Exam 2: Competing With Information Technology

When a firm develops ways to differentiate its products from a competitor's, it is pursuing a cost leadership strategy.

All the employees within a marketing department, from clerical staff to top managers, form a cross-functional team.

One of the reasons people form virtual companies is to keep new entrants out of a market.

When a firm develops ways to differentiate their products and services from their competitors', it is pursuing a _______________ strategy.

According to the textbook case, the Matter Page System at Goodwin Proctor increases efficiency of their attorneys by.

The goal of knowledge management systems (KMS) is to help knowledge workers _______________ important business knowledge.

When a firm makes such radical changes to its business processes for producing products and services that it alters the fundamental structure of an industry, it is pursuing an innovation strategy.

By nurturing an entrepreneurial spirit, an agile company provides powerful incentives for employee responsibility, adaptability, and innovation.

Investments in information technology can allow a business to lock in customers and suppliers, and lock out competitors, by building valuable new relationships with them.

Although large investments in technology can create entry barriers for present or prospective players in an industry, the barriers can evaporate over time as competitors employ the new technologies. This is an example of IT becoming a competitive _______________.

All of the following are primary business processes, except:

When a firm strives to find ways to help its suppliers and customers reduce their costs or to increase the costs of their competitors, it is pursuing a strategy of _______________.

Companies that consistently offer the best value from the customer's perspective must provide two key services: keeping track of their individual customers' preferences and selling products or services at lowest price.

Business process reengineering (BPR) combines a strategy of promoting business innovation with a strategy of making major improvements to business operations so that a company can become a much stronger and more successful competitor in the marketplace.

A sales company such as eBay would be most likely to use information technology to promote _______________.

Using an information system to make customers and/or suppliers reluctant to change to another competitor is called:

A(n) _______________ strategy is a competitive strategy by which a firm seeks to become a low-cost producer of products and services in the industry.

The practice of becoming the largest purchaser of products from a given supplier is an example of:

In the Internet world, a firm's biggest competitor may be one that is not yet in the marketplace but could emerge almost overnight.

Companies like Wal-Mart use information technology to implement competitive strategies for strategic advantage.