Strategic Management in the Global Marketplace
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Chapter Objectives: Chapter Objectives: With the explosion of available information technology based products, the IT revolution has resulted in information accessible at our fingertips. The widespread access to this global information has resulted in increased competition and intensified the challenge for today’s organisations to survive and prosper. Complacency in the marketplace is no longer acceptable. Competition has intensified, whilst the marketplace itself has become more discerning, varied and dispersed. Indeed, the very nature of the manufacturing climate has inspired new approaches with respect to the organisational structure, the managerial role and manufacturing procedures. Many believe that long-term organisational success is greatly dependent on a flexible strategy. However, the challenge to today’s organisation in achieving its strategic objectives rests to a large extent on IT and the proper management and presentation of information, such that organisational decision makers are facilitated in distinguishing between realistic alternatives and mis-information. Clearly, managers require IT based tools to support and facilitate them in what is considered one of the most critical of managerial roles - strategic decision making. Having read this chapter, the reader should become familiar with:
KeywordsSocietal effects of IT (information technology) IT overview technology global marketplace product life cycle management integrative cultures segmentalist approaches organisational strategy strategic planning the strategic thinker managerial decision making decision categories decision models strategy and information technology knowledge management
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- 1.Please note that no distinction to gender is made throughout this book. Therefore, the terms such as man/woman, he/she, him/her, his/her, etc. are interchangeable.Google Scholar
- 2.IT enhances an organisation’ s ability to innovate and generate product variants through the use of IT based tools/technologies (such as CAD) and the speedy transmission of information amongst the members of a design team [Dewhurst et al, 2003]. The latter is increasingly important given the dispersed nature of the design team (either departmentally or geographically) in the virtual enterprise (see section 3.5).Google Scholar
- 3.Although a few of the studies reported here are somewhat dated the authors believe that the results reported are still valid.Google Scholar