Chapter 3-2Notes

Chapter 3-2Notes - substitute products and services,...

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Chapter 3 Notes Having information systems in today's society helps businesses stay more connected with the world, and most importantly its customers. Information systems help connect businesses with its customers by relaying information quickly back and forth. This fast transmission, for example, helps suppliers know more rapidly what to supply and the demand for their supply. Knowing the demand for the supply not only creates efficiency in the business, but also make customers happy. This efficiency created by information systems helps suppliers with its overall success by having high revenues. This model explains how the competitiveness of a firm is affected by new market entrants,
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Unformatted text preview: substitute products and services, customers, and suppliers. The value chain model helps firms decide what information systems adds are of value to the firm. These decisions are applied to two activities called primary activities and support activities . A value web is another model that is made up of information systems to help a firm become more efficient with business partners. In addition, this chapter explains how a business gains an advantage by using information systems to smoothly run synergies , network-based strategies , and core competences . It mentions how the introduction of the internet helped companies improve quality and compete on a global scale....
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