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How organizations can use it applications such as supply chain management (scm), customer relationship management (crm), business intelligence (bi), and integrated collaboration environments (ice) to gain a competitive advantage. The importance of understanding business problems and available technologies, the benefits of each it application, and real-life examples of companies like federal express, charles schwab, and dell. The document also introduces the five forces model to help organizations determine the attractiveness of an industry.
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Competitive Advantage September 7 – September 13
advantage. A company gains a competitive advantage by providing a product or service in a way that customers value more than what the competition is able to do.
important as what you do with it.
understand the business problem. understand the available technologies capable of solving a problem.
competition duplicates what you’ve done, or even passes you with a better system.
service, may well capture new customers it never gives up, and it often gains additional benefits by being viewed as an innovative market leader. Gaining Competitive Advantage with IT Applications: o Businesses use four types of important IT applications to gain a competitive advantage (p. 72): Supply chain management (SCM) Customer relationship management (CRM) Business intelligence (BI) Integrated collaboration environments (ICE)
processes and across companies. An SCM system is an IT system that supports supply chain management activities by automating the tracking of inventory and information among business processes and across companies (p. 72). A well-designed supply chain optimizes the following (p. 74):
products for sale arrive at the right time.
consistent with safe and reliable delivery.
quality parts are available when needed.
empty.
levels.
gain insights into their needs, wants, and behaviors in order to serve them better (p. 78).
they send all the customer information they collect to the database (p. 81).
send all their customer information to the database (p. 81).
business partners, your competitive advantage, and your own internal operations. It gives your business the ability to make effective, important, and often strategic business decisions (p. 82).
organization (p. 82).
do their work.
locations and whose work is supported by specialized ICE software or by more basic collaboration systems (p. 88).
database through the Internet and obtain up-to-date information about the packages.
to online stock trades.
product or services, and low when there are few choices.
create new products or services (p. 243).
low when it is hard for competitors to enter the market.
feature that customers have come to expect from companies in a particular industry. An entry barrier is a product or service feature that customers have come to expect from companies in a particular industry (p. 244).
among existing customers make an industry more attractive.