$3-3$ How do Porter's competitive forces model, the value chain model, synergies, core competencies, and network economics help companies develop competitive strategies using information systems?

$$ Define Porter's competitive forces model and explain how it works.

$$ Describe what the competitive forces model explains about competitive advantage.

$$ List and describe four competitive strategies enabled by information systems that firms can pursue.

$$ Describe how information systems can support each of these competitive strategies and give examples.

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

$$Define and describe the value chain model.

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

$$ Define the value web and show how it is related to the value chain.

$$ Explain how the value web helps businesses identify opportunities for strategic information svstems.

$$ Describe how the Internet has changed competitive forces and competitive advantage.

$$ Explain how information systems promote synergies and core competencies.

$$ Describe how promoting synergies and core competencies enhances competitive advantage.

$$ Explain how businesses benefit by using network economics and ecosystems.

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