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0. Advantage vs. Necessity. Competitive Advantage – developing products, services, processes, or capabilities that give a company a superior business position relative to its competitors and other competitive forces

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advantage vs necessity

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Advantage vs. Necessity
  • Competitive Advantage – developing products, services, processes, or capabilities that give a company a superior business position relative to its competitors and other competitive forces
  • Competitive Necessity – products, services, processes, or capabilities that are necessary simply to compete and do business in an industry
customer focused business

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Customer-Focused Business

A business that:

  • can anticipate customers’ future needs.
  • responds to customer concerns.
  • provides top-quality customer service.
business process reengineering

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Business Process Reengineering

Definition:

  • Fundamental rethinking and radical redesign of business processes to achieve dramatic improvements in cost, quality, speed, and service.
agility

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Agility
  • The ability of a company to prosper in rapidly changing market
    • continually fragmenting global markets
    • market demands high-quality, high performance, customer-configured products and services.
agile company

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Agile Company

Definition:

  • A company that can make a profit in markets with
    • broad product ranges
    • short model lifetimes
  • can produce orders individually and in arbitrary lot sizes.
mass customization

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Mass Customization

Definition:

  • Providing individualized products while maintaining high volumes of production
value chain

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Value Chain

Definition:

  • View of a firm as a series, chain, or network of basic activities that add value to its products and services,
  • and thus add a margin of value both to the firm and its customers.
enterprise information systems

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Enterprise Information Systems

Definition:

  • Information systems implemented on an extranet among a company and its
    • suppliers,
    • customers,
    • subcontractors, and
    • competitors
  • with whom it has formed alliances.
virtual company

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Virtual Company

Definition:

  • An organization that uses information technology to link people, organizations, assets, and ideas.
virtual company strategies

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Virtual Company Strategies
  • Share infrastructure and risk with alliance partners.
  • Reduce concept-to-cash time through sharing.
  • Increase facilities and market coverage.
  • Gain access to new markets and share market or customer loyalty.
  • Migrate from selling products to selling solutions.
knowledge creating companies

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Knowledge-Creating Companies

Definition:

  • Consistently creating new business knowledge, disseminating it widely throughout the company, and quickly building the new knowledge into their products and services.
types of knowledge
Types of Knowledge
  • Explicit Knowledge – data, documents, things written down or stored on computers
  • Tacit Knowledge – the “how-to’s” of knowledge, which reside in workers
knowledge management
Knowledge Management

Definition:

  • Techniques, technologies, systems, and rewards for getting employees to share what they know and to make better use of accumulated workplace and enterprise knowledge.
  • Knowledge Management Systems – manage organizational learning and business know-how
enterprise systems
Enterprise Systems
  • Integrate/”Bring together” the value chain in multiple Companies

Mattel Toys

Amazon.com

GE Plastics

enterprise systems21
Enterprise Systems
  • The Umbrella the covers a virtual company.

ERP System monitors the integrated value-chains of all these connected firms

A Small companycan have theinformation andpower of a largeconglomerate

customer relationship management crm
Customer Relationship Management (CRM)

Definition:

  • enterprise system that integrates and automates many of the customer-serving processes in
    • sales,
    • marketing, and
    • customer services
  • that interact with a company’s customers
crm to erp
CRM to ERP
  • Firms themselves are customers of other firms.
  • Shared interests leads to...
    • Shared information
  • which leads to
    • Shared information systems
enterprise resource planning erp
Enterprise Resource Planning (ERP)

Definition:

  • A cross-functional enterprise system driven by an integrated suite of software modules that supports the basic internal business processes of a company
  • Company may be virtual
  • Value chain may cross-over to multiple partner firms
erp benefits
ERP Benefits
  • Quality and Efficiency – ERP creates a framework for integrating and improving a company’s internal business processes that results in significant improvements in the quality and efficiency of customer service, production, and distribution
  • Decreased Costs – Significant reductions in transaction processing costs and hardware, software, and IT support staff
erp benefits27
ERP Benefits
  • Decision Support – Provides vital cross-functional information on business performance quickly to managers to significantly improve their ability to make better decisions in a timely manner
  • Enterprise Agility – ERP breaks down many former departmental and functional walls of business processes, information systems, and information resources