Chapter 3 Bimodal IT

<p>Using information systems to create personalized products or services based on customer preferences. (C)</p> Signup and view all the answers

<p>Hilton Hotels with their OnQ system. (A)</p> Signup and view all the answers

<p>Government regulations (A)</p> Signup and view all the answers

<p>It emphasizes the importance of understanding the external environment in which a business operates. (C)</p> Signup and view all the answers

<p>Focus on developing high-quality products (C)</p> Signup and view all the answers

<p>Systems becoming tools for survival (C)</p> Signup and view all the answers

<p>Performance of strategic systems analysis (A)</p> Signup and view all the answers

<p>Business goals and processes (A)</p> Signup and view all the answers

<p>Structure of industry (B)</p> Signup and view all the answers

<p>Five forces model (C)</p> Signup and view all the answers

<p>Using information systems to develop ties (B)</p> Signup and view all the answers

<p>Through the introduction of universal standards (B)</p> Signup and view all the answers

<p>They expand product differentiation opportunities. (D)</p> Signup and view all the answers

<p>Activities where competitive strategies can be applied. (A)</p> Signup and view all the answers

<p>To improve customer and supplier intimacy. (A)</p> Signup and view all the answers

<p>It raises switching costs and inhibits new entrants. (B)</p> Signup and view all the answers

<p>Difficulties consumers face when changing suppliers. (D)</p> Signup and view all the answers

<p>Intensified competition for brand loyalty. (B)</p> Signup and view all the answers

<p>A collection of firms using synchronized IT to coordinate value chains. (B)</p> Signup and view all the answers

<p>When outputs from some units serve as inputs for others. (A)</p> Signup and view all the answers

<p>An area where the firm is regarded as a global leader. (A)</p> Signup and view all the answers

<p>Network-based strategies. (B)</p> Signup and view all the answers

<p>Typically involves less collaboration. (C)</p> Signup and view all the answers

<p>The merger of Bank of NY with JPMorgan Chase. (B)</p> Signup and view all the answers

<p>An interconnected network of external partners. (A)</p> Signup and view all the answers

<p>They enhance communication and resource-sharing across units. (D)</p> Signup and view all the answers

<p>Government regulations (A)</p> Signup and view all the answers

<p>When the market has low barriers to entry (D)</p> Signup and view all the answers

<p>Customers' lack of brand loyalty (A)</p> Signup and view all the answers

<p>They may lead customers to switch if prices increase. (D)</p> Signup and view all the answers

<p>The rate at which suppliers can raise their prices (A)</p> Signup and view all the answers

<p>An increase in product differentiation (B)</p> Signup and view all the answers

<p>They might have younger workers and new equipment. (C)</p> Signup and view all the answers

<p>Lower prices due to increased competition (B)</p> Signup and view all the answers

<p>The marginal cost of adding new participants is almost zero (C)</p> Signup and view all the answers

<p>A company that uses networks to ally with other companies (C)</p> Signup and view all the answers

<p>Keystone firms (B)</p> Signup and view all the answers

<p>Value increases as installed customer base grows (D)</p> Signup and view all the answers

<p>They consist of sets of firms providing related services and products (A)</p> Signup and view all the answers

<p>It facilitates a dense network of interactions among participating firms (D)</p> Signup and view all the answers

<p>Li &amp; Fung model (A)</p> Signup and view all the answers

<p>Competition occurs among industry sets in a business ecosystem (D)</p> Signup and view all the answers

Companies within the same industry competing for the same customers.

New companies entering a market with fresh ideas, resources, and sometimes a lower cost structure.

Alternatives that customers can use instead of your products or services.

The power customers have to influence prices and product features.

The power that suppliers have to influence prices and terms.

A framework that analyzes the competitive forces that shape an industry's profitability.

A strategy that aims to reduce the threat of new market entrants by creating barriers to entry.

The ability of a company to maintain its existing customers and attract new ones.

A framework that identifies five competitive forces that influence a firm's strategic position and strategies. These forces include competition with direct competitors, new market entrants, substitute products, customers, and suppliers.

A strategy that aims to offer products and services at a lower cost than competitors, often achieved through efficiency and scale.

A strategy that involves creating products or services that stand out from competitors in terms of features, quality, or design, often enabled by technology.

A strategy where a company focuses on a specific segment of the market, often with tailored products, services, or marketing.

A strategy that uses information systems to build strong relationships with customers and suppliers, fostering trust and loyalty.

A business strategy that enables companies to produce customized products and services on a large scale using information systems.

An information system used by Hilton Hotels to manage properties and enhance customer experiences.

A system used by Walmart to effectively manage inventory and respond to customer demand.

A collection of independent firms using highly synchronized IT to coordinate value chains to produce a product or service collectively.

The ability of a company to perform an activity better than its competitors.

When the output of some units is used as inputs to others, or organizations pool markets and expertise.

Strategies that take advantage of a firm's ability to network with other businesses.

The ability of a company to achieve economies of scale through its network of businesses.

A temporary alliance of companies linked by IT to share resources and expertise to complete a specific project.

A group of interacting companies sharing common interests and goals, forming a web of relationships.

Using information systems to build strong and lasting relationships with customers and suppliers, creating a barrier for them to switch to competitors.

The Internet's influence can transform industries, creating both opportunities and challenges. It intensifies rivalry and allows new competitors to enter the market.

Connecting everyday objects to the internet through sensors, enabling smart products and services.

Products with integrated internet connectivity, offering new features and functionalities.

A framework that breaks down a company's activities into a series of value-adding steps, highlighting opportunities for strategic advantage.

Primary activities in the value chain directly contribute to the creation and delivery of products or services, while support activities enable these primary activities.

Comparing a company's processes with best industry practices to identify areas for improvement and enhance efficiency.

Leveraging best practices and proven approaches from other industries to enhance a company's own processes and operations.

Maintaining a competitive edge over others in the same industry.

A strategic process that involves analyzing the structure of an industry and the value chain of a company to align IT with business objectives.

The process of adapting a company to effectively implement and integrate strategic systems.

The ability of competitors to mimic or counter a company's strategic systems, potentially diminishing their effectiveness.

The use of strategic systems to enable survival in a competitive market, often transitioning from a competitive advantage to a necessary tool.

The concept that adding more resources to a production process eventually leads to smaller and smaller increases in output.

Companies that use networks and partnerships to create and distribute products without being tied to physical locations or traditional organizational structures.

A dominant company in an ecosystem which creates a platform used by other businesses. It is typically a technology-focused company.

A type of firm that uses the platform created by a keystone firm in a business ecosystem.

The idea that companies need to adapt to a more dynamic business environment where boundaries between industries, firms, and customers are blurring.

An interconnected group of companies within different industries that work together to deliver value to customers.