How can information itself provide a competitive advantage to an organization? Please include at least two examples. For each example, describe in associated risk.
Using the resource-based view as describe how information technology might be used to provide and sustain a winning position for an online university
Information can provide a competitive advantage to an organization by giving it increased knowledge, increased efficiency, and better control of strategic plans. Consider a company's need to have competitive pricing information in order to generate sales. Also, information can be used to understand market reach- which demographics a product is appealing to, for instance, to better shape promotional plans. Failure to accurately target the specific audience may result in worthless advertisement campaigns. Organizations track sales, often by product, category, location, day, week, all sorts of ways, to understand how the company is doing in the marketplace. This is important to be able to make competitive decisions. Failure to gather quantitative information can result in companies losing market share because their products are not price competitive, properly displayed, or sufficiently promoted. In addition, it is important to understand what changes competitors are bringing to the marketplace in order to keep up. Changes in ...
This solution discusses how information can provide a competitive advantage to an organization. It also discusses risk. How online universities benefit from information technology is discussed. It includes examples and APA formatted references.