Information technology aims to provide businesses with opportunities along with challenges. If one picked up business related material they will find that there will be a myriad of terminology deriving from information technology.
Information technology's role is to provide the essential communication and provide strong intellect particularly in a business environment. It has the potential to in turning a normal sized business into a large successful organisation.
It is would be highly complex to measure information technology's success and the only mechanism that businesses can use is metrics. These include using Key Performance Indicators, Efficiency and Effectiveness IT metrics and Benchmarking.
2.List and describe each of the forces in Porter's Five Forces Model:
Buyer Power - This is where there are many choices of what buyers are able to purchase hence allows the power to rise and when they have very little choices their power is low.
Supplier Power - When there are little choices which therefore makes the buyers power high and when buyers have many choices their power is low.
Threats of substitute products or services - Where there are many choices to either the service or product the threat is of substituting is substantially high however where there are little choices the threat is low.
Rivalry among existing competitors - Rivalry is most likely to occur if there is intense competition however unlikely to occur if the market is content.
I attempted to make the screen smaller but I couldn't so I'm sorry the screen is abit cut off!!
Rae, GD. n.d. Porter 5-Forces Model. Graham D. Rae Associates Ltd Project Management, IT Consultancy, Marketing. Date Accessed: 4 April 2010.
3.Describe the relationship between business processes and value chain:
The business process makes sure that tasks are achieved by setting specific activities whereas a value chain is used to not only assess the business process but the product or service has value for consumers being added.
4.Compare Porter's three generic strategies:
Below is a graph that I compiled to compare Porter's three generic strategies:
References:
Baltzan, Phillips, Lynch, Blakey. Business Driven Information Systems. 1st Australian/New Zealand Edition. Mc Graw Hill. 2010.
Harvard Business' Channel 2007, YouTube, Viewed 4 April 2010.
Rae, GD. n.d. Porter 5-Forces Model. Graham D. Rae Associates Ltd Project Management, IT Consultancy, Marketing. http://www.grahamrae.net/porter.htm.Date Accessed: 4 April 2010.
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