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IS 300 - Chapter 2
Midterm
| Question | Answer |
|---|---|
| Computer based information systems | use computer technology to collect, process, store, analyze, and disseminate information |
| business model | a description of the rationale of how an organization creates, delivers, and captures value |
| 6 basic elements of a business model | articular value proposition, identify market segment, define value chain, estimate cost structure and profit potential, describe the position of the firm, formulate competitive strategy |
| Porter's Competitive Forces Model | threats of new entrants, supplier power, buyer power, threats of substitute products |
| positioning the company | match strengths and weaknesses to the company's industry, build defenses against competitive forces or find a position in the industry where forces are weakest |
| influencing the balance | take the offensive; use innovate marketing to raise brand identification or differentiate product |
| exploiting industry change | an evolution of an industry can bring changes in competition |
| strategies for competitive advantage (5) | cost leadership, differentiation, innovation, operation effectiveness, customer orientation |
Created by:
lucynguyen08
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