MGCR 331 Lecture Notes - Lecture 2: Nikeid, Value Chain, Network Effect
Document Summary
I n f o rm a t i o n s y s t em s. It allows us to benchmark from other industries in order to improve aspects of our own. A company"s goals : maximize profit & shareholder"s wealth. Automates, supports human information processing: expands productivity. Facilitates new processes & strategy: new business strategy sell directly to customers, new product strategy customize products to individuals (ex: nikeid) Transforms existing markets bands make money off itunes as oppose to selling albums, newspapers & yellow pages don"t print anymore. Industry analysis 5 forces model: how should the company compete, generic competitive strategies, how can the company create value in the eye of customers, value chain. 3 ways to compete: be better than competitors, avoid competition, gain competitive advantage. In order to survive when competing against big companies, you have to focus on what you do best. Targeting specific demographics which your company has the skills to please best.
