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20260119 lecture 4: Information Systems and Business Strategy 1, This note…

- - - - industry rivalry
      - buyer power
        
        first-mover advantage
        
        significant impact on gaining market share by being the first to market with a competitive advantage
        
        competitive advantage
        
        providing a product or service in a way that customers value more than what the competition is able to do
      - supplier power
        
        high when potential buyers (business) have few choices and low when choices are many
        
        dependence on a single supplier increases supplier power
        
        small and big companies can now interact with suppliers with the same ease due to the Internet
        
        how is it increased
        
        patents/trademarks
        
        cartels and consortia (OPEC)
      - threat of substitute products and services
      - threat of new entrance
      - example []