Managing Information Managing Service & Manufacturing Operations Motivation
Managing Information Why information matters Strategic Importance of Information First mover advantage Sustaining a competitive advantage
Information Raw Data-facts & figures. 11,456,4, RM 20 000,8.45 are data that I used while preparing for this slides. What is the meaning of these numbers? If you can figure out the data then it is useless. Information is a useful data that can influence someone’s choices and behavior.
Strategic importance of information First mover advantage-strategic advantage that companies earn by being the first to use new information technology to substantially lower costs or to make product & service different from competitors. Strategy-refers to a plan of action designed to achieve a particular goal
The first company to use information technology to substantially lower costs or differentiate products or services often gains first-mover advantage, which can lead to higher profits and higher market share
Sustaining competitive advantage Key is not to have faster computers, more memory, larger hard disk drives. The key is using information technology to continuously improve and support the core function of business Wal-Mart considers IT as a competitive advantage not as a business expenses-by doing that the manage to lower 10% cost then their competitors K-Mart, Target.