Management Information Systems

timer Asked: Dec 15th, 2015
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Question Description

How could a business leverage it's investment in information technology to build strategic IT capabilities that serve as a barrier to new entrants into it's markets?

Tutor Answer

School: Carnegie Mellon University

Thank you for the opportunity to help you with your question!

information technology can help a business gain a competitive advantage in its relationships with customers, suppliers, competitors, new entrants, and producers of substitute products.Information technologies can support many competitive strategies. They can help a business cut costs, differentiate and innovate in its products and services, promote growth, develop alliances, lock in customers and suppliers, create switching costs,A business can use information technology to help it become an agile company. Then it can prosper in rapidly changing markets with broad product ranges and short model lifetimes in which it must process orders in arbitrary lot sizes, and can offer its customers customized products while maintaining high volumes of production. An agile company depends heavily on Internet technologies to help it be responsive to its customers with customized solutions to their needs and cooperate with its customers, suppliers, and other businesses to bring products to market as rapidly and cost-effectively as possible.

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awesome work thanks

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