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Q1: How can Internet technologies help a business form strategic alliances with its customers, suppliers, and others? Q2: Explain how information technology can be used to implement the five basic competitive strategies. Support your answer with examples covering each strategy. Q3: Using your own words, Explain how could companies apply "Raise Barriers to Entry" concept to discourage or delay other companies from entering the market. Q4: What is the basic difference between direct and sequential memory access? Elaborate two basic points for each type of memory access. Give one example for each type as wellExplanation / Answer
Q1. Information technology can help a business form strategic alliances with its customers, suppliers, and others by enabling communications, collaboration, and information sharing in ways that were never before possible. By virtue of working together online, managers can monitor and automatically capture process metrics, identify bottlenecks, and recommend process improvements within and between organizations.
A business might undertake projects to integrate some of its information systems with its customers' systems in order to provide them with
more timely, accurate, and useful information. It might even directly provide applications for its customer's use at low or no cost.
Customers later considering changing suppliers would lose these benefits. Indeed, the very process of developing these tools will help managers increase
their familiarity with their customers and allow them to tune their information resources to their needs. This relationship will further serve to lock in customers.
For example,
i) Fed Ex provides its customers with package tracking information.
ii) Medical supply companies provide hospitals with inventory management and re-ordering systems.
iii)Wal-Mart will soon provide small medical practices with reduced cost patient management synstems.
Q2. To survive and succeed, a business must develop and implement strategies to effectively counter the below five competitive forces.
1. Cost Leadership-:Use information systems to achieve the lowest operational costs and the lowest prices.
For example, a supply chain management system can incorporate an efficient customer response system to directly link consumer behavior to distribution and production and supply chains, helping lower inventory and distribution costs. using online business to consumer & business to business models, e-procurement systems to reduce operating costs.
2. Differentiation-:Use information systems to enable new products and services, or greatly change the customer convenience in using your existing products and services. For instance, Land's End uses mass customization, offering individually tailored products or services using the same production resources as mass production, to custom-tailor clothing to individual customer specifications. For Examples Amazon and Flipkart first sell all latest products before the offline market release.
3. Innovation-:Find new ways of doing business:
a) develop new products & services
b) enter new markets or marketing segments.
c) establish new business alliances
d) find new ways of producing products/services
e) find new ways of distributing products/services
4. Growth(including mergers and acquisitions)-:a) Significantly expand the company=s capacity to produce goods and services.
b) Expand into global markets
c) Diversify into new products and services
d) Integrate into related products and services.
5. Strategic Alliance- Establish new business linkages and alliances with customers, suppliers, competitors, consultants and other companies For Examples-:(mergers, acquisitions, joint ventures, forming virtual companies, etc.). Walmart recetly own Flipkart so this was a market stretegy of Walmart to expand their business.
Q3. Raise Barrier to Entry or stop entry of new company to enter into the competition, prevent a startup from entering a particular market. As a whole, they comprise one of the five forces that determine the intensity of competition in an industry(the others are industry rivalry, the bargaining power of buyers, the bargaining power of suppliers and the threat of substitutes). The intensity of competition in a certain field determines the attractiveness of a market (that is, low intensity means that the market is attractive).
Factors involved as barriers to entry may be either innocent (for example, the dominating company’s absolute cost advantage) or deliberate (for example, high spending on advertising by incumbents makes it very expensive for new firms to enter the market).
Barriers to entry act as a deterrent against new competitors. They serve as a defensive mechanism that imposes a cost element to new entrants, which incumbents do not have to bear. Startups need to understand any barriers to entry for their business and market for two key reasons:
1) Startups might seek to enter a business with high barriers to entry. Doing so would put the startup at a significant disadvantage that is difficult to overcome.
2) Startups that become market leaders must understand how to protect their position by building barriers to entry.
There are seven sources of barriers to entry-:
1)Economies of scale
2)Product differentiation
3)Capital requirements
4)Switching costs
5)Access to distribution channels
6)Cost disadvantages independent of scale
7)Government policy
etc.
Q4.Both Direct and Sequential Acess is a part of File System.
Firstly start with sequential access ->
1) Sequential access data is stored at random locations.
2) In sequential access addition of data is fast but retrieval of data is slow.
3) In Data structure if we want to implement Sequential access then we can use linked list.
4) A situation where rate of addition of data is much larger compared to retrieval of data Sequential access is preferred.
Direct Acess->Random Access Memory (RAM) and Direct Access Storage Devices (DASD) - Direct Access and Random Access are the same concept. locate an address on the storage device and go directly to that location for access to the data.
2)In direct access data is stored at sequential locations.
3)In direct access addition of data is slow as reordering of data blocks may be needed to put current data block after the last used data block for the file. But retrieval of data is fast.
4)In Data structure if we want to implement Direct access then we can use Array.
For Examples-:
Hard disk.
DFSMS – a standard software managing DASD usage.
IBM Enterprise Storage Server – an example of large DASD.
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