Assignment Preparation: Activities include completing the article review, independent student reading, and research.
Review the article, “The Five Competitive Forces That Shape Strategy,” from Harvard Business Review.
Assignment: The article “The Five Competitive Forces That Shape Strategy,” from Harvard Business Review, presents a comprehensive view of how five major competitive forces shape the industry and strategic planning of businesses. Each force has specific ways that shape competition, which may influence strategy.
Write a 1,050- to 1,750-word paper on the relationship between IT and a company’s competitive advantage or strategy.
Identify and briefly describe five specific areas where IT represents a risk to a company’s competitive advantage.
Identify and briefly describe five specific areas in which IT may support or promote a company’s competitive advantage.
Select a disadvantage you identified, and provide a detailed scenario of how it would occur and what steps might be taken to reduce the risk.
Select an advantage you identified and provide a detailed scenario of how it could be leveraged to improve a company’s competitive advantage.
Preview:
IT and Company’s Competitive Advantage
Business organizations always emphasize on information systems on the verge to gather any desirable information that can aid in decision-making. Due to the vast and comprehensive changes in many business backgrounds and the emergence of the Internet and computers, the structure of most businesses and the necessary information requires changes. Competition has taken root in most of the industries and information technology form a very useful avenue for companies or organizations to thrive. The potential usefulness of the different kinds of information technology systems is well recognized for organizational management (Porter, 2014). Perhaps it is true to state that advances in IT have been a stepping stone to organizations attempt to develop strategies that can give them a comparative advantage.
However, IT also poses a significant risk to the competitive advantage of a company. If a company fails to keep track with the current technology, the company is always likely to have a competitive disadvantage. As a result, business and organization management has a task of ensuring that they are always updated with any emerging technology in the industry
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