ISD-topic 4

According to Michael Porter, how many competitive forces does a business need to deal with?

• 3

• 4

• 5

• 6

What is the goal of the "Cost Leadership" strategy?

• To create unique products

• To reduce production costs

• To increase innovation speed

• To expand the market

How can Information Technology (IT) help a business become an "Agile" company?

• By enhancing collaboration with customers and partners

• By focusing on mass production

• By reducing operational costs

• By increasing bargaining power with suppliers

What is a "Virtual Company"?

• A company that operates exclusively online

• A company that uses IT to link people, organizations, and assets

• A company without a physical headquarters

• A company that only uses remote workers

What is "Tacit Knowledge"?

• Knowledge that is documented and stored

• Knowledge that is widely shared within an organization

• Knowledge embedded in employees' experience

• Knowledge encoded in computer systems

What does a Knowledge Management System (KMS) help a business do?

• Enhance financial management

• Create and share knowledge within the organization

• Reduce production costs

• Increase bargaining power with suppliers

What is the purpose of "Reengineering Business Processes"?

• To improve process efficiency and quality

• To increase bargaining power with suppliers

• To reduce operational costs

• To enhance collaboration with competitors

What are "Switching Costs"?

• Costs to change suppliers

• Costs to change products

• Costs to change customers

• Costs to change technology

What is the "Value Chain"?

• A series of activities that create value for a product or service

• A chain of suppliers

• A chain of customers

• A chain of competitors

What is "Customer Relationship Management" (CRM)?

• Managing relationships with suppliers

• Managing relationships with customers

• Managing relationships with competitors

• Managing relationships with employees