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