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IS 300 - Chapter 2

Midterm

QuestionAnswer
Computer based information systems use computer technology to collect, process, store, analyze, and disseminate information
business model a description of the rationale of how an organization creates, delivers, and captures value
6 basic elements of a business model articular value proposition, identify market segment, define value chain, estimate cost structure and profit potential, describe the position of the firm, formulate competitive strategy
Porter's Competitive Forces Model threats of new entrants, supplier power, buyer power, threats of substitute products
positioning the company match strengths and weaknesses to the company's industry, build defenses against competitive forces or find a position in the industry where forces are weakest
influencing the balance take the offensive; use innovate marketing to raise brand identification or differentiate product
exploiting industry change an evolution of an industry can bring changes in competition
strategies for competitive advantage (5) cost leadership, differentiation, innovation, operation effectiveness, customer orientation
Created by: lucynguyen08
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