creating-business-advantage-information-technology

creating-business-advantage-information-technology - Table...

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Table of Content Declaration 3 Executive Summary 5 Introduction 6 Scope 7 Developing Business strategies with IT 8 Porter's competitive model and Wiseman's strategic trust 8 The balance power among buyers and supplier with using IT 9 Increasing power of supplier 9 Increasing power of customer 9 Balancing power among buyers and supplier 9 Build barrier to entry with using IT 10 Increasing or decreasing switching costs 10 IT encourage adding value existing products and services 11 Reduce barrier to entry by using IT to enhance product and service 11 Change basis and nature of competition 12 Managing the acquisition of IT 13 Paul strassmann's models 13 Re-engineer key value of activities with external consideration 13 Change the balance power of business partners 13 Re-engineer key value of activities with internal considerations 14 Conclusion 15 References 16
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Bibliography 18 Introduction As information technology becomes more ubiquitous in both life and business activities, it becomes increasingly difficult to separate out the role of information technology in business activities from a description of the business activities themselves (Papp, R. 2001) Today, most of the companies can no longer ignore the importance of Information Technology in their organization to get competitive benefit. The firms can be said that they are heavily relying on IT for processing their work because IT has a power to change the entire organization such as size, net-profit, competitively, productivity, human activity efficiency and customer satisfaction. Companies always have to search for new ideas, processes, and methods that will make their company more effective and efficient (Molka, J and Isen, D. 1999). Investing right technology, which makes a company unique and effective, is not that easy to be decided due to measuring the process of IT is invisible in some manner. Also, it is hard to figure out its effects and future benefit to an organization. Because the use and knowledge of IT cannot be seen at once but decision of choosing a new technology must be faster than knowing well about the technology itself to be an winner among competitors who also seek a new and unique technology. However, even if investing a new technology would have pretty much risk one the other hand it also would be able to result in a sustainable advantage. To gain competitive and sustainable advantage, it would not possible to avoid the risk of investing a new technology. Scope IT has a power to change the entire organisation such as size, net-profit, competitively, productivity, human activity efficiency and customer satisfaction when the investment is successful. The way executives access the successful investment that will result in a sustainable advantage has been discussed with many professions. CIO/CEO should concern the cooperated strategic plan between business and IT with keeping mind the financial matter and strategic goals. Also, it is important that CIO/CEO should mind how the acquisition of IT is managed. This matter of issues will be mainly covered through this report with
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