This means that the monitoring phase also has an important control and feedback component. Monitoring is not enough unless you are able to change some of the factors that have produced unwanted consequences for the company. Again, as previously mentioned, being able to react quickly and correct any of the problems that have appeared is essential, because otherwise the consequences that the company will face are incalculable.
This presentation of the relationship between information technology and the strategic decision making process, as presented previously, can gives us the necessary elements in order to be able to evaluate the advantages of using information technology in the process.
First of all, the basis of competition is determined by the way a company needs how to use information. Information is, indeed, everything. Information technology, on the other hand, helps with everything involved, from gathering information, to storing and later using it in order to achieve the best decisions (as presented in phase 1 of the decision making process).
The impact of information technology on strategic decision making is reflected, as such, on everything from choosing the best supplier to decreasing switching costs. For example, the use of information technology will allow a company to better monitor and manage its supply chain. An excellent example in this sense is Boeing. The company relies greatly on information systems in order to be able to exchange information with its supplier and buyers and to have the necessary parts on due time.
In terms of switching costs, information technology may discover suppliers which bring about a cost benefit that is higher than the switching cost implied. This is possible because the quantity and quality of information that can be handled by using information technology is virtually limitless.
Perhaps one of the most important benefits of information technology and its impact on the strategic decision making process is the added value to products and services in the company's portfolio that can be created with the use of it. This is strictly related to the monitoring phase I have previously described and analyzed. Indeed, the monitoring phase permits not only the...
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