Studentshare
Subjects
Miscellaneous
Leveraging Data, Information, and Knowledge for Competitive Advantage

Leveraging Data, Information, and Knowledge for Competitive Advantage - Essay Example

Summary

This profit making capability is tarnished somewhat when there are other organizations in the market which are offering a similar product and when…

Download full paper File format: .doc, available for editing

GRAB THE BEST PAPER92.3% of users find it useful

Leveraging Data, Information, and Knowledge for Competitive Advantage

Read Text Preview

Subject: Miscellaneous
Type: Essay
Level: Undergraduate
Pages: 5 (1250 words)
Downloads: 3
Author: gschmeler

Extract of sample "Leveraging Data, Information, and Knowledge for Competitive Advantage"

Download file to see previous pages

The solution then came out to be the term which is now known as competitive advantage. The term means that internal factor or product strength or critical success factor or the product itself or any service which one specific organization does best when it comes to the others in the same industry. (Hope, 1997) When that edge is maintained over time, not permanently, but for a significant amount of time, and when a noticeable amount of market share is snatched by that particular company, based on that factor that only this company possesses over its competitors, then that is known as the competitive advantage that one firm has in the industry that it belongs to.

Companies are always striving to efficiently and effectively utilize the resources that they have and gain a competitive advantage over the rivals that they have, since having one goes a long way in making the company successful and stand out in the market, increasing the goodwill both in the eyes of customers and all other stakeholders associated with the company. As mentioned above, such a competitive advantage is not permanent, thus a company should not release the pressure of competition once a competitive advantage has been gained.

Rather, they should continually try to develop themselves to achieve the zenith when it comes to different factors, so that an edge can be maintained over time and with consistency. Management Information Systems (MIS) are not the regular computer systems, since they specialize in providing the user with analysis of all the other information systems that are synchronized with it and which take care of all the operational activities which take place in the organizations. Usually the daily decision making that a manager has to go through is more or less related with the those activities which have a direct effect on the cash flows and liquidity of the company, that is, the operational activities.

(Davenport, 2000) And therefore, the MIS systems make use of

...Download file to see next pages Read More

Cite this document

APA
MLA
CHICAGO

(“Leveraging Data, Information, and Knowledge for Competitive Advantage Essay”, n.d.)
Leveraging Data, Information, and Knowledge for Competitive Advantage Essay. Retrieved from https://studentshare.org/miscellaneous/1567362-leveraging-data-information-and-knowledge-for-competitive-advantage

(Leveraging Data, Information, and Knowledge for Competitive Advantage Essay)
Leveraging Data, Information, and Knowledge for Competitive Advantage Essay. https://studentshare.org/miscellaneous/1567362-leveraging-data-information-and-knowledge-for-competitive-advantage.

“Leveraging Data, Information, and Knowledge for Competitive Advantage Essay”, n.d. https://studentshare.org/miscellaneous/1567362-leveraging-data-information-and-knowledge-for-competitive-advantage.

Cited: 0 times

CHECK THESE SAMPLES OF Leveraging Data, Information, and Knowledge for Competitive Advantage

Information Systems and Strategy Management of ASIC Company

In order for the power supply company, ESIC transform from a monopolistic system into a highly competitive market-oriented firm, it needs to radically overhaul its information management systems.... This will require the integration of all the appropriate information management system strategies.... nbsp; The firm must therefore radically change its information management systems to survive against the expected challenge.... This will involve the company adopting a modern information technology (IT) system that incorporates all the firm's divisions including the financial, production, and marketing sectors....

6 Pages (1500 words) Case Study

How Apple Can Gain Competitive Advantage through Leveraging Its Internal Resources and Competencies

This research is being carried out to evaluate and present how Apple can gain competitive advantage through leveraging its internal resources and competencies.... Accordingly, Apple has various core competencies that present unique strengths that can be utilized to differentiate its business activities and drive competitive advantage.... Apple has both tangible and intangible resources that it can leverage to attain high market share and competitive advantage in the market....

9 Pages (2250 words) Coursework

Adopting Methods and Tools for All Consulting Jobs

Management consultancy is a new form of management that deals with execution of ideas and knowledge, and therefore it requires commodification of knowledge in its expansion.... This aspect, in management consultancy, implies to the knowledge and skills that an organisations has in terms of human capital to what the organisations lacks according to Carmeli (2005).... The process of knowledge commodification is unproblematic and linear since it is concerned with only turning new ideas into marketable commodities....

6 Pages (1500 words) Essay

Leveraging on Information Systems for Effective Strategic Management

Managers can concentrate on the creative elements of management such as developing strategy, looking for new opportunities and competitive advantage, and maximizing the use of the firm's resources (Rossetti & DeZoort, 1989).... hellip; Strategic systems are frequently viewed as inward-looking in that they focus on enhancing the competitive position of the firm by increasing corporate productivity.... The paper "Leveraging on information Systems for Effective Strategic Management" states that today's business environment is dynamic....

12 Pages (3000 words) Coursework

Infosys Limited

During the latter half of the twentieth century, information and communication technologies (ICT) changed the character of national economies and human lives in an unprecedented manner.... In the face of inadequate supply of qualified and trained manpower locally on the one hand, and their mounting costs on the other, and with data transmission from anywhere in the world made possible by the strides in communications technology, competitive forces in the market created the phenomenon of outsourcing and off-shoring....

6 Pages (1500 words) Case Study

What Are the Contributions of Information Technology to Business

This coursework describes the contributions of information technology to business.... This paper demonstrates their background and IT infrastructure, benefits of using information technology.... The IT architecture of Wyndham hotels comprised; The request data warehouse married guest profiles with guest-stay information extracted from the Property Management System (PMS).... today has al line of offerings in an up-market hotel and resort accommodations leveraging its proprietary lodging brands and with an apex management services division in Dallas....

8 Pages (2000 words) Coursework

Knowledge Management and the Best Business: the Main Aspects Regarding the KM Technology

According to, the researchers and managers have acknowledged knowledge as a most important source of competitive advantage.... Organizing the data, information, and knowledge inside the corporation as well as making use of it to get a competitive advantage in a corporation has developed into the field of knowledge management.... hellip; The term knowledge management encompasses various attributes such as data, information, and knowledge.... The paper describes a detailed analysis of the knowledge management paradigm, its business implementation, and potential advantages....

8 Pages (2000 words) Research Paper

BlackBerry: Key Information Management Concepts

ey Concepts The four key concepts to be discussed are competitive advantage, firm cost, value creation, and added value.... competitive advantage- BlackBerry designs and provides very secure smartphones that make up the company's key competitive edge.... A stronger competitive advantage through investment in cloud-based services would affect BlackBerry in a positive way.... The CIO cannot solely depend on the efficiency or performance of the device or software when attempting to strengthen the company's competitive advantage, reduce firm costs, create value, and add value....

2 Pages (500 words) Essay