TAILIEUCHUNG - Lecture Business driven technology: Chapter 2 - Paige Baltzan, Amy Phillips

Chapter 2 - Identifying competitive advantages. After completing this chapter, students will be able to: Explain why competitive advantages are typically temporary, list and describe 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 chains. | CHAPTER 2 Identifying Competitive Advantages LEARNING OUTCOMES Explain why competitive advantages are typically temporary List and describe 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 chains IDENTIFYING COMPETITIVE ADVANTAGES To survive and thrive an organization must create a competitive advantage Competitive advantage – a product or service that an organization’s customers place a greater value on than similar offerings from a competitor First-mover advantage – occurs when an organization can significantly impact its market share by being first to market with a competitive advantage IDENTIFYING COMPETITIVE ADVANTAGES Organizations watch their competition through environmental scanning Environmental scanning – the acquisition and analysis of events and trends in the environment external to an organization Three common tools used in industry to

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• Business driven technology
• Lecture Business driven technology
• Organizational information
• Business plug ins
• Identifying competitive advantages
• Buyer power
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