Description
Please take a moment to share your thoughts, ideas, comments and / or questions concerning Week 2's lecture. Feel free to reply to other's posts as well. Thank you!
Unformatted Attachment Preview
Purchase answer to see full attachment
Explanation & Answer
Hello there! 😁. The assignment is done as instructed. Feel free to contact me on any issue. Nice time
Running Head: COMPETITIVE ADVANTAGE
Competitive Advantage through Information Technology Based Solutions
Students Name
Institutional Affiliation
Date
1
COMPETITIVE ADVANTAGE
2
Competitive advantage gives a producer the ability to produce at relatively lower costs,
thereby enjoying the benefit of improved profits. This is realized through the ability of that
company to own and control vital factors of production, thereby enabling them to produce at
friendly costs. In order to achieve competitive advantage, different companies and organizations
employ various strategies. According to the teachings from lecture two, Information Technology
is one such strategy that a company can employ in order to achieve competitive advantage.
A practical case of Stitchfix was included in the lecture to deliver this concept with
regards to its practicality. In this particular scenario, the company uses machine learning
technology through Netflix. This enables them to incorporate higher order algorithms in their
design process. Evident from the lecture was also the idea of strategic use of information
resources. In this regard, it is evident that value drivers have evolved over the years, to a point
where social needs of consumers are used in various strategies that incorporate information
technology. Different organizations thereby incorporate different information resources. The
ones majorly used include repositories, solutions and infrastructure.
Despite all the benefits that come along with competitive advantage, it has its inherent
challenges which should be a concern to all partakers in the industry. It was noted during the
lecture that it may be easy to attain competitive advantage. However, sustaining it is very
difficult and challenging. One option presented for this is through creation of barriers. This
would ensure that the company or organization is able to maintain its competitive advantage.
The other risk associated with competitive advantage employed on the basis of
information technology is the danger of awakening a sleeping giant. The sleeping giant in this
case may mean a bigger organization with more financial resources, meaning high...