-friendly, it can lead
to frustration and low adoption rates. Managers must prioritize user
experience in the design phase.
• Data Migration: Transferring data from old systems to new ones can be
complicated. Ensuring data integrity and accuracy during migration is
crucial to prevent operational disruptions.
• Scalability and Future-Proofing: Managers need to consider whether
the new system can scale with the organization's growth and adapt to
 QN 6. HOW DOES ICT CONTRIBUTE TO
ENTREPRENEURSHIP?
• Information and Communication Technology plays a crucial role in entrepreneurship by providing tools and
platforms that enable businesses to operate more efficiently, reach wider markets, and innovate. ICT has
contributed to entrepreneurship through the following ways:

• Enabling Innovation

• ICT fosters innovation by providing entrepreneurs with access to new technologies and tools that can enhance
product development and service delivery. The integration of modern technologies such as cloud computing,
artificial intelligence, and data analytics allows startups to create innovative solutions that meet market demands
more effectively.

• ICT tools like CAD software and 3D printing technology enable entrepreneurs to design and prototype products
quickly and efficiently.

• Access to Global Markets

• With ICT, entrepreneurs can reach customers beyond their local markets. E-commerce platforms enable businesses
to sell products and services online, allowing them to tap into global markets without the need for physical stores
CONT…

• 3. Improved Communication
• ICT enhances communication within organizations and with customers.
• Online tools like Google Workspace, Microsoft Teams, and Slack enable teams to collaborate remotely, share files, and
work on projects together, even if they are geographically dispersed.
• ICT tools like email and instant messaging facilitate communication between entrepreneurs, customers, suppliers,
and partners, streamlining business operations and building relationships.
• 4. Cost Efficiency
• By automating processes and utilizing cloud-based solutions, entrepreneurs can significantly reduce operational costs. This
cost efficiency allows startups to allocate resources more effectively, focusing on growth and development rather than
overhead expenses.
• 5. Data Management and Analytics
• ICT provides tools for collecting, storing, and analyzing data, which is critical for informed decision-making.
• Entrepreneurs can leverage data analytics to understand customer behaviour, optimize operations, and refine
marketing strategies. ICT tools can help
CONT…

• entrepreneurs analyze large datasets to identify trends, optimize processes, and make data-driven decisions.
• ICT-powered software can automate many business tasks, such as accounting, customer relationship
management (CRM), and inventory management, saving time and reducing costs.
• 6. Access to Information and Research
• The internet offers a vast array of information, research papers, and market data that can be used to identify
business opportunities, understand industry trends, and make informed decisions.
• ICT-powered tools like search engines, databases, and analytics platforms help entrepreneurs gather and analyze
data to gain insights into their target market and competition.
• 7. Digital Marketing and Branding
• Platforms like Facebook, Instagram, Twitter, and LinkedIn allow entrepreneurs to connect with their target
audience, build brand awareness, and promote their products or services.
• ICT tools can be used to create and distribute valuable content, such as blog posts, videos, and infographics,
that attracts and engages potential customers.
QN 7. WHAT ARE THE AREAS IN ENTREPRENEURSHIP
WHERE ICT CAN BE APPLIED?

• 1. E-Commerce
• ICT has revolonized the utiway businesses sell products and services. E-commerce platforms allow entrepreneurs to reach a global audience
without the need for a physical storefront. This accessibility enables startups to operate with lower overhead costs while expanding their market
reach.
• Entrepreneurs can set up online stores on platforms like Shopify, WooCommerce, and Amazon to sell products globally. Payment gateways like
PayPal or Stripe enable secure transactions.
• 2. Digital Marketing
• Marketing strategies have shifted dramatically due to ICT advancements. Entrepreneurs can utilize digital marketing tools such as social media,
email marketing to engage with customers effectively and promote their products or services. Tools like Google Ads, Facebook Ads, and
Instagram allow businesses to reach specific customer segments effectively.
• 3. Customer Relationship Management (CRM)
• ICT enables entrepreneurs to manage customer interactions more effectively through Customer Relationship Management systems. These tools
help businesses track customer data, preferences, and interactions, allowing for personalized marketing and improved customer service. Some
CRM software include Salesforce or HubSpot.
• 4. Remote Work and Collaboration Tools
• The rise of remote work has been facilitated by ICT, providing entrepreneurs with tools for collaboration and communication among team
members. Platforms like Slack, Zoom, and Microsoft Teams allow for seamless communication regardless of geographical location.
CONT…

• 5. Remote Work and Collaboration Tools

• The rise of remote work has been facilitated by ICT, providing entrepreneurs with tools for collaboration and communication among team members.
Platforms like Slack, Zoom, and Microsoft Teams allow for seamless communication regardless of geographical location.
• Dsiness decisions. Advanced analytics tools help identify market trends, customer behaviour, and operational inefficiencies.
•  ICT tools such as Power BI, Tableau, and Google Analytics help entrepreneurs make data-driven decisions by analyzing customer trends, sales
performance, and other critical metrics.
•  Entrepreneurs can use ICT to predict market trends, customer behaviour, or operational challenges using tools that apply AI and machine
learning algorithms.
• 6. Financial Management
• ICT provides various tools for managing finances, including accounting software that automates bookkeeping tasks and financial reporting. This
automation helps entrepreneurs maintain accurate financial records and streamline budgeting processes.
•  ICT tools like QuickBooks, Xero, or FreshBooks help businesses manage finances, track expenses, generate invoices, and handle payroll.
• 7. Networking and Collaboration
• Entrepreneurs can collaborate with team members, partners, or clients using ICT tools like Zoom, Microsoft Teams, Slack, or Google Workspace,
which offer real-time communication, video conferencing, and document sharing.
• Entrepreneurs can expand their network, find mentors, or connect with investors through online platforms like LinkedIn.
CUSTOMER RELATION MANAGEMENT (CRM)
SYSTEMS
WHAT IS A CRM

A Customer Relationship Management (CRM) system is a tool that businesses

use to keep track of and manage their interactions with current and potential
customers.

In simple terms, it is just like a digital notebook where businesses store

important information about their customers, like their contact details, past
purchases, and conversations.
POPULAR EXAMPLES OF CRMS

Salesforce
Microsoft Dynamics 365
Zoho CRM
HubSpot CRM

Salesforce is the best for reporting and analytics.

QUESTIONS CRMS SEEK TO ANSWER

1. Who are my customers?

CRMs keep track of customer names, contact information and other information so that
businesses can easily identify them.

2. What are the needs of the customers?

CRMs help record what products or services customers are interested in, or what
problems they have with products and services, so businesses can better meet taheir
needs.
CONTINUATION…

3. How can relationship with customers be improved?

CRMs help show past interactions customers had with the system, helping
businesses follow up, provide better support and improve overall relationship
with customers.
USING INFORMATION FOR COMPETITIVE
ADVANTAGE
Businesses can use customer information for competitive advantage in the following ways:

Understanding customer needs

Improving products and services.
Offering personalized marketing
Analyzing trends and performance.
Tracking moves by competitors
the ever increasing use of computers by organizations,
make it easier to collect data input store and share
information. however, it also makes it easier for
organizations to misuse identify ways in which
organizations could misuse the information through the
use of computers

• Potential Misuse of Information Through Computers

• The Dark Side of Digital Data: Misuse of Information
• The increasing reliance on computers has made it easier to
collect, store, and share information. However, this also
creates opportunities for misuse.
data breaches and unauthorized access
data breaches: a common threat

unauthorized access to sensitive information

identity theft, financial loss, and reputational damage
examples: healthcare records, customer credit card details

organizations may fail to implement adequate security

measures, leading to data breaches where sensitive
information is accessed by unauthorized individuals. this can
result in the theft of personal data, financial information, or
proprietary business secrets.
discrimination and bias
algorithms gone wrong: bias in data

biased algorithms can perpetuate discrimination in hiring,

lending, and other areas
examples: facial recognition systems that misidentify people of
color

data analytics can be misused to reinforce biases. for example,

organizations might use algorithms that inadvertently
discriminate against certain groups based on race, gender, or
socioeconomic status, leading to unfair treatment in hiring,
promotions, or service provision.
surveillance and privacy violations
big brother is watching: surveillance concerns

mass surveillance programs

tracking of online activities
violations of privacy rights

with advanced computing capabilities, organizations can

engage in excessive surveillance of employees or customers.
this can include tracking online behavior or monitoring
communications without consent, infringing on privacy
rights.
misuse of customer data
selling your data: a privacy nightmare

selling customer data to third parties

targeted advertising that can be intrusive
misuse of personal information for marketing purposes

the increasing reliance on computers for data collection,

storage, and sharing has indeed streamlined many
organizational processes. however, this convenience also opens
the door to potential misuse of information. here are several
ways organizations could misuse data through the use of
computers:
corporate espionage
stealing a competitive edge

hacking into competitor's systems

industrial espionage to gain a competitive advantage
intellectual property theft

organizations may use computers to steal trade secrets from

competitors. this could include hacking into their computer
systems or bribing employees to share sensitive information.
 cyberbullying and online harassment
a digital dark side: cyberbullying

harassment, threats, and emotional distress

impact on mental health
need for stronger online safety measures

the ease of sharing information can also lead to malicious uses,

such as cyberbullying or harassment. organizations may not
adequately protect employees from such behaviors, creating a
toxic work environment.
manipulation of information
fake news and misinformation

spread of false or misleading information

political manipulation
public distrust of information sources

organizations could manipulate data to mislead stakeholders or

the public. for instance, they might present data in a way that
exaggerates their performance or downplays negative aspects,
which can lead to misinformation
short notes on information systems specialists
programmers
role: develop, write, and maintain computer programs.
responsibilities:
translate user requirements into functional code.
test and debug programs to ensure accuracy and efficiency.
modify existing programs as needed.
collaborate with system analysts and other team members.
ii. system administrators
oversee the day-to-day operation of computer systems.
responsibilities:
install, configure, and maintain hardware and software.
manage user accounts and access privileges.
monitor system performance and troubleshoot issues.
implement security measures to protect data.
iii. computer technicians
provide technical support to users.
responsibilities:
help users with hardware and software problems.
install and repair computer equipment.
troubleshoot network issues.
provide training on computer systems.

iv. computer operators

monitor and operate computer systems.
responsibilities:
start and stop computers.
load and unload tapes and disks.
monitor system performance and alert administrators of any issues.
ensure data security and integrity.

v. system analysts
analyze user needs and design information systems.
responsibilities:
gather requirements from users.
develop system specifications.
design and document system architecture.
coordinate with programmers and other team members.
evaluate system performance and make recommendations for improvements.