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Essay / Research Paper Abstract
This 8 page paper examines the various ways in which information can lead to a competitive advantage. The paper includes internal and open source information, giving examples of how companies have benefited from their use and analysis of information. The bibliography cites 7 sources.
Page Count:
8 pages (~225 words per page)
File: TS14_TEinfocomad.rtf
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Unformatted sample text from the term paper:
has been paid to physical resources, information is often over looked and can be the source of a competitive advantage is utilised effectively. There are many examples of information
being used effectively to create value. It is well known that for any process, including decision making, the output will be directly dependent on both the input and the transforming
processes. When it comes to information this means having information only will not lead to an advantage, it is the way it is used.
If we are going to argue that information can lead to a competitive advantage we first need to define what we mean by competitive advantage. Michael Porter
has considered the way in which firms compete, and defined two types of competitive advantage. These are cost advantage and differentiation. These are two different ways a competitor may get
the edge on its rivals. For example, if there are two products which are very similar, neither has the advantage, but if one looks better, or has extra features, it
may have an advantage just as if one costs a company less to produce, the company will have an advantage afforded by superior profits. To compete in the long term
Porter has argued that there should be a source of competitive advantage, however, that the two advantages of cost and differentiation are not compatible, and will create consumer confusion. Others,
such as Asker, argues that the two may be compatible. This appears to be true when looking a the use of information to gain competitive advantage. The development of
a competitive advantage is to increase the profit level. This is undertaken by satisfying customer needs. Profit may be created by supplying a product that is the same as other
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