1. What is strategy?

> It is a plan designed to help the organization gain a competitive advantage.

2. What is strategic information system?

> Information System that help accomplished a startegy.

3. Discuss value chain.

> A series or "chain" of basic activities that add value to a firm's products or services; Critical
leverage points where information technology can enhance a firm's competitive position.

4. Discuss five force model.

> Five Forces is a model that identifies and analyzes five competitive forces that shape every industry
and helps determine an industry's weaknesses and strengths. Five Forces analysis is frequently used to
identify an industry's structure to determine corporate strategy.

5. Discuss and enumerate the ways to achieve a competitive advantage.

> It's the essence of strategy is innovation, so competitive advantage often occurs when an
organization tries a strategy that no one has tried before.

WAYS TO ACHIEVE A COMPETITIVE ADVANTAGE

• Reduce cost.

• Raise barriers to entry.

• Established high switching costs.

• Create new product and services.

• Differentiate product and services.

• Enhance product and services.

• Establish alliances.

• Lock in suppliers or customers.

• Potentially winning business moves; and

• Ideas for harnessing technology to implement those moves.

6. What is Reengineering?

> The radical redesign of business processes to achieve a significant breakthrough in business
results.

7. Discuss outsourcing.

> Outsourcing is a business practice in which a company hires a third party to perform tasks, handle
operations or provide services for the company.

8. Discuss downsizing.

> Downsizing is the permanent reduction of a company's labor force by removing unproductive
workers or divisions. While it is generally implemented during times of stress and a decline in revenues,
downsizing can also be used to create leaner and more efficient businesses.