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Alignment of IT and Business Strategy
Business Model DefinitionA business model defines how an organization interacts with its environment to define:•a unique strategy,•attract the resources and build the capabilities required to execute strategy, and•create value for all stakeholders.Alignment of IT and Business Strategy
Business ModelA business model forms the foundation for how executives make decisions about the following despite organization type:oopportunities to pursue, obusiness to launch or buy, oactivities to perform, otalent to hire, and oways to organize to deliver value to stakeholders.Alignment of IT and Business Strategy
Business StrategyStrategy is a set of choices that determine the opportunities you pursue and the market potential for those opportunities.Involves choices of products, markets, being unique in offeringsStrategic positioning along four key dimensions:oMarket positioning – customers, needs and expectations, channelsoProduct positioning – products and services to offer, the features of those offerings, and the price that will be charged.oBusiness network positioning – the role an organization plays in the supply chain.oBoundary positioning – determines markets, products, and business that will not be pursued.Alignment of IT and Business Strategy
Assessing the Impact of IT on Business Model Alignment (IT Business Value)Alignment of IT and Business Strategy
The Search for OpportunityOpportunity identification requires a more analytically driven evaluation of the viability of the business model.