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20 Cards in this Set

  • Front
  • Back
digital economy
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
global platform
over which people and organizations interact, communicate, collaborate, and search for information.
electronic business (E-business) or electronic commerce (E-commerce).
Businesses increasingly perform their basic functions: buying and selling goods and services, servicing customers, and collaborating with business partners electronically.
Business Pressure
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.
Three Types of Business Pressures
-The Global Economy and Strong Competition
-The Changing Nature of the Workforce
-Powerful Customers
Technology Pressures
-Technological Innovation and Obsolescence
-Information Overload
Societal Pressures
-Social Responsibility
-Government Regulation and -Deregulation
-Protection Against Terrorist Attacks.
-Ethical Issues
Strategic Systems
provide advantages that enable organizations to increase market share and/or profits, to better negotiate with suppliers, or prevent competitors from entering their markets
Customer Focus
is the difference between attracting and keeping customers by providing superb customer service to losing them to competitors.
is a strategy of producing customized products and services
Mass Customization
is producing a large quantity of items, but customizing them to fit the desire of each customer.
E-business and E-commerce
is the strategy of doing business electronically
Competitive Advantage
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
Strategic Information Systems (SIS)
provide a competitive advantage by helping an organization to implement its strategic goals and to increase its performance and productivity
Porter’s Competitive Forces Model
Model is used to develop strategies to increase their competitive edge.
Demonstrates how IT can make a company more competitive
Cost Leadership
Produce products and/or services at the lowest cost in the industry.
Offer different products, services or product features
Introduce new products and services, add new features to existing products and services or develop new ways to produce them.
Operational Effectiveness
Improve the manner in which internal business processes are executed so that a firm performs similar activities better than its rivals.
Concentrate on making customers happy.