How Are Information Systems Used at the Industry Level to Achieve

question 35

Multiple Choice

How are information systems used at the industry level to achieve strategic advantage?

• A)by building industry-wide,IT-supported consortia and symposia
• B)by raising the bargaining power of suppliers
• C)by encouraging the entry of new competitors
• D)by enforcing standards that reduce the differences between competitors
• E)by decreasing switching costs

---

Definitions:

Mediation

A process where a neutral third party assists disputing parties in reaching a mutually acceptable agreement.

Surrender Control

The act of willingly giving up authority or power over a situation to another party.

Formal Mediation

A structured process where an impartial third party helps disputing parties reach a resolution by facilitating communication and negotiation.

Binding Arbitration

A dispute resolution process where a neutral third party makes a decision that is legally enforceable and must be adhered to by all involved parties.