Part of this exercise is to have the correct

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part of this exercise is to have the correct justifications that supports their reporting structure. 6. COMPARING CRM VENDORS Project Purpose: To become familiar with different CRM vendors Potential Solution: Comparing vendors is a difficult task. Typical CRM components house hundreds of functions and comparing all of these functions is almost impossible. Many organizations offer comparisons on the major functions. Try to ensure that your student’s CRM vendor choice is justified in their comparison. 7. APPLYING THE THREE GENERIC STRATEGIES Project Purpose: Understanding Porter’s three generic strategies Potential Solution: Organizations typically follow one of Porter’s three generic strategies when entering a new market. (1) Broad cost leadership, (2) broad differentiation, (3) focused strategy. Broad strategies reach a large market segment. Focused strategies target a niche market. Focused strategies concentrate on either cost leadership or differentiation. Student answers will vary depending on which industries they choose to research. 8. THE FIVE FORCES MODEL Project Purpose: Using Porter’s Five Forces to perform a competitive analysis Potential Solution: Buyer power – high when buyers have many choices of whom to buy from and low when their choices are few Supplier power – high when buyers have few choices of whom to buy from and low when their choices are many Threat of substitute products or services – high when there are many alternatives to a product or service and low when there are few alternatives from which to choose Threat of new entrants – high when it is easy for new competitors to enter a market and low when there are significant entry barriers to entering a market Rivalry among existing competitors – high when competition is fierce in a market and low when competition is more complacent APPLY YOUR KNOWLEDGE Instructor Note : There are few right or wrong answers in the business world. There are really only efficient and inefficient, and effective and ineffective business decisions. If there were always right answers businesses would never fail. These questions were created to challenge your students to apply the materials they have learned to real business situations. For this reason, the authors cannot provide you with one version of a correct answer. When grading BDT - UNIT 1 Page 42 of 56
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Business Driven Technology - Instructor’s Manual your students’ answers, be sure to focus on their justification or support for their specific answers. A good way to grade these questions is to compare your student’s answers against each other. AYK 1: CAPITALIZING ON YOUR CAREER Managers need to be involved in information technology – any computer-based tool that people use to work with information and support the information and information-processing needs of an organization. This project discusses the importance of getting general business mangers involved in information technology.
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