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IST ch 2

Terms

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explicit knowledge
data, documents, and things written down or stored in computer
customer focused business
help keep customers loyal, anticipate their future needs, respond to customer concerns , and provide top quality customer service
agile company
ability to prosper in rapidly changing, continually fragmenting global markets. Profits in spite of broad product ranges, short model lifetimes, and individualized products
competitive strategies
cost leadership, differentiation strategy, innovation startegy, growth strategy, alliance strategy
tacit knowledge
the "how to" knowledge in workers minds
key strategies implemented with information technology
lock in customers and suppliers, build in swithcing costs, erect barriers to entry, build strategic IT capabilities, leverage investment in IT
Virtual company
IT to link peopel, organizations, assests and ideals. common startegeis are sharing information with aliance partners, increase facilites and market coverage, and gain access to new markets and share market or customer loyalty
competitive forces
rivalry of competitiors with its industry, new entrants into an industry and its markets, substitute products that may capture market share, bargaining power of customers, bargaining power of suppliers
Strategic information system
uses IT to help an organization, gain a competitive advantage, reduce a competitive disadvantage, or meet other strategic enterprise objectives
transaction database
store detailed data needed to support the business processes and operations of a company
primary business processes
directly relate to manufacturing or delivering products

Deck Info

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