ITM 102 Chapter 1-15: ITM102 Textbook Chapter 1-15.doc
1 Oct 2012
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Internet, flattened world -emergence of digital firm: - Business relationships are digitally enabled; customers, suppliers, employers. Business objectives y operational excellence: businesses seek to improve the efficiency of their operations in order to achieve higher profitability. A business model describes how a company produces, delivers, and sells a product or service to create wealth. (apple inc. ) customer and supplier intimacy: the more a business engages its suppliers, the better the suppliers can provide critical inputs. This lowers costs. (nygard) improved decision making: businesses and managers never really have right information and the right time to make informed decisions, they take chances and the poor outcomes raise costs and loose customers. System) & produce vehicles based on what customers have actually ordered) Survival: business firms invest in is and technologies because they are necessities of doing business. These necessities are driven by industry level changes. (atm machines) y y y y y.
