COMM 190 Study Guide - Final Guide: Bring Your Own Device, Workflow, Capability Maturity Model

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Generic strategies: lowest cost in the industry, lowest cost in the industry segment, better (differentiated) product/service in the industry, better (differentiated) product/service in the industry segment. It can improve cost, timing and quality of information flows. A company"s is should support, or be aligned with, the overall company strategy. Organizational strategy begins with the assessment of fundamental characteristics & structure of the industry. Porter"s 5 forces to assess industry structure: bargaining power of customers, bargaining power of suppliers, threat of substitutes, threat of new entrants, rivalry among existing firms. Determine how they intend to respond to 5 forces: generic strategies. To be effective, an organization"s goals, objectives, culture, and activities must be consistent with their strategy. Porter"s 5 forces (it impact: bargaining power of customers. Companies can establish direct connections with their customers. Affects switching costs: bargaining power of suppliers. Suppliers develop a preference for distributors with efficient and integrated systems.