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Unit 3

Unit 3

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In the present era, the business world is considered a war field. Various companies are trying to achieve their goals by focusing on the same set of customers. This is achieved by making and implementing different strategies. However, making and implementing strategies is not enough to succeed in the present era. The companies have to indulge the various forms of information systems in the process of strategy formulation and implementation to succeed. In this regard, the company should first specify which competitive strategy it is going to follow. If the company is following the cost leadership strategy, then it will have to analyze the cost structure of the competitors and improve them to find its cost structure CITATION Nis17 \l 1033 (F.Alshubaily & A.Altameem, 2017). The strategic information system will help in gathering and analyzing the cost data for the competitors. An effective information system will also recall if there had been any similar research conducted by the company.

If the company decides to adopt differentiation, the role of an information system will be further enhanced because differentiation requires the company to enter a new market or launch a new product. The information system will help the company in analyzing the trends in the industry in which the company is aiming to enter. It will become even more critical if the company is trying to enter a new market. In this case, the information system will help in analyzing the current trends in the demand in that particular country CITATION Mah10 \l 1033 (Hemmatfar, 2010).

The strategic information system can become a competitive advantage if it can collect the maximum information required to take any long term decision. This information should be up to date and pertain to the local people who will form the probable target market for the product. This competitive advantage will be very hard to imitate for competitors.

References

BIBLIOGRAPHY F.Alshubaily, N., & A.Altameem, A. (2017). The Role of Strategic Information Systems in Supporting and Achieving the Competitive Advantages: An Empirical Study on Saudi Banking Sector. International Journal of Advanced Computer Science and Applications, 128-138.

Hemmatfar, M. (2010). Competitive Advantages and Strategic Information Systems. International Journal of Business and Management, 158-169.

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