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MGT300 Chapter 2: Identifying Competitive Advantage  Explain why competitive advantages are typically temporary. List and explain each of the five forces in Porter's Five Forces Model. Compare Porter's three generic strategies. Describe the relationship between business processes and value chain. What is competitive advantage? A product or service that an organization's customers place a greater value on than similar offerings from a competitor. Unfortunately, CA is temporary because competitors keep duplicate the strategy. The, the company should start the new competitive advantage.  FIVE FORCES MODEL Buyer Power:  High- when buyers have many choices of whom to buy Low- when their choices are few. To reduce buyer power (and create competitive advantage), an organization must make it more attractive to buy from the company not from the competitors. Best practices of IT-based Supplier Power High- when buyers have few choices of whom t

BUSINESS DRIVEN TECHNOLOGY Learning Outcomes compare management information system (MIS) and information technology (IT) describe the relationship among people, information technology, and information identify four different departments in a typical business and explain how technology helps them to work together compare the four different types of organizational information cultures and decide which culture appilies to your school Information Technology's Role in Business information technology is everywhere in business Information Technology's Impact on Business Operations INFORMATION TECHNOLOGY BASICS information technology (IT): a field concerned with the use of technology in managing and processing information information technology is an important enabler of business success and innovation management information systems (MIS): a general name for the business function and academic discipline covering the applica