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Hi sir
Can you give some examples what kind of IT can overcome the poter 5 forces?.ThanksRivalry: IT to reduce your costs
New entrants: sophisticated IT is expensive and slow to develop, so a barrier to entry
Suppliers: use IT to find new suppliers and to reduce dependency on one or two
Customers: use IT to build relationships with customers to reduce the chance that they will switch
Substitutes: often come as a surprise. IT of little use in stopping new technology, but a company might use new technology to create its own substitute and to put pressure on the market.
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yenhoe100, you can read the October 2010 article, The Strategic Use of IT in the Student Accountant.
Dear Tutor,
Can you tip me on situations in the scenarion that most suit to each model of PESTEL, Porter’s 5 forces, Porter’s diamond (nations competirive advantage), etc.
Tahnks a lot
Forget Porter’s diamond for this time. As for the others, see what information is in the scenario. It it mentions the economy or technological change, you can use two out of the PESTEL categories (you don’t have to use them all). If it mentions how ruthless major customers are then you have a way in to talking about buyer pressure.
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