| Question Answer | A _________ is an activity at which a firm excels as a world-class leader. Core competency | Firms use a ________ strategy to provide a specialized product or service for a narrow target market better than competitors. Market niche |
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When a firm provides a specialized product or service for a narrow target market better than competitors IT uses a strategy?
| Question Answer | A _________ is an activity at which a firm excels as a world-class leader. Core competency | Firms use a ________ strategy to provide a specialized product or service for a narrow target market better than competitors. Market niche |
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How does the technical view of organizations fall short?
How does the technical view of organizations fall short of understanding the full impacts of information systems in a firm? A) It sees information systems as a way to rearrange the inputs and outputs of the organization.
When the output of certain units can be used as two units or expertise that result in lower costs and generate profits are created group of answer choices?
The idea driving synergies is that when the output of some units can be used as inputs to other units, or two organizations can pool markets and expertise, these relationships can lower costs and generate profits.
When the output of some units can be used as inputs to other units synergies develop?
When the output of some units in a firm can be used as inputs to other units, synergies develop, which can lower costs and generate profits. You just studied 50 terms!
What are the four major types of competitive strategy?
- Cost Leadership Strategy or Low-cost strategy.
- Differentiation strategy.
- Best-cost strategy.
- Market-niche or focus strategy.
What are examples of competitive strategies?
- Cost leadership: Micromax smart phones and mobile phones are giving good quality products at an affordable price which contain all the features which a premium phone like Apple or Samsung offers.
- Differentiation leadership: BMW offers cars which are different from other car brands.
How can internet increase the bargaining power of customers?
Internet increases the information on products and market reality. Increases the bargaining power because it provides more direct routes and eliminates customer links in the distribution of products.
When transaction costs decrease a firm is more likely to?
Figure 3-7 shows that as transaction costs decrease, firm size (the number of employees) should shrink because it becomes easier and cheaper for the firm to contract for the purchase of goods and services in the marketplace rather than to make the product or offer the service itself.
Which of the following best describes how new information systems result in legal GREY areas?
Which of the following best describes how new information systems result in legal gray areas? It has a ripple effect, raising new ethical, social, and political issues .
Which competitive strategy uses information systems to differentiate products and enable new services and products?
Product Differentiation – information systems helps enable new products and services or can greatly change the customer convenience in using your existing products and services. Focus on Market Niche- information systems gets used to enable a specific focus, and serve this narrow target market better than competitors.
What are the four generic information system strategies for dealing with competitive forces quizlet?
The four basic competitive strategies are low-cost leadership, product differentiation, focus on market niche, and customer and supplier intimacy .
How are information systems used at the industry level to achieve strategic advantage group of answer choices?
49) Information systems can be used at the industry level to achieve strategic advantage by: A) building industrywide, IT-supported consortia and symposia.
Which of the following has the lowest barrier to entry?
Perfect Competition has the LOWEST barriers to entry – people have very little trouble entering the marketplace, but there are many others to compete with (there is no real world example for this, but a stock exchange without the large investment firms would be a good model to think about).
How can mis be used to gain strategic advantage?
In Management Information Systems by Effy Oz (2008), there are eight ways to gain competitive advantage: Reducing cost, raising barriers to market entrants , establishing high switching costs, creating new products or services, differentiating products or services, enhancing products or services, establishing alliances.
How can managing information be a competitive advantage?
It changes industry structure and, in so doing, alters the rules of competition. It creates competitive advantage by giving companies new ways to outperform their rivals. It spawns whole new businesses, often from within a company’s existing operations.
