Badm 64 Lecture 2

Front 1

digital economy

Back 1

is an economy based on digital technologies, including communication networks (the Internet, intranets, and extranets), computers, software, and other related technologies.
-Also called the Internet economy, the new economy, or the Web economy

Front 2

global platform

Back 2

over which people and organizations interact, communicate, collaborate, and search for information.

Front 3

electronic business (E-business) or electronic commerce (E-commerce).

Back 3

Businesses increasingly perform their basic functions: buying and selling goods and services, servicing customers, and collaborating with business partners electronically.

Front 4

Business Pressure

Back 4

The business environment is the combination of social, legal, economic, physical, and political factors that affect business activities.
Significant changes in any of these factor are likely to create business pressure on the organization.
The three types of business pressures faced are: market, technology, and societal pressures.

Front 5

Three Types of Business Pressures

Back 5

-The Global Economy and Strong Competition
-The Changing Nature of the Workforce
-Powerful Customers

Front 6

Technology Pressures

Back 6

-Technological Innovation and Obsolescence
-Information Overload

Front 7

Societal Pressures

Back 7

-Social Responsibility
-Government Regulation and -Deregulation
-Protection Against Terrorist Attacks.
-Ethical Issues

Front 8

Strategic Systems

Back 8

provide advantages that enable organizations to increase market share and/or profits, to better negotiate with suppliers, or prevent competitors from entering their markets

Front 9

Customer Focus

Back 9

is the difference between attracting and keeping customers by providing superb customer service to losing them to competitors.

Front 10

Make-to-Order

Back 10

is a strategy of producing customized products and services

Front 11

Mass Customization

Back 11

is producing a large quantity of items, but customizing them to fit the desire of each customer.

Front 12

E-business and E-commerce

Back 12

is the strategy of doing business electronically

Front 13

Competitive Advantage

Back 13

An advantage over competitors in some measure such as cost, quality, or speed, leads to control of a market and to larger- than average profits

Front 14

Strategic Information Systems (SIS)

Back 14

provide a competitive advantage by helping an organization to implement its strategic goals and to increase its performance and productivity

Front 15

Porter’s Competitive Forces Model

Back 15

Model is used to develop strategies to increase their competitive edge.
Demonstrates how IT can make a company more competitive

Front 16

Cost Leadership

Back 16

Produce products and/or services at the lowest cost in the industry.

Front 17

Differentiation

Back 17

Offer different products, services or product features

Front 18

Innovation

Back 18

Introduce new products and services, add new features to existing products and services or develop new ways to produce them.

Front 19

Operational Effectiveness

Back 19

Improve the manner in which internal business processes are executed so that a firm performs similar activities better than its rivals.

Front 20

Customer-orientation

Back 20

Concentrate on making customers happy.