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Definition
| cost of switching from one product to a competing product |
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| provides a general view of the firm, its competitors, and the firm's enviornment |
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| power of customers grows if they can easily switch to a competitor's products and services or if they can force a business and its competitors to compete on price alone |
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| efficent customer response system |
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Definition
| directly links consumer behavior to distribution and production and supply chains (wal-mart) |
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| offer individually tailored products or services using the same production resources as mass production. ex: lands end tailored per person shirts,jeans |
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| highlights specific activities in the business where competitive strategies can best be applied and where information systems are most likely to have a strategic impact. identifies specific points where a firm can use info technology most effectively to enhance it competitive position |
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| most directly related to the production and distribution of the firm's products and services, creates value for the customer. includes operations, sales and marketing, and service |
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| make the delivery of the primary activities possible and consist of organization infrastructure, hr, technology, and purchasing input |
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| involves comparing the efficiency and effectiveness of your business against strict standards and then measuring performance against those standards |
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| networked system that can synchronize the value chains of business parners within an industry to respond rapidly to changes in supply and demand |
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| relies on knowledge that is gained over many years of experience and a first class research org or simply key people who follow the literature and stay abreast of new external knowledge |
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| model of strategic systems at the industry level based on the concept of a network where adding another participant entails zero marginal costs but can create much larger marginal gains |
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| uses networks to link people, assets, and ideas enabling it to ally with other companies to create and distribute products and services without being limited by physical locations |
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| makes quality the responsibility of all people and functions within an organization |
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| quality concept. specific measure of quality. improving quality, reducing costs |
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| total elapsed time from the beginning of a process to its end. shorter cycle is sought after to catch problems early in prodcution |
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| software enables users to create a digital model of a part or product, etc. |
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| business process reengineering |
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| radical redsign of business processes, combining steps to cut waste and eliminate repetitive, paper-intensive tasks in order to improve costs, quality and service and to maximize the benefits of info IT |
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| process of streamlining business procedures so that documents can be moved easily and efficiently. |
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