CMGT 583 Harvard Business Review Competitive Forces Paper

1452 Words Apr 28th, 2015 6 Pages
Harvard Business Review: Competitive Forces Paper
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CMGT/583
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Introduction
Any business or company that uses Information Technology (IT) for its operation and is leveraging it for gaining competitive advantage also needs to think about other aspects of the technology. Technical advancement and innovations alone are not sufficient to make any business attractive. IT definitely plays a huge role in the highly competitive business world now than before because of the advancement in the area and various ways it can influence the rise or fall of the business.

Key IT Factors That Pose a Risk on Competitive Advantage
IT Infrastructure
Any business leveraging the IT to gain competitive advantage for its
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Second, these changes lead to major adjustments in the areas that are important to study. And third, technology provides new ways of doing research. The most important result of technological advance is the growing impact of IT and the increasing importance of service and relationships in the economy. Future improvements in marketing are likely to build from developments in technology and relating advancements in communicating, storing, and processing information about customers (sciencedirect.com). Advancements in IT make it possible for any business to easily access information about various aspects of the company. Moreover, access to the internet has made it possible for any information to be easily accessible to anyone sitting even halfway across the globe. Information about different suppliers, target audience for the business, competitors in the market, public opinions are easily accessed through the World Wide Web and, if properly researched and utilized, provide a competitive advantage for the company.

Knowledge About the Competitor
It is imperative for the success of any business to be knowledgeable about their competitors. Technology allows a company to gain access to competitor information easily thus providing the company a competitive advantage. An important contribution to a company’s success is to have as much knowledge about the

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