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Role of MIS :- MIS is the networking of information that supports management decision making. The role of MIS in business is to identify the information needs at different level of management and prepare a system to satisfy those needs satisfactorily.
Competing With IT
Strategic advantage with MIS :- Strategy is defined as the determination of the basic long term objectives and goals of an enterprise and the formulation of plans and the acquisition, allocation and utilization of resources necessary to accomplish the goals.
Management through decision making is a common feature to all the organization. The management consists of group of people who are places in an organization at various levels at assigned task, job and responsibility to achieve the goals. The MIS should acknowledge the problem and difficulties in various methods of the data gathering and their sources in the organization. Also while attempting to achieve the best design of MIS there is a conflict between the cost and benefit arises. This can be solved by applying the value of information.
Competitive Strategy Concept :-
The strategic role of information system involves using it to develop products, services and capabilities that give a company major advantage over the competitive forces it faces in the global marketplace. This creates strategic information system that support or shape the competitive position and strategies of business enterprises. So strategic information is one that helps an organization to gain a competitive advantage, reduce a competitive advantage or met other strategic enterprises objectives.
Forces driving industry competition :
i) Threats of Entry (New Entrants)
ii) Suppliers ( Bargaining Power)
iii) Buyers (Bargaining Power)
iv) Substitute Products
v) Intensity of rivalry among the competitors.
Competitive Strategies :
a. Cost Leadership strategies
b. Differentiation Strategies
c. Innovation Strategy
d. Growth Strategy
e. Alliance Strategy
Other Strategies :
1. Improving Business Processes
2. Promoting Business Promotion
3. Lock in Customers and suppliers
4. Creating Switching Cost
5. Raising Barriers to entry
6. Leverage investment in Information Technology
7. Developing a Strategic Information Base
Using IT for Strategies :-
The basic strategies in the business use of information as a resource are :
1) Lower Cost
i) Use IT for reducing cost
ii) Use IT to lower the cost of customer and suppliers
i) Develop new IT features to differentiate product and services
ii) Use IT features to reduce differentiation advantage of competitors.
iii) To focus product and services at selected market niche.
i) Create new product and services that include IT components
ii) Develop unique new market
iii) Cut cost, improving quality, efficiency, customer service etc.
4) Promote Growth
i) Use IT for regional and global level expansion
ii) To diversify and integrate into other product and services
5) Develop Alliances
i) Virtual organization of Business partners
Develop inter expertis
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Topic Categories >> business partners decision making competitive advantage competitive strategy customer service market niche Location-India-Delhi Complete List Of Categories
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