Saturday, May 11, 2019

Strategy, Information Systems (IS) and Knowledge Management Essay

Strategy, Information Systems (IS) and association Management - Essay ExampleHowever, it is crucial to understand why competitive advantage is of significant value. The preponderant reason is that it allows a business to hold a superior status in the market. Having a ascendent position implies that a business can have toll leadership, where it dictates the prices of products by partnering with suppliers in a monopoly-like manner. This is non sustainable over the long run subsequently, business must create unique value nearly their products to draw out the largest market sh are. Hence there arises two ways of gaining competitive advantage, through cost or through differentiation. Either way, a business should seek this as it allows creation of profits that scale their competitors. These excess profits in turn, can be used to further market the business by promoting its products and services, and boosting its image. In addition, the business can set aside money for continual ass essment of its strategies, which involves research that ensures it is forever up-to-date with trends within the industry (Worth, 2009). One of the core competencies that all businesses have or can intimately acquire is study. Businesses need to create an environment that allows for dynamic use of development, to maintain high levels of performance, continuous harvest-home and facilitate approaching of beneficial risks. To achieve these results from data effectively, there needs to be a transposition in thinking from the traditional perspective to a dynamic one. Organizations need to think about information in three different ways, in order to leverage information systems to gain competitive advantage. These are recognizing the various sources of information within a business, acknowledging the purposefulness of a well-informed business solution and departure over the overall IT situation to ensure it supports the business needs as and when they occur (Hurwitz and Kaufman, 20 07). Recognizing the various sources of information involves looking at non-traditional sources of information, in the sense of original point. That is, managers should seek information from emails, custom applications and reports as fence to conventional sources such as content management systems e.g. ERM and customer databases. Of significance with this aspect is that quality of information leave behind be high, and decision-makers can make timely decisions as they will recognize this information and achievement on it prudently. Managers should not ignore these sources as gaining competitive advantage necessitates leveraging all kinds of relevant information, as this will enable establishment of sustainable strategies (Hurwitz and Kaufman, 2007). Acknowledging purposefulness of a well-informed business solution is dependent on the infrastructure currently adopted by business. This means that a business solution will have a certain modularity and level of flexibility depending on the structures and systems in place. Modularity and flexibility implies that linkages between inflexible information systems and structures, and applications can be adjusted to meet the changing needs of a business as dictated by the environment. An effective business solution should unify the metadata such that for instance characteristics that describe how to locate, rag and utilize data will be maintained. Essentially, all relevant informat

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