Getting to know the industry in which a company operates is a critical factor fo

Question

Getting to know the industry in which a company operates is a critical factor for leveraging information systems and gaining a competitive advantage. Speculate as to how information systems can be leveraged in a particular industry. Analyze how time of entry, industry trends, corporate culture, and other factors affect competitive advantage. Explain your answer

Evaluate the competitive applications of technology. List and describe three applications and how these can be applied to the information systems industry

Explanation / Answer

Corporate cultures using three metrics: substance, strength, and adaptability, and measured economic performance by profit, return on investment, and stock price. Their research indicated that a company outperforms its counterparts when 1) its culture emphasizes customers, investors, and employees; and 2) its culture fits its business environment and adapts to changes.

As a business owner, it is vital that you understand and use advanced technologies. Technology can help increase business efficiency and even expand operations.

Accounting software. This is important, even if you have your own accountant or bookkeeper. Accounting software allows you to see your profits and losses at a glance. It can also help you design and maintain a budget for your business.

Planning software or tools. A calendar system is a must. There are many online planning systems that can be utilized to help you keep your calendar organized. Find a system that meets your business' needs and be sure to stick with it.

Time tracking software. A time tracking device will help you determine what tasks result in a profit and what tasks do not. This will help you determine what tasks can be eliminated, outsourced, or improved. If you’re looking at software that requires a fee, ask for a free trial first to make sure it’s the right software for you.

Email management. As a business owner, you probably use several email accounts to manage the various aspects of your company. If you streamline these emails to one account, you'll be able to stay organized and abreast of your emails.

Mobile internet access. Access to the internet on your mobile device will not only make your life easier, it will also help you maintain a positive reputation for your business. For example, if you are able to follow up with a client by email immediately after a meeting, you will be showing that you are accessible, timely and professional.

Once you decide which types of technology are right for you and your business, you'll be on your way to being more organized and efficient than ever.

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