1. Define Porters competitive forces model and explain how it works. Explain the four competitive strategies enabled by information systems that firms can pursue.

2. Describe how the internet has changed competitive forces and competitive advantage.

3. Explain why aligning IT with business objectives is essential for strategic use of information systems.

4. Define the value chain model. Explain how the value chain model can be used to identify opportunities for information systems.

5. Explain how information systems promote synergies and core competencies that enhance competitive advantage.

6. Explain how businesses benefit by using network economics.

7. Define and describe a virtual company and the benefits of pursuing a virtual company strategy.