ITM 100 Lecture Notes - Lecture 3: Sociotechnical System, Loose Coupling, Mass Customization

• School: Ryerson University
• Department: Information Technology Management
• Course: ITM 100
• Professor: Bob Hudyma

Document Summary

Agency theory economic theory that views the firm as a nexus of contracts among self-interested individuals who must be supervised and managed. Benchmarking setting strict standards for the products, services, or activities and measuring organizational performance against those standards. Best practices the most successful solutions or problem-solving methods that have been developed by a specific organization or industry. Business ecosystem loosely coupled but interdependent networks of suppliers, distributors, outsourcing firms, transportation service firm, and technology manufacturers. Competitive forces model model used to describe the interaction of external influences, specifically threats and opportunities that affect an organization"s strategy and ability to compete. Core competency activity at which a firm excels as a world-class leader. Disruptive technologies technologies with disruptive impacts on the industries and businesses, rendering existing products, services and business models obsolete. Efficient customer response system system that directly links consumer behaviour back to the distribution, production, and supply chains.