MGT 300

How to analyze and develop competitive advantages in the industry? Three common tools - Porter ’s Five Forces Model - Porter’s three generic strategies - Value chains 1.  Porter ’s Five Forces Model   Buyer power - HIGH (customers have many choices of whom to buy from) (as a seller) - LOW (few choices) How to lower - Loyalty programmes - Switching cost   Supplier power - HIGH (buyers have few choices of whom to buy from) (as a supplier) - LOW (buyers have more choices)   Threat of substitute products or services - HIGH (many alternatives to a product or service) (as a seller) - LOW (less alternatives to choose)   Threat of new entrants - HIGH (easy for new competitors to enter market) (as a seller) - LOW (there are barriers to enter market)   Rivalry among existing competitors - HIGH (competition is fierce) (as a seller) - LOW (competition is more complacent) ...

What will you learn at the end of the chapter? Compare Management Information Systems (MIS) & Information Technology (IT) Relationship among people, information technology and information Identify 4 different department in a typical business and explain how technology helps them work together Compare 4 types of organizational information cultures What are the business functions (departments) that receive the greatest benefits from information technology Business Driven Technology * IT department is responsible for performing the MIS = Accounting Department is reponsible for performing the accounts payable and accounts receivable functions INFORMATION TECHNOLOGY BASIS Data - raw facts describing the charcteristic of an event, e.g. name, phone number, id number Information - data converted into a meaningful (HELPS IN DESICION MAKING) and useful context, data mining; digging out the information Business intelligence - applications and technologies that are us...