Enterprise Resource Planning(Erp): a New Paradigm in Corporate Governance

Enterprise Resource Planning(Erp) a New Paradigm in Corporate Governance

Chapter One of Enterprise Resource Planning(Erp): a New Paradigm in Corporate Governance

Background to the Study

ERP provides an integrated and continuously updated view of core business processes using common Enterprise resource planning (ERP) is the integrated management of core business processes, often in real-time and mediated by software and technology. The core business process include marketing, production, purchasing, inventory management, shipping and payment, finance etc.ERP is  used  to collect, store, manage and interpret data from these many business activities databases maintained by a database management system. ERP systems track business resources—cash, raw materials, production capacity—and the status of business commitments: orders, purchase orders, and payroll. The system application shares data across the various departments that provide the data. ERP enhances the flow of information across the various business unit and outside stakeholders. The increasing use of ERP by small and large firms has  placed ERP as one of the greatest  IT investments by firms as it facilitates the in tegration of various organizational systems and enhances accurate transactions and production, for the promotion of  organizational efficiency. The development of  ERP system differs from traditional system development and applies  a variety of computer hardware and network configurations, through the use of   database as an information repository.The understanding of Corporate governance is also essential for the understanding of the research .  Corporate governance is the institution of taking cognizance and promoting the  interests of  the firms many stakeholders, such as financiers, government ,shareholders, management, customers, suppliers, and the community. Since corporate governance facilitates the attainment of the firms  company’s objectives covering  the firms action plans , internal controls ,performance measurement and corporate disclosure. The research seek to determine ERP:A NEW PARADIGM IN CORPORATE GOVERNANCE

Statement of the Problem

The implementation of ERP is not without challenges .Since it is and investment of various IT infrastructures, it is somehow expensive to institute and maintain. Also Customization can be challenging and.  Re-engineering the business processes to fit the ERP system cause harm to competitiveness or divert focus from other critical activities. It is also significant to address organizational resistance to ERP implementation. While also ensuring the harmonization of ERP across the firms various units. ERP requires the facilitation of extensive training and  Extensive training requirements take resources from daily operation. The problem confronting the research is to appraise  ERP:A NEW PARADIGM IN CORPORATE GOVERNANCE

Objectives of the Study

To detrermine ERP:A NEW PARADIGM IN CORPORATE GOVERNANCE

Research Questions

What is ERP

What is the relevance of ERP to corporate governance.

Significance of the Study

The study shall appraise  ERP:A NEW PARADIGM IN CORPORATE GOVERNANCE

.ERP provides an integrated and continuously updated view of core business processes using common Enterprise resource planning (ERP) is the integrated management of core business processes, often in real-time and mediated by software and technology. The core business process include marketing, production, purchasing, inventory management, shipping and payment, finance etc.ERP is  used  to collect, store, manage and interpret data from these many business activities databases maintained by a database management system. ERP systems track business resources—cash, raw materials, production capacity—and the status of business commitments: orders, purchase orders, and payroll. The system application shares data across the various departments that provide the data. ERP enhances the flow of information across the various business unit and outside stakeholders. The increasing use of ERP by small and large firms has  placed ERP as one of the greatest  IT investments by firms as it facilitates the in tegration of various organizational systems and enhances accurate transactions and production, for the promotion of  organizational efficiency.

Research Hypothesis

Ho ERP as A NEW PARADIGM IN CORPORATE GOVERNANCE is not effective

Hi ERP as:A NEW PARADIGM IN CORPORATE GOVERNANCE is effective

Scope of the Study

The study focuses on the appraisal of  ERP:A NEW PARADIGM IN CORPORATE GOVERNANCE

Limitations of the Study

The study was confronted by some constraints including l;ogistic and geographical

Factors.

Definition of Terms

CORPORATE GOVERNANCE DEFINED

Corporate governance is the institution of taking cognizance and promoting the  interests of  the firms many stakeholders, such as financiers, government ,shareholders, management, customers, suppliers, and the community. Since corporate governance facilitates the attainment of the firms  company’s objectives covering  the firms action plans , internal controls ,performance measurement and corporate disclosure

ERP DEFINED

.ERP provides an integrated and continuously updated view of core business processes using common Enterprise resource planning (ERP) is the integrated management of core business processes, often in real-time and mediated by software and technology. The core business process include marketing, production, purchasing, inventory management, shipping and payment, finance etc.ERP is  used  to collect, store, manage and interpret data from these many business activities databases maintained by a database management system. ERP systems track business resources—cash, raw materials, production capacity—and the status of business commitments: orders, purchase orders, and payroll. The system application shares data across the various departments that provide the data. ERP enhances the flow of information across the various business unit and outside stakeholders. The increasing use of ERP by small and large firms has  placed ERP as one of the greatest  IT investments by firms as it facilitates the in tegration of various organizational systems and enhances accurate transactions and production, for the promotion of  organizational efficiency.

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