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Information Technology & Lower Costs

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Explain how through the use management information systems, the competitors of a company benefit when your company uses information technology and lower costs and improve profit margins through increasing efficiency.

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The solution discusses how through the use management information systems, the competitors of a company benefit when your company uses information technology and lower costs and improve profit margins through increasing efficiency.

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Use of IT to gain competitive advantage by changing marketplace
Companies look for opportunities to outperform their competitors by using various resources. In the field of information technology, gaining competitive advantage means using information to gain leverage in the marketplace. Companies use information technology to develop applications which help in creating business value by turning new business developments in reality. Information technology can be used at various levels to enhance a firm's performance significantly. These levels of improvement are tactical advantage, operational advantage, and strategic advantage.
Tactical Advantage: Tactical advantage is obtained when a firm implements strategy in a better way than competitors. For example customer service can be enhanced by offering customers direct access to information. This can lead to improved customer satisfaction which can ...

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