Information Systems Assignment 2 1. Explain Michael Porter's 5 Forces Model of Competition with the help of Information Technology examples. Hint: We studied in chapter 3, slide 43 how Tesla started accepting Bitcoin as a medium of payments - this is an example of 5th force of Michael Porter's 5 forces model i.e. Rivalry among existing competitors' on how Tesla used bitcoin to compete with its rivals. 2. Consider the following situation: You are going to start your business - it could be anything, designing an app, e-commerce store, retail store, any industry you'd like. Which of the following will be your Information system strategies for dealing with the competitive forces? Hint: You can use a format like My business will be in the Fintech industry. I will design a mobile app. I will use 'Product Differentiation' as my information systems strategy to deal with competitive forces. These will be the features of my app: Low-cost leadership Product Differentiation . Focus on Market niche Strengthen customer and supplier intimacy . Free subscription Monthly informational newsletters as per customers' usage and choices Community or platform for members to connect with one another and share their finance related questions, tips, success, etc. Should be not more than 2 pages, maximum 600 words. Deadline: June 24th