Help me study for my Management class. I’m stuck and don’t understand.
1) Create a new thread and post a response to the discussion question below:
What evidence can you find that supports why organizations are investing heavily in information technologies? Explain what competitive advantages are gained.
Limit your response to 200 words and include an application of Michael Porter’s three strategies for competing or application of the Five Forces model.
2) Reply to another student’s discussion thread answering the following question:
What information would you use in order to support this viewpoint?
Limit your response to 200 words.
You can reply to this answer:
Firms worldwide are investing millions of dollars into upgrading or implementing new information technologies. As the world has progressed, so has technology and naturally people have adapted to using technology on a day to day basis: phones, television, computers, etc. Information systems are organized integrations of hardware/software that makes information seeking far easier/faster. It is clear that firms today are integrating these systems to increase their quality of service for their customers. For example, The Home Depot has a website that allows for customers to get in touch customer service quickly; they also use RFID tags to better manage their inventory. Along with these such technologies, The Home Depot has integrated a high speed network that connects all its stores in North America and analyzes the variables that limit the firms success. With these technologies the firm can gain a competitive the advantage of providing better services to their customers (prices, experience, customer service). Information systems affect things like supplier power; in this example Hope Depot has few competitors, but to maximize profits they must integrate these systems to increase their supplier power (the better the experience for the customers, the more customers will buy at Home Depot).