Week 2 Flashcards
What is business competence?
The set of business and interpersonal knowledge/skills
what are the two dimensions of business competence?
- Organization-specific knowledge / skills
2. Interpersonal & management knowledge / skills
What are the antecedents of business competence?
- Organization overview (know the goals and objectives, core capabilities, succes factors, external environment)
- Organizational units (know different divisions’ main challenges)
- Organizational Responsibility (feel responsibility for outcomes not directly related to IT)
- IT-Business integration (know how IT and business can be integrated to increase organizational performance)
- Knowledge networking (know the right contacts and sources inside and outside the organization)
- Interpersonal communication (be effective at working in teams)
- Leadership (know and be effective in managing projects)
What is IT competence?
The set of IT-related knowledge and experience that a business manager pocesses
What are the two dimenions of IT competence?
- IT knowledge
2. IT experience
What are the antecedents of IT competence?
- Technology (knowledge of current and emergent technologies)
- Application (knowledge of the current and emerging IT application portfolio)
- System development (understanding both system development methods and project management)
- IT management (Knowledge of vision and goal setting, allocation of resources and monitoring of progress)
- Acces to IT knowledge (knowing who to contact to obtain more information about IT)
- Experience in IT projects (involvement in the lifecycle of IT projects)
- Experience in IT management (involvement in directing the overall IT function)
What are resources of firms?
Assets (tangible or intangible things) and Capabilities (repeatable patterns of actions in the use of assets) that are available and useful in detecting and responding to market opportunities or theats.
What is competitive advantage?
A condition that puts a company in a superior business position (produce a good/service of equal value:
- At a lower price or
- In a more desirable fashion
ROI higher than competitors
What is SCA?
Strategic Competitive Advantage –> Superior long-term performance
What is VRAINN? name all of its components
Short - term
- Valuable: the resource improves efficiency and effectiveness
- Rare: the resource is not simultaneously available to a large number of firms
- Appropriable: resources may not be of major benefit if the firm is unable to appropriate the returns
Long-term
- Inimitable: the resource can not be replicated
- Non-substitutable: the resource can not be replaced
- Non-Mobile: resource can not be transferred or traded by competitors
When can resources create a short-term competitive advantage?
When they are valuable, rare and appropriable
When can short-term advantages become a sustainable advantage?
When they are ininmitable, non-substitutable and non-mobile
