ITIS 1P97 Lecture Notes - Lecture 1: Operational Excellence, Information System, Competitive Advantage

• School: Brock University
• Department: Information Technology Information Systems
• Course: ITIS 1P97
• Professor: Sara Cumming

Document Summary

Improvement of efficiency to attain higher profitability and productivity (operational excellence) Business model describes how a company produces, delivers, and sells product or service to gain profit. Information systems and technology are a major enabling tool for new products, services, and business models (new products, services, and business models) Serving customers well leads to customers returning, which increases profit (customer and supplier intimacy) Without accurate information about customer/product (etc), managers must use their best guess or luck (improved decision making: results in over/underproduction, misallocation of resources, poor response times, poor outcomes raise costs and may even lose customers. Having a competitive advantage means achieving one or more of these business objectives being: operational excellence, new products/services/business models, customer/supplier intimacy, and improved decision making. Competitive advantage: delivering better performance, charging less for superior products, responding to customers and suppliers in real time.