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Impact of IT on Business Firms

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Questions and Answers

What is the role of information systems in increasing productivity and efficiency?

Reducing market share

Limiting the development of new products

Decreasing costs in the economy

Enhancing productivity and efficiency (correct)

How does IT impact the rate of price increases according to the Federal Reserve Bank?

Increases the rate by 0.5 to 1%

Has no effect on the rate

Reduces the rate by 0.5 to 1% (correct)

Doubles the rate

In what way can businesses develop a competitive advantage through IT as mentioned in the text?

By stagnating innovation

By imitating competitors' strategies

By differentiating themselves from competitors (correct)

By reducing productivity

Which company built its competitive advantage on an IT build-to-order business model mentioned in the text?

Dell Computer Signup and view all the answers

How did eBay differentiate itself from competitors using IT?

By developing the largest sale trading platform for individuals and businesses Signup and view all the answers

What is one way in which Amazon became the largest book retailer in the United States based on the text?

Building a huge online inventory and recommender system Signup and view all the answers

How has IT impacted business costs according to estimates provided in the text?

Reduced costs significantly Signup and view all the answers

What is one strategic opportunity that IT provides for businesses?

Creating new business models Signup and view all the answers

What does Amazon's huge online inventory and recommender system illustrate?

Competitive differentiation through IT innovation Signup and view all the answers

How does IT affect market share for businesses according to the text?

Increases market share for businesses Signup and view all the answers