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ITM 700 (3)
Jim Tam (3)
Chapter 1

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Department
Information Technology Management
Course
ITM 700
Professor
Jim Tam
Semester
Fall

Description
Chapter 1 – Understanding Business Models 1. Define Business Model  Defines how an org interacts with its environment to define a unique strategy, attract the resources and build the capabilities required to execute the strategy and create value for the stakeholders.  A predictive forecasting tool  Forms the foundation for how executives make decisions about opportunities to pursue, business to launch or buy, activities to perform, talent to hire and ways to organize to deliver value to stakeholders. 2. Define strategy and different types of strategic positioning  Series of choices that determine the opportunities you pursue and the market potential of those opportunities. It involves choices concerning products to sell, markets to enter and ways a company differentiates its offerings from other alternatives. o Market positioning – customers to serve, needs and expectations o Product positioning – features of products and what prices o Business network positioning – role an organization plays and the activities it performs within an extended network of suppliers , producers, distributors and partners o Boundary positioning – markets, products, and businesses that will NOT be pursued. 3. What are the two types of business models? (see appendix 1A)  Strategy audit – sustainable advantage – occurs when barriers exit that make it difficult for competitors to imitate your actions or for customers to switch o Assess business context – ‘what business are we in?’ demographic, economic, political, regulatory and societal factors that influence. o Analyze customers o Analyze customers and substitutes o Asses the business net
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