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EM Data Culture Certificate_Digital Business I
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Mintzberg's classification identifies five forces in an industry's environment that affect the strategic position of a firm.
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The inventors of a disruptive technology typically benefit the most from the technology; it is rare that fast followers catch up quickly.
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Smart products generally lower switching costs.
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According to the network economics perspective, the more people offering products on eBay's site, the greater the value of the site to all who use it.
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The law of diminishing returns only applies to digital products.
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A firm can be said to have competitive advantage when it has access to resources that others do not.
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The term business ecosystem describes the loosely coupled but interdependent networks of suppliers, distributors, outsourcing firms, transportation service firms, and technology manufacturers.
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When the output of some units in a firm can be used as inputs to other units, synergies develop, which can lower costs and generate profits.
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The value chain model classifies all company activities as either primary or support activities.
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In the value chain model, support activities are most directly related to the production and distribution of the firm's products and services, which create value for the customer.
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