Business is an ever-expanding and competitive world filled with constant economic, social, and technological pressures, and with the arrival of the internet and with it the dawning of modern globalization IT has never been more prominent in business strategy. Familiar business practices like outsourcing, off-shoring, and supply-chaining would not have been possible without Information Technology.
With this "flattening" of the playing field in the business world, it has become vital for companies to find some way to stand out from their industry rivals. Whether it be having cheaper prices, making unique products or focusing more on innovation or customer services, an organization's competitive strategy is what ultimately will make each company sink or swim.
Despite IT becoming so integrated in business life a lot of organizations are still indifferent or ignorant to its particular importance when it comes to growing and expanding their businesses. A common problem which will have its obvious consequences later down the line.
Gray, H., Issa, T., Pye, G., Troshani, I., Rainer, R. K., Prince, B., & Hugh, J. W. (2015). Management
information systems. Wiley.
Excellent point "despite IT becoming so integrated in business life a lot of organisations are still indifferent or ignorant to its particular importance when it comes to growing and expanding their businesses". I think a theres a clear difference now between businesses that embrace the changes that IS and IT bring for the better and those businesses who don't. They will ultimately fall behind or have already started to.
ReplyDeleteGood work summarising the chapter and adjusting terms to reach your point across while still having formality to your writing. e.g "an organization's competitive strategy is what ultimately will make each company sink or swim." which makes it easy for me to process the information.
ReplyDeleteHey Genevieve, I like how you have structured your information in a way that is easy to understand; I also like how you pointed out the importance of organisation competitive advantages, and how it could either make them "sink or swim". In essence, very good blog.
ReplyDeleteI liked how you used real examples throughout your summary of chapter 2. I would maybe suggest shortening some sentences to help with the reading flow, but overall it was a great summary.
ReplyDeleteGreat to see that the main point was addressed in the last paragraph, That the vast majority of companies still don't utilise the effectiveness of technology and connectivity the internet gives us.
ReplyDeleteGreat summary Gen! I like your use of examples as well as how you keep everything related to the business world today.
ReplyDelete