Strategic Use of Information Systems

<p>By combining multiple initiatives to create innovative strategies (A)</p> Signup and view all the answers

<p>Increased profit margins (D)</p> Signup and view all the answers

<p>Opportunities are often less tangible and harder to recognize. (D)</p> Signup and view all the answers

<p>Increasing operational inefficiencies (A)</p> Signup and view all the answers

<p>It enhances productivity and reduces costs. (A)</p> Signup and view all the answers

<p>Robots can perform tasks at a lower cost. (A)</p> Signup and view all the answers

<p>It shifted the service from labor intensive to technology intensive. (A)</p> Signup and view all the answers

<p>Raising barriers to market entrants. (B)</p> Signup and view all the answers

<p>Fees charged for early termination of a contract. (B)</p> Signup and view all the answers

<p>They retain customers by making it costly to switch. (A)</p> Signup and view all the answers

<p>A user spends time researching alternatives before switching providers. (C)</p> Signup and view all the answers

<p>It prevents competitors from using certain innovations. (D)</p> Signup and view all the answers

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

<p>Adding features to increase the product's consumer value (A)</p> Signup and view all the answers

<p>Having bargaining power over them (D)</p> Signup and view all the answers

<p>By being a major player in their industry (D)</p> Signup and view all the answers

<p>Purchase volume (B)</p> Signup and view all the answers

<p>It locks them into specific services or products (A)</p> Signup and view all the answers

<p>Investing in enterprise software that requires ongoing services (D)</p> Signup and view all the answers

<p>Utilizing advanced data analytics (A)</p> Signup and view all the answers

<p>To create barriers to exit for customers or suppliers (C)</p> Signup and view all the answers

<p>You might lose your investment in the telephone. (B)</p> Signup and view all the answers

<p>Time and money spent training employees on new software. (D)</p> Signup and view all the answers

<p>They are likely accustomed to the MS Office interface. (B)</p> Signup and view all the answers

<p>Selling printers at or below manufacturing cost. (A)</p> Signup and view all the answers

<p>Creating a unique offering that fulfills a widespread need. (C)</p> Signup and view all the answers

<p>It allows companies to convince consumers their product is superior. (B)</p> Signup and view all the answers

<p>It creates a tendency to stay with current providers. (D)</p> Signup and view all the answers

<p>It reduces the risk of losing existing customers to competitors. (B)</p> Signup and view all the answers

<p>Enhancing software and support services (D)</p> Signup and view all the answers

<p>Being a significant customer to the supplier (B)</p> Signup and view all the answers

<p>Creating fear of high switching costs (D)</p> Signup and view all the answers

<p>By requiring suppliers to use compatible information systems (D)</p> Signup and view all the answers

<p>It increases their influence over suppliers (C)</p> Signup and view all the answers

<p>Enterprise Resource Planning (ERP) Software (C)</p> Signup and view all the answers

<p>Wal-Mart (C)</p> Signup and view all the answers

<p>Integration of training and support services (D)</p> Signup and view all the answers

<p>The high cost of switching suppliers (D)</p> Signup and view all the answers

<p>Integrated inventory tracking systems (B)</p> Signup and view all the answers

<p>By forcing suppliers to drop prices and follow company procedures (B)</p> Signup and view all the answers

<p>Long-term commitment to the purchasing company (C)</p> Signup and view all the answers

<p>Greater influence over supplier negotiations (D)</p> Signup and view all the answers

<p>They offer integrated solutions for various business processes (D)</p> Signup and view all the answers

A plan to help an organization outperform its competitors.

Information systems developed to seize opportunities and enhance competitive advantage.

A condition where a company achieves higher profits than its competitors by maximizing revenue and lowering costs.

Actions taken to gain an edge over competitors, such as improving products or lowering costs.

A strategy where companies lower expenses to offer lower prices and attract more customers.

Using technology to increase productivity and reduce costs in a business.

The essence of strategy, often involves trying new approaches others haven’t used.

The percentage of an industry's sales that a particular company controls, indicating its competitiveness.

Using technology to handle customer service tasks instead of human employees.

Costs incurred when a customer changes providers or brands.

Clear costs such as fees charged for ending service contracts.

Indirect costs incurred when switching providers, like time or satisfaction loss.

Laws that prevent others from using inventions or creative works without permission.

Increasing customer expenses to make it harder for them to change providers.

Using technology to operate tasks more efficiently than manual processes.

Costs associated with transitioning to new software or systems, including time and training.

A strategy to make a product appear unique compared to competitors' offerings.

A strategy to keep customers engaged with a product or service by imposing high switching costs.

Costs that make it expensive for customers to switch to competitors.

Gaining a market edge by introducing new products or services that fulfill customer needs.

High expenses associated with purchasing specific cartridges for printers, which can lock customers to a brand.

Promotions or deals that can persuade customers to switch from one product or service to another.

Adding features or value to existing products/services to increase consumer appeal.

The leverage a company has to influence suppliers or buyers due to its size or importance.

A strategy where companies ensure suppliers rely on them by increasing purchasing demands.

A method where companies make it difficult for customers to switch to competitors due to costs or investments.

The amount a company spends on products/services, giving it power over suppliers.

Comprehensive software systems that manage a range of business operations, often locking users in.

Software solutions designed for organizations, such as SAP and Oracle.

A company's ability to influence suppliers and buyers in their favor.

The ability to impact decisions between buyers and suppliers.

The role suppliers play in a company’s operational success.

Wal-Mart uses its negotiation power to enforce supplier conditions.

Higher buying amounts give companies leverage over suppliers.

Integrated software to manage core business operations across departments.

When customers are deterred from switching due to high switching costs.

Linking information systems with operational processes for efficiency.

A situation where a company becomes reliant on a specific supplier for critical resources.

Expenses related to onboarding new software in a company.

Specifications that suppliers must meet to collaborate with a company like Wal-Mart.

Market conditions where buyers have more power and options than suppliers.

The crucial role software vendors play in providing essential tools for companies.