An Information System Can Enhance Core Competencies By

question 22

Multiple Choice

An information system can enhance core competencies by:

• A) providing better reporting facilities.
• B) creating educational opportunities for management.
• C) allowing operational employees to interact with management.
• D) encouraging the sharing of knowledge across business units.
• E) synchronizing the value chains of business partners with an industry.

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Definitions:

Competitive Firm

A firm operating in a market with many competitors, where prices are determined by supply and demand forces.

Economic Profits

The difference between total revenue and total economic costs (including both explicit and implicit costs), representing surplus or profit not achievable in perfect competition.

Competitive Industries

Industries characterized by many firms competing for market share, leading to innovation and efficient resource allocation.

Production Costs

Expenses incurred during the process of creating a good or service, including labor, raw materials, and overhead costs.