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Essay / Research Paper Abstract
This 14 page paper looks at the way the commercial environment has changed with increased use of IS/IT and the role of knowledge management. The paper considers the argument that with these development models such as Porters Five Forces and the Four Facets model have become obsolete. The bibliography cites 16 sources.
Page Count:
14 pages (~225 words per page)
File: TS14_TEkporter.rtf
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Unformatted sample text from the term paper:
terms of developing strategy or operations and tactics there is the need for knowledge. In the modern commercial world there have been many systems and models of information collection and
knowledge creation developed to help businesses. These range from the work of Michael Porter and models such as his Five Forces model and similar to the development of knowledge management
systems using all with the aim of providing better information for the decision makers in the creation making systems. Porters models, such as the five forces, four facets and
models of competitive advantages were developed before many of the current information systems were widely used, and for this reason it could be argued these are now outdated in
terms of the way businesses manage knowledge to create strategies and develop operations. However, the models arte still widely taught and used in many forms of business analysis, so, to
asses if these models really are out of date we need to consider the models, the way they can be used and how they may or may not fit in
with knowledge management. The Five Forces model is one of the models designed by Michael Porter and published in 1980 (Porter, 1980). His five forces model considers the external
macro effects on an organisation in a business environment (Goett, 1999). His five forces model is designed to show how the external environment can effect the way a business operates,
and that any strategy a business undertakes should take these factors into consideration when analysing their position and possible future (DAveni, 1999).
The five forces Porter identifies are the existing competitors, the threat of new entrants, substitute products (or services), and the power of purchasers and suppliers (Porter, 1980). Porter does not
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