Lecture - Chapter 3

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Ryerson University
Information Technology Management
ITM 102
Muhammad Shahbaz

Chapter 3 What is a business strategyCompare strategy of Tim Hortons to StarbucksCompare strategy of Canadian Tire to Walmart Compare strategy of Porter Airlines to Air CanadaBusiness Organization and Business Processes A number of different tasks need to be coordinated to deliver a product or service therefore a company needs a business strategyA strategy is a broadbased formula for how a business is going to compete what its goals should be and what plans and policies will be needed to carry out those goalsStakeholders and Boundaries in the Business EnvironmentA stakeholder is a person or entity that has an interest and an influence on how a business will functionA stakeholder can be external or internal relative to the businessAll open systems have an organizational boundary that separates them from their environment but still allows them to interact with their environmentBusiness Process To transform inputs into outputs goods and services organizations need to perform
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